Company Overview

Grovy India Limited is a boutique luxury residential redevelopment company focused on South & Lutyens Delhi. Established in 1985, the company has 40+ years of experience, having delivered 150+ projects and satisfied 1500+ families. The company is listed on BSE.

Key Financial Performance (₹ in Lakhs)

Half-Year Ended September 30, 2026 (H1 FY27):

  • Revenue: ₹5,476.09 Lakh (Growth of 129.84% YoY from ₹2,382.53 Lakh in H1 FY26)
  • Profit After Tax (PAT): ₹391.93 Lakh (Surpassed full-year FY26 PAT of ₹289.81 Lakh)
  • Earnings Per Share (EPS): ₹2.67 (up 142.06% YoY from ₹1.10)

Quarter Ended September 30, 2026 (Q2 FY27):

  • Revenue: Not separately quantified but implied in H1 growth
  • Profit After Tax (PAT): ₹201.83 Lakh (up 6.16% QoQ from ₹190.11 Lakh in Q1 FY27, and up 436.42% YoY from ₹37.63 Lakh in Q2 FY26)
  • EBITDA: ₹316.09 Lakh (up 14.02% QoQ from ₹277.23 Lakh)

Balance Sheet (as of September 30, 2026):

  • Total Assets: ₹7,764.94 Lakh (up 5.86% from March 31, 2026, and up 56.18% YoY)
  • Total Borrowings: ₹259.01 Lakh (reduced by ₹2,237.18 Lakh from ₹2,496.19 Lakh on March 31, 2026)
  • Paid-up Equity Capital: ₹17.51 Crore (post-preferential issue)

Capital Raising & Corporate Actions

Preferential Allotment (Completed):

  • Date of Allotment: August 4, 2026
  • Shares Allotted: 41,69,433 Equity Shares
  • Issue Price: ₹36 per share
  • Total Funds Raised: ₹15,00,99,588 (₹15.01 Crore)
  • Allottees: Promoters and external investors
  • Purpose: Funds deployed to expand South Delhi residential development and deepen market presence. Backs ongoing projects.
  • Shareholder Approval: Obtained at the 41st Annual General Meeting (AGM) held on July 8, 2026.
  • This represents approximately 37.5% of the FY27 fund-raising target of ₹40 Crore.

Dividend:

  • A final dividend of ₹0.10 per share was approved by shareholders at the 41st AGM on July 8, 2026.

Shareholding Pattern (as of September 30, 2026)

  • Promoter & Promoter Group: 65.13%
  • Resident Individuals (nominal share capital in excess of ₹2 lakhs): 15.26%
  • Hindu Undivided Family (HUF): 10.80%
  • Bodies Corporate: 5.07%
  • Resident Individuals (nominal share capital up to ₹2 lakhs): 3.70%
  • Non Resident Indians (NRIs): 0.04%

Operational Highlights & Project Pipeline

Projects Under Execution:

  • Total Area: Approximately 1.83 lakh sq. ft.
  • Key Locations: Greater Kailash, Hauz Khas, Anand Niketan, Neeti Bagh, Defence Colony, Gulmohar Park.
  • Delivery Schedule: Starting from Q3 FY27 (October-December 2026) through Q1 FY29 (April-June 2029).

Project Status Table (Selected Ongoing):

| Location | Area (sq. ft.) | Status | Type | Delivery |

| Greater Kailash 2 | 15,000 | On Going | Residential | Q3 (26-27) |

| Anand Niketan | 17,000 | On Going | Residential | Q3 (26-27) |

| Greater Kailash 1 | 15,000 | On Going | Residential | Q4 (27-28) |

| Greater Kailash 1 | 20,000 | On Going | Residential | Q3 (27-28) |

| Hauz Khas | 15,000 | On Going | Residential | Q1 (27-28) |

| Neeti Bagh | 36,000 | On Going | Residential | Q3 (27-28) |

| Defence Colony | 15,000 | On Going | Residential | Q4 (27-28) |

| Gulmohar Park | 20,000 | On Going | Residential | Q3 (27-28) |

Pipeline Projects:

  • Safdarjung Enclave: 20,000 sq. ft. (Residential)
  • Anand Niketan: 30,000 sq. ft. (Residential)
  • Defence Colony: 15,000 sq. ft. (Residential)

Business Models

The company operates three primary business models:

1. Outright Model: Grovy purchases the entire property outright, constructs, and sells units.

2. Collaboration Model (JV): Joint venture where Grovy purchases a portion of the land in exchange for constructing the full property.

3. Turnkey Model: Client-appointed execution where Grovy designs and builds to client's specifications for a fee.

Strategic Positioning & Market Commentary

  • The company operates in the supply-constrained South Delhi market, which it estimates has a market value potential of ₹6 Lakh Crore (~USD 72 Billion).
  • The approval of Delhi Master Plan 2047 is cited as a supportive factor, specifically the reduction of the minimum plot size for group-housing redevelopment from 40,000 sq m to 3,000 sq m.
  • The company highlights a strategic collaboration with Golden Growth Fund (GGF), with three projects currently under construction.

Management Commentary (Chairman's Message)

Chairman PC Jalan stated that the company is well positioned to achieve a 2-3x increase in project development over the next few years. The fresh capital strengthens the balance sheet, and the company remains committed to creating long-term shareholder value through sustainable growth, strong governance, and prudent capital allocation.

Future Outlook & Guidance

  • Capital Raising: The balance of the ₹40 Cr FY27 target (~₹25 Cr) is being pursued subject to market conditions, project needs, and statutory approvals.
  • Scale: The company aims to scale execution towards 20–25 projects annually over the next three years, subject to market conditions.
  • NSE Listing: The company aims to list on the National Stock Exchange (NSE) over the next 3 years, subject to market conditions and regulatory approvals.

ESG Updates

  • Environment: Implementation of rainwater harvesting, water-efficient fixtures, sustainable construction practices, and energy-efficient designs.
  • Social: Focus on electrical safety standards, security protocols, chemical safety compliance, and safety signage.
  • Governance: Strong Board oversight, regulatory compliance, and ethical business conduct.

Media & Events

  • The company's 41st AGM was held on July 8, 2026.
  • Q1 FY27 results were announced on July 23, 2026.
  • The preferential issue was announced on August 6, 2026.
  • Director Ankur Jalan featured in media discussions (Zee Business, Property Plus) in August 2026 regarding the Delhi Master Plan 2047.
  • Director Ankur Jalan participated as a panellist at the ASSOCHAM Conference "Real Estate for Viksit Bharat" on September 8, 2026.