Pranav Constructions
Listing performance
Scheduled dates
Tentative timetable — a past date is not confirmation the step completed
Subscription
- Qualified institutionalQIB
- 268.54×
- Big non-institutionalbNII · above ₹10 lakh
- 242.06×
- Small non-institutionalsNII · ₹2–10 lakh
- 169.07×
- Retail individualRII · up to ₹2 lakh
- 45.31×
Bids received
The demand behind each multiple — what was offered, what was bid for, and what those bids are worth
| Category | Shares offered | Shares bid for | Bids (₹ Cr) | Times |
|---|---|---|---|---|
| Qualified institutional | 45,29,358 | 1,21,63,22,400 | ₹15,082 Cr | 268.54× |
| Non-institutional | 42,46,272 | 92,45,49,840 | ₹11,464 Cr | 217.73× |
| Big non-institutionalwithin NII | 28,30,848 | 68,52,46,320 | ₹8,497 Cr | 242.06× |
| Small non-institutionalwithin NII | 14,15,424 | 23,93,03,520 | ₹2,967 Cr | 169.07× |
| Retail individual | 1,27,38,816 | 57,71,71,560 | ₹7,157 Cr | 45.31× |
| Total | 2,15,14,446 | 2,71,80,43,800 | ₹33,704 Cr | 126.34× |
Times subscribed is the figure published for each category, not shares bid for divided by shares offered — a category's multiple is struck against its own allottable base, which is not always the offered count shown beside it. Observed 09 Sept, 05:09 pm IST; the registrar publishes the final basis of allotment.
Issue details
- IPO date
- 07 Sep 2026 – 09 Sep 2026
- Listing date
- 15 Sep 2026
- Face value
- ₹10 per share
- Price band
- ₹118 – ₹124
- Issue price
- ₹124 per share
- Lot size
- 120 shares
- Sale type
- Fresh capital cum OFS
- Issue type
- Book Building issue
- Listing at
- NSE
- Total issue size
- ₹367 Cr
- Fresh issue
- ₹316 Cr 2,54,51,612 shares
- Offer for sale
- ₹35.43 Cr 28,56,869 shares
- Market cap at offer price
- ₹1,397 Cr
- Promoter holding
- 63.35% → 49.03% pre-issue → post-issue
- ISIN
- INE0H4201019
- CIN
- U70101MH2003PLC141547
- Registrar
- Kfin Technologies Ltd.
- Lead managers
- Centrum Capital Ltd.
- Registered office
- Unit No. 1001, 10th Floor, DLH Park, Near MTNL, S.V. Road, Goregaon (West), Mumbai – 400 104, Maharashtra
Reservation and application size
How the issue is split between investor categories, and what each may bid
| Investor category | Shares | % of net | % of total |
|---|---|---|---|
| QIB | 47,01,558 | 20.93% | 20.93% |
| Anchor investor · within QIB | 67,94,034 | — | 30.25% |
| NII (HNI) | 44,40,395 | 19.77% | 19.77% |
| bNII > ₹10L · within NII | 29,60,264 | — | 13.18% |
| sNII < ₹10L · within NII | 14,80,131 | — | 6.59% |
| Retail (RII) | 1,33,21,184 | 59.30% | 59.30% |
| Employee | 0 | — | 0.00% |
| Market maker | 0 | — | 0.00% |
| Total issue | 2,24,63,137 | — | 100.00% |
Net offer to the public of 2,24,63,137 shares, out of a total issue of 2,24,63,137. Indented rows sit inside the category above them and are not added to it.
Application size
Minimum 120 shares per lot, in multiples, at ₹124
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 120 | ₹14,880 |
| Retail (max) | 13 | 1,560 | ₹1,93,440 |
| S-HNI (min) | 14 | 1,680 | ₹2,08,320 |
| S-HNI (max) | 67 | 8,040 | ₹9,96,960 |
| B-HNI (min) | 68 | 8,160 | ₹10,11,840 |
Category limits
| Category | Bid size | Cut-off |
|---|---|---|
| Retail (RII) | Up to ₹2 lakh | Yes |
| Small HNI (sNII) | ₹2 lakh – ₹10 lakh | No |
| Big HNI (bNII) | Above ₹10 lakh | No |
| Employee | Up to ₹5 lakh | Yes |
Bidding at cut-off means accepting the final issue price without naming one. Only retail and employee applicants may do so.
Anchor investors
Institutional allocation placed a day before the issue opens, carved out of the QIB portion and locked in after listing.
Valuation and performance
Valuation at offer price
₹124 per share
| Metric | Pre-issue | Post-issue |
|---|---|---|
| EPS (₹) | 8.18 | 6.33 |
| P/E (×) | 15.16 | 19.59 |
| Market cap | — | ₹1,397 Cr |
Key performance indicators
Latest reported period, consolidated
- Return on net worth
- 47.17%
- ROCE
- 24.83%
- Debt / equity
- 1.15
- PAT margin
- 9.78%
- EBITDA margin
- 15.49%
Single period as reported. Year-on-year movement is in the financials table below, where every period is published.
Company financials
Consolidated ·₹ crore unless a row shows % or ×, as reported in the offer document
| Period ended | FY26 | FY25 | FY24 |
|---|---|---|---|
| Profit and loss | |||
| Total income | 763.93 | 638.24 | 449.75 |
| Revenue from operations | 761.6 | 636.27 | 447.48 |
| Other income | 2.33 | 1.97 | 2.27 |
| Total expenses | 669.99 | 566.16 | 410.65 |
| Operating profit | 93.94 | 72.08 | 39.1 |
| Operating margin | 12.30% | 11.29% | 8.69% |
| Profit before tax | 93.94 | 72.09 | 39.1 |
| Profit after tax | 71.32 | 62.25 | 39.62 |
| PAT margin | 9.34% | 9.75% | 8.81% |
| Balance sheet | |||
| Total assets | 1,799.19 | 1,246.29 | 966.8 |
| Current assets | 1,781.23 | 1,231.36 | 955.9 |
| Current liabilities | 1,541.76 | 1,064.67 | 873.33 |
| Total liabilities | 1,552.49 | 1,070.7 | 878.44 |
| Net worth | 246.7 | 175.59 | 88.37 |
| Current ratio | 1.16× | 1.16× | 1.09× |
| Return on equity | 28.91% | 35.45% | 44.83% |
| Cash flow | |||
| Operating cash flow | -41.19 | -92.6 | 5.46 |
| Investing cash flow | -5.31 | -0.74 | 19.78 |
| Financing cash flow | 24.63 | 94.17 | 0.57 |
| Net cash flow | -21.87 | 0.83 | 25.82 |
Objects of the issue
Stated use of the net proceeds— open a row for the issuer's full explanation
1 Funding Redevelopment Expenses ₹146 Cr
The company proposes to fund costs towards obtaining government and statutory approvals and purchase of additional FSI as per applicable laws, and cost towards compensation to members towards alternate accommodation and hardship compensation, in relation to the development of certain Under-construction and Upcoming Redevelopment Projects.
2 Repayment of Outstanding Borrowings ₹91.50 Cr
The company proposes to repay and/or pre-pay, in full or part, certain borrowings availed by the company to help deleverage, reduce debt servicing costs and enable utilisation of internal accruals for further investment in business growth and expansion.
3 Funding Acquisition of Future Redevelopment Projects and General Corporate Purposes —
The company proposes to fund acquisition of future redevelopment projects and general corporate purposes including strategic initiatives, funding growth opportunities, strengthening marketing capabilities, meeting working capital requirements and other business requirements as approved by the Board from time to time.
1 of 3 objects carry no stated amount — typically general corporate purposes, funded from whatever remains — so the total above is the quantified portion only, not the whole issue.
About Pranav Constructions
Pranav Constructions Limited, incorporated as a private limited company on July 31, 2003, and converted to a public limited company in 2024, operates as a pure-play redeveloper in the MCGM Region with focus on the Western Suburbs. The company enters into redevelopment agreements with Co-operative Housing Societies, demolishing existing structures and constructing new residential premises comprising units for existing members and additional units for sale. As of March 31, 2026, the company had completed 28 redevelopment projects (561 units), 20 under-construction projects (611 units), and 17 upcoming projects. Revenue is generated from the sale of additional units and area to existing co-operative society members and new customers. The company's revenue from operations was ₹7,615.96 million in Fiscal 2026, with 99.70% attributable to MCGM Region redevelopment activities.
Management
Pranav Kiran Ashar
MD
Ravi Ramalingam
CEO
Strengths
As stated in the offer document
Among the leading real estate companies in the Western Suburbs with a demonstrated growth and strong pipeline
The company is the leading real estate company based on supply of units and number of completed and under construction MCGM-Redevelopment projects in Western Suburbs, with 1,864 units and 34 projects versus competitors having 4-11 projects each.
Demonstrated project execution capabilities with in-house functional expertise
The company has adopted an integrated Redevelopment model with capabilities to execute projects from initiation to completion, achieving average project construction cycle of 26 months and average sales of 48.60% within first six months of launch.
Capital efficient business model with high barriers to entry
The company enters into Redevelopment agreements with Co-operative Housing Societies enabling capital efficiency by reducing initial financial outlay compared to land acquisition, with initial capital investments as low as 9-13% of total sales value.
Established a customer-centric brand in the Western Suburbs with robust stakeholder management
The company has a proven track record of timely completion with strong execution capabilities and has become a trusted and reliable brand in Western Suburbs, resulting in strong brand recall and customer goodwill.
Track record of consistent financial performance
The company demonstrated growth in profit after tax of 14.57% year-on-year from Fiscal 2025 to 2026 and revenue growth of 19.70% year-on-year, with debt-equity ratio improving from 1.18 to 1.08.
Experienced Promoters and professional senior management with good corporate governance practices
The company is led by experienced Promoters with Pranav Kiran Ashar having 22 years real estate experience and Ravi Ramalingam having 17 years finance experience, supported by professionally qualified management team.
Risk factors
As stated in the offer document
Geographic Concentration Risk in MCGM Region
The company's redevelopment activities are geographically concentrated in the MCGM Region, which accounted for 99.70%, 99.69% and 99.50% of revenue from operations for Fiscal 2026, 2025 and 2024 respectively. The company is exposed to risks from varying market conditions, economic, regulatory changes and natural disasters in this specific region.
Project Completion and Delay Risk
The company's inability to complete its 20 Under-construction and 17 Upcoming Redevelopment Projects by expected completion dates could result in RERA mandated penalties, customer dissatisfaction, and failure to realize expected project economics. Average project construction cycle is 26 months from first commencement certificate to occupation certificate.
Inventory Sales Risk
The company faces risk if unable to sell redevelopment project inventory in a timely manner due to escalating property prices impacting customer purchasing power. As of March 31, 2026, the company had 75 unsold units (12.28% of total 611 units) in Under-construction projects, with some projects having unsold inventory as high as 81.82%.
Supplier Dependency and Material Cost Volatility
The company depends on a limited number of suppliers without formal agreements, with top 10 suppliers contributing 61.78%, 69.80% and 52.50% of total material costs for Fiscal 2026, 2025 and 2024 respectively. Material and construction costs represented 19.65%, 20.29% and 19.70% of total expenses, subject to price volatility and supply disruptions.
Contractor Dependency Risk
The company depends on a limited number of contractors for construction activities, with top 10 contractors contributing 47.10%, 56.41% and 46.92% of total contractor payments for Fiscal 2026, 2025 and 2024 respectively. Any delay or failure by contractors could adversely affect project timelines and quality standards.
Financing and Debt Servicing Risk
The company's business requires significant expenditure funded through bank financing. Total borrowings were ₹2,584.43 million as of March 31, 2026. The company has restrictive covenants and ₹236.04 million in unsecured loans repayable on demand, with personal guarantees of ₹2,272.50 million from promoters.
Negative Operating Cash Flow Risk
The company experienced negative cash flows from operating activities of ₹411.94 million and ₹926.01 million in Fiscal 2026 and 2025 respectively, primarily due to upfront costs before revenue generation. This may adversely affect cash flow requirements and ability to implement growth plans.
Company Analysis
from RHPPranav Constructions Limited is a real estate company specializing in redevelopment projects in the Mumbai Metropolitan Region (MCGM Region), demolishing existing structures and constructing new residential properties for existing inhabitants and sale.
Pranav Constructions Limited, incorporated as a private limited company on July 31, 2003, and converted to a public limited company in 2024, operates as a pure-play redeveloper in the MCGM Region with focus on the Western Suburbs. The company enters into redevelopment agreements with Co-operative Housing Societies, demolishing existing structures and constructing new residential premises comprising units for existing members and additional units for sale. As of March 31, 2026, the company had completed 28 redevelopment projects (561 units), 20 under-construction projects (611 units), and 17 upcoming projects. Revenue is generated from the sale of additional units and area to existing co-operative society members and new customers. The company's revenue from operations was ₹7,615.96 million in Fiscal 2026, with 99.70% attributable to MCGM Region redevelopment activities.
Objects of the Issue
- Funding costs towards obtaining government and statutory approvals and purchase of additional FSI as per applicable laws and cost towards compensation to members towards alternate accommodation, and hardship compensation, in relation to the development of certain Under-construction Redevelopment Projects and Upcoming Redevelopment Projects p.35
- Repayment and/or pre-payment, in full or part, of certain borrowings availed by our Company p.35
- Funding acquisition of future redevelopment projects and general corporate purposes p.35
- Funding capex and capital expenditure for growth initiatives ₹3,156.00 million p.62
- Funding costs towards obtaining government and statutory approvals and purchase of additional FSI as per applicable laws and cost towards compensation to members towards alternate accommodation, and hardship compensation, in relation to the development of certain of our Under-construction Redevelopment Projects, and certain of our Upcoming Redevelopment Projects (Funding Redevelopment Expenses) ₹1,457.18 million p.98
- Repayment and/or pre-payment, in full or part, of certain borrowings availed by our Company ₹915.00 million p.98
- Funding acquisition of future redevelopment projects and general corporate purposes [●] million p.98
Issue Structure
- Total Issue
- Up to [●] Equity Shares of face value of ₹10 each aggregating up to ₹[●] million
- Fresh Issue
- Up to [●] Equity Shares of face value of ₹10 each aggregating up to ₹3,156.00 million
- Offer for Sale
- Up to 2,856,869 Equity Shares of face value of ₹10 each aggregating up to ₹[●] million by BioUrja India Infra Private Limited
- Price Band
- ₹[●] per Equity Share (Floor Price) to ₹[●] per Equity Share (Cap Price)
- Lot Size
- [●] Equity Shares and in multiples of [●] Equity Shares thereafter
- Face Value
- ₹10 each
Business Model
The company generates revenue through the sale of redeveloped residential units. It acquires redevelopment rights from Co-operative Housing Societies through competitive bidding, demolishes existing structures, and constructs new buildings containing units allocated to existing society members (rehabilitation component) plus additional units for sale to new customers. Revenue is recognized upon sale of units. The model is capital-intensive, funded through a combination of pre-sales (cash collections during construction), bank financing, and internal resources.
Business Segments
SWOT Analysis
- • Market leadership in MCGM redevelopment with scale and experience(p.38)
- • Established brand and reputation in redevelopment segment(p.37)
- • Strong track record of project execution and timely completion(p.32)
- • Positive revenue growth trajectory(p.38)
- • Strong pre-sales absorption rate demonstrating market demand(p.27)
- • Capital-efficient business model compared to greenfield development(p.31)
- • Strong pre-sales velocity with 70.43% of available units pre-sold in FY2026(p.42)
- • Improving employee retention with declining attrition rate from 24.87% (FY2024) to 13.54% (FY2026)(p.43)
- • Strong revenue growth from ₹4,474.83 million (FY2024) to ₹7,615.96 million (FY2026)(p.66)
- • Robust profit growth with profit before tax increasing from ₹391.04 million (FY2024) to ₹939.37 million (FY2026)(p.66)
- • Leading redeveloper in Western Suburbs with strong execution track record(p.206)
- • Proven timely project delivery with 26-month average construction cycle(p.211)
- • Capital-efficient business model reducing land acquisition costs(p.213)
- • Strong in-house execution capabilities across all project stages(p.210)
- • Consistent financial growth with expanding project pipeline(p.214)
- • Strong sales velocity with high absorption rates post-launch(p.210)
- • Established brand with strong market recall in Western Suburbs(p.213)
- • Rank 1st in MCGM region for highest combined supply in recent period(p.206)
- • Asset-light business model with capital efficiency(p.218)
- • Shorter project cycles enhancing investor returns(p.218)
- • Strong brand equity and market recognition(p.218)
- • Portfolio of 28 completed projects with zero unsold units(p.220)
- • Significant market opportunity in redevelopment segment(p.218)
- • In-house expertise across all project development stages(p.227)
- • Technology upgradation for operational efficiency(p.218)
- • Consistent revenue growth and profitability(p.283)
- • Strong cash generation and balance sheet(p.282)
- • Experienced management in redevelopment business(p.288)
- • Leading market position in MCGM Redevelopment projects(p.363)
- • Rapid revenue and profit growth trajectory(p.364)
- • Strong project execution capability with proven track record(p.366)
- • Demonstrated consistent financial profitability(p.364)
- • Solid equity base and improved debt metrics(p.364)
- • Strong financial performance with revenue growth of 19.70% and profit growth of 14.57% in FY2026(p.382)
- • Significant improvement in profitability margins with profit before tax increasing 30.31% year-over-year(p.384)
- • Multiple completed and under-construction redevelopment projects providing revenue pipeline(p.385)
- • Extreme geographic concentration risk in MCGM Region(p.23)
- • High dependence on limited number of suppliers(p.28)
- • High dependence on limited number of contractors(p.29)
- • Significant leverage and debt burden(p.35)
- • Unsecured loans repayable on demand from promoters(p.36)
- • Significant inventory concentration in recently launched projects(p.27)
- • Pending regulatory approvals causing project delays(p.33)
- • Outstanding litigation involving company and promoters(p.35)
- • High customer concentration with significant dependence on related party transactions(p.65)
- • Material creditor concentration with one creditor owing ₹2,270.83 million (67.4% of total payables)(p.44)
- • Past delays in statutory dues payment despite recent improvement(p.43)
- • Promoter litigation creating governance uncertainty and disclosure limitations(p.44)
- • Significant outstanding creditor dues of ₹3,370.59 million with 329 creditors(p.44)
- • Heavy reliance on contract labour with exposure to labour legislation risks(p.45)
- • Concentrated portfolio heavily dependent on Western Suburbs geography(p.206)
- • Limited diversification - single product focus on redevelopment only(p.206)
- • High debt-to-equity ratio of 1.08 indicating significant leverage(p.214)
- • Dependence on supplier and contractor relationships for project delivery(p.211)
- • Emerging market presence limited with only 25% of upcoming supply in new areas(p.185)
- • High concentration of supplier expenses among top 10 suppliers(p.230)
- • Dependence on leave and license arrangements for office premises(p.37)
- • Limited geographic diversification with concentration in Western Suburbs(p.219)
- • Promoter group member with estranged relationship(p.40)
- • No dividend history and uncertain future dividend payments(p.275)
- • High leverage with significant borrowings(p.312)
- • Dependence on director financing and inter-corporate deposits(p.312)
- • Large concentration of trade payables(p.318)
- • Pending income tax dispute(p.298)
- • Dependence on single business segment with geographic concentration(p.365)
- • High cost obligations linked to developer share transfers(p.367)
- • Elevated leverage relative to equity base(p.364)
- • Significant finance costs impacting profitability(p.367)
- • Dependence on third-party contractors for timely project completion(p.367)
- • Heavy dependence on a limited number of suppliers for construction materials(p.390)
- • Dependence on a limited number of contractors for business operations(p.390)
- • Significant debt burden with debt-to-equity ratio of 1.08 as of March 31, 2026(p.387)
- • Litigation risk involving promoter domestic matters impacting reputation(p.393)
- • Negative operating cash flow requiring capital management in FY2026(p.386)
- • Limited availability of land creating rising redevelopment demand(p.30)
- • Strong pipeline of redevelopment bids and project acquisition(p.30)
- • Geographic expansion within MCGM Region into high-value markets(p.37)
- • Growing demand for economical and affordable housing(p.26)
- • IPO enabling capital for growth and project acquisition(p.35)
- • Strategy to upgrade technology and operational efficiency across project execution(p.46)
- • Significant residential real estate demand from target market segments(p.53)
- • Expansion of pre-sales velocity indicating strong market acceptance and growth potential(p.42)
- • Significant housing shortage creating redevelopment demand - shortage projected to reach 38 Mn units by 2030(p.150)
- • Scarcity of land driving redevelopment opportunities in Western and Eastern Suburbs(p.187)
- • Strong government support for affordable housing with policy incentives(p.152)
- • Home loan rates declining to 8% with improved affordability conditions(p.152)
- • Middle class expansion with 1 in 2 households expected in upper-middle income by 2030(p.153)
- • Demographic dividend with 65% of population reaching working age by 2036(p.149)
- • MCGM redevelopment projects dominating supply at 66% with 68,888 units(p.215)
- • Expansion into emerging micro-markets with untapped redevelopment potential(p.216)
- • Expansion into new micro-markets within MCGM region(p.218)
- • Large pipeline of upcoming redevelopment projects(p.226)
- • Increasing market demand for mid and mass housing segment(p.220)
- • Technology adoption for competitive advantage(p.229)
- • Continued execution of under-construction projects(p.224)
- • Significant pipeline of development rights for future revenue growth(p.320)
- • Large contract assets backlog to be recognized(p.320)
- • Strategic expansion into infrastructure business through subsidiary(p.288)
- • Access to diverse financing sources for project development(p.313)
- • Significant urbanization and scarcity of land driving redevelopment demand(p.365)
- • Strong pipeline of redevelopment projects and bids(p.365)
- • Declining interest rates supporting housing demand(p.367)
- • Strong market growth in Western Suburbs of MCGM region(p.363)
- • Expansion of redevelopment project portfolio in growing Mumbai real estate market(p.384)
- • Strategic positioning in Mumbai residential redevelopment segment with identified project pipeline(p.384)
- • Market conditions and economic downturn impacting demand(p.24)
- • Property price inflation reducing housing affordability(p.26)
- • Natural disasters and flooding risks in MCGM Region(p.24)
- • Construction material price volatility and supply disruptions(p.28)
- • Interest rate increases reducing customer financing availability(p.39)
- • Changes in property tax and stamp duty regimes(p.40)
- • Increasing regulatory and compliance requirements(p.41)
- • Competitive pressure from larger developers with greater resources(p.42)
- • Penalty clauses for project delays under redevelopment agreements(p.31)
- • Risk of project delays from regulatory approvals and legal challenges(p.40)
- • Real estate industry cyclicality with history of significant downturns affecting demand(p.52)
- • Construction material cost inflation driven by geopolitical conflicts(p.48)
- • Rising interest rates affecting property affordability and customer financing capacity(p.53)
- • Inflation and housing affordability challenges reducing customer purchasing power(p.53)
- • RERA compliance obligations and regulatory uncertainties in real estate sector(p.54)
- • Potential homebuyer insolvency proceedings under retroactive IBC Amendment application(p.55)
- • Foreign investment restrictions limiting access to foreign capital and investor base(p.50)
- • Regulatory delays and RERA compliance burdens increasing project timelines and costs(p.188)
- • Rising property prices reducing housing affordability and demand(p.188)
- • Economic instability impacting market dynamics and investment decisions(p.188)
- • High capital requirements for infrastructure and equipment procurement(p.188)
- • Wholesale price inflation volatility with deflationary periods impacting costs(p.147)
- • Political uncertainty affecting developer confidence and project launches(p.156)
- • Time and cost overruns from delays in obtaining regulatory clearances(p.187)
- • Highly competitive real estate market with large national players(p.231)
- • Regulatory changes and compliance requirements in RERA(p.235)
- • Inability to maintain adequate insurance cover(p.231)
- • Real estate sector cyclicality and market volatility(p.229)
- • Environmental regulations and compliance requirements(p.240)
- • Delays in obtaining statutory approvals and permits(p.229)
- • Ability to pay dividends impacted by macro-economic and regulatory changes(p.275)
- • Leverage dependent on continuous project completion and real estate market dynamics(p.313)
- • High finance costs exposed to interest rate fluctuations(p.321)
- • Concentration of borrowing from housing finance institutions(p.313)
- • Fluctuations in real estate market prices and demand cycles(p.366)
- • Volatility in construction material costs and supply disruptions(p.367)
- • Rising interest rates affecting borrowing costs(p.367)
- • Regulatory and approval delays impacting project timelines(p.367)
- • Intense competition from other real estate developers(p.369)
- • External economic and income conditions affecting buyer demand(p.366)
- • Significant litigation risk related to land title disputes affecting project execution(p.391)
- • Significant regulatory and approval dependencies for project execution(p.36)
- • Finance cost inflation risk with floating interest rate borrowings(p.384)
- • Competitive pressure in Mumbai real estate redevelopment market(p.390)
Promoters
| Name | Role | Pre-Issue | Post-Issue |
|---|---|---|---|
| Pranav Kiran Ashar | Promoter | — | — |
| Ravi Ramalingam | Promoter | — | — |
| Pranav Kiran Ashar | Promoter | 46.46% | — |
| Ravi Ramalingam | Promoter | 16.89% | — |
| Pranav Ashar Trust | Promoter Group | 0.00% | — |
| Pranav Kiran Ashar | Promoter | 46.46% | — |
| Ravi Ramalingam | Promoter | 16.89% | — |
| RiverCrest India Infrastructure Private Limited | Promoter Group | 27.14% | — |
| Pranav Kiran Ashar | Promoter | — | — |
| Ravi Ramalingam | Promoter | — | — |
| Pranav Kiran Ashar | Promoter | 46.46% | — |
| Ravi Ramalingam | Promoter | 16.89% | — |
| Pranav Kiran Ashar | Promoter | 47.21% | 46.46% |
| River Crest India Infrastructure Private Limited | Promoter Group | 27.58% | 27.14% |
| Ravi Ramalingam | Promoter | 17.26% | 16.89% |
| Pranav Kiran Ashar | Promoter/Managing Director | — | — |
| Ravi Ramalingam | Promoter/Whole Time Director | — | — |
| BioUrja India Infra Private Limited | Investor Selling Shareholder | — | — |
Leadership
Auto-extracted from the company's RHP using AI, with each fact linked to its source passage (hover any row to see the quote & page). Provided for research only, not investment advice — verify against the official RHP before relying on it.
Peer comparison
The comparable listed companies named in the offer document, as on 31 Mar 2026
| Company | EPS | NAV | P/E | P/BV | RoNW |
|---|---|---|---|---|---|
| Pranav Constructions Limited THIS ISSUE | 8.18 | 28.30 | 19.59, computed at the offer price | — | 33.78% |
| 6.25 | 229.29 | 64.86 | 1.76 | 3.34% | |
| 61.43 | 642.58 | 33.25 | 3.18 | 9.97% | |
| 34.34 | 234.55 | 33.48 | 4.90 | 15.71% | |
| 19.51 | 207.87 | 9.94 | 0.93 | 9.53% | |
| −4.51 | 135.84 | — | 2.87 | -3.73% | |
| 0.29 | 47.51 | 482.59 | 2.96 | 0.60% | |
| 4.76 | 198.04 | 56.64 | 1.36 | 2.45% |
Blank cells are figures the offer document does not publish. This issue is unlisted, so it has no market price and the document publishes no multiple for it — its P/E here is computed at the offer price, on the post-issue share count, and is comparable to a listed peer's.