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Alpine Housing Development Corporation Ltd (526519)

📊 BSE: 526519 🏢 Residential, Commercial Projects 📢 Latest filing: 30 Sep 2026 📝 Analysis written: 13 Nov 2025

Latest quarterly results (Q1 FY27)

In its latest reported quarter, Q1 FY27, Alpine Housing's revenue was ₹16.8 Cr (-3.2% year on year, -20.0% on the previous quarter), and net profit ₹1.9 Cr (+260.4% year on year); the operating margin was 18.2%.

Q1 FY27 (₹ Cr)	Value	YoY vs Q1 FY26	QoQ
Revenue	₹16.8	-3.2%	-20.0%
Operating profit	₹3.0	+142.0%	-34.1%
Net profit	₹1.9	+260.4%	-25.7%
EPS (₹)	1.12	+261.3%	-25.8%
Operating margin	18.2%	—	—

Full quarterly financials → Results calendar →

📢 Recent Corporate Announcements

Alpine Housing Shareholders Approve All 5 AGM Resolutions With Over 99% Majority

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 30 Sep 2026, 07:25 PM

Alpine Housing Development Corporation announced the voting results of its 33rd Annual General Meeting held on September 29, 2026. Shareholders approved all 5 resolutions, including the adoption of FY26 financial statements, re-appointment of director Syed Mohamed Mohsin, related party transactions, and borrowing and asset charge limits under Section 180 of the Companies Act. A total of 4,831,777 votes were polled across resolutions, representing 27.89% of outstanding shares. For the related party transactions resolution, promoters abstained and public non-institutional shareholders approved it with 99.95% majority.

All 5 resolutions passed with over 99.9% votes cast in favor
Overall voter turnout was 27.89% with 4,831,777 total votes polled out of 17,321,898 outstanding shares
Promoter group cast 4,779,259 votes (37.35% of promoter shares polled) on non-interested resolutions
Special resolution for Related Party Transactions passed with 52,491 votes in favor (99.95% of polled votes)
Total shareholder count stood at 4,066 as of the record date on September 22, 2026

💡 Track subsequent quarterly financial disclosures and statutory disclosures for any incremental debt raised under the approved Section 180 borrowing limits.

Alpine Housing Schedules Board Meeting on Sep 1, 2026 to Approve 33rd AGM

🟡 NEUTRAL ⭐ 2/10

BOARD_MEETING 📅 22 Aug 2026, 12:29 PM

Alpine Housing Development Corporation Ltd has scheduled a meeting of its Board of Directors on September 1, 2026. The meeting will primarily consider and approve the convening of the company's 33rd Annual General Meeting (AGM). In addition, the Board will consider the appointment of Mr. Ashok Kumar Tripathy, Practicing Company Secretary, as the scrutinizer for e-voting at the AGM. This is a routine administrative compliance filing with no operational or financial impact.

Board meeting scheduled for Tuesday, September 1, 2026, at 3:30 PM
Meeting agenda includes approval for convening the 33rd Annual General Meeting
Proposal to appoint Mr. Ashok Kumar Tripathy as scrutinizer for AGM e-voting
Meeting to be held at the registered office in Bengaluru

💡 Track the outcome of the Board meeting and subsequent AGM notice for details on AGM date, book closure, and any resolutions proposed to shareholders.

Alpine Housing Q1 Net Profit Jumps 261% to ₹1.95 Cr; Margins Expand to 15.8%

🟢 POSITIVE ⭐ 7/10

EARNINGS 📅 13 Aug 2026, 05:47 PM

Alpine Housing Development Corporation reported a strong start to FY27 with net profit surging to ₹1.95 Cr from ₹0.54 Cr in the same quarter last year, despite a 3.3% dip in total income to ₹16.76 Cr. The growth was primarily driven by a massive expansion in operating margins, which rose from 2.72% to 15.79% YoY. While the core construction segment saw a 35% revenue decline, the manufacturing division doubled its revenue to ₹8.08 Cr, significantly supporting the bottom line. The company's debt increased to ₹17.18 Cr, but the debt-to-equity ratio remains conservative at 0.19.

Net profit grew by 261% YoY to ₹1.95 Cr in Q1 FY27.
Operating margins expanded significantly to 15.79% from 2.72% in the year-ago period.
Manufacturing division revenue increased 107% YoY to ₹8.08 Cr.
Construction segment revenue declined 35% YoY to ₹8.68 Cr.
Total debt rose to ₹17.18 Cr from ₹11.35 Cr in June 2025.

💡 Investors should monitor the sustainability of the high operating margins and the growth trajectory of the manufacturing division, which is currently offsetting the slowdown in the construction segment. Watch for updates on new project launches in the Bangalore market.

261% YoY PAT Growth in Q1 FY27 Driven by Sharp Margin Expansion to 15.8%

🟢 POSITIVE ⭐ 7/10

EARNINGS 📅 13 Aug 2026, 05:36 PM

Alpine Housing reported a significant jump in net profit to ₹1.95 Cr for Q1 FY27, compared to ₹0.54 Cr in the same quarter last year, despite a marginal 3.3% decline in total income to ₹16.76 Cr. The profit surge was primarily driven by a massive expansion in operating margins, which rose from 2.72% to 15.79% YoY. Segmentally, the Manufacturing division saw a robust 107% revenue growth to ₹8.08 Cr, offsetting a 35% decline in the Construction unit. The company maintains a healthy balance sheet with a debt-to-equity ratio of 0.19.

Net profit increased by 261% YoY to ₹1.95 Cr from ₹0.54 Cr in Q1 FY26
Operating margins expanded significantly to 15.79% from 2.72% in the year-ago period
Manufacturing division revenue grew 107.7% YoY to ₹8.08 Cr, now contributing nearly 50% of total revenue
Construction segment revenue declined 35.4% YoY to ₹8.68 Cr from ₹13.44 Cr
Debt-to-equity ratio remains conservative at 0.19, although total debt increased to ₹17.18 Cr from ₹11.35 Cr YoY

💡 Investors should monitor if the manufacturing segment's high-margin performance is sustainable and watch for a recovery in construction segment revenue in the coming quarters.

Aug 13 Board Meeting to Approve Q1 FY27 Financial Results

🟡 NEUTRAL ⭐ 3/10

BOARD_MEETING 📅 03 Aug 2026, 06:18 PM

Alpine Housing Development Corporation has scheduled a board meeting on August 13, 2026, to consider and approve its unaudited financial results for the quarter ended June 30, 2026. This follows a fiscal year (FY26) where the company reported a revenue of ‡75.78 Cr and a net profit of ‡6.01 Cr. The market will be watching to see if the company can sustain its Q4 FY26 performance, which saw an EPS of ‡1.51. The trading window for insiders remains closed until August 15, 2026.

Board meeting scheduled for August 13, 2026, at 3:30 p.m. at the Bangalore registered office.
The meeting will primarily focus on approving unaudited financial results for the quarter ended June 30, 2026.
Trading window for equity shares is closed from July 1, 2026, to August 15, 2026.
Company reported a TTM revenue of ‡76 Cr and a TTM PAT of ‡6 Cr leading up to this period.
Promoter holding remains stable at 73.86% as of the last reporting cycle.

💡 Monitor the financial results on August 13 to evaluate if the company maintains its operating profit margin, which stood at 14.2% for the trailing twelve months.

₹500 Cr Revenue Share Expected from 13-Acre Bangalore Project Development

🟢 POSITIVE ⭐ 9/10

EXPANSION 📅 23 Jul 2026, 02:58 PM

Alpine Housing Development Corporation has reached a key milestone in its 13-acre joint development project with Bhartiya Urban Pvt Ltd, receiving a BDA demand notice for plan approval fees. The company expects a net revenue share of approximately ₹500 crores from this project, to be realized over a 4-5 year period. This projected revenue is highly material, representing approximately 6.5 times the company's current TTM revenue of ₹76 crores. A formal project launch is anticipated within 1-2 months following the receipt of RERA approval.

Expected net revenue share of approximately ₹500 crores for the company
Project realization period estimated at 4 to 5 years
Development involves a land parcel of 13 acres and 8 guntas in Bangalore
Project launch expected within 1 to 2 months following RERA approval
BDA demand notice for plan approval fees issued on July 22, 2026

💡 Investors should track the payment of BDA fees and the subsequent RERA registration, as these are the final regulatory hurdles before the project launch and revenue recognition begin.

Alpine Housing Clarifies Recent Price Volatility; No Undisclosed Material Events

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 23 Jul 2026, 11:36 AM

Alpine Housing Development Corporation Ltd has responded to a BSE query regarding significant movement in its share price. The company affirmed that all material information and events have been disclosed as per SEBI regulations and that the price movement is purely market-driven. Management confirmed there has been no Foreign Direct Investment (FDI) during the period and no insider trading pre-clearance was sought as monetary thresholds were not breached. This clarification comes as the stock has seen a 48.5% price return over the last three months.

Company confirms 0% Foreign Direct Investment (FDI) during the current period
Stock has delivered a 48.5% price return over the last 3 months
Management affirms all material events under Regulation 30 have been fully disclosed
No insider trading pre-clearance was required as monetary limits were not crossed
Company maintains a high promoter holding of 73.86% as of March 2026

💡 Investors should focus on upcoming quarterly financial results to assess if the recent 48.5% price rally is supported by fundamental growth in the Bangalore real estate market.

Rs 500 Cr Revenue Share Expected from 13-Acre Bangalore Project Launch

🟢 POSITIVE ⭐ 10/10

EXPANSION 📅 22 Jul 2026, 07:41 PM

Alpine Housing has reached a critical milestone in its 13-acre joint development project with Bhartiya Urban Pvt Ltd, with the BDA issuing a demand notice for plan approval fees. The company expects its share of net revenue from this project to be approximately Rs. 500 crores, to be realized over a 4-5 year period. This projected revenue is highly material, representing over 6.5x the company's current TTM revenue of Rs 76 crore. A formal project launch is anticipated within 1-2 months, pending RERA approval.

Project involves 13 acres and 8 guntas of land under a joint development agreement with Bhartiya Urban Pvt Ltd.
Company expects a net revenue share of approximately Rs. 500 crores from the project.
Revenue realization is projected over a period of 4-5 years post-launch.
Project launch is estimated within 1-2 months following RERA approval.
BDA issued a demand notice for plan approval fees on July 22, 2026.

💡 Monitor the receipt of RERA approval and the official project launch date as the next key catalysts. Investors should track quarterly booking numbers once launched to verify the projected Rs 500 crore revenue trajectory.

₹500 Cr Revenue Share Expected from 13-Acre Bangalore Project Launch

🟢 POSITIVE ⭐ 10/10

EXPANSION 📅 22 Jul 2026, 07:38 PM

Alpine Housing Development Corporation has reached a critical milestone for its 13-acre joint development project in Bangalore with Bhartiya Urban Pvt Ltd. The Bangalore Development Authority (BDA) has issued a demand notice for plan approval fees, which is the final step before RERA application and project launch. The company expects the project to launch within 1-2 months, with its share of net revenue estimated at ₹500 crores over a 4-5 year period. This projected revenue is approximately 6.5 times the company's current TTM revenue, representing a significant scale-up.

Project involves a 13-acre 8-guntas land parcel under a joint development agreement.
Estimated net revenue share for Alpine Housing is ₹500 crores over 4-5 years.
Project launch is anticipated within 1 to 2 months following RERA approval.
BDA issued a demand notice for plan approval fees on July 22, 2026.
Total revenue share of ₹500 cr is more than double the current market cap of ₹225 cr.

💡 Watch for the formal RERA approval and the official project launch announcement within the next 60 days. Investors should monitor the company's ability to convert this revenue share into operating cash flows over the 4-5 year execution cycle.

₹500 Cr revenue share expected from 13-acre Bangalore project launch

🟢 POSITIVE ⭐ 9/10

EXPANSION 📅 22 Jul 2026, 07:37 PM

Alpine Housing Development Corporation (AHDCL) has announced a major milestone for its 13-acre joint development project with Bhartiya Urban Pvt Ltd in Bangalore. The Bangalore Development Authority (BDA) has issued a demand notice for plan approval fees, signaling the final stages of the approval process. AHDCL expects to launch the project within 1-2 months following RERA approval. The company estimates its share of net revenue from this single project at ₹500 crores, to be realized over 4-5 years, which is highly material compared to its current TTM revenue of ₹76 crores.

Estimated net revenue share of ₹500 crores for AHDCL from the joint development project
Project covers a land area of 13 acres and 8 guntas in Bangalore
Project launch anticipated within 1 to 2 months following RERA approval
Revenue realization projected over a duration of 4 to 5 years
BDA demand notice for plan approval fees issued on July 22, 2026

💡 Investors should track the timeline for RERA approval and the subsequent project launch, as these are the primary triggers for future revenue recognition and cash flow.

Alpine Housing: Routine Compliance Filing on CS and RTA Appointments

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 10 Jul 2026, 06:57 PM

Alpine Housing Development Corporation Ltd has submitted a routine compliance filing under SEBI (LODR) Regulations 6(1) and 7(1). The document confirms that Kurian Zacharias continues as the Company Secretary and Compliance Officer, a position held since March 20, 2017. Additionally, Cameo Corporate Services Limited remains the Registrar and Share Transfer Agent (RTA), having been appointed on March 31, 2003. This filing is a periodic administrative update and does not reflect any changes in management or operations.

Kurian Zacharias has served as the Compliance Officer since March 20, 2017
Cameo Corporate Services Limited has been the RTA since March 31, 2003
The filing covers compliance for eight consecutive quarters from September 2024 to June 2026
Compliance Officer is confirmed as a qualified Company Secretary with membership number 35739

💡 No action is required as this is a standard regulatory disclosure. Investors should monitor upcoming quarterly financial results for operational performance updates.

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💰 Financial Performance

Geographic Revenue Split

The company is headquartered in Bangalore, Karnataka, suggesting a primary revenue concentration in the South Indian real estate market. Specific regional percentage splits are not disclosed in available documents.

⚙️ Operational Drivers

Raw Materials

Not disclosed in available documents. Typical raw materials for housing development include cement, steel, and bricks.

📈 Strategic Growth

Growth Strategy

The company maintains long-term service relationships, such as with its RTA (Cameo Corporate Services Limited) since 2003, indicating a focus on administrative stability to support project execution. Growth is likely tied to residential and commercial real estate development in the Bangalore region, though specific CAGR targets are not disclosed.

Products & Services

Residential apartments, commercial spaces, and housing development projects.

Brand Portfolio

Alpine Housing, Alpine Arch.

Strategic Alliances

The company is a member of CREDAI Bengaluru, indicating strategic alignment with industry bodies for advocacy and market standards.

🌍 External Factors

Industry Trends

The real estate industry is currently evolving through increased transparency under RERA and a shift toward organized developers. The company's positioning in the Bangalore market aligns with high-growth urban demand, though specific future growth percentages are not disclosed.

Competitive Landscape

Competes with other Bangalore-based real estate developers in the residential and commercial segments.

Competitive Moat

The company's moat is built on its established presence in the Bangalore real estate market (headquartered there since at least 1992) and long-term operational stability, evidenced by the retention of the same Company Secretary since 2017 and RTA since 2003.

Macro Economic Sensitivity

High sensitivity to interest rate cycles; an increase in home loan rates typically reduces demand for residential housing projects.

⚖️ Regulatory & Governance

Industry Regulations

Operations are subject to Real Estate (Regulation and Development) Act (RERA) norms, local municipal building codes in Bangalore, and Karnataka state land use regulations.