Eldeco Housing & Industries Ltd

Financial Performance

• Total income Q1 FY27: INR 50.3 crores; EBITDA INR 18.7 crores; PAT INR 15.1 crores.
• EBITDA margin 37.1%; PAT margin 30.0%.
• Bookings Q1 FY27: INR 105.7 crores; area booked 1.26 lakh sq ft.
• Collections INR 131.2 crores; up 68% YoY.
• Construction spend INR 57.8 crores; +47.2% YoY.
• Homes delivered: 52; area 49,400 sq ft.
• Imperia Avenue launched; 44 units; booking value INR 14.6 crores.
• Faith Tower launched at Eldeco Trinity.
• Land expansion: contig >50 acres in Lucknow; approx 15 acres aggregated.
• Legacy inventory ~INR 75 crores; 40-60% to liquidate this year.
• Latitude 27: completion certificate targeted November 2027.
• Latitude 27: 15-20% GDV recognition between Mar–May 2027.
• Solano Gardens: 9.5 acres; 5-acre extension.
• Remainder inventory to liquidate this year; launches this year.
• Pipeline size: 3.4 million sq ft; majority to be launched FY27.
• New land parcel: 50-acre contracted; vertical/horizontal mix under discussion.
• FY27 booking value target: INR 745 crores.

Projects and Pipeline

• Imperia Avenue: 44 units; booking value INR 14.6 crores.
• Imperia Phase 2: approx INR 170-180 crores revenue recognition expected.
• 85% of Q1 FY27 revenue from Imperia Phase 2; margins ~60%.
• Latitude 27: completion certificate targeted November 2027.
• Latitude 27: 15-20% GDV recognition between Mar–May 2027.
• Solano Gardens: 9.5 acres; 5-acre extension.
• Remainder inventory to liquidate this year; launches this year.
• Pipeline size: 3.4 million sq ft; majority to be launched FY27.
• New land parcel: 50-acre contracted; vertical/horizontal mix under discussion.

Outlook and Guidance

• FY27 booking value guidance: INR 745 crores.
• FY28 onwards: pivotal change in trajectory; presales and sales growth expected.
• Capital-allocation options, including buybacks, under active consideration.

Q&A Highlights

• Question on Imperia Phase 2 revenue recognition timing; management expects 170–180 crores.
• 85% of Q1 FY27 revenue from Imperia Phase 2; margins ~60%.
• 75 crores legacy inventory; 40-60% liquidate this year.
• Latitude 27: 15-20% GDV recognition Mar–May 2027.
• 4 million sq ft pipeline; launch within FY27.
• FY27 booking value target: INR 745 crores.
• Open market buybacks and other capital-deployment options under active consideration.

Meeting Details

• Date and time: 13 August 2026, 4:00 p.m. IST
• Type and mode: group earnings conference call, audio/virtual
• Event/organiser: Eldeco Housing & Industries earnings call
• Purpose: discuss unaudited quarterly results for quarter ended June 30, 2026

Participants

• Key management participants not specified in filing

Availability

• Audio recording of the earnings call available on the company website

Business Overview

• EHIL develops residential townships and commercial projects in Lucknow and nearby markets.
• Strategic emphasis on land aggregation and construction-linked monetization.
• Q1FY27 launches included Imperia Avenue and Faith Tower.
• Aim is to grow through stronger cashflows and a larger development pipeline.

Key Operational Highlights

• Booking value in Q1FY27 was ₹105.7 crore and area booked 125,917 sq ft.
• Collections rose 68.2% YoY to ₹131.2 crore.
• Deliveries totaled 52 homes with 49,405 sq ft handed over.
• Construction spend was ₹57.8 crore, up 47.2% YoY.
• Launched Eldeco Imperia Avenue (44 units) and Faith Tower at Eldeco Trinity.
• Land contract for 50.3 acres strengthens long-term growth pipeline.
• Land aggregation reached 15.7 acres in Q1FY27.

Financial Performance

• Total income rose to ₹50.3 crore; EBITDA ₹18.7 crore.
• PAT stood at ₹15.1 crore; EBITDA margin 37.1%.
• YoY comparisons: revenue up 62.7%; EBITDA up 242.7%; PAT up 382%.
• Q1FY27 booked value ₹105.7 Cr; area booked 125,917 sq ft.
• Collections ₹131.2 Cr; deliveries 52 units; delivered area 49,405 sq ft.

Strategic Priorities & Outlook

• Outlook: sustain execution momentum and accelerate collections via construction-linked monetization.
• Advance forthcoming projects toward launch readiness and monetize land parcels.
• Visible development pipeline and monetization opportunities support long-term value.
• Maintain balance-sheet prudence for sustainable growth.

Governance & Leadership

• Mr. Pankaj Bajaj is Chairman and Managing Director.
• Mr. Manish Jaiswal is Group CEO.
• Mr. Rajiv Khurrana is Group VP Accounts and Taxation.
• Mr. SK Jaggi serves as EHIL COO.

Key board actions

• Unaudited standalone and consolidated quarterly results for quarter ended 30 June 2026 approved.
• Publication in newspapers and results on company website as per SEBI LODR Regulation 47.
• Directors' Report for FY ended 31 March 2026; AGM scheduled 23 September 2026.
• AGM to be held via video conferencing/OVM.
• Cost Auditor appointed: M/s Paliwal & Associates for FY 2026-27; appointment date 12 Aug 2026.
• Annexure-A disclosures under SEBI LODR enclosed.
• Group operations reported as a single reportable segment: Real Estate.
• Auditors' review concluded no material misstatement in standalone and consolidated results.

Meeting Details

• Date and time: 13 August 2026, 4:00 PM IST.
• Type and mode: group earnings call, virtual.
• Event: Earnings Conference Call for Q1 FY27.

Participants

• CMD
• Group CEO
• Group Vice-President (Accounts & Taxation)

Purpose

• Discuss Q1 FY27 results and investor interaction.

Dematerialisation processing status

• Securities dematerialised have been listed on the stock exchanges where the earlier issued securities are listed.
• Physical certificates for dematerialisation were mutilated and cancelled; depository name substituted as registered owner within 15 days.

FY26 performance

• FY26 booking value rose 120% year-on-year to INR744 crore.
• FY26 area booked exceeded 10.77 lakh square feet, up over 100%.
• FY26 collections increased 39% year-on-year to INR352.1 crore.
• FY26 total income was INR175.7 crore; EBITDA INR41.5 crore; PAT INR24.3 crore.

Pipeline and launches

• Added nearly INR2,000 crore GDV through three Lucknow land parcels.
• Total pipeline, including ongoing and forthcoming projects, is about INR4,000 crore GDV.
• Two land parcels were won in local authority auctions, lowering risk and speeding monetization.
• Solano Gardens sold 343 of 433 launched units, booking over INR384 crore.
• Management expects major launches toward the end of FY27 after approvals and RERA.

Margins and execution

• Solano Gardens weighted average margin is expected at 35% to 40%.
• Plotted development margins were said to be around 50% to 60%.
• Management expects FY27 EBITDA margin around 30% to 35%.
• Management guided FY27 PAT margin around 25%, driven by Imperia 2.
• Construction spend in FY26 was INR177.7 crore, up 14% year-on-year.
• FY27 construction spend is expected to rise 15% to 20% to about INR200 crore.

Q&A Highlights

• Analysts asked about Imperia 2 revenue recognition; management said about INR130-150 crore may be recognized next year.
• Analysts asked why Q4 margins fell; management cited about INR11 crore GST input write-off and other one-time expenses.
• Analysts asked about revenue versus deliveries; management said revenue is recognized when control passes on possession.
• Analysts asked about Latitude 27 handover timing; management said official guidance remains November 2027, but earlier delivery is possible.
• Analysts asked about demand sensitivity to rates and geopolitics; management said Lucknow demand is organic and largely insulated.
• Analysts asked about project mix; management said it is balancing high-margin plotted/villa projects with faster-launch group housing.
• Analysts asked about FY27 bookings and launches; management said big launches are likely after approvals, later this financial year.
• Analysts asked about the UP urban development policy; management said it should improve approvals, FAR norms, and project predictability.