• Quarterly results: Revenue rose 53%, operating profit more than doubled from ₹50 crore to ₹107 crore, margins increased from 29% to 40%, and profit rose 78%, according to the host’s recap.
• Redevelopment model: Management said its redevelopment and joint-development model is distinct from that of a typical developer, and that its products—including the recently launched 12-project luxury coastline collection—are receiving a good response.
• Sales realization: For the half-year, revenue was approximately ₹70,000 per square feet, which management said is among the highest in the country.
• Project pipeline: The company has 8 ongoing projects, plans to launch 4 in the second half, and expects to launch around 8 to 9 projects next year.
• Demand and funding: Management sees very good demand in Mumbai for luxury and ultra-luxury homes. The company remains net debt-free with positive cash; projects are completed in around 2.5 to 3.5 years, about 60% of product sales come from references, and marketing and brokerage costs are low.