Redevelops aging housing societies in Mumbai's western suburbs (Borivali, Kandivali, Malad, Goregaon) into new residential and commercial projects, and sells the resulting units. FY26 revenue of Rs 189.31 crore came from handing over two projects — Rashmi Vasudev (90 units, Borivali West) and Rashmi Celestia (81 units plus 10,500 sq ft of commercial space, Borivali) — with average selling prices (ASPs) in the Rs 25,000-27,000 per sq ft range. The company operates six ongoing projects including newly launched Rashmi Icon and Rashmi Avenue, with a future pipeline targeting higher-priced South Mumbai (Khar) projects at Rs 45,000-50,000 per sq ft. Construction materials and raw inputs dominate the cost base at 100.4% of revenue, while employee costs sit at 2.0% and other operating expenses at 1.8%. The company runs an asset-light, debt-free model, with borrowings of about Rs 6 crore against capital employed of Rs 80-90 crore. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Residential unit sales, Commercial space sales. Asset-light, debt-free residential and commercial redevelopment developer in Mumbai.
| ₹ crore · consolidated | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Revenue | 42 | 57 | 87 | 189 |
| EBITDA (ex other income) | — | — | — | 35 |
| margin % | — | — | — | 18.5 |
| Owners' profit | — | — | — | 29 |
| EPS, as reported (₹) | 3.47 | 3.92 | 6.25 | 14.89 |
| ROE % · ROCE % | — · 20.0 | — · 9.9 | — · 15.4 | 18.6 · 23.6 |
| Debt / equity (x) | — | — | — | 0.04 |
| Cash from operations | (7) | (25) | (22) | (4) |
| Capex | — | — | (0) | (0) |
| ₹ crore | Q2 FY23 | Q4 FY23 | Q2 FY24 | Q4 FY24 | Q2 FY25 | Q4 FY25 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 19 | 23 | 24 | 33 | 37 | 50 | 51 | 58 |
| Profit before tax | 4 | 4 | 4 | 5 | 6 | 10 | 6 | 12 |
| Net profit | — | — | — | — | — | — | 4 | 9 |
| EPS (₹) | 6.84 | 1.72 | 1.67 | 2.26 | 2.38 | 3.94 | 2.25 | 4.36 |
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| DLF LIMITED | 1,59,533 | 35.9 | 3.51 | 48.1 | 9.7 | 6.0 | 8.6 | 37.1 |
| LODHA DEVELOPERS LIMITED | 1,11,589 | 27.0 | 4.76 | 22.1 | 14.6 | 15.7 | 25.1 | 40.5 |
| THE PHOENIX MILLS LTD | 67,594 | 52.8 | 4.73 | 26.2 | 10.9 | 9.9 | 32.7 | 63.4 |
| PRESTIGE ESTATE LTD | 64,519 | 56.6 | 3.85 | 18.5 | 7.8 | 6.8 | 11.8 | 38.1 |
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 13 Aug 2026 · Q1 FY27 earnings call: revenue up 28%, margins dip on war cost pressures | investor communications | medium | — | — |
| 10 Aug 2026 · Link for audio recording of Q1 FY27 earnings call | investor communications | low | — | — |
| 10 Aug 2026 · Modis Navnirman Q1 FY27 results: revenue up around 29 percent YoY, profit up 27 percent | compliance | minimal | — | — |
| 7 Aug 2026 · Modis Navnirman Q1FY27: Revenue up 27.9% to Rs 58.26 Cr, PAT rises 25.8% | investor communications | medium | — | — |
| 7 Aug 2026 · Modis Navnirman Q1 FY27: Revenue up 27.9%, PAT up 25.8% YoY | results | high | — | — |
| 7 Aug 2026 · Modis Navnirman Q1 FY27 PAT up 27% YoY at Rs 8.6 cr, revenue up 28% | results | high | — | — |
| 6 Aug 2026 · Earnings call scheduled for Q1 FY27 on Aug 10, 2026 at 1:30 PM | board shareholder meetings | low | — | — |
| 5 Aug 2026 · Modis Navnirman schedules Q1 FY26-27 earnings call on Aug 10 | board shareholder meetings | low | — | — |
| 5 Aug 2026 · 5th AGM held; CFO flags record FY26 growth and debt-free status | board shareholder meetings | medium | — | — |
| 4 Aug 2026 · Board meeting on Aug 7 to consider Q1 FY27 results | results | low | — | — |
| 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 |
| OBEROI REALTY LIMITED |
| 63,306 |
| 20.8 |
| 3.53 |
| 18.2 |
| 14.0 |
| 15.5 |
| 24.0 |
| 61.1 |
| GODREJ PROPERTIES LTD | 52,653 | 32.9 | 2.72 | 23.7 | 9.5 | 11.4 | 46.3 | 107.7 |
| ANANT RAJ LIMITED | 21,490 | 36.2 | 3.69 | 29.3 | 9.6 | 10.2 | 58.7 | 32.1 |
| BRIGADE ENTER. LTD | 20,941 | 24.4 | 2.78 | 15.7 | 9.6 | 6.8 | 23.9 | 41.9 |
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 28.2 | 21.8 | 37 of 57 | 36% |
| P/B | 4.6 | 2.1 | 59 of 64 | 8% |
| ROCE | 22.6 | 6.8 | 5 of 67 | 94% |
| ROE | 18.6 | 8.2 | 9 of 67 | 88% |
| Debt / Equity | 0.0 | 0.4 | 15 of 67 | 79% |
| EBITDA margin | 20.0 | 29.6 | 41 of 66 | 39% |
| Revenue growth | 79.1 | 12.8 | 14 of 67 | 80% |
| Market cap | 715 | 2250 | 43 of 67 | 36% |
| 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 |
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.
