Ganesh Housing Corporation Limited , a prominent real estate developer in Ahmedabad, reported a 30% year-on-year decline in quarterly revenue to ₹151.00 crores. Despite the revenue drop, the company showcased resilience with improved EBITDA margins and a robust project pipeline.

Financial Performance

The company's Q1 financial results revealed:

• Revenue: ₹151.00 crores (down 30% YoY)
• EBITDA margin: Improved to 85% from 71% in the previous year
• PAT (Profit After Tax): ₹93.00 crores, compared to ₹114.00 crores in the previous year
• PAT margin: Widened to 61.60% from 51.60% YoY

Project Updates

Malabar Retreat

• Premium residential project
• 43% construction completed
• Sample flats ready for viewing
• Experiencing increased footfall since opening show units

Million Minds SEZ Phase 1

• Ahead of schedule
• 80% of leasable area under active discussions or concluded
• Expected lease income to start from Q3-Q4
• Anticipated rentals around ₹70-75 per square foot

Godhavi Township

• 10 acres sold during Q1 at ₹30,000 per square foot
• Majority of Q1 income derived from this project

One Thaltej

• Commercial project of 1.8 million square feet
• In final approval stages
• Estimated lifetime revenue of ₹2,100.00 crores

Strategic Position

Ganesh Housing maintains a strong financial position with negligible debt and a robust cash position. The company's land bank spans 525 acres, providing ample opportunities for future development.

Management Commentary

B. Ravi, Corporate and Financial Advisor, stated during the earnings call, "Q1, if I may say, it was a quarter of stabilization. While the macro indicators including the repo rate, expectations, cost of capital and urban consumption remained relatively benign, the real estate market in Ahmedabad saw a somewhat cautious sentiment."

He added, "Ahmedabad has cemented its position as Gujarat's real estate powerhouse. The city now accounts for 42% of all real estate investments in the state as per recent reports and leads in both residential and commercial development."

Future Outlook

Despite the muted Q1 performance, the management remains optimistic about the company's prospects. They expect stronger momentum from Q2 onwards, particularly as the festive season approaches. The company continues to focus on timely project execution, revenue diversification, and capital efficiency.

Corporate Developments

In a separate announcement, Ganesh Housing Corporation Limited informed that shareholders have approved changing the company's name to "Ganesh Housing Limited" through a special resolution passed via postal ballot. This change, along with consequent alterations to the Memorandum and Articles of Association, reflects the company's evolving business focus and brand identity.

As Ganesh Housing navigates through market fluctuations, its diverse project portfolio and strong financial position appear to provide a solid foundation for future growth in the dynamic Ahmedabad real estate market.

Ganesh Housing Corporation Limited, a prominent real estate developer, has released its financial results for the first quarter of FY26, revealing a mixed performance with declining revenue but improved margins.

Financial Highlights

• Revenue: ₹1,510.00 million, down 32% from ₹2,206.00 million year-over-year
• Net Profit: ₹931.00 million
• EBITDA Margin: Improved to 84.80% from 70.50% in the previous year
• PAT Margin: Expanded to 61.60% from 51.60% year-over-year
• EPS: ₹11.16

Detailed Financial Performance

The company's financial results show a significant decline in revenue compared to the same quarter last year. However, the improved EBITDA and PAT margins suggest enhanced operational efficiency despite the overall revenue decrease.

Key Highlights

• The company has maintained a net debt-free status for over 3 years.
• Malabar Retreat project is at 43% completion.
• Million Mind Tech Park Phase 1 is nearing 90% completion.
• One Thaltej project, with 1.8 million square feet saleable area, has been added to the pipeline. It is currently in the plan processing stage, with construction expected to start post-monsoon.

Future Outlook

While Ganesh Housing Corporation has experienced a decline in revenue, the improved margins and ongoing projects suggest a focus on profitability and strategic growth. The addition of the One Thaltej project to the pipeline indicates continued expansion efforts.

Investors and stakeholders will be watching closely to see how the company performs in the coming quarters, particularly in light of its improved operational efficiency and new project developments.

Note: All financial figures are subject to review by the company's statutory auditors.