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Valor Estate Q2 FY27 results: net loss of ₹23.79 crore vs ₹55.22 crore profit
Valor Estate Limited reported standalone Q2 FY27 revenue of ₹0 crore and a net loss of ₹23.79 crore for the July–September 2026 quarter. EBITDA was negative, while total income was ₹1.43 crore and basic EPS was ₹0.44; the company also reported a standalone loss for H1 FY27.
Key points
- Q2 FY27 standalone revenue was ₹0 crore, compared with ₹75.55 crore in Q2 FY26.
- The company reported a net loss of ₹23.79 crore in Q2 FY27, compared with net profit of ₹55.22 crore in Q2 FY26.
- Q2 FY27 EBITDA was negative, while total income was ₹1.43 crore and basic EPS was ₹0.44.
- Finance costs were ₹25.37 crore in Q2 FY27, compared with ₹6.83 crore in Q2 FY26.
- Standalone total assets were ₹6,386.90 crore and total equity was ₹4,628.80 crore as of 30 September 2026.
How did Valor Estate perform in Q2 FY27?
Valor Estate reported standalone revenue of ₹0 crore in Q2 FY27, compared with ₹75.55 crore in Q2 FY26. Other income was ₹1.43 crore, taking total income to ₹1.43 crore, down ₹69.64 crore from Q2 FY26. EBITDA was negative at ₹2.30 crore, compared with ₹65.80 crore in the year-ago quarter; an EBITDA margin was not reported.
The company reported a net loss of ₹23.79 crore in Q2 FY27, compared with net profit of ₹55.22 crore in Q2 FY26. Loss before tax was ₹27.29 crore, compared with profit before tax of ₹54.46 crore, while basic EPS was ₹0.44 compared with ₹1.03. Against Q1 FY27, revenue was unchanged at ₹0 crore, total income fell by ₹0.86 crore to ₹1.43 crore, and the net loss increased by ₹2.10 crore to ₹23.79 crore. These figures are standalone; the filing also refers to consolidated results, but no consolidated figures are provided here.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 0 | 0 | 75.55 | ||
| Other income | 1.43 | 2.29 | −4.48 | −37.6% | |
| Total expenses | 28.72 | 23.73 | 16.61 | +72.9% | +21.0% |
| EBITDA | −2.30 | −6.83 | 65.80 | turned to loss | |
| Profit before tax | −27.29 | −21.44 | 54.46 | turned to loss | |
| Tax | −3.50 | 0.25 | −0.76 | ||
| Net profit | −23.79 | −21.69 | 55.22 | turned to loss | |
| EPS (₹) | −0.44 | −0.40 | 1.03 | turned to loss |
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 Valor Estate's costs and profit?
Total expenses were ₹28.72 crore in Q2 FY27, up ₹12.11 crore from ₹16.61 crore in Q2 FY26. Finance costs rose by ₹18.54 crore to ₹25.37 crore, depreciation increased by ₹1.02 crore to ₹1.05 crore, and employee cost increased by ₹1 crore to ₹4.39 crore. Cost of materials fell by ₹247.49 crore to ₹1.26 crore, while other expenses were ₹2.09 crore lower than the year-ago quarter.
Other income was ₹1.43 crore in Q2 FY27, compared with negative other income of ₹4.48 crore in Q2 FY26, a difference of ₹5.91 crore. Tax was ₹3.50 crore in Q2 FY27 against ₹0.76 crore in Q2 FY26. There was no exceptional item in the quarter. The filing does not state why the year-on-year changes in costs, other income or tax occurred.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 1.26 | 248.75 | −247.49 | −99.5% |
| Employee cost | 4.39 | 3.39 | +1 | +29.5% |
| Finance costs | 25.37 | 6.83 | +18.54 | +271.4% |
| Depreciation | 1.05 | 0.03 | +1.02 | +3400.0% |
| Other expenses | −2.09 | 6.36 | −8.45 | |
| Total expenses | 28.72 | 16.61 | +12.11 | +72.9% |
| Other income | 1.43 | −4.48 | +5.91 | |
| Tax | −3.50 | −0.76 | −2.74 |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
For H1 FY27, Valor Estate reported standalone revenue of ₹0 crore, compared with ₹75.55 crore in H1 FY26. Total income was ₹3.72 crore, down ₹74.30 crore from ₹78.02 crore, while loss before tax was ₹48.73 crore against profit before tax of ₹49.02 crore in H1 FY26. The company reported a net loss of ₹45.48 crore, compared with net profit of ₹49.01 crore, and basic EPS was ₹0.84 compared with ₹0.91. The H1 figures are standalone.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 0 | 75.55 | |
| Profit before tax | −48.73 | 49.02 | turned to loss |
| Net profit | −45.48 | 49.01 | turned to loss |
| EPS (₹) | −0.84 | 0.91 |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
As of 30 September 2026, standalone total assets were ₹6,386.90 crore, compared with ₹5,780.24 crore as of 31 March 2026. Total equity was ₹4,628.80 crore against ₹4,678.61 crore, while borrowings were ₹698.97 crore against ₹116.00 crore. Cash and cash equivalents were ₹134.67 crore compared with ₹1.49 crore. Inventories were ₹350.65 crore against ₹348.13 crore, trade receivables were ₹15.55 crore in both periods, and trade payables were ₹10.14 crore against ₹10.18 crore.
H1 FY27 operating cash flow was ₹138.32 crore, compared with ₹420.47 crore in H1 FY26. Investing cash flow was negative ₹565.48 crore against negative ₹351.84 crore, while financing cash flow was ₹560.33 crore against negative ₹66.12 crore. Capital expenditure was ₹0.35 crore compared with ₹11.02 crore. The filing does not state a closing cash figure for either period.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 6,387 | 5,780 |
| Total equity | 4,629 | 4,679 |
| Borrowings | 698.97 | 116 |
| Cash and equivalents | 134.67 | 1.49 |
| Inventories | 350.65 | 348.13 |
| Trade receivables | 15.55 | 15.55 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | 138.32 | 420.47 |
| Cash from investing | −565.48 | −351.84 |
| Cash from financing | 560.33 | −66.12 |
| Capital expenditure | 0.35 | 11.02 |
Source: Company's results filing (XBRL).
How has Valor Estate done over the last 8 quarters?
The quarterly trend shows revenue peaking at ₹453.59 crore in Q3 FY26 and no reported revenue in Q1 FY27 and Q2 FY27. Profit turned positive at ₹115.80 crore in Q3 FY26, before losses of ₹77.31 crore in Q4 FY26, ₹21.69 crore in Q1 FY27 and ₹23.79 crore in Q2 FY27. The latest quarter therefore shows a higher loss than the preceding quarter.
The reported EBITDA margin was 87.1% in Q2 FY26 and 28.3% in Q3 FY26, with no margin figure available for the other listed quarters. Revenue was ₹0 crore in Q1 FY26, Q4 FY26, Q1 FY27 and Q2 FY27. The pattern in the available data shows revenue concentrated in Q2 FY26 and Q3 FY26, followed by no reported revenue and losses in the later quarters.
What did the auditors point out?
The statutory auditors stated that they had conducted a limited review under SRE 2410 and had not performed an audit. Nothing came to their attention that caused them to believe that the Statement had failed to disclose the information required under Regulation 33 of the SEBI LODR Regulations, 2015, or contained any material misstatement. Their conclusion was not modified in respect of the matters highlighted.
The auditors drew attention to Note 3, which says the Company relied on independent valuers and internal assessments based on management estimates, including assumptions regarding development potential, expected sales price realization and cost optimization. They also drew attention to Note 4, which described an uncertainty relating to the future outcome of pending litigations or regulatory actions; no further adjustments were made pending the ultimate outcome. The report did not indicate a going-concern qualification or a qualified opinion.
Quick answers
What was Valor Estate's revenue in Q2 FY27?
Revenue from operations was ₹0 crore, against ₹75.55 crore in Q2 FY26 (standalone).
Did Valor Estate make a profit in Q2 FY27?
No. It reported a net loss of ₹23.79 crore, against a net profit of ₹55.22 crore in Q2 FY26.
What was Valor Estate's EPS in Q2 FY27?
Basic loss per share was ₹0.44, against ₹1.03 in Q2 FY26.
When did Valor Estate announce its Q2 FY27 results?
On 5 November 2026, in a filing to the BSE.
Sources
- Board Meeting Intimation for The Consideration And Approval Of The Unaudited Standalone And Consolidated Financial Results For Second Quarter And Half Year Ended On 30Th September, 2026 (BSE, 2 November 2026) · PDF
- Board Meeting Outcome for Outcome Of The Board Meeting Held On 05.11.2026 (BSE, 5 November 2026) · PDF
- Unaudited Standalone And Consolidated Financial Results For The Second Quarter And Half Year Ended 30Th September, 2026 (BSE, 5 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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