ICICI Securities has issued a bullish call on Shriram Properties with a target price of Rs 125 per share. The brokerage sees over 60 percent upside from current levels. This target applies for the next twelve months.
Share Price Details and Target
Shriram Properties closed at Rs 77.91 in the previous session. The target of Rs 125 implies a gain of more than 60 percent. The stock has a 52-week high of Rs 99.50 and a low of Rs 60.80. It currently trades below the Rs 100 mark.
June Quarter Results Show Profit Drop
Shriram Properties reported a 46 percent decline in net profit for the June quarter of fiscal 2027. Profit fell to Rs 11.04 crore from Rs 20.59 crore a year earlier. Total income rose slightly to Rs 271.04 crore from Rs 261.54 crore. Higher operating expenses and tax costs weighed on earnings. Joint venture projects also posted losses. Sales bookings grew 10 percent to Rs 484 crore. The company operates in Bengaluru Chennai Pune and Kolkata.
FY27 Pre-Sales Guidance Strong
ICICI Securities analyst Pankaj Pandey notes the company targets Rs 3,300 to 3,500 crore in pre-sales for FY27. This represents 40 to 49 percent year-on-year growth. A strong launch pipeline of around Rs 6,000 crore supports this outlook. Sustenance sales from existing projects may add Rs 1,400 to 1,500 crore.
Nifty Target Set at 28,000 Points
ICICI Securities expects the Nifty 50 to hit 28,000 points in twelve months. The Sensex target stands at 93,000 points. The brokerage says the market is in a consolidation phase. Nifty has slipped 0.60 percent in August so far. Q1 FY27 marked the fourth straight quarter of double-digit earnings growth. Nifty earnings may compound at 16 percent CAGR from FY26 to FY28.
