Pranav Constructions Q1 FY27 Net Profit Up 45.5%

Date: 02/10/2026

KMP / Board / Auditor Changes

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Dividend Declaration or Non-Declaration

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Board Meeting Outcomes

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Financial Results (Standalone & Consolidated)

Q1 FY27 Consolidated Performance (YoY Comparison)

Revenue from Operations: ₹1,645 Mn (Q1 FY26: ₹1,422 Mn), +15.7% YoY
Operating expenses: ₹1,352 Mn (Q1 FY26: ₹1,214 Mn), +11.4% YoY
EBITDA: ₹293 Mn (Q1 FY26: ₹208 Mn), +40.9% YoY
EBITDA Margin: 17.81% (Q1 FY26: 14.63%), +318 bps YoY
Finance costs: ₹102 Mn (Q1 FY26: ₹77 Mn), +32.5% YoY
Depreciation and amortization expense: ₹10 Mn (Q1 FY26: ₹8 Mn), +25.0% YoY
Other income: ₹4 Mn (Q1 FY26: ₹6 Mn), -33.3% YoY
Profit before tax: ₹185 Mn (Q1 FY26: ₹129 Mn), +43.4% YoY
Tax: ₹41 Mn (Q1 FY26: ₹30 Mn), +36.7% YoY
Profit after tax: ₹144 Mn (Q1 FY26: ₹99 Mn), +45.5% YoY
PAT Margin: 8.75% (Q1 FY26: 6.96%), +179 bps YoY
Other comprehensive income for the period: ₹0 Mn (Q1 FY26: -₹2 Mn)
Total Comprehensive Income: ₹144 Mn (Q1 FY26: ₹97 Mn), +48.5% YoY
Diluted earnings per share (INR): ₹1.65 (Q1 FY26: ₹1.13), +46.0% YoY

Historical Consolidated Performance (FY24-FY26 + Q1-FY27)

| Particulars (INR Mn) | FY24 | FY25 | FY26 | Q1-FY27 |

| Revenue from Operations | 4,475 | 6,363 | 7,616 | 1,645 |

| Operating expenses | 3,900 | 5,397 | 6,331 | 1,352 |

| EBITDA | 575 | 966 | 1,285 | 293 |

| EBITDA Margin (%) | 12.85% | 15.18% | 16.87% | 17.81% |

| Finance costs | 180 | 233 | 327 | 102 |

| Depreciation and amortization expense | 27 | 32 | 42 | 10 |

| Other income | 23 | 20 | 23 | 4 |

| Profit before tax | 391 | 721 | 939 | 185 |

| Tax | -5 | 98 | 226 | 41 |

| Profit after tax | 396 | 623 | 713 | 144 |

| PAT Margin (%) | 8.85% | 9.79% | 9.36% | 8.75% |

| Other comprehensive income for the period | - | - | -2 | - |

| Total Comprehensive Income | 396 | 623 | 711 | 144 |

| Diluted earnings per share (INR) | 4.66 | 7.22 | 8.18 | 1.65 |

Historical Consolidated Balance Sheet (INR Mn)

| Assets | FY24 | FY25 | FY26 | Liabilities & Equity | FY24 | FY25 | FY26 |

| Non-current assets | 109 | 149 | 179 | Equity | 884 | 1,756 | 2,467 |

| Property, Plant and Equipment | 25 | 44 | 51 | Equity share capital | 37 | 872 | 872 |

| Right-of-use assets | 46 | 46 | 68 | Other equity | 847 | 884 | 1,595 |

| Other intangible assets | 2 | 1 | 1 | Non-current liabilities | 51 | 60 | 107 |

| Financial assets | 1 | 2 | 3 | Borrowings | 14 | 20 | 50 |

| Other financial assets | 13 | 40 | 40 | Lease liabilities | 37 | 36 | 53 |

| Deferred tax assets (net) | - | 7 | 10 | Provisions | - | 4 | 4 |

| Non-current tax assets (net) | 22 | 2 | 2 | Current liabilities | 8,734 | 10,646 | 15,417 |

| Other non-current assets | - | 7 | 4 | Borrowings | 980 | 1,945 | 2,534 |

| Current assets | 9,560 | 12,313 | 17,812 | Lease liabilities | 12 | 15 | 19 |

| Inventories | 968 | 933 | 1,438 | Trade payables | 1,359 | 1,667 | 3,370 |

| Financial assets | | | | Other financial liabilities | 75 | 68 | 61 |

| - Investments | 52 | 12 | 29 | Other current liabilities | 6,306 | 6,870 | 9,233 |

| - Trade receivables | 753 | 607 | 625 | Provisions | 2 | 2 | 12 |

| - Cash and cash equivalents | 395 | 402 | 179 | Current tax liabilities (net) | - | 79 | 188 |

| - Loans | 1 | - | - | Total Liabilities | 8,785 | 10,706 | 15,524 |

| - Other financial assets | 95 | 115 | 127 | | | | |

| Other current assets | 7,296 | 10,244 | 15,414 | | | | |

| Total Assets | 9,669 | 12,462 | 17,991 | Total Equity & Liabilities | 9,669 | 12,462 | 17,991 |

Historical Consolidated Cash Flow Statement (INR Mn)

| Particulars | FY24 | FY25 | FY26 |

| Profit before tax | 391 | 721 | 939 |

| Adjustments | 1,287 | 2,061 | 2,451 |

| Operating profit before working capital change | 1,678 | 2,782 | 3,390 |

| Changes in working capital | (1,522) | (3,701) | (3,681) |

| Cash generated from/(used in) operating activities | 156 | (920) | (291) |

| Income taxes paid (Net) | (101) | (6) | (122) |

| Net cash from operating activities (A) | 55 | (926) | (413) |

| Cash flows from investing activities (B) | 198 | (8) | (53) |

| Cash flows from financing activities (C) | 6 | 942 | 246 |

| Net increase/(decrease) in CCE (A+B+C) | 258 | 8 | (220) |

| CCE at beginning of year | 130 | 389 | 397 |

| CCE at end of year | 389 | 397 | 177 |

Disinvestment / Strategic Actions

Not Specified

Operational Highlights Q1 FY27

Achieved ~92% pre-sales across saleable inventory of ongoing projects
Pre-sales: ₹897 Mn (Q1 FY26: ₹1,095 Mn)
Pre-sales area: 22,697 sq. ft. (Q1 FY26: 29,446 sq. ft.)
Average realization: ₹39,521 per sq. ft. (Q1 FY26: ₹37,187 per sq. ft.), +6.3% YoY
Collections: ₹938 Mn (Q1 FY26: ₹743 Mn), +26% YoY
Added 2 new redevelopment projects: Shantikunj CHSL, Sion and Santosh Bungalow, Kandivali with total developable area of 0.14 Mn sq. ft.
Launched new project in Santacruz (West) with developable area of 82,593 sq. ft.
Completed Lakshman Tower CHSL, Borivali (West) and received Occupation Certificate (OC)
5 project launches planned for balance FY27 (Jul 2026-Mar 2027)

Company Overview

Pure play redevelopment specialist with proven track record of timely completion
Strong execution capabilities and trusted brand in Western Suburbs
Market position: #1 highest combined supply in MCGM Redevelopment projects launched between CY21-Q1 CY26
34 MCGM Redevelopment projects contributing 11% market share in Malad micro-market
#2 highest supply in MCGM Redevelopment projects launched between CY17-Q1 CY26
37 MCGM Redevelopment projects contributing 30% of redeveloped units supplied by top 5 developers in MCGM Region
9% market share in Santacruz micro-market

Business Strategy

Asset-light model focusing on redevelopment (62% of total U/C supply in MCGM from CY17-Q1 CY26)
Reduces upfront land acquisition costs and interest costs
Accelerates project cycles, enhancing investor IRR
Brand enhancement through digital marketing, sports/cultural events sponsorship, real estate exhibitions
Tech upgrades: advanced construction tech, building information modelling, ERP system, data analytics
Environmental focus: e-waste recycling, green building certifications planned

Project Portfolio (as on June 30, 2026)

Completed Redevelopment Projects (29 projects, 1,430 units, 14.74 L sq. ft.)

| Malad | 14 | 7,61,203 | 751 |

| Borivali | 8 | 5,13,147 | 457 |

| Kandivali | 1 | 52,136 | 58 |

| Goregaon | 6 | 1,47,741 | 164 |

| Grand Total | 29 | 14,74,227 | 1,430 |

Under-construction Redevelopment Projects (20 projects, ₹16,573.4 Mn GDV)

| Andheri | 2 | 1,48,844 | 41,714 | 1,480.2 |

| Bandra | 2 | 1,48,595 | 35,587 | 1,708.6 |

| Borivali | 1 | 42,432 | 14,366 | 346.9 |

| Goregaon | 1 | 69,250 | 28,768 | 648.8 |

| Kandivali | 1 | 64,424 | 21,375 | 500.0 |

| Mahim | 1 | 93,524 | 20,435 | 988.9 |

| Malad | 4 | 4,65,254 | 1,37,499 | 3,570.0 |

| Santacruz | 6 | 5,23,944 | 1,65,660 | 6,220.5 |

| Vile Parle | 2 | 1,02,263 | 31,600 | 1,109.5 |

| Grand Total | 20 | 16,58,530 | 4,97,004 | 16,573.4 |

Upcoming Redevelopment Projects Pipeline

Balance FY27 (Jul 2026-Mar 2027) - 5 projects, ₹7,139.4 Mn GDV

| Andheri | 1 | 62,844 | 23,577 | 778.0 |

| Chembur | 1 | 47,067 | 15,817 | 553.6 |

| Goregaon | 2 | 5,96,631 | 1,70,047 | 5,049.8 |

| Santacruz | 1 | 76,853 | 15,791 | 758.0 |

| Sub-total | 5 | 7,83,395 | 2,25,232 | 7,139.4 |

FY28 (Apr 2027-Mar 2028) - 13 projects, ₹14,129.3 Mn GDV

| Andheri | 3 | 3,59,410 | 1,40,751 | 5,432.4 |

| Grant Road | 1 | 2,32,839 | 22,485 | 1,911.2 |

| Kandivali | 2 | 1,27,641 | 48,115 | 1,154.8 |

| Khar | 1 | 25,999 | 8,172 | 347.3 |

| Malad | 1 | 1,14,655 | 34,070 | 902.9 |

| Matunga | 1 | 50,745 | 14,358 | 574.3 |

| Santacruz | 1 | 68,849 | 17,032 | 885.7 |

| Sion | 2 | 2,27,230 | 63,180 | 2,661.6 |

| Vile Parle | 1 | 23,306 | 6,477 | 259.1 |

| Sub-total | 13 | 12,30,674 | 3,54,640 | 14,129.3 |

| Grand Total | 18 | 20,14,069 | 5,79,872 | 21,268.7 |

Management Team

Pranav Kiran Ashar - Promoter, Chairman and MD (22 years experience, B Arch)
Ravi Ramalingam - Promoter and Whole-time Director (17 years experience, B Com, CA)
Suneet J Desai - Whole-time Director (26 years experience, Diploma civil engineering)
Ninad N Patkar - Whole-time Director (18 years experience, B Arch)
Dilkhush Motilal Malesha - CFO (14 years experience, B Com, CA)
Ritu Jain - CS and Compliance Officer (14 years experience, CS)
Akshay Prem Kripalani - Chief Sales and Marketing Officer (21 years experience, MBA)

Other Operational / Legal / Strategic Disclosures

Not Specified