Real Estate: Q1 FY27 results (April-June 2026)

8 companies have declared Real Estate Q1 FY27 results so far, the latest on 6 Oct 2026.

Across the 5 non-financial companies with a year-ago quarter to compare, sales grew +36.7% and net profit -10.7% year on year, and the combined operating margin narrowed 268 bps to 12.5%.

60% of companies grew net profit; 0% beat their own profit trend and 100% fell short of it.

Updated 12 Oct 2026, 12:20 IST 8 declared 111 due in the next 3 days →

Real Estate Q1 FY27 scoreboard

Sales growth
+36.7%
YoY, 5 companies combined; median +40.7%
Net profit growth
-10.7%
YoY combined; median +3.9%
Operating margin
12.5%
-268 bps YoY
Grew profit
60%
0 turnarounds, 0 into loss
Vs own profit trend
0% / 100%
above / below, 0% in line
Price since results
-4.6%
median; 38% of 8 stocks up
Other-income heavy
1
25%+ of pre-tax profit from other income & one-offs

Latest Real Estate Q1 FY27 results 8

Veegaland Developers Limited

VEEGALAND · Real Estate · Q1 FY27 · Standalone · Filed
M Cap
₹452 Cr
P/E
—
PEG
—
Since results
-9.1%
₹ CrYoYQoQ Jun 2026Mar 2026Jun 2025
Sales —— 74.3——
Operating profit —— 13.0——
OPM % —— 17.5%——
Other income —— 1.3——
Net profit —— 9.7——
PAT margin % —— 13.1%——
EPS (₹) —— 2.88——

Quality of profit

Core 90%Other income & one-offs 10%

Pre-tax profit ₹13.0 Cr: core business ₹11.7 Cr, other income ₹1.3 Cr.

Core profit YoY: —

AI read of the filing Q1 FY27 Net Profit Jumps 203% YoY to ₹9.72 Cr as Revenue Reaches ₹74.32 Cr Post-IPO Positive
  • Revenue from operations grew 79.1% YoY to ₹7,432.18 lakhs vs ₹4,150.16 lakhs in Q1 FY26
  • Net profit surged 202.6% YoY to ₹972.32 lakhs compared to ₹321.32 lakhs in Q1 FY26
  • Profit before tax stood at ₹1,298.90 lakhs vs ₹429.27 lakhs in the previous year's quarter
Full analysis →

Pranav Constructions Limited

PRANAV · Real Estate · Q1 FY27 · Consolidated · Filed
M Cap
₹857 Cr
P/E
—
PEG
—
Since results
+1.4%
₹ CrYoYQoQ Jun 2026Mar 2026Jun 2025
Sales —— 165——
Operating profit —— 29.3——
OPM % —— 17.8%——
Other income —— 0.4——
Net profit —— 14.4——
PAT margin % —— 8.7%——
EPS (₹) —— 1.65——

Quality of profit

Core 98%Other income & one-offs 2%

Pre-tax profit ₹18.5 Cr: core business ₹18.1 Cr, other income ₹0.4 Cr.

Core profit YoY: —

AI read of the filing Pranav Constructions Reports Standalone Q1 Revenue of ₹1,421.60 Mn; Post-IPO Filing Neutral
  • Standalone revenue from operations for Q1 ended June 30, 2026 stood at ₹1,421.60 million
  • Profit for the period (standalone PAT) was ₹98.71 million, with Basic EPS at ₹1.13
  • Completed IPO aggregating ₹3,510.30 million with a fresh issue component of ₹3,156.00 million at ₹124 per share
Full analysis →

Horizon Industrial Parks Limited

HORIZONIND · Real Estate · Q1 FY27 · Consolidated · Filed
M Cap
₹14,141 Cr
P/E
—
PEG
—
Since results
-11.9%
₹ CrYoYQoQ Jun 2026Mar 2026Jun 2025
Sales —— 201——
Operating profit —— 161——
OPM % —— 80.3%——
Other income —— 40.0——
Net profit —— -11.6——
PAT margin % —— -5.8%——
EPS (₹) —— -0.04——

Quality of profit

Pre-tax profit −₹6.9 Cr: core business −₹46.9 Cr, other income ₹40.0 Cr.

Core profit YoY: —

AI read of the filing Horizon Industrial Parks Q1 FY27 Standalone PAT at ₹634.83M; Lists After ₹26,000M IPO Positive
  • Standalone Total Income for Q1 reached ₹1,191.43 million vs ₹492.14 million in Q1 FY26
  • Standalone Profit After Tax stood at ₹634.83 million, swinging from a loss of ₹115.78 million in Q1 FY26
  • Completed an IPO raising ₹26,000.00 million, listing on NSE and BSE on August 24, 2026
Full analysis →

Raymond Realty Limited

RAYMONDREL · Real Estate · Q1 FY27 · Consolidated · Filed
M Cap
₹4,647 Cr
P/E
15.4
PEG
—
Since results
-0.0%
  • Operating margin expanded 529 bps YoY
  • 60% of pre-tax profit came from other income and one-off items
  • Core business grew faster than reported profit (core profit +56%)
₹ CrYoYQoQ Jun 2026Mar 2026Jun 2025
Sales +40.7%-54.5% 5271,157374
Operating profit +158.3%-73.9% 61.223423.7
OPM % +529 bps-861 bps 11.6%20.2%6.3%
Other income -48.4%-52.4% 9.019.017.5
Net profit -18.6%-91.7% 13.416116.5
PAT margin % -186 bps-1137 bps 2.5%13.9%4.4%
EPS (₹) -18.5%-91.7% 2.0224.202.48

Quality of profit

Core 40%Other income & one-offs 60%

Pre-tax profit ₹15.2 Cr: core business ₹6.1 Cr, other income ₹9.0 Cr.

Core profit YoY: +55.6% · reported profit -18.6%

AI read of the filing Q1 FY27 Results: Revenue up 38% to ₹527 Cr; EBITDA grows 70% on JDA momentum Positive
  • Revenue from operations increased 38.4% YoY to ₹526.67 Cr in Q1 FY27
  • EBITDA rose 70% YoY to ₹70 Cr, with management targeting a 17-19% margin profile for FY27
  • Total portfolio GDV reached ₹52,000 Cr, including a JDA portfolio potential of ₹27,000 Cr
Full analysis →

Modis Navnirman Limited

MODIS · Real Estate · Q1 FY27 · Consolidated · Filed
M Cap
₹780 Cr
P/E
20.7
PEG
—
Since results
+2.4%
  • Operating margin contracted 296 bps YoY
₹ CrYoYQoQ Jun 2026Mar 2026Jun 2025
Sales +27.9%+13.1% 58.351.545.5
Operating profit +10.8%+134.0% 11.24.810.1
OPM % -296 bps+989 bps 19.2%9.3%22.1%
Other income +280.2%-82.3% 0.52.80.1
Net profit +26.4%+94.8% 8.64.46.8
PAT margin % -18 bps+617 bps 14.7%8.6%14.9%
EPS (₹) +25.6%+93.8% 4.362.253.47

Quality of profit

Core 96%Other income & one-offs 4%

Pre-tax profit ₹11.5 Cr: core business ₹11.0 Cr, other income ₹0.5 Cr.

Core profit YoY: +9.6% · reported profit +26.4%

AI read of the filing Modis Navnirman Q1 FY27: Net Profit Rises 26% YoY to ₹8.58 Cr Positive
  • Consolidated Net Profit grew 26.4% YoY to ₹8.58 Cr from ₹6.79 Cr in Q1 FY26
  • Revenue from operations rose 27.9% YoY to ₹58.26 Cr compared to ₹45.54 Cr in the year-ago period
  • Standalone EBITDA stood at ₹11.68 Cr, representing a 14.5% increase over Q1 FY26
Full analysis →

Kalpataru Limited

KALPATARU · Real Estate · Q1 FY27 · Consolidated · Filed
M Cap
₹5,373 Cr
P/E
52.3
PEG
—
Since results
-14.7%
  • Operating margin contracted 354 bps YoY
₹ CrYoYQoQ Jun 2026Mar 2026Jun 2025
Sales +6.5%-72.1% 4721,694443
Operating profit loss widenedto loss -45.9217-27.3
OPM % -354 bps-2255 bps -9.7%12.8%-6.2%
Other income +68.2%-34.7% 22.835.013.6
Net profit loss narrowedto loss -29.0194-51.8
PAT margin % +555 bps-1760 bps -6.1%11.4%-11.7%
EPS (₹) loss narrowedto loss -1.2910.19-2.92

Quality of profit

Pre-tax profit −₹35.0 Cr: core business −₹76.6 Cr, other income ₹22.8 Cr, exceptional & other items ₹18.7 Cr.

Core profit YoY: loss widened

AI read of the filing Rs 2.59 Cr Net Loss in Q1 FY27; Kalpataru Revenue Drops Sequentially to Rs 46.85 Cr Negative
  • Consolidated net loss of Rs 2.59 Cr in Q1 FY27 compared to a profit of Rs 193.87 Cr in Q4 FY26.
  • Revenue from operations stood at Rs 46.85 Cr, a sequential decline from Rs 58.07 Cr in the previous quarter.
  • Subsidiary Kalpataru Properties Limited issued Rs 1,635 Cr of secured NCDs, listed on May 25, 2026.
Full analysis →

Sri Lotus Developers and Realty Limited

LOTUSDEV · Real Estate · Q1 FY27 · Consolidated · Filed
M Cap
₹11,717 Cr
P/E
44.6
PEG
—
Since results
+18.4%
  • Operating margin contracted 1167 bps YoY
₹ CrYoYQoQ Jun 2026Mar 2026Jun 2025
Sales +115.8%-57.0% 13230761.3
Operating profit +63.4%-60.3% 48.112129.5
OPM % -1167 bps-307 bps 36.4%39.4%48.0%
Other income +101.5%-6.1% 13.614.56.8
Net profit +77.3%-54.7% 45.710125.8
PAT margin % -751 bps+173 bps 34.5%32.8%42.1%
EPS (₹) +57.6%-52.6% 0.931.960.59

Quality of profit

Core 78%Other income & one-offs 22%

Pre-tax profit ₹60.9 Cr: core business ₹47.3 Cr, other income ₹13.6 Cr.

Core profit YoY: +65.5% · reported profit +77.3%

AI read of the filing Q1 FY27 Net Profit at ₹45.72 Cr, Revenue grows 116% YoY Positive
  • Revenue from operations grew 116% YoY to ₹132.35 Cr from ₹61.32 Cr.
  • Net profit increased 77% YoY to ₹45.72 Cr compared to ₹25.79 Cr in the previous year's quarter.
  • Granted 48,92,722 stock options to employees at an exercise price of ₹75 per share.
Full analysis →

GANESH HOUSING LIMITED

GANESHHOU · Real Estate · Q1 FY27 · Consolidated · Filed
M Cap
₹5,833 Cr
P/E
22.0
PEG
—
Since results
-13.2%
  • Profit -14% below its own trend
  • Operating margin contracted 4559 bps YoY
₹ CrYoYQoQ Jun 2026Mar 2026Jun 2025
Sales +85.6%+194.7% 28095.0151
Operating profit -14.2%+52.5% 11072.0128
OPM % -4559 bps-3657 bps 39.2%75.8%84.8%
Other income +64.2%-99.1% 0.327.00.2
Net profit -54.9%-31.2% 42.061.093.1
PAT margin % -4672 bps-4922 bps 15.0%64.2%61.7%
EPS (₹) -54.9%-31.7% 5.037.3611.16

Quality of profit

Core 100%Other income & one-offs 0%

Pre-tax profit ₹105 Cr: core business ₹105 Cr, other income ₹0.3 Cr.

Core profit YoY: -16.6% · reported profit -54.9%

Against its own trend ?

TrendActualGap
Sales₹81.6₹280 +243.1% above
Net profit₹48.9₹42.0 -14.3% below
AI read of the filing Ganesh Housing Q1 FY27 Revenue Jumps 85% YoY to ₹279.93 Cr; PAT at ₹81.36 Cr Positive
  • Consolidated Revenue from Operations reached ₹279.93 Cr, up 85.6% from ₹150.81 Cr in Q1 FY26.
  • Consolidated Net Profit stood at ₹81.36 Cr, representing a 32.6% sequential growth from ₹61.36 Cr in Q4 FY26.
  • Total expenses rose to ₹175.33 Cr, driven by a significant inventory adjustment of ₹135.07 Cr.
Full analysis →

Standouts so far

Biggest profit growth

  1. Sri Lotus+77.3%
  2. Raymond Realty-18.6%
  3. GANESH HOUSING-54.9%

Biggest profit declines

  1. GANESH HOUSING-54.9%
  2. Raymond Realty-18.6%
  3. Sri Lotus+77.3%

Best price reaction

  1. Sri Lotus+18.4%
  2. Raymond Realty-0.0%
  3. Horizon Industrial-11.9%
  4. GANESH HOUSING-13.2%
  5. Kalpataru-14.7%

Worst price reaction

  1. Kalpataru-14.7%
  2. GANESH HOUSING-13.2%
  3. Horizon Industrial-11.9%
  4. Raymond Realty-0.0%
  5. Sri Lotus+18.4%

Among companies with a market cap of ₹1,000 Cr or more, so a tiny base does not top the list. Price reaction: last close against the close before the filing.

Reporting in the next three days

HCL Technologies (Mon 12 Oct), ICICI Prudential (Mon 12 Oct), RBL Bank (Mon 12 Oct), Swan Defence (Mon 12 Oct), Gujarat State (Mon 12 Oct), Swaraj Engines (Mon 12 Oct), Plastiblends India (Mon 12 Oct), UMIYA BUILDCON (Mon 12 Oct), Alkali Metals (Mon 12 Oct), Gradiente Infotainment (Mon 12 Oct), Agri-Tech (India) (Mon 12 Oct), Abhishek Integrations (Mon 12 Oct), Rudra Ecovation (Mon 12 Oct), Newtrac Foods (Mon 12 Oct), Inani Securities (Mon 12 Oct), Neil Industries (Mon 12 Oct), Adroit Industries (Mon 12 Oct), TYPHOON (Mon 12 Oct), UNIVARTS (Mon 12 Oct), VERONICAPRO (Mon 12 Oct), ICICI Prudential (Tue 13 Oct), Tata Elxsi (Tue 13 Oct), Transformers And Rectifiers (Tue 13 Oct), Anand Rathi (Tue 13 Oct) and 87 more. Full results calendar →

How to read this page

The numbers. Each card is one company's Q1 FY27 results as filed with NSE or BSE, read from the filing within hours of its release, in ₹ crore. We show the consolidated statement, or the standalone one when the consolidated figures are a copy of it or have no year-ago quarter to compare with. YoY compares with the same quarter a year earlier and QoQ with the quarter before (the previous half-year for companies that report every six months). A swing between profit and loss is described in words: a percentage across it would mislead.

Margins. Operating margin (OPM) is operating profit, before depreciation, interest and other income, as a share of sales; PAT margin is net profit as a share of sales. Their changes are in basis points (100 bps = 1 percentage point).

Quality of profit. Core profit is operating profit minus interest and depreciation: what the business itself earned before tax. The rest of pre-tax profit is other income (interest on cash, dividends, gains on investments) and exceptional or one-off items. We flag a quarter when that share is 25% or more, and when reported profit grew much faster than core profit. For banks we compare pre-provision profit with net profit, since a fall in provisions can lift profit without the business growing.

Against its own trend. We do not have analyst consensus estimates, and we do not make them up. Instead each company is measured against the path it was on: the same quarter last year, grown at the median of its last four year-on-year growth rates (held between −50% and +100%; at least two growth rates needed). Sales 5% or more above that, or net profit 10% or more above, is "above trend"; as far below is "below trend". It answers "was this quarter better or worse than the company's own recent run?", which consensus does not.

Cash and debt. Profit is an accounting figure; cash is harder to dress up. For each company we show its operating cash flow for the last financial year as a share of that year's net profit (flagged under 50%, or when it is negative despite a profit), and its borrowings at the latest balance sheet against the one six months earlier (flagged at a 25% move). Balance sheets come with the September and March results, cash-flow statements with the March results.

Price since results. The latest close against the last close before the filing (a filing after 3:30 pm counts from the next session). It is a fact about the market's reaction, not advice.

Market cap groups. Large cap is the 100 largest companies by market value and mid cap the next 150 (SEBI's ranking); below that, small cap is ₹5,000 Cr or more, micro cap ₹500 Cr or more, nano cap below.

⚠️ How this site is made: Market data pages are computed automatically from NSE/BSE publications and company filings; news articles and announcement analyses are written with AI assistance, with a human in the loop: our editors review what the AI produces. Both can contain errors. Verify with the original sources before any investment decision. Not investment advice; Flash Finance is not SEBI-registered. How we use AI