BHANDERI INFRACON LTD

Develops real estate projects and runs a diamond/jewellery export business through a holding structure based in Ahmedabad. The real estate arm works through project-specific subsidiaries named for Gujarat locations — Bhanderi Gandhinagar Projects, Bhanderi Pethapur, Bhanderi Talod and Bhanderi Kethwada — plus the partnership firm Dharnidhar Developers, while the diamond/jewellery business sits in subsidiary Hareram Jems & Exports. Group company Bhanderi Corporation Limited is approved as a related party for purchases of goods and services up to Rs 100 crore per financial year, a large flow relative to the company's revenue base. Short-term borrowings on a consolidated basis reached Rs 4,894.79 lakhs in FY26, and a fresh Rs 415 lakh overdraft was taken from Indian Bank at 9.80% secured against 8,676 sq. meters of residential land in Ahmedabad. Consolidated operating cash flow was negative at Rs 688.89 lakhs in FY26 even as net profit stayed positive. Materials are the largest cost line at 64.6% of revenue, followed by employees at 14.5% and other operating expenses at 10.4%. The company is listed on the BSE SME platform and has not adopted Ind AS.