Financial Results (Consolidated)

Q2 FY27 Performance:

  • Total Revenues: ₹145 crore
  • EBITDA: ₹61 crore
  • Profit After Tax (PAT): ₹45 crore

H1 FY27 Performance:

  • Total Revenues: ₹362 crore
  • EBITDA: ₹127 crore
  • Profit After Tax (PAT): ₹98 crore

Operational Highlights

Pre-sales Performance (Q2 FY27):

  • Existing Portfolio Area Sold: 0.71 Lakh Sq.Ft.
  • Merged Portfolio Area Sold: 0.94 Lakh Sq.Ft.
  • Existing Portfolio Booking Value (registered): ₹154 crore
  • Merged Portfolio Booking Value (registered): ₹251 crore
  • Collections: ₹127 crore (Existing Portfolio), ₹202 crore (Merged Portfolio)

H1 FY27 Performance:

  • Existing Portfolio Area Sold: 1.09 Lakh Sq.Ft.
  • Merged Portfolio Area Sold: 1.40 Lakh Sq.Ft.
  • Existing Portfolio Booking Value (registered): ₹240 crore
  • Merged Portfolio Booking Value (registered): ₹359 crore
  • Collections: ₹244 crore (Existing Portfolio), ₹348 crore (Merged Portfolio)

Business Segment Performance

Residential Business:

  • Pre-sales grew 70% quarter-on-quarter
  • Affordable and mid-income portfolio grew 155% QoQ
  • Monte South premium development in Byculla grew 16% QoQ

Commercial Business:

  • Strong demand for Grade-A office space in Mumbai
  • Marathon Futurex in Lower Parel secured 45,000 sq. ft. expansion by a leading financial services group
  • Marathon Millennium in Mulund contributes to portfolio diversification

Project Development

Construction progress is on schedule across:

  • Monte South
  • Nexzone
  • NeoHomes
  • Marathon Millennium

Expansion Activities

Added two redevelopment projects:

  • Location: Versova and Sewri
  • Combined estimated GDV: ₹900 crore
  • Strategy: Selective approach to well-connected Mumbai micro-markets

Capital Structure

  • Net debt-free balance sheet
  • Positive net cash position

Management Commentary

Mr. Chetan Shah, Chairman & Managing Director, stated:

  • Q2 FY27 was a quarter of healthy growth
  • Demand is broad-based across price segments
  • Proposed amalgamation (subject to approvals) expected to expand pipeline and strengthen MMR presence
  • Focus remains on timely delivery, disciplined capital allocation, and unlocking value from land bank

Corporate Background

  • Company founded in 1969 by Ramniklal Zaverbhai Shah
  • Over 57 years in real estate development
  • Completed over 100 projects in Mumbai
  • Portfolio includes townships, affordable housing, luxury residential, retail, small business spaces, and corporate parks
  • Ongoing projects at Lower Parel, Byculla, Mulund
  • Land banks at Bhandup, Thane, Dombivli and Panvel

Leadership Team

  • Chairman & Managing Director: Mr. Chetan Shah (US educated engineer)
  • Vice-Chairman: Mr. Mayur Shah (US educated engineer)
  • Third generation project heads: Mr. Kaivalya Shah, Mr. Parmeet Shah, and Mr. Samyag Shah (all US educated)

Investor Relations Contacts

Company Representatives:

  • Mr. Avinash Tanawade, Investor Relations

IR Advisors:

  • Strategic Growth Advisors Pvt. Ltd.
  • Mr. Rahul Agarwal / Mr. Aseem Kohli