Ashiana Housing Limited has released the transcript for its Earnings Conference Call held on May 29, 2026, discussing the company's performance for the quarter and year ended March 31, 2026. The company reported significant operational highlights for Q4 FY26, with a booking value of ₹1,290 crores, marking a sequential growth of over 225% and a year-on-year growth of 124%. This surge was largely attributed to the successful launch of Ashiana Aaroham Phase-I and Phase-II in Gurugram, contributing ₹833 crores to the booking value. Average realization per square foot improved by 71% year-on-year to ₹11,566, driven by higher prices in the Gurugram launch. Execution momentum remained strong, with area constructed increasing by 60% year-on-year to 6.65 lakh square feet. Pre-tax operating cash flow for the quarter was ₹167 crores, a 7% increase year-on-year. In terms of business development, Ashiana Housing expanded its Senior Living portfolio by acquiring 8.83 acres of land in Raigad, Maharashtra, with an estimated sales potential of ₹450 crores, and entered into an agreement for another land parcel in Panvel, Maharashtra, with an estimated sales potential of ₹1,000 crores. For the full year FY26, the company achieved its highest ever booking value of ₹2,421 crores, a 25% year-on-year increase. The Senior Living segment recorded record bookings of ₹570 crores, a 55% year-on-year growth. Customer collections reached an all-time high of ₹1,762 crores. The company also strategically acquired land for Senior Living projects in Chennai and Maharashtra, adding development potential of over 26 lakh square feet with an estimated sale potential of ₹3,200 crores. Ashiana Aaroham Gurugram received funding support through ₹100 crores of listed unsecured redeemable NCDs. A long-term dispute related to Project Maitri Kolkata was settled, resulting in ₹18.5 crores received. Financially, total income for Q4 FY26 stood at ₹335 crores, a 46% year-on-year increase. EBITDA was ₹35 crores, up 19% year-on-year, with an EBITDA margin of 10.43%. PAT was ₹21 crores, with a margin of 6.26%. For the full year FY26, total income rose to ₹1,187 crores, EBITDA increased by 281% year-on-year to ₹176 crores with an EBITDA margin of 14.85%, and PAT stood at ₹118 crores compared to ₹18 crores in FY25, with PAT margin improving to 9.93%. Pre-tax operating cash flow for FY26 was ₹577 crores, a 34% year-on-year growth. During the Q&A session, management discussed strategic levers for FY27, including growing the Senior Living portfolio across markets with multiple price points and strengthening existing Tier-2/3 markets. They addressed construction cost inflation, emphasizing faster execution and disciplined compliance. Capital allocation will focus on profitable growth, prioritizing ROE and GP margins, with increasing allocation towards the Senior Living segment. The company is not land-banking and finances construction primarily through customer advances. They are expanding their land bank to ensure sustained growth, targeting approximately 96 lakh square feet of developable area, which is about 4x their current annual throughput, and plan to add more land, particularly in the Senior Living segment. Management indicated a preference for reinvesting profits into business growth over buybacks or large dividends, although absolute dividends are expected to grow. The termination of the lease for a project in Mahindra World City, Jaipur, was due to delays in approvals, while the Aaranya project in MWC Chennai is proceeding. The company anticipates continued growth in Senior Living, aiming for it to become a significant part of the business, and expects margins to improve in FY27 and FY28. They are exploring partnerships for assisted living services to enhance their Senior Living offerings. The company is targeting pre-sales of ₹2,200 crores for FY27, with Senior Living targeted to cross ₹700 crores.
