Shriram Properties' net profit dips 75.60%

31 May 2023 CW Team

In the three months that ended on March 31, 2023, Shriram Properties (SPL)'s net consolidated profit fell by 75.60%. The company reported in a BSE filing that its profit after tax decreased from 648.3 million in the same quarter of the previous fiscal to 158.2 million in the fourth fiscal quarter of this year.

Net consolidated total income for the company was 1709.7 million in the fourth fiscal quarter of FY23, down 27.71 percent from the 2365.2 million it reported in the same period last year.

According to M Murali, the company's chairman and managing director, "FY23 earnings turnaround is positive and we are confident of continuing increase in earnings and profitability.

SPL reported sales volumes of 4.02 million square feet and a $1,8460 million dollar value for FY23.

The business has managed to maintain sales momentum throughout the quarters, despite two launches being postponed to FY24 and two launches being delayed from Q3 to end-Q4.

Building Material

18 Jun 2025

Viva ACP Secures EPD Certification for Sustainable Cladding

Viva, Asia鈥檚 largest manufacturer of aluminium composite panels (ACP), has announced the successful release of its Environmental Product Declaration (EPD) under the International EPD庐 System. This milestone affirms Viva鈥檚 commitment to sustainability, transparent environmental reporting, and eco-conscious manufacturing. The certification covers Fire-Retardant (FR) Class A2, FR Class B1, and Non-FR ACPs, assessing the environmental performance of 1m虏 of Viva ACP (4mm thick) throughout its lifecycle鈥攆rom raw material extraction to end-of-life recycling. The EPD reveals that up to 95..

Real Estate

18 Jun 2025

StarBigBloc Gets Shareholders鈥� Nod for IPO to Fund Expansion

StarBigBloc Building Material, a wholly owned subsidiary of BigBloc Construction Ltd (BSE: 540061), has received shareholder approval to raise funds through an Initial Public Offering (IPO). The move is aimed at unlocking shareholder value, securing growth capital, and potentially enhancing the overall valuation of BigBloc Construction. The IPO proposal was approved during the company鈥檚 Extraordinary General Meeting (EGM) held on 13th June 2025. The process remains subject to regulatory approvals, market conditions, and other applicable clearances. 鈥淭his is a significant mileston..

Resources

17 Jun 2025

RentenPe and Mygate Partner to Transform Rent Payments in India

Through a strategic partnership, RentenPe and Mygate aim to streamline rent payments and promote financial inclusion by enabling rent-based credit scores for Indian renters. RentenPe, India鈥檚 first Rent Credit Score鈩� platform and a pioneer in rental fintech innovation, has entered a significant alliance with Mygate, the leading community management app in the country. This partnership will transform rent transactions for millions of Indian households by embedding RentenPe鈥檚 payment and rent credit scoring technology directly within the Mygate app. With this integration, all ren..