NSE: TREL · BSE: 543955
TRANSINDIA REAL ESTATE L
Operates logistics parks — warehouses and industrial facilities leased to logistics, e-commerce, manufacturing and retail tenants. In FY26, the Logistics Park segment made up 98.2% of segment revenue at INR82.23 cr (segment EBIT INR27.93 cr), with the remaining 1.8% (INR1.52 cr) from equipment hiring. Two operating warehouses, Koproli and Khopta, are both 100% leased. The company is in a build-out phase: it has a land bank of roughly 200 acres supporting 1.8-2 million sq ft of developable area, with an INR1,000 cr capex programme starting Q3 FY26 across 4-5 projects, construction funded 70-80% by debt. The lead project is a 98-acre consolidation at Mubarikpur, Haryana, targeting completion around Q4 FY27, with INR70-80 cr of incremental rent potential at stabilisation. In July 2026 it acquired 48.28% (with 100% voting rights) in Comptech Solutions for about INR24 cr, adding a 20,043 sq ft leasable commercial property in Gurugram. The cost structure is dominated by depreciation (20.9% of revenue) and employee costs (19.1%), consistent with an asset-heavy model. Capex ran at 89.9% of revenue in FY26. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Logistic Park (98%), Equipment Hiring (2%). Asset-heavy, capex-intensive logistics warehousing and industrial park developer in build-out phase.
Exhibit 1: Financial summary, FY24–FY26 (all audited; no estimate years)
| ₹ crore · consolidated | FY24 | FY25 | FY26 |
|---|---|---|---|
| Revenue | 97 | 83 | 84 |
| EBITDA (ex other income) | 336 | 68 | 46 |
| margin % | 346.7 | 82.9 | 55.0 |
| Owners' profit | 250 | 53 | 37 |
| EPS, as reported (₹) | 10.20 | 2.14 | 1.50 |
| ROE % · ROCE % | 20.6 · 26.4 | 4.2 · 6.0 | 2.9 · 3.6 |
| Debt / equity (x) | 0.05 | 0.00 | 0.00 |
| Cash from operations | 75 | 85 | 43 |
| Capex | (0) | (181) | (75) |
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 | 20 | 23 | 21 | 21 | 20 | 21 | 22 | 22 |
| Profit before tax | 13 | 13 | 39 | 13 | 12 | 13 | 11 | 13 |
| Net profit | 7 | 9 | 33 | 7 | 9 | 11 | 10 | 11 |
| EPS (₹) | 0.27 | 0.36 | 1.32 | 0.31 | 0.36 | 0.44 | 0.40 | 0.47 |
Exhibit 3: Segment revenue, FY26
| Segment | Revenue, ₹ crore | Share % |
|---|---|---|
| Logistic Park | 21 | 25.5 |
| Equipment Hiring | 0 | 0.3 |
| Logistics Park and commercial properties | 41 | 48.5 |
| Equipment Hiring (Non crane) | 1 | 0.7 |
| Continuing Logistics Park and commercial properties | 20 | 24.1 |
| Continuing Equipment Hiring (Non crane) | 1 | 0.9 |
| Total, before eliminations | 84 | 100.0 |
Exhibit 4: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| CONTAINER CORP OF IND LTD | 37,239 | 29.9 | 2.85 | 15.8 | 9.5 | 11.6 | 7.2 | 24.5 |
| DELHIVERY LIMITED | 32,575 | 348.0 | 3.36 | 33.2 | 1.6 | 1.2 | — | 8.7 |
| SHADOWFAX TECHNOLOGIES L | 15,970 | 99.3 | 9.15 | 63.3 | 6.4 | 5.7 | — | 8.3 |
| BLUE DART EXPRESS LTD | 11,386 | 39.7 | 6.41 | 12.0 | 13.9 | 13.4 | 13.3 | 16.7 |
| TRANSPORT CORPN OF INDIA | 6,199 | 13.5 | 2.38 | 11.2 | 17.7 | 14.4 | 11.9 | 11.3 |
| TVS SUPPLY CHAIN SOL L | 5,866 | 91.0 | 2.84 | 7.1 | 5.7 | 4.8 | — | 7.2 |
| VRL LOGISTICS LIMITED | 5,108 | 19.1 | 4.47 | — | 20.7 | 14.5 | — | 21.9 |
| MAHINDRA LOGISTIC LIMITED | 3,951 | 106.8 | 3.29 | 10.1 | 0.9 | 2.0 | 16.5 | 6.3 |
Exhibit 5: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 16.1 | 15.6 | 29 of 54 | 47% |
| P/B | 0.5 | 1.6 | 3 of 40 | 95% |
| ROCE | 3.5 | 6.8 | 38 of 56 | 33% |
| ROE | 2.9 | 5.7 | 28 of 42 | 34% |
| Debt / Equity | 0.0 | 0.2 | 3 of 42 | 93% |
| EBITDA margin | 82.7 | 8.7 | 1 of 43 | 100% |
| Revenue growth | 4.3 | 9.5 | 27 of 42 | 37% |
| Profit growth | 54.1 | 22.5 | 12 of 35 | 68% |
| Market cap | 658 | 123 | 18 of 56 | 69% |
Exhibit 6: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 21 Sept 2026 · Transindia Real Estate 5th AGM proceedings filed; 2 resolutions considered | board shareholder meetings | medium | — | — |
| 28 Aug 2026 · Notice of 5th AGM published in newspapers; e-voting details announced | compliance | minimal | — | — |
| 27 Aug 2026 · Transindia Real Estate files FY25-26 Annual Report and 5th AGM notice | board shareholder meetings | low | — | — |
| 27 Aug 2026 · Annual Report FY2025-26 and 5th AGM Notice filed with exchanges | board shareholder meetings | low | — | — |
| 25 Aug 2026 · AGM Notice Published in Newspapers; 5th AGM on Sep 21, 2026 | compliance | minimal | — | — |
| 8 Aug 2026 · Transindia Q1 FY27 profit jumps 47% YoY on standalone basis | compliance | minimal | — | — |
| 7 Aug 2026 · Update on Vantrock framework deal - no definitive agreement yet | strategic transactions | medium | — | — |
| 7 Aug 2026 · Transindia Real Estate Q1 FY27 results: PAT up 47% YoY to Rs 10.92 cr | results | high | — | — |
| 3 Aug 2026 · Board meeting on Aug 7 to approve Q1 FY27 results | results | low | — | — |
| 29 Jul 2026 · NCLT directs shareholder notice for WOS amalgamation into Transindia Real Estate | strategic transactions | 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.