Shraddha Prime Projects Ltd.

•

shraddhaprimeprojects.inBSE: -NSE: SHRADDHA

Market Cap₹ 630 Cr.

Current Price

High / Low₹ 179 / 142

Stock P/E9.8

Book Value₹ 37

Price to Book7.64

Dividend Yield0.00 %

ROCE21.2 %

ROE38.0 %

Face Value₹ 10

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ABOUT

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%

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PROS

Company has a good return on equity (ROE) track record: 3 Years ROE 21.0%
Operating margins have improved to 19.4% from -443.9%
Latest quarter profit grew 118.1% YoY, showing strong momentum
Company comfortably covers its interest (92.9x coverage)

CONS

Operating cash flow has been negative in recent years
A large part of profit comes from other income (34.8% of PBT)
Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT -3.32x)
Company has a low return on capital employed of 9.2%
Contingent liabilities are large at 107.8% of net worth
Free cash flow has been persistently negative

* 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	681.20	37.93	168618.23	1.17	793.90	-89.59	1280.34	-52.87	6.81	49.68
2.	LODHA	1214.40	29.41	121345.67	0.35	1373.10	103.39	4996.70	43.10	16.89	38.51
3.	PHOENIXLTD	1940.40	54.22	69403.81	0.13	394.51	22.95	1074.94	12.80	15.41	59.77
4.	PRESTIGE	1608.00	60.81	69261.42	0.12	271.40	-12.87	2675.10	15.94	11.51	31.75
5.	OBEROIRLTY	1875.00	25.93	68175.42	0.43	543.51	29.02	1300.89	31.73	17.69	56.75
6.	GODREJPROP	1990.00	37.46	59944.07	0.50	349.38	-41.61	506.17	16.48	8.37	-57.98
7.	BRIGADE	696.00	32.68	22707.65	0.22	216.94	37.35	1115.55	-12.93	11.02	32.33
8.	ANANTRAJ	624.80	38.86	22485.11	0.16	149.19	18.50	631.40	6.58	12.23	29.53
9.	ABREL	1372.05	115.87	15325.21	0.18	-34.59	-27.73	188.85	30.95	-4.54	-30.02
10.	SOBHA	1259.40	58.40	13469.77	0.48	50.85	273.37	1278.15	50.03	6.96	6.07
11.	SIGNATURE	796.95	10.74	11211.97	0.00	-16.53	-148.00	551.99	-36.24	34.77	-8.10
12.	SHRADDHA	155.90	9.71	629.85	0.00	19.28	115.35	133.58	127.56	16.46	18.30

Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	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
	0	0	261	17	22	223	269	32	33	106	85	105	108
	1	4	164	24	17	178	215	26	28	82	67	87	85
Operating Profit	-1	-4	97	-6	5	45	54	6	6	24	18	18	23
OPM %	—	—	37.27%	-37.33%	21.63%	20.22%	20.23%	17.35%	16.59%	22.31%	21.20%	17.38%	21.28%
	0	1	0	5	-2	40	49	3	5	-8	0	11	3
Interest	0	0	0	0	0	0	0	0	0	0	-0	0	0
Depreciation	0	0	0	0	0	0	0	0	0	0	0	0	0
Profit before Tax	-1	-3	97	-2	3	85	103	8	11	16	18	30	26
Tax %	-0.00%	-0.00%	18.27%	38.27%	45.55%	14.47%	12.23%	20.00%	17.54%	44.08%	28.14%	22.04%	25.88%
Net Profit	-1	-3	80	-1	2	73	91	7	9	9	13	23	19
	-0.20	-0.16	3.94	-0.55	0.79	3.60	4.46	2.82	2.19	2.17	3.31	22.69	4.78

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
	0	0	0	0	0	0	0	0	43	103	404
	0	0	4	0	0	0	0	1	40	83	321
Operating Profit	-0	-0	-4	-0	-0	-0	-0	-1	3	20	83
OPM %	-44.88%	-225.86%	-4106.80%	-468.59%	-702.41%	-732.67%	-533.22%	—	6.57%	19.40%	20.52%
	0	0	1	0	0	0	0	0	5	11	7
Interest	0	0	0	0	0	0	0	0	0	0	0
Depreciation	0	0	0	0	0	0	0	0	0	0	0
Profit before Tax	-0	-0	-3	-0	-0	-0	-0	-1	8	30	90
Tax %	-0.00%	-0.00%	-0.00%	0.12%	-1.20%	-0.00%	-0.00%	26.01%	15.11%	18.24%	28.24%
Net Profit	-0	-0	-3	-0	-0	-0	-0	-1	7	25	64
EPS	-0.16	-0.65	-5.54	-0.50	-0.36	-0.55	-0.68	-1.43	3.23	6.10	—
Dividend Payout %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	6.56%	—

COMPOUNDED SALES GROWTH

10 Years:: 91%
5 Years:: 394%
3 Years:: 1040%

COMPOUNDED PROFIT GROWTH

10 Years:: —
5 Years:: —
3 Years:: —

STOCK PRICE CAGR

10 Years:: —
5 Years:: —
3 Years:: —
1 Year:: —

RETURN ON EQUITY

10 Years:: -49%
5 Years:: 13%
3 Years:: 21%
Last Year:: 38%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Equity Capital	5	5	5	5	5	5	5	5	20	40
	-1	-2	-5	-5	-5	-5	-6	-5	33	37
	0	0	0	0	0	0	20	75	61	92
Trade Payables	0	0	0	0	0	0	0	4	10	15
	2	3	2	2	2	2	2	20	22	87
Total Liabilities	6	6	2	2	1	1	21	98	146	271
	0	0	0	0	0	0	0	0	0	0
	0	0	0	0	0	0	0	20	18	15
	0	0	0	0	0	0	10	70	125	197
	0	0	0	0	0	0	0	0	0	0
Cash & Bank	0	1	1	1	1	1	0	1	1	6
	5	4	0	0	0	0	12	7	3	53
Total Assets	6	6	2	2	1	1	21	98	146	271

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
	-0	1	-2	-0	-0	-0	-20	-35	-36	-30
Cash from Investing	0	-1	2	0	0	0	0	-19	2	5
Cash from Financing	-0	0	0	0	0	0	20	54	34	30
	-0	0	-0	-0	0	-0	-0	1	-0	5

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
PER SHARE
EPS (₹)	-0.16	-0.65	-5.54	-0.50	-0.36	-0.55	-0.68	-1.43	3.23	6.10
Book Value (₹)	4.92	2.28	-0.18	-0.68	-1.05	-1.60	-2.28	-1.19	26.15	19.04
Dividend per Share (₹)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.40
Cash EPS (₹)	-0.05	-0.29	-2.66	-0.24	-0.17	-0.26	-0.33	-0.66	1.63	6.11
PROFITABILITY
Operating Margin %	-43.74%	-209.00%	-2678.97%	-342.04%	-458.83%	-588.66%	-443.86%	0.00%	6.57%	19.40%
Net Margin %	-69.58%	-224.81%	-2680.92%	-345.70%	-472.03%	-592.97%	-443.86%	0.00%	15.10%	23.87%
ROE %	-2.33%	-18.03%	-529.42%	0.00%	0.00%	0.00%	0.00%	0.00%	24.99%	37.98%
ROCE %	-1.79%	-8.37%	-106.51%	-13.38%	-10.94%	-19.45%	-2.78%	-1.71%	8.02%	21.23%
	-1.34%	-5.16%	-65.33%	-13.26%	-10.90%	-19.03%	-2.75%	-1.10%	5.35%	11.80%
EFFICIENCY
Debtor Days	4502	2311	1116	882	428	140	0	0	0	0
Inventory Days	843	520	465	480	721	543	0	0	824	570
Payable Days	62	19	19	90	388	403	-4	-12	-47	-65
	5284	2812	1563	1273	761	280	4	12	872	635
FINANCIAL HEALTH
Debt to Equity (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	23.65x	55.33x	1.12x	1.17x
Interest Coverage (x)	-229.69x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	-16.20x	1167.12x	92.86x
	159.80x	1.24x	141.30x	109.26x	40.15x	52.80x	90.99x	0.81x	1.66x	2.50x
GROWTH
Revenue Growth %	-31.69%	21.79%	-28.38%	-30.33%	-46.34%	20.37%	64.59%	-100.00%	0.00%	138.50%
Operating Profit Growth %	-34.34%	-481.98%	-818.05%	91.11%	28.02%	-54.43%	-24.10%	-153.95%	1085.50%	294.23%
Net Profit Growth %	0.65%	-293.48%	-754.09%	91.02%	26.73%	-51.21%	-23.20%	-111.06%	1100.55%	277.17%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	325.60%	88.59%
VALUATION
P/E (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	25.33x	23.85x
P/B (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	6.27x	7.64x
Dividend Yield %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.27%
	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	50.57x	22.08x

Shareholding Pattern

Numbers in percentages

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	75.00	75.00	75.00	75.00	74.99	74.78	74.78	74.78	74.78
FIIs	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
DIIs	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	25.00	25.00	25.00	25.00	25.01	25.22	25.22	25.22	25.22

Documents

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

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