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Quarterly results

consolidated · as filed with NSE · Q1 FY27 back to Q1 FY19

₹ crore	Q1 FY27	Q4 FY26	Q3 FY26	Q2 FY26	Q1 FY26	Q4 FY25	Q3 FY25	Q2 FY25	Q1 FY25	Q4 FY24	Q3 FY24	Q2 FY24	Q1 FY24	Q4 FY23	Q3 FY23	Q2 FY23	Q4 FY22	Q3 FY22	Q2 FY22	Q1 FY22	Q4 FY21	Q3 FY21	Q1 FY21	Q4 FY20	Q3 FY20	Q2 FY20	Q1 FY20	Q4 FY19	Q3 FY19	Q2 FY19	Q1 FY19
Revenue from operations	1,301	1,750	1,493	2,767	988	1,150	1,411	1,320	1,405	1,315	1,054	1,217	910	961	1,629	689	823	832	754	284	790	828	118	616	527	491	603	574	529	592	888
Other income	60.8	73.9	69.1	152	86.4	63.2	49.2	38.7	36.8	244	29.2	26.4	23.6	33.7	22	23.2	19.5	14.2	14.3	10.5	10.8	9.2	8.8	10.2	9.1	13.6	14.9	23.8	20.2	27.7	7.1
Total expenses	654	850	735	1,437	574	636	653	579	669	590	606	647	509	665	737	425	513	530	408	187	446	476	88.6	276	329	314	403	379	357	313	442
EBITDA	734	960	857	1,541	520	618	856	814	815	795	509	638	474	369	940	310	352	332	373	125	374	382	57.9	371	230	213	235	210	188	296	462
EBITDA margin	56.4%	54.9%	57.4%	55.7%	52.7%	53.7%	60.7%	61.7%	58.0%	60.5%	48.3%	52.4%	52.1%	38.3%	57.7%	45.1%	42.7%	39.9%	49.5%	43.9%	47.3%	46.2%	49.1%	60.2%	43.6%	43.3%	39.0%	36.6%	35.6%	50.0%	52.0%
Finance costs	52.4	27.1	67.4	146	75	80.1	74.5	51.7	58.9	13.5	50.1	56.5	61.5	62.1	38.1	36.3	31.6	20	17.1	17.3	19.7	20.2	17.9	20.1	19.9	24.6	23.9	3.8	4.9	5.8	4.9
Depreciation	35	33.1	32.7	65.1	31.6	24.2	23.3	20.8	20.2	56.6	11.4	11.3	11.3	9.7	10.2	10.1	9.7	9.9	10.1	10.1	10	10.3	10.6	11.2	11.3	11.3	11.1	11	11.4	11	10.6
Profit before tax	708	974	803	1,482	500	577	808	780	773	968	477	597	424	331	914	287	330	316	360	108	355	361	38.3	349	208	191	215	219	192	307	453
Tax	168	260	190	319	85.7	144	192	193	191	183	119	142	105	−89.6	226	69.2	98.4	83.7	95.4	29	68	74.3	11.7	99.8	61.5	54	64.3	64.4	57.3	94	145
Net profit	544	703	623	1,182	421	433	618	589	585	788	360	457	322	480	703	319	232	468	267	80.6	287	287	28.1	251	148	138	152	156	138	214	309
Net margin	41.8%	40.2%	41.7%	42.7%	42.7%	37.7%	43.8%	44.7%	41.6%	59.9%	34.2%	37.5%	35.3%	50.0%	43.1%	46.3%	28.2%	56.2%	35.3%	28.4%	36.3%	34.6%	23.8%	40.8%	28.1%	28.1%	25.2%	27.2%	26.1%	36.1%	34.8%
EPS (₹)	14.95	19.34	17.12	32.49	11.59	11.91	17.01	16.21	16.08	21.67	9.91	12.56	8.85	13.21	19.32	8.76	6.39	12.86	7.33	2.22	7.89	7.88	0.77	6.90	4.08	3.80	4.18	4.28	3.79	5.88	9.04
Net profit YoY	+29.0%	+62.4%	+0.7%	+100.4%	−27.9%	−45.0%	+71.7%	+29.0%	+81.7%	+64.1%	−48.7%	+43.4%	–	+106.7%	+50.3%	+19.5%	−19.0%	+63.1%	–	+187.2%	+14.3%	+93.4%	−81.5%	+61.1%	+7.5%	−35.4%	−50.9%	–	–	–	–

Annual results

financial years ending March · from the fourth-quarter filings

₹ crore	FY26	FY25	FY24	FY23	FY22	FY21	FY20	FY19
Revenue from operations	6,009	5,286	4,496	4,193	2,694	2,053	2,238	2,583
Other income	295	188	323	101	58.5	38	48.4	78.8
Total expenses	3,022	2,537	2,352	2,290	1,638	1,169	1,323	1,491
EBITDA	3,358	3,103	2,381	2,112	1,181	1,000	1,048	1,155
EBITDA margin	55.9%	58.7%	53.0%	50.4%	43.9%	48.7%	46.8%	44.7%
Finance costs	241	265	47.5	169	86	76	88.5	19.4
Depreciation	131	88.5	190	39.8	39.8	41.2	44.9	44
Profit before tax	3,259	2,937	2,467	2,003	1,114	921	963	1,171
Tax	768	719	549	319	306	185	280	361
Net profit	2,507	2,226	1,927	1,905	1,047	739	689	817
Net margin	41.7%	42.1%	42.9%	45.4%	38.9%	36.0%	30.8%	31.6%
EPS (₹)	68.96	61.21	52.99	52.38	28.80	20.33	18.96	22.80
Net profit YoY	+12.7%	+15.5%	+1.2%	+81.9%	+41.6%	+7.2%	−15.6%	–

EPS is as filed for each period and is not restated for later bonus issues or splits.

Cash flow

annual · ₹ crore

₹ crore	FY26	FY25	FY24	FY23	FY22
Operating cash flow	1,380	2,163	2,810	−2,383	1,069
Investing cash flow	−463	−2,392	−644	1,136	−1,390
Financing cash flow	−1,009	200	−2,034	709	1,142
Capital expenditure	637	0	0	14.3	28.6
Free cash flow (CFO − capex)	743	2,163	2,810	−2,397	1,040

Net profit trend

annual, ₹ crore

FY21

₹739

FY22

₹1,047+42%

FY23

₹1,905+82%

FY24

₹1,927+1%

FY25

₹2,226+16%

FY26

₹2,507+13%

Result filings

as filed with NSE · PDF and XBRL

Period	Basis	Filed	Documents
Q1 FY27	Consolidated	17 Jul 2026	PDF XBRL
Q1 FY27	Standalone	17 Jul 2026	PDF XBRL
Q4 FY26	Consolidated · audited	8 May 2026	PDF on NSE XBRL
Q4 FY26	Standalone · audited	8 May 2026	PDF on NSE XBRL
Q3 FY26	Consolidated	19 Jan 2026	PDF XBRL
Q3 FY26	Standalone	19 Jan 2026	PDF XBRL
Q2 FY26	Consolidated	–	PDF XBRL
Q2 FY26	Consolidated	15 Oct 2025	PDF XBRL
Q2 FY26	Standalone	15 Oct 2025	PDF XBRL
Q2 FY26	Standalone	–	PDF XBRL

Annual reports

NSE archive

FY266.22 MB FY25 FY24 FY23 FY22 FY21 FY20 FY19 FY18 FY17

Key ratios

P/E (TTM)5Y avg 22.8×22.1×

P/B5Y avg 3.43×3.77×

ROEFY26, on average equity14.9%

Net margin41.7%

Debt / equity0.16×

Revenue CAGR (3Y)12.7%

Profit CAGR (3Y)9.6%

EPS (TTM)₹83.91

Market cap₹67,575 Cr

Computed from the filings and the last close. Market cap uses the latest share count from the balance sheet.

P/B vs history

3.77×

vs 8-point avg 3.43× (+10%)

2.51× low3.43× avg4.65× high

History points are balance-sheet dates (2022 → 2026), priced at the adjusted close on each date.

Balance sheet 31 Mar 2026

Total assets₹25,328 Cr+11%

Net worth₹17,922 Cr+14%

Total borrowings₹2,816 Cr−15%

Cash & bank balances₹176 Cr−34%

Investments₹1,362 Cr−37%

Inventories₹10,183 Cr+8%

Trade receivables₹324 Cr+188%

Trade payables₹492 Cr−25%

Change vs the same date a year earlier.

Revenue mix FY26

Real estate96.7%result ₹3,365 Cr

Hospitality3.3%result ₹69.7 Cr

Segment revenue as reported, before inter-segment eliminations.

Shareholding 30 Jun 2026

%	Jun 26	Mar 26	Dec 25	Sept 25	Jun 25	Mar 25	Dec 24	Sept 24	Jun 24	Mar 24	Dec 23	Sept 23
Promoter	67.70	67.70	67.70	67.70	67.70	67.70	67.70	67.70	67.70	67.70	67.70	67.70
FII	15.11	15.42	16.58	16.06	19.36	19.97	20.24	18.40	18.05	16.96	17.40	17.83
DII	14.83	14.58	13.46	13.85	10.80	10.20	10.05	11.96	12.29	12.84	12.05	11.62
of which MF	12.77	12.71	11.58	11.96	9.06	–	–	–	–	–	–	–
Retail	1.80	1.78	1.72	1.86	1.69	1.65	1.48	1.54	1.54	1.96	2.21	2.20
Other public	0.56	0.52	0.54	0.53	0.45	0.48	0.53	0.40	0.42	0.54	0.64	0.65

94,765 shareholders · NSE shareholding pattern filings.