Q1 FY27 Financial Highlights

  • Pre-Sales: Recorded ₹700 Cr, showing a 129% year-on-year (y-o-y) growth, driven by robust demand across ongoing and newly launched projects.
  • Customer Collections: Maintained strong financial discipline with collections of ₹550 Cr, up 47% y-o-y.
  • Total Income: Reported ₹536 Cr, a 37% y-o-y growth, inline with company expectations. This comprises Revenue from Operations of ₹527 Cr (up 38% y-o-y) and Other Income of ₹9 Cr.
  • EBITDA: Stood at ₹70 Cr, a 71% y-o-y increase. The EBITDA Margin expanded to 13% from 11% in Q1 FY26.
  • Profit Before Tax (PBT): Was ₹15 Cr, a decrease of 29% y-o-y, resulting in a PBT Margin of 2.8% (vs. 5.4% in Q1FY26).
  • Taxes: Amounted to ₹2 Cr for the quarter.

Financial Position (Abridged Balance Sheet)

  • Total Assets: ₹7,050 Cr (vs. ₹7,062 Cr in FY26).
  • Non-Current Assets: ₹121 Cr (vs. ₹108 Cr in FY26).
  • Current Assets: ₹6,929 Cr (vs. ₹6,954 Cr in FY26).
  • Equity: ₹1,582 Cr (vs. ₹1,567 Cr in FY26).
  • Non-Current Liabilities: ₹862 Cr (vs. ₹739 Cr in FY26).
  • Current Liabilities: ₹4,606 Cr (vs. ₹4,756 Cr in FY26).
  • Total Liabilities: ₹7,050 Cr.

Cash Flow Position

  • Opening Cash Balance: ₹358 Cr.
  • Total Inflow (A): ₹567 Cr.
  • Total Outflow (B): ₹708 Cr, comprising Approval Cost (₹285 Cr), Construction Cost (₹276 Cr), and Sales, Marketing, Admin, Employee & Other Costs (₹147 Cr).
  • Net Operating Cash Flow (A-B): Negative ₹141 Cr.
  • Bank Loan Inflow: ₹54 Cr.

Gross Development Value (GDV) Breakdown

The company operates on a twin-engine model with a total GDV pipeline of ₹52,000 Cr.

  • Engine 1: Own Land: GDV of ₹25,000 Cr.
  • Launched: ₹16,500 Cr
  • Sold: ₹9,400 Cr
  • Revenue Recognized: ₹7,400 Cr
  • Balance Revenue: ₹2,000 Cr
  • Unsold: ₹7,100 Cr
  • To be Launched: ₹8,500 Cr
  • Engine 2: JDAs (Joint Development Agreements): GDV of ₹27,000 Cr.
  • Launched: ₹11,500 Cr
  • Sold: ₹2,900 Cr
  • Revenue Recognized: ₹1,600 Cr
  • Balance Revenue: ₹1,300 Cr
  • Unsold: ₹8,600 Cr
  • To be Launched: ₹15,500 Cr

Forward Guidance for FY27

  • EBITDA Margin: 17-19%
  • Return on Capital Employed (ROCE): ~20%
  • Revenue Growth: ~20%

Project Portfolio Details

The presentation provided a detailed status update on multiple residential and retail projects, including:

  • Ten X (Thane): RERA Carpet Area ~1.7 Mn sq.ft. (10 towers). 3,084 bookings with 99% units sold. Revenue Recognized: ₹3,298 Cr. OC received for all towers.
  • The Address by GS (Multiple Seasons & Locations): A premium series of projects in Thane with varying unit mixes (2BHK to 6BHK). Sales percentages range from ~38% to ~99% across different phases.
  • Invictus by GS: Luxury projects with 4.5BHK units. Sales range from ~20% to ~92%.
  • High Street Retail (Park Street & Raymond Retail): Retail spaces with ~90% and ~29% units sold, respectively.
  • Mumbai Projects: Updates on projects in Bandra, BKC, Wadala, and Sion, which are in various stages of excavation, foundation, and construction. Launched units range from 18% to 66% sold.

Management & Board

The document lists the management team and board members, including Chairman Gautam Hari Singhania and Director Ashish Kapadia, among other independent directors with expertise in real estate, finance, law, and governance.

Disclaimer

The presentation contains unaudited figures compiled by management, not for legal or regulatory investment purposes. It includes forward-looking statements subject to risks and uncertainties.