Justo Realfintech Limited

Operates as a B2B tech-enabled mandate platform for residential real estate developers, taking soft underwriting of developer inventory and selling it through a channel partner network using its own tech stack (Justo Verse, Justo Works, Justo Pulse). The core focus is mid-segment residential in the Rs 50 lakh to Rs 3.5 crore band, where it charges developers a net take rate of 2.7-2.8% of project value (down from a 5.5-6% direct commission). Cumulative project sales reached about Rs 9,687 crore across 12,800+ units by December 2025, with active mandates of Rs 7,243 crore across 48 projects as of January 2026. The company has set up Chestertons India Private Limited as a wholly-owned subsidiary in March 2026 under a brand usage deal with the UK-based Chestertons Global Network to operate a premium real estate vertical covering high-end residential, commercial leasing, capital markets, JV/JDA advisory and hospitality. FY26 revenue was Rs 91.78 crore with EBITDA margin around 25-31% and PAT near Rs 20 crore. The biggest cost is people - employee costs were 41.4% of revenue in FY26, with other operating expenses at 28.6%. The business runs on an asset-light model but carries working capital drag - receivable days run at 180+ with negative operating cash flow. Planned geographic expansion from Mumbai/Pune into Bangalore (Q1 FY27), Ahmedabad (Q2 FY27) and Hyderabad (Q4 FY27).