Shriram Properties lists Rs 1,157 crore for FY27 H2 handovers

Shriram Properties lists Rs 1,157 crore of revenue across 2,295 pending handovers in the second half of FY27, and management says this schedule supports its full-year target of 3,750-3,800 handovers. The largest bucket, 107 South East Phase-3, contains Rs 352 crore and 796 pending units, with an Occupancy Certificate (OC) and approvals likely in Q3 for Towers 13 and 14.

What is Shriram Properties’ H2 FY27 handover revenue pipeline?

Shriram Properties’ H2 FY27 schedule identifies 2,295 pending handovers from sold units and Rs 1,157 crore of revenues across 3.39 million square feet (msf) of sold area. Those units sit within seven listed project buckets covering 3.73 msf of project area and 3,825 total units. The presentation frames this pipeline as its handover and income-recognition outlook for the second half of FY27.

The project-level table is more specific than the preceding summary slide, which refers to “8+” projects, “2,200+” units and Rs 1,100+ crore of revenue potential for the remainder of H2. That earlier slide also adds 260+ units and Rs 320+ crore from recent completed projects, producing stated potential for the remainder of the year of 2,460+ units and Rs 1,400+ crore. The presentation does not reconcile those rounded summary buckets with the seven-bucket table, so they should not be treated as identical project populations.

Which Shriram Properties projects account for the most pending handovers?

Shriram Properties’ 107 South East Phase-3 in Bengaluru is the largest single handover bucket, with 796 pending units and Rs 352 crore of revenues. Sunshine Two in Kolkata follows with 776 pending units and Rs 245 crore. Together, the two projects account for 1,572 of the 2,295 pending units and Rs 597 crore of the Rs 1,157 crore total.

The other five buckets are more dispersed. Southbrook in Kolkata has 241 pending units and Rs 132 crore, Grand One has 168 units and Rs 56 crore, Other Key Projects in Bengaluru has 141 units and Rs 168 crore, and Sunshine One has 110 units and Rs 22 crore. Esquire has the smallest pending-unit count at 63, but its Rs 182 crore revenue figure exceeds Grand One, Southbrook and Other Key Projects.

How does Shriram Properties’ H2 schedule differ between Bengaluru and Kolkata?

Shriram Properties’ Bengaluru buckets carry the larger revenue value at Rs 702 crore, compared with Rs 455 crore for Kolkata, while Kolkata has more pending handovers at 1,295 versus Bengaluru’s 1,000. Bengaluru’s three buckets comprise 107 South East Phase-3, Esquire and Other Key Projects; Kolkata’s four are Sunshine One, Grand One, Sunshine Two and Southbrook. The regional mix therefore differs depending on whether the measure is scheduled revenue or unit handovers.

Bengaluru also has 1.78 msf of sold area in the schedule, compared with 1.61 msf in Kolkata, despite having 295 fewer pending units. At project level, 107 South East Phase-3 has 0.84 msf sold out of 0.86 msf of project area, while Sunshine Two has 0.59 msf sold out of 0.66 msf. The presentation provides no average selling-price or unit-size data, so it does not establish the reason for the regional difference.

Which approvals matter for Shriram Properties’ H2 FY27 handovers?

Shriram Properties identifies approvals as the remaining milestone for five of the seven project buckets. At 107 South East Phase-3, construction is on track and OC and approvals are likely in the third quarter, or Q3, for Towers 13 and 14, with the remainder expected by the end of H2. That timing matters because this one bucket represents Rs 352 crore and 796 of the scheduled 2,295 pending handovers.

Sunshine Two, Southbrook and Esquire are each described as construction on track, with approvals targeted for Q4. Their combined schedule is 1,080 pending units and Rs 559 crore of revenue, or nearly half of the stated Rs 1,157 crore total. Other Key Projects, with Rs 168 crore and 141 pending units, has approvals likely by the end of Q3. “Targeted” and “likely” are management’s stated timing descriptions rather than completed approval events.

Two Kolkata projects already have the stated OC milestone. Sunshine One, covering Towers 1A and 3D, has received OCs for both towers and has 110 pending handovers linked to Rs 22 crore. Grand One, covering Clusters F and G, has also received OCs for both clusters and has 168 pending units linked to Rs 56 crore. These completed OC disclosures distinguish 278 units and Rs 78 crore of the schedule from the five buckets still awaiting approvals.

How does the H2 pipeline support Shriram Properties’ FY27 target?

Shriram Properties says it is on track to hand over 3,750-3,800 units in FY27, and the 2,295 pending handovers in its H2 schedule equal about 60% to 61% of that full-year range. The schedule therefore supplies a material disclosed component of the annual objective. However, the presentation does not state the number of H1 FY27 handovers on these pages, so the gap between the 2,295 listed units and the annual target cannot be allocated between completed H1 handovers and other FY27 projects.

Management’s FY27 guidance also targets 5.0-5.5 msf of sales volume, Rs 3,300-3,500 crore of sales value and Rs 2,100-2,200 crore of collections. It guides for completion of seven to eight projects and project delivery of 4.0-4.5 msf. Management attributes its confidence to an H2 launch lineup and project completions it says are on track, while stating it is striving to continue its “Ahead of RERA” trend in FY27.

Conclusion

Shriram Properties’ disclosed H2 FY27 handover schedule is concentrated in a small number of projects: 107 South East Phase-3 and Sunshine Two alone account for 1,572 pending units and Rs 597 crore of the Rs 1,157 crore total. Bengaluru contributes more scheduled revenue at Rs 702 crore, while Kolkata carries more remaining handovers at 1,295 units, making execution in both regions relevant to the full-year outcome.

The next milestones are the OC and approvals management says are likely in Q3 for portions of 107 South East Phase-3 and Other Key Projects, and the Q4 approvals targeted for Sunshine Two, Southbrook and Esquire. Those five approval-dependent buckets represent 2,017 pending units and Rs 1,079 crore in scheduled revenue, while management’s stated FY27 handover target remains 3,750-3,800 units.