Shriram Properties (SPL) has reported a strong start to FY26, with record-high first quarter sales of 0.8 million sq ft, valued at Rs 4.41 billion, marking a 17 per cent year-on-year growth. The performance was driven by robust sustenance sales and the successful launch of its maiden Pune project, codenamed “Superstar,” which received an encouraging market response.

Pre-launch efforts for the Bengaluru project “The One” in Electronic City also generated strong demand ahead of its July 2025 launch. SPL expects pre-sales volumes to gain further momentum in the coming quarters, supported by new launches.

Collections for Q1 stood at Rs 3.38 billion, up 5 per cent Y-o-Y, despite a high base in Q4 FY25 due to increased handovers. The company delivered over 740 homes and plots during the quarter, continuing the momentum from the record-high handovers in the previous quarter.

On the business development front, SPL added a new project with a gross development value of approximately Rs 2 billion in Q1. It is in advanced stages of due diligence for six additional projects with a combined development potential of around 3 million sq ft. The company is also evaluating projects with over 23 million sq. ft. potential across its core markets.

With nearly 80 per cent of on-going projects already sold, SPL aims to focus on timely execution and delivery to accelerate revenue recognition. The company remains confident in its medium-term outlook, supported by a healthy launch pipeline and a favourable industry cycle.

Commenting on the results, Murali M, Chairman and Managing Director, Shriram Properties, said:

“Q1 results reaffirm the strength of our operating platform. Our Pune entry has been successful, and we are committed to expanding our presence further. We remain focused on adding to our pipeline and accelerating execution to unlock cash flows from ongoing projects for superior value creation.”