Horizon Industrial Parks Releases Q1 FY27 Earnings Call Transcript
Horizon Industrial Parks reported Q1 FY27 revenue of ₹200 crore (up 23% YoY) and EBITDA of ₹161 crore (80% margin). The company raised ₹4,250 crore via IPO, reducing net debt to ₹2,500 crore. A four-pronged growth strategy includes expanding large parks and in-city assets, targeting 6 million sq ft development in FY27.
The announcement details strong financial performance, significant capital raise and its strategic deployment, and a comprehensive growth plan for the future. These factors have a material positive impact on investor perception and the company's future prospects.
The company reported strong year-on-year revenue and EBITDA growth, highlighted successful IPO proceeds utilization for deleveraging, and outlined a clear, multi-faceted growth strategy. Positive outlook on future development and profitability despite a reported net loss due to non-cash items.
Horizon Industrial Parks Limited has released the transcript of its Q1 FY27 earnings conference call, held on September 11, 2026. The call featured insights from CEO Urvish Rambhia and CFO Kunal Shah.
During the call, Mr. Rambhia highlighted the successful completion of the company's IPO in August, raising ₹4,250 crore of fresh capital, which was used for deleveraging, reducing net debt to ₹2,500 crore. He emphasized the IPO's role in strengthening the company's balance sheet and providing financial flexibility.
The company reported a strong Q1 FY27 performance with revenue of ₹200 crore, a 23% year-on-year increase, and EBITDA of ₹161 crore, maintaining a healthy EBITDA margin of 80%. The contracted revenue run rate reached approximately ₹970 crore as of end-June.
Operational highlights included leasing 1.9 million square feet across 13 transactions, onboarding nine new customers, and adding ₹65 crore to the contracted revenue. Development activities are on track, with 1 million square feet delivered in the quarter and a target to deliver 6 million square feet for the fiscal year, enhancing the operational area to nearly 35 million square feet.
Financially, the company reported a net loss of ₹12 crore for the quarter, impacted by non-cash depreciation and interest expenses. However, the pro forma cash PAT stands at ₹116 crore. The company's growth strategy is focused on four key areas: contractual rent escalations and re-leasing spreads, continued development of large parks (doubling operational capacity in 4-5 years), rapid expansion of the in-city strategy (delivering 6 million sq ft over 3 years with significantly higher rentals), and expansion of value-added services.
Future outlook includes a development pipeline sufficient for 4-5 years of execution, with capex requirements of ₹1,500-₹2,000 crore over the next three years, to be funded by internal accruals and incremental debt. The company also anticipates a reduction in its debt cost by 40-50 basis points post-deleveraging. The in-city portfolio, currently comprising 17 assets and 7 million square feet, is expected to contribute 25% of the company's revenue upon full completion.
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Horizon Industrial Parks Limited filed this with the NSE as a statutory disclosure, categorised under concall scheduled. It is a primary document, not a recommendation, and the desk marks it high impact, which is the band that most often changes something.
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