i. M. Murali, is the Chairman and Managing Director and individual Promoter of the Company. He has completed the executive education Fast Track General Management Programme conducted by Indian Institute of Management, Bangalore and Owner/President Management programme conducted by the Harvard Business School, Massachusetts. He has over 17 years of work experience with the Company and was first appointed as a Director of theThe Offer comprises of the Fresh Issue and the Offer for Sale. Company on March 30, 2003. He was appointed as a Chairman and Managing Director on December 13, 2018. He has received the Life Time Achievement Award for Outstanding Contribution to Real Estate Sector at the DNA Real Estate and Infrastructure Round Table & Awards in November, 2018, South India’s Real Estate Leadership Lifetime Achievement Award for Outstanding Contribution to the Real Estate Sector in September 2018, the M.D. of the Year from Times Network National Awards for Marketing Excellence in July 2018, M.D. of the Year from ET Now Star Awards in December 2018 and the M.D. of the Year (Real Estate) from ET Now Real Estate Awards in February 2019. ii. S. Natarajan, is a Non-Executive Director of the Company. He is a member of the Institute of Chartered Accountants of India since 1975. He is on the board of various other companies, such as Binny Mills Limited, Calcom Credit and Holdings Private Limited, Envestor Ventures Limited, Integrated Enterprises (India) Private Limited, Sipping Spirits Private Limited etc. He has been associated with the Shriram group for over 17 years and has been a Director of the Company since March 30, 2003. iii. Raphael Dawson is a Non-Executive Nominee Director of the Company. He holds a bachelor’s degree in science (individual major) and a master’s degree in science – business (major in business, real estate appraisal and investment analysis) from University of Wisconsin - Madison. He has more than 15 years of work experience and is currently a Principal with Walton Street Capital, LLC. At Walton Street Capital, LLC, he is responsible for the development and asset management functions in United States, Mexico and India. He has been a Director of the Company since March 14, 2014.

 

Particulars (in Millions)	Mar 21	Mar 20
Revenue	4,315	5,719
Land cost	272	255
Material and construction cost	1,375	2,261
Changes in inventories	738	1,006
Employee benefits expense	634	847
Impairment losses	226	20
Other expenses	555	1,022
Operating profit	513	305
OPM %	12%	5%
Other Income	698	598
Finance Cost	1,253	1,231
Depreciation	65	64
Profit Before tax	-681	-863
Profit After Tax	-675	-864
EPS	-4.60	-5.8

Review and Recommendation of Shriram Properties by InvestorZone is 3/10 1. Nothing great in the company in terms of financials. Revenue dipped in FY21 due to covid-19 and bottom-line is continuously posting losses. 2. Mcap Pre-IPO is Rs.1746 Crores and Post-IPO is Rs. ~2000 Crores. Mcap/Sales = 4.4x 3. Peers like Godrej Properties and Sobha Limited are trading at Mcap/Sales of 23x and 2.1x, respectively.  We can not compare with Godrej as it is great brand. And, if we compare with Sobha Limited, then valuation looks stretched. 4. Real Estate as a sector is doing well due to low interest rates and lower prices of properties.

Shriram Properties Limited Lakshmi Neela Rite Choice Chamber, New No. 9, Bazullah Road, T. Nagar, Chennai 600017, Tamil Nadu, India Phone: +91 44 4001 4410 Email: cs.spl@shriramproperties.com Website: https://www.shriramproperties.com/