GANESH HOUSING LIMITED has informed the Exchange about Investor Presentation
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Ganesh Housing reported Q4 FY26 revenue of INR 1,218 Mn (up 33% QoQ), EBITDA of INR 983 Mn (80.7% margin), and PAT of INR 614 Mn (50.4% margin). However, full-year FY26 revenue fell 46% YoY to INR 5,385 Mn (vs INR 9,935 Mn in FY25) due to lower project completions. The company remains net debt-free for over 12 quarters, though borrowings increased to INR 3,049 Mn (vs INR 274 Mn in FY25). Key project updates: Million Minds IT SEZ Phase 1 is nearing completion with ~55% of leasable area under active LOI/EOI discussions; lease rentals expected to commence by Q3 FY27. New planned project 'One 91 Thaltej' (commercial, 1.8 msf) has INR 2,100 Cr lifetime revenue potential, with construction slated to begin in Q2 FY27. Total land bank stands at ~518 acres (fully paid), with new parcels under negotiation.
FY26 revenue decline reflects the project's nature of cyclical delivery in real estate, not a structural issue. The strong 80%+ EBITDA margins and robust order pipeline for Million Minds IT SEZ indicate healthy future cash flows. The company's net debt-free status and large land bank provide a solid foundation for the planned ~32 msf development pipeline.