Quarterly results
consolidated · as filed with NSE · Q1 FY27 back to Q2 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 | Q1 FY23 | Q4 FY22 | Q3 FY22 | Q2 FY22 | Q1 FY22 | Q4 FY21 | Q3 FY21 | Q2 FY21 | Q1 FY21 | Q4 FY20 | Q3 FY20 | Q2 FY20 | Q1 FY20 | Q4 FY19 | Q3 FY19 | Q2 FY19 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue from operations | 217 | 342 | 212 | 493 | 681 | 889 | 279 | 246 | 387 | 21 | 101 | 96.4 | 196 | 108 | 133 | 194 | 152 | 253 | 323 | 349 | 520 | 732 | 722 | 20.1 | 47.9 | 116 | 1,232 | 1,086 | 837 | 1,822 | 1,271 | 1,040 |
| Other income | 24.5 | 64.7 | 51.6 | 43.8 | 13.1 | 293 | 31.1 | 41.4 | 16.2 | 18.5 | 11.3 | 11.9 | 13.2 | 24.8 | 15.5 | 8.8 | 12.7 | 19.6 | 32.8 | 31.9 | 12.3 | 27.8 | 35.1 | 30.6 | 47.2 | 35.4 | 85.4 | 16.3 | 32.8 | 219 | 16.5 | 19.3 |
| Total expenses | 479 | 756 | 498 | 689 | 859 | 1,025 | 283 | 254 | 426 | 341 | 140 | 125 | 257 | 467 | 385 | 112 | 208 | 289 | 411 | 358 | 511 | 623 | 649 | 129 | 186 | 284 | 1,201 | 733 | 748 | 1,803 | 1,001 | 904 |
| EBITDA | −131 | −261 | −152 | −52.3 | −10.8 | 8.2 | 3 | −1 | −31 | −314 | −33.1 | −23 | −57.6 | −355 | −245 | 91 | −36.5 | −8.1 | −56.5 | 22.4 | 40.6 | 145 | 129 | −41.5 | −53.2 | −79.8 | 125 | 515 | 255 | 166 | 388 | 243 |
| EBITDA margin | -60.3% | -76.2% | -71.7% | -10.6% | -1.6% | 0.9% | 1.1% | -0.4% | -8.0% | -1495.6% | -32.9% | -23.9% | -29.4% | -328.2% | -184.5% | 46.9% | -24.1% | -3.2% | -17.5% | 6.4% | 7.8% | 19.9% | 17.9% | -205.7% | -111.1% | -68.6% | 10.2% | 47.5% | 30.5% | 9.1% | 30.5% | 23.3% |
| Finance costs | 119 | 140 | 113 | 135 | 160 | 139 | 5.1 | 3.6 | 4.7 | 2.3 | 3.6 | 2.5 | 0.8 | 0.7 | 3.5 | 6.3 | 17.2 | 24.4 | 28.9 | 28 | 28.7 | 34.2 | 53.1 | 62.7 | 78 | 81.1 | 87.1 | 154 | 159 | 145 | 114 | 104 |
| Depreciation | 13 | 12.6 | 20 | 8.5 | 6.7 | 5.4 | 2.2 | 3.1 | 2.8 | 2.9 | 2.9 | 2.8 | 2.7 | 2.9 | 3 | 3.1 | 3.1 | 3.5 | 2.9 | 2.9 | 2.9 | 2.7 | 3.3 | 4.3 | 7 | 6.7 | 7.3 | 8.9 | 7.8 | 2.9 | 3.7 | 2.6 |
| Profit before tax | −238 | −345 | −239 | −152 | −165 | 129 | 26.9 | 33.8 | −22.4 | −301 | −28.3 | −16.4 | −677 | −373 | −236 | 90.5 | −44.1 | −16.4 | −55.4 | 23.5 | 21.3 | 136 | 108 | −77.8 | −91 | −144 | 116 | 369 | 53.5 | 237 | 286 | 156 |
| Tax | 0.3 | −19.3 | −5.1 | 0.5 | 0.8 | 6.2 | 4.5 | 9.5 | 5.8 | 1.2 | 10.2 | 1.9 | 2.3 | 3.2 | 0.3 | 33.7 | 7.6 | 44.4 | 31.6 | 17.8 | 16.5 | 41.8 | 27 | −1.8 | 3.5 | −34.4 | 67.1 | 64.8 | 174 | 123 | 81.4 | 61.1 |
| Net profit | −234 | −323 | −234 | −153 | −166 | 123 | 22.4 | 24.3 | −28.2 | −302 | −38.5 | −18.2 | −679 | −376 | −237 | 56.7 | −51.8 | −60.8 | −87 | 5.6 | 4.9 | 94.5 | 80.7 | −76 | −94.5 | −110 | 49.3 | 301 | −120 | 109 | 202 | 75.9 |
| Net margin | -108.1% | -94.4% | -110.0% | -31.0% | -24.3% | 13.8% | 8.0% | 9.9% | -7.3% | -1438.1% | -38.3% | -18.9% | -346.8% | -347.5% | -178.0% | 29.2% | -34.2% | -24.0% | -27.0% | 1.6% | 0.9% | 12.9% | 11.2% | -377.3% | -197.4% | -94.3% | 4.0% | 27.7% | -14.3% | 6.0% | 15.9% | 7.3% |
| EPS (₹) | -1.69 | -2.33 | -1.68 | -1.12 | -1.29 | 1.06 | 0.35 | 0.38 | -0.49 | -5.58 | -0.71 | -0.34 | -12.55 | -6.94 | -4.37 | 1.04 | -0.98 | -1.31 | -1.92 | 0.12 | 0.10 | 2.09 | 1.77 | -1.67 | -2.08 | -2.42 | 1.08 | 6.65 | -2.64 | 2.41 | 4.49 | 1.68 |
| Net profit YoY | −41.5% | −363.0% | −1143.8% | −728.8% | −486.6% | +140.7% | +158.2% | +233.1% | +95.8% | +19.6% | +83.7% | −132.1% | −1212.4% | −518.5% | −172.0% | +904.5% | −1163.7% | −164.3% | −207.9% | +107.4% | +105.2% | +186.1% | +63.8% | −125.2% | +21.0% | −201.0% | −75.7% | +296.8% | – | – | – | – |
Annual results
financial years ending March · from the fourth-quarter filings| ₹ crore | FY26 | FY25 | FY24 | FY23 | FY22 | FY21 | FY20 | FY19 |
|---|---|---|---|---|---|---|---|---|
| Revenue from operations | 1,732 | 2,180 | 414 | 587 | 1,445 | 1,521 | 3,271 | 4,944 |
| Other income | 173 | 367 | 55 | 61.7 | 96.6 | 141 | 170 | 279 |
| Total expenses | 2,803 | 2,492 | 862 | 1,172 | 1,568 | 1,587 | 2,982 | 4,383 |
| EBITDA | −474 | 164 | −428 | −546 | −1.5 | 180 | 801 | 1,043 |
| EBITDA margin | -27.3% | 7.5% | -103.5% | -93.0% | -0.1% | 11.8% | 24.5% | 21.1% |
| Finance costs | 549 | 461 | 9.2 | 27.6 | 110 | 228 | 481 | 464 |
| Depreciation | 47.9 | 14.8 | 11.3 | 12.1 | 12.1 | 17.3 | 30.8 | 17.4 |
| Profit before tax | −897 | 27.3 | −1,023 | −563 | −27 | 75.2 | 379 | 840 |
| Tax | −23 | −176 | 15.6 | 44.9 | 110 | 70.5 | 257 | 339 |
| Net profit | −872 | 194 | −1,038 | −608 | −137 | 4.7 | 121 | 504 |
| Net margin | -50.4% | 8.9% | -250.9% | -103.5% | -9.5% | 0.3% | 3.7% | 10.2% |
| EPS (₹) | -6.43 | 1.69 | -19.20 | -11.29 | -3.00 | 0.10 | 0.00 | 11.04 |
| Net profit YoY | −550.6% | +118.6% | −70.9% | −342.6% | −3009.6% | −96.1% | −76.0% | – |
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 | 44.5 | 1,461 | −97.3 | −343 | −248 |
| Investing cash flow | −78.6 | 507 | 95.6 | 661 | 280 |
| Financing cash flow | 629 | −1,971 | −8.5 | −331 | −63.8 |
| Capital expenditure | 43.9 | 0 | 2.4 | 0.9 | 0.5 |
| Free cash flow (CFO − capex) | 0.6 | 1,461 | −99.7 | −344 | −248 |
Net profit trend
annual, ₹ croreFY21
₹4.7
FY22
₹−137−3010%
FY23
₹−608−343%
FY24
₹−1,038−71%
FY25
₹194+119%
FY26
₹−872−551%
Result filings
as filed with NSE · PDF and XBRL| Period | Basis | Filed | Documents |
|---|---|---|---|
| Q1 FY27 | Consolidated | 10 Aug 2026 | PDF on NSE XBRL |
| Q1 FY27 | Standalone | 10 Aug 2026 | PDF on NSE XBRL |
| Q4 FY26 | Consolidated · audited | 20 May 2026 | PDF on NSE XBRL |
| Q4 FY26 | Standalone · audited | 20 May 2026 | PDF on NSE XBRL |
| Q3 FY26 | Consolidated | 9 Feb 2026 | PDF on NSE XBRL |
| Q3 FY26 | Standalone | 9 Feb 2026 | PDF on NSE XBRL |
| Q2 FY26 | Consolidated | 6 Nov 2025 | PDF on NSE XBRL |
| Q2 FY26 | Consolidated | – | PDF on NSE XBRL |
| Q2 FY26 | Standalone | – | PDF on NSE XBRL |
| Q2 FY26 | Standalone | 6 Nov 2025 | PDF on NSE XBRL |
Annual reports
NSE archiveKey ratios
P/E (TTM)5Y avg 83.2×-8.5×
P/B5Y avg 2.68×0.82×
ROEFY26, on average equity-9.1%
Net margin-50.4%
Debt / equity0.53×
Revenue CAGR (3Y)43.4%
Profit CAGR (3Y)–
EPS (TTM)₹-6.79
Market cap₹8,072 Cr
Computed from the filings and the last close. Market cap uses the latest share count from the balance sheet.
P/B vs history
0.82×
vs 8-point avg 2.68× (−69%)
0.56× low2.68× avg5.85× high
History points are balance-sheet dates (2022 → 2026), priced at the adjusted close on each date.
Balance sheet 31 Mar 2026
Total assets₹21,538 Cr+5%
Net worth₹9,868 Cr+6%
Total borrowings₹5,218 Cr+15%
Cash & bank balances₹779 Cr+335%
Investments₹134 Cr+94%
Inventories₹12,433 Cr+3%
Trade receivables₹23 Cr−56%
Trade payables₹932 Cr+3%
Change vs the same date a year earlier.
Revenue mix FY20
Real estate development and related activities100.0%result ₹403 Cr
Segment revenue as reported, before inter-segment eliminations.