Board approves unaudited standalone results for Q2 and H1 FY27; auditor's limited review conclusion unqualified
Board met on 5 November 2026 and approved the unaudited standalone financial results for the quarter and half year ended 30 September 2026.
By ScoutQuest · · 3 min read
| Line item | Latest | Year ago | YoY | Prev qtr | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 10,634.29 | 8,265.69 | +28.7% | 7,432.18 | +43.1% |
| Total income | 10,877.08 | 8,313.47 | +30.8% | 7,561.94 | +43.8% |
| Profit before tax | 2,146.54 | 1,138.12 | +88.6% | 1,298.90 | +65.3% |
| Profit after tax | 1,598.80 | 831.22 | +92.3% | 972.32 | +64.4% |
| Total comprehensive income | 1,594.18 | 807.64 | +97.4% | 972.32 | +64% |
| Basic EPS | 4.46 | 2.88 | +54.9% | 2.88 | +54.9% |
- Total income YoY growth
- +30.8% (year ago 8,313.47)
- Profit after tax (latest)
- 1,598.80 Lakhs, +92.3% YoY
- Period
- 30-Sep-26 (Unaudited)
Auditor's review
Conclusion: Unmodified
Notes to the results
- IPO of 1,50,00,000 equity shares at Rs. 140 per share aggregating Rs. 21,000 lakhs completed; shares listed on NSE and BSE on 18 September 2026. Net IPO proceeds Rs 18,868.29 lakhs, utilisation Nil.
- Issue expenses of Rs 2,443.56 lakhs (inclusive of GST of Rs 364.24 lakhs) deducted from Securities Premium Account under Other Equity per Ind AS 32.
- Figures for quarter ended 30 September 2025 are balancing figures between audited half-year figures and unaudited (not reviewed) figures for three months ended 30 June 2025.
What the Board approved
Veegaland Developers Ltd met on 5 November 2026, from 11:00 A.M. to 2:30 P.M., and approved its unaudited standalone financial results for the quarter and half year ended 30 September 2026. The figures below are standalone, stated in Rs in Lakhs as printed.
Auditor's review conclusion
Varma & Varma, Chartered Accountants, carried out a limited review and stated that nothing has come to their attention that causes them to believe the statement contains any material misstatement or omits required disclosures — an unqualified conclusion. A limited review provides moderate assurance and is not an audit opinion.
Quarter and half year performance
- Revenue from operations: Rs. 10,634.29 lakh for the quarter (30-Sep-25: Rs. 8,265.69 lakh) and Rs. 18,066.47 lakh for the half year (30-Sep-25: Rs. 12,415.85 lakh)
- Total income: Rs. 10,877.08 lakh for the quarter; Rs. 18,439.02 lakh for the half year
- Profit before tax: Rs. 2,146.54 lakh for the quarter; Rs. 3,445.44 lakh for the half year
- Profit for the period: Rs. 1,598.80 lakh for the quarter (30-Sep-25: Rs. 831.22 lakh); Rs. 2,571.12 lakh for the half year
- Basic and diluted earnings per share: Rs. 4.46 for the quarter; Rs. 7.38 for the half year
Balance sheet as at 30 September 2026
- Total assets: Rs. 70,922.58 lakh (31-Mar-26: Rs. 48,381.36 lakh)
- Inventories: Rs. 27,383.71 lakh
- Cash and cash equivalents: Rs. 9,234.86 lakh (31-Mar-26: Rs. 2,052.69 lakh)
- Current borrowings: Rs. 3,631.26 lakh; non-current borrowings: Rs. 3,421.71 lakh
- Equity share capital: Rs. 4,875.00 lakh; other equity: Rs. 43,552.95 lakh
Cash flow for the six months
- Net cash from operating activities: Rs. 5,575.28 lakh
- Net cash used in investing activities: Rs. 15,228.84 lakh
- Net cash from financing activities: Rs. 16,835.73 lakh, which includes Rs. 21,000.00 lakh from issue of share capital (including securities premium) and Rs. 2,443.56 lakh of share issue expenses
IPO and use of proceeds
The company completed an Initial Public Offering of 1,50,000 equity shares of face value of Rs. 10 each at an issue price of Rs. 140 per equity share (aggregating to Rs. 21,000 lakhs) comprising a fresh issue, and the shares were listed on NSE and BSE on 18 September 2026. Against net IPO proceeds of Rs. 18,868.29 lakh, utilisation up to 30 September 2026 was Nil and Rs. 18,868.29 lakh remained unutilised. The objects are Rs. 11,982.54 lakh towards part of the expenses for ongoing projects and Rs. 6,885.75 lakh towards unidentified acquisition of land and general corporate purpose.
Earlier capital actions recorded in the notes
17,50,000 equity shares of face value Rs. 10 each were allotted under a rights issue at an issue price of Rs. 1,000 per equity share, and 2,70,00,000 fully paid-up equity shares were allotted as bonus shares in the ratio of 4:1, i.e. four bonus shares for every one equity share held.
Points to track
Revenue from operations and profit for the period are higher year on year on a standalone basis, and the balance sheet has expanded after the IPO. The IPO proceeds are unutilised as on 30 September 2026, so the pace of spending against the stated objects is the item investors would watch in the coming quarters.
Also from Veegaland Developers
Veegaland Developers Q2 FY27: consolidated EBITDA up 77.8% YoY to ₹22.8 Cr, EBITDA margin 20.9%
5 Nov 2026
Veegaland Developers schedules Q2 & H1 FY2027 earnings conference call for November 9, 2026 at 11:00 AM
4 Nov 2026
CIN changes to L-prefix, MCA status moves from 'Unlisted' to 'Listed'
30 Oct 2026
More numbers
- Revenue from operations, H1 FY27 (standalone, Rs in Lakhs)18,066.47
- Profit for the period, H1 FY27 (standalone, Rs in Lakhs)2,571.12
- IPO issue price per equity shareRs. 140
- Net IPO proceeds unutilised as on 30 September 2026 (Rs in Lakhs)18,868.29
- Total income, latest quarter10,877.08 (Rs in Lakhs)
- Total income, year-ago quarter8,313.47 (Rs in Lakhs)
- Total income, previous quarter7,561.94 (Rs in Lakhs)
- Total comprehensive income, latest quarter1,594.18 (Rs in Lakhs)
- Total comprehensive income, year-ago quarter807.64 (Rs in Lakhs)
- Total comprehensive income, previous quarter972.32 (Rs in Lakhs)
- Profit after tax, latest quarter1,598.80 (Rs in Lakhs)
- Profit after tax, year-ago quarter831.22 (Rs in Lakhs)
- Profit after tax, previous quarter972.32 (Rs in Lakhs)
- Revenue from operations, latest quarter10,634.29 (Rs in Lakhs)
- Revenue from operations, year-ago quarter8,265.69 (Rs in Lakhs)
- Revenue from operations, previous quarter7,432.18 (Rs in Lakhs)
- Profit before tax, latest quarter2,146.54 (Rs in Lakhs)
- Profit before tax, year-ago quarter1,138.12 (Rs in Lakhs)
- Profit before tax, previous quarter1,298.90 (Rs in Lakhs)
Nothing here is a view, opinion or recommendation of ScoutQuest, its parent, directors or employees. ScoutQuest is a technology company: this page was assembled automatically from public sources using artificial intelligence, and may contain errors or omissions. Confirm everything against the original source before you act on it. Any use of this page is at your own risk, and neither ScoutQuest nor its parent, directors or employees accepts liability for it.