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The Quarter story
The two most recent quarterly results, compared side-by-side.
Cash generation improves and the project pipeline expands, but profitability and sales remain cyclical with tighter margins.
Consolidated free cash flow before new investments rose from -₹58 Cr in Q1 FY26 to ₹135 Cr in Q1 2026-27, strengthening liquidity.
Gross profit margin compressed from 34% in Q1 FY26 to 25% in Q1 2026-27, pressuring core profitability.
Upcoming project GDV expanded from ₹9,620 Cr in Q1 FY26 to ₹12,240 Cr in Q4 FY26, securing future revenue visibility.
Joint venture profit share fell from ₹5 Cr in Q1 FY26 to -₹3.9 Cr in Q1 2026-27, highlighting partner performance volatility.
Joint venture collections grew from ₹82 Cr in Q1 FY26 to ₹100 Cr in Q1 2026-27, reflecting steady partner sales execution.
Sales value declined from ₹3,000 Cr in Q1 FY26 to ₹484 Cr in Q1 2026-27, reflecting seasonal booking slowdowns.
Total equity increased from ₹1,377 Cr in Q1 FY26 to ₹1,471 Cr in Q1 2026-27, reinforcing the capital base.
Total ongoing launch area contracted from 19.0 sq ft in Q1 FY26 to 16.7 sq ft in Q4 FY26, reducing near-term supply.
Consolidated closing cash rebounded from ₹172 Cr in Q4 FY26 to ₹219 Cr in Q1 2026-27, improving cash buffers.
Gross external debt rose from ₹567 Cr in Q1 FY26 to ₹651 Cr in Q1 2026-27, requiring active leverage management.