Performance Summary – Q2 FY27

Operational Metrics (YoY Comparison)

  • Bookings: ₹906 Cr (vs. ₹432 Cr previous year) - 110% increase
  • Collections: ₹418 Cr (vs. ₹236 Cr previous year) - 77% increase
  • Net Operating Cash Flows: ₹152 Cr (88% QoQ increase, 22% YoY increase)

Financial Results (YoY Comparison)

  • Revenue from operations: ₹157 Cr (vs. ₹141 Cr previous year)
  • Adjusted EBITDA: ₹45 Cr (vs. ₹31 Cr previous year)
  • Profit After Tax (PAT): ₹23 Cr (vs. ₹18 Cr previous year)

Balance Sheet Metrics

  • Net Debt (interest-bearing funds) to Equity ratio: 0.26x as on September 30, 2026 (vs. 0.29x as on June 30, 2026)

Project Launch Performance

  • Arvind Sylva (Sarjapur Road, Bengaluru): Launched August 2026, achieved sales bookings of ₹500 crore representing ~60% of total inventory within 30 days of launch
  • Arvind Iconia (Vastrapur, Ahmedabad): Launched end of Q2 FY27, achieved sales bookings of ₹81 crore representing ~21% of total inventory

H1 FY27 Performance

  • Bookings: ₹1338 crore (120% YoY growth)
  • Collections: ₹754 crore (77% YoY growth)

Business Development Highlights

  • September 2026: Entered joint development agreement for residential high-rise project in Sarjapur Road, Bengaluru
  • Estimated revenue potential: ₹470 crore
  • Saleable area: 3.60 lakh sq.ft.
  • FY27 new business development total top-line potential: ₹3,100 crore (including last quarter's additions)

Management Commentary & Guidance

Mr. Priyansh Kapoor, Managing Director & CEO, commented on the performance:

Revised Guidance

  • FY27 bookings growth guidance revised upward from 35-40% (₹2100-2200 crore) to 70-75% YoY growth (₹2600-2700 crore)
  • Business development GDV addition guidance: ₹4000-5000 crore (confident of achieving upper end)
  • EBITDA margin guidance reiterated: 22-25% range

Strategic Direction

  • Focus on three-city strategy with deep focus on execution and customer centricity
  • Priority on converting strong pipeline into launches and deliveries
  • Commitment to prudent capital management and uncompromising governance

Company Background

  • Established: 2008
  • Parent: Lalbhai Group (128+ years legacy)
  • Development portfolio: ~100.4 million square feet across India
  • Geographic presence: Ahmedabad, Gandhinagar, Baroda, Bengaluru, MMR, and Pune