Eldeco Housing Signs Legally Binding Contract for 50.3 Acres in Strategic Lucknow Location
Eldeco Housing Secures 50.3 Acres in Strategic Lucknow Location
Eldeco Housing & Industries has executed a legally binding contract for a 50.3-acre contiguous land parcel in a prominent Lucknow location, marking a key move in the company's medium-term growth strategy. The acquisition was executed during Q1 FY27 (April–June 2026), as disclosed in the company's quarterly earnings announcement on 12 August 2026.
Strategic Scale and Growth Potential
The acquisition of over 50 acres positions the company for significant future growth, with a pipeline of 3.4 million sq ft expected to launch largely within FY27, subject to regulatory approvals. The 50.3-acre contiguous land parcel under contract has the potential to shape the company's next leg of growth, but the market will need clearer development plans and timelines as they firm up.
The parcel sits alongside the aggregation of another 15 acres by Eldeco during the same period, expanding the company's total land acquisition footprint in its primary market.
Eldeco's Operational Momentum
Eldeco Housing & Industries reported a Profit After Tax (PAT) of Rs 15.1 crore, a remarkable 382% increase year-on-year, with total income for Q1 FY27 surging 63% to Rs 50.3 crore. Collections reached Rs 131.2 crore, up 68%, while construction spending increased by 47.2% to Rs 57.8 crore.
Operationally, the company recorded bookings worth Rs 105.7 crore for 1.26 lakh sq ft in the quarter. The company also delivered 52 units during the quarter, handing over 49,405 square feet.
Developer Footprint
Based in Lucknow, Uttar Pradesh, the company is part of the Eldeco Group, which has a presence in most states of North India. Key current projects include Eldeco City, an integrated township spanning 133 acres at I.I.M Road, Lucknow; Eldeco Saubhagyam, a group housing project of approximately 11.9 lakh square feet; Eldeco Eterna, a group housing project of over 4.30 lakh square feet; Eldeco Shaurya, a 43-acre residential township; and Eldeco Regalia, a 33-acre mini township.