BSE: 530821
SSPDL LTD.
Operates as a property developer with a single business segment classified as Property Development, focused on residential and commercial real estate projects. Headquartered in Hyderabad with a corporate office in Chennai, FY26 revenue was ₹28.27 crore against an EBITDA margin of 57.08%. Revenue recognition is lumpy and tied to property sale transactions — in Q3 FY26, ₹7.21 crore of revenue came from selling a portion of a repossessed property area at the former Alpha City Chennai IT Park project where the buyer had defaulted. The biggest cost line is materials at 49.8% of revenue, followed by employee costs at 7.0% and other operating expenses at 6.2%, with depreciation at 1.1%. The balance sheet is stressed — standalone other equity is negative as accumulated losses have eroded net worth, and total borrowings stood at ₹3,989.23 lakhs as of H1 FY26. It also holds a wholly-owned subsidiary, SSPDL Infratech Pvt. Ltd. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Property Development (100%). Small, lumpy-revenue, leveraged property development
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 24 | 43 | 19 | 3 | 28 |
| EBITDA (ex other income) | 1 | (12) | (8) | (3) | 16 |
| margin % | 6.2 | (27.6) | (40.6) | (99.7) | 55.8 |
| Owners' profit | (5) | (9) | (3) | (2) | 7 |
| EPS, as reported (₹) | (4.01) | (6.68) | (2.19) | (1.50) | 5.80 |
| ROE % · ROCE % | 113.9 · (53.8) | (126.8) · (62.1) | (71.5) · (24.8) | (95.7) · 2.7 | 78.7 · 107.1 |
| Debt / equity (x) | (16.35) | 7.11 | 11.48 | 20.83 | 3.75 |
| Cash from operations | (7) | 24 | 5 | 11 | 14 |
| 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 | 1 | 0 | 1 | 0 | 0 | 14 | 14 | 2 |
| Profit before tax | (1) | (2) | 2 | (2) | (2) | 9 | 7 | (0) |
| Net profit | (1) | (2) | 2 | (2) | (2) | 9 | 2 | (0) |
| EPS (₹) | (0.64) | (1.23) | 1.18 | 1.21 | (1.25) | 6.91 | 1.34 | 0.33 |
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) | 2.0 | 17.4 | 3 of 61 | 97% |
| P/B | 2.0 | 1.1 | 47 of 70 | 33% |
| ROCE | 88.1 | 1.9 | 1 of 88 | 100% |
| ROE | 78.7 | 1.6 | 1 of 73 | 100% |
| Debt / Equity | 3.8 | 0.3 | 68 of 73 | 7% |
| EBITDA margin | 16.5 | 15.3 | 28 of 59 | 53% |
| Profit growth | 72.7 | (48.8) | 16 of 79 | 81% |
| Market cap | 19 | 30 | 59 of 88 | 33% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 16 Oct 2026 · Compliance filing of RTA certificate under SEBI Regulation 74(5) for Q2 FY27 | compliance | minimal | — | — |
| 29 Sept 2026 · SSPDL 32nd AGM: all 3 resolutions passed; related party loan approved with 54.88% | board shareholder meetings | medium | — | — |
| 29 Sept 2026 · SSPDL 32nd AGM: E. Bhaskar Rao re-appointed as Director | management changes | medium | — | — |
| 21 Sept 2026 · Trading window closed for designated persons from October 1, 2026 | compliance | minimal | — | — |
| 8 Sept 2026 · SSPDL sends AGM notice weblinks to shareholders without registered emails | compliance | minimal | — | — |
| 8 Sept 2026 · SSPDL: Notice of 32nd AGM on 29 Sep 2026 via video conferencing | compliance | minimal | — | — |
| 7 Sept 2026 · SSPDL 32nd AGM notice on Sep 29 2026, includes Rs 40 cr related-party loan | board shareholder meetings | low | — | — |
| 7 Sept 2026 · SSPDL 32nd AGM notice and FY26 annual report filed with BSE | board shareholder meetings | medium | — | — |
| 27 Aug 2026 · Notice of 32nd AGM via VC or OAVM on Sept 29, 2026 | compliance | minimal | — | — |
| 14 Aug 2026 · SSPDL Q1 FY27 results published in newspapers; losses narrow YoY | compliance | minimal | — | — |
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.