Horizon Industrial Parks reported a 30% year-on-year increase in revenue to ₹215 crore for the quarter ended September 2026, as the Blackstone-backed platform leased a record 2.5 million square feet.

Key Takeaways

  • Operating profit rose 34% year on year to ₹173.5 crore, with an 81% operating margin.
  • First-half leasing reached 4.4 million square feet, or 68% of the full-year target.

Horizon Industrial Parks results and leasing

Occupancy across the company’s stabilized portfolio stood at 94% at the end of the second quarter of fiscal 2026–27. Horizon added eight customers during the quarter, with industrial occupiers leading leasing activity.

Its customer base reached 130 unique customers across sectors including e-commerce, logistics, automotive, renewable energy and data centers. CEO Urvish Rambhia said the record leasing reflected continued occupier demand for industrial and logistics space in India.

Development targets and debt

Horizon delivered six buildings covering 1.8 million square feet across four markets during the quarter. First-half completions reached 2.7 million square feet, and the company said it remained on track to deliver 6 million square feet during fiscal 2026–27.

The company’s full-year leasing target is 6.5 million square feet. Those targets are forward-looking and separate from the space already leased or completed.

Horizon said it completed post-initial public offering deleveraging, reducing net debt to ₹2,765.1 crore. Its net debt-to-enterprise value ratio was 15%.

Portfolio footprint

Horizon’s industrial and logistics parks platform spans 61 million square feet across 46 assets in 10 cities, including approximately 32 million square feet of operational assets. Its in-city network comprises 17 sites totaling 7 million square feet.

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