Submission of Investor Presentation - FY 2025-26 (Q-4)
MODIS · price
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Modis Navnirman, a Mumbai-based premium real estate developer, reported landmark FY26 results with revenue at ₹189.31 crore (up 84% YoY), EBITDA at ₹38.46 crore (up 35% YoY), and PAT at ₹29.14 crore (up 26% YoY). Area sold stood at 53,000 sq. ft., up 23% YoY. Gross margin compressed to 24.09% from 31.71% YoY due to higher project costs, though EBITDA margin held at ~20%. The company has a portfolio of 14 completed projects (7.22 lakh sq. ft.), 6 ongoing projects (12.11 lakh sq. ft.), and 4 upcoming projects (9 lakh sq. ft.). Key ongoing projects include Rashmi Square (68.9% booked), Rashmi Signature (50% booked), and newly launched Rashmi Icon and Rashmi Avenue. Two major handovers were completed — Rashmi Celestia (81 units) and Rashmi Vasudeo (90 units). Notable strategic events include proposed migration from BSE SME to Main Board, the merger of Shree Modis Navnirman Private Limited into the company, and first-time adoption of IND AS accounting standards. The company also incorporated Modis Navnirman Foundation for CSR activities.
Strong top-line and bottom-line growth with 84% revenue surge demonstrates execution strength, though margin compression to ~24% warrants monitoring. The SME-to-Main Board migration and merger should enhance liquidity and market visibility. The asset-light redevelopment model supports sustainable expansion.