Any current/future new fundraising through debt or equity?

The company is balancing growth aspirations with a focus on maintaining net debt control rather than targeting zero debt. Current net debt stands at about INR 400 crores, down from previous levels, with gross debt at INR 470 crores. Land monetization proceeds (such as the INR 93 crores received from Chennai land sale) are being used to augment capital for growth. Shriram Properties acknowledges they will need to fund growth either through equity or borrowing due to pipeline expansion requiring around INR 2,000 crores of land value commitments. No explicit mention of immediate new fundraising t

Any current/future capex/capital investment/strategic investment?

New project investments amounted to about INR 40 crores in the recent quarter, indicating ongoing capital deployment. The company plans to add around 8 to 10 million square feet of new pipeline in the coming year, requiring substantial capital commitment. Land proceeds, including recent cash inflows of about INR 93 crores from land monetization in Chennai, are being used to support growth and new pipeline investments. To fund a pipeline of 15-17 million square feet (approx. INR 2,000 crores land value), the company balances equity and debt, as Shriram is not capitalized to fully fund growth fr

Future growth expectations in sales/revenue/volumes?

Shriram Properties aims to nearly triple its annual revenue by FY '28, targeting over 3x current revenues. Medium-term aspiration includes growing annual revenue recognition from about INR 1,000 crores to INR 5,000-6,000 crores over 3 years. Target to hand over 3 to 5 million square feet over the next 1-3 years, supporting at least 20% top-line growth annually. Pipeline addition target reset to 8-10 million square feet for the coming year (FY '26), following reworked plans for next 3 years. Over the next 18-24 months, aim to add around 13-14 million square feet to the project pipeline, doublin

Future growth expectations in earnings/operating earnings/profits/EPS?

Shriram Properties aims to nearly triple revenues by FY '28, focusing on revenue recognition from ongoing projects with a gross development value (GDV) of about INR 9,500-10,000 crores. EBITDA margins are expected to stabilize between 22% to 25%, with PBT margins around 9% to 11% and PAT margins in the 8% to 10% range. Medium-term aspiration includes accelerating handovers: targeting 3,000 to 5,000 million square feet completed in the next 1-3 years, driving 20%+ annual top-line growth. FY '26 is expected to be a strong year for business development, adding 8-10 million square feet to th

Current/ Expected Orderbook/ Pending Orders?

The ongoing project pipeline stands at approximately INR 10,000 crores in GDV (Gross Development Value). New to-be-launched projects cover about 17 million square feet, feeding volume for FY 2026 and part of FY 2027. The company aims to nearly double the pipeline to 30-35 million square feet over the next 12 to 24 months. Currently, there are about 17-18 projects in advanced evaluation stages. Recent addition includes 3 projects totaling 1.1 million square feet with a GDV close to INR 1,000 crores. Majority of ongoing projects are mostly sold, with only about 20% remaining to be sold over next

Shriram Properties LtdQ4 FY25Realty

Shriram Properties Ltd Q4 FY25 Earnings Call Analysis

Revenue, margin, capex, fundraise and order book outlook from management commentary.

Price: ₹78.1P/E: 14.4Market Cap: ₹1.5K CrSector: Realty

Management growth scorecard

Revenue

Category 2

Margin

Category 3

Fundraise

Yes

Order

N/A

Capex

Yes

2 of 4 growth signals are positive.

Full analysis

Revenue guidance

Category 2

→Shriram Properties aims to nearly triple its annual revenue by FY '28, targeting over 3x current revenues.
→Medium-term aspiration includes growing annual revenue recognition from about INR 1,000 crores to INR 5,000-6,000 crores over 3 years.
→Target to hand over 3 to 5 million square feet over the next 1-3 years, supporting at least 20% top-line growth annually.
→Pipeline addition target reset to 8-10 million square feet for the coming year (FY '26), following reworked plans for next 3 years.
→Over the next 18-24 months, aim to add around 13-14 million square feet to the project pipeline, doubling from current 17 million sq ft to 30-35 million sq ft.
→Business development robust with recent acquisitions totaling ~1.1 million square feet; FY '26 expected to be a big year for new project additions.
→Q4 handover target is about 1,500 units, slightly higher than prior year, to resume strong revenue recognition momentum.

Margin guidance

Category 3

→Shriram Properties aims to nearly triple revenues by FY '28, focusing on revenue recognition from ongoing projects with a gross development value (GDV) of about INR 9,500-10,000 crores.
→EBITDA margins are expected to stabilize between 22% to 25%, with PBT margins around 9% to 11% and PAT margins in the 8% to 10% range.
→Medium-term aspiration includes accelerating handovers: targeting 3,000 to 5,000 million square feet completed in the next 1-3 years, driving 20%+ annual top-line growth.
→FY '26 is expected to be a strong year for business development, adding 8-10 million square feet to the project pipeline, supporting future revenue growth.
→Earnings growth driven by steady handovers, project completions, and improved approvals (OC/CC), with expected 4x profit growth over the medium term based on the current project pipeline.
→The company refrains from giving specific year-by-year EPS guidance but expresses confidence in robust profit growth linked to execution and sales momentum.

3 more insights locked — sign up free to unlock

Fundraise plans

Yes

→The company is balancing growth aspirations with a focus on maintaining net debt control rather than targeting zero debt.
→Current net debt stands at about INR 400 crores, down from previous levels, with gross debt at INR 470 crores.
→Land monetization proceeds (such as the INR 93 crores received from Chennai land sale) are being used to augment capital for growth.
→Shriram Properties acknowledges they will need to fund growth either through equity or borrowing due to pipeline expansion requiring around INR 2,000 crores of land value commitments.
→No explicit mention of immediate new fundraising through debt or equity was made.
→The company is focused on managing debt prudently while funding pipeline expansion, indicating possible borrowing but emphasizing reducing net debt.
→Engagement with institutional investors and family offices is ongoing to bring in equity, but no concrete new equity fundraising announced yet.

Order book

→The ongoing project pipeline stands at approximately INR 10,000 crores in GDV (Gross Development Value).
→New to-be-launched projects cover about 17 million square feet, feeding volume for FY 2026 and part of FY 2027.
→The company aims to nearly double the pipeline to 30-35 million square feet over the next 12 to 24 months.
→Currently, there are about 17-18 projects in advanced evaluation stages.
→Recent addition includes 3 projects totaling 1.1 million square feet with a GDV close to INR 1,000 crores.
→Majority of ongoing projects are mostly sold, with only about 20% remaining to be sold over next couple of quarters.
→The company is focused on doubling pipeline size to maintain robust volume for the upcoming years.

Capex plans

Yes

→New project investments amounted to about INR 40 crores in the recent quarter, indicating ongoing capital deployment.
→The company plans to add around 8 to 10 million square feet of new pipeline in the coming year, requiring substantial capital commitment.
→Land proceeds, including recent cash inflows of about INR 93 crores from land monetization in Chennai, are being used to support growth and new pipeline investments.
→To fund a pipeline of 15-17 million square feet (approx. INR 2,000 crores land value), the company balances equity and debt, as Shriram is not capitalized to fully fund growth from equity alone.
→Net debt reduction is a focus, but the company is willing to leverage for aggressive growth and capital commitments.
→Emphasis is on stabilizing presence in Pune before expanding further, indicating phased geographic expansion investment.
→No explicit new strategic investments beyond current markets are planned short-term; focus remains on core regions (Bangalore, Chennai, Pune, Kolkata).

How does Shriram Properties Ltd rank vs peers in Realty?

Pro feature

1Shriram Properties Ltd

Rev 2Mar 3

See full Realty sector rankings

Want more stocks like Shriram Properties Ltd?

Build an AI portfolio filtered by sector, market cap, and growth rank. Takes 2 minutes.

Build my portfolio