ASArihant Superstructures506194Investor deck

Q2 & H1 FY27 presentation: pre-sales INR 1,727 Mn, revenue INR 1,332 Mn, PAT INR 106 Mn

Arihant Superstructures released its Q2 & H1 FY27 investor presentation: Q2 pre-sales of INR 1,727 Mn from 236 units, operating revenue INR 1,332 Mn and PAT INR 106 Mn at a 7.9% margin.

By ScoutQuest · Wed 4 Nov 2026, 6:57 PM IST · 3 min read

Q2 Pre-sales

INR 1,727 Mn from 236 units

Q2 Operating Revenue / PAT

Revenue INR 1,332 Mn; PAT INR 106 Mn at a 7.9% margin

H1 Revenue / PAT

H1 revenue rose 8.70% to INR 2,648 Mn; H1 PAT fell 21.37% to INR 203 Mn

Quarterly numbers

• Pre-sales, i.e. the value of sales booked, were INR 1,727 Mn in Q2-FY27, compared with INR 1,731 Mn in Q1-FY27 and INR 2,358 Mn in Q2-FY26.
• 236 units were sold in the quarter, covering 220,715 sq. ft., against 221 units in Q1-FY27 and 280 units in Q2-FY26.
• Operating revenue was INR 1,332 Mn, up 8.62% from INR 1,227 Mn a year earlier and 1.24% higher than the preceding quarter.
• EBITDA was INR 280 Mn with an EBITDA margin of 20.99%, against an EBITDA of INR 299 Mn and a margin of 24.37% in Q2-FY26, a fall of 338 Bps.
• Profit after tax was INR 106 Mn, up 6.00% year-on-year, with a PAT margin of 7.92%. Basic EPS was INR 1.56 per share.
• Interest cost for the quarter was INR 148 Mn, down 13.07% from INR 170 Mn a year earlier.
• Collections stood at INR 1,545 Mn in Q2-FY27, against INR 1,612 Mn in Q1-FY27 and INR 1,110 Mn in Q2-FY26.

Half-year picture

• H1-FY27 operating revenue was INR 2,648 Mn, up 8.70% from INR 2,436 Mn in H1-FY26.
• Operating expenses rose 18.40% to INR 2,093 Mn, and EBITDA fell 16.95% to INR 555 Mn from INR 668 Mn.
• EBITDA margin for the half year was 20.97% against 27.44%, a decline of 647 Bps.
• Profit after tax was INR 203 Mn against INR 259 Mn, down 21.37%, and the PAT margin was 7.68% against 10.62%.
• Despite the lower profit, basic EPS for H1 rose to INR 3.83 from INR 3.62, up 5.80%.

Debt position as on 30th September 2026

• Gross debt: INR 9,022 Mn.
• Less cash and cash equivalents of INR 173 Mn and investments/deposits of INR 574 Mn, net debt works out to INR 8,275 Mn.
• After adjusting unsecured loans and others of INR 4,345 Mn, adjusted net debt is stated at INR 3,930 Mn.
• Net worth is INR 4,749 Mn, and adjusted secured net debt to equity is 0.83.
• The note lists borrowings availed from HDFC Bank, SBI, ICICI Bank, STCI Finance Limited, ICICI Ventures, Tata Capital, Federal Bank and Bajaj Housing Finance.

Portfolio scale

• Gross development value is stated at Rs 14,000 Cr+.
• 21 mn sq. ft. is under development across 19 projects, and 12.7 mn sq. ft. has been developed in MMR and Jodhpur.
• 14,200+ units have been delivered across 67 projects, and land acquisition is stated at <INR 500/sq. ft.
• Unsold inventory stood at 275 units valued at 529 Mn.

Hospitality foray

• The wholly owned subsidiary, Dwellcorns Limited, has entered into a Hotel Management Agreement with ITC Hotels Limited for a 227-room, five-star luxury hotel, including 44 suites, at World Villas under the Mementos brand.
• The project is described as featuring over 70,000+ sq. ft. of indoor banquets and 1,00,000 sq. ft. of outdoor event spaces, aimed at leisure, MICE and destination wedding demand across the Mumbai-Pune corridor.

Other points from the CMD's message

• The Board approved a succession and leadership framework covering promoter stewardship and professional meritocracy, described as a step towards institutionalising the organisation.
• The stated long-term approach balances wealth protection and wealth creation, with Club 10 Gymkhana positioned as part of that plan.

How a reader can use this

• The quarterly numbers show revenue and profit slightly ahead of the same quarter last year, while the half-year profit is lower than last year because margins narrowed.
• The debt figures show gross debt, net debt after cash and deposits, and a further adjusted figure after unsecured loans, along with a 0.83 secured net debt to equity ratio.
• Pre-sales, units sold and collections indicate the pace of sales, while unsold inventory indicates what is still left to sell.

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