BSE: 531416
NARENDRA PROPERTIES LTD.
Sells residential and commercial property in Chennai. Revenue is lumpy and tied to individual unit sales rather than steady monthly billing — in Q2 FY26, revenue from operations was nil, while Q3 FY26 jumped to ₹362.64 lakh on the sale of one flat at its NPL Grand Melody project on Woods Road, Royapettah, Chennai. Full-year FY26 revenue from operations came to ₹637.84 lakh, but total income was ₹988.68 lakh because other income (mainly interest, ₹345.48 lakh) added roughly ₹345.48 lakh. The board also commenced a new commercial project in Chennai and lets out property to a related party, Ankur Foundations Private Limited, at ₹50,000 per month on a lease of up to three years. The cost base is construction-led: materials at 32.4% of revenue, employee cost 9.8% and other operating expenses 14.2%, with EBITDA margin at 42.69% on FY26 revenue. The balance sheet is nearly debt-free, with cash and equivalents of ₹486.91 lakh and loans given of ₹1,710 lakh. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Sale of residential and commercial property, Rental / lease income, Other income (mainly interest). Small, project-based, lumpy-revenue Chennai real estate developer.
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · standalone | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 0 | 0 | 19 | 7 | 6 |
| EBITDA (ex other income) | (2) | (2) | 2 | (0) | (1) |
| margin % | — | — | 11.6 | (5.3) | (12.3) |
| Owners' profit | (2) | 4 | 2 | 1 | 2 |
| EPS, as reported (₹) | (3.45) | 6.05 | 3.16 | 1.30 | 2.78 |
| ROE % · ROCE % | (7.8) · (5.4) | 12.0 · 15.7 | 6.0 · 8.0 | 2.5 · 3.3 | 5.1 · 6.8 |
| Debt / equity (x) | 0.15 | 0.00 | 0.00 | 0.00 | 0.00 |
| Cash from operations | (1) | 3 | (0) | (4) | 4 |
| 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 | 4 | 0 | 4 | 3 | 0 | 4 | 0 | 0 |
| Profit before tax | 1 | 0 | 1 | 1 | 0 | 1 | 1 | 1 |
| Net profit | 1 | 0 | 0 | 1 | 0 | 1 | 0 | 1 |
| EPS (₹) | 0.80 | 0.11 | 0.49 | 1.00 | 0.57 | 1.12 | 0.01 | 1.25 |
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/E (TTM) | 11.9 | 17.4 | 18 of 61 | 72% |
| P/B | 0.6 | 1.1 | 22 of 70 | 67% |
| ROCE | 6.8 | 1.9 | 20 of 88 | 78% |
| ROE | 5.1 | 1.6 | 23 of 73 | 69% |
| Debt / Equity | 0.0 | 0.3 | 1 of 73 | 76% |
| Revenue growth | (100.0) | (11.0) | 55 of 64 | 3% |
| Profit growth | 14.9 | (48.8) | 28 of 79 | 65% |
| Market cap | 25 | 30 | 50 of 88 | 44% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 28 Oct 2026 · Board to approve September 2026 quarterly results on 5 November | results | low | — | — |
| 13 Oct 2026 · 31st AGM minutes filed: dividend declared, all 6 resolutions approved | board shareholder meetings | low | — | — |
| 13 Oct 2026 · RTA compliance certificate for September 2026 quarter | compliance | minimal | — | — |
| 30 Sept 2026 · AGM approves director re-appointment and related party remuneration | management changes | medium | — | — |
| 30 Sept 2026 · Narendra Properties 31st AGM: All 6 resolutions passed with requisite majority | board shareholder meetings | low | — | — |
| 29 Sept 2026 · 31st AGM: PAT more than doubles to Rs 197.32 lakhs; Rs 1 dividend declared | investor communications | medium | — | — |
| 3 Sept 2026 · Narendra Properties files 31st Annual Report, sets 29 Sep 2026 AGM | results | medium | — | — |
| 2 Sept 2026 · Narendra Properties 31st AGM on 29 Sep 2026, Rs 1 per share dividend | compliance | minimal | — | — |
| 12 Aug 2026 · Narendra Properties 31st AGM on Sep 29, 2026; record date Sep 18 for dividend | board shareholder meetings | low | — | — |
| 11 Aug 2026 · Board approves promoter consultancy fees, ID re-appointment, Rs 50 Cr investment limit | management changes | 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.