Models
HAZOOR MULTI PROJECTS LTDHAZOORRealty
₹9per share · Base Model Note
Revenue growth, the horizon and scenarios are yours to change. Every other input is part of the Trader plan; saving, sharing a saved link and the live-formula workbook are part of the Institutional plan.
Scenario
Value per share, your model₹9implied FY26 P/E 3.6× · EV/EBITDA 2.8×
Against CMP ₹19.30−52.0%close of 2026-09-10
Growth the CMP implies5.9%revenue, a year for 5 years, on your other inputs
Value after FY3132%share of enterprise value in the terminal
This figure is the arithmetic of your inputs and nothing else. MarketPing publishes no fair value, target or rating; the model is yours.
Where the methods land · ₹ per share · the dashed line is the CMP
DCF, rate ±1 · growth ±1your model across the sensitivity grid
₹7₹14
From enterprise to equity · ₹ crore
| PV of FY27–FY31 free cash flow | 492 |
| PV of terminal value | 229 |
| Enterprise value | 721 |
| less net debt | (454) |
| less non-controlling interest | 0 |
| add non-operating investments | 0 |
| Equity value | 267 |
| ÷ 28.82 crore shares | ₹9 |
Free cash flow, filed and modelled · ₹ '000 crore
Filed, cash from operations − capexModelled free cash flow to firm
Sensitivity · ₹ per share
Down Across| WACC ↓terminal growth → | 4.0% | 4.5% | 5.0% | 5.5% | 6.0% |
|---|---|---|---|---|---|
| 10.00% | 10 | 11 | 12 | 13 | 14 |
| 10.50% | 9 | 10 | 10 | 11 | 12 |
| 11.00% | 8 | 9 | 9 | 10 | 11 |
| 11.50% | 7 | 8 | 8 | 9 | 10 |
| 12.00% | 7 | 7 | 8 | 8 | 9 |
The outlined cell is your model. Green figures sit above the CMP of ₹19.30; n/a marks a terminal growth at or above the discount rate. Steps: WACC and terminal growth ±0.5 point, growth ±2, margin ±1.
Distribution of outcomes · 4,000 draws · growth, margin and the discount rate vary together
| 10th · 50th · 90th percentile, ₹ per share | 2 · 9 · 17 |
| Draws below the CMP | 96% |
| Rank correlation with ebitda margin | +0.98 |
| Rank correlation with discount rate | −0.18 |
| Rank correlation with revenue growth | −0.02 |
Each driver is drawn from a PERT distribution between the lowest and highest value across your scenarios (or ±50% growth, ±20% margin when there is one scenario), with the discount rate ±1.5 points. Seeded, so the same inputs give the same picture.
Projected cash flow to the firm · ₹ crore
History Forward| ₹ crore | FY24 | FY25 | FY26 | FY27 | FY28 | FY29 | FY30 | FY31 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 545 | 638 | 580 | 551 | 523 | 497 | 472 | 448 |
| growth % | — | 17.1 | (9.1) | (5.0) | (5.0) | (5.0) | (5.0) | (5.0) |
| EBITDA | 84 | 88 | 259 | 246 | 234 | 222 | 211 | 200 |
| margin % | 15.3 | 13.9 | 44.7 | 44.7 | 44.7 | 44.7 | 44.7 | 44.7 |
| less depreciation | (0) | (24) | (171) | (163) | (155) | (147) | (140) | (133) |
| EBIT | 83 | 65 | 88 | 83 | 79 | 75 | 71 | 68 |
| less tax on EBIT | (25) | (24) | (22) | (21) | (20) | (19) | ||
| NOPAT | 63 | 60 | 57 | 54 | 51 | 49 | ||
| add depreciation | 0 | 24 | 171 | 163 | 155 | 147 | 140 | 133 |
| less capex | 0 | (9) | (3) | (3) | (48) | (89) | (126) | (159) |
| less working-capital build | — | 0 | 0 | 0 | 0 | 0 | ||
| Free cash flow to firm | (123) | (154) | — | 220 | 163 | 111 | 64 | 22 |
| Discount factor | 0.949 | 0.855 | 0.770 | 0.694 | 0.625 | |||
| Present value | 209 | 139 | 86 | 45 | 14 |
History columns are the filed years (free cash flow there is cash from operations − capex, as filed); the base year and everything to its right come from the engine. Forward is the explicit horizon of the model itself: 3, 5 or 10 years, then flat.
The three statements, projected · ₹ crore · debt held at 455, dividends at 0% of profit
| ₹ crore | FY26 | FY27 | FY28 | FY29 | FY30 | FY31 |
|---|---|---|---|---|---|---|
| Income statement | ||||||
| EBIT | 88 | 83 | 79 | 75 | 71 | 68 |
| Interest at 13.7% on debt | (62) | (62) | (62) | (62) | (62) | |
| Profit before tax | 21 | 17 | 13 | 9 | 5 | |
| Profit after tax | 0 | 15 | 12 | 9 | 6 | 4 |
| Dividends | (4) | 0 | 0 | 0 | 0 | 0 |
| Balance sheet, year end | ||||||
| Cash | 1 | 177 | 295 | 362 | 381 | 359 |
| Working capital | (99) | (99) | (99) | (99) | (99) | (99) |
| Net block and other assets | 1,784 | 1,623 | 1,517 | 1,459 | 1,446 | 1,473 |
| Debt | 455 | 455 | 455 | 455 | 455 | 455 |
| Equity | 624 | 639 | 651 | 660 | 666 | 670 |
| Balance check | 0 | 0 | (0) | (0) | (0) | (0) |
| Cash flow | ||||||
| From operations | 178 | 167 | 156 | 146 | 137 | |
| Investing (capex) | (3) | (48) | (89) | (126) | (159) | |
| Financing (dividends) | 0 | 0 | 0 | 0 | 0 | |
| Net change in cash | 175 | 118 | 67 | 20 | (23) | |
| Free cash flow to equity | 175 | 118 | 67 | 20 | (23) | |
Other liabilities are held at their FY26 level, so the check tests only what the model moves: cash, working capital, net block and other assets, debt and equity. A non-zero check would mean the three statements no longer tie.
Scenarios side by side · ₹ per share
| Scenario | Template | Growth | Margin | Rate | Terminal | ₹ / share | vs CMP |
|---|---|---|---|---|---|---|---|
| Base · editing | DCF | -5% | 44.7% | 11.00% | 5% | ₹9 | (52.0)% |
A scenario is a full set of inputs under a name. Keep Base as the filed history carried forward; add Bull and Bear by saving the current inputs under those names and moving the two or three assumptions you actually hold a view on. The distribution above draws each driver between the lowest and highest value across your scenarios, so three scenarios give it a real range; with one scenario it falls back to fixed bands.