Ashiana Housing Ltd(ASHIANA)

NSE: ASHIANABSE: 523716

₹ 346.65-2.83%refreshed 23 Oct, 03:30 pm ISTMarket cap: ₹ 3,485 crNext results: 4 Nov 2026Website: www.ashianahousing.comUpdated: 24 Oct 2026

About

Ashiana Housing Ltd is an integrated Indian real estate developer. Its homes fall into three groups: Senior Living, Premium Housing & Elite Homes, and Kid Centric Homes. It operates in 9 locations across 7 states and has no international presence. Revenue was Rs 1,143.01 Cr in FY26. Total gross development value is about ₹16,000 crore, about ₹8,000 crore of which is Senior Living, and Track2Realty has ranked it the No. 1 Senior Living Brand for nine consecutive years.^[1][2]

Business segments

Real Estate segment revenue was Rs 1,053.03 Cr in FY26, compared with Rs 444.43 Cr in FY25.^[1][3]
Real Estate Support Operations revenue was Rs 80.86 Cr in FY26, compared with Rs 69.7 Cr in FY25.^[1][3]
Hotel and club revenue was Rs 9.4 Cr in FY26, compared with Rs 9.04 Cr in FY25.^[1][3]
Senior Living has grown from about 10% of the business in FY22-23 to 23% of the ongoing project portfolio by area as of Q1 FY27.^[4]
Senior Living bookings were a record ₹570 Cr in FY26, up from ₹383 Cr in FY25, covering 569 units and 7.37 lakh sq ft.^[5]

Products and market position

Products fall into three groups: Senior Living, Premium Housing & Elite Homes, and Kid Centric Homes (FY26).^[1]
Track2Realty has ranked Ashiana the No. 1 Senior Living Brand for nine consecutive years. The company describes itself as a pioneer of Senior Living housing in north India.^[1]
As of 31 March 2026, the company had constructed 349.21 lakh sq ft of saleable area in total.^[1]
Total gross development value is about ₹16,000 crore, of which about ₹8,000 crore (50%) is Senior Living (FY26).^[1]

Key operating numbers

Value of area booked was a record Rs 2,421.13 Cr in FY26, up 25.01% from Rs 1,936.75 Cr in FY25. The launch of Aaroham Phases 1 and 2 in Gurugram drove the increase.^[1][3]
Sales volume was 26.73 lakh sq ft in FY26, compared with 26.98 lakh sq ft in FY25.^[1]
Average realisation rose from ₹7,179 per sq ft in FY25 to ₹9,059 per sq ft in FY26.^[1]
Average realisation was ₹9,923/sq ft in Q1 FY27, compared with ₹7,245/sq ft in Q1 FY26.^[4]
Q2 FY27 bookings were ₹1,192.04 Cr on 13.07 lakh sq ft across 525 units. Q1 FY27 bookings were ₹358 Cr on 3.60 lakh sq ft across 234 units.^[6]
Collections were ₹1,762 Cr in FY26 and ₹409 Cr in Q1 FY27. Pre-tax operating cash flow was ₹577 Cr in FY26 and ₹121 Cr in Q1 FY27.^[5]
Equivalent area constructed was 26.19 lakh sq ft in FY26, up 30% year on year, and 5.60 lakh sq ft in Q1 FY27. The company handed over 1,320 units in FY26.^[1][5]
Ongoing projects totalled 91.83 lakh sq ft at FY26, of which 72.28 lakh sq ft was booked, compared with 83.94 lakh sq ft (66.63 lakh booked) at FY25.^[1][3]

Markets and customers

The company operates in 9 locations covering 7 states and has no international presence (FY26).^[1]
Gurugram was the largest market in FY26, with over ₹1,087.91 crore of net booked sales (358 units).^[1]
Customers are end users and investors. The FY26 annual report says most come from the existing customer pool.^[1]
The company is evaluating Bengaluru and Hyderabad as new markets for Senior Living (FY26).^[1]
Three Mumbai Metropolitan Region Senior Living projects are set at different price points: Talegaon (Ashiana Amodh, lower end), Karjat/Wavarle (middle) and Panvel (top end).^[7]

Land bank and pipeline

Future projects: 9 projects, including new phases of existing projects, with about 38.84 lakh sq ft of saleable area (FY26), compared with 36.79 lakh sq ft in FY25.^[1][3]
The future Senior Living land bank was 50.40 lakh sq ft across 67.09 acres as of Q1 FY27.^[4]
Milakpur land (40.63 acres, about 31 lakh sq ft potential saleable area) is under acquisition, and the company's writ petition is pending (FY26).^[1]
Vadgaon, Maval (Pune): 28.55 acres acquired for Senior Living, with about 20 lakh sq ft saleable area and ₹1,800 Cr sales potential. Launch is targeted for H2 FY28.^[4]
Bangalore JDA (Kanakapura Road, Senior Living, about 11 lakh sq ft): a key condition precedent was resolved, and final documentation was in progress as of Q1 FY27.^[4]

Ongoing and upcoming projects

Ashiana Aaroham (Gurugram): Phases 1 and 2 have a combined sale value above ₹1,100 Cr. Phase 3 (about 3.88 lakh sq ft) is targeted for launch in Q3 or Q4 FY27.^[7]
Ashiana Oma (Jaipur, about 10.9 lakh sq ft) launched in July 2026; 222 of its 280 units were converted.^[4]
Ashiana Aaranya (Chennai MWC, about 15 lakh sq ft, about ₹1,800 Cr GDV) and Ashiana Tattvam (Panvel) are targeted for launch in Q4 FY27.^[5]
Handovers began in Q2 FY27 at Ashiana Anmol Phase 3 and Ashiana Amarah Phase 1 in Gurugram.^[4]

Expansion and capex

The FY27 budget for land and capital deployment is ₹800 Cr, covering Vadgaon and all active deal discussions.^[4]
Five Senior Living projects with combined GDV above ₹6,500 Cr (Chennai, Bangalore, MMR/Pune) are targeted for launch within 12-24 months of Q4 FY26.^[5]
The combined GDV of the MMR/Pune Senior Living projects (Vadgaon, Panvel, Wavarle) is about ₹3,500 Cr.^[5]
Capital policy: the company aims to keep its gearing ratio below 30% and reported no covenant breaches (FY26).^[1]

Recent developments

October 2026: the Q2 FY27 operational update reported 525 units booked, 13.07 lakh sq ft and ₹1,192.04 Cr of booking value.^[6]
April 2026: the company acquired the 28.55-acre Vadgaon (Maval, Pune) parcel for Senior Living, next to its existing Ashiana Amodh project.^[4]
FY26: the Mahindra World City Jaipur Senior Living lease was terminated because social infrastructure layout approvals could not be obtained.^[5]
FY26: assisted living operations at Bhiwadi Care Homes were outsourced to Epoch Elder Care on a management-fee model.^[7]
Q2 FY26: Ashiana Aaroham (Gurugram) received ₹100 Cr of NCD funding from IFC.^[8]

Market Cap

₹3,485 Cr

High / Low

₹448 / 270

Stock P/E

29.4

Price / Book

4.0

Book Value

₹86

EPS

₹11.7

No. of Shares

10.05 Cr

ROCE

14.1%

ROE

14.5%

OPM

13.5%

Debt / Equity

0.36

Sales

₹1,143 Cr

Net Profit

₹118 Cr

Promoter holding

61.1%

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