Modis Navnirman reported a 27.92% YoY revenue increase to Rs 58.26 crore and 25.81% PAT growth to Rs 8.54 crore in Q1 FY27. A new project has commenced, and a pipeline of Rs 800 crore GDV is planned.
Modis Navnirman Q1 FY27 Results: Robust Growth Driven by Redevelopment Focus
**Revenue: Rs 58.26 crore (up 27.92% YoY)** **PAT: Rs 8.54 crore (up 25.81% YoY)** Reader Takeaway: Strong revenue and profit growth, but watch margin pressures and project execution. ## What just happened Modis Navnirman Ltd announced its financial results for the first quarter of FY27 (ended June 30, 2026). The company reported a significant year-on-year increase in both revenue and profit. Revenue from operations rose by 27.92% to Rs 58.26 crore, compared to Rs 45.54 crore in the same period last year. Profit After Tax (PAT) saw a substantial jump of 25.81%, reaching Rs 8.54 crore from Rs 6.79 crore in Q1 FY26. Basic Earnings Per Share (EPS) improved to Rs 4.36 from Rs 3.47. ## Why this matters This performance indicates healthy demand for the company's projects, particularly in the Mumbai redevelopment market. The consistent growth in top-line and bottom-line figures suggests effective project execution and sales momentum. The commencement of a new project and a strong future pipeline provide visibility for sustained growth. ## The backstory Modis Navnirman focuses on an asset-light redevelopment model. The company's strategy centers on deepening its presence within the Mumbai region. Recent project sales show varying degrees of progress, with 'Rashmi Square' being the most sold at approximately 80% completion. ## What changes now The company has commenced a new project, 'Neel Kiran Society' in Santacruz West. It also confirmed a pipeline of four upcoming projects with an estimated Gross Development Value (GDV) of Rs 800 crore. Management expects 'Rashmi Paradise' to start this quarter, followed by 'Rashmi Gold & Sheetal' and a 'Khar Project' in subsequent quarters. One project, 'Rashmi Govind Dalvi', is on hold due to government restrictions. ## Risks to watch While growth is strong, EBITDA margins moderated to approximately 19.8% from 22.3% in the previous year. This was attributed to increased material costs and labor shortages due to the 'war situation' during April-May. Management expects margins to stabilize in the 19%-20% range, but any further cost escalations or execution delays could impact profitability. ## Peer comparison (No direct peer comparison data available in the filing.) ## Context metrics (time-bound) * Q1 FY27 Revenue: Rs 58.26 crore (up 27.92% YoY) * Q1 FY27 PAT: Rs 8.54 crore (up 25.81% YoY) * EBITDA: Rs 11.65 crore (up 14.25% YoY) * EBITDA Margin: ~19.8% (down from 22.3% in Q1 FY26) * Future Pipeline GDV: ~Rs 800 crore ## What to track next Investors should monitor the progress of new project launches, sales velocity across existing projects, and the company's ability to maintain its projected EBITDA margins in the face of potential cost pressures.
