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Grovy India Limited, a BSE-listed real estate developer headquartered in South Delhi, reported a 74% year-on-year increase in net profit to INR 1.9 crore for the first quarter of FY27, supported by strong project execution and higher revenue. Total revenue surged 233% year-on-year to INR 27.58 crore, while sequential performance also improved significantly. During the quarter, the company acquired three premium residential projects covering around 50,000 sq. ft. in South Delhi and continued work on 10 ongoing developments spanning 1.83 lakh sq. ft. Looking ahead, the developer plans to expand its annual project pipeline, supported by its collaboration with Golden Growth Fund, and is targeting a future listing on the National Stock Exchange, subject to regulatory approvals and market conditions.
Grovy India Limited has reported a 74% year-on-year increase in net profit for the first quarter of FY27, reflecting higher revenue, improved operational performance and continued execution of its residential development pipeline in South Delhi. The BSE-listed developer announced that net profit for the quarter stood at INR 1.9 crore, while total revenue rose 233% year-on-year to INR 27.58 crore.
The company also recorded strong sequential growth during the quarter, with net profit increasing 114% and total revenue rising 249% compared with the previous quarter. According to the company, the performance was supported by robust project execution, improved profitability and disciplined capital allocation.
Commenting on the quarterly performance, Ankur Jalan, Director of Grovy India Limited, said the financial results reflected the company's continued emphasis on operational efficiency, disciplined execution and strategic growth.
Jalan noted that South Delhi continued to witness strong demand and remained a resilient premium residential market with favourable long-term prospects. He added that sustained demand for premium housing was expected to support stronger growth in South Delhi than in many other markets over the coming years, reinforcing the company's positive outlook.
He further stated that the company's existing project inventory, together with its strategic collaboration with Golden Growth Fund, was expected to support a two- to three-fold increase in project development over the next few years.
Grovy India is currently executing 10 residential projects across prime locations in South Delhi, with a combined development area of approximately 1.83 lakh sq. ft. These projects are scheduled for delivery between Q3 FY27 and Q3 FY28.
During the quarter, the developer also expanded its portfolio by acquiring three new premium residential projects in South Delhi, covering approximately 50,000 sq. ft. The acquisitions are intended to strengthen its pipeline in one of the capital's established luxury residential markets.
Looking ahead, the company said it aims to increase its execution capacity to 20–25 residential projects annually over the next three years, subject to market conditions and the availability of suitable development opportunities.
Grovy India also outlined its longer-term capital market plans, stating that it intends to seek a listing on the National Stock Exchange over the next three years, subject to market conditions and regulatory approvals. The proposed listing is aimed at improving liquidity, expanding the company's investor base and strengthening its visibility among institutional investors.
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