Runwal Enterprises Ltd FY26 sales value hit Rs 2,353.5 crore

Runwal Enterprises reported FY26 sales value of Rs 2,353.5 crore, the highest in its FY24 to FY26 operating record, while revenue from operations was Rs 1,798.949 crore, below FY24’s Rs 2,408.865 crore. The presentation attributes the difference to sales being booking-led and revenue being recognised only after occupation certificates and possession.

Why did Runwal Enterprises’ FY26 sales value reach a three-year high?

Runwal Enterprises’ FY26 sales value reached Rs 2,353.5 crore as sales area rose to 2.1 million square feet, or msf, and units sold increased to 2,182. Sales value was Rs 1,899 crore in FY25 and Rs 1,527.6 crore in FY24, making FY26 the highest year in the three-year operating record.

The presentation defines sales value as the agreement value of residential, retail and commercial units sold, net of cancellations, where agreements have been entered into and booking amounts have been received. It excludes taxes, other charges, stamp duty and registration charges, so it measures contracted sales activity rather than revenue from completed handovers.

Runwal Enterprises reported an average sale price of 9,430 in FY24, 11,754 in FY25 and 11,366 in FY26. Although the FY26 average was below FY25, higher sales area and unit volumes coincided with the increase in sales value to Rs 2,353.5 crore.

Why was Runwal Enterprises’ FY26 revenue below FY24 despite higher sales?

Runwal Enterprises’ FY26 revenue from operations was Rs 1,798.949 crore, below Rs 2,408.865 crore in FY24, because its stated policy requires both an occupation certificate and customer possession before revenue is recognised. Sales value and revenue therefore record different stages: booking agreements and booking receipts for the former, and certified, handed-over inventory for the latter.

Revenue from operations fell to Rs 1,007.766 crore in FY25 before recovering to Rs 1,798.949 crore in FY26. The recovery did not return revenue to FY24’s reported level, even as sales value increased from Rs 1,527.6 crore in FY24 to Rs 2,353.5 crore in FY26.

Area delivered, defined as inventory for which an occupation certificate has been received, declined to 1.17 msf in FY26 from 1.33 msf in FY25 and 2.23 msf in FY24. Area launched rose to 2.06 msf in FY26 from 1.10 msf in FY25 and was above FY24’s 1.89 msf, leaving FY26 launches higher than deliveries.

For H1FY27, Runwal Enterprises reported revenue from operations of Rs 749.853 crore and total income of Rs 811.004 crore. These are half-year figures, unlike the full-year FY24, FY25 and FY26 amounts, so the presentation does not offer a like-for-like annual comparison for H1FY27.

How did Runwal Enterprises’ profitability change through FY26?

Runwal Enterprises’ FY26 restated net profit rose to Rs 185.763 crore from Rs 55.648 crore in FY25 and Rs 93.7 crore in FY24. Its profit after tax, or PAT, margin increased to 10.4% in FY26, compared with 5.5% in FY25 and 3.9% in FY24.

Earnings before interest, tax, depreciation and amortisation, or EBITDA, reached Rs 349.8 crore in FY26, versus Rs 180.1 crore in FY25 and Rs 201.7 crore in FY24. The EBITDA margin was 19.4% in FY26, above 17.8% in FY25 and 8.3% in FY24, while gross margin was Rs 602.3 crore, compared with Rs 361.8 crore and Rs 474.2 crore, respectively.

The restated consolidated statement records FY26 finance costs of Rs 115.155 crore, up from Rs 78.861 crore in FY25 and Rs 41.782 crore in FY24. FY26 employee-benefit expense was Rs 97.953 crore against Rs 66.04 crore in FY25, while total expenses were Rs 1,626.863 crore compared with total income of Rs 1,850.793 crore.

What do collections and launches show about Runwal Enterprises’ operating activity?

Runwal Enterprises collected Rs 1,854.6 crore gross in FY26, above Rs 1,556.2 crore in FY25 but below Rs 1,924 crore in FY24. Gross collections are agreement-value collections from unit sales, net of cancellations, excluding taxes and other charges, and are therefore distinct from revenue from operations.

FY26 sales value of Rs 2,353.5 crore exceeded gross collections of Rs 1,854.6 crore. The presentation does not provide customer receivable balances or a project-level collection schedule, so it does not identify the amount of FY26 sales value collected by the end of that year.

Runwal Enterprises launched 2.06 msf in FY26, compared with 1.10 msf in FY25 and 1.89 msf in FY24. The company defines launches as inventory put on the market for customer bookings, which allows sales value to be recorded before the occupation-certificate and possession conditions required for revenue recognition are met.

What future development schedule does Runwal Enterprises disclose?

Runwal Enterprises discloses about 44.92 msf of upcoming residential projects, 6.05 msf of commercial projects and 5.44 msf of retail projects. The listed developments span affordable, mid-income, luxury, commercial and retail categories, with estimated starts beginning in FY2026-FY2027.

The largest listed upcoming residential project is tentative Runwal SOBO Residential, with estimated developable area of 24,459,372 square feet, an estimated FY2026-FY2027 start and FY2037-FY2038 end. Runwal Bliss Phase 3 Residential is listed at 3,412,624 square feet, with estimated commencement in FY2027-FY2028 and completion in FY2039-FY2040.

The commercial list includes Runwal Gardens Business Office at 1,719,687 square feet and Runwal Commerz at 1,145,026 square feet. The retail list includes tentative Runwal SOBO Retail at 5,016,683 square feet, with an estimated FY2027-FY2028 start and FY2032-FY2033 completion; the presentation labels these timings as estimates.

Conclusion

Runwal Enterprises’ three-year record shows FY26 booking-led sales growth alongside revenue from operations that remained below FY24 because the two measures are recognised at different project stages. FY26 sales value reached Rs 2,353.5 crore, units sold reached 2,182 and restated net profit reached Rs 185.763 crore, while revenue remained subject to occupation certificates and possession.

The next item to watch is execution against the disclosed delivery and launch schedule, particularly whether occupation certificates and customer handovers rise from FY26’s 1.17 msf of delivered area. The presentation lists projects with estimated starts from FY2026-FY2027 through FY2030-FY2031 and estimated completions extending to FY2039-FY2040, including the tentative Runwal SOBO residential and retail developments.