Financial Performance - Q2 FY27

  • Revenue from Operations: ₹1,447 million, down 45.1% YoY from ₹2,637 million in Q2 FY26
  • EBITDA: ₹345 million with margins of 23.84% (23.97% in Q2 FY26)
  • PAT: ₹248 million with margins of 17.14% (17.37% in Q2 FY26)
  • Total Comprehensive Income: ₹250 million, down 45.3% YoY
  • Diluted EPS: ₹1.35 per share, down from ₹2.47 in Q2 FY26
  • Collections grew 22% YoY to ₹1,830 million
  • Pre-sales stood at ₹1,510 million

Financial Performance - H1 FY27

  • Revenue from Operations: ₹2,916 million, down 31.1% YoY from ₹4,231 million in H1 FY26
  • EBITDA: ₹623 million with margins of 21.36% (23.04% in H1 FY26)
  • PAT: ₹439 million with margins of 15.05% (17.63% in H1 FY26)
  • Total Comprehensive Income: ₹441 million, down 40.8% YoY
  • Diluted EPS: ₹2.38 per share, down from ₹4.02 in H1 FY26
  • H1 FY27 collections reached ₹3,470 million, up 8% YoY
  • H1 FY27 pre-sales stood at ₹3,060 million

Operational Highlights

  • Gross margins improved to 35% during Q2 FY27
  • Maintained net debt-free position with liquid cash of ₹1,190 million against gross debt of ₹560 million
  • Net liquid cash position of ₹630 million as of September 30, 2026
  • Strong development pipeline of ₹190 billion GDV across approximately 5.7 million sq. ft. of saleable carpet area
  • Two project launches targeted for Q3 FY27 with combined GDV of ₹28 billion
  • Advanced strategic land acquisitions across key micro-markets in Mumbai Metropolitan Region
  • Over 2 million sq. ft. under development supporting execution and delivery commitments

Company Overview

  • Leading Mumbai-focused real estate developer with nearly four decades of experience
  • Specializes in premium residential developments across Mumbai Metropolitan Region
  • Balanced portfolio of redevelopment and greenfield projects
  • Fully integrated in-house development platform
  • Successfully delivered 5.8+ million sq. ft. of development for 5,800+ families across 33 projects
  • 9 ongoing projects with GDV of ₹26 billion and 15 upcoming projects with GDV of ₹191.6 billion
  • ISO-9001-2015 and ISO-45001-2018 certified
  • IND-RA BBB+ issuer rating

Project Portfolio Details

Ongoing Projects (9 projects):

  • Total GDV: ₹25,670 million across 1,154 units and 888,154 sq. ft. saleable area
  • Projects include Arkade Eden (Malad W), Arkade Pearl I & II (Vile Parle E), Arkade Nest (Mulund W), Arkade Vistas (Goregaon E), Arkade Views (Goregaon E), Arkade Rare (Bhandup W), Arkade Evoke (Goregaon W), Arkade Sapphire (Santacruz W)
  • Completion status ranges from 7% to 100% (OC Received)

Upcoming Projects Portfolio (15 projects):

  • Total GDV: ₹191,600 million across approximately 5.7 million sq. ft. saleable carpet area
  • Key projects include Arkade Ascend (Malad West, ₹8.3B GDV), Thane project (₹20B GDV), Filmistan (Goregaon West, ₹40B GDV), Woollen Mills (Bhandup, ₹18B GDV), Yogi Nagar (Borivali West, ₹30B GDV)
  • Expected launch timeline ranges from Q3 FY27 to undecided

Strategic Land Acquisitions

  • Acquired Filmistan Pvt Ltd, 4-acre land parcel in Goregaon with projected GDV of ₹3,500 crore
  • Entry to Thane with projected GDV of ₹1,900 crore
  • MOU signed for land at Bhandup, 3.5 acre with projected GDV of ₹1,000 crore

Management Commentary

Chairman & MD Amit Mangilal Jain stated: "The Company delivered a healthy performance during Q2 FY27, supported by improved gross margins and strong growth in collections. While pre-sales remained moderate amid evolving market dynamics, we remain focused on strengthening customer confidence and driving sustainable business growth. We remain committed to disciplined financial management, quality development and timely project execution."

Capital Structure

  • Equity Share Capital: ₹1,857 million
  • Market Price: ₹119.50 (as of September 2026)
  • 52 Week H/L: ₹179.25/93.95
  • Market Cap: ₹22,186.8 million
  • Equity Shares Outstanding: 185.66 million

Historical Financial Performance

  • FY24: Revenue ₹6,347 million, PAT ₹1,229 million
  • FY25: Revenue ₹6,831 million, PAT ₹1,569 million
  • FY26: Revenue ₹8,164 million, PAT ₹53 million (impacted by exceptional items of ₹1,822 million)
  • H1-FY27: Revenue ₹2,916 million, PAT ₹439 million

Balance Sheet Position (H1-FY27)

  • Total Assets: ₹11,732 million
  • Inventories: ₹9,017 million
  • Cash & Cash Equivalents: ₹82 million
  • Other Bank Balance: ₹19 million
  • Investments: ₹1,086 million
  • Total Equity: ₹9,268 million
  • Total Liabilities: ₹2,464 million

Historical Cash Flows

  • H1-FY27 Net Collections: ₹3,466 million
  • H1-FY27 Construction Cost: ₹1,405 million
  • H1-FY27 Land/Acquisition/TDR/Approval Cashflow: ₹623 million

Board of Directors

  • Mr. Amit Mangilal Jain - Chairman and MD
  • Mr. Sandeep Jain - Whole-time Director
  • Mr. Arpit Jain - Whole-time Director
  • Mr. Sumesh Mishra - Independent Director
  • Mrs. Neha Huddar - Independent Director
  • Mr. Abhishek Dev - Independent Director

Awards and Recognitions

  • Project of the Year Award - Arkade Earth
  • Industry Achievement Award Real Estate - Arkade Developers
  • Iconic Residential Developer
  • Iconic Luxury Residential Project of the Year - Arkade Aura
  • Best Integrated Marketing Campaign Realty+ India Brand Leadership Conclave Award 2026
  • Young Entrepreneur of the Year - Amit Jain