BSE: 526488
BHUDEVI INFRA PROJECTS LIMITED
Operates as a single-segment infrastructure and construction business classified under residential and commercial projects, listed on BSE. FY26 revenue was ₹2.8776 crore, with extreme quarter-to-quarter lumpiness — operations revenue in Q2 FY26 was essentially nil at ₹0.06 lakhs while H1 FY26 revenue of ₹358.11 lakhs was booked entirely in Q1. FY26 net profit was ₹0.1163 crore against total assets of ₹13.7591 crore, producing an EBITDA margin of 5.164%. Costs are dominated by employee costs (31.1% of revenue) and other operating expenses (41.8%), with materials at 0% of revenue, pointing to a services-oriented cost base rather than a materials-heavy contractor. Capex was 16.7% of revenue in FY26. The balance sheet carries negative other equity of ₹391.95 lakhs, indicating accumulated losses, and borrowings of ₹913.02 lakhs as of September 2025, with operating cash flow negative for the year. Promoter entities hold 71.18% of the 45.89 lakh total shares outstanding, and the promoter family fills the Managing Director, Executive Director and CFO seats. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Infrastructure and construction (100%). Small, single-segment, project-based infrastructure and construction with highly lumpy revenue and accumulated losses
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · standalone | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 0 | 0 | 4 | 4 | 3 |
| EBITDA (ex other income) | (0) | (0) | 1 | 0 | 0 |
| margin % | — | (1448.2) | 32.5 | 12.7 | 4.9 |
| Owners' profit | 0 | 0 | 1 | 0 | 0 |
| EPS, as reported (₹) | 0.44 | 0.07 | 1.99 | 0.73 | 0.25 |
| ROE % · ROCE % | (35.4) · (35.4) | (131.1) · (131.1) | 136.7 · 99.5 | 33.4 · 44.6 | 10.4 · 8.5 |
| Debt / equity (x) | 0.00 | 0.00 | 0.86 | 6.71 | 8.13 |
| Cash from operations | 0 | 2 | 3 | (7) | (2) |
| Capex | 0 | 0 | (0) | (0) | (0) |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 0 | 3 | 1 | 0 | 0 | 0 | 3 | 0 |
| Profit before tax | (0) | 1 | (1) | (1) | (0) | (1) | 2 | (0) |
| Net profit | (0) | 1 | (1) | (1) | (0) | (1) | 2 | (0) |
| EPS (₹) | (0.49) | 1.93 | (1.20) | (1.50) | (0.52) | (1.10) | 1.45 | (0.87) |
Exhibit 3: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| KESAR INDIA LIMITED | 3,089 | 82.0 | 12.40 | 67.0 | 12.0 | 15.2 | — | 26.9 |
| MEGHNA INFRACON INFRA L | 1,460 | 215.4 | 54.28 | 143.3 | 20.8 | 33.9 | — | 15.3 |
| India Homes Limited | 1,015 | — | 27.41 | — | (31.0) | (17.8) | — | — |
| B-RIGHT REALESTATE LIMITED | 954 | 26.6 | — | — | — | 19.2 | — | — |
| SHRADDHA PRIME PROJECTS L | 666 | 11.9 | 4.88 | 11.3 | 39.1 | 20.2 | — | 16.1 |
| YOGI LTD. | 656 | 31.5 | 4.61 | 25.6 | 14.9 | 15.6 | — | 5.1 |
| HAZOOR MULTI PROJECTS LTD | 409 | 5.5 | 0.66 | 3.1 | 6.8 | 5.8 | — | 86.5 |
| RDB INFRASTRUCTURE AND POWER L | 340 | 17.3 | 1.28 | 21.5 | 4.7 | 5.7 | 16.3 | 23.7 |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/B | 27.0 | 1.1 | 68 of 70 | 3% |
| ROCE | 6.4 | 1.9 | 21 of 88 | 77% |
| ROE | 10.4 | 1.6 | 13 of 73 | 83% |
| Debt / Equity | 8.1 | 0.3 | 72 of 73 | 1% |
| Profit growth | 41.8 | (48.8) | 20 of 79 | 76% |
| Market cap | 30 | 30 | 45 of 88 | 49% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 13 Oct 2026 · Routine compliance certificate for dematerialization of securities for Q2 FY26 | compliance | minimal | — | — |
| 1 Oct 2026 · 34th AGM: All 4 Resolutions Passed Including Share Capital Hike | board shareholder meetings | low | — | — |
| 30 Sept 2026 · 34th AGM held; 4 resolutions including capital increase and director changes | board shareholder meetings | low | — | — |
| 30 Sept 2026 · Trading window closed ahead of Q2 FY26 results | compliance | minimal | — | — |
| 5 Sept 2026 · Newspaper ad on dispatch of 34th AGM notice and Annual Report FY 2025-26 | compliance | minimal | — | — |
| 4 Sept 2026 · 34th AGM on Sep 30 2026 - capital hike, director change and FY26 results | board shareholder meetings | low | — | — |
| 4 Sept 2026 · Bhudevi Infra 34th AGM on Sep 30; FY26 net profit Rs 11.63L, no dividend | board shareholder meetings | low | — | — |
| 2 Sept 2026 · Board approves hike in authorised share capital, fixes AGM on Sep 30 | corporate actions | medium | — | — |
| 2 Sept 2026 · Board approves authorised capital hike, fixes AGM on Sep 30 2026 | corporate actions | medium | — | — |
| 11 Aug 2026 · BSE seeks clarification on significant price movement | regulatory legal | high | — | — |
How to read this document
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions | an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
Sources, method and disclosures
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.