Zuari Industries sells out St. Regis and expands DM pipeline

Zuari Industries has sold all 232 St. Regis – The Residences units, a project with expected revenue of AED 1,324 million, and has begun handovers and profit repatriation. ZIL also disclosed a development-manager (DM) pipeline across four projects with 5.05 million square feet of saleable or built-up area.

What is the sales outcome at ZIL’s St. Regis residences?

ZIL reported that 232 of 232 units at St. Regis – The Residences were sold, placing the project at 100% sold out. The presentation states expected revenue of AED 1,324 million and says handovers are underway. It does not disclose the amount collected from customers or a project-level profit figure.

Profit repatriation from St. Regis has commenced, according to ZIL’s project update. The presentation does not quantify the profit repatriated, give a remittance date, or identify the remaining amount. The disclosed milestone is therefore the start of repatriation rather than a measure of cash transferred.

How much of ZIL Garden City Phase IV has been sold?

ZIL Garden City – Phase IV has sold 134 of 156 plots, or about 85%, while the plotted-development project-progress indicator is 100%. Based on the disclosed plot count, 22 plots were not reported as sold. This differs from St. Regis, where all 232 residences were reported sold.

The presentation provides no sales value, average plot price, collection figure or profit measure for the 156-plot Phase IV project. It also does not connect the 134 plots sold to ZIL’s reported standalone revenue. The slide establishes construction progress and sales status, but not the project’s financial contribution.

Which projects are in ZIL’s asset-light DM pipeline?

ZIL’s asset-light DM pipeline includes four projects in Hyderabad, Bangalore and Kolkata across 36.7 acres. Their disclosed saleable or built-up area totals 5.05 million square feet, comprising apartments, plots, a mixed-use scheme and an office building.

Gangothri Tribhuja is the largest disclosed project by area, with 2.8 million square feet on 9.4 acres, and is labelled Mega. ZIL defines Mega projects as having value above Rs 2,000 crore, but does not publish a numerical value for this project. The classification is therefore a value band rather than a reported project valuation.

Panihati is second by area at 1.8 million square feet on 11.8 acres and combines apartments, senior living and retail. Nelamangala has the largest land area, at 14.8 acres, but only 0.35 million square feet of saleable plot area. Corporate Centre is the smallest by area at 0.1 million square feet on 0.7 acres.

What stage has each ZIL DM project reached?

ZIL lists 3 September 2026 as the launch date for Gangothri Tribhuja and 30 August 2026 as the launch date for Nelamangala. The Hyderabad project is an apartment scheme with 2.8 million square feet of saleable area, while the Bangalore project is a plotted development with 0.35 million square feet. No sales, booking, collection or construction figures are disclosed for either project.

Panihati’s concept design was under finalisation for its 1.8 million-square-foot mixed-use development. At Corporate Centre, an office project with 0.1 million square feet of built-up area, demolition and D-Wall work were in process. ZIL does not define D-Wall in the presentation or give either Kolkata project a launch or completion date.

The value categories place Gangothri Tribhuja in the Mega band above Rs 2,000 crore and Panihati in the Major band above Rs 500 crore to below Rs 2,000 crore. Nelamangala and Corporate Centre are classified Significant, which ZIL defines as Rs 50 crore to Rs 200 crore. None of the four projects is labelled Large, the category above Rs 200 crore to Rs 500 crore.

How do ZIL’s financial results compare with its property updates?

ZIL’s standalone Q2FY27 revenue rose 5.5% year on year to Rs 261.7 crore, while earnings before interest, tax, depreciation and amortisation (EBITDA) increased 20.5% to Rs 63.3 crore. Profit before tax before exceptional items increased 67.3% to Rs 31.2 crore. The presentation does not separate real-estate revenue or earnings within these standalone figures.

For H1FY27, standalone revenue increased 15.4% to Rs 545.6 crore, EBITDA rose 5.8% to Rs 94.6 crore, and profit before tax before exceptional items grew 36.8% to Rs 26.7 crore. These period-on-period financial figures are not attributed to St. Regis, Garden City Phase IV or the four DM projects, whose disclosures focus on sales, launch and execution milestones.

Conclusion

ZIL’s property disclosures combine a completed sales milestone with a pipeline at varying stages of execution. St. Regis is 100% sold across 232 residences and has started handovers and profit repatriation, while Garden City Phase IV is 100% progressed and about 85% sold. The DM portfolio covers 5.05 million square feet across four product types and three cities.

The next disclosed milestones are the 3 September 2026 and 30 August 2026 launch dates for Gangothri Tribhuja and Nelamangala, respectively. Panihati remains in concept-design finalisation, while Corporate Centre is in demolition and D-Wall work. Further ZIL updates on St. Regis handovers, repatriated profit and DM-project sales or execution would clarify the financial outcomes of these developments.