Full-year pre-sales of ₹21,000 crore maintained
H1 achieved 43% of full-year guidance at ₹9,000 crore; management targets run rate escalation to high ₹50s or low ₹60s crore per quarter to meet annual target.
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growth
H2 pre-sales guidance of ₹12,000 crore
₹7,000-7,500 crore expected from non-launch sales with ₹4,000-4,500 crore from launches; infrastructure (Aroli-Mulund freeway) completion next quarter will benefit Palava residential next fiscal.
Palava data center land values at ₹30 crore/acre
New land transactions expected at ~₹30 crore/acre versus ₹0.21 crore previously; total balance land (~400 acres) valued at ~₹10,000 crore; government incentives under Maharashtra Green Digital Infrastructure Policy exceed $1 billion.
NCR pilot launch in Gurugram in FY27
Initial focus likely in Gurugram with other NCR locations under evaluation; follows standard model of pilot phase (2-3 years) before scaling up as done in Pune and Bangalore.
FY26 Pre-sales Target: Rs 21,000 crore
9-month pre-sales of Rs 14,600 crore represents 70% achievement; company expects to meet full-year guidance driven by strong Q4 launch pipeline of Rs 12,000 crore.
Embedded EBITDA Margin: ~33% for FY26
Management reaffirms ~33% embedded EBITDA margin target with ~20% ROE on TTM basis, consistent with medium-term outlook.
OCF Guidance Revised to Rs 70 billion (~/-5%)
Operating cash flow guidance lowered from Rs 77 billion to Rs 70 billion due to environmental clearance delays and construction timeline extensions of 4-6 months at certain sites.
Bangalore FY26 Sales: Rs 2,500+ crore
After completing pilot phase, Bangalore is now in growth phase with full-year sales expected to exceed Rs 2,500 crore, demonstrating rapid scaling capability in new markets.