The document is a regulatory filing containing the transcript of the Q1 FY27 Earnings Conference Call held on July 27, 2026, hosted by Go India Advisors.
The event was an earnings call to discuss the Un-Audited Financial Results for the quarter ended June 30, 2026.
Management participants included Mr. Rajendra Shah (Chief Financial Officer), Mr. Neeraj Kalawatia (Vice President - Finance), and Mr. B. Ravi (Corporate & Financial Advisor). Mr. Rajat Gupta from Go India Advisors moderated the call.
The transcript is available on the company's website at https://ganeshhousing.com/assets/pdf/financial-presentation/q127earningscalltranscript.pdf.
Financial Performance & Business Highlights
Q1 FY27 Financial Results: Revenue stood at ₹280 crore, representing 86% year-on-year growth and 130% sequential growth. EBITDA was ₹110 crore, PBT was ₹105 crore, and PAT was ₹42 crore. EBITDA and PBT grew 12% and 10% sequentially, respectively.
PAT Explanation: The lower PAT was attributed to a higher one-time tax burden on the sale of the One 91 Thaltej land, which resulted from an amalgamation in 2020, leading to a higher acquisition cost base for tax calculation.
FY27 Guidance: The company provided revenue guidance of ₹1,000-1,200 crore and PAT guidance of ₹300-325 crore for FY27. PAT growth is expected to be muted due to the one-time tax impact in Q1.
Project Updates:
Million Minds Tech City (Phase-I): Fit-out activities are progressing, with lease rentals expected to commence in Q4 FY27. Approximately 60% of the leasable area is under active discussion, with 43% (2.64 lakh sq. ft.) covered by executed Letters of Intent (LoIs) and an additional 15-20% under advanced negotiation. Demand is primarily from GCCs, technology companies, and managed co-working spaces.
Malabar Retreat: Construction is 83% complete, with 73 units (45% of total) booked, representing a sale value of ₹183 crore (45% of total). Timely completion is expected as per schedule.
One 91 Thaltej: The company completed a strategic monetization of this land asset instead of proceeding with development, citing favorable market conditions and capital optimization opportunities. Full payment has been realized, though specific financial details were not disclosed as the buyer is also a listed entity.
Land Bank: The company maintains a fully paid land reserve of approximately 510 acres, including the 411-acre Godhavi Township and the 65-acre Million Minds campus.
Future Launches: Phase-II of Million Minds (commercial) is planned for launch in Q3 FY27, and Phase-I of the residential component at Million Minds is planned for Q4 FY27.
Strategic Focus: The company's priorities include timely project execution, establishing a recurring annuity income platform through Million Minds, disciplined capital allocation, and selective land acquisitions in high-growth corridors.
Additional Notes Section
The document is a compliance submission to BSE Limited and the National Stock Exchange of India Ltd., enclosing the earnings call transcript as required.
The filing includes a digital signature from Jasmin Jani, Company Secretary & Compliance Officer, dated July 29, 2026.
The transcript includes a full Q&A session with analysts, covering details on revenue mix, GDV vs. cash flow reporting, the rationale behind the Thaltej land sale, and inquiries about the Godhavi land parcel.
