Hi. Good afternoon, sir. Congratulations for a great performance and for taking my question. So my first question is regarding our expectation for FY27 in terms of volume growth in the gray cement business?
Great to hear, sir. The second question is regarding the progress on the cost reduction front. Any commentary on that would be great.
Hi. Good afternoon and thanks for taking my question. So my first question is containing to Biplab’s question. In NCR, we also have added another project, Prestige Meadows 3.8 million square feet. So just wanted to get some more colo ur on it. Is this our Gurgaon project and we expect to launch this in FY27?
And this is the Sector 92, if I'm not wrong?
Hi, good afternoon. Thanks for taking my question. So, you mentioned that in Q4, we had a sizable provision in one project. So, would it be possible to get a quantum of the total provision that is made in Q4 across all projects?
And what would have been this number for FY26?
Hi, good afternoon, and thanks for taking my question. So, my first question is regarding our bid pipeline. You mentioned that we have a strong bid pipeline. Now, in H1, just wanted to get colour on the incremental bids , which have, let's say, got added to this bid pipeline. In which segment would we have seen new projects getting added to the bid pipeline in the last 6 months? And also, some colour on the geography, whether it's domestic or overseas, where these new projects have come, that would be great.
Sure, sir. Second, what would be your view on competitive intensity in overseas projects? Do you believe there we will find lesser competition, compared to what we are seeing domestically?
So, my first question is regarding the payment cycle. I mean, you mentioned you've received about INR1,000-odd crores in U.P. in Q4 on JJM. Now overall, regarding payments across all projects. Would you say the payment cycle has improved in Q4 compared to, let's say, what it was in CY25 or do you think issues still remain here and there?
That's great to hear. Second, you gave the numbers about JJM projects in U.P. Would it be possible to get those numbers about our overall JJM order book, I mean, including orders that we might have in other cases also, what is the order book and what are the payment outstanding there?
So as Neerad ji obviously highlighted that the quantum of execution that you can do depends on 2 things. One is what is the ROW that your client has provided to you? And second, what is the payment that we can make. I mean only then can we successfully execute the project. So 2 related questions from my side of this INR 80,000-odd crores order book that we have. What is the quantum of projects where work has not started because the client has not provided you with ROW or because of whatever approval-related reasons? And the second is, I mean, you did talk about JJM. But apart from JJM, which are the other sectors and projects which are facing payment issues?
No, no, I anyway wanted detail about segments, but yes, I mean, we'll connect offline. Not an issue.
So 2 questions from my side. We have already won about INR 17,000-odd crores orders till October. In addition to that, do we have any other L1 projects currently?
Okay. So then the related question is, I mean, of our overall order book, ultimately, the water projects are only around -- or projects where we are facing payment issues are maybe only around 10% of the order book. So if we remove that, then let's say, what are the kind of projects where work is yet to start because maybe we got them only towards March or so. In other words, what I want to ask is what is the current executable order book where work is already underway?
Hi, thanks for taking my question. So a couple of questions for Sriram sir. One, on the 4 blocks, which are under construction in Gurgaon, DT 5 to 8, what is the construction timeline also same for the mall that we are making in Gurgaon. And the second question is of both , DT 5 to 8 in Gurgaon, and the Block 4, 5 in Chennai, what is the pre -leasing status considering that in our existing portfolio anyway, we don't have much to lease? Thank you.
Sure, sir. Thanks, and all the best.
Hi, good afternoon, team, and thanks for taking my question . So, my first question is what was the GDV of launches that we did in Q4 and also a similar number for FY26 would be great?
No, you answered the second part. My second question is what was the contribution of launches to our Q4 FY26, pre-sale?
Hi, good afternoon and thanks for taking my question. So, a couple of questions from my side. I mean you mentioned that you're taking cognizance of the fact that with increasing prices, customers are also sensitive to ticket size. So, of the overall launches, let's say, which are planned over the next 4 quarters, what would be a broad split in terms of ticket size across all your projects? I mean, let's say, what percentage will be in the INR2 crores to INR3 crores, what will be above INR3 crores or INR5 crores? Any data on that would be great.
You mentioned that in the 9 months, we have done deals for INR2,100 crores. Is this the payment that we need to make for these deals? Or is this INR2,100 crores is the land capping that we have already done in the 9 months?
Hi, good evening sir and thanks for taking my questions. I'm sorry if you've answered this question earlier, but just wanted to get what was our kcal cost in Q4?
Sure. And just one more question. What would have been our fuel mix in Q4? Subhash Jajoo: For Q4, it was pet coke was 54%, coal was 32% and alternative fuel was 14%.
So my first question is of the 10-odd million square feet that we plan to launch in FY ‘27, what would be the GDV of these projects?
Sure. And we have either released or unreleased inventory of about INR1,200 crores, INR1,300- odd crores in our existing projects. So is that the fair way to look, we’ll have maybe close to about INR27,000, INR28,000 crores.
Two questions from my side. First, I mean, over the last 4, 5 years, the industry clearly has seen the benefits of premiumization. Our own – I mean, sales in terms of ticket size, the data that we see has clearly seen a move towards higher ticket items till FY ’ 25. Now in the first half of FY ’26 and especially in Q2, we again saw very good contribution from the up – to INR2 crores or INR2 crores to INR3 crores ticket sizes. Now I know one should not really focus too much on 1 quarter or half. But do you think now probably we have reached a point where the mid-income segment will probably claw back some of the share that it has lost? Or do you think the premiumization trend is inevitable largely because the prices have increased so much over the last couple of years? That’s the first question. And second, it would be great to hear your thoughts on demand in some of the major markets that we operate, especially with regards to the upcoming festive season.
Congrats for a great set of numbers. So a couple of questions from my side. First, when we talk about this potential launches of 8 million to 9 million square feet, does this include the launches that we have already done in Q1? Or does it exclude it?
Sure. And what will be the total, let’s say, sales potential of the 8 million square feet over the 3 quarters?
Hi, good morning. Thanks for taking my question. Two questions from my side first. First, you said that consumption growth ex of electronics and jewelry was maybe 17-18% in Q4. What would have been a similar number for FY26 as a whole?
FY26 consumption growth was 21% but if you adjust for jewelry and electronics then what would that number have been?
I'm sorry if you've answered this question earlier, but just wanted to get your views on any potential wagon tender from the Indian Railways? What could be timing of such a tender, if any?
So two questions from my side. You mentioned that our demand trend seems to have now stabilized and the frenzy at least from a speculative activity point of view is no longer there. Has the same kind of stabilization been seen on the business development competitive intensity also? Can you get land at better areas today compared to, let's say, where things were 1 year back? That's the first question. And second, your views on price hikes, let's say, in FY '27 would be great. I mean what kind of price appreciation can we see growing there?
Sure. And on price appreciation?
Hi, good afternoon. And thanks for taking my question. So, my first question is on the pricing front. Now you did mention that demand remained strong, we are able to sell 70%, 80% of our launch inventory pretty soon. So, what would have been, let's say, the like-to-like price increase that you would have taken in Q1?
Sure. The second question is, over the last 2 years, obviously, demand has been pretty good. We have seen an increase both in land prices as well as the price realization on the various projects. So, in your estimation, an IRR for a project acquired recently, how will it compare with, let's say, BD deal that you would have done 3 or 4 years earlier? Will the IRR be same, higher, lower? Just wanted to get your views.
Hi. Good evening, sir. Thanks for taking my question. So a couple of questions from my side. First, I think we have about 6 different orders in the passenger coach segment across Vande Bharat and the 5 different metro rail projects that we have. It would be great to hear your views on when can execution start on each of the se individual fixed projects? And second is on the wagon business. It is great to hear that wheel set availability has now become normal and we have ramped up to our usual range. With regards to future, what is our view on wagon tendering, especially from the Indian railways? Thank you.
Thank you, sir. I will come back in the queue for more questions.
Hi, good afternoon, and thanks for taking my question. So, a couple of questions from my side on the passenger business. So, we mentioned in a press release that we expect the dispatch of Ahmedabad Metro coaches to start in Q3. So, by when do we expect to kind of complete this order - - will it be in one year or will it be slightly longer?
Sure. For the Mumbai Metro Line 6 order that we have recently received for 108 coaches, the execution timeframe is I think about 24-odd months. So, from when does this 24-month start?