Horizon Industrial Parks Ltd (HORIZONIND) Q2FY27 Concall Summary - Sep-2026 Qtr
Key Takeaways
- Management reaffirmed its 6.5 million sq ft FY27 leasing target, having already achieved two-thirds, but signaled Q3 closures might be slower due to holidays.
- The first in-city project in Pune will launch in Q4, with management confirming tenant interest at rental rates 2x-3x higher than their standard parks.
- Post-IPO deleveraging has created a strong balance sheet, with pro forma H1 cash PAT of INR 248 crores, enabling growth to be funded via internal accruals.
Performance Overview
- Horizon Industrial Parks reported its strongest quarter to date with record revenue and EBITDA for Q2 FY27.
- The company's contracted revenue run rate has surpassed the INR 1,000 crores milestone.
- Leasing momentum was robust, with 2.5 million square feet leased in Q2, achieving two-thirds of the annual target in the first half.
- Development activities are on track to deliver 6 million square feet for the fiscal year, which will expand the operational area to nearly 35 million square feet.
- The balance sheet has been significantly strengthened, with net debt reduced from INR 4,967 crores to INR 2,765 crores post-IPO.
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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