Date: July 13, 2026

Operational Performance

Pre-Sales & Collections:

  • Pre-sales for Q1 FY27 stood at ₹1,439 crore, marking a 28% year-on-year (YoY) growth.
  • Collections surged 40% YoY to ₹1,199 crore.
  • Sales area for the quarter was 1.36 million square feet (msft), a 9% increase YoY.
  • Average price realization improved 18% YoY to ₹10,589 per square foot.
  • The company handed over 0.94 msft during the quarter, delivering 745 homes.

Strategic Actions

Asset Sale:

  • Entered into a definitive agreement with ICICI Prudential AMC for the sale of commercial property Purva Zentech.
  • The transaction values the asset at an enterprise value of ₹625.94 crore.
  • ₹145 crore will be received through the sale of shares of the SPV.
  • The balance consideration will be realized through agreed balance sheet adjustments in accordance with the transaction structure.

Business Development (Land Acquisitions):

  • Announced four land transactions in Q1 FY27 spanning approximately 41.93 acres.
  • Cumulative development potential: ~4.23 msft.
  • Total estimated Gross Development Value (GDV): ₹5,200 crore.

Project Details:

  • Sarjapura, Bengaluru: Joint development agreement for 6.4-acre land parcel; potential GDV over ₹1,000 crore; saleable area 0.8 msft.
  • Doddagubbi, North Bengaluru: Joint development agreement for 11.23 acre land parcel; potential GDV over ₹1,100 crore; saleable area 0.74 msft.
  • Sanna Ammanikere, North Bengaluru: Acquired 9.73-acre land parcel; GDV potential ~₹800 crore; saleable area 0.89 msft.
  • Mandur, Bengaluru: Secured 14.57-acre land parcel; GDV ₹2,300 crore; development potential 1.8 msft.

Outlook

  • The company reaffirmed its FY 2026–27 sales guidance of ₹11,200 crore across Southern and Western regions.
  • Management cited a stable interest rate environment (RBI repo rate steady at 5.25%) and steady office leasing demand from IT, BFSI, and GCC occupiers as supportive factors for residential absorption in the premium segment.

Company Background

  • Total completed projects: 95 projects totaling ~57 msft across nine cities (Bengaluru, Chennai, Hyderabad, Coimbatore, Mangaluru, Kochi, Mumbai, Pune, and Goa).
  • Total land bank: ~40 msft.
  • Ongoing projects: 36.69 msft.
  • Wholly-owned subsidiary: Starworth Infrastructure and Construction Limited (SICL) focuses on technology-enabled construction solutions.
  • Commercial real estate presence: ~3 msft.
  • Interior design arm: Purva Streaks.