CHENNAI: Real estate developer Shriram Properties posted a 17% decline in the net for the third quarter of FY24 with Rs 18.5 crore against `22.4 crore in the same period last year.
Total revenues stood at Rs 241 crore, witnessing an 8% growth. Sales for the nine month period ended in December witnessed a 12% growth on a yearly basis, though sales slowed to 6% in the quarter.
SPL hoped its entry into the Pune market and project approvals would spur growth in the current (Q4 FY24). It has signed a development management agreement for a residential project at Undri, Pune, marking the entry into a key market. The project with sales value potential of over `1,300 crore will be executed over the next 3- 4 years.