Shriram Properties' net profit dips 75.60%
ECONOMY & POLICY

Shriram Properties' net profit dips 75.60%

In the three months that ended on March 31, 2023, Shriram Properties (SPL)'s net consolidated profit fell by 75.60%. The company reported in a BSE filing that its profit after tax decreased from 648.3 million in the same quarter of the previous fiscal to 158.2 million in the fourth fiscal quarter of this year.

Net consolidated total income for the company was 1709.7 million in the fourth fiscal quarter of FY23, down 27.71 percent from the 2365.2 million it reported in the same period last year.

According to M Murali, the company's chairman and managing director, "FY23 earnings turnaround is positive and we are confident of continuing increase in earnings and profitability.

SPL reported sales volumes of 4.02 million square feet and a $1,8460 million dollar value for FY23.

The business has managed to maintain sales momentum throughout the quarters, despite two launches being postponed to FY24 and two launches being delayed from Q3 to end-Q4.

In the three months that ended on March 31, 2023, Shriram Properties (SPL)'s net consolidated profit fell by 75.60%. The company reported in a BSE filing that its profit after tax decreased from 648.3 million in the same quarter of the previous fiscal to 158.2 million in the fourth fiscal quarter of this year. Net consolidated total income for the company was 1709.7 million in the fourth fiscal quarter of FY23, down 27.71 percent from the 2365.2 million it reported in the same period last year. According to M Murali, the company's chairman and managing director, FY23 earnings turnaround is positive and we are confident of continuing increase in earnings and profitability. SPL reported sales volumes of 4.02 million square feet and a $1,8460 million dollar value for FY23. The business has managed to maintain sales momentum throughout the quarters, despite two launches being postponed to FY24 and two launches being delayed from Q3 to end-Q4.

Next Story
Infrastructure Urban

Arya Omnitalk Powers India’s Toll Revolution with AI-Driven Solutions

Arya Omnitalk, a leader in intelligent transportation systems, is revolutionising toll collection across India’s national highways with its advanced AI-powered Toll Management Solutions. Designed for rugged remote toll locations, the company’s cutting-edge technology ensures seamless, reliable, and secure tolling—especially during high-capacity operations exceeding 200%. By integrating real-time analytics, cyber protection, and FASTag-based cashless tolling, Arya Omnitalk’s systems are significantly reducing congestion, improving transparency, and enhancing revenue assurance. Its full..

Next Story
Infrastructure Urban

Over 800 Join Anant Raj Runathon to Mark Earth Day

Over 800 participants came together at Anant Raj Estate, Sector 63A, Gurugram, for the Anant Raj Runathon 2025—a vibrant celebration of Earth Day through fitness, community bonding, and sustainability. Curated by renowned running coach Ravinder, the event featured four categories: 10-mile and 5-mile timed runs, a 5-mile walkathon, and a 1-mile kids’ run. Runners of all ages took to the green, scenic roads of the area—some chasing personal bests, others running for a cause. The Runathon was designed to promote healthy living while raising awareness about sustainable practices. Participa..

Next Story
Infrastructure Urban

PETRONAS Lubricants, Quaker Houghton Ink Strategic Deal

In a significant step towards strengthening industrial operations in India and Malaysia, PETRONAS Lubricants India Pvt. Ltd (PLIPL) and Quaker Houghton have announced a strategic partnership aimed at delivering high-performance industrial fluid solutions to key manufacturing sectors, including steel production. The collaboration combines the strengths of both companies—leveraging PETRONAS Lubricants India’s maintenance lubricant technologies and Quaker Houghton’s deep expertise in metalworking fluids. Starting from the second quarter of 2025, Quaker Houghton will begin offering PETRONAS..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?