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Horizon Industrial Parks Limited — Q1FY27 Earnings Call Summary
Key Takeaways
- Q1 FY27 revenue INR200 Cr +23% y-y; EBITDA INR161 Cr +36% y-y; EBITDA margin 80%
- FY27 development target 6.5 mn sq ft; in-city Pune asset delivery by Q4 FY27
- In-city assets 7 mn sq ft (~10% area) expected to contribute 25% revenue at maturity
- Q2/Q3 FY27 expected to turn P&L profitable
- Capex INR1,500-2,000 Cr over 3 years; 1/3 internal accruals, 2/3 incremental debt
- In-city yields 13-14% vs 11-12% for big parks; construction cost INR4,500/sq ft
- IPO raised INR4,250 Cr; net debt reduced to INR2,500 Cr (12.5% of EV)
- Contracted revenue run rate INR970 Cr; leased 1.9 mn sq ft in Q1, 75% industrial
- Growth drivers: 5% annual rent escalations, large park expansion, in-city growth (2-3x rents), value-added services
- Rental growth high single-digit; re-leasing spreads 12-15%; 7-year lease WAL
📄 Source: View original transcript (PDF)
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Summary generated by AI from the official transcript filed on BSE/NSE. Not investment advice.