Horizon Industrial Parks Swings to Profit in Q2 FY27

Q2 FY27 Revenue: Rs 2,149.87 Million | Q2 FY27 PAT: Rs 139.34 Million

Reader Takeaway: Robust leasing and successful post-IPO deleveraging drive a strong financial turnaround for Horizon Industrial Parks this quarter.

What just happened

Horizon Industrial Parks released its financial results for the quarter ended September 30, 2026, marking a significant return to profitability. The company posted a profit after tax (PAT) of Rs 139.34 million, a sharp recovery from the Rs 760.50 million loss reported in the corresponding period last year. Revenue from operations grew by 30% YoY to Rs 2,149.87 million, reflecting strong underlying demand for industrial space.

Why this matters

The transition from losses to profitability signals the efficacy of the company's recent operational strategies. With 2.5 million square feet of leasing executed in the quarter, the company has now achieved 68% of its leasing targets for the full fiscal year. The successful deleveraging following its August 2026 IPO has also stabilized its balance sheet, with net debt recorded at Rs 27,651 million.

Operational Highlights

Leasing activity remains a core growth driver, with the company adding 8 new customers, bringing its total unique customer base to 130. Development activity is also progressing, with six new buildings delivered in Q2 spanning 1.8 million square feet. Furthermore, the company expanded its strategic footprint by acquiring a 49% stake in Vision Softech Facilities Private Limited for Rs 201.90 million, deepening its service capabilities.

What to track next

Investors should monitor the company's progress on the remaining 32% of its FY27 leasing targets and the performance of newly completed assets. Management remains optimistic about sustained rental growth and absorption, fueled by structural demand in the industrial and logistics real estate sector.