BSE: 531578
KMF BUILDERS & DEVELOPERS LTD.
Classified under the Realty sector as a builder of residential and commercial projects, the company is currently not executing any real estate work. For FY26, revenue from operations was Rs 0, down from Rs 279.50 lakhs in FY25, and the statutory auditor flagged an Emphasis of Matter stating that management has no ongoing projects and the firm is incurring losses with no operational revenue. The only income it booked in FY26 was Rs 50.17 lakhs of "other income" (largely interest), against total expenses that drove a net loss of Rs 48.96 lakhs, marginally better than the Rs 51.11 lakhs loss in FY25. The balance sheet held Rs 12.0075 crore of total assets, but operating cash flow was deeply negative at Rs -239.06 lakhs and cash and equivalents fell from Rs 394.21 lakhs to Rs 181.62 lakhs during the year. The auditor also flagged related party loans, including a balance of Rs 6.58 crore owed by RGGC Builders Pvt Ltd. No dividend was recommended for FY26. AR · MarketPing reader · 2026-08-03
Revenue streams, as the annual report describes them. Revenue from operations (realty projects) (0%), Other income (interest). Non-operating realty shell with no current projects, funded mainly by interest income on cash and related-party loans.
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · standalone | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 3 | 2 | 20 | 3 | 0 |
| EBITDA (ex other income) | 0 | 0 | 0 | (1) | (1) |
| margin % | 11.2 | 12.5 | 1.6 | (37.9) | — |
| Owners' profit | 0 | 0 | 0 | (1) | (0) |
| EPS, as reported (₹) | 0.06 | 0.26 | 0.25 | (0.42) | (0.40) |
| ROE % · ROCE % | 2.7 · 3.8 | 2.5 · 4.0 | 3.8 · 5.2 | (4.2) · (3.9) | (4.2) · (3.6) |
| Debt / equity (x) | 0.04 | 0.03 | 0.05 | 0.02 | 0.01 |
| Cash from operations | 5 | (2) | 1 | (1) | (2) |
| Capex | 0 | 0 | — | 0 | 0 |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 0 | 0 | 0 | 3 | 0 | 0 | 0 | 0 |
| Profit before tax | (0) | (0) | (1) | 0 | (0) | (0) | (0) | (0) |
| Net profit | (0) | (0) | (1) | 0 | (0) | (0) | (0) | (0) |
| EPS (₹) | (0.33) | (0.16) | (1.09) | 0.24 | (0.26) | (0.03) | (0.07) | (0.04) |
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 | 0.6 | 1.1 | 22 of 70 | 67% |
| ROCE | (4.2) | 1.9 | 75 of 88 | 15% |
| ROE | (4.2) | 1.6 | 59 of 73 | 19% |
| Debt / Equity | 0.0 | 0.3 | 23 of 73 | 69% |
| Revenue growth | (100.0) | (11.0) | 55 of 64 | 3% |
| Profit growth | (118.2) | (48.8) | 64 of 79 | 19% |
| Market cap | 7 | 30 | 76 of 88 | 14% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 15 Oct 2026 · Quarterly compliance certificate for share demat processing submitted | compliance | minimal | — | — |
| 28 Sept 2026 · Trading window closed ahead of Q2 results | compliance | minimal | — | — |
| 2 Sept 2026 · KMF Builders files FY26 Annual Report; second straight year of losses | results | high | — | — |
| 2 Sept 2026 · Notice of 31st Annual General Meeting published in newspapers | compliance | minimal | — | — |
| 2 Sept 2026 · 31st AGM on Sep 24, 2026; book closure Sep 16-20, 2026 | board shareholder meetings | low | — | — |
| 2 Sept 2026 · 31st AGM on Sept 24, 2026; related party transaction approval sought | board shareholder meetings | low | — | — |
| 29 Aug 2026 · Board fixes AGM date, approves FY26 annual report and related documents | board shareholder meetings | low | — | — |
| 24 Aug 2026 · Board meeting on Aug 29 to approve AGM notice and FY26 annual report | board shareholder meetings | low | — | — |
| 17 Aug 2026 · Newspaper publication of Q1 FY27 unaudited financial results | compliance | minimal | — | — |
| 9 Aug 2026 · Board meeting on 14 Aug 2026 to consider Q1 FY26 results | results | low | — | — |
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.