• Quarterly results: Revenue increased 53%, operating profit more than doubled from ₹50 crore to ₹107 crore, margins rose from 29% to 40%, and profit increased 78%.
• Redevelopment model: Management attributed the strong results to its redevelopment and joint-development model and good response to its products, including its recently launched 12-project luxury coastline collection.
• Realizations and launches: Half-yearly revenue was approximately ₹70,000 per square foot, which management described as among the highest in the country. It has 8 ongoing projects, plans to launch 4 in the second half, and expects to launch around 8 to 9 projects next year.
• Luxury demand: Management said demand for luxury, uber-luxury and ultra-luxury homes is very good across Mumbai, with buyers increasingly preferring these segments over ordinary housing.
• Cash and costs: The company remains net debt-free and cash-positive. Management said projects are completed in around 2.5 to 3.5 years, roughly 60% of sales come through references, and marketing and brokerage costs are low.