H1 FY27 sales INR 38 bn; margin gains and 27.3 mn sq ft pipeline
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On the reaction day the stock moved 1.6 pts more than its Residential Commercial Projects peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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H1 FY27 sales were INR 38 bn and collections INR 16.8 bn, both below the prior year. Revenue rose 14% to INR 13.7 bn and profit after tax was INR 0.5 bn. The margin before interest, tax, depreciation and amortisation improved to 13.1% from 6.4%. FY27 guidance is INR 100 bn pre-sales, INR 50 bn collections and INR 40 bn revenue recognition. Net debt was INR 4.5 bn. It plans to launch 27.3 mn sq ft projects over 2-3 years.
Lower sales and collections plus higher net debt may pressure sentiment, but margin gains, guidance and the launch pipeline support recovery.