Net profit fell 62% from ₹405 crore last year to ₹154 crore, a sharp contraction that pushed the stock 5.5% lower to ₹1,478.4 on the BSE. Revenue, however, more than doubled to ₹1,935 crore from ₹740 crore YoY, and EBITDA loss held steady at ₹469 crore, down from ₹513 crore.
Collections for the September quarter rose 31% YoY to ₹5,318 crore, 22% sequentially, and the first‑half total hit ₹9,666 crore. With a projected ₹15,000 crore for H2, the company still comfortably exceeds its ₹24,000 crore annual guidance.
Operating cash flow surged 297% sequentially to ₹1,584 crore, 33% higher YoY, bringing the half‑year figure to ₹1,983 crore. Management forecasts about ₹7,000 crore for the second half, keeping free cash flow positive.
Area sold dipped 13% to 6.2 million sq ft, while booking value fell 6% YoY to ₹8,008 crore. The firm still expects second‑half bookings between ₹22,500 and ₹25,000 crore, targeting 15–20% year‑on‑year growth.
Sustenance sales accounted for 63% of bookings, with a 38–40% five‑year CAGR projected. The pipeline—spanning Bandra, Gurugram, Thane, Vikhroli, Noida, and others—underpins the FY outlook, even as the shares hover near the 52‑week low of ₹1,434.