Veegaland Developers Q2 FY27 Results (NSE: VEEGALAND)
Signal: Steady quarter
The read
Q2FY27 confirms strong YoY earnings momentum, with revenue at ₹7432.18 lakh, up 79.1%, and PAT at ₹1594.18 lakh, up 97.4%; however, revenue fell 30.1% QoQ and negative H1 operating cash flow of ₹1823.46 lakh means project cash conversion remains the key trajectory variable.
| Metric | Value | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹74.32 Cr | +79.1% | -30.1% |
| Net profit | ₹15.94 Cr | +97.4% | |
| EPS | ₹4.46 | +54.9% |
P&L walk
Standalone Q2FY27 revenue was ₹7432.18 lakh, up 79.1% YoY but down 30.1% QoQ; PAT rose 97.4% YoY to ₹1594.18 lakh, while EPS increased 54.9% to ₹4.46 because the IPO expanded the paid-up share capital to ₹4875.00 lakh.
Segments
The company reports one business segment, real estate development and allied activities, so no segment-level driver or drag is disclosed.
Key positives
- Revenue reached ₹7432.18 lakh in Q2FY27, up 79.1% YoY, while PBT increased to ₹2146.54 lakh from ₹1134.12 lakh.
- PAT rose 97.4% YoY to ₹1594.18 lakh and 64.0% QoQ from ₹972.32 lakh.
- The IPO raised ₹21000.00 lakh, leaving cash and cash equivalents of ₹9234.86 lakh and net debt of only ₹238.39 lakh at 30-Sep-26.
Key concerns
- Revenue declined 30.1% QoQ to ₹7432.18 lakh, highlighting sequential volatility in project revenue recognition.
- H1FY27 operating cash flow was negative ₹1823.46 lakh against H1FY27 PBT of ₹3445.44 lakh, indicating weak cash conversion.
- EPS growth of 54.9% lagged PAT growth of 97.4% because the post-IPO paid-up share capital increased to ₹4875.00 lakh.
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