Ashiana Housing September Profit Rises to Rs 51.03 Crore

Ashiana Housing Limited reported consolidated net profit of Rs 51.03 crore for the quarter ended 30 September 2026, up from Rs 27.54 crore a year earlier, as total income rose to Rs 588.32 crore from Rs 176.18 crore. First-half operating cash inflow, however, declined to Rs 35.04 crore from Rs 101.66 crore.

How did Ashiana Housing perform in the September quarter?

Ashiana Housing recorded a Rs 23.49 crore year-on-year increase in consolidated profit for the September 2026 quarter, while total income increased by Rs 412.14 crore. Net sales or income from operations was Rs 575.48 crore, other income was Rs 12.63 crore and income from partnership firms was Rs 0.20 crore.

Total expenses rose to Rs 519.37 crore in the quarter ended 30 September 2026 from Rs 140.03 crore a year earlier. Profit before tax increased to Rs 68.96 crore from Rs 36.15 crore, while tax expense rose to Rs 17.83 crore from Rs 8.62 crore.

Ashiana Housing also reported higher results than in the preceding June 2026 quarter, when consolidated net profit was Rs 13.11 crore and total income was Rs 119.76 crore. Basic earnings per share, not annualised and calculated on equity shares with a Rs 2 face value, was Rs 5.09 in the September quarter, compared with Rs 1.38 in June 2026 and Rs 2.82 a year earlier.

What changed in Ashiana Housing’s income and costs?

Ashiana Housing’s September-quarter income growth was driven by net sales or income from operations, which rose to Rs 575.48 crore from Rs 165.77 crore in the prior-year quarter. Other income increased to Rs 12.63 crore from Rs 10.80 crore, while partnership-firm income changed to a positive Rs 0.20 crore from a negative Rs 0.20 crore.

Project expenses increased to Rs 265.51 crore from Rs 204.35 crore, whereas purchases of land and development rights declined to Rs 57.52 crore from Rs 197.92 crore. Employee-benefit expense decreased to Rs 20.05 crore from Rs 22.83 crore, while other expenses increased to Rs 48.30 crore from Rs 19.85 crore.

Ashiana Housing recognises real-estate revenue under Indian Accounting Standard 115 when a performance obligation is satisfied and control of the promised asset transfers to the customer. The filing says this occurs upon possession or issuance of an offer-of-possession letter, whichever is earlier, subject to certainty of realisation; the timing of those events can therefore affect quarterly reported income.

What were Ashiana Housing’s first-half results?

Ashiana Housing reported consolidated net profit of Rs 54.14 crore for the half-year ended 30 September 2026, compared with Rs 40.26 crore in the corresponding prior-year half-year. Total income rose to Rs 708.08 crore from Rs 478.90 crore, while total expenses increased to Rs 622.82 crore from Rs 424.70 crore.

Profit before tax for the six months was Rs 85.27 crore, up from Rs 54.20 crore, and tax expense was Rs 21.13 crore against Rs 13.94 crore. Total comprehensive income was Rs 54.78 crore, compared with Rs 41.57 crore, and basic earnings per share increased to Rs 5.44 from Rs 4.14.

Ashiana Housing identifies development of real-estate property as its only reportable operating segment and India as its only geographical segment. The Board of Directors acts as chief operating decision maker, so the 30 September 2026 filing does not provide separate revenue or profit figures by project category or geography.

Why did Ashiana Housing’s operating cash inflow fall?

Ashiana Housing generated net cash from operating activities of Rs 35.04 crore in the half-year ended 30 September 2026, down from Rs 101.66 crore in the comparative half-year despite the Rs 13.88 crore increase in first-half net profit. Cash generated from operations before direct taxes was Rs 82.11 crore, compared with Rs 129.81 crore, while direct taxes paid or adjusted were Rs 47.08 crore.

Working-capital movements included a Rs 211.33 crore increase in inventories and a Rs 40.70 crore increase in non-financial assets. These movements were partly offset by a Rs 209.08 crore increase in customer advances and a Rs 23.38 crore movement in economically weaker section and lower-income group units.

Cash and cash equivalents were Rs 678.09 crore at 30 September 2026, compared with Rs 625.08 crore at the beginning of the financial year, an increase of Rs 53.01 crore. The half-year cash-flow statement recorded Rs 16.33 crore of net cash used in financing activities, including Rs 21.48 crore of interest and financial charges paid and Rs 28.20 crore spent on property, plant and equipment.

What debt and shareholder matters did Ashiana Housing disclose?

Ashiana Housing reported a debt-equity ratio of 0.42 at 30 September 2026, compared with 0.36 at the previous financial year-end. Its non-convertible debentures, or NCDs, aggregated Rs 286.62 crore at 30 September 2026, according to the auditor’s security-cover certificate.

The NCDs are secured by mortgages on unsold units at Ashiana Town and Ashiana Advik Phase 1 and 2 in Bhiwadi, Rajasthan. The disclosed security also includes hypothecation of cash flows or receivables from those projects, Ashiana Anmol Phase 2 and 3 in Gurugram, Haryana, and ONE44 Phase 1 and 2 in Jaipur, Rajasthan.

Ashiana Housing shareholders approved a dividend of Rs 1.50 per equity share, or 75% of the Rs 2 face value, at the 29 September 2026 annual general meeting. The Rs 15.08 crore aggregate dividend was paid in October 2026; the company also reported 96 investor complaints during the September quarter, with seven unresolved at quarter-end subsequently resolved.

Conclusion

Ashiana Housing’s September-quarter results combined a substantial increase in reported income and profit with lower first-half operating cash inflow. Consolidated profit rose to Rs 51.03 crore as income reached Rs 588.32 crore, while inventory and non-financial-asset movements contributed to operating cash flow declining to Rs 35.04 crore for the half-year.

The next results will show whether possession or offer-of-possession events continue to support revenue recognition under Ashiana Housing’s stated accounting policy. The filing also leaves investors to track subsequent movements in inventory, customer advances, the Rs 286.62 crore NCD balance and the debt-equity ratio after 30 September 2026.