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Hubtown Q2 FY27 results: net profit down 26.9% to ₹23.16 crore, revenue up 126.9%
Hubtown Limited reported Q2 FY27 consolidated revenue of ₹473.01 crore, up 126.9% from Q2 FY26, while EBITDA fell 57.6% to ₹13.28 crore and the EBITDA margin narrowed to 2.8%. Net profit for the period was ₹23.16 crore and profit attributable to owners was ₹14.04 crore, with basic EPS of ₹0.99.
Key points
- Revenue from operations rose to ₹473.01 crore in Q2 FY27 from ₹208.51 crore in Q2 FY26.
- EBITDA fell to ₹13.28 crore from ₹31.31 crore, while the margin declined 12.2 percentage points to 2.8%.
- Net profit for the period was ₹23.16 crore, down from ₹31.67 crore; profit attributable to owners was ₹14.04 crore.
- H1 FY27 revenue was ₹628.63 crore, up 58.8%, while profit before tax fell to ₹63.15 crore from ₹130.66 crore.
- The stock was down 0.7% by the next day's close from its pre-results close, compared with a 0.5% decline for the industry median.
How did Hubtown perform in Q2 FY27?
Hubtown's consolidated revenue from operations for Q2 FY27, the July–September 2026 quarter, was ₹473.01 crore, up 126.9% from ₹208.51 crore in Q2 FY26. Total income rose to ₹531.67 crore from ₹263.29 crore. On a standalone basis, revenue was ₹17.75 crore and profit before tax was ₹2.53 crore.
EBITDA fell to ₹13.28 crore from ₹31.31 crore in Q2 FY26, and the EBITDA margin declined 12.2 percentage points to 2.8%. Profit before tax was ₹30.75 crore, down from ₹58.49 crore, while net profit for the period was ₹23.16 crore against ₹31.67 crore. Profit attributable to owners fell to ₹14.04 crore from ₹24.06 crore, and basic EPS was ₹0.99 against ₹1.75.
Against Q1 FY27, revenue rose 204.0% from ₹155.62 crore to ₹473.01 crore. EBITDA fell from ₹28.41 crore to ₹13.28 crore and its margin declined 15.5 percentage points to 2.8%. Profit before tax was ₹30.75 crore against ₹32.40 crore, net profit for the period was ₹23.16 crore against ₹26.58 crore, and basic EPS was ₹0.99 against ₹1.75.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 473.01 | 155.62 | 208.51 | +126.9% | +204.0% |
| Other income | 58.66 | 46.86 | 54.78 | +7.1% | +25.2% |
| Total expenses | 486.04 | 170.08 | 204.80 | +137.3% | +185.8% |
| EBITDA | 13.28 | 28.41 | 31.31 | −57.6% | −53.3% |
| EBITDA margin | 2.8% | 18.3% | 15.0% | −12.2 pp | −15.5 pp |
| Profit before tax | 30.75 | 32.40 | 58.49 | −47.4% | −5.1% |
| Tax | 8.33 | 5.78 | 26.80 | −68.9% | +44.1% |
| Net profit | 23.16 | 26.58 | 31.67 | −26.9% | −12.9% |
| EPS (₹) | 0.99 | 1.75 | 1.75 | −43.4% | −43.4% |
EBITDA here is revenue from operations less operating costs (total expenses excluding finance costs and depreciation): before other income and exceptional items. Growth is shown only when both figures are positive. Source: Company's results filing (XBRL).
What changed in Hubtown's costs and profit?
Total expenses rose to ₹486.04 crore in Q2 FY27 from ₹204.80 crore in Q2 FY26, an increase of ₹281.24 crore. Cost of materials fell by ₹29.81 crore to ₹76.13 crore, while employee cost rose by ₹7.71 crore to ₹16.54 crore. Finance costs declined by ₹1.11 crore to ₹25.74 crore, depreciation fell by ₹0.18 crore to ₹0.57 crore, and other expenses increased by ₹2.49 crore to ₹31.51 crore.
Other income increased by ₹3.88 crore to ₹58.66 crore from ₹54.78 crore in Q2 FY26. The quarter included an exceptional charge of ₹14.88 crore, compared with no exceptional item in Q2 FY26. Tax expense fell by ₹18.47 crore to ₹8.33 crore. These figures show that revenue growth was accompanied by lower EBITDA and profit.
The investor presentation stated that the limited-review conclusion was qualified because interest on certain intercorporate deposits had not been provided for, with the amount stated as ₹53.4 Mn in Q2 and ₹106.3 Mn in H1. Management said finance cost and profit were sensitive to this matter.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 76.13 | 105.94 | −29.81 | −28.1% |
| Employee cost | 16.54 | 8.83 | +7.71 | +87.3% |
| Finance costs | 25.74 | 26.85 | −1.11 | −4.1% |
| Depreciation | 0.57 | 0.75 | −0.18 | −24.0% |
| Other expenses | 31.51 | 29.02 | +2.49 | +8.6% |
| Total expenses | 486.04 | 204.80 | +281.24 | +137.3% |
| Other income | 58.66 | 54.78 | +3.88 | +7.1% |
| Tax | 8.33 | 26.80 | −18.47 | −68.9% |
| Exceptional items | −14.88 (charge) | none |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
In H1 FY27, Hubtown reported revenue of ₹628.63 crore, up 58.8% from ₹395.92 crore in H1 FY26. Total income rose to ₹734.15 crore from ₹498.33 crore. Profit before tax fell to ₹63.15 crore from ₹130.66 crore, while net profit for the period was ₹49.74 crore against ₹113.88 crore.
Basic EPS for H1 FY27 was ₹2.74, down from ₹7.52 in H1 FY26. The investor presentation reported that profit attributable to owners fell to ₹389.6 Mn for H1 FY27 from ₹1,033.4 Mn for H1 FY26. The company also recorded an exceptional item of ₹14.88 crore in H1 FY27.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 628.63 | 395.92 | +58.8% |
| Profit before tax | 63.15 | 130.66 | −51.7% |
| Net profit | 49.74 | 113.88 | −56.3% |
| EPS (₹) | 2.74 | 7.52 | −63.6% |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
At 30 September 2026, total assets were ₹4,064.45 crore, down from ₹6,302.43 crore at 31 March 2026. Total equity rose to ₹2,894.98 crore from ₹2,664.73 crore, while borrowings fell to ₹406.67 crore from ₹1,195.97 crore. Cash and cash equivalents were ₹22.8 crore against ₹140.95 crore.
Inventories declined to ₹1,239.06 crore from ₹3,816.8 crore at 31 March 2026. Trade receivables fell to ₹179.31 crore from ₹269.49 crore, and trade payables declined to ₹143.21 crore from ₹215.78 crore. For H1 FY27, operating cash flow was ₹45.14 crore, investing cash flow was ₹101.52 crore and financing cash flow was a negative ₹64.7 crore.
Compared with H1 FY26, operating cash flow fell from ₹93.76 crore, investing cash flow changed from a negative ₹313.54 crore to ₹101.52 crore, and financing cash flow changed from ₹286.7 crore to a negative ₹64.7 crore. Capital expenditure was ₹1.72 crore, against ₹2.27 crore in H1 FY26.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 4,064 | 6,302 |
| Total equity | 2,895 | 2,665 |
| Borrowings | 406.67 | 1,196 |
| Cash and equivalents | 22.80 | 140.95 |
| Inventories | 1,239 | 3,817 |
| Trade receivables | 179.31 | 269.49 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | 45.14 | 93.76 |
| Cash from investing | 101.52 | −313.54 |
| Cash from financing | −64.70 | 286.70 |
| Capital expenditure | 1.72 | 2.27 |
Source: Company's results filing (XBRL).
How has Hubtown done over the last 8 quarters?
Revenue reached its highest level in the supplied series in Q2 FY27 at ₹473.01 crore. It had bottomed at ₹87.59 crore in Q3 FY26 before rising to ₹160.0 crore in Q4 FY26 and ₹155.62 crore in Q1 FY27. The latest quarter therefore showed a sharp rise in revenue.
Profit attributable to the period was highest at ₹82.21 crore in Q1 FY26 and lowest at ₹1.89 crore in Q4 FY25. It was ₹23.16 crore in Q2 FY27, below ₹26.58 crore in Q1 FY27. The EBITDA margin bottomed at 2.5% in Q3 FY26, peaked at 49.1% in Q4 FY26 and fell to 2.8% in Q2 FY27.
What did Hubtown's management say?
Management said the occupation certificate for Hubtown Seasons Black Forest (B Wing) was expected in Q3 FY27. It also said Rising City Tower A6, 25 South Tower C, Hubtown Premiere Residences Bel Air, Hubtown North Star Ahmedabad and Hubtown Joyos Mehsana were progressing significantly towards completion within the next 2 quarters, with the last Rising City Phase 1 building targeted by March 2027.
Management said 25 West had construction and sales underway in Tower 1, work had started in Tower 2, and expected total revenue of about ₹6,000 crore. It also said 25 South Tower C and 25 Downtown’s four commenced towers were moving into execution, with Tower 5 started and Tower 6 yet to commence.
Management said Schemes 1 and 2 remained subject to NCLT sanction, while Scheme 3 was in the stock-exchange approval process. It noted that delays, inability to realise anticipated benefits or integration difficulties could adversely affect the business, and that financial information for the proposed transferor companies was based on management information and was unaudited and unreviewed.
The investor presentation did not provide a separate analyst-question section. It reported that 25 West had H1 total income of ₹5.28 Mn against total expenses of ₹143.29 Mn, resulting in a ₹138.01 Mn profit-before-tax loss.
How did Hubtown shares react?
After the filing appeared after market hours, Hubtown’s price fell 4.1% within 5 minutes, 4.5% within 15 minutes and 4.8% within 30 minutes. On the reaction day, the stock closed 0.1% below its previous close. By the next day’s close, it was down 0.7% from the pre-results close; a five-day move was not available.
Earlier results-day moves were negative on 3 August 2026, 14 May 2026, 13 February 2026, 12 November 2025, 12 August 2025, 14 February 2025 and 15 November 2024, at 2.0%, 6.7%, 6.4%, 0.8%, 0.1%, 0.9% and 0.3%, respectively. The move on 13 August 2024 was positive at 3.6%.
| After the filing | Stock | Residential Commercial Projects median |
|---|---|---|
| 5 minutes | −4.1% | |
| 15 minutes | −4.5% | |
| 30 minutes | −4.8% | |
| Reaction day | −0.1% | −1.3% |
| Next day | −0.7% | −0.5% |
Minutes are measured from the price when the filing appeared; days from the previous close. Source: MarketPing price-reaction measurement.
| Results filed on | Stock on the reaction day |
|---|---|
| 3 August 2026 | −2.0% |
| 14 May 2026 | −6.7% |
| 13 February 2026 | −6.4% |
| 12 November 2025 | −0.8% |
| 12 August 2025 | −0.1% |
| 14 February 2025 | −0.9% |
| 15 November 2024 | −0.3% |
| 13 August 2024 | +3.6% |
Source: MarketPing price-reaction measurement.
How did other Residential Commercial Projects companies do?
Among 42 other Residential Commercial Projects companies that had filed for the quarter, the median revenue growth was 15.7%. Of these peers, 35 grew more slowly than Hubtown and 7 grew faster than Hubtown, based on the company’s Q2 FY27 revenue growth.
Twenty-four peers reported higher profit, while 42 peers were compared for profit. These figures were available as of 6 November 2026, while Hubtown announced its results on 29 October 2026.
| Hubtown revenue growth (YoY) | +126.9% |
|---|---|
| Median of 42 other Residential Commercial Projects companies | +15.7% |
| Companies with slower revenue growth than Hubtown | 35 of 42 |
| Companies with faster revenue growth than Hubtown | 7 of 42 |
| Companies whose net profit rose | 24 of 42 |
Source: Filed results (XBRL) of the industry's companies.
Quick answers
What was Hubtown's revenue in Q2 FY27?
Revenue from operations was ₹473.01 crore, up 126.9% from ₹208.51 crore in Q2 FY26 (consolidated).
Did Hubtown make a profit in Q2 FY27?
Yes. Net profit was ₹23.16 crore, against a net profit of ₹31.67 crore in Q2 FY26.
What was Hubtown's EPS in Q2 FY27?
Basic earnings per share were ₹0.99, against ₹1.75 in Q2 FY26.
How did Hubtown shares react to the Q2 FY27 results?
On the reaction day the stock moved −0.1% from the previous close; the median Residential Commercial Projects stock moved −1.3%.
When did Hubtown announce its Q2 FY27 results?
On 29 October 2026, in a filing to the BSE.
Sources
- Board Meeting Intimation for Intimation Of The Board Meeting To Be Held On 29/10/2026 (BSE, 26 October 2026) · PDF
- Board Meeting Outcome for Outcome Of Board Meeting Held Today I.E 29/10/2026 And Board Approved And Taken On Record The Unaudited Standalone And Consolidated Financial Results For The Quarter And Half Year Ended September 30,2026 (BSE, 29 October 2026) · PDF
- We Wish To Inform You That At The Meeting Of The Board Of Directors Of The Company Held Today I.E. October 29, 2026, The Board Has Inter-Alia Approved And Taken On Record The Unaudited Standalone And Consolidated Financial Results For The Quarter And Half-Year Ended September 30, 2026, Which Have Been Subjected To Limited Review By The Statutory Auditors Of The Company, In Terms Of Regulation 33 Of The SEBI (Listing Obligations And Disclosure Requirements) Regulations, 2015 (SEBI Listing Regulations). (BSE, 29 October 2026) · PDF
- The investor presentation (5 November 2026)
How this was written: every figure in the tables and charts is calculated from the company’s filed results (XBRL) and MarketPing’s price measurements. The text is drafted with AI from those figures and the filings, and a checker removes any sentence carrying a number it cannot trace to them. How we write these.
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