What is the difference between the old and new Mission 1234 target?

The target is still ₹250 crore in profit. The metric changed from profit after tax to profit before tax, which is a downgrade because it strips out the tax burden.

What is the company's FY27 guidance?

Management guided for sales value of ₹3,300-3,500 crore, collections of ₹2,100-2,200 crore, and handovers of 3,750-3,800 units.

How did the margin expectation change?

Expected normalized PAT margins were lowered to 8-9% from a prior target of 10%.

What is the longer-term aspiration?

Management reiterated its goal of ₹5,000 crore in sales and ₹2,500 crore in revenue by FY28, supported by projects with over ₹15,000 crore in potential revenue recognition over the next five to seven years.

Concalls · Real Estate · Small cap

Shriram Properties downgrades its long-term profit goal

The Mission 1234 target is now ₹250 crore pre-tax, not post-tax. Normalized margins were cut to 8-9% from 10%.

— 3 earlier stories on Shriram Properties Ltd. →

SHRIRAMPPS By Tipsheet Editorial 25 May 2026 · 6:26 PM IST Verify on BSE · NSE

Mkt cap₹1,560 cr

P/E15.47×

ROE5.69%

Debt / eq.0.48

₹3,300-3,500 cr FY27 sales value guidance.

What's new

FY27 guidance: sales ₹3,300-3,500 cr, collections ₹2,100-2,200 cr, handovers 3,750-3,800 units.
Mission 1234 target revised: profit goal is now ₹250 cr PBT, not ₹250 cr PAT.
Normalized PAT margin target lowered to 8-9% from a prior 10%.

Why this matters

The shift from a post-tax to a pre-tax target at the same nominal number is the real disclosure. It signals a structural hit to the bottom line, from higher interest or tax costs, that the earlier guidance ignored. The margin cut reinforces that view.

What we're watching

Whether the ₹15,000 cr revenue pipeline converts to actual launches.
Actual FY27 collections versus the ₹2,100-2,200 cr guide.
Progress on the 3,750-3,800 unit handover target.

The full read

Shriram Properties guided for ₹3,300-3,500 crore in FY27 sales. That's the new number. The bigger story is the long-term one: the Mission 1234 target, which aimed for ₹250 crore in profit after tax, now aims for ₹250 crore before tax. The nominal figure hasn't changed. The metric has, which is a downgrade. Normalized PAT margins were also cut to 8-9% from 10%. Management still talks about ₹5,000 crore in sales by FY28 and points to over ₹15,000 crore in potential revenue recognition. The profit guide, however, is where expectations reset. The margin is not what it was.

Questions answered

What is the difference between the old and new Mission 1234 target?: The target is still ₹250 crore in profit. The metric changed from profit after tax to profit before tax, which is a downgrade because it strips out the tax burden.
What is the company's FY27 guidance?: Management guided for sales value of ₹3,300-3,500 crore, collections of ₹2,100-2,200 crore, and handovers of 3,750-3,800 units.
How did the margin expectation change?: Expected normalized PAT margins were lowered to 8-9% from a prior target of 10%.
What is the longer-term aspiration?: Management reiterated its goal of ₹5,000 crore in sales and ₹2,500 crore in revenue by FY28, supported by projects with over ₹15,000 crore in potential revenue recognition over the next five to seven years.

Mentioned: Shriram Properties · Mission 1234 · FY27 guidance

Primary source BSE · NSE · Tijori

An independent reading of the company's own disclosure — the primary filing above is the final word.

Company snapshot

Shriram Properties Ltd.

Real Estate

₹1,500 cr

P/E 14.88×

Latest quarter · Mar 2026

Sales₹641 cr

Net profit₹96 cr

Op. margin+13.6%

EPS₹4.60

Strength & growth

Debt / equity0.48×

Current ratio1.46×

Story so far

All notes on SHRIRAMPPS →

25 May 2026 · 6:26 PM IST Shriram Properties downgrades its long-term profit goal
4d ago Shriram Properties' ₹600 cr JDA is 44% of its FY26 revenue
20d ago Shriram Properties posts ₹101 cr profit, sets ₹3,300-3,500 cr sales target for FY27
25d ago Shriram Properties posts first ₹1 bn profit year as revenue jumps 39%