Scrip Symbol

VEEGALAND

Corporate Profile

  • Part of V-Guard Group with business legacy since 1977
  • 25 total projects: 10 completed, 12 ongoing, 3 upcoming
  • Presence across 4 cities in Kerala
  • Certified as Great Place to Work
  • 692 units delivered, 994 units under construction, 212 units upcoming
  • Signature concept: BIOPHILIC URBAN HOMES blending nature with sustainable design

Operational Highlights Q2 FY27

  • Pre-sales: ₹174.34 Cr (37.56% YoY growth)
  • Pre-sales area: 1.89 lakh sq ft (19.62% YoY growth)
  • Gross collections: ₹125.22 Cr (88.22% YoY growth)
  • Revenue from operations: ₹106.34 Cr (28.66% YoY growth)
  • EBITDA: ₹22.78 Cr (77.76% YoY growth)
  • PAT: ₹15.99 Cr (92.34% YoY growth)
  • Total order value: ₹1086.79 Cr
  • Unrecognised revenue: ₹501.35 Cr (46% of order book)
  • Debt-equity ratio: 0.15x (improved from 0.32x)
  • 18.58 lakh sq ft under development across 12 ongoing projects

Operational Highlights H1 FY27

  • Revenue from operations: ₹180.66 Cr (45.51% YoY growth)
  • EBITDA: ₹37.09 Cr (96.10% YoY growth)
  • PAT: ₹25.71 Cr (123.08% YoY growth)

Financial Performance Q2 FY27 vs Q2 FY26

  • Revenue from operations: ₹106.34 Cr vs ₹82.66 Cr (+28.66%)
  • Total Income: ₹108.77 Cr vs ₹83.13 Cr (+30.84%)
  • Operating Expenses: ₹85.99 Cr vs ₹70.32 Cr (+22.28%)
  • Gross profit: ₹32.88 Cr vs ₹21.88 Cr (+50.26%)
  • Gross margin: 30.9% vs 26.4% (+445 bps)
  • EBITDA: ₹22.78 Cr vs ₹12.82 Cr (+77.76%)
  • EBITDA margin: 20.9% vs 15.4% (+550 bps)
  • Profit before tax: ₹21.47 Cr vs ₹11.38 Cr (+88.60%)
  • Profit after tax: ₹15.99 Cr vs ₹8.31 Cr (+92.34%)
  • PAT margin: 14.7% vs 10.0% (+470 bps)
  • EPS: ₹4.46 vs ₹2.88 (+54.86%)

Financial Performance H1 FY27 vs H1 FY26

  • Revenue from operations: ₹180.66 Cr vs ₹124.16 Cr (+45.51%)
  • Gross profit: ₹53.87 Cr vs ₹34.05 Cr (+58.23%)
  • Gross margin: 29.8% vs 27.4% (+240 bps)
  • EBITDA: ₹37.09 Cr vs ₹18.92 Cr (+96.10%)
  • EBITDA margin: 20.1% vs 15.1% (+500 bps)
  • Profit before tax: ₹34.45 Cr vs ₹15.67 Cr (+119.82%)
  • Profit after tax: ₹25.71 Cr vs ₹11.53 Cr (+123.08%)
  • PAT margin: 14.2% vs 9.3% (+490 bps)
  • EPS: ₹7.38 vs ₹4.28 (+72.43%)

Growth Pipeline - Upcoming Projects

  • Sarovar: 88 units, 1,79,545 sq ft
  • Fortune: 72 units, 1,79,288 sq ft
  • East Fort: 52 units, 1,03,177 sq ft
  • Total upcoming: 212 units, 4,62,010 sq ft
  • Estimated GDV: ₹450 Cr
  • Land reserves: 6.46 acres
  • Q1 acquisition: 97 cents

Project Portfolio Details

Completed Projects (10)

  • Green Clouds: 11 units, 96,745 sq ft
  • Petunia & Begonia: 114 units, 1,76,955 sq ft
  • Kings Town: 75 units, 1,01,100 sq ft
  • Bluebell: 14 units, 22,128 sq ft
  • Kings Fort: 108 units, 1,61,928 sq ft
  • Zinnia: 32 units, 56,885 sq ft
  • Exotica: 75 units, 1,40,381 sq ft
  • Thejus: 86 units, 1,42,406 sq ft
  • Bliss: 78 units, 78,312 sq ft
  • Springbell: 99 units, 1,28,169 sq ft
  • Total completed: 692 units, 11,05,009 sq ft

Ongoing Projects (12)

  • Lluvia Garden: 163 units, 3,23,700 sq ft
  • Green Heights: 141 units, 2,77,907 sq ft
  • Casabella: 84 units, 1,70,852 sq ft
  • Green Capitol: 88 units, 1,51,778 sq ft
  • Elanza: 100 units, 1,51,354 sq ft
  • Maybell: 84 units, 1,48,860 sq ft
  • Symphony: 56 units, 1,21,800 sq ft
  • Serene: 58 units, 1,05,206 sq ft
  • Flora: 44 units, 94,039 sq ft
  • Queens Park: 44 units, 89,639 sq ft
  • Green Fort: 54 units, 61,272 sq ft
  • Amora: 78 units, 1,61,053 sq ft
  • Total ongoing: 994 units, 18,57,460 sq ft

Upcoming Projects (3)

  • Sarovar: 88 units, 1,79,545 sq ft
  • Fortune: 72 units, 1,79,288 sq ft
  • East Fort: 52 units, 1,03,177 sq ft
  • Total upcoming: 212 units, 4,62,010 sq ft

Balance Sheet Position (as of September 30, 2026)

Equity & Liabilities (₹ Crores)

  • Shareholders Funds: 484.3 (vs 266.9 on Mar-26)
  • Share Capital: 48.8 (vs 33.8 on Mar-26)
  • Other Equity: 435.5 (vs 233.2 on Mar-26)
  • Non Current Liabilities: 38.5 (vs 32.4 on Mar-26)
  • Long Term Borrowing: 34.2 (vs 27.2 on Mar-26)
  • Current Liabilities: 186.4 (vs 184.5 on Mar-26)
  • Short term Borrowings: 36.3 (vs 58.4 on Mar-26)
  • Total Equity & Liabilities: 709.2 (vs 483.8 on Mar-26)

Assets (₹ Crores)

  • Non Current Assets: 128.8 (vs 70.9 on Mar-26)
  • Property, plant & Equipment: 22.7 (vs 22.6 on Mar-26)
  • Other non current financial assets: 97.6 (vs 44.6 on Mar-26)
  • Current Assets: 580.5 (vs 413.0 on Mar-26)
  • Inventories: 273.8 (vs 288.0 on Mar-26)
  • Trade Receivables: 42.6 (vs 45.1 on Mar-26)
  • Cash & Cash Equivalents: 92.3 (vs 20.5 on Mar-26)
  • Bank Balance other than Cash: 92.3 (vs 12.7 on Mar-26)
  • Total Assets: 709.2 (vs 483.8 on Mar-26)

Cash Flow Statement H1 FY27 (₹ Crores)

  • Net Profit Before Tax: 34.5
  • Operating profit before working capital changes: 34.4
  • Changes in working capital: 28.9
  • Cash generated from operations: 63.3
  • Direct taxes paid: -7.6
  • Net Cash from Operating Activities: 55.8
  • Net Cash from Investing Activities: -152.3
  • Net Cash from Financing Activities: 168.4
  • Net Increase in Cash and Cash equivalents: 71.8
  • Cash at beginning of period: 20.5
  • Cash at end of period: 92.4

Key Definitions

  • Pre-sales: Units booked by customers by remitting booking advance while project ongoing
  • Order value: Aggregate value of units with executed customer agreements
  • Unrecognised revenue: Order value yet to be recognised in P&L
  • Revenue recognition: Percentage-of-completion method based on actual project cost incurred to total estimated project cost