HB Estate Developers
HBESD NSE
HB Estate Developers
RealtyNSE: HBESD BSE: 532334 Residential Commercial Projects
Key Fundamentals
MicrocapResidential Commercial ProjectsRealtyMarket Cap
₹169 Cr
Volatility
Moderate
P/E Ratio
12.99
EBITDA
₹42.20 Cr
Return on Equity
6.05%
Debt to Equity
1.34
Book Value
₹84.21
52W High
₹95.9
52W Low
₹61.05
Tapetide Score
Data-driven rating, 0–100. How it works →
Key Insights
Strengths
2- Stock is trading at 0.87 times its book value
- Company has delivered good profit growth of 19.0% CAGR over last 5 years
Weaknesses
3- Though the company is reporting repeated profits, it is not paying out dividend
- Company has a low return on equity of 5.28% over last 3 years.
- Company might be capitalizing the interest cost
Growth Rate
Revenue Growth
-1.33% lower than
3Y
Net Income Growth
8.33% lower than
3Y
Cash Flow Change
31% higher than
3Y
ROE
-2.26% lower than
3Y
ROCE
-9.38% level than
3Y
EBITDA Margin (Avg.)
-5.76% lower than
3Y
Quarterly Results
| Particulars | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 23.93 | 24.38 | 29.73 | 31.36 | 25.64 | 27.41 | 31.41 | 33.23 | 23.76 | 26.73 | 33.46 | 32.97 | 27.75 |
| Expenses | 16.75 | 17.21 | 18.06 | 18.53 | 17.02 | 18.98 | 18.65 | 19.97 | 17.22 | 18.66 | 18.22 | 22.11 | 20.3 |
| Operating Profit | 7.18 | 7.17 | 11.67 | 12.83 | 8.62 | 8.43 | 12.76 | 13.26 | 6.54 | 8.07 | 15.24 | 10.86 | 7.45 |
| OPM % | 30% | 29.41% | 39.25% | 40.91% | 33.62% | 30.76% | 40.62% | 39.9% | 27.53% | 30.19% | 45.55% | 32.94% | 26.85% |
| Other Income | 0.22 | 0.73 | 0.38 | 0.7 | 0.71 | 0.36 | 0.32 | 0.98 | 0.4 | 0.28 | 0.36 | 0.49 | 0.41 |
| Interest | 6.22 | 6.29 | 7.11 | 6.49 | 5.73 | 5.58 | 5.42 | 5.09 | 4.43 | 4.3 | 4.13 | 3.63 | 3.33 |
| Depreciation | 1.83 | 1.86 | 1.88 | 1.87 | 1.89 | 1.93 | 1.92 | 1.87 | 1.97 | 2.01 | 2.01 | 1.99 | 2.05 |
| PBT | -0.65 | -0.25 | 3.06 | 5.17 | 1.71 | 1.28 | 5.74 | 7.28 | 0.54 | 2.04 | 9.46 | 5.73 | 2.48 |
| Tax % | 84.62% | 272% | 50.98% | 12.57% | 46.78% | 62.5% | 16.03% | 37.09% | 27.78% | 37.75% | 31.29% | 38.05% | 37.9% |
| Net Profit | -1.21 | -0.93 | 1.51 | 4.52 | 0.91 | 0.49 | 4.82 | 4.58 | 0.38 | 1.27 | 6.5 | 3.55 | 1.54 |
| EPS in Rs | -0.62 | -0.48 | 0.78 | 2.32 | 0.47 | 0.25 | 2.48 | 2.13 | 0.18 | 0.57 | 2.83 | 1.55 | 0.67 |
Profit & Loss
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 64 | 67 | 73 | 84 | 89 | 82 | 24 | 50 | 95 | 108 | 116 | 115 | 121 |
| Expenses | 50 | 52 | 57 | 62 | 61 | 55 | 30 | 42 | 63 | 69 | 73 | 75 | 79 |
| Operating Profit | 14 | 15 | 17 | 21 | 28 | 27 | -6 | 8 | 32 | 39 | 43 | 41 | 42 |
| OPM % | 21% | 23% | 23% | 25% | 32% | 32% | -24% | 16% | 34% | 36% | 37% | 35% | 34% |
| Other Income | -9 | 3 | 2 | 1 | 2 | 1 | 1 | 1 | 2 | 2 | 2 | 2 | 2 |
| Interest | 31 | 30 | 31 | 27 | 28 | 25 | 22 | 24 | 25 | 26 | 22 | 16 | 15 |
| Depreciation | 15 | 15 | 14 | 14 | 14 | 14 | 14 | 7 | 7 | 7 | 8 | 8 | 8 |
| PBT | -41 | -28 | -27 | -19 | -12 | -12 | -41 | -22 | 3 | 7 | 16 | 18 | 20 |
| Tax % | 10% | 11% | -26% | -13% | -14% | -24% | -26% | -29% | 556% | 47% | 33% | 34% | — |
| Net Profit | -45 | -31 | -20 | -16 | -10 | -9 | -30 | -16 | -12 | 4 | 11 | 12 | 13 |
| EPS in Rs | -27.93 | -19.1 | -12.42 | -8.38 | -5.36 | -4.52 | -15.61 | -8.05 | -5.98 | 2 | 5.03 | 5.1 | 5.62 |
| Div. Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | — |
Balance Sheet
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 16 | 16 | 20 | 20 | 20 | 20 | 20 | 20 | 20 | 20 | 22 | 23 |
| Reserves | 32 | 1 | 234 | 218 | 200 | 186 | 154 | 138 | 126 | 129 | 153 | 170 |
| Borrowings | 391 | 402 | 292 | 287 | 287 | 274 | 328 | 347 | 331 | 311 | 284 | 258 |
| Other Liabilities | 44 | 52 | 40 | 42 | 36 | 39 | 28 | 25 | 29 | 34 | 38 | 39 |
| Total Liabilities | 482 | 470 | 585 | 567 | 543 | 519 | 529 | 530 | 505 | 494 | 496 | 491 |
| Fixed Assets | 431 | 418 | 475 | 461 | 448 | 435 | 422 | 416 | 411 | 406 | 404 | 398 |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 8 | 6 | 21 | 22 | 14 | 2 | 2 | 3 | 3 | 3 | 2 | 2 |
| Other Assets | 44 | 47 | 89 | 85 | 82 | 82 | 105 | 111 | 91 | 85 | 90 | 91 |
| Total Assets | 482 | 470 | 585 | 567 | 543 | 519 | 529 | 530 | 505 | 494 | 496 | 491 |
Cash Flow
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating | -29 | 17 | 2 | 29 | 34 | 29 | -14 | 3 | 42 | 49 | 35 | 45 |
| Investing | 29 | 3 | -1 | 0 | 6 | 10 | 0 | 0 | -2 | -1 | -4 | -1 |
| Financing | -1 | -20 | 1 | -29 | -38 | -42 | 16 | -6 | -41 | -45 | -32 | -36 |
| Net Cash Flow | 0 | 1 | 1 | 0 | 2 | -3 | 2 | -3 | -1 | 2 | -2 | 9 |
| Free Cash Flow | -33 | 15 | 0 | 28 | 33 | 26 | -14 | 2 | 40 | 46 | 29 | 44 |
| CFO/OP | -210 | 120 | 8 | 140 | 118 | 108 | 283 | 45 | 134 | 127 | 80 | 108 |
Ratios
| Particulars | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 19 | 30 | 15 | 14 | 14 | 11 | 26 | 20 | 12 | 12 | 14 | 21 |
| Inventory Days | 852 | 981 | 742 | 768 | 460 | 700 | 1,480 | 778 | 568 | — | — | — |
| Days Payable | 450 | 809 | 798 | 681 | 405 | 705 | 1,166 | 394 | 346 | — | — | — |
| Cash Conversion Cycle | 422 | 202 | -41 | 101 | 70 | 6 | 340 | 404 | 234 | 12 | 14 | 21 |
| Working Capital Days | -59 | -101 | 8 | -53 | -68 | -107 | -381 | -170 | -122 | -294 | -123 | -106 |
| ROCE % | 0% | 1% | 1% | 1% | 3% | 3% | -4% | 0% | 6% | 7% | 8% | 8% |
Insights
BetaAI-extracted from concalls & annual reports · figures as reported, with sources
Log in to view HB Estate Developers insights
48 extracted metrics + investor summaries across FY05–FY26.
Documents
1
Announcement under Regulation 30 (LODR)-Newspaper Publication
28 Apr - Newspaper Publication of Second 100 days'' Campaign "Saksham Niveshak" 28 Apr - Newspaper Publication of Second 100 days'' Campaign "Saksham Niveshak"
2
Announcement under Regulation 30 (LODR)-Newspaper Publication
28 Apr - Newspaper Publication of Second 100 days'' Campaign "Saksham Niveshak" 28 Apr - Newspaper Publication of Second 100 days'' Campaign "Saksham Niveshak"
3
Announcement under Regulation 30 (LODR)-Newspaper Publication
14 Apr - Newspaper Publication regarding Special window for relodgement of transfer request and dematerialisation of physical shares 14 Apr - Newspaper Publication regarding Special window for relodgement of transfer request and dematerialisation of physical shares
4
Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
7 Apr - Submission of Certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018 for the Quarter and year ended on March 31, 2026 7 Apr - Submission of Certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018 for the Quarter and year ended on March 31, 2026
5
Closure of Trading Window
23 Mar - HB Estate Developers: trading window closed Apr 1, 2026 until 48 hours after audited FY2025-26 results. 23 Mar - HB Estate Developers: trading window closed Apr 1, 2026 until 48 hours after audited FY2025-26 results.
Frequently Asked Questions about HB Estate Developers
What does HB Estate Developers Ltd do?
Incorporated in 1994, HB Estate Developers Ltd is engaged in the business of owning and managing hotels and real estate properties.
Where is HB Estate Developers Ltd (532334) listed?
HB Estate Developers Ltd trades as HBESD on the NSE and under code 532334 on the BSE.
Which sector does HB Estate Developers Ltd belong to?
HB Estate Developers Ltd is classified under the Realty sector, in the Residential Commercial Projects industry.
What is the market capitalisation of HB Estate Developers Ltd?
HB Estate Developers Ltd has a market capitalisation of ₹168.69 Cr, which places it in the Small Cap band.
What is the PE ratio of HB Estate Developers Ltd?
HB Estate Developers Ltd trades at a PE ratio of 12.99, against a book value of ₹84.21 per share.
What is the 52-week high and low of HB Estate Developers Ltd?
Over the last 52 weeks HB Estate Developers Ltd has traded between ₹61.05 and ₹95.9.
What is the Return on Equity (ROE) of HB Estate Developers Ltd?
HB Estate Developers Ltd reported a return on equity of 6.05%. Its debt-to-equity ratio is 1.34.
Company Information
Incorporated in 1994, HB Estate Developers Ltd is engaged in the business of owning and managing hotels and real estate properties.
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