Arihant Super. H1FY27 Results (NSE: ARIHANTSUP)

3 Nov 2026 · Analysis by Alpha Inflection

Signal: Steady quarter

The read

The key inflection is a reported H1FY27 net profit of ₹23.37 lakh against finance costs of ₹1,248.00 lakh, but cash conversion remains weak with operating cash flow of -₹6,148.53 lakh and ₹2,417.28 lakh of Gymkhana-building work-in-progress; the trajectory is still funding-intensive rather than cash-generative.

P&L walk

Standalone H1FY27 revenue was ₹4,473.91 lakh, while net profit was only ₹23.37 lakh and operating cash flow was -₹6,148.53 lakh; the filing does not provide enough clearly legible comparative detail to quantify the YoY trajectory.

Segments

The company reports one segment, real-estate development; no segment-level revenue, result or asset split is disclosed, so the filing does not identify a project-level earnings driver.

Key positives

• Standalone H1FY27 revenue from operations was ₹4,473.91 lakh and net profit was ₹23.37 lakh.
• The subsidiary Dwellcons entered into a hotel management agreement with ITC Hotels for a 227-room Mementos luxury hotel, including 44 suites, adding a branded hospitality development to the pipeline.
• The company approved a succession and diversification framework that proposes a 10% cap on investment in a new business relative to implied fair value.

Key concerns

• Operating cash flow was -₹6,148.53 lakh in H1FY27 despite reported net profit of ₹23.37 lakh, highlighting weak cash conversion and continued project funding needs.
• Finance costs of ₹1,248.00 lakh were more than 50 times reported H1 net profit of ₹23.37 lakh.
• Capital work-in-progress for the Gymkhana building was ₹2,417.28 lakh, so project execution and funding requirements remain material.
• The filing does not disclose pre-sales, collections, launches, booking value or project-level profitability, limiting visibility into the real-estate operating trajectory.

View original filing

Research and educational content only. Not investment advice.