Earning Conference Call transcript.

Date: 10.11.2026 Corporate Relations Department Listing Compliance Department BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers, Exchange Plaza, Dalal Street, Mumbai - 400 001 Plot No. C/1, G Block, Bandra-Kurla Complex, Bandra (East), Mumbai - 400 051 Scrip Code: 506194 Symbol: ARIHANTSUP Class of Security: Equity Series: EQ Sub: Earning conference call transcript. Dear Sir/Madam, Please find attached the Transcript in respect to the Earning Conference call for the quarter and half year ended September 30, 2026, conducted on November 05, 2026 at 10:30 a.m. The transcript of the conference call can also be accessed at the website of the Company at https://www.asl.net.in/investors.php This is for your information and records. Thanking you, Yours faithfully, Arihant Superstructures Limited Manoj Dhondge Company Secretary and Compliance Officer “Arihant Superstructures Limited Q2 & H1 FY '26-'27 Earnings Conference Call” November 05, 2026 MANAGEMENT: MR. PARTH CHHAJER – JOINT MANAGING DIRECTOR – ARIHANT SUPERSTRUCTURES LIMITED MR. UDIT KASERA – CHIEF FINANCIAL OFFICER – ARIHANT SUPERSTRUCTURES LIMITED MODERATOR: MS. DEEPALI KUMARI – ARIHANT CAPITAL MARKETS Page 1 of 9 Arihant Superstructures Limited November 05, 2026 Moderator: Ladies and gentlemen, good day, and welcome to Arihant Superstructures Limited Q2 and H1 FY 26-'27 Conference Call. As a reminder, all participant lines will be in the listen-only mode and there will be an opportunity for you to ask questions after the presentation concludes. Should you need assistance during the conference call, please signal an operator by pressing star then zero on your touch-tone phone. Please note that this conference is being recorded. I now hand the conference over to Deepali Kumari. Thank you, and over to you, ma'am. Deepali Kumari: Thank you so much. Hello, and good morning to everyone. On behalf of Arihant Capital Markets Limited, I thank you all for joining the Q2 and H1 FY27 Earnings Conference Call of Arihant Superstructures Limited. Today from the management, we have with us Mr. Parth Chhajer, Joint Managing Director; and Mr. Udit Kasera, Chief Financial Officer of the company. So, without any further delay, I will hand over the call to the management for their opening remarks. Over to you, sir. Parth Chhajer: Good morning, everyone. Wishing you and your families Happy Dussehra and forthcoming Diwali ahead. Thank you for taking time to join Arihant Superstructures conference call to discuss results and updates for the Q2 & H1 FY27. I believe you've had the opportunity to review our financials and investor presentation, which is filed with the exchanges. I will now request our CFO, Mr. Udit Kasera, to take you through the financial highlights for the quarter, after which I will share the key operational and business updates. Udit Kasera: Good morning, everyone. Let me first start by briefing you on the financial highlights for the quarter under review as well as the half year ended 30th September. For this half year, our operating revenue stood at INR 265 crore, representing a growth of about 9% year-on-year. EBITDA stands at INR 56 crore with a margin of 20.97%. The profit after tax stood at INR 20.3 crore with a PAT margin of 7.68%. The consolidated operating revenue for Q2 stood at INR133 crore, reflecting an increase of around 9% year-on-year. The EBITDA stood at INR28 crore, down by 7% year-on-year, roughly up by 1.5% with respect to last quarter. The EBITDA margin stood at 21%, PAT stood at INR10.6 crore with a PAT margin of 7.92%. The net worth of the company stood at INR475 crore, net debt at INR827 crore, and unsecured loans amounted to INR435 crore. With this, I would like to hand over the call to Mr. Parth Chhajer to talk about key operational highlights. Parth Chhajer: Thank you. Now moving on to the key operational highlights for the quarter. First, to explain about how we see the sector. We see that the demand has held steady over the last 1 year. Prices continue to rise in every major market, which tells us that end- user demand remains healthy. There are 2 standouts in this. Page 2 of 9 Arihant Superstructures Limited November 05, 2026 First, buyers are moving up the price ladder, and second, the supply is running ahead of absorption. On cost, the labour availability and input raw material prices stayed tight throughout the quarter. Our approach is to recover these increases through pricing on unsold inventory rather than chase volume at the cost of margin. Now to talk about the operational highlights for the quarter. During the quarter, the company achieved sales bookings of 236 units equivalent to 2.2 lakh square feet of area amounting to INR173 crore in value. The average price per square foot stood at INR7,822 compared to INR7,500 per square foot in Q1 FY27. The average price per unit stood at INR73.15 lakhs. The collections for the quarter stood at INR154.5 crore. And just to give a glimpse of how the H1 has shaped up in end of September 2026. The company achieved total sales bookings of 457 units equivalent to 4.52 lakh square feet of area amounting to INR345.8 crore in booking value. The average price per square foot stood at INR7,650 per square feet in H1 FY27 compared to INR 7,500 per square feet in H1 FY26. The average price per unit sold stood at INR 75.6 lakh. The total collections for the half year stood at INR316 crore. Our inventory position remains comfortable with unsold ready inventory of around 275 units valued at INR53 crore. Now just to update about our key project and development in that for the quarter. World Villas, as we know, at Chowk, is one of our key projects, and that's where our first hospitality platform ventures are also being undertaken. On 24th of September, we signed an agreement with ITC Hotels Limited to develop a 227-room luxury hotel, which includes 44 suites under the Mementos by ITC brand. This will sit on a total 10-acre land parcel within the 90-acre development at World Villas. We expect that this hotel will have one of the largest banqueting facilities in the region, which will help us aim to do a destination wedding, MICE events and leisure travel. To be more specific about the economics, the land is already ours, bought earlier, so the cost base is a fraction of what we would have had to pay if we had to do the same hotel in the city. Construction for the hotel should take about 3 years, and we expect revenues to start from FY29 onwards. It's a management contract model, so we are the owners of the property and ITC will be managing and operating the entire hotel. Alongside with this, we are also seeing progress at our Club 10 Gymkhana's construction. We have started with the first slab. And we've already gathered more than 800-plus memberships on that front. And we have also announced a 108 key budget hotel, for which we are in talks to finalize the operator shortly. With this now, I open the floor for question and answers. Thank you. Moderator: Thank you very much. We will now begin the question-and-answer session. The first question is from the line of Paras Chheda from Purpleone Vertex Ventures LLP. Page 3 of 9 Arihant Superstructures Limited November 05, 2026 Paras Chheda: Congratulations for a decent set of results. Sir, my question is this rising interest rate scenario across the globe and also probably within India, what is the demand outlook for this affordable and mid-income housing? Will that kind of moderate, I mean, the demand growth going forward? Parth Chhajer: Well, costs have been down with respect to the rate of interest for the last 3 years, and we were expecting this rate hike because of the geopolitical movements that are happening across the world. And it may be spiked up more in the coming quarters as well by another 25 to 50 basis points. With respect to demand, there is good demand for affordable and mid-income housing. However, affordability and own contributions remain a challe [Showing first 8,000 characters — download PDF for full document]