OMAXE LTD. Q1 FY27 Results

Omaxe's consolidated Q1 FY27 (quarter ended June 30, 2026) print is a turnaround: the group moved to a net profit of ₹1.30 Cr from a loss of ₹185.77 Cr a year ago and ₹191.42 Cr in the March 2026 quarter, on consolidated total income of ₹438.94 Cr (revenue from operations ₹406.17 Cr, up ~43.9% YoY and ~16.5% QoQ). There were no exceptional items in either period, so this is a reported, not adjusted, swing — but at a consolidated net margin of just ~0.3% of total income (versus -62.3% a year ago), the profit is thin and the turnaround is more about cost structure than demand strength.

The bridge to profit runs largely through finance costs, which fell to ₹27.08 Cr from ₹67.03 Cr a year ago (down ~60%) and from ₹69.54 Cr last quarter, alongside a large negative swing in inventory changes (-₹150.91 Cr, i.e., cost recognised on delivered/sold inventory, standard for a real-estate P&L rather than a one-off). Material and project cost (₹523.40 Cr) still grew ~14.4% YoY, but slower than revenue, which also helped the swing to profit. Standalone tells a different and weaker story: parent-only revenue fell ~36.5% YoY to ₹75.82 Cr (also down ~53% sequentially) and the standalone entity stayed loss-making at -₹31.88 Cr — narrower than -₹35.83 Cr a year ago and -₹83.05 Cr last quarter, but still a loss. Essentially all of the group-level improvement is coming from subsidiaries/step-down entities, not the parent, a divergence well beyond the 3% threshold that readers should weigh against the headline consolidated numbers.

The stock went into the print at ₹81.77, down 16.2% over the past month of trading.

For context: this is the highest quarterly PAT in the last 6 quarters on our records; PAT has now risen for 4 consecutive quarters.

EPS: consolidated basic ₹0.05 (owners' PAT ₹0.90 Cr) vs -₹10.16 a year ago — standalone basic -₹1.74 vs -₹1.96 YoY

No exceptional items in current or comparative periods — consolidated figures include 144 unreviewed group entities (₹0.56 Cr revenue/₹0.36 Cr profit) that auditors deemed non-material

Management gives no formal guidance on record for this quarter, and no prior concall commentary is available to check the print against. A web search for Street/analyst previews turned up no specific consensus estimates for this result, so the comparison to Street is unknown rather than a beat or miss. No management press release accompanied the filing beyond the standard board-outcome letter to the exchanges. The quarter's other disclosed developments — a subsidiary's RERA approval for a Lucknow project (Aug 11) and the board's ₹6,200 Cr planned investment in a new hospitality vertical (flagged Jun 29) — are forward capital commitments that don't show up in this quarter's numbers but are worth tracking against the finance-cost trend that drove this print.