Shriram Properties reported robust FY’25 despite regulatory delays pushing revenue recognition to Q4. Full-year sales reached 4.3 mn sq.ft with a sales value of Rs. 2,288 Cr, revenues near Rs. 973 Cr, EBITDA at Rs. 203 Cr (21% margin), and PAT Rs. 77 Cr. Collections hit a record Rs. 1,484 Cr, lowering net debt 26% to Rs. 326 Cr. Q4 revenues jumped 138% QoQ to Rs. 428 Cr with PAT up 137% YoY. Focus remains on mid and mid-premium homes (~74% demand). FY’26 aims for 5.2–5.5 mn sq.ft sales, Rs. 3,000–3,300 Cr sales, and 3,300+ units handed over. Margins expected to improve to 22–25%, supported by disciplined land acquisition and strong cash flow. Management is confident on smoother regulatory processes and steady growth ahead.