Eldeco Housing And Industries LimitedReal EstateELDEHSG
Q1 FY27 concall · earnings callEldeco Housing And Industries Limited
A strong start to the year with collections exceeding bookings, improved profitability, and expanded land pipeline to enhance future growth visibility.
Numbers
| Metric | This quarter | Change | Five-quarter trend |
|---|---|---|---|
| Booking Value | ₹105.7 Cr | — | |
| Area Booked | 1.26 lakh square feet | — | |
| Collections | ₹131.2 Cr | 68% YoY | |
| Construction Spend | ₹57.8 Cr | 47.2% YoY | |
| Total Income | ₹50.3 Cr | 63% YoY | |
| EBITDA | ₹18.7 Cr | 243% YoY | |
| EBITDA Margin | 37.1% | — | |
| Profit After Tax (PAT) | ₹15.1 Cr | 382% YoY |
Financials
From filed quarterly results. YoY and QoQ compare each metric on the same accounting basis.
| Quarter | Revenue | Net profit (PAT) | Basic EPS |
|---|---|---|---|
| Q3 FY25 | ₹34.66 Cr+60.4% YoY+3.8% QoQ | ₹5.77 Cr-28.9% YoY+27.9% QoQ | ₹5.87-28.8% YoY+27.9% QoQ |
| Q2 FY25 | ₹33.38 Cr+95.7% YoY+14.4% QoQ | ₹4.51 Cr-29.8% YoY-43.6% QoQ | ₹4.59-29.7% YoY-43.5% QoQ |
| Q1 FY25 | ₹29.18 Cr+17.5% YoY-40.7% QoQ | ₹7.99 Cr+4.7% YoY-31.7% QoQ | ₹8.13+4.9% YoY-31.6% QoQ |
| Q4 FY24 | ₹49.20 Cr+27.1% YoY+127.7% QoQ | ₹11.70 Cr-21.5% YoY+44.1% QoQ | ₹11.89-21.6% YoY+44.1% QoQ |
| Q3 FY24 | ₹21.61 Cr— YoY+26.7% QoQ | ₹8.12 Cr— YoY+26.5% QoQ | ₹8.25— YoY+26.3% QoQ |
TL;DR
- Bookings at INR 105.7 Cr normalized after the launch-led Q4.
- Collections grew 68% YoY to INR 131.2 Cr.
- EBITDA margin surged to 37.1%, driven by high-margin horizontal development sales.
- A large 50+ acre land parcel was contracted, strengthening the development pipeline.
- Management aims to launch nearly all forthcoming projects within FY27.
Said on the call
“FY28 onwards is going to be a pivotal change in the trajectory of this company in terms of presales as well as sales.”
From the Q&A
| Topic | What management said |
|---|---|
| Project Diversification (Eldeco City Courtyard) | Explained it's a small commercial part of an integrated township designed to fulfill norms and deliver a full experience. |
| High EBITDA Margin Drivers & Outlook | Attributed the 37% margin bump to a revenue mix skewed towards high-margin horizontal development (Imperia) in Q1 vs. vertical development in the prior year; sees opportunity for more horizontal projects. |
| Imperia Phase 2 Revenue Recognition | Approx. INR 170-180 Cr of inventory is available and is expected to be recognized predominantly in the current financial year. |
| Legacy Inventory Monetization | INR 75 Cr of legacy inventory exists; aim is to liquidate 40-60% of it in the current year. |
| Latitude 27 Completion & Revenue | Aiming to recognize revenue for some completed towers in FY27 (potentially March), with internal estimates of 15-20% of the project's GDV between March-May 2027. |
| Revenue Source for Q1 | 85% of Q1 revenue is attributable to Imperia Phase 2, which delivered gross margins of approximately 60%. |
| Forthcoming Project Launch Timeline | Almost all of the 3.4 million sq ft in the forthcoming project pipeline is expected to be launched within FY27. |
| Trinity (Faith Tower) Sales Traction | The launch was in mid-June; real effect of sales will be visible in Q2, with a pipeline of 20-25 bookings in process. |
Guidance
- Almost all of the 3.4 million sq ft forthcoming project pipeline is expected to be launched within FY27.
- Expect to recognize predominantly INR 170-180 Cr of Imperia Phase 2 inventory in the current financial year.
- Aim to liquidate 40-60% of the INR 75 Cr legacy inventory in the current year.
- Target to bring some completed towers of Latitude 27 to revenue recognition, potentially 15-20% of its GDV, by March-May 2027.
Source
Summary written from the transcript filed by Eldeco Housing And Industries Limited for the call held on 13 Aug 2026; published 18 Aug 2026, 19:52 IST.
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