Grovy India Raises Rs 15 Crore Through Preferential Issue to Fuel South Delhi Expansion
New Delhi, August 6, 2026: BSE-listed Grovy India Limited announced today that it has raised Rs 15.01 crore through a preferential issue of equity shares to fund its expansion plans and deepen its presence in the South Delhi real estate market. The company’s preferential issue committee of the Board of Directors approved the allotment of 41,69,433 equity shares of face value Rs 10 each for an aggregate amount of up to Rs 15,00,99,588 on a preferential basis. Consequent to the allotment, the paid-up equity share capital of the company has increased to Rs 17,50,57,050, comprising 1,75,05,705 equity shares, the company said in a press release.
The participation of both promoters and investors in the fundraise highlights confidence in the company’s growth trajectory, execution capabilities, and leadership within the South Delhi micro-market. Grovy India is currently executing residential projects spanning 1.83 lakh sq. ft. across prime South Delhi locations, with deliveries scheduled between Q3 FY27 and Q4 FY28. Additionally, during Q1 FY27, the company acquired new premium residential projects covering approximately 50,000 sq. ft. in the area.
Commenting on the development, Ankur Jalan, Director of Grovy India, said, “The strong participation is an endorsement for the company’s robust brand equity, consistent execution, quality developments and a focused business strategy. The company’s deep understanding of one of India’s most premium micro-markets positions it well for sustainable long-term growth. The micro market has a significant value creation potential as the demand for luxury developments in South Delhi continues to strengthen.”
Looking ahead, the company outlined plans to raise a total of Rs 40 crore by the end of FY27 to support its broader growth targets. Outlining the operational trajectory, Jalan further added, “We aim to scale execution towards 20–25 projects annually over the next three years, subject to market conditions and project availability.”
The fundraising announcement follows strong financial results reported for the first quarter of FY27, where Grovy India’s net profit jumped 74% year-on-year to Rs 1.9 crore, while total revenue surged 233% year-on-year to Rs 27.58 crore. On a quarter-on-quarter basis, the South Delhi-headquartered developer recorded a 114% increase in net profit and a 249% surge in total revenue, driven by accelerated project execution, improved profitability, and disciplined capital allocation.
