Synopsis:
A realty stock witnessed a decline in bookings and sales value in Q2 FY26, with both quarter-on-quarter and year-on-year metrics dropping sharply. The company reported moderation in operational performance, while new project launches and ongoing handovers supported limited sales activity during the quarter.
A realty stock witnessed a decline in bookings and sales value in Q2 FY26, which impacted investor sentiment and weighed on its stock price. The company’s area booked fell sharply, and the value of sales contracted significantly, reflecting moderation in operational performance despite ongoing project launches and handovers.
Ashiana Housing Ltd, with a market capitalization of Rs. 2,882.55 crore, opened at Rs. 287, touched a low of Rs. 285.10 from its previous close at Rs. 290, reflecting an intraday drop of 1.34 percent from the previous close.
What’s the News?
In the Q2 FY26 Business Update, Ashiana Housing Ltd’s total area booked dropped to 4.13 lakh square feet, down 30.6 percent from 5.95 lakh square feet in Q1 FY26 and 43.4 percent from 7.3 lakh square feet in Q2 FY25.
The value of area sold fell to Rs. 303.43 crore, down 29.5 percent from Rs. 430.97 crore in the previous quarter and 54.9 percent compared to Rs. 673.05 crore in the same quarter last year.
During the quarter, 307 units were booked against 407 units in Q1 FY26 and 482 units in Q2 FY25. The Ashiana Swarang Phase-2 project was launched with 16 units sold (0.21 lakh sq. ft.), generating Rs. 20.19 crore in sales from a total of 80 units.
By comparison, Q2 FY25 had higher bookings primarily due to the Ashiana Amarah Phase-4 launch in Gurugram, which sold 183 units (area 2.95 lakh sq. ft.) worth Rs. 421.98 crore.
Sales in Q1 FY26 were driven by the Ashiana Tarang Phase-6 launch in Bhiwadi (117 units sold, area 1.46 lakh sq. ft., Rs. 68.23 crore) and Ashiana Aravali in Jaipur (30 units sold, area 0.75 lakh sq. ft., Rs. 56.26 crore). Handover of Ashiana Tarang Phase IV-B and Ashiana Advik Phase-1 in Bhiwadi commenced during Q2 FY26.
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Financial Snapshot
Quarter-on-Quarter (QOQ): Sales increased from Rs. 218 crore to Rs. 293 crore, up 34.4 percent, while operating profit declined from Rs. 18 crore to Rs. 12 crore, down 33.3 percent. PBT fell from Rs. 26 crore to Rs. 18 crore, down 30.8 percent, and net profit decreased from Rs. 20 crore to Rs. 13 crore, a decline of 35 percent.
Year-on-Year (YOY): Sales jumped from Rs. 123 crore to Rs. 293 crore, up 138.2 percent, operating profit turned positive from a loss of Rs. 6 crore to Rs. 12 crore, PBT rose from a loss of Rs. 5 crore to Rs. 18 crore, and net profit improved from a loss of Rs. 5 crore to Rs. 13 crore.
About the Company
Ashiana Housing Ltd (AHL) was incorporated in 1986 in Kolkata by Mr. Om Prakash Gupta and has been active in residential real estate development since inception. The company focuses primarily on phased residential projects, including senior living developments, with some projects undertaken in joint ventures with other developers. The portfolio spans multiple locations and stages of completion, highlighting its long-standing presence in the Indian housing sector.
Written By Manan Gangwar
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