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Raja Bahadur International Q2 FY27 results: net profit down 47.4% to ₹0.40 crore, revenue up 14.3%
Raja Bahadur International Ltd reported consolidated revenue of ₹7.99 crore in Q2 FY27, up 14.3% year on year and 5.8% sequentially, while EBITDA fell to ₹3.97 crore and the EBITDA margin declined to 49.7%. The company reported a net profit of ₹0.40 crore and basic EPS of ₹16.89, compared with a net profit of ₹0.76 crore in Q2 FY26 and a net loss of ₹2.33 crore in Q1 FY27.
Key points
- Consolidated revenue was ₹7.99 crore in Q2 FY27, up 14.3% from ₹6.99 crore in Q2 FY26 and 5.8% from ₹7.55 crore in Q1 FY27.
- EBITDA was ₹3.97 crore, down 9.6% year on year and 12.4% sequentially, while the EBITDA margin fell to 49.7% from 62.8% and 60.0%, respectively.
- Consolidated net profit was ₹0.40 crore, down 47.4% from ₹0.76 crore a year earlier but an improvement from a net loss of ₹2.33 crore in Q1 FY27.
- Profit before tax was ₹0.53 crore, down 45.9% year on year and 50.5% sequentially, while basic EPS was ₹16.89.
- H1 FY27 revenue was ₹15.53 crore, up 11.4%, but the company reported a net loss of ₹1.93 crore compared with a net loss of ₹0.45 crore in H1 FY26.
How did Raja Bahadur International perform in Q2 FY27?
On the consolidated basis, Raja Bahadur International reported revenue of ₹7.99 crore in Q2 FY27, up 14.3% from ₹6.99 crore in Q2 FY26 and 5.8% from ₹7.55 crore in Q1 FY27. Total income was ₹8.68 crore, including other income of ₹0.69 crore, compared with ₹7.64 crore in the year-ago quarter and ₹8.13 crore in the previous quarter.
EBITDA was ₹3.97 crore in Q2 FY27, down 9.6% from ₹4.39 crore in Q2 FY26 and 12.4% from ₹4.53 crore in Q1 FY27. The EBITDA margin was 49.7%, down 13.1 percentage points year on year and 10.3 percentage points sequentially. Profit before tax was ₹0.53 crore, and the company reported a net profit of ₹0.40 crore with basic EPS of ₹16.89; Q2 FY26 profit was ₹0.76 crore with EPS of ₹30.9.
The standalone basis showed revenue of ₹7.99 crore and profit before tax of ₹0.77 crore for Q2 FY27. Standalone revenue was up 14.3% year on year, and standalone profit after tax was ₹0.48 crore. The filing notes that profit or loss in the real estate business does not necessarily accrue evenly over a period, so a quarter’s result may not represent the result for the full period.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 7.99 | 7.55 | 6.99 | +14.3% | +5.8% |
| Other income | 0.69 | 0.58 | 0.65 | +6.2% | +19.0% |
| Total expenses | 8.15 | 7.06 | 6.65 | +22.6% | +15.4% |
| EBITDA | 3.97 | 4.53 | 4.39 | −9.6% | −12.4% |
| EBITDA margin | 49.7% | 60.0% | 62.8% | −13.1 pp | −10.3 pp |
| Profit before tax | 0.53 | 1.07 | 0.98 | −45.9% | −50.5% |
| Tax | 0.13 | 3.40 | 0.23 | −43.5% | −96.2% |
| Net profit | 0.40 | −2.33 | 0.76 | −47.4% | turned to profit |
| EPS (₹) | 16.89 | 30.90 | −45.3% |
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 Raja Bahadur International's costs and profit?
Total expenses were ₹8.15 crore in Q2 FY27, up 22.6% from ₹6.65 crore in Q2 FY26 and 15.4% from ₹7.06 crore in Q1 FY27. Other expenses increased to ₹3.15 crore, up ₹1.25 crore or 65.8% year on year, while employee cost rose ₹0.19 crore to ₹0.86 crore and depreciation increased ₹0.10 crore to ₹0.59 crore. Finance costs were ₹3.54 crore, down ₹0.02 crore from the year-ago quarter, and there was no exceptional item.
Other income increased to ₹0.69 crore from ₹0.65 crore in Q2 FY26, while tax expense fell to ₹0.13 crore from ₹0.23 crore. Against Q1 FY27, other income rose ₹0.11 crore and tax expense fell ₹3.27 crore from ₹3.40 crore. The filing does not state a specific reason for the changes in other expenses, employee cost, depreciation or tax.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 0 | 0.03 | −0.03 | |
| Employee cost | 0.86 | 0.67 | +0.19 | +28.4% |
| Finance costs | 3.54 | 3.56 | −0.02 | −0.6% |
| Depreciation | 0.59 | 0.49 | +0.10 | +20.4% |
| Other expenses | 3.15 | 1.90 | +1.25 | +65.8% |
| Total expenses | 8.15 | 6.65 | +1.50 | +22.6% |
| Other income | 0.69 | 0.65 | +0.04 | +6.2% |
| Tax | 0.13 | 0.23 | −0.10 | −43.5% |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
In the first half of FY27, consolidated revenue was ₹15.53 crore, up 11.4% from ₹13.94 crore in H1 FY26. Total income was ₹16.81 crore, down 11.9% from ₹19.09 crore, while profit before tax was ₹1.60 crore, down 35.0% from ₹2.46 crore.
Raja Bahadur International reported a net loss of ₹1.93 crore in H1 FY27 compared with a net loss of ₹0.45 crore in H1 FY26. Basic EPS was negative ₹77.24 for H1 FY27.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 15.53 | 13.94 | +11.4% |
| Profit before tax | 1.60 | 2.46 | −35.0% |
| Net profit | −1.93 | −0.45 | |
| EPS (₹) | −77.24 |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
At 30 September 2026, consolidated total assets were ₹387.76 crore, compared with ₹363.16 crore at 31 March 2026. Total equity was ₹11.13 crore, compared with ₹13.06 crore, while borrowings increased to ₹338.57 crore from ₹311.91 crore. Cash was ₹0.02 crore, compared with ₹0.03 crore; trade receivables were ₹21.74 crore and inventories ₹0.07 crore.
H1 FY27 operating cash flow was ₹6.16 crore, compared with ₹9.26 crore in H1 FY26. Investing cash flow was negative ₹31.0 crore against negative ₹40.49 crore, financing cash flow was ₹19.66 crore against ₹46.13 crore, and capital expenditure was ₹32.5 crore compared with ₹41.28 crore.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 387.76 | 363.16 |
| Total equity | 11.13 | 13.06 |
| Borrowings | 338.57 | 311.91 |
| Cash and equivalents | 0.02 | 0.03 |
| Inventories | 0.07 | 0.06 |
| Trade receivables | 21.74 | 13.48 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | 6.16 | 9.26 |
| Cash from investing | −31 | −40.49 |
| Cash from financing | 19.66 | 46.13 |
| Capital expenditure | 32.50 | 41.28 |
Source: Company's results filing (XBRL).
How has Raja Bahadur International done over the last 8 quarters?
Raja Bahadur International’s quarterly revenue rose in each of the last five quarters, reaching ₹7.99 crore in Q2 FY27 from ₹6.75 crore in Q3 FY25. The highest quarterly net profit was ₹1.01 crore in Q4 FY25, while the lowest was a net loss of ₹2.33 crore in Q1 FY27; the company returned to a net profit of ₹0.40 crore in Q2 FY27.
The EBITDA margin peaked at 63.2% in Q3 FY25 and fell to 49.7% in Q2 FY27 after reaching 60.0% in Q1 FY27. Revenue reached its highest level of the period in Q2 FY27, while profit recovered from the preceding quarter’s loss.
How did other Residential, Commercial Projects companies do?
Eleven other Residential, Commercial Projects companies filed for the quarter. Their median revenue growth was 79.6%, and eight of the 14 peers whose profit was compared reported higher profit.
Five peers grew more slowly than Raja Bahadur International’s 14.3% revenue growth, while six grew faster. The peer comparison was as of 4 November 2026.
| Raja Bahadur International revenue growth (YoY) | +14.3% |
|---|---|
| Median of 11 other Residential, Commercial Projects companies | +79.6% |
| Companies with slower revenue growth than Raja Bahadur International | 5 of 11 |
| Companies with faster revenue growth than Raja Bahadur International | 6 of 11 |
| Companies whose net profit rose | 8 of 14 |
Source: Filed results (XBRL) of the industry's companies.
Quick answers
What was Raja Bahadur International's revenue in Q2 FY27?
Revenue from operations was ₹7.99 crore, up 14.3% from ₹6.99 crore in Q2 FY26 (consolidated).
Did Raja Bahadur International make a profit in Q2 FY27?
Yes. Net profit was ₹0.40 crore, against a net profit of ₹0.76 crore in Q2 FY26.
What was Raja Bahadur International's EPS in Q2 FY27?
Basic earnings per share were ₹16.89, against ₹30.90 in Q2 FY26.
When did Raja Bahadur International announce its Q2 FY27 results?
On 3 November 2026, in a filing to the BSE.
Sources
- Board Meeting Outcome for For Approval Of The Un-Audited Financial Results (Standalone And Consolidated) For The Quarter Ended September 30, 2026 Along With Limited Review Report Thereon (BSE, 3 November 2026) · PDF
- Un-Audited Financial Results (Standalone And Consolidated) For The 2Nd Quarter And Half Year Ended September 30, 2026 (BSE, 3 November 2026) · PDF
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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