Pansari Developers Ltd.
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ABOUT
AI Sector View
AI GENERATEDRealty
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.
PROS
- Company has delivered good profit growth of 22.2% CAGR over last 5 years
- Operating margins have improved to 31.5% from 13.4%
- Company has consistently been profitable over the last 5 years
- Attractively priced for its growth - PEG of 1.0
CONS
- Operating cash flow has been negative in recent years
- A large part of profit comes from other income (48.5% of PBT)
- Company has a low return on capital employed of 4.4%
- Company has a low return on equity of 3.9% over last 3 years
- Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT -1.82x)
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| DLF | 681.00 | 37.92 | 168568.73 | 1.17 | 793.90 | -89.59 | 1280.34 | -52.87 | 6.81 | 49.68 |
| LODHA | 1220.60 | 29.56 | 121965.19 | 0.35 | 1373.10 | 103.39 | 4996.70 | 43.10 | 16.89 | 38.51 |
| PHOENIXLTD | 1960.00 | 54.77 | 70104.86 | 0.13 | 394.51 | 22.95 | 1074.94 | 12.80 | 13.70 | 59.77 |
| PRESTIGE | 1625.00 | 61.46 | 69993.66 | 0.12 | 271.40 | -12.87 | 2675.10 | 15.94 | 11.51 | 31.75 |
| OBEROIRLTY | 1904.60 | 26.33 | 69251.68 | 0.42 | 543.51 | 29.02 | 1300.89 | 31.73 | 17.69 | 56.75 |
| GODREJPROP | 1986.60 | 37.40 | 59841.66 | 0.50 | 349.38 | -41.61 | 506.17 | 16.48 | 8.37 | -57.98 |
| BRIGADE | 712.95 | 33.47 | 23260.66 | 0.21 | 216.94 | 37.35 | 1115.55 | -12.93 | 11.02 | 32.33 |
| ANANTRAJ | 628.50 | 39.09 | 22618.27 | 0.16 | 149.19 | 18.50 | 631.40 | 6.58 | 12.23 | 29.53 |
| ABREL | 1376.10 | 116.21 | 15370.44 | 0.18 | -34.59 | -27.73 | 188.85 | 30.95 | -4.54 | -30.02 |
| SOBHA | 1254.70 | 58.18 | 13419.50 | 0.48 | 50.85 | 273.37 | 1278.15 | 50.03 | 6.96 | 6.07 |
| SIGNATURE | 793.70 | 10.70 | 11166.25 | 0.00 | -16.53 | -148.00 | 551.99 | -36.24 | 34.77 | -8.10 |
| PANSARI | 300.00 | 26.31 | 523.40 | 0.00 | 39.82 | 861.37 | 146.48 | 725.61 | 6.39 | 25.92 |
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 5 | 8 | 6 | 30 | 12 | 8 | 9 | 21 | 19 | 18 | 37 | 14 | 15 | |
| 3 | 6 | 5 | 27 | 11 | 5 | 7 | 15 | 12 | 12 | 32 | 14 | 12 | |
| Operating Profit | 1 | 2 | 1 | 3 | 1 | 2 | 2 | 6 | 7 | 6 | 5 | -0 | 3 |
| OPM % | 25.93% | 24.88% | 21.63% | 10.82% | 6.06% | 30.80% | 21.22% | 27.51% | 36.13% | 31.74% | 14.67% | -2.36% | 18.56% |
| 1 | 1 | 1 | 1 | 2 | 1 | 1 | 3 | 2 | 1 | 2 | 13 | 2 | |
| Interest | 1 | 1 | 1 | 1 | 1 | 1 | 1 | 3 | 1 | 1 | 1 | 2 | 1 |
| Depreciation | 0 | 0 | 0 | 0 | 1 | 1 | 1 | 3 | 0 | 1 | 1 | 1 | 1 |
| Profit before Tax | 1 | 1 | 1 | 3 | 2 | 1 | 1 | 3 | 7 | 5 | 6 | 10 | 5 |
| Tax % | 29.41% | 20.95% | 14.58% | 22.18% | 1.97% | 20.17% | 23.53% | 21.27% | 26.77% | 20.99% | 26.05% | 18.48% | 23.57% |
| Net Profit | 0 | 0 | 0 | 0 | 1 | 1 | 1 | 3 | 5 | 4 | 4 | 8 | 4 |
| 0.28 | 0.47 | 0.47 | 1.19 | 0.86 | 0.54 | 0.52 | 1.21 | 3.09 | 2.37 | 2.43 | 4.73 | 2.28 |
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 7 | 3 | 6 | 10 | 35 | 36 | 60 | 23 | 56 | 40 | 83 | |
| 2 | 1 | 3 | 8 | 28 | 27 | 53 | 19 | 49 | 27 | 70 | |
| Operating Profit | 4 | 2 | 3 | 2 | 7 | 9 | 8 | 5 | 7 | 13 | 13 |
| OPM % | 62.70% | 58.22% | 52.33% | 17.78% | 20.80% | 25.47% | 12.81% | 19.65% | 12.94% | 31.54% | 16.22% |
| 1 | 1 | 3 | 4 | 1 | 1 | 0 | 1 | 5 | 5 | 19 | |
| Interest | 2 | 1 | 2 | 2 | 3 | 4 | 1 | 1 | 4 | 4 | 4 |
| Depreciation | 0 | 0 | 1 | 1 | 1 | 1 | 2 | 2 | 2 | 3 | 2 |
| Profit before Tax | 3 | 2 | 4 | 2 | 4 | 5 | 5 | 3 | 6 | 10 | 26 |
| Tax % | 18.77% | 23.81% | 22.17% | 20.69% | 27.10% | 24.08% | 25.08% | 25.97% | 15.91% | 25.29% | 21.64% |
| Net Profit | 3 | 1 | 3 | 2 | 3 | 4 | 4 | 2 | 5 | 8 | 21 |
| EPS | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 2.15 | 2.09 | 1.15 | 2.98 | 4.30 | — |
| Dividend Payout % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- 15%
- 5 Years:
- 3%
- 3 Years:
- -13%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- 4%
- 5 Years:
- 22%
- 3 Years:
- 27%
STOCK PRICE CAGR
- 10 Years:
- —
- 5 Years:
- 40%
- 3 Years:
- 39%
- 1 Year:
- 9%
RETURN ON EQUITY
- 10 Years:
- 4%
- 5 Years:
- 4%
- 3 Years:
- 4%
- Last Year:
- 6%
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 2 | 17 | 17 | 17 | 17 | 17 | 17 | 17 | 17 | 17 |
| 38 | 35 | 38 | 40 | 42 | 93 | 102 | 104 | 109 | 117 | |
| 53 | 80 | 74 | 81 | 81 | 80 | 69 | 95 | 101 | 114 | |
| Trade Payables | 3 | 5 | 4 | 4 | 3 | 2 | 1 | 3 | 4 | 2 |
| 39 | 56 | 77 | 81 | 65 | 50 | 29 | 66 | 92 | 158 | |
| Total Liabilities | 136 | 193 | 210 | 224 | 209 | 242 | 219 | 286 | 323 | 409 |
| 1 | 1 | 14 | 13 | 22 | 44 | 42 | 42 | 60 | 59 | |
| 11 | 11 | 10 | 13 | 10 | 3 | 9 | 9 | 9 | 9 | |
| 81 | 116 | 137 | 149 | 133 | 133 | 103 | 120 | 108 | 163 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 14 | 7 | |
| Cash & Bank | 2 | 1 | 1 | 2 | 1 | 2 | 1 | 1 | 3 | 2 |
| 41 | 64 | 48 | 47 | 42 | 59 | 63 | 115 | 129 | 169 | |
| Total Assets | 136 | 193 | 210 | 224 | 209 | 242 | 219 | 286 | 323 | 409 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| -15 | -28 | 9 | 5 | 6 | 21 | 11 | -20 | 11 | -16 | |
| Cash from Investing | 9 | -22 | -11 | -4 | -5 | -4 | 0 | -5 | -10 | 5 |
| Cash from Financing | 7 | 51 | 2 | -1 | 0 | -15 | -11 | 27 | 0 | 11 |
| 1 | -1 | 0 | 0 | -0 | 1 | -1 | -0 | 2 | -0 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|
| PER SHARE | ||||||||||
| EPS (₹) | 12.34 | 0.70 | 1.85 | 1.12 | 1.58 | 2.15 | 2.09 | 1.15 | 2.98 | 4.30 |
| Book Value (₹) | 189.94 | 29.80 | 31.64 | 32.76 | 34.34 | 63.54 | 68.41 | 69.60 | 72.59 | 76.94 |
| Dividend per Share (₹) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Cash EPS (₹) | 2.26 | 0.89 | 2.18 | 1.77 | 2.26 | 2.84 | 3.13 | 2.22 | 4.09 | 6.12 |
| PROFITABILITY | ||||||||||
| Operating Margin % | 83.84% | 104.26% | 105.86% | 56.97% | 22.69% | 27.12% | 13.43% | 23.15% | 12.94% | 31.54% |
| Net Margin % | 40.37% | 42.29% | 51.49% | 19.36% | 7.92% | 10.41% | 6.04% | 8.67% | 9.22% | 18.76% |
| ROE % | 6.55% | 2.65% | 6.02% | 3.47% | 4.71% | 4.40% | 3.16% | 1.67% | 4.20% | 5.75% |
| ROCE % | 9.66% | 3.19% | 5.26% | 3.74% | 5.15% | 5.61% | 3.62% | 1.86% | 5.09% | 6.39% |
| 2.20% | 0.75% | 1.60% | 0.90% | 1.27% | 1.67% | 1.58% | 0.80% | 1.71% | 2.05% | |
| EFFICIENCY | ||||||||||
| Debtor Days | 166 | 727 | 339 | 196 | 55 | 48 | 25 | 46 | 58 | 97 |
| Inventory Days | 3807 | 0 | 7361 | 5189 | 1481 | 1345 | 716 | 1755 | 736 | 1237 |
| Payable Days | -150 | -41 | 684 | 182 | 45 | 31 | 11 | 45 | 27 | 49 |
| 4123 | 768 | 7016 | 5204 | 1491 | 1363 | 730 | 1756 | 767 | 1286 | |
| FINANCIAL HEALTH | ||||||||||
| Debt to Equity (x) | 0.43x | 1.14x | 1.16x | 1.22x | 1.23x | 0.56x | 0.45x | 0.67x | 0.68x | 0.75x |
| Interest Coverage (x) | 2.65x | 2.47x | 3.17x | 2.15x | 2.29x | 2.36x | 4.46x | 4.43x | 2.41x | 3.36x |
| 1.90x | 1.34x | 1.31x | 1.45x | 1.47x | 1.49x | 1.46x | 1.24x | 1.12x | 1.13x | |
| GROWTH | ||||||||||
| Revenue Growth % | -34.61% | -55.63% | 116.21% | 60.57% | 245.94% | 3.74% | 66.90% | -61.52% | 143.67% | -29.23% |
| Operating Profit Growth % | -14.89% | -44.82% | 119.53% | -13.58% | 37.75% | 24.01% | -17.33% | -33.69% | 132.99% | 39.76% |
| Net Profit Growth % | -47.71% | -53.51% | 163.22% | -39.63% | 41.49% | 36.34% | -3.06% | -44.79% | 158.99% | 44.04% |
| 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 158.98% | 44.04% | |
| VALUATION | ||||||||||
| P/E (x) | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 26.74x | 37.25x |
| P/B (x) | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 1.10x | 2.08x |
| Dividend Yield % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 17.81x | 21.64x |
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-08-24 - Pansari Developers Limited has informed the Exchange about General Updates
2026-08-14 - Pansari Developers Limited has informed the Exchange about Copy of Newspaper Publication
2026-08-13 - Pansari Developers Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.
2026-07-14 - The Exchange had sought clarification from Pansari Developers Limited for the quarter ended 31-Mar-2026 with respect to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. On basis of above the Company was required to clarify the following: The response of the Company is enclosed.
2026-07-10 - Pansari Developers Limited has informed the Exchange about Certificate under SEBI (Depositories and Participants) Regulations, 2018
2026-06-25 - Pansari Developers Limited has informed the Exchange regarding the Trading Window closure pursuant to SEBI (Prohibition of Insider Trading) Regulations, 2015
2026-06-24 - The Exchange has sought clarification from Pansari Developers Limited for the quarter ended 31-Mar-2026 with respect to Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. On basis of above the Company is required to clarify the following: The response of the Company is awaited.
2026-06-19 - Pansari Developers Limited has Submitted to the Exchange a copy of Disclosure under Regulation 31(4) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.
2026-06-01 - Pansari Developers Limited has informed the Exchange about Copy of Newspaper Publication
News
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