Arkade Developers Ltd

OC receipt for Vile Parle project

• OC received for Arkade's residential project at Vile Parle on 24 August 2026.
• Project completed per approved plans and local building regulations.

Western Mumbai redevelopment expansion

• Added four cluster redevelopment projects across Malad West, Kandivali West, Kandivali East, and Borivali West.
• Aggregate turnover potential around ₹5,000 crore across the four projects.
• Total saleable carpet area about 15 lakh sq ft across all projects.
• Largest redevelopment Yogi Nagar, Borivali West, offers 9 lakh sq ft carpet area and ₹3,000 crore GDV.
• Malad West redevelopment: 2.5 lakh sq ft carpet area and ₹900 crore turnover.
• Total construction area across projects ~51 lakh sq ft.
• OC milestone at Arkade Eden Malad West achieved nine months ahead of RERA.

Financial Performance

• Revenue from operations: Rs 147 crores in 1Q FY27
• Gross margin: 29.1% in the quarter
• EBITDA: Rs 28 crores; EBITDA margin: 18.9%
• Net profit: Rs 19 crores; PAT margin: 13%
• Pre-sales: Rs 155 crores, up 9% YoY
• Collections: Rs 164 crores
• Employee base: 213 to 277 (as of June 26)
• Net debt: Rs 5 crores; net debt/equity: 0.01x
• Unsold inventory: ~Rs 700 crores
• Development pipeline: GDV Rs 12,800 crores; saleable area 4.2 million sq ft
• Projects with GDV to launch in FY27: ~Rs 3,000 crores

Operations & Market

• Mumbai residential market remains attractive; redevelopment is a long-term growth driver
• Pipeline visibility: GDV Rs 12,800 crores across ~4.2 million sq ft
• FY27 launches planned: ~Rs 3,000 crores
• Malad redevelopment topline: ~Rs 750 crores; Thane topline: ~Rs 2,000 crores
• Santa Cruz project launched last quarter
• Arkade Finroot and Assist360 initiatives enhance home ownership experience

Balance Sheet & Cash Flow

• Net debt: Rs 5 crores; net debt/equity: 0.01x (as of Jun 30, 2026)
• Conservative balance sheet provides flexibility for opportunities
• Collections: Rs 164 crores; EBITDA margin guidance: 25-26% for the year
• Cash flow outlook: operating cash flow guidance not provided beyond PAT relation
• Strong balance sheet supports disciplined capital allocation

Projects & Capex

• Development pipeline: GDV Rs 12,800 crores; saleable area 4.2 million sq ft
• FY27 launches: ~Rs 3,000 crores; ~Rs 500 crores pre-sales from launches
• Ongoing projects: ~Rs 700 crores unsold; ~Rs 500 crores pre-sales projected from ongoing
• Next-year pipeline: Filmistan plus two more projects planned
• IRR target: ~20% or higher on new opportunities

Outlook & Guidance

• FY27 launches: ~Rs 3,000 crores; ~Rs 500 crores pre-sales from launches
• Ongoing pre-sales target: ~Rs 500 crores; total launches ~Rs 3,000 crores
• FY28 aim: >Rs 5,000 crores launches
• EBITDA margin guide: 25-26% for the year
• Redevelopment growth driven by land scarcity; larger cluster projects expected
• IRR target: 20%+ on new opportunities

Q&A Highlights

• Launch pipeline is at various stages; near-term visibility ~Rs 12,800 crores; unsold ~Rs 1,000 crores
• Anand Nagar timeline: FY29 launch due to height restrictions; wireless-station shift expected FY27; approvals FY28
• Q3-Q4: pre-sales momentum; last quarter up ~9-10%; no slowdown evident
• Construction-cost inflation absorbed via higher residential unit rates
• Financing: may use construction finance if required; outright projects already funded; net debt ~Rs 5 crores
• Ticket-size strategy: South Mumbai land costs ~50% of GDV; outer northern suburbs ~15-20%

Meeting Details

• Date: August 12, 2026.
• Type: Group investor meet with analysts to discuss unaudited results for quarter ended June 30, 2026.
• Mode: not specified.
• Organizer: Arkade Developers Ltd.

Participants

• Key company participants: Chairman & Managing Director and other company representatives.

Purpose

• Purpose: discuss unaudited financial results for the quarter ended June 30, 2026.

Additional Notes

• Audio recording of the earnings call is available.
• Intimation available on company website.
• Public information shared; no UPSI disclosed.

Business Overview

• Mumbai-focused real estate developer focusing on redevelopment and greenfield projects in MMR.
• In-house development platform enables land, planning, construction, sales, collections, and after-sales services.
• GDV INR 128 bn across 4.25 mn sq ft saleable area; 30 bn launches planned in FY27.
• Net debt INR 50 mn; net debt-to-equity 0.01x as at Jun 30, 2026.
• Ongoing GDV INR 23 bn; 12 upcoming GDV INR 128 bn.
• Delivered 5,500+ homes; 5.5 mn sq ft completed across 32 projects.

Operational Highlights

• Q1 FY27 pre-sales rose 9% to INR 1,551 mn.
• Collections flat at INR 1,640 mn vs INR 1,700 mn prior year.
• Gross margin remained at 29%.
• Profitability moderated due to lower other income and higher employee costs.
• Employee base grew from 213 to 277 employees.
• GDV pipeline 128 bn supports visibility for growth.
• Land acquisitions across key MMR micro-markets.
• Expansion of Arkade Finroof and Assist 360 offerings.
• Timely project execution across ongoing developments.

Financial Performance

• Q1 FY27 revenue from operations INR 1,470 mn; YoY -7.8%.
• EBITDA INR 278 mn; margin 18.91%.
• PBT INR 261 mn; taxes INR 70 mn.
• PAT INR 191 mn; PAT margin 12.99%.
• Net debt INR 50 mn; net debt-to-equity 0.01x.

Capital Structure & Liquidity

• FY26 operating cashflow INR 3,319 mn.
• IPO and listing completed; Issuer Rating IND-RA BBB+.

Strategic Priorities & Outlook

• GDV INR 128 bn pipeline; ~INR 30 bn launches planned in FY27.
• Expansion into Eastern Corridor; commercial verticals to generate annuity income.
• Strong operational efficiency and capability building to support long-term growth.
• Healthy balance sheet enabling capitalizing redevelopment opportunities.

Risks & Mitigation

• Profitability moderated due to lower other income and higher employee costs; efficiency focus.

Governance & Leadership

• Amit Mangilal Jain (Chairman & MD) leads Arkade; Arpit Jain (WTD) key driver.
• Independent Directors Sumesh Mishra, Neha Huddar, Abhishek Dev on board.
• Issuer rating IND-RA BBB+.

Financial highlights

• Total revenue ₹149 crore; gross margin 29%.
• Operating EBITDA ₹28 crore; EBITDA margin 19%.
• Net profit ₹19 crore.
• Pre-sales ₹155 crore; up 9% year-on-year.
• Collections ₹164 crore; flat vs Q1 FY26.

Balance sheet & leverage

• Net debt ₹5 crore; net debt-to-equity 0.01.

Pipeline & growth drivers

• GDV ₹12,800 crore across 4.25 million sq ft saleable area.
• Strategic land acquisitions across Mumbai Metropolitan Region.
• Arkade Finroof and Assist 360 expanding homeownership ecosystem.

Standalone results

• Revenue from operations: ₹14,697.04 lakhs for Q1 June 2026.
• Total income: ₹14,866.63 lakhs.
• Profit before tax: ₹2,624.04 lakhs.
• Tax expense: ₹702.69 lakhs.
• Profit after tax: ₹1,921.35 lakhs.
• EPS: ₹1.03 (basic and diluted).
• Impairment: Filmistan Private Limited investment ₹18,217.09 lakhs.
• Operating segment: Real Estate Development; no reportable segments.
• Auditor's review: unmodified; Emphasis on ongoing investigation.

Consolidated results

• Revenue from operations: ₹14,697.04 lakhs; Total income: ₹14,867.62 lakhs.
• Profit before tax: ₹2,610.66 lakhs.
• Tax expense: ₹702.69 lakhs.
• Profit after tax: ₹1,907.83 lakhs.
• EPS: ₹1.03 (basic and diluted).
• Exceptional item: diminution in tenancy rights ₹2,610.52 lakhs.
• Operating segment: Real Estate Development; no reportable segments.
• Auditor’s review: unmodified; Emphasis on ongoing investigation.

Key notes & risks

• Ongoing investigation into alleged misconduct; FIR registered; outcome not yet determined.
• FY25-26 impairment of Filmistan investment ₹18,217.09 lakhs noted as exceptional item.
• Filmistan demerger: rental business transferred to Arkade; impact reflected in notes.

Meeting Details

• Board meeting scheduled for Tuesday, August 11, 2026; time and venue not disclosed.

Key Agenda Items

• Consider unaudited standalone and consolidated financial results for Q1 ended June 30, 2026, with Limited Review Report.

Other Notes

• Trading window closed from July 01, 2026, until 48 hours after results are declared.