Horizon Industrial Parks Limited — Q1FY27 earnings call summary

Filed 13 September 2026 · Official transcript

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