Q1 FY27 press release: revenue from operations up 79% YoY, PAT at Rs. 972 lakhs

Veegaland Developers' Q1 FY27 press release: revenue from operations Rs. 7,432 lakhs, up 79% YoY; EBITDA Rs. 1,431 lakhs, up 135% YoY; PAT Rs. 972 lakhs with margin at 12.86%; gross margin 28.25%.

Tue 6 Oct 2026

Revenue from operations

Rs. 7,432 lakhs, up 79% YoY

EBITDA

Rs. 1,431 lakhs, up 135% YoY

PAT margin

PAT Rs. 972 lakhs with margin at 12.86%

The company's press release covers its unaudited financial results for the quarter ended June 30, 2026, which it describes as the first quarter of FY 2027. The Board of Directors, at a meeting held in Kochi, approved these results.

What the quarter showed

• Revenue from operations: Rs. 7,432 lakhs in the quarter ended June 30, 2026, compared with Rs. 4,150 lakhs in the quarter ended June 30, 2025 and Rs. 7,033 lakhs in the quarter ended March 31, 2026.
• Revenue from operations rose 79% year-on-year. The company attributes this to strong sales growth and robust project progress, and says all ongoing projects progressed as per schedule, with steady progress in their respective percentages of completion.
• Gross profit: Rs. 2,099 lakhs, with a gross profit margin of 28.25%.
• EBITDA: Rs. 1,431 lakhs, an increase of 135% year-on-year, with an EBITDA margin of 18.93%.
• Profit after tax: Rs. 972 lakhs, with the PAT margin improving from 7.65% to 12.86%.

The release also shows figures for the year ended March 31, 2026: revenue from operations Rs. 25,098 lakhs, gross profit Rs. 7,013 lakhs, EBITDA Rs. 4,264 lakhs, profit after tax Rs. 2,661 lakhs, gross profit margin 27.94%, EBITDA margin 16.78% and PAT margin 10.47%.

Projects and portfolio

• One new project was launched in Kochi during the quarter, Veegaland Amora, adding 1.59 lakh square feet to the portfolio of ongoing projects.
• The company states it has 12 ongoing projects across Kochi, Thiruvananthapuram, Kozhikode and Thrissur, operating under the brand name Veegaland Homes, across mid-premium, premium, ultra-premium and luxe-series residential segments.
• It refers to a strong project pipeline of 3 upcoming projects and 6.5 acres of land reserves for medium-term visibility.
• It reports a CAGR of 40.12% in pre-sales over the past three fiscal years.

What management said

Mr. Kochouseph Chittilappilly, Executive Vice-Chairman, said the quarter saw strong sales demand and robust project execution, translating into the 79% revenue growth. The release notes that this sales performance came amid ongoing uncertainties in the Middle East, which has been a strong source of demand for the company, and it says this shows no signs of market risk arising from the same. Management adds that it is confident about the residential real estate market in Kerala and is working towards expanding its presence.

Points to keep in mind

• The results are described in the release as unaudited.
• The figures in the highlights table are presented in Rs. lakhs, with comparisons for the quarter ended March 31, 2026, the quarter ended June 30, 2025 and the year ended March 31, 2026.
• The release includes a safe harbour statement noting that forward-looking statements are based on estimates and that actual results may differ materially.

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