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A source-linked quarter view: reported numbers, management language, guidance, and the risks that should carry forward.
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Revenue
₹43 Cr
verified against source
Revenue YoY
—
reported change
EBITDA
₹19.8 Cr
latest reported figure
Source
screener in
record provenance
Actual signal trajectory
Where this quarter sits.
Quarter read
What the record says.
Eldeco Housing reported a steady Q3 FY26 with consolidated EBITDA of ₹19.8 crore (43.7% margin) and PAT of ₹13.7 crore (30.2% margin). No new launches occurred in Q3, but the much-awaited Solano Gardens (GDV >₹1,000 crore) launched in January 2026, with strong initial response. 9-month bookings reached ₹361.2 crore, already surpassing FY25 full-year bookings, driven by sustained sales in ongoing projects and a robust Lucknow market. Collections grew 43% YoY to ₹255 crore in 9M. Management guided for FY26 to be the best-ever booking year, targeting a new normal of ~₹500 crore annual bookings. Risks include potential slowdown in Lucknow real estate if affordability is stretched, and delays in approvals for upcoming projects.
Colored figures show movement against the previous available record.
Guidance to track
- Management expects FY26 to surpass all previous years in sales bookings, driven by Solano Gardens launch.
- On a blended basis over many years, EBITDA margin expected to be around 30%, with near-term higher due to Imperia Phase 2.
- Post Q3, Solano Gardens launch saw strong response; ~₹350 crore booked as EOI, to convert to allotments next quarter.
Risks flagged
- Management cautioned that overpricing could hurt affordability; market is strong but must avoid going beyond common man's reach.
- Several projects await RERA approvals; any delay could impact launch pipeline and growth trajectory.
- Analyst raised concerns about related party loan and cash stuck in RERA accounts; management clarified loan repaid but cash flow remains constrained.
Key quotes
- The market for quality homes at reasonable prices is only expanding because of the accumulated increase in wages across board over the years and real estate prices had not risen that much.
- We have already surpassed the sales bookings achieved in the entire financial year 25 both in terms of value and in area.
- Hopefully this November should become the new normal.
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