Modis Navnirman Ltd

Modis Navnirman Limited reported strong financial results for Q2 and H1 FY27, with revenue from operations increasing 53% year-on-year to INR127.64 crores and EBITDA rising 63% to INR26.19 crores. PAT grew 59% to INR19.08 crores, with margins improving across all metrics. The company highlighted sales momentum, with 78,560 square feet sold in H1, generating INR202 crores in sales value. Ongoing projects include 6 developments with a total area of 29.83 lakh square feet, with 14 completed projects and 5 new residential-cum-commercial projects in the pipeline. Management emphasized disciplined execution, cost management, and focus on redevelopment partnerships with housing societies. The company noted that cash flow remains negative due to inventory buildup but expects to turn positive in FY28. EBITDA margins are expected to improve as material costs stabilize and projects near completion. The company plans to launch Rashmi Paradise in October with a realization rate of INR27,000-30,000 per square foot. Management guided toward maintaining a debt-free strategy, with annual GDV targets of INR500 crores. The company faces no major execution risks, with projects on track for completion by March 2027.

The document emphasizes strong financial growth, margin improvements, and positive outlook on future projects and execution.