NSE: MPDL · BSE: 532723
MPDL LTD.
Develops residential and commercial real estate projects in India, with its principal asset being the M-1 Tower in Faridabad, for which it received the Occupation Certificate during FY26. Revenue from operations in FY26 was Rs 20.32 crore, up from Rs 580.41 lakh in FY25, almost entirely driven by M-1 Tower construction activity accounted using the percentage of completion method. The company also holds an interest in associate Cambridge Construction (Delhi) Pvt Ltd, which contributed Rs 143.38 lakh of losses to consolidated results in 9M FY26. Despite the sharp revenue jump, the company posted a consolidated net loss of Rs 797.54 lakh in FY26, with other operating expenses running at 104.4 percent of revenue. The board has approved amending the Memorandum of Association to add facility maintenance, repair and management services for buildings and infrastructure as a permitted activity. Promoters hold 55,57,730 of the 74,12,524 outstanding equity shares, and current borrowings stood at Rs 6,127.95 lakh as of FY26. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Real estate construction, Share of associate. Small, loss-making single-project real estate developer
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 8 | 14 | 7 | 6 | 20 |
| EBITDA (ex other income) | (8) | (2) | (7) | (5) | (10) |
| margin % | (112.3) | (11.3) | (96.3) | (89.1) | (51.0) |
| Owners' profit | (3) | (4) | 19 | (4) | (8) |
| EPS, as reported (₹) | (3.39) | (5.18) | 25.01 | (5.62) | (10.76) |
| ROE % · ROCE % | (2.8) · (2.6) | (3.3) · (1.2) | 18.2 · 19.7 | (4.2) · (4.3) | (8.8) · (10.2) |
| Debt / equity (x) | 0.80 | 0.55 | 0.41 | 0.53 | 0.68 |
| Cash from operations | (7) | (26) | (28) | (10) | (9) |
| Capex | (0) | (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 | 2 | 3 | 1 | 4 | 8 | 2 | 5 |
| Profit before tax | (1) | (1) | (0) | (3) | (2) | (3) | (1) | (4) |
| Net profit | (1) | (1) | (0) | (2) | (2) | (2) | (1) | (3) |
| EPS (₹) | 0.74 | (1.34) | (0.61) | (2.93) | (2.04) | 2.93 | (1.28) | (4.51) |
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 | 0.2 | 1.1 | 2 of 70 | 99% |
| ROCE | (11.2) | 1.9 | 81 of 88 | 8% |
| ROE | (8.8) | 1.6 | 65 of 73 | 11% |
| Debt / Equity | 0.7 | 0.3 | 52 of 73 | 29% |
| EBITDA margin | (78.5) | 15.3 | 52 of 59 | 12% |
| Revenue growth | 473.8 | (11.0) | 5 of 64 | 94% |
| Profit growth | (53.9) | (48.8) | 42 of 79 | 47% |
| Market cap | 17 | 30 | 61 of 88 | 31% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 6 Oct 2026 · Reg 74(5) compliance certificate for Q2 FY27 | compliance | minimal | — | — |
| 1 Oct 2026 · MPDL 24th AGM: All 3 Resolutions Passed | board shareholder meetings | medium | — | — |
| 29 Sept 2026 · MPDL 24th AGM held Sep 29, 2026; resolutions on financials and director appointments | board shareholder meetings | low | — | — |
| 25 Sept 2026 · Trading Window Closed from Oct 1 Until Q2 Results Announcement | compliance | minimal | — | — |
| 5 Sept 2026 · MPDL announces 24th AGM on September 29, 2026 via video conferencing | compliance | minimal | — | — |
| 3 Sept 2026 · Annual Report and 24th AGM Notice - Web Link to Shareholders | compliance | minimal | — | — |
| 3 Sept 2026 · MPDL 24th AGM Notice and FY26 Annual Report filed | board shareholder meetings | medium | — | — |
| 3 Sept 2026 · MPDL 24th AGM on Sep 29, 2026 via VC; appointment of Whole-time Director | board shareholder meetings | low | — | — |
| 27 Aug 2026 · MPDL Limited Notice of 24th AGM Email ID Registration via Newspaper | compliance | minimal | — | — |
| 13 Aug 2026 · Whole Time Director Mr. Santosh Kumar Jha resigns from MPDL | management changes | 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.