According to the latest unaudited financial results approved by the board on September 11, 2026, Horizon Industrial Parks reported a consolidated net loss of ₹116.3 crore for Q1 FY27, representing a significant improvement from the net loss of ₹655.0 crore recorded in the corresponding quarter of the previous year. The company demonstrated strong operational performance with revenue from operations rising 23.1% to ₹2,005.5 crore in Q1 FY27, compared to ₹1,629.4 crore in Q1 FY26. The figures have been reviewed by statutory auditors M S K C & Associates LLP and S G C O & Co. LLP, who issued an unmodified opinion.
The company's EBITDA expanded 36% to ₹1,610 crore with margins improving to 80% in Q1 FY27, compared to 73% in the same period last year. This operational strength was driven by higher asset utilization and controlled corporate overheads. The profit before tax (PBT) reached ₹634.8 crore, driven largely by other income of ₹770.9 crore compared to ₹178.9 crore in Q1 FY26. The profit before depreciation and tax (PBDT) improved substantially to ₹69.63 crore from a loss of ₹5.91 crore in the corresponding quarter of the previous financial year. The profit before tax (PBT) turned positive at ₹6.91 crore in Q1 FY27, marking a significant turnaround from the PBT loss of ₹57.78 crore recorded in Q1 FY26.
A major milestone during the quarter was the completion of the IPO and subsequent deleveraging. The company raised ₹26,000 crore through the IPO and ₹16,500 crore in pre-IPO funding, totaling ₹42,500 crore in equity raised. This capital infusion allowed the group to reduce net debt from ₹49,700 crore as of June 2026 to a proforma level of ₹24,752 crore. Consequently, the net debt-to-enterprise value ratio fell to 12.5%, based on IPO valuation. Management expects this deleveraging to positively impact credit ratings and reduce interest costs going forward.
According to the latest financial data, Horizon Industrial Parks achieved sales of ₹2,005.5 crore in Q1 FY27, representing a 23.1% increase from ₹1,629.4 crore in Q1 FY26. The company signed leases for 1.9 million square feet (msf) across diverse customers and industry segments, adding nine new customers. Key leasing wins included agreements with Apollo Tyres, Delhivery, Iron Mountain, Recykal, Rane, Piinacle, Bitzer, SSC Sugiura Seisakusho, Veer-O-Metals, and Instec India. The contracted revenue run-rate stands at ₹9,670 crore, backed by 29.3 msf of contracted area including pre-leases. Development throughput reached 0.9 msf in the quarter, with four buildings delivered.
