Shriram Properties Q3 FY26: Kolkata Land Issue Resolved; Sales of ₹1,691 Crore
Shriram Properties resolved its Kolkata land dispute, conveying 42.37 acres to the government and discharging a ₹259 crore liability. Sales for 9 months FY26 reached ₹1,691 crore. The company expects FY26 revenues of ₹1,300-1,500 crore and PAT of ₹90-100 crore. Kolkata land offers potential cash flows over ₹1,500 crore.
The resolution of the Kolkata land dispute removes a major overhang and liability for the company, which is a significant positive event. The projected revenue and earnings for FY26, along with the future monetization potential of the Kolkata land, indicate a substantial positive impact on the company's financial health and growth prospects.
The resolution of the long-pending Kolkata land parcel issue without cash outflow is a significant positive development. Despite some temporary setbacks in revenue recognition due to procedural delays, the company's core operations remain strong, and future outlook is positive with planned launches and expected revenue growth.
Shriram Properties Limited announced the amicable resolution of a long-pending commercial matter concerning its Kolkata land parcel. This involves the conveyance of 42.37 acres to the government of West Bengal, fully discharging the associated liability of approximately ₹259 crores without any cash outflow. The company has initiated the withdrawal of litigation against the state as part of this settlement.
Despite external challenges related to approvals and e-katha, Shriram Properties maintained healthy core business operations. Customer demand remained encouraging, project execution proceeded as planned, and the sustenance portfolio generated steady traction. For the nine months ended FY26, the company reported sales of 2.9 million square feet, valued at ₹1,691 crores. Looking ahead, with multiple launches planned and regulatory matters largely resolved, Shriram Properties anticipates a strong rebound in Q4 FY26, supported by project completions and revenue recognition.
The company's operational performance in Q3 FY26 saw revenue of ₹203 crores, a 13% year-on-year growth, with gross profit at ₹41 crores, up 19%. However, a net loss of ₹7 crores was reported for the quarter, attributed to timing differences in revenue recognition due to procedural delays in Karnataka. On a nine-month basis, revenue grew 27% to ₹694 crores, and PAT stood at ₹22 crores. The company expects to end FY26 with revenues between ₹1,300-1,500 crores and earnings in the range of ₹90-100 crores.
Shriram Properties is focused on accelerating execution, strengthening cash flow generation, and unlocking value across its portfolio. The Kolkata land parcel has a development potential of approximately 10 million square feet, with plans to develop about 5-6 million square feet and monetize the remaining land over the next three to five years, potentially unlocking cash flows exceeding ₹1,500 crores. The company maintains a conservative net debt-to-equity ratio of 0.3x.
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Shriram Properties Limited filed this with the NSE as a statutory disclosure, categorised under other corporate actions. It is a primary document, not a recommendation, and the desk marks it high impact, which is the band that most often changes something.
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