Q1 net profit relied on Rs 42.91 cr of other income
Operating margin was -2.17%; management attributed the quarter's moderation to a high Q4 handover base and back-ended launches.
Filed 12 Aug 2026, 19:39 IST · after market close · SHRIRAMPPS (SHRIRAMPPS)
Key takeaways
- The consolidated quarter recorded an operating loss of Rs 4.86 cr even as other income was Rs 42.91 cr.
- Management said Q1 launches were back-ended, while the FY27 launch calendar includes 10+ potential launches totalling 7.23 msf.
- The company invested Rs 88 cr in new projects during Q1 FY27, against management's FY27 guidance of 7.0-8.0 msf of pipeline additions.
Operating loss leaves reported profit dependent on non-operating income
The consolidated quarter produced an operating loss of Rs 4.86 cr on revenue of Rs 224.28 cr, but reported profit before tax of Rs 14.24 cr. Other income was Rs 42.91 cr, while interest cost was Rs 21.20 cr, making earnings quality weaker than the net profit of Rs 11.04 cr suggests. The tax rate was 22.47%.
Q1 handover mix and launch timing weighed on the quarter
Management said revenue growth moderated because the prior quarter had a large handover base and Q1 handovers were skewed towards Kolkata projects. The company also said launches were back-ended, limiting their contribution in Q1. Management reported three launches during the quarter, including two new projects in Kolkata and Chennai and a new Chennai phase, and said it invested Rs 88 cr in new projects.
FY27 plans centre on new supply and a larger project pipeline
Management's FY27 guidance targets sales volume of 5.0-5.5 msf, sales value of Rs 3,300-3,500 cr, collections of Rs 2,100-2,200 cr and 3,750-3,800 handovers. The company said it plans to complete 7-8 projects and deliver 4.0-4.5 msf, while adding 7.0-8.0 msf to its pipeline and Rs 5,000-6,000 cr of GDV. Management also said it expects revenue recognition to remain robust, supported by proactive planning and e-Khata buffers.
After-close filing leaves the immediate stock response to be seen
The consolidated results were filed after market close on 12 Aug 2026. The immediate share-price response is therefore not part of this update, and the available history does not provide a prior-results reaction benchmark.
Q1FY27 at a glance
Consolidated figures as filed with NSE — filed ahead of third-party databases, not yet independently cross-checked.
| Line item | Q1FY27 |
|---|---|
| Revenue | ₹224 cr |
| Other income | ₹43 cr |
| Expenses | ₹229 cr |
| Operating profit | ₹-5 cr |
| Operating margin (%) | -2.17% |
| Interest | ₹21 cr |
| Depreciation | ₹3 cr |
| Profit before tax | ₹14 cr |
| Tax | ₹3 cr |
| Net profit | ₹11 cr |
| EPS (₹) | ₹0.65 |
What management said
From the company’s own investor presentation. Each point is checked against the source document before it appears here.
This quarter
- The company completed three successful Q1 launches: two new projects in Kolkata and Chennai and one new Chennai phase launch.
- New launches in Kolkata and Chennai received a strong customer response and drove healthy sales momentum.
- Healthy customer collections and sustained construction progress provided visibility for scheduled handovers and future revenue recognition.
Guidance & outlook
- FY27 guidance targets sales volume of 5.0-5.5 msf, sales value of ₹3,300-3,500 crore, collections of ₹2,100-2,200 crore and 3,750-3,800 handovers.
- FY27 guidance includes completion of 7-8 projects, 4.0-4.5 msf of project delivery, 7.0-8.0 msf of pipeline additions and ₹5,000-6,000 crore of GDV additions.
- Management expects FY27 revenue recognition to remain robust, supported by proactive planning and e-Khata buffers.
- Management aims to nearly double its upcoming project pipeline over 18-24 months.
Expansion
- The FY27 launch calendar includes 10+ potential new launches across Kolkata, Chennai, Pune and Bengaluru, totalling 7.23 msf.
- Around 6 msf of new supply and new phases in existing projects are planned to drive FY27 sales growth.
- The company invested ₹88 crore in new projects during Q1 FY27.
New products
- The company launched Shriram Southbrook in Kolkata as a new plotted development project.
New initiatives
- The company entered Chennai's premium residential segment with a premium offering to reinforce its brand and premiumize its portfolio.
- The company expanded its product portfolio across plotted developments, villas and commercial projects in Kolkata.
- The company launched plots as a new product segment to expand reach and diversify its product portfolio.
Problems & risks
- Revenue growth moderated because of the large Q4 handover base and a handover mix skewed toward Kolkata projects.
- The company said launches were back-ended, limiting their impact in Q1.
- Several planned projects still had approvals awaited or approval work in progress.
What to watch
- Whether operating margin improves from -2.17% in the next reported quarter.
- Progress towards FY27 sales volume guidance of 5.0-5.5 msf and 3,750-3,800 handovers.
- Whether project delivery tracks management's 4.0-4.5 msf FY27 guidance.