Ganesh Housing Limited · NSE:GANESHHOU
Ganesh Housing — Q2 FY26 Earnings Presentation
35 slides from Ganesh Housing's earnings presentation, Nov 7, 2025
Slide 1: Cover letter to stock exchanges: Q2 FY26 earnings presentation
ISO 9001 :2015 I ISO 14001 :2015 ISO45001 :2018 REF.NO./GHL/AHMD/2025-2026/363D DATE: NOVEMBER 07, 2025 To To BSE Limited National Stock Exchange of India Ltd. Corporate Relation Department Exchange Plaza, Phiroze Jeejeebhoy Towers Plot No. C/l , G Block Dalal Street, Bandra-Kurla Complex Mumbai - 4
Slide 2: Ganesh Housing Earnings Presentation Q2 FY26
• • • • •• GANESH - ® HOUSING Ill LIMITED . . , • • • Ganesh Housing • Earnings Presentation Q2 FY26 • • • • • • • •
Slide 3: Disclaimer
This presentation is for information purposes only and does not constitute an offer, Disclaimer solicitation or advertisement with respect to the purchase or sale of any security of Ganesh Housing Limited (the “Company”) and no part of it shall form the basis of or be relied upon in connection with
Slide 4: Q2 and H1 FY26 Highlights
Q2 Q2 and and H1 H1 FY26 FY26 Highlights Highlights
Slide 5: Q2 and H1 FY26 Key Financial and Operational Highlights
1i GANESH.=: Q2 and H1 FY26 Key Financial and Operational Highlights MOUS,INIG. . LIMITED" Ganesh Housing Corporation Limited is now Ganesh Housing Limited — reflecting a refreshed identity and continued legacy of trust and excellence. Strong Balance Sheet Revenue Debt-free for over three years, Q2F
Slide 6: Q2 and H1 FY26 Financial Performance
1i GAN£.$H .=: Q2 and H1 FY26 Financial Performance MOUS,INIG. . LIMITED" Particulars (INR Mn) Q2FY26 Q1FY26 Q2FY25 QoQ (%) YoY (%) H1FY26 H1FY25 YoY (%) Revenue 1,743 1,510 2,497 15.4% -30.2% 3,252 4,703 -30.9% EBITDA 1,481 1,280 2,150 15.7% -31.1% 3,252 3,706 -12.3% EBITDA Margin (%) 85.0% 84.8% 8
Slide 7: Q2 and H1 FY26 Project Updates
Q2 and H1 FY26 Project Updates GANESH =-· HOUSUiG- UMITED" One 91 Thaltej (Commercial Project – 1.8 msf, Revenue Potential : INR 2,100 Cr) o In final stages of receiving design and planning approvals. o Construction expected to commence in second half of FY26, with all pre-construction formalities n
Slide 8: What We Have Achieved And What's Next
1i GAN£.$H .=: What We Have Achieved And What’s Next MOUS,INIG. . LIMITED" Particulars Completed Projects Ongoing Projects Planned Projects No. of projects 22 2 4 Residential - (8 phases) Residential - 1 Residential - 18 Commercial - (6 phases) Type of projects Commercial - 1 Commercial – 4 Township
Slide 9: Ahmedabad: India's Most Affordable High-Growth Real Estate Market
1i GAN£.$H .=: Ahmedabad : India’s Most Affordable High-Growth Real Estate Market MOUS,INIG. . LIMITED" Ahmedabad’s real estate market is driven by rising project registrations, robust infrastructure like Metro Phase II, and The city has emerged as India’s most its proximity to GIFT City. The city’s
Slide 10: Ongoing Project Update: Malabar Retreat (Site Update)
1i GAN£.$H .=: Ongoing Project Update: Malabar Retreat (Site Update) MOUS,INIG. . LIMITED" Malabar Retreat 9
Slide 11: Million Minds (IT SEZ): Landmark Project in High Growing Market
1i GAN£.$H .=: Million Minds (IT SEZ) : Landmark Project in High Growing Market MOUS,INIG. . LIMITED" Prime Location • State of the art, world-class infrastructure facilities on 64 acres of land located at a key location behind Nirma University. • Easy access from SG Highway and SP Ring Road, within
Slide 12: Ongoing Project Update - Million Minds (IT SEZ) Phase 1
1i Ongoing Project Update - Million Minds (IT SEZ) Phase Status Expected Completion Construction Work in Progress March - 2026 Construction Area Leasable Area 1.3 Mn. Sq. Ft. 0.85 Mn. Sq. Ft. 1 Estimated Cost Estimated Rentals INR 285 Crs ~INR 72 Crs/Annum Million Mind Phase 1 - project update of on
Slide 13: Ongoing Project Update - Million Minds Phase 1 (Site Update)
GAN£.SH .=; 1i Ongoing Project Update - Million Minds Phase 1 (Site Update) MOUS,INIG. . LIMITED" 12
Slide 14: Million Minds (IT SEZ): Landmark Project in High Growing Market
1i GAIIESH.=: Million Minds (IT SEZ) : Landmark Project in High Growing Market l:IOUS,INIG. . LIMITED" 0 01 The first IGBC platinum IT building in Ahmedabad. Indian Green Building Council (IGBC) Confederation of lndlan Industry 0 02 Million Minds Tech City is a world-class integrated IT & ITeS devel
Slide 15: Finished Project Update - Malabar Exotica
Finished Project Update - Malabar Exotica GANESH. . l:IOUS,INIG'1 Ll~ITE_D r Completed and Booked - 100% Ready for Delivery - Possession Possession Started Started J Construction Technology - Use of Precast
Slide 16: Finished Project Update - Malabar County 3
1i GAN£.$H .=: Finished Project Update - Malabar County 3 MOUS,INIG. . LIMITED" Completed and Booked - 100% Well Ahead of Time - Delivered Construction Technology - Use of Precast J
Slide 17: Malabar Exotica: Project Completed 10 Months Ahead of Schedule
1i GANESH.=: Malabar Exotica : Project Completed 10 Months Ahead of Schedule l:IOUS,INIG. . LIMITED" Malabar Exotica : Milestones achieved over the course of project construction and execution June’21 July’21 June’22 Sep’23 Feb’24 Land of 2 acres Project launched and Significant progress on Structur
Slide 18: Malabar County 3: Project Delivered Within 2.5 Years
1i GANESH.=: Malabar County 3 : Project Delivered Within 2.5 Years l:IOUS,INIG. . LIMITED" Malabar County 3 : Milestones achieved over the course of project construction and execution June’21 July’21 June’22 Sep’23 Feb’24 Land of 2 acres Project launched and Significant progress on Structure work Pr
Slide 19: Creating Landmarks - Lalita Govind Udyan, Sanctuary Across 8 Acres
GAN£.SH .=; 1i Creating Landmarks - Lalita Govind Udyan, Exquisite Sanctuary Spread Across 8 Acres MOUS,INIG. . LIMITED" Inaugurated by Shri Amit Shah, Hon'ble Union Home Minister and Shri Bhupendra Patel, Hon'ble Chief Minister of Gujarat on 30th Sep’23. The facility is located behind Nirma Univers
Slide 20: Lalita Govind Udyan: Key Features
1i GAIIESH.=: Lalita Govind Udyan : Key Features l:IOUS'INIG. . LIMITED" Garden Oasis : Tranquil Lake : Miyawaki Plantation : Meandering Path : Recreational Facilities : Encompassing Serene lake brimming with 40,000 trees grown through the Miyawaki Diverse flora and fauna along the Such as walkways,
Slide 21: Corporate Presentation
Corporate Corporate Presentation Presentation
Slide 22: Snapshot: Strong Fundamentals. Proven Execution. Clear Growth Runway.
GAN£.SH .=; 1i Snapshot : Strong Fundamentals. Proven Execution. Clear Growth Runway. MOUS,INIG. . LIMITED" Way forward : Target of developing Balance Sheet ~32 msf of Strengthened : Execution Infrastructure Reduced debt by Excellence : and special INR 6,500 Mn Delivered 23msf projects like What set
Slide 23: Vision and Mission
1i GAN£.$H .=: Vision and Mission MOUS,INIG. . LIMITED" Vision -– “To be the most trusted, transparent, and admired real estate developer”. Mission -– “To continuously innovate and use the latest technology to provide high-quality spaces to our customers”. “To set up and build standard processes to
Slide 24: Three Decades of Leadership and Consistent Value Creation
1i GAN£.$H .=: Three Decades of Leadership and Consistent Value Creation MOUS,INIG. . LIMITED" (1991 - 2004) (2004 - 2009) (2009 - 2014) (2014 - 2020) (2021 Onwards) Early Phase & IPO Fund Raising Robust Execution Scaling Up Creating a New High • Incorporated in June • Bonus issue 2:1 (2006). • Deli
Slide 25: Built on Trust; Strengthened by Transparency
1i GAN£.$H .=: Built on Trust; Strengthened by Transparency MOUS,INIG. . LIMITED" Leading residential developer across mid Deep understanding of this market and Consistent transparency from and higher income segment; Enviable its regulations, strong relations with registration to property delivery.
Slide 26: Proven Execution Track Record
1i GAN£.$H .=: Proven Execution Track Record MOUS,INIG. . LIMITED" Maple Tree: Speed of execution to enhance shareholder value Feb’15 Apr’15 Apr’16 Apr’17 Jan’19 Land of Project launched and Significant progress made Construction work Completion ~ 10 acres identified construction start in less than
Slide 27: One of Ahmedabad's Largest, Most Strategically Placed Land Banks
1i GAIIESH.=: One of Ahmedabad’s Largest, Most Strategically Placed Land Banks l:IOUS'INIG. . LIMITED" ~500 acres of 36 - 40 msf of land reserves development in strategic potential. locations across Ahmedabad. 01 02 Ability to Rationalize take advantage land reserves in of favourable areas with limi
Slide 28: Our Competitive Edge: Strength in Strategy, Trust, and Execution
1i GAN£.$H .=: Our Competitive Edge: Strength in Strategy, Trust, and Execution MOUS,INIG. . LIMITED" Strategic Project Locations Timely Delivery Future Ready Innovative Planning Strong Brand Equity & Professionally Managed Superior Reputation Top Quality Focused on Deleveraging Infrastructure & Ame
Slide 29: Experienced Leadership Driving Sustained Growth
1i GAN£.$H .=: Experienced Leadership Driving Sustained Growth MOUS,INIG. . LIMITED" Dipak Kumar Patel Shekhar Patel Rajendra Shah Chairman MD & CEO CFO Associated with GHCL since 1991; leading the land Veteran with an experience of over 27 years; CA & ICWA with an experience of over 26 related matt
Slide 30: Strategic Priorities to Drive the Next Phase of Growth
1i GAN£.$H .=: Strategic Priorities to Drive the Next Phase of Growth MOUS,INIG. . LIMITED" Continuous Innovation Strengthening Position 01 04 i-homes, home automation and digital homes, Being more aggressive towards both commercial ahead of its time. and retail segment, widen customer base across p
Slide 31: Way Forward: Plan, Prepare and Proceed
1i GAN£.$H .=: Way Forward: Plan, Prepare and Proceed MOUS,INIG. . LIMITED" Plan Factoring in the opportunities and assessing the risks of planning our next step of launching new residential & commercial projects. Prepare This is what drives our everyday strategy; prepare for come what may. With var
Slide 32: Consolidated Income Statement (Historical)
1i GAN£.$H .=: Consolidated Income Statement (Historical) MOUS,INIG. . LIMITED" Particulars (INR mn) FY25 FY24 FY23 FY22 FY21 FY20 Revenue 9,935 8,989 6,208 3,849 1,820 2,773 EBITDA 8,130 6,301 2,563 1,355 (377) (504) EBITDA (%) 81.8% 70.1% 41.3% 35.2% (20.7%) (18.2%) Depreciation 74 66 27 20 17 21
Slide 33: Balance Sheet (Historical)
1i GAN£.$H .=: Balance Sheet (Historical) MOUS,INIG. . LIMITED" Particulars (INR mn) FY25 FY24 FY23 FY22 FY21 FY20 Equity Share Capital 834 834 834 834 492 492 Reserves & Surplus 19,732 14,669 10,262 7,064 4,528 5,750 Minority Interest - - 683 870 871 931 Shareholder’s Equity 20,566 15,503 11,779 8,
Slide 34: Cash Flows and Ratios (Historical)
1i GAN£.$H .=: Cash Flows and Ratios (Historical) MOUS,INIG. . LIMITED" Particulars (INR mn) FY25 FY24 FY23 FY22 FY21 FY20 Operating Cash Flow excl. WC 7,793 6,232 2,480 1,341 (658) (663) Working Capital Changes (3,694) 146 (2,173) (931) 1,980 1,890 Investment Activities (3,888) (4,886) 2,782 394 43
Slide 35: Thank You
• •• •• •• • • • ••• • • • Thank You • • • • • • Rajat Gupta (Go India Advisors) •• rajat@goindiaadvisors.com • • • • • • M: +91 99718 97739