Shraddha Prime Projects H1 PAT Rises 156% to ₹44.31 Crore

Shraddha Prime Projects Limited reported H1 FY27 profit after tax of ₹44.31 crore, up 155.84% year-on-year, while revenue rose 37.59% to ₹265.60 crore. The Mumbai-focused real estate developer also reported EBITDA of ₹53.39 crore, up 136.57%, and announced the Pandora by Shraddha and Param Adarsh projects.

What did Shraddha Prime Projects report for H1 FY27?

Shraddha Prime Projects reported consolidated revenue of ₹265.60 crore for the six months ended September 30, 2026, compared with the corresponding period a year earlier. Its profit after tax rose to ₹44.31 crore, while EBITDA increased to ₹53.39 crore. The company said the performance was supported by new project launches and margin expansion.

The un-audited standalone and consolidated results for the second quarter and six months ended September 30, 2026, were approved by the board on November 5, 2026. The reported half-year figures show profit growth outpacing revenue growth, with PAT increasing 155.84% year-on-year against a 37.59% increase in revenue.

For the September quarter alone, Shraddha Prime Projects reported consolidated revenue of ₹132.02 crore, down 1.7% year-on-year. Quarterly net profit rose 208% year-on-year to ₹24.93 crore. The difference between the quarterly revenue trend and the half-year revenue growth indicates that the first-quarter contribution was important to the six-month performance.

Which projects has Shraddha Prime Projects launched?

Shraddha Prime Projects announced two developments, Pandora by Shraddha and Param Adarsh, as part of its project pipeline. Pandora is located in Nahur West, Mumbai, where the company operates primarily in residential and commercial development, construction, leasing and redevelopment.

The company announced the Pandora launch on October 12, 2026. It reported approximately ₹60 crore of bookings on the first day, representing 110 units out of a total 471 units. The project has an estimated gross development value of ₹220 crore.

The disclosed Pandora booking data provides an early measure of sales activity for the project, though it does not represent recognised revenue. Revenue recognition in real estate depends on project execution and applicable accounting requirements. No financial or operational details for Param Adarsh were provided in the available announcement.

What business expansion steps did the board approve?

Shraddha Prime Projects' board approved the acquisition of stakes in three entities for business expansion on November 5, 2026. The proposed stakes are 75.87% in Shree Aadikaveer Realtors LLP, 25% in Shraddha Yog Lifespaces LLP, and 94% in Has Lifespaces Pvt Ltd.

The company has not disclosed financial consideration, completion dates, or expected earnings contribution for these acquisitions in the supplied information. Therefore, their immediate financial effect cannot be quantified from the available disclosures. The approvals nevertheless add to the company's stated expansion activity alongside new project launches.

Shraddha Prime Projects is a BSE-listed company, and its securities have also been admitted to dealings on the National Stock Exchange of India. Its operations are primarily concentrated in Mumbai, a market where redevelopment and new residential launches are central to developers' project pipelines.

How do the results affect investors and the real estate business?

The results show a marked increase in profitability during H1 FY27, with EBITDA and PAT growing faster than revenue. This indicates the margin expansion cited by the company had a material effect on the six-month outcome, although the company has not provided a detailed segment-level explanation in the supplied disclosures.

For investors, the quarterly figures present a mixed operating picture. Q2 revenue was 1.7% lower year-on-year, but quarterly profit increased 208%. New-project booking announcements and planned entity acquisitions are relevant because they may influence future project execution, cash requirements and business scale, but the disclosed information does not provide guidance on their eventual financial contribution.

A separate company snapshot cited in the source notes a difference between an FY2025 annual report statement and a March 2026 SEBI filing on promoter pledging. The snapshot states that 70,000,000 shares, or 17.33%, were pledged to HDFC Bank for a Shraddha Housing Projects LLP loan, bringing total encumbrance to 57.45% of equity. This information is presented as a disclosure contradiction in the supplied material and should be assessed against the underlying regulatory filings.

Conclusion

Shraddha Prime Projects delivered H1 FY27 revenue growth of 37.59% and PAT growth of 155.84%, supported by reported margin expansion and new-project activity. Pandora's reported first-day bookings of about ₹60 crore provide a disclosed sales milestone, while the Q2 revenue decline shows that quarterly operating trends remained uneven.

The next items to watch are the execution and sales progress of Pandora, details of Param Adarsh, and further disclosures on the approved acquisitions of stakes in three entities. Investors may also monitor subsequent regulatory filings for clarity on promoter share encumbrance and any changes in the company's pledged-share position.