Alpine Housing Development Corporation Ltd.

•

alpinehousing.comBSE: -NSE: ALPINEHOU

Market Cap₹ 206 Cr.

Current Price

High / Low₹ 10 / 10

Stock P/E27.8

Book Value₹ 53

Price to Book3.26

Dividend Yield0.00 %

ROCE6.4 %

ROE4.4 %

Face Value₹ 10

Add ratio to table

ABOUT

KEY POINTS

Revenue Breakup Mar 2024 • Housing Construction: 82.9% • Industry: 17.1%

AI Sector View

AI GENERATED

Realty

Buy

Housing and construction indicators remain supportive for real estate. The housing index reached 105 (Mar/26), residential property prices rose 4.21% (Mar/26), construction output was 5.4% (Jul/26), and cement output accelerated to 13.1% YoY (2026-07). Bank lending rates are steady at 8.96% (Aug/26) rather than easing, but FPI flows turned positive with INR 1999 crore net inflow over 3 months to 2026-08-31 from INR -7216 crore previously.

Confidence

75%

View full sector analysis →

PROS

Strong cash generation - operating cash flow backs reported profits (CFO/PAT 3.70x)
Company generates healthy free cash flow
Company maintains a comfortable, low leverage position

CONS

A large part of profit comes from other income (65.8% of PBT)
Company has a low return on capital employed of 5.1%
Company has a low return on equity of 3.5% over last 3 years
Company has delivered a poor profit growth of 3.0% over past five years
Operating margins have contracted to 8.2% from 16.1%
Recurring exceptional / one-off items are inflating headline profit

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

RealtyRealtyConstruction - Real Estate

Part ofNIFTY 50 NIFTY 500 NIFTY LARGEMIDCAP 250 NIFTY 100 NIFTY 200

S.No.	Name
1.	DLF	670.00	37.30	165845.88	1.19	793.90	-89.59	1280.34	-52.87	6.81	49.68
2.	LODHA	1211.80	29.35	121085.87	0.35	1373.10	103.39	4996.70	43.10	16.89	38.51
3.	PHOENIXLTD	1930.00	53.93	69031.83	0.13	394.51	22.95	1074.94	12.80	13.70	59.77
4.	OBEROIRLTY	1877.50	25.96	68266.32	0.43	543.51	29.02	1300.89	31.73	17.69	56.75
5.	PRESTIGE	1579.00	59.72	68012.30	0.13	271.40	-12.87	2675.10	15.94	11.51	31.75
6.	GODREJPROP	1960.00	36.90	59040.39	0.51	349.38	-41.61	506.17	16.48	8.37	-57.98
7.	ANANTRAJ	587.90	36.57	21157.16	0.17	149.19	18.50	631.40	6.58	12.23	29.53
8.	BRIGADE	639.90	30.04	20877.33	0.23	216.94	37.35	1115.55	-12.93	11.02	32.33
9.	ABREL	1331.60	112.46	14873.40	0.19	-34.59	-27.73	188.85	30.95	-4.54	-30.02
10.	SOBHA	1230.00	57.04	13155.32	0.49	50.85	273.37	1278.15	50.03	6.96	6.07
11.	SIGNATURE	765.70	10.32	10772.33	0.00	-16.53	-148.00	551.99	-36.24	7.49	-8.10
12.	ALPINEHOU	118.90	27.76	205.96	0.00	1.95	260.37	16.76	1.51	6.37	18.19

Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	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
	16	13	12	15	11	9	22	15	17	15	22	20	17
	15	12	11	13	10	8	19	12	16	14	19	16	14
Operating Profit	1	2	2	2	1	1	3	4	1	2	3	5	3
OPM %	7.96%	14.11%	13.93%	15.62%	11.16%	15.38%	13.52%	24.03%	7.69%	10.49%	15.09%	23.08%	18.19%
Other Income	0	0	0	0	0	0	0	0	0	0	0	0	0
Interest	0	1	0	1	0	1	1	1	0	0	0	1	0
Depreciation	0	0	0	0	0	0	0	0	0	0	0	1	0
	1	1	1	1	1	1	2	3	1	1	3	3	2
Tax %	4.62%	24.56%	14.77%	14.29%	11.11%	18.46%	18.18%	19.59%	-3.85%	20.69%	15.56%	24.71%	16.91%
Net Profit	1	1	1	1	0	1	2	2	1	1	2	3	2
	0	0	0	1	0	0	1	1	0	0	1	2	0
Equity Capital	17	17	17	17	17	17	17	17	17	17	17	17	17
Reserves	0	0	0	0	0	0	0	0	0	0	0	0	0
Promoter Pledge %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	TTM
	16	24	28	30	31	41	42	45	48	55	73
	15	19	23	25	25	35	36	40	43	50	63
Operating Profit	3	7	6	6	7	7	7	6	6	7	—
OPM %	19	28	21	21	23	18	16	13	12	13	—
Other Income	1	1	1	1	1	2	1	1	1	3	0
Interest	1	1	1	2	2	3	3	3	2	2	2
Depreciation	1	1	1	1	1	1	1	1	1	1	2
	2	5	4	4	4	4	3	3	3	4	9
Tax %	7	23	19	17	21	15	17	18	14	16	20
Net Profit	1	4	3	3	3	3	3	2	2	3	7
EPS	0	0	0	0	0	2	2	0	0	2	—
Dividend Payout %	45	19	21	0	0	0	0	0	0	25	—
Minority Interest	0	0	0	0	0	0	0	0	0	0	0
Share of Associates	0	0	0	0	0	0	0	0	0	0	0
Adjusted EPS	1	2	2	2	2	2	2	1	1	2	—

COMPOUNDED SALES GROWTH

10 Years:: 3%
5 Years:: 12%
3 Years:: 9%

COMPOUNDED PROFIT GROWTH

10 Years:: 9%
5 Years:: 3%
3 Years:: 6%

STOCK PRICE CAGR

10 Years:: —
5 Years:: —
3 Years:: 1%
1 Year:: -27%

RETURN ON EQUITY

10 Years:: 4%
5 Years:: 4%
3 Years:: 3%
Last Year:: 4%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
LIABILITIES	-	-	-	-	-	-	-	-	-	-
Equity Capital	6	13	13	13	17	17	17	17	17	17
	47	44	47	49	48	51	54	56	59	62
	22	26	13	34	23	27	25	13	12	7
Trade Payables	5	4	4	6	5	6	2	2	2	2
	54	73	98	88	98	84	68	70	56	52
Total Liabilities	135	161	174	190	191	185	166	158	146	140
ASSETS	-	-	-	-	-	-	-	-	-	-
	14	15	14	13	12	12	11	6	5	10
Capital Work in Progress	1	0	0	0	0	0	0	0	0	0
	67	100	107	118	118	104	94	79	62	54
	0	0	0	0	0	0	0	0	0	26
Cash & Bank	1	4	1	3	4	2	2	2	1	3
	52	42	52	57	57	66	59	70	77	48
Total Assets	135	161	174	190	191	185	166	158	146	140
Total Debt	39	41	53	68	59	44	41	44	22	17
Net Working Capital	54	56	85	82	88	73	74	84	66	65
Contingent Liabilities	0	0	0	1	1	2	4	2	19	13
Book Value per Share	83.04	43.82	46.21	48.01	37.72	39.63	41.27	42.47	43.84	45.82
Face Value	10.00	10.00	10.00	10.00	10.00	10.00	10.00	10.00	10.00	10.00

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
	-12	1	-14	-15	10	14	4	-2	21	10
Cash from Investing	-1	-0	-0	1	-0	-1	0	0	0	-4
Cash from Financing	13	3	12	15	-9	-15	-4	2	-22	-4
	-0	4	-3	1	1	-2	0	-0	-1	2
Free Cash Flow	-23	1	-15	-15	9	14	4	-2	21	5
OCF / Net Profit	-8.51	0.24	-4.78	-4.69	3.35	4.38	1.47	-0.94	8.77	3.01
Cumulative 5-Year FCF	0	0	0	0	-42	-5	-2	11	46	42

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
PER SHARE
EPS (₹)	2.21	3.12	2.33	2.41	1.71	1.90	1.64	1.20	1.37	1.98
Book Value (₹)	83.04	43.82	46.21	48.01	37.72	39.63	41.27	42.47	43.84	45.82
Dividend per Share (₹)	1.00	0.60	0.50	0.00	0.00	0.00	0.00	0.00	0.00	0.50
Cash EPS (₹)	1.46	2.81	2.25	2.21	2.16	2.35	2.05	1.53	1.81	2.54
PROFITABILITY
Operating Margin %	19.43%	28.34%	20.63%	20.75%	22.55%	18.29%	16.10%	12.59%	12.05%	8.15%
Net Margin %	8.75%	16.89%	10.90%	10.34%	9.56%	8.12%	6.74%	4.64%	4.98%	6.25%
ROE %	2.68%	7.31%	5.19%	5.11%	4.63%	4.92%	4.06%	2.87%	3.18%	4.42%
ROCE %	2.41%	6.13%	4.61%	4.60%	4.86%	5.54%	5.36%	4.40%	4.60%	6.37%
	1.13%	2.74%	1.81%	1.72%	1.55%	1.75%	1.62%	1.28%	1.57%	2.40%
EFFICIENCY
Debtor Days	396	257	176	175	164	149	201	238	258	205
Inventory Days	1351	1263	1353	1355	1393	1002	856	703	542	387
Payable Days	329	121	594	296	342	117	90	35	35	44
	1418	1399	935	1233	1215	1034	968	906	766	548
FINANCIAL HEALTH
Debt to Equity (x)	0.72x	0.72x	0.88x	1.09x	0.91x	0.65x	0.58x	0.60x	0.28x	0.21x
Interest Coverage (x)	3.83x	9.38x	4.24x	3.03x	2.54x	2.43x	2.30x	1.99x	2.28x	2.94x
	1.87x	1.65x	2.17x	1.89x	2.00x	1.75x	1.95x	2.67x	2.13x	2.29x
GROWTH
Revenue Growth %	-58.11%	46.19%	15.92%	8.74%	2.34%	31.01%	3.92%	6.49%	6.22%	15.10%
Operating Profit Growth %	-14.15%	113.24%	-15.63%	9.42%	11.20%	6.23%	-8.49%	-16.77%	1.71%	24.50%
Net Profit Growth %	-3.40%	182.20%	-25.19%	3.22%	-5.46%	11.33%	-13.72%	-26.79%	14.12%	44.52%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	44.52%
VALUATION
P/E (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	75.46x
P/B (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	3.26x
Dividend Yield %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.33%
	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	38.16x

Shareholding Pattern

Numbers in percentages

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	73.86	73.86	73.86	73.86	73.86	73.86	73.86	73.86	73.86
FIIs	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	0.21	0.21	0.21	0.21	0.21	0.21	0.21	0.21	0.21
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	25.93	25.93	25.93	25.93	25.93	25.93	25.93	25.93	25.93

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

No announcements filed.

News

Recent coverage and analyst commentary for ALPINEHOU

Loading news…

🤖

AI Stock Analyst

Alpine Housing Development Corporation Ltd.

🔒

Sign in to Chat with AI

✨ Sign In to Chat

Free 5nance Account