Shriram Properties Faces Short-Term Net Loss Amid Sector Challenges

Realty firm Shriram Properties reported a consolidated net loss of Rs 99 lakh in the September quarter, a downturn from the previous year's net profit of Rs 20.15 crore. Despite this short-term setback caused by reduced launches, the company remains optimistic about long-term growth, supported by a strong project pipeline.

Shriram Properties has reported a consolidated net loss of Rs 99 lakh for the September quarter, a significant shift from the Rs 20.15 crore net profit registered in the same period last year.

The firm's total income decreased to Rs 155.1 crore from Rs 231.24 crore in the previous year, as revealed in a regulatory filing on Thursday.

Despite these short-term challenges attributed to fewer launches, Chairman and Managing Director Murali M expressed confidence in the long-term prospects, emphasizing the company's strong market presence, strategic initiatives, and robust project pipeline.

(With inputs from agencies.)