Valor Estate Q2 FY27 Results: Consolidated Net Profit ₹8.38 Crore on Total Income of ₹171 Crore
- Earnings
- Real estate
Reviewed byRachit TripathiBlacklitt Research
Valor Estate (NSE: DBREALTY) reported consolidated total income of ₹171.25 crore and net profit of ₹8.38 crore for the quarter ended 30 Sep 2026. Standalone total income was ₹1.43 crore and the standalone net loss was ₹23.79 crore.
Key highlights
Consolidated
Including its subsidiaries
- Total income: ₹171.25 crore, up 24.9% YoY and 44.5% QoQ
- Net profit and EPS: ₹8.38 crore, down 15.9% YoY; basic EPS ₹0.13 against ₹0.19 a year earlier
- Finance costs: ₹33.97 crore, up 16.7% YoY and 19.8% of total income
Standalone
The company on its own, without its subsidiaries
- Total income: ₹1.43 crore, down 98.0% YoY and 37.6% QoQ
- Net profit and EPS: net loss of ₹23.79 crore, against a profit of ₹55.22 crore a year earlier; basic loss per share of ₹0.44
- Finance costs: ₹25.37 crore, up 271.4% YoY and 59.9% QoQ
Summary
| Particulars | Q2 FY27 | Q2 FY26 | YoY | Q1 FY27 | QoQ |
|---|---|---|---|---|---|
| 171.25 | 137.14 | +24.9% | 118.48 | +44.5% | |
| Revenue from operations | 156.41 | 136.85 | +14.3% | 110.79 | +41.2% |
| Other income | 14.84 | 0.29 | n/a | 7.69 | +93.0% |
| 8.38 | 9.97 | -15.9% | -1.33 | n/a | |
| Finance costs | 33.97 | 29.12 | +16.7% | 30.47 | +11.5% |
| Depreciation | 1.49 | 0.17 | +776.5% | 1.47 | +1.4% |
| Tax expense | -3.84 | 4.42 | n/a | 0.14 | n/a |
| Net profit margin | 4.89% | 7.27% | -2.38 pp | -1.12% | +6.02 pp |
| EPS, basic (₹) | 0.13 | 0.19 | -31.6% | n/a | n/a |
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
Total income rose 24.9% YoY while net profit fell 15.9%: ₹171.25 crore against ₹137.14 crore, and ₹8.38 crore against ₹9.97 crore. Profit before tax was ₹4.54 crore against ₹14.39 crore a year earlier, down 68.5%, and net profit fell by less than that.
Finance costs were ₹33.97 crore, up 16.7% YoY, equal to 19.8% of the quarter's total income. Depreciation was ₹1.49 crore against ₹0.17 crore a year earlier. Previous periods have been reclassified, rearranged and regrouped where necessary to conform to the current presentation.
The statement shows a net tax credit of ₹3.84 crore this quarter, against a tax expense of ₹4.42 crore a year earlier. It also shows a share of loss from joint ventures and associates of ₹59.64 lakh, against a share of profit of ₹1.06 crore a year earlier.
Note 3(b) of the consolidated statement says a wholly owned subsidiary received a MHADA demand for development charges of ₹60.45 crore and interest of ₹52.50 crore. The demand is contested and pending before the Supreme Court. Development charges have been provided and paid, interest has not been recognised pending final adjudication, and management expects the matter to be settled in favour of developers.
| Particulars | Q2 FY27 | Q2 FY26 | YoY | Q1 FY27 | QoQ |
|---|---|---|---|---|---|
| 1.43 | 71.07 | -98.0% | 2.29 | -37.6% | |
| Revenue from operations | 0.00 | 75.55 | n/a | 0.00 | n/a |
| Other income | 1.43 | -4.48 | n/a | 2.29 | -37.6% |
| -23.79 | 55.22 | n/a | -21.69 | -9.7% | |
| Finance costs | 25.37 | 6.83 | +271.4% | 15.87 | +59.9% |
| Depreciation | 1.05 | 0.03 | n/a | 1.04 | +1.0% |
| Tax expense | -3.50 | -0.76 | -360.5% | 0.25 | n/a |
| Net profit margin | -1663.64% | 77.70% | -1741.33 pp | -947.16% | -716.47 pp |
| EPS, basic (₹) | -0.44 | 1.03 | n/a | n/a | n/a |
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
Standalone total income was ₹1.43 crore against ₹71.07 crore a year earlier, down 98.0%. Revenue from operations is printed as a dash for the quarter, against ₹75.55 crore a year earlier. Other income was ₹1.43 crore against a negative ₹4.48 crore.
The standalone result is a net loss of ₹23.79 crore, against a net profit of ₹55.22 crore a year earlier. Standalone profit before tax was a loss of ₹27.29 crore, against a profit of ₹54.46 crore a year earlier, and the basic loss per share is ₹0.44.
Finance costs were ₹25.37 crore, up 271.4% YoY and 59.9% QoQ. The impairment and expected credit loss line is a net credit of ₹10.68 crore this quarter, which the statement describes under Note 3 as provisions on loans, investments, inventories, security deposits and project or land advances.
Inference
The Board approved the acquisition of 9,89,800 Class A shares of Bamboo Hotels and Global Centre (Delhi) Private Limited for ₹596.70 crore, together with an existing outstanding loan of ₹1,058.89 crore from Advent Hotels International Limited, a related party. Shareholders approved it on 19 Apr 2026; lenders' consent is in process and the shares are yet to be transferred.
The consolidated statement also says a subsidiary agreed to acquire 95.22% of Radius Estates and Developers Private Limited for ₹372.83 crore, with completion expected by December 2027 subject to conditions precedent. An advance of ₹65.99 crore had been paid as on 30 Sep 2026.
The filing does not give a reason for the standalone loss this quarter, and does not say how the Bamboo Hotels and Radius payments will be funded.
Filed with BSE on . Reference: Original filing (PDF)
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