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Modi’s Navnirman Delivers Record 9M FY26 Performance, Beats Full FY25 Earnings

Modis Navnirman ltd

Mumbai, February 17, 2026: Modi’s Navnirman Limited has announced its unaudited consolidated and standalone financial results for the quarter and nine months ended December 31, 2025. The company has delivered its strongest-ever nine-month performance, surpassing its full FY25 earnings.

Q3 FY26 Performance Highlights

  • Earned INR 12.8 crore profit in Q3 FY26
  • Revenue rose by 70% year-on-year to INR 54.4 crore, supported by strong project execution.
  • EBITDA jumped 84.88% to INR 14.8 crore with improved margins due to better cost control.
  • Company remains debt-free, giving flexibility for future growth.
  • Secured a key redevelopment mandate at Borivali (West) with an estimated Gross Development Value of approximately INR 250 crore.
  • Completed merger of Shree Modis Navnirman Pvt. Ltd., a landmark consolidation in Mumbai’s real estate sector.

9M FY26 Performance Highlights

  • Achieved INR 24.8 crore profit in nine months — more than the full FY25 earnings.
  • Revenue rose by 103.36% year-on-year to INR 137.8 crore, supported by strong project execution.
  • EBITDA jumped 102.42% to INR 30.9 crore with improved margins due to better cost control.
  • Area sold grew 38.69% YoY to 36,080 sq. ft.
  • Company remains debt-free, giving flexibility for future growth.
  • Completed handover of “Rashmi Vasudeo”, Borivali (W) — 90 homes delivered on time.
  • Completed merger of Shree Modis Navnirman Pvt. Ltd., a landmark consolidation in Mumbai’s real estate sector.
  • Migration to BSE & NSE Main Boards completed — enhancing visibility, governance, and investor confidence.

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Modi’s Navnirman Limited Chairman & Managing Director Dinesh C. Modi said, “Our Q3 and 9M FY26 performance reinforces the structural momentum in both our financial trajectory and project pipeline. With nine-month revenue registering strong growth and profitability scaling significantly, we are executing on our core redevelopment strategy with increasing conviction.

“Beyond the financial performance, the quarter was marked by meaningful strategic progress. We secured a key redevelopment mandate at Borivali (West) with an estimated Gross Development Value of approximately ₹250 crore. This addition further strengthens our presence in high-demand western suburban micro-markets, where redevelopment continues to be driven by ageing housing stock and strong end-user absorption. Our project acquisition approach remains selective, focusing on societies where execution clarity, margin visibility, and timely approvals are achievable.

“Importantly, we continue to remain debt-free even as we scale revenues and expand our pipeline. In the current real estate environment, where funding costs remain elevated and liquidity discipline is critical, our conservative capital structure provides flexibility and resilience. The significant improvement in EBITDA and PAT margins during the quarter demonstrates that our redevelopment-led model benefits from operating leverage once projects reach advanced stages of execution and revenue recognition.

“Looking ahead, we remain focused on accelerating construction progress across ongoing projects, converting society- level opportunities into executable mandates, and maintaining margin quality. Our objective is clear calibrated growth supported by strong cash flows, disciplined cost structures, and long-term value creation rather than volume- driven expansion.”

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