Veegaland Developers revenue rose 79% to Rs 74 crore in Q1 FY27

Kochi: Kerala-based real estate developer Veegaland Developers has reported a 79% year-on-year increase in revenue from operations to Rs 74.32 crore in the first quarter of fiscal year 2027, led by strong sales and project execution.

Profit rose to Rs 9.72 crore in the quarter ended June 30, 2026, from Rs 3.21 crore a year earlier. EBITDA more than doubled to Rs 14.31 crore from Rs 6.1 crore, while the EBITDA margin improved to 18.93% from 14.52%, the company said in a regulatory filing.

Following the earnings announcement, shares of the company rose 2% to Rs 149 on the BSE.

Kochouseph Chittilappilly, executive vice-chairman, said the company saw strong sales demand and project execution during the quarter despite uncertainties in the Middle East, which has been a significant source of demand for the company.

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Gross profit increased to Rs 20.99 crore from Rs 12.17 crore, while the gross profit margin stood at 28.25% compared with 29.31% in the year-ago quarter. The PAT margin improved to 12.86% from 7.65%.

The company launched a new residential project, Veegaland Amora, in Kochi during the quarter, adding 1.59 lakh square feet to its ongoing project portfolio.

Veegaland said it has three upcoming projects and 6.5 acres of land reserves, providing visibility for medium-term growth.

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The company said it remains confident about the residential real estate market in Kerala and plans to expand its presence in the state.