Transcript of Investors / Analysts meet held on May 20, 2026 - Q4 & FY26
HUBTOWN · price
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Hubtown Limited held its Q4 FY26 analyst meet discussing its real estate development business. Management highlighted that two promoter-held entity mergers (Rising City and 25 West) have been approved by NCLT, with a third merger (25 South and 25 Downtown) awaiting exchange approval. The company has approximately 11,300 crores of unrecognized revenue from booked sales. Key project updates include 25 South being 95% sold and expected completion this year, while Rising City Phase 1 has 5 of 6 towers with occupancy certificates. The company guided for FY27 pre-sales of around 6,000 crores and collections of 3,000 crores. Management acknowledged the 15% interest rate as a concern due to legacy debt from Downtown acquisition, though new construction funding from ICICI is at 12%. A cancelled equity placement at Rs 341 is being replaced with a planned QIP. Sunstream City, a 150-acre Thane seafront project, awaits environmental clearances before launch.
Shareholders can expect improved returns from FY27 onwards as major projects complete, debt reduces, and higher-cost debt is refinanced. The mergers will consolidate premium projects (25 South, 25 West, Rising City) into the listed entity without dilution, effective April 1, 2025.