Published: 16th Sep 2024
By: Value Research
The company is a real estate developer specialising in residential development and redevelopment projects, primarily in the Mumbai Metropolitan Region.
Total IPO size (Rs cr) 410 Offer for sale (Rs cr) - Fresh issue (Rs cr) 410 Price band (Rs) 121 -128 Subscription dates September 16-19, 2024 Purpose of issue To fund existing projects and potential acquisitions
2376 Net worth (Rs cr) 733 Promoter holding (%) 70.8 Price/earnings ratio (P/E) 19.3 Price/book ratio (P/B) 3.2M-cap (Rs cr)
2Y CAGR (%) FY24 FY23 FY22 Revenue (Rs cr) 66.5 635 220 229 EBIT (Rs cr) 64.7 167 64 62 PAT (Rs cr) 56 123 51 51 Net worth (Rs cr) 323 200 150 Total debt 71 149 64Key financials
EBIT is earnings before interest and taxes PAT is profit after tax
Ratios 3Y average FY24 FY23 FY22 ROE (%) 38.9 46.9 29 40.9 ROCE (%) 32.2 44.9 22.8 28.8 EBIT margin (%) 27.5 26.4 29.2 26.9 Debt-to-equity 0.4 0.2 0.7 0.4
ROE is return on equity ROCE is return on capital employed
The company has a solid track record of timely project completions. It has successfully developed 28 projects with an average completion time frame of 3 years.
Concentration of operations in a single region and complex negotiations in redevelopment projects, where it is increasing its focus are some risk factors. To check the complete analysis, head on to our full story from the link below.