Grovy India strengthens South Delhi presence with 2.48 lakh sq. ft. development pipeline
New Delhi: BSE-listed real estate company Grovy India Ltd. continued to expand its real estate portfolio in the South Delhi market to 2.48 lakh sq. ft. across ongoing and future projects.
The company also announced its financial results for the quarter ended September 2026.
On the back of steadily improving margins, the company’s net profit surged by 436% to Rs 2.01 crore in Q2 FY27 as compared to 37.63 lakhs in the same period last year.
Driven by strong project execution, the company’s total revenue during the quarter rose by 75% to Rs 27.17 crore, up from Rs 15.52 crore in Q2 FY26.
Ankur Jalan, Director, Grovy India Ltd. said, “Our Q2 performance reflects the strength of our execution capabilities and the growing depth of our business in the South Delhi real estate market. The significant growth in revenue and profitability underscores our focus on operational efficiency, disciplined project execution and improving margins. South Delhi remains a resilient, supply-constrained premium residential market, and the approval of Delhi Master Plan 2047 further supports redevelopment-led growth.”
On the project development front, the company is currently developing 1.83 lakh sq. ft. of residential spaces in various colonies of South Delhi like GK, Hauz Khas, Anand Niketan, Neeti Bagh, Defence Colony and Gulmohar Park.
These projects are expected to be delivered between Q3 FY27 and Q4 FY28.
The company’s future pipeline comprises projects in Safdarjung Enclave, Anand Niketran and Defence Colony.
The company is also undertaking the development of three projects with Golden Growth Fund (GGF), a category II real estate focused Alternative Investment Fund (AIF).
“We will evaluate more collaborative projects with an aim to scale execution towards 20–25 projects annually over the next three years. This collaboration is well positioned to achieve a 2-3x increase in project development over the next few years,” Jalan added.
The company raised Rs 15.01 Cr in August 2026 through the preferential issue against the Rs 40 crore FY27 fund-raising target.
“The fresh capital strengthens our balance sheet, taking paid-up equity capital to Rs 17.51 crore. We remain committed to creating long-term shareholder value through sustainable growth, strong governance, and prudent capital allocation. The balance of Rs 25 crore is being pursued in line with market conditions and project requirements — subject to statutory and regulatory approvals,” Jalan added.
Jalan said over the next 3 years subject to market conditions and regulatory approvals, the company aims to list on the National Stock Exchange (NSE) to enhance liquidity, broaden the investor base, and strengthen market visibility and institutional reach.