Shriram Properties jumps on targeting 25% growth in sales bookings this fiscal
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Shriram Properties is currently trading at Rs. 66.47, up by 1.19 points or 1.82% from its previous closing of Rs. 65.28 on the BSE.
The scrip opened at Rs. 65.58 and has touched a high and low of Rs. 66.90 and Rs. 65.47 respectively. So far 35110 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 94.10 on 13-Sep-2022 and a 52 week low of Rs. 53.25 on 29-Mar-2023.
Last one week high and low of the scrip stood at Rs. 68.28 and Rs. 64.85 respectively. The current market cap of the company is Rs. 1132.15 crore.
The promoters holding in the company stood at 28.00%, while Institutions and Non-Institutions held 13.19% and 58.80% respectively.
Shriram Properties is targeting a 25 per cent growth in sales bookings this fiscal from a record Rs 1,846 crore in the previous year on strong housing demand. The company achieved an all-time high sales bookings of Rs 1,846 crore last fiscal, up 25 per cent from Rs 1,482.4 crore in the previous year, driven by higher volumes, better realisation and change in product mix.
The average annual sales realisation grew 8 per cent annually during the last financial year. The company would launch multiple housing projects this fiscal to tap the rise in housing demand. On the financial performance front, the company's net profit jumped nearly four times to Rs 68.2 crore last fiscal, from Rs 18.03 crore in the previous year.
Shriram Properties is one of the leading residential real estate development companies in South India, primarily focused on the mid-market and affordable housing categories.
