Company is in the business of development and sale of real estate. Projects in metro cities like Bengaluru, Hyderabad, Chennai, Kolkata, Mumbai, Pune and Goa. Presenting below are its Q1 FY26 earnings results.
Q1 FY26 Earnings Results
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Total Revenue: ₹524 crore, down 20.3% year-over-year (YoY) from ₹675.6 crore in Q1 FY25.
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Net Profit (PAT): Loss of ₹68.55 crore, compared to a profit of ₹14.78 crore in Q1 FY25; loss widened sharply due to lower handovers, regulatory delays, and increased operational costs.
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EBITDA / Operating Profit: ₹70.78 crore, 13.1% margin, down from prior year.
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Pre-Sales: ₹1,124 crore, up 6% YoY (Q1 FY25: ₹1,064 crore), reflecting sustained customer interest and robust sales pipeline despite no new launches this quarter.
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Sales Volume: 1.25 million sq.ft., slightly lower than 1.29 million sq.ft. YoY, but offset by higher prices.
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Average Price Realisation: ₹8,988/sq.ft., up 9% YoY (Q1 FY25: ₹8,246/sq.ft.) driven by healthy demand for premium inventory.
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Customer Collections: ₹857 crore, indicating solid cash flow and continued confidence from homebuyers.
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EPS: Negative ₹2.90 (YOY: ₹0.60).
Key Management Commentary & Strategic Highlights
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Ashish Puravankara (MD): The Golden Jubilee Year marks a milestone, and management remains confident in market resilience despite regulatory handover delays (e-Khata, byelaws). Sustenance sales and solid collections reflect buyer trust and stable demand for upgraded offerings.
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Strategic Initiatives: Major redevelopment push in Mumbai (8 societies in Chembur, GDV potential ₹2,100 crore) and joint development in East Bengaluru (₹1,000 crore GDV potential) set the stage for future launches and value creation.
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Revenue Recognition and Regulatory Changes: Delays in e-Khata issuance and byelaw modifications slowed handovers and revenue recognition in the quarter, impacting reported profit; team expects handover momentum to normalize in FY26.
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Pipeline & Surplus: Ready-to-handover and pipeline projects carry an estimated surplus of over ₹15,427 crore, supporting future profitability and growth initiatives.
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Debt & Expense Control: Debt-equity ratio elevated (2.5x), highlighting increased reliance on borrowing amid regulatory and construction delays.
Q4 FY25 Earnings Results
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Total Income: ₹946.8 crore (higher QoQ base)
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PAT: Loss of ₹6.71 crore (improved sequentially but worsened YoY)
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EPS: Negative ₹0.30.
Operational Trends & Outlook
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Handovers: 667 units (0.68 million sq.ft.) delivered, awaiting e-Khata for full possession to boost future revenue realization.
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Commercial Project Completions: On track to deliver 2.2 million sq.ft. in FY26.
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Market Strategy: Expansion into Mumbai and Bengaluru micro-markets, leveraging redevelopment and joint developments for multi-year pipeline growth.
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Outlook: Management anticipates launch momentum to return as regulatory bottlenecks clear, targeting key micro-markets and premium segments.
To view the company’s previous earnings and latest concall transcripts, click here to visit the Alphastreet India news channel.