Shriram Group

The sale of Shriram Finance's stake in SHFL was executed through Warburg Pincus' affiliate, Mango Crest Investment Ltd

Company reports assets under management of Rs 12,310 cr, expects number to be around Rs 13,500 by end of FY25

Shriram Life Insurance Company (SLIC) on Friday said it has reported a net profit of Rs 50 crore during the first half of the current fiscal. During the period, the insurance company, jointly promoted by Shriram Group and South Africa's Sanlam Group, sold 2.83 lakh individual policies in the first half, nearly double what it sold during the same period a year ago. The net profit of the company came down to Rs 50 crore from Rs 70 crore in the first half of the previous fiscal due to capacity expansion undertaken, Shriram Life Insurance Company MD and CEO Casparus JH Kromhout said. Branch expansion, fresh recruitment and investment in technology are being undertaken to expand business, he said. Presently, 50 per cent of the business comes from southern states, while remaining from other states. The company has plans to expand its footprint in other states, he said. Sharing other financial details, Kromhout said assets under management as of H1 FY25 was Rs 12,310 crore, up 21 per ce

Shriram General Insurance Company Ltd announced plans to re-enter the crop insurance portfolio as part of its diversification strategy. Shriram General Insurance, jointly owned by the diversified Shriram Group and Africa-based Sanlam Ltd, offers a range of general insurance products. In a statement on Tuesday, the company reported its financial performance for the July-September 2024 quarter, stating it achieved a 15 per cent year-on-year increase in Gross Written Premium (GWP), rising to Rs 861 crore from Rs 750 crore in the same quarter of the previous financial year. The company plans to add 20,000 financial agents during the current financial year, bringing the total to 90,000. For the six-month period ending September 30, 2024, the Gross Written Premium grew to Rs 1,594 crore, up from Rs 1,310 crore in the same period last year. Net profit for the six-month period ending September 30, 2024, increased to Rs 254 crore, compared to Rs 217 crore in the same period the previous ..

The standalone results do not include results of Shriram Automall India and Shriram Housing Finance, the latter of which the company said was being "held for sale" in its earnings statement

Shriram Group and South African financial services giant Sanlam jointly own Shriram Life Insurance and Shriram General Insurance

Shriram Finance shares hit all time high after the company plans to raise $1 bn from overseas in the next 6 months

NBFC Shriram Finance plans to raise USD 1 billion (about Rs 8,300 crore) from overseas in the next 6 months to fund its business growth. "We are planning to raise USD 300 million in the next few weeks, may be by October and rest USD 500-700 million during the remaining part of the current financial year," Shriram Finance Managing Director and CEO Y S Chakravarti told PTI. The fund raise would also include loans from development financial institutions like Asian Development Bank, Kfw, and United States Development Finance Corporation (DFC). The timing would depend on market conditions, he added. To fund its business growth, the Non-Banking Financial Company (NBFC) raises resources from diversified sources like public deposits, bank finance and raising money from domestic markets. On the loan growth, Chakravarti said, it is expected to increase 15 to 16 per cent during the current financial year. The company's Assets Under Management (AUM) stood at Rs 2.33 lakh crore at the end of J

Shriram Properties Ltd, the real estate division of the diversified conglomerate Shriram Group, would focus predominantly on medium housing segments as it aims to double sales volume, triple revenues over the next three years, a top official said on Friday. The company has rolled out a new brand identity SPLNxT (referring to Shriram Properties Ltd Next) which aims to transform the perception of Shriram Properties Ltd, elevating brand image, Executive Director and Group CEO Gopalakrishnan said here. The year 2024 also marks the silver jubilee year for the real estate entity and has completed over 42 projects across key cities. It has another 42 new projects in the pipeline, he said. Gopalakrishnan along with Shriram Properties Ltd Chairman and Managing Director Murali M and senior officials were here to announce the company's plans over the next three years. "As an integral part of SPLNxT, we are embarking on a mission that looks to double (sales) volume, triple income and quadruple

Last November, Reserve Bank of India asked all lenders to set aside more capital on loans given to non-banking financial companies (NBFCs)

Realty firm Shriram Properties on Wednesday reported a 5 per cent increase in its consolidated net profit to Rs 17.46 crore for the quarter ended June on higher income. Its net profit stood at Rs 16.62 crore in the year-ago period. Total income rose to Rs 210.90 crore in the April-June period of this fiscal from Rs 157.17 crore in the corresponding period of the previous year, according to a regulatory filing. The company also appointed Ravindra Kumar Pandey as Chief Financial Officer and elevated Rajesh Yashwant Shirwatkar as Deputy Chief Financial Officer. Shriram Properties reported sales volumes of 0.70 million square feet and sales values of Rs 376 crore during the first quarter of this fiscal year. Commenting on the performance, Murali M, CMD, Shriram Properties said, "Our strong market presence and success of our strategic initiatives give us confidence in maintaining growth and delivering on promises in the years to come." "Our solid project pipeline, a strong execution .

The retail AUM, which accounts for 72 per cent of the total AUM, increased by 43 per cent Y-o-Y to Rs 50,000 crore

Interestingly, this comes at a time when two-wheeler sales were seen increasing in new vehicles and the used vehicle category

The conglomerate announced last year it would enter ARC and wealth management businesses

Shriram Finance's earnings were boosted by higher commercial vehicle sales - which form its biggest financing segment, along with strength in farm equipment and small business credit segments

Realty firm Shriram Properties Ltd has elevated Gopalakrishnan J as executive director and Group Chief Executive Officer (CEO) of the company. He has been elevated from the current position as Executive Director (ED) and Group Chief Financial Officer (CFO) of the Bengaluru-based Shriram Properties. In a regulatory filing on Saturday, Shriram Properties Ltd informed that the Board of Directors at its meeting held on July 20, 2024, approved the appointment of Gopalakrishnan J as Executive Director and Group CEO effective July 20, 2024. The board also appointed K R Ramesh, who was Executive Director - Operations, as Executive Director Strategy & Corporate Development effective July 20, 2024. Gopalakrishnan joined the company in 2018 and has provided significant leadership in the ongoing transformation of the company, apart from his critical role in the IPO process and building a strong growth platform in recent years. He has more than 33 years of experience in the areas of corporate

Partners Group, Kedaara Capital-backed retailer becomes the fourth company to take this route

Shriram Finance share: With an m-cap of Rs 1.01 trillion, Shriram Finance stood at 96th position in the overall ranking on the BSE

The fund raise is closely on the heels of a previous transaction where the company raised $404 million

Realty firm Shriram Properties reported a 32 per cent increase in consolidated net profit to Rs 20.18 crore for the March quarter on higher income. Its net profit stood at Rs 15.25 crore in the year-ago period. Total income rose to Rs 358.37 crore in the fourth quarter of the last fiscal from Rs 170.98 crore in the March quarter of FY23, according to a regulatory filing on Wednesday. During the 2023-24 fiscal year, the net profit rose to Rs 75.43 crore from Rs 65.97 crore in the preceding year. Total income grew to Rs 987.35 crore in the last fiscal from Rs 813.93 crore in the 2022-23 financial year. Murali M, CMD of Bengaluru-based Shriram Properties, said, "Supported by our strong market presence and success of strategic initiatives, we are confident of sustaining growth and profitability in the coming years." "Our robust launch pipeline, strong execution platform coupled with continued focus on cost management and commitment to delivering quality will support towards this end,