Elevate Campuses Limited reported consolidated revenue from operations of ₹2,191.35 million for the quarter ended June 30, 2026, marking a 31.3% increase YoY.

The company, formerly known as Good Host Spaces Limited, disclosed these unaudited financial results following a board meeting held on October 19, 2026. The statutory auditors, S R B C & Co LLP, issued a limited review report on the consolidated and standalone results in compliance with SEBI Listing Regulations.

Consolidated Financial Performance

The group’s total income rose to ₹2,280.55 million in Q1FY27 from ₹1,760.88 million in the corresponding quarter last year. While top-line growth was robust, net profit declined significantly due to the absence of exceptional items recorded in the previous year.

Note: EBITDA figure represents 'Earnings before depreciation, amortisation, finance costs, exceptional items and tax' as reported in the source.

Segment Analysis

Revenue growth was driven by both student accommodation and K-12 school segments. The K-12 schools segment outside India saw substantial expansion, contributing significantly to the overall revenue mix.

• Student Accommodation (India): Revenue increased to ₹1,147.05 million from ₹1,002.75 million YoY.
• K-12 Schools (India): Revenue dipped slightly to ₹467.70 million from ₹494.97 million YoY.
• K-12 Schools (Outside India): Revenue surged to ₹576.60 million from ₹171.16 million YoY, reflecting strong international operations.

What the Numbers Show

A divergence is visible between operational profitability and bottom-line results. While EBITDA grew 27.1% YoY to ₹1,736.08 million, net profit fell 71.3% to ₹340.58 million. This decline is primarily attributable to exceptional items: Q1FY26 included a gain of ₹1,094.42 million from the sale of a hostel undertaking, whereas Q1FY27 recorded an impairment loss of ₹69.27 million on intangible assets and goodwill. Excluding these non-recurring items, the underlying operational trend remains positive, supported by rising revenue and stable segment results.

Subsequent Events and IPO Details

The company completed its Initial Public Offering (IPO) on September 30, 2026, listing on BSE and NSE. The issue raised ₹21,000.00 million through the issuance of 58.01 million fresh equity shares at ₹362.00 per share.

Key utilization of IPO proceeds includes:

• ₹11,000.00 million for acquisition of Special Purpose Vehicles (SPVs).
• ₹7,500.00 million for investment in existing subsidiaries to repay debt.
• ₹2,500.00 million for general corporate purposes.

Subsequent to the quarter, Elevate Campuses acquired 14 K-12 entities for a cash consideration of ₹11,156.80 million, funded largely by IPO proceeds. These entities have been restated into the financials from October 13, 2023, under common control accounting principles.

Elevate Campuses Ltd saw SBI Mutual Fund increase its equity holding to 7.1799% following the acquisition of 36,74,950 shares through the company's Initial Public Offer (IPO).

The transaction, executed on September 29, 2026, was reported under Regulation 29(1) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. Prior to this allotment, SBI Mutual Fund held 84,25,377 shares, representing 4.9993% of the paid-up share capital. The new acquisition adds 2.1806% to its existing position, crossing the 5% threshold for substantial acquisition disclosures.

Acquisition Details

The shares were allotted as part of the IPO process. The total number of equity shares outstanding for Elevate Campuses remained unchanged at 16,85,31,037 with a face value of ₹1 each, both before and after the acquisition.

Regulatory Compliance

SBI Funds Management Limited filed the disclosure with both the National Stock Exchange of India Limited and BSE Limited. The filing confirms that the acquirer does not belong to the promoter or promoter group. All acquired securities are equity shares carrying voting rights, with no warrants or convertible instruments involved in this specific transaction.

What the Numbers Show

The data reveals a precise crossing of regulatory thresholds. SBI Mutual Fund's pre-acquisition holding of 4.9993% was just below the 5% mark required for certain SEBI disclosures. By acquiring an additional 2.1806% via the IPO, the fund house pushed its total stake to 7.1799%, triggering mandatory reporting under Regulation 29(1). This indicates that the fund was likely accumulating positions up to the threshold prior to the IPO allotment.