Grovy India Q2 net profit jumps 436 pc to Rs 2.01 crore
New Delhi, Nov 3 (TNT): BSE-listed real estate developer Grovy India Ltd on Tuesday reported a 436 per cent jump in net profit to Rs 2.01 crore for the quarter ended September 2026, compared to Rs 37.63 lakh in the corresponding quarter of the previous fiscal.
The company’s revenue from operations increased 75 per cent to Rs 27.17 crore in the second quarter of FY27, against Rs 15.52 crore in the year-ago period, supported by improved project execution and margins.
In a release, the company said it had expanded its development pipeline in South Delhi to 2.48 lakh sq ft across ongoing and future projects.
Of this, 1.83 lakh sq ft of residential space is currently under development in premium South Delhi localities, including Greater Kailash, Hauz Khas, Anand Niketan, Neeti Bagh, Defence Colony and Gulmohar Park. These projects are expected to be delivered between the third quarter of FY27 and the fourth quarter of FY28.
Its future project pipeline includes developments in Safdarjung Enclave, Anand Niketan and Defence Colony.
Grovy India is also undertaking three projects in collaboration with Golden Growth Fund, a Category II real estate-focused Alternative Investment Fund.
Company Director Ankur Jalan said the growth in revenue and profitability reflected improved operational efficiency, disciplined project execution and strengthening of its presence in the South Delhi real estate market.
The company plans to scale up its execution capacity to 20-25 projects annually over the next three years by exploring further collaborative developments, he said.
Grovy India raised Rs 15.01 crore in August 2026 through a preferential issue as part of its Rs 40 crore fund-raising target for FY27. The remaining Rs 25 crore is being pursued subject to market conditions, project requirements and statutory approvals.
The company is also planning to list on the National Stock Exchange over the next three years, subject to market conditions and regulatory approvals, to improve liquidity and broaden its investor base, Jalan added.
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