Ganesh Housing Ltd (GANESHHOU) Q2FY27 Concall Summary - Sep-2026 Qtr
Key Takeaways
- Management reaffirmed FY27 guidance of 1,000-1,200 crore revenue and 300-325 crore PAT, implying a heavily back-ended year reliant on Q4 project handovers and land sales.
- Million Minds Tower 1 has a contracted annual rent roll of 55.7 crores, with a fully leased potential of 84 crores, 20% above initial estimates.
- The next major growth drivers are the launch of Million Minds Residential Phase 1 (GDV 500 crores) in Q4 FY27 and Tower 2 construction starting November 2026.
Performance Overview
- Delivered strong sequential performance with a 59% rise in Profit After Tax (PAT) and a significant recovery in EBITDA margins to 80.7% in Q2 FY27.
- Achieved significant leasing momentum at the Million Minds Tower 1 project, with 68.4% of leasable area now let, up from 43% in the previous quarter.
- Advanced the Malabar Retreat residential project, which is now 87% complete and has achieved 53% booking by carpet area.
- Maintained a strong, near-debt-free balance sheet, providing a competitive advantage in a rising interest rate environment.
- Affirmed full-year guidance for FY27, projecting revenues of 1,000-1,200 crores and PAT of 300-325 crores, indicating a strong second half.
Financial Metrics
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Operating Performance / Business Segments
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Key Discussions & Insights
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Outlook and Guidance
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Challenges / Concerns
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Industry / Competitive Landscape
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Overall Summary
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Tone & Disclosure
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