BSE: 505250
G. G. Dandekar Properties Limi
Owns and leases out commercial property in Pune, centred on the Suma Center building. In FY26 the real estate division generated Rs 2.51 crore of revenue (93.4% of segment revenue) at an 11.9% segment EBIT margin, while a residual manufacturing division brought in Rs 0.18 crore (6.6%) and ran deep segment operating losses. FY26 consolidated revenue from operations was Rs 3.51 crore and net profit Rs 1.62 crore, but profit was lifted by one-off items: a Rs 394.94 lakh gain on sale of freehold land at Bhiwandi and a Rs 232.01 lakh gain from a buyback at associate Navasasyam Dandekar Pvt Ltd (NDPL). The underlying leasing activity has posted operating losses in several recent quarters (a Rs 28.92 lakh loss before exceptionals in Q3 FY26, for example). The single biggest deal on file is a 5-year Leave and License agreement signed in May 2026 for 10,000 sq ft on the 4th floor of Suma Center, Pune, commencing 1 July 2026, with annual license fees pegged at roughly 39% of consolidated turnover. Costs are dominated by depreciation at 74.3% of revenue, with employee costs at 18.9% and other operating expenses at 40.6%; capex was negligible at 0.3% of revenue. AR · MarketPing reader · 2026-08-03
Revenue streams, as the annual report describes them. Real estate (property leasing) division (93%), Manufacturing division (7%). Small, asset-heavy commercial property leasing company with a residual, loss-making manufacturing line
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 1 | 3 | 3 | 4 | 4 |
| EBITDA (ex other income) | (2) | 1 | 1 | 1 | 3 |
| margin % | (163.9) | 46.2 | 44.4 | 31.8 | 78.3 |
| Owners' profit | 0 | 0 | (4) | 0 | 0 |
| EPS, as reported (₹) | 34.62 | (9.03) | (9.27) | 0.13 | 3.40 |
| ROE % · ROCE % | 29.4 · 29.9 | (5.8) · (1.0) | (8.9) · (1.3) | 0.1 · (2.0) | 3.2 · 1.7 |
| Debt / equity (x) | 0.00 | 0.09 | 0.09 | 0.08 | 0.07 |
| Cash from operations | (4) | 1 | 1 | 1 | 1 |
| 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 | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 1 |
| Profit before tax | (0) | (0) | (0) | 4 | (0) | (3) | (0) | (0) |
| Net profit | (0) | 1 | (1) | 4 | 0 | (3) | 0 | (0) |
| EPS (₹) | (0.78) | 2.93 | 1.26 | 8.08 | 0.13 | 5.59 | 0.78 | (0.54) |
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. % |
|---|---|---|---|---|---|---|---|---|
| ADITYA INFOTECH LIMITED | 46,904 | 97.4 | 24.99 | 80.9 | 19.6 | 24.5 | — | 14.8 |
| SYRMA SGS TECHNOLOGY LTD | 30,105 | 81.2 | 9.82 | 52.4 | 11.3 | 13.4 | — | 11.1 |
| HONEYWELL AUTOMATION IND | 26,932 | 49.1 | 6.04 | — | 11.8 | 15.5 | — | 18.2 |
| JYOTI CNC AUTOMATION LTD | 21,121 | 65.7 | 10.55 | 37.3 | 16.8 | 19.2 | — | 22.2 |
| KAYNES TECHNOLOGY IND LTD | 20,995 | 60.6 | 4.41 | 29.9 | 7.6 | 9.8 | — | 17.1 |
| LMW LIMITED | 17,483 | 100.1 | 6.10 | 56.6 | 4.6 | 5.9 | 13.2 | 11.9 |
| TEGA INDUSTRIES LIMITED | 13,085 | 459.6 | 3.84 | 39.1 | 4.2 | 5.4 | — | 4.2 |
| LLOYDS ENGG WORK LIMITED | 12,360 | 48.5 | 7.34 | 50.4 | 11.7 | 11.5 | — | 15.0 |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 12.0 | 26.7 | 33 of 130 | 75% |
| P/B | 0.7 | 3.1 | 6 of 112 | 96% |
| ROCE | 0.9 | 11.3 | 124 of 142 | 13% |
| ROE | 3.2 | 9.8 | 92 of 113 | 19% |
| Debt / Equity | 0.1 | 0.2 | 39 of 113 | 66% |
| EBITDA margin | 49.3 | 12.4 | 4 of 110 | 97% |
| Revenue growth | (21.9) | 20.6 | 103 of 114 | 10% |
| Profit growth | (106.7) | 17.1 | 99 of 109 | 9% |
| Market cap | 34 | 273 | 118 of 141 | 16% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 12 Oct 2026 · Quarterly compliance certificate on dematerialisation, Q2 FY27 | compliance | minimal | — | — |
| 26 Sept 2026 · Disposal of unused land at Bhiwandi completed for INR 2.01 Crore | strategic transactions | low | — | — |
| 25 Sept 2026 · Trading Window Closure from 1 October 2026 Ahead of Q2 Results | compliance | minimal | — | — |
| 4 Sept 2026 · All 5 resolutions passed at 87th AGM with 100% approval | board shareholder meetings | low | — | — |
| 4 Sept 2026 · 87th AGM: FY26 turnover Rs 4.41 Cr, loss narrows to Rs 75.65 lakh | investor communications | medium | — | — |
| 4 Sept 2026 · 87th AGM held; office shift to Pune and director re-appointment approved | board shareholder meetings | low | — | — |
| 1 Sept 2026 · Board approves disposal of unused land in Bhiwandi | strategic transactions | medium | — | — |
| 1 Sept 2026 · Board approves sale of unused Bhiwandi land parcel | strategic transactions | medium | — | — |
| 6 Aug 2026 · Newspaper publication of 87th AGM notice for FY ending March 2026 | compliance | minimal | — | — |
| 5 Aug 2026 · G.G. Dandekar Properties submits 87th Annual Report for FY26 | compliance | medium | — | — |
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.