Shriram Properties’ best ever operational performance, annual sales at a new high

Bengaluru, April 21, 2022: Shriram Properties Limited reported its highest-ever sales volume, sales value as well as record high collections and construction for the financial year ended March 31, 2022.

According to a press release issued by the company, it achieved sales volumes^[2] of 1.17 msf in Q4FY22, supported by 4 launches, reflecting 14% growth over Q3 FY22. For the full year, aggregate sales volumes reached a record high of 3.76 msf in FY22, up 25% year-on-year.

Projects under the Development Management (DM) model accounted for 28% of sales volumes in FY22, while share of plotted development in overall sales stood at 25% during FY22.

Aggregate sales value reached an all-time high of Rs.1,482 crores in FY22, up 19% YoY. Quarterly sales value at Rs.479 crs in Q4 reflected a growth of 15% QoQ, compared to Rs.416 crs in Q3.

Aggregate collections too were at a new high of Rs.1,263 crores in FY22, up 37% YoY. Quarterly collections at Rs.361 crores in Q4, reflected a growth of 7% QoQ.

Thrust on execution continued with construction spend growing 61% QoQ to Rs.221 crores in Q4FY22. Consequently, aggregate construction spending for the full year stood at Rs.644 crores in FY22, up 157% YoY.

The company had 4 new launches with aggregate saleable area of over 1.50 msf in Q4, and 12 launches with aggregate saleable area of 3.5 msf for the full year, across its core markets of Bengaluru and Chennai.

The Company’s conscious efforts to increase realisation has been successful. Average realisation for residential apartments in most cases has gone up by around 6-10% from Sep ’21 levels, while new launches are delivering above initial expectations.

On a comparable basis, average realisation for plotted development and residential apartments stood at Rs.2,365/sqft and Rs.4,616/sqft respectively in FY22.

Commenting on the performance, M Murali, Chairman and Managing Director, Shriram Properties Ltd said: “We are encouraged by the continued strong performance on all key operating parameters during the quarter and achieving new high on most KPIs. This reinforces our confidence on the strength of the operating platform and sustaining growth momentum for greater volumes and enhanced profitability and returns in the coming years”.