Shares of Shriram Properties Ltd fell 1 percent on December 5 following a block deal involving 16.80 million shares or 10 percent stake of the company, worth Rs 214 crore, according to Bloomberg.
However, details of the buyers and sellers were not known yet. At 9.40am, the stock was trading at Rs 118 on the BSE, down 1 percent from its previous close.
Shriram Properties achieved a 40 percent growth in sales booking, reaching Rs 608 crore in the second quarter of this fiscal due to increased demand for its housing projects. Sales bookings stood at Rs 435 crore in the same period last year. The company's sales bookings also grew 14 percent in terms of area, from 1.01 million sq ft to 1.15 million sq ft during July-September compared to the previous year.
In the second quarter ended September 30, 2023, Shriram Properties reported a 3 percent on-year rise in net profit to Rs20.2 crore from Rs 19.7 crore. Sequentially, there was a 21 percent increase.
Total revenues declined 16 percent year-on-year to Rs 231.3 crore, yet sequentially, they surged 47 percent. The EBITDA for the quarter reached Rs 65.2 crore, marking a 27 percent on-year jump and a 20 percent on-quarter growth.
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