Holds and monetises real estate assets rather than running a steady operating business. FY26 revenue of Rs 67.83 crore came almost entirely from a one-time sale of the Agra property, which had originally been planned for commercial development but was sold after viability changed. The company holds a 49.90% stake in Platinumcorp Value Shelters Pvt Ltd, which is evaluating a redevelopment project in Khar, Mumbai, expected to commence by end of the current financial year with a five-year completion timeline. It is also an investor in White River Properties LLP, where the project remains at a preliminary stage amid ongoing inter-partner disputes. In Q4 FY26 the company reported nil revenue from operations, with management attributing the gap to the long project cycle typical of real estate. The company has separately placed newspaper advertisements seeking buyers for its property at Meerut. The standalone cost shape is unusually light: materials at 0% of revenue, employees at 0.8%, other operating expenses at 1.8%, and depreciation at 0.3%, with capex at 0%. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Property sale — Agra, Property sale — Meerut, Property development — Khar, Mumbai (via Platinumcorp), Property investment — White River Properties LLP. Asset-heavy, lumpy real estate developer with long project cycles
| ₹ crore · consolidated | FY25 | FY26 |
|---|---|---|
| Revenue | 0 | 68 |
| EBITDA (ex other income) | (2) | 42 |
| margin % | — | 62.4 |
| Owners' profit | (2) | 44 |
| EPS, as reported (₹) | 2.75 | 74.53 |
| ROE % · ROCE % | (27.3) · (9.5) | 80.2 · 80.0 |
| Debt / equity (x) | 2.20 | 0.00 |
| Cash from operations | (6) | 4 |
| Capex | (0) | (0) |
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 |
|---|---|---|---|---|---|---|---|
| Revenue | 0 | 0 | 0 | 0 | 62 | 0 | 0 |
| Profit before tax | (0) | (1) | (0) | (0) | 43 | (0) | 1 |
| Net profit | (0) | (1) | 0 | (0) | 43 | (0) | 1 |
| EPS (₹) | (0.65) | (2.15) | 0.56 | 0.72 | 73.12 | 0.02 | 1.07 |
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| PROZONE REALTY LIMITED | 809 | 70.7 | 1.66 | 14.8 | 3.7 | 2.3 | 34.2 | (32.2) |
| MADALA HOLDINGS LIMITED | 282 | 9.2 | 1.61 | 15.1 | 6.2 | 7.6 | — | 50.1 |
| Justo Realfintech Limited | 190 | 23.4 | — | — | — | 20.4 | — | — |
| RUDRABHISHEK ENTERP LTD | 111 | — | 0.79 | — | (8.1) | (8.5) | 2.5 | 17.1 |
| LANDMARK PR.DEV.CO.LTD | 83 | 9.6 | 2.00 | — | 3.6 |
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 7 Sept 2026 · Newspaper Publication of 32nd AGM Notice | compliance | minimal | — | — |
| 5 Sept 2026 · RAP Corp files 32nd AGM notice and FY26 annual report; AGM on Sep 30 | results | high | — | — |
| 5 Sept 2026 · RAP Corp publishes newspaper notice for 32nd AGM | compliance | minimal | — | — |
| 18 Aug 2026 · RAP Corp Q1 FY27 results published; standalone PAT at Rs 5.85 lakh vs loss | compliance | minimal | — | — |
| 14 Aug 2026 · RAP Corp Q1 FY27 Results: Profit Drops Over 90% YoY | results | high | — | — |
| 14 Aug 2026 · Q1 FY27 results: Standalone PAT swings to profit of 5.51 lakh on other income | results | high | — | — |
| 10 Aug 2026 · Rap Corp board to meet on August 14, 2026 to consider Q1 FY26-27 results | results | low | — | — |
| 18 Jul 2026 · Reg 74(5) Demat Certificate filed for Q1 FY27 | compliance | minimal | — | — |
| 27 Jun 2026 · Trading window closed till June 2026 quarter results are announced | compliance | minimal | — | — |
| 17 Jun 2026 · Seeks buyers for Meerut property, explores disinvestment | compliance | minimal | — | — |
| 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 |
| 4.8 |
| — |
| 654.5 |
| SHRICON INDUSTRIES LTD. | 23 | 13.7 | 4.03 | — | 34.4 | 40.1 | — | 28.1 |
| RAP CORP LIMITED ◆ | 19 | 0.4 | 0.35 | 0.4 | 80.2 | 80.0 | — | — |
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 0.4 | 17.9 | 2 of 147 | 99% |
| P/B | 0.3 | 1.5 | 13 of 139 | 90% |
| ROCE | 80.0 | 4.3 | 2 of 167 | 99% |
| ROE | 80.2 | 4.7 | 2 of 158 | 99% |
| Debt / Equity | 0.0 | 0.2 | 41 of 158 | 75% |
| Profit growth | 91.2 | (3.9) | 31 of 151 | 80% |
| Market cap | 19 | 154 | 130 of 160 | 19% |
| 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.
