In , Ashiana Housing Ltd (Realty - Construction & Contracting) is outperforming Nifty 500 with +26.3% relative strength. Fundamentals: Average. On a 6-week streak.
Weekly presence in the outperformers list. Green = beating Nifty 500 by 10%+ that week.
Based on Q3 FY26 earnings • Updated Apr 18, 2026
What: Realization per sq. ft.: ₹15,200 (Aaroham)
Impact: 500 bps ROE improvement
“Aaroham is at INR15,200... I don't see a challenge in getting close to 20% ROEs or crossing the 20% ROEs in the next financial year.”
What: Revenue: ₹373.35 Cr
“Total revenue for Q3 FY '26 at INR373.35 crores... driven by higher deliveries.”
What: Presales: ₹767 Cr
“driven by strong booking conversions in Ashiana Aaroham project in Gurugram, which contributed around INR767 crores in sales on launch.”
What: Presales of ₹2,131.44 Cr in 9M FY26
“We have surpassed our FY '26 presales target of INR2,000 crores, driven by strong booking conversions in Ashiana Aaroham project in Gurugram.”
What: 20% by FY28 → 20% by FY27
“We expect to hit 20% ROEs next year itself.”
Earnings deceleration risks from management commentary
Trigger: Environmental regulations triggered by air quality issues in North India.
Management view: Management is seeking ways to work around restrictions to prevent delivery delays.
Monitor: regulatory
Trigger: Dispute over the quality of services and the validity of approvals obtained.
Impact: PAT impact: ₹50 Cr (claimed)
Management view: The company is contesting the matter in court, claiming a strong legal position.
Monitor: litigation
Trigger: High demand and aggressive bidding by developers in non-senior living segments.
Management view: Focusing on senior living where land prices are more reasonable relative to the premium charged.
Monitor: commodity
Key quotes from recent conference calls
“FY '26 presales, the outlook is about INR2,000 crores is what we are targeting. [Previous Presales Target guidance]”
“So net profit margins should get into low double digits from this year is my expectation. [Previous Profit Margins guidance]”
“And senior living will improve realizations on average for us... because I think in general, the floor price in senior living now is getting closer to INR7,000. [Initiative: Senior Living Pivot]”
“Q3 got impacted by GRAP related restrictions in Delhi NCR... finding a way around it does remain a difficult and a uphill task. [Risk (regulatory): MEDIUM]”
Headline numbers from the latest earnings call
Revenue
₹373.35 Cr
Why: Revenue growth was driven by higher deliveries during the quarter.
Revenue more than doubled sequentially as the company ramped up project handovers.
PAT
₹56.65 Cr
Why: Profitability increased due to higher delivery volumes and a favorable project mix.
PAT growth outpaced revenue growth, suggesting improved operational efficiency or higher-margin project completions.
Other Highlights
• Pre-tax operating cash flow stood at ₹179.05 crores for the quarter.
• Surpassed full-year presales target of ₹2,000 crores in just nine months.
• Ashiana Aaroham launch in Gurugram contributed ₹767 crores in sales.
Sub-sector-specific signals from the latest concall — each with management's stated reason for the change
Presales Value (9M)
₹2,131.44 Cr
Why: Driven by the successful launch of the Aaroham project.
Area Booked (Q3)
3.97 lakh sq. ft.
Why: Primarily driven by new launches in Jamshedpur and Chennai.
Equivalent Area Constructed
6.14 lakh sq. ft.
Why: Impacted by GRAP related restrictions in Delhi NCR.
Aaroham Realization per Sq. Ft.
₹15,200
Why: Premium positioning of the new Gurugram project.
Senior Living Floor Price
₹7,000
Why: General upward trend in senior living realizations.
Pre-tax Operating Cash Flow
₹179.05 Cr
Why: Driven by better sales and collections.
Future Launch Pipeline
7 million sq. ft.
Why: Pipeline has dropped from 10 million sq. ft. due to recent launches and lack of new acquisitions.
Target Return on Equity
20%
Why: Management expects to hit this threshold in FY27.
Forward-looking targets from management for FY27
OPM Guidance
20%
₹1,700 Cr
Targeting 20% ROE in the next financial year.
Presales expected to remain in the similar ballpark of ₹2,000 crores.
Guidance Changes
ROE Target: 20% by FY28 → 20% by FY27
Revenue, profit and margin growth rates
| Metric | YoY | 3Y CAGR | Trend |
|---|---|---|---|
| Revenue | +172% | +34% | Inflection Up |
| PAT (Net Profit) | +418% | +80% | Stable |
| OPM | 19.0% | +600 bps | Volatile |
The above analysis is parsed from publicly available earnings call transcripts. This is educational research only — not investment advice. Last updated Apr 18, 2026.
Based on publicly available financial data. This is educational research, not investment advice.
Ashiana Housing Ltd's latest quarterly results (Dec 2025) show
Ashiana Housing Ltd's profit is growing with an stable trend.
Ashiana Housing Ltd's revenue growth trend is turning around (inflection up).
Ashiana Housing Ltd's operating margin is volatile.
Ashiana Housing Ltd's long-term compounding rates
Ashiana Housing Ltd's earnings growth is stable with mixed signals on a sequential basis.
Ashiana Housing Ltd's trailing twelve month (TTM) performance
Ashiana Housing Ltd appears significantly overvalued based on our fair value analysis.
Ashiana Housing Ltd's current PE ratio is 32.2x.
Ashiana Housing Ltd's current PE is 32.2x.
Ashiana Housing Ltd's price-to-book ratio is 4.8x.
Ashiana Housing Ltd is rated Average with a fundamental score of 51/100. This score is calculated from objective financial metrics
Ashiana Housing Ltd has a debt-to-equity ratio of N/A.
Ashiana Housing Ltd's return ratios over recent years
Ashiana Housing Ltd's operating cash flow is positive (FY2025).
Ashiana Housing Ltd's current dividend yield is 0.67%.
Ashiana Housing Ltd's shareholding pattern (Mar 2026)
Ashiana Housing Ltd's promoter holding has remained stable recently.
Ashiana Housing Ltd has been outperforming Nifty 500 for 6 consecutive weeks, indicating building momentum.
Ashiana Housing Ltd is a re-entry — it briefly dropped off the outperformance list but has now returned. Re-entries can signal renewed strength.
Ashiana Housing Ltd has 5 key growth catalysts identified from recent earnings analysis
Ashiana Housing Ltd has 3 key risks worth monitoring
In Q3 FY26, Ashiana Housing Ltd's management highlighted
Ashiana Housing Ltd's management has provided the following forward guidance for FY27
Ashiana Housing Ltd's most important sub-sector-specific KPIs from the latest concall
Based on quantitative research signals, here is why Ashiana Housing Ltd may be worth studying
Ashiana Housing Ltd investment thesis summary:
Ashiana Housing Ltd's forward outlook based on current data signals
The above FAQs are generated from publicly available earnings data and conference call transcripts. This is educational research only. Sector Alpha is not SEBI registered and does not provide investment advice.
