Ashiana Housing (523716) Q1 25/26 earnings summary

Executive summary

• Q1 FY26 saw steady operational progress with strong sales, robust cash flow, and higher sales volumes, supported by new project launches in Bhiwadi and Jaipur and handovers in Gurugram and Chennai.

• Value of area booked reached ₹430.97 Cr, up from ₹235.32 Cr in Q1 FY25, with average realization price rising to ₹7,245 per sq ft.

• Unaudited consolidated and standalone financial results for Q1 FY26 were reviewed and approved by the Board on 12 August 2025, with no material misstatements identified.

Financial highlights

• Total revenue for Q1 FY26 was ₹302.72 Cr, up from ₹128.51 Cr in Q1 FY25 and ₹229.48 Cr in Q4 FY25.

• PAT for Q1 FY26 was ₹12.72 Cr, reversing a loss of ₹5.45 Cr in Q1 FY25, but lower than ₹20.34 Cr in Q4 FY25.

• Pre-tax operating cash flow was ₹108.10 Cr in Q1 FY26.

• EBITDA margin for Q1 FY26 was 7.20%, and net profit margin stood at 4.20%.

• Consolidated net profit for Q1 FY26 was ₹1,272 lakh, compared to a net loss of ₹545 lakh in Q1 FY25.

Outlook and guidance

• Margin profile expected to improve in FY26 as low-margin projects phase out, with further improvement in FY27.

• Cumulative revenue guidance for FY26-FY30 is ₹10,000-12,000 Cr with expected cumulative profit of ₹2,000 Cr, implying an 18% margin profile.

• Revenue of ₹4,682.43 Cr is locked in over the next 3-4 years from ongoing projects, with an additional unsold value of ₹1,318.98 Cr.

• Senior living segment targets ₹1,000 Cr+ pre-sales in the medium term, with FY26 target at ₹500 Cr on track.

• Future projects with a total saleable area of 34.47 lakh sq ft are planned across key cities.