Shriram Prop building well

Shriram Properties is making some buzz today; the stock, which had closed yesterday at Rs.77, opened today at Rs.77.40 and went up to an intraday high at Rs.80.95.Its 52-week high is at Rs.115.75.

The company reported impressive performance with highest-ever sales volume, sales value as well as record high collections and construction for FY22.

1: It achieved sales volumes of 1.17 msf in Q4FY22, supported by 4 successful launches, reflecting 14% growth(QoQ). For the full year, aggregate sales volumes reached a record high of 3.76 msf in FY22, up 25% (YoY).

2: Projects under the Development Management (DM) model accounted for 28% of sales volumes in FY22.

3: Share of plotted development in overall sales stood at 25% during FY22.

4: Aggregate sales value reached an all-time high of Rs.1,482 crores in FY22, up 19% YoY.

5: Quarterly sales value at Rs.479 crs in Q4 reflected a growth of 15% QoQ,.

6: Aggregate collections too were at a new high of Rs.1,263 crores in FY22, up 37% YoY.

The company is positive about the months ahead, saying that overall construction momentum remains strong and should support timely completion and delivery of ongoing projects, and collection momentum in the coming quarters.