Ashiana Housing (523716) Q1 26/27 earnings summary

Executive summary

• Residential demand softened in Q1 FY 2027 due to global uncertainties, but the medium to long-term outlook remains positive with resilient pricing and continued project launches.

• The company has over 45 years of experience, a strong presence in 8 cities, and is recognized as India's No.1 Senior Living Brand, focusing on senior living, kid-centric, premium, and elite homes.

• Premiumization and a shift toward organized, branded developers are ongoing trends, with senior living remaining insulated from broader market fluctuations.

• Asset-light, disciplined growth strategy with integrated capabilities across land acquisition, development, construction, and community management.

• Unaudited standalone and consolidated financial results for Q1 FY27 show continued profitability and growth in both revenue and net profit year-over-year.

Financial highlights

• Q1 FY27 revenue from operations was INR 107 crores, down from INR 293 crores in Q1 FY26 due to timing of project handovers.

• Booking value for Q1 FY27 was INR 358 crores, with 3.6 lakh sq ft sold across 234 units.

• Collections reached INR 409 crores, up 6% year-over-year, indicating strong collection efficiency.

• PAT for Q1 FY27 was INR 13 crores, up 3% year-over-year.

• Average realization improved 37% year-over-year to INR 9,923/sq ft, driven by favorable product mix and pricing resilience.

Outlook and guidance

• Full-year sales expected to reach INR 2,200 crores, with H1 sales projected between INR 1,050 and INR 1,100 crores.

• Revenue of INR 7,681.77 crores already locked in over the next 3-5 years from ongoing projects, with an additional unsold value of INR 1,497.94 crores.

• Major launches, including Ashiana Aaroham phase 3 in Gurgaon, are expected in H2 to drive bookings.

• Pre-sales growth may dip in the near term due to inventory constraints, but a long-term CAGR of 25% is targeted in senior living.

• ROE is expected to remain above 15%, with potential to exceed 20% in the near term.