Eldeco Housing H1 profit nearly quadruples to Rs 22.49 crore

Eldeco Housing and Industries Limited reported consolidated profit after tax of Rs 22.49 crore for the half year ended September 30, 2026, compared with Rs 5.77 crore a year earlier, while revenue from operations rose 63% to Rs 100.91 crore from Rs 61.74 crore. The board approved the unaudited results on November 5, 2026.

How much did Eldeco Housing earn in H1 2026?

Eldeco Housing earned consolidated profit after tax of Rs 22.49 crore in the half year ended September 30, 2026, versus Rs 5.77 crore in the corresponding half year ended September 30, 2025. The increase was Rs 16.72 crore, alongside higher income and a larger negative change in inventories of finished goods and projects in progress within expenses.

Consolidated total income rose to Rs 103.19 crore from Rs 66.23 crore in the prior-year half year. Profit before tax increased to Rs 30.57 crore from Rs 8.73 crore, while total tax expense rose to Rs 8.08 crore from Rs 2.96 crore. Basic and diluted earnings per share, which the filing says are not annualised, were Rs 22.87 against Rs 5.85 a year earlier.

Eldeco Housing reported total comprehensive income of Rs 22.49 crore for the latest half year, compared with Rs 5.74 crore in the prior-year period. Other comprehensive income was Rs 0.0031 crore in the 2026 half year, against a loss of Rs 0.0259 crore a year earlier, leaving only a limited difference between profit after tax and comprehensive income.

What drove Eldeco Housing’s half-year profit increase?

Eldeco Housing’s consolidated revenue from operations increased by Rs 39.18 crore year on year to Rs 100.91 crore in the half year ended September 2026. Other income declined to Rs 2.27 crore from Rs 4.49 crore, meaning that the increase in total income was associated principally with revenue from operations rather than other income.

The largest movement within reported expenses was the change in inventories of finished goods and projects in progress, which was negative Rs 231.96 crore, compared with negative Rs 45.02 crore in the prior-year half year. This line reduced total expenses, which were Rs 72.62 crore in the latest half year compared with Rs 57.60 crore a year earlier, despite higher construction and related project costs.

Cost of materials consumed, construction and other related project costs rose to Rs 276.11 crore from Rs 81.54 crore. Other expenses increased to Rs 19.07 crore from Rs 12.13 crore, while employee benefits expense was Rs 7.72 crore against Rs 6.58 crore. Finance cost declined to Rs 1.23 crore from Rs 1.84 crore, and depreciation and amortisation was Rs 0.44 crore versus Rs 0.43 crore.

Did Eldeco Housing’s September-quarter profit fall from June?

Yes. Eldeco Housing reported consolidated profit after tax of Rs 7.38 crore for the quarter ended September 30, 2026, down from Rs 15.11 crore in the quarter ended June 30, 2026. The September-quarter figure was nevertheless above the Rs 2.63 crore reported for the quarter ended September 30, 2025.

Consolidated revenue from operations was Rs 51.84 crore in the September 2026 quarter, compared with Rs 49.07 crore in the June 2026 quarter and Rs 33.05 crore in the September 2025 quarter. Total income increased to Rs 62.87 crore in September from Rs 50.32 crore in June, but profit before tax declined to Rs 12.76 crore from Rs 17.81 crore.

The sequential profit movement coincided with a less negative inventory-change line in September. The change in inventories was negative Rs 85.84 crore in the September quarter, compared with negative Rs 146.12 crore in the June quarter. Construction and related project costs were Rs 111.35 crore in September versus Rs 164.98 crore in June, while other expenses were Rs 10.09 crore versus Rs 8.98 crore.

What business segments does Eldeco Housing report?

Eldeco Housing reports real estate as its only reportable operating segment under Indian Accounting Standard 108, or Ind AS 108. Management’s review of operations concluded that the group’s activities fall under real estate, so the filing does not provide separate revenue, profit or asset figures for multiple operating segments.

This single-segment presentation means the consolidated revenue of Rs 100.91 crore and profit after tax of Rs 22.49 crore for the half year ended September 2026 are reported for the group’s real-estate activities as a whole. The filing states that the financial results were prepared under Indian Accounting Standards notified under the Companies Act, 2013.

The filing includes standalone and consolidated statements, but the comparisons in this report use consolidated figures. Standalone profit after tax was Rs 24.19 crore for the half year ended September 2026, compared with Rs 8.35 crore a year earlier, while standalone revenue from operations was Rs 92.01 crore versus Rs 61.06 crore.

What did Eldeco Housing disclose about the review of results?

Eldeco Housing said its audit committee reviewed and recommended the unaudited results, and the board approved them on November 5, 2026. Doogar & Associates, the statutory auditor, carried out a limited review of the quarterly and half-year financial results rather than a full audit.

The filing identifies the results as unaudited for the quarter and half year ended September 30, 2026. It also says previous-period figures were regrouped wherever necessary to conform to the current-period classification, which can affect comparisons of individual financial-statement lines.

Paid-up equity share capital was Rs 1.97 crore, based on shares with a face value of Rs 2 each, and was unchanged across the reported comparative periods. There was no reported non-controlling interest in the consolidated profit-attribution table; profit attributable to owners was Rs 22.49 crore for the half year ended September 2026.

Conclusion

The half-year figures show that higher operating revenue and the reported inventory movement coincided with a substantial rise in consolidated earnings, even as construction-related costs and other expenses increased. The quarter-by-quarter comparison, however, shows profit after tax was lower in September than in June despite revenue from operations increasing sequentially.

The filing does not disclose a forward target, project plan or date for the next results announcement. The unresolved item to watch in subsequent disclosures is whether the September-quarter reduction in profit before tax from Rs 17.81 crore in June to Rs 12.76 crore persists, particularly alongside movements in project costs and inventories.