Pre-Sales: Q1FY27 pre-sales stood at ₹787 crore, representing a 20% year-over-year (YoY) increase.
Gross Collections: Q1FY27 gross collections were ₹409 crore, a 17% YoY increase from ₹351 crore in Q1FY26.
Financial Performance (Consolidated):
Revenue from operations: ₹191 crore in Q1FY27 (vs. ₹191 crore in Q1FY26).
EBITDA: ₹67 crore in Q1FY27, a 39.6% YoY increase (Margin: 35.0%, up 9.5 pp YoY).
PAT: ₹42 crore in Q1FY27, a 25.5% YoY increase (Margin: 21.9%, up 4.2 pp YoY).
Balance Sheet (as of FY26):
Networth: ₹4,472 crore.
Total Borrowings: ₹774 crore.
Net Debt/Equity: 0.06x (FY26), 0.07x (Q1FY27).
Cash & Bank: ₹95 crore.
Total Gross Development Value (GDV): ₹42,700 crore as of 30 June 2026, net of sales already effected.
Business Development Spend: ₹170 crore in Q1FY27 (vs. ₹307 crore in Q1FY26).
Operational and Strategic Highlights
Project Portfolio: The company's GDV of ₹42,700 crore is spread across ten micro-markets in the Mumbai Metropolitan Region (MMR) and one international project in Downtown Dubai.
Segment Mix: Q1FY27 pre-sales were diversified across customer segments: Uber Luxury (29%, ₹226 cr), Premium Luxury (50%, ₹391 cr), and Aspirational Luxury (21%, ₹170 cr).
Development Models: GDV is split by model: Owned (26%), JV / JDA (50%), JV (21%), and Redevelopment (3%).
GDV by Status: The total GDV is broken down into Launched (₹8,370 cr), To-be Launched (₹16,100 cr), and Upcoming for Launch (₹18,230 cr).
Credit Rating: The company maintains an AA long-term rating from India Ratings (Fitch Group).
ESG Performance: The company reported a GRESB ESG score of 99 (5-star rating) and an S&P Global ESG score of 78.
Capital Structure and Shareholding
The net debt/equity ratio was 0.07x as of Q1FY27.
The shareholding pattern as of 30 June 2026 was: Promoter & promoter group (63.14%), Foreign portfolio/institutional investors (18.12%), Domestic institutions (5.30%), and Public & others (13.42%). This pattern is stated to be before the conversion of warrants.
Forward-Looking Information (As Disclosed)
The presentation includes proforma/illustrative embedded EBITDA of 35-40% on pre-sales.
The annuity book (₹76 crore currently) is stated to be on track to reach ~₹450 crore by FY29E.
The document contains standard disclaimers that it includes forward-looking statements subject to risks and uncertainties.
