Grovy India Raises ₹15 Crore Through Preferential Issue to Expand South Delhi Real Estate Portfolio

PROPERTY PULSE, New Delhi, August 6: BSE-listed Grovy India Limited has raised ₹15.01 crore through a preferential issue of equity shares to accelerate its expansion plans in South Delhi’s premium real estate market. The company allotted 41.69 lakh equity shares of ₹10 face value, increasing its paid-up equity share capital to ₹17.5 crore. The strong participation from promoters and investors reflects confidence in the company’s consistent execution, growth strategy and leadership in South Delhi’s luxury housing segment.

Grovy India is currently executing residential projects spread across 1.83 lakh sq. ft. in key South Delhi locations, with deliveries scheduled between Q3 FY27 and Q4 FY28. During Q1 FY27, the company also acquired new premium residential projects covering nearly 50,000 sq. ft., strengthening its future development pipeline. It plans to raise a total of ₹40 crore by the end of FY27 and scale project execution to 20–25 residential developments annually over the next three years, subject to market conditions.

The company delivered a strong financial performance in Q1 FY27, reporting a 74% year-on-year increase in net profit to ₹1.9 crore, while total revenue surged 233% to ₹27.58 crore. On a quarter-on-quarter basis, net profit rose 114% and revenue increased 249%, reflecting robust project execution, improved profitability and disciplined capital allocation.