• IPO proceeds allocation: Out of the fresh capital raised, ₹145 crore will be utilized for MCGM premiums and society expenses, ₹91 crore for debt repayment, and the remainder for general corporate purposes.
• Project delivery pipeline: From a 5 million square feet developable area, 1.4 million square feet has been delivered, 1.6 million is under construction, and 1.9 million is set to begin within 12 to 18 months, with the ongoing and upcoming phases delivering over the next 3 to 4 years.
• Cash flow trajectory: High upfront investments across 21 under-construction projects currently constrain cash generation, but management expects net cash flows to improve between FY25 and FY26 and turn significantly positive as these projects are completed.
• Leverage and debt: The company intends to keep its debt-to-equity ratio below 1 even as it scales operations, with expectations for the leverage profile to continue improving over time.