India Homes FY26: The Pivot From Steel to Mumbai Redevelopment
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Frequently Asked Questions
FY26 is presented as the year the company completed its strategic pivot from stainless-steel manufacturing to Mumbai real estate redevelopment and rebranded from India Steel Works Ltd to India Homes Limited.
For FY26 (year ended 31 March), revenue from operations was 24.50 crore, EBITDA was 23.35 crore, and profit after tax was 18.66 crore, as per the audited standalone snapshot in the presentation.
The pipeline slide lists India Court (Wadala), King Court (Matunga), Duke Court (Chembur), and Waterfall Enclave (Khopoli, a JV with Lloyds).
Waterfall Enclave is shown as a joint venture with Lloyds at Khopoli, with an indicated construction area of about 60 lakh sq ft and a multi-phase timeline.
The company states it repaid all Kotak Mahindra Bank borrowings in September 2025 and reached a One-Time Settlement with J.C. Flowers ARC in March 2026, with payout pending.
The presentation explicitly states it contains audited standalone results for Q4 and FY26.
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