Modis Navnirman earnings calls.

Modis Navnirman delivered a landmark FY26Current reported value: 26. No comparable prior figure is available in the source record. with 84% revenue growth to Rs 188.89 croreCurrent reported value: 84% revenue growth to Rs 188.89 crore. No comparable prior figure is available in the source record. and 35% EBITDA growth to Rs 38.46 croreCurrent reported value: 35% EBITDA growth to Rs 38.46 crore. No comparable prior figure is available in the source record., driven by strong execution on projects including Rashmi Vasuv OC and Rashmi Celestia completion. PAT rose 26% to Rs 29.14 crore. Q4 standalone revenue of Rs 51.49Current reported value: 51.49. No comparable prior figure is available in the source record. crore represented 158% YoY growth. However, EBITDA margins compressed approximately 754 bps YoY to ~20.4% due to raw material cost inflation impacting Rashmi Square and Rashmi Signature, along with initial construction costs for newly launched Rashmi Icon and Rashmi Avenue. Management characterizes this margin pressure as temporary, expecting stabilization in FY27 as these projects progress. The company maintains its debt-free, asset-light model with 7.5 lakh sq ftCurrent 7.5 lakh sq ft. Reported change: +4 new projects added. portfolio (4.92 lakh booked, 2.43 lakh available inventory). New project pipeline includes Rashmi Sheetal, Rashmi Gold, and upcoming projects in Khar targeting Rs 45,000-50,000 per sq ft pricing. Risks include raw material cost volatility, slower sales traction in early-stage projects, and intensifying competition in Mumbai's redevelopment market.