Key Financial Performance (Q1 FY27 vs. Q1 FY26)

  • Revenue from Operations: ₹2,005 million, a 23% year-on-year (YoY) increase from ₹1,629 million.
  • Asset EBITDA: ₹1,844 million, a 23% YoY increase from ₹1,496 million. Asset EBITDA Margin remained stable at 92%.
  • Corporate EBITDA: ₹1,610 million, a 36% YoY increase from ₹1,188 million. Corporate EBITDA Margin improved to 80% from 73%.
  • Other Income: ₹400 million, significantly higher than ₹99 million in the prior year.
  • Finance Cost: ₹1,313 million, slightly lower than ₹1,353 million.
  • Depreciation: ₹765 million, increased from ₹571 million.
  • Tax: ₹47 million, increased from ₹18 million.
  • Reported Net Loss: ₹116 million, an improvement from a net loss of ₹655 million in Q1 FY26.
  • Cash Profit: ₹649 million, a significant improvement from a cash loss of ₹84 million.
  • Proforma Cash PAT: ₹1,160 million, calculated as Cash Profit (₹649M) plus Potential Interest Savings from Debt Repayment (₹511M). This compares to a cash loss of ₹84 million in the prior year.

Capital Raising and Balance Sheet Update

  • Successfully completed a primary fund raise totaling ₹42,500 million. This includes a pre-IPO round of ₹16,500 million concluded in December 2025 and the subsequent IPO.
  • Completed post-IPO deleveraging, reducing Net Debt to ₹25 billion.
  • Resulting Loan-to-Value (LTV) ratio stands at 12.5%.
  • The company expects a positive impact on its credit rating and a resultant reduction in interest cost.

Operational and Business Highlights

  • Leasing Activity: Signed 1.9 million square feet (msf) of leases during the quarter and added 9 new customers.
  • Development Activity: Delivered nearly 1 msf of new developments in Q1. Significant progress was made at the 0.3 msf Pimpri (Pune) site, which is targeting delivery in March 2027.
  • Full-Year Guidance: The company is on track to achieve over 6.5 msf of leasing and 6 msf of development throughput in FY27.
  • Platform Scale: The network comprises approximately 61 msf across 46 assets in 10 cities, including ~30 msf of operational assets and a ~2,300-acre land bank. This includes a 7 msf in-city platform across 17 sites in metros.
  • Customer Base: Serves more than 120 customers across sectors including e-commerce, 3PL, FMCG, renewable energy, automotive, data centers, semiconductors, aerospace, and defense.

Management Commentary

Urvish Rambhia, Chief Executive Officer, stated that the performance reflects continued strength of occupier demand across India's industrial and logistics sector. He emphasized the company's focus on scaling the platform, deepening customer relationships, and creating long-term value for all stakeholders.

Sustainability Initiatives

  • On-site Solar: 38 MW capacity installed or under-installation.
  • EV Charging: Over 150 EV chargers with 1 MW capacity.
  • Battery Energy Storage System (BESS): Pilot installation underway in Pune.
  • Open Access: 15 MW of third-party open access projects underway.

Board of Directors and Leadership

The presentation lists the Board of Directors, comprising Anshu Prakash, Asheesh Mohta, Michael Holland, Alok Jain, Sangeeta Singh, and Urvish Rambhia. It also details the senior leadership team, noting they have a collective industry experience of over 250 years and the core team has been with the platform since inception.

Investor Relations

The investor presentation is available on the company's website (www.hiparks.com). For further information, contact investor.relations@hiparks.com.