Board Meeting Details

The Board of Directors meeting was held on October 29, 2026, commencing at 3:34 PM and concluding at 4:19 PM. The meeting approved and took on record the unaudited financial results (both standalone and consolidated) for the quarter and half year ended September 30, 2026.

Financial Results - Consolidated

Income Statement (₹ in millions)

Quarter Ended September 30, 2026:

  • Revenue from operations: ₹2,149.87 (vs. ₹1,655.27 in Q2 FY26)
  • Other income: ₹373.11 (vs. ₹102.66 in Q2 FY26)
  • Total income: ₹2,522.98 (vs. ₹1,757.93 in Q2 FY26)
  • Total expenses: ₹2,422.95 (vs. ₹2,487.95 in Q2 FY26)
  • Profit before tax: ₹112.03 (vs. loss of ₹730.02 in Q2 FY26)
  • Tax expense: ₹(27.31) (vs. ₹30.48 in Q2 FY26)
  • Profit after tax: ₹139.34 (vs. loss of ₹760.50 in Q2 FY26)
  • Total comprehensive income: ₹141.02 (vs. loss of ₹742.58 in Q2 FY26)
  • Profit attributable to owners: ₹153.37 (vs. loss of ₹739.93 in Q2 FY26)

Half Year Ended September 30, 2026:

  • Revenue from operations: ₹4,155.33 (vs. ₹3,284.68 in H1 FY26)
  • Other income: ₹773.00 (vs. ₹201.58 in H1 FY26)
  • Total income: ₹4,928.33 (vs. ₹3,486.26 in H1 FY26)
  • Total expenses: ₹4,897.38 (vs. ₹4,853.74 in H1 FY26)
  • Profit before tax: ₹42.95 (vs. loss of ₹1,367.48 in H1 FY26)
  • Tax expense: ₹19.88 (vs. ₹48.00 in H1 FY26)
  • Profit after tax: ₹23.07 (vs. loss of ₹1,415.48 in H1 FY26)
  • Total comprehensive income: ₹21.53 (vs. loss of ₹1,412.49 in H1 FY26)
  • Profit attributable to owners: ₹50.15 (vs. loss of ₹1,383.07 in H1 FY26)

Key Metrics

  • Earnings per share (basic): ₹0.06 for Q2 FY26 (vs. loss of ₹0.48 in Q2 FY26)
  • Earnings per share (basic): ₹0.02 for H1 FY26 (vs. loss of ₹1.26 in H1 FY26)
  • Paid-up equity share capital: ₹28,829.03 million (face value ₹10 per share)

Financial Results - Standalone

Income Statement (₹ in millions)

Quarter Ended September 30, 2026:

  • Revenue from operations: ₹496.93 (vs. ₹285.58 in Q2 FY26)
  • Other income: ₹720.13 (vs. ₹307.03 in Q2 FY26)
  • Total income: ₹1,217.06 (vs. ₹592.61 in Q2 FY26)
  • Total expenses: ₹443.82 (vs. ₹582.37 in Q2 FY26)
  • Profit before tax: ₹773.24 (vs. ₹10.24 in Q2 FY26)
  • Profit after tax: ₹773.24 (vs. ₹10.24 in Q2 FY26)
  • Total comprehensive income: ₹772.81 (vs. ₹28.90 in Q2 FY26)

Half Year Ended September 30, 2026:

  • Revenue from operations: ₹917.45 (vs. ₹598.81 in H1 FY26)
  • Other income: ₹1,491.04 (vs. ₹485.94 in H1 FY26)
  • Total income: ₹2,408.49 (vs. ₹1,084.75 in H1 FY26)
  • Total expenses: ₹1,000.42 (vs. ₹1,190.29 in H1 FY26)
  • Profit before tax: ₹1,408.07 (vs. loss of ₹105.54 in H1 FY26)
  • Profit after tax: ₹1,408.07 (vs. loss of ₹105.54 in H1 FY26)
  • Total comprehensive income: ₹1,407.00 (vs. loss of ₹101.41 in H1 FY26)

Key Metrics

  • Earnings per share (basic): ₹0.29 for Q2 FY26 (vs. ₹0.01 in Q2 FY26)
  • Earnings per share (basic): ₹0.55 for H1 FY26 (vs. loss of ₹0.10 in H1 FY26)
  • Paid-up equity share capital: ₹28,829.03 million (face value ₹10 per share)

IPO Completion and Utilization

During the quarter ended September 30, 2026, the company completed its Initial Public Offer (IPO) of 433,376,374 equity shares of face value ₹10 each:

  • 432,859,874 equity shares issued at ₹60.00 per share (including securities premium of ₹50.00 per share)
  • 516,500 shares issued to employees at ₹55.00 per share (including securities premium of ₹45.00 per share)
  • Total issued and subscribed equity shares: ₹26,000.00 million
  • Equity shares listed on NSE and BSE on August 24, 2026

IPO Proceeds Utilization (₹ in millions):

  • Amount to be utilized as per prospectus: ₹26,000.00
  • Utilized up to September 2026: ₹22,500.00
  • Unutilized as at September 2026: ₹3,500.00

Breakdown of utilization:

1. Repayment/prepayment of borrowings: ₹22,500.00 (fully utilized)

2. Share issue expenses: ₹1,081.20 (₹335.91 million paid from internal accruals, balance unutilized)

3. General corporate purposes: ₹2,418.80 (₹60.40 million paid from internal accruals, balance unutilized)

Unutilized balance kept in fixed deposits, escrow/monitoring account.

Joint Venture Acquisition

During the quarter, the company acquired 49.00% equity stake in Vision Softech Facilities Private Limited for ₹201.90 million. Based on control assessment, this investment is accounted as a joint venture under equity method per Ind AS 28.

The joint venture contributed ₹12.00 million share of profit after tax and total comprehensive income for the period from July 10, 2026 to September 30, 2026.

Subsidiaries and Joint Venture

The consolidated results include 53 subsidiaries and 1 joint venture (Vision Softech Private Limited, effective July 10, 2026). The complete list of subsidiaries is provided in Annexure 1 of the document.

Business Segment Information

The company's sole business segment is leasing of industrial and logistic spaces. The company operates only in India, with no reportable segments as required under IND AS 108.

Operational Highlights (from Press Release)

  • Revenue grew 30% YoY to ₹2,150 million in Q2 FY27
  • EBITDA increased 34% YoY to ₹1,735 million with 81% EBITDA margins
  • Executed 2.5 million square feet of leases in Q2, with H1 leasing reaching 4.4 million square feet
  • Stabilized portfolio occupancy remained strong at 94%
  • Delivered 6 buildings across 4 markets spanning 1.8 million square feet in Q2
  • Total development completions of 2.7 million square feet in H1
  • Net debt reduced to ₹27,651 million with 15% Net Debt to EV post-IPO deleveraging
  • Added 8 new customers in Q2, with customer base now at 130 unique customers

Additional Materials

The company has released a press release and investor presentation detailing financial and operating performance, available on the company's website at www.hiparks.com.