Arihant Foundations’ H1 EBITDA rises 73% as margin reaches 30.2%

Arihant Foundations & Housing Limited reported consolidated H1FY27 EBITDA of Rs 81.99 crore, up 72.8% year on year, as revenue increased 55.2% to Rs 271.66 crore and EBITDA margin expanded 310 basis points to 30.2%. The company disclosed the unaudited results for the half-year ended September 30, 2026, on November 14, 2026.

How did Arihant Foundations perform in H1FY27?

Arihant Foundations recorded Rs 271.66 crore of consolidated revenue in the first half of FY27, compared with Rs 174.98 crore in H1FY26. H1FY27 denotes the first half of financial year 2027, while H1FY26 denotes the comparable prior-year period. The Rs 96.68 crore increase translated into reported year-on-year revenue growth of 55.2%.

Earnings before interest, tax, depreciation and amortisation, or EBITDA, rose faster than revenue. Arihant Foundations reported H1FY27 EBITDA of Rs 81.99 crore, versus Rs 47.46 crore in H1FY26, an increase of Rs 34.53 crore or 72.8%. Its reported EBITDA margin was 30.2%, compared with 27.1% a year earlier.

Profit before tax, or PBT, reached Rs 61.86 crore in H1FY27, up from Rs 43.21 crore in H1FY26. Profit after tax, or PAT, was Rs 47.50 crore, compared with Rs 31.77 crore. These figures represent reported growth of 43.2% in PBT and 49.5% in PAT, both below EBITDA’s 72.8% increase.

Why did Arihant Foundations’ EBITDA margin increase?

Arihant Foundations’ H1FY27 EBITDA margin increased to 30.2% from 27.1% in H1FY26, a gain of 310 basis points, where 100 basis points equal one percentage point. Since EBITDA grew 72.8% while revenue grew 55.2%, EBITDA growth exceeded revenue growth by 17.6 percentage points over the two half-years.

Management linked the Q2FY27 improvement to the efficiency and strength of its operating model. It said revenue remained at the preceding quarter’s level while profitability improved, although the release did not provide a cost breakdown, project-level margins, or individual drivers of the H1 margin increase.

The half-year result included a higher-margin second quarter. Q2FY27 EBITDA margin was 32.3%, which was 4.5 percentage points above Q1FY27’s 27.8% and 3.2 percentage points above Q2FY26’s 29.1%. This made the quarterly margin higher than the H1FY27 average of 30.2%.

The relationship between operating profit and net profit also changed across the income statement. H1FY27 PAT grew 49.5%, less than the 72.8% rise in EBITDA, while PBT rose 43.2%. The presentation gives the reported PBT and PAT totals but does not set out the intervening finance costs, depreciation, tax expense, or other items needed to explain the different growth rates.

What changed in Arihant Foundations’ Q2FY27 results?

Arihant Foundations posted Q2FY27 consolidated revenue of Rs 135.49 crore, almost unchanged from Rs 135.67 crore in Q1FY27, a reported sequential decline of 0.1%. Against Q2FY26 revenue of Rs 90.09 crore, however, Q2FY27 revenue grew 50.4%, or Rs 45.40 crore.

Quarterly EBITDA was Rs 43.76 crore in Q2FY27, compared with Rs 37.73 crore in Q1FY27 and Rs 26.25 crore in Q2FY26. That represented sequential growth of 16.0% and year-on-year growth of 66.7%. The margin rose from 27.8% in Q1FY27 to 32.3% in Q2FY27, despite revenue being broadly flat quarter on quarter.

Below EBITDA, the sequential direction was different. Q2FY27 PBT of Rs 30.10 crore was 3.7% below Q1FY27’s Rs 31.27 crore, while PAT of Rs 22.92 crore was 4.9% below Rs 24.09 crore. Compared with Q2FY26, PBT rose 21.0% from Rs 24.88 crore and PAT rose 14.3% from Rs 20.05 crore.

Management described Q2FY27 revenue as sustained at the previous quarter’s level and said the quarter reflected consistency in the business. The figures show that the Rs 6.03 crore quarter-on-quarter EBITDA increase occurred alongside a Rs 0.18 crore revenue decrease, but the release does not disclose whether the margin movement reflected project mix, construction costs, recognition timing, or another factor.

What operating updates and launch plans did Arihant Foundations disclose?

Arihant Foundations reported Q2FY27 pre-sales of Rs 194 crore, area sold of 1.60 lakh square feet, and collections of Rs 78 crore. These operating data relate to the quarter ended September 30, 2026, whereas the reported consolidated Q2FY27 revenue was Rs 135.49 crore, so the presentation separately identifies bookings, collections, and recognised revenue.

Management said multiple large residential projects had received approvals or were nearing final approval as of the November 14, 2026 announcement. It expects to launch these projects during the current financial year and said this would position the company for sustained growth in sales bookings and revenue. That expectation is management’s forward-looking statement rather than a disclosed launch date or financial target.

The disclosed ongoing project portfolio had a gross development value, or GDV, of Rs 11,121 crore and covered about 7.8 million square feet. The portfolio includes luxury residential, commercial, senior living, and plotted developments, giving Arihant Foundations exposure to several real-estate segments while leaving the timing and contribution of individual projects unspecified.

Arihant Foundations described itself as Chennai-based and said it has delivered more than 25 million square feet over more than four decades. For the current results, the immediate disclosed operating markers are Rs 194 crore of Q2FY27 pre-sales and Rs 78 crore of collections, rather than a full-year booking target or a segment-wise sales split.

Conclusion

Arihant Foundations’ H1FY27 figures show EBITDA growth of 72.8% outpacing revenue growth of 55.2%, with the consolidated margin increasing to 30.2% from 27.1%. The Q2FY27 margin of 32.3% also exceeded both Q1FY27’s 27.8% and Q2FY26’s 29.1%, although PBT and PAT declined sequentially from Rs 31.27 crore and Rs 24.09 crore, respectively.

The next disclosed item to watch is management’s plan to launch multiple large residential projects during FY27 after approvals or final approvals. Investors can also track whether quarterly pre-sales, which were Rs 194 crore in Q2FY27, collections of Rs 78 crore, and the EBITDA margin remain aligned with the company’s stated expectation of growth in sales bookings and revenue.