Valuation Update With 7 Day Price Move • Jun 29
Investor sentiment improves as stock rises 25% After last week's 25% share price gain to ₹50.20, the stock trades at a trailing P/E ratio of 20x. Average trailing P/E is 25x in the Real Estate industry in India. Total returns to shareholders of 210% over the past three years. New Risk • May 29
New major risk - Financial position The company's debt is not well covered by operating cash flow. Currently running at an operating cash loss. This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Share price has been highly volatile over the past 3 months (16% average weekly change). Negative equity (-₹2.3m). High level of non-cash earnings (22% accrual ratio). Revenue is less than US$1m. Market cap is less than US$10m (₹214.5m market cap, or US$2.24m). Aankondiging • May 13
IITL Projects Limited to Report Q4, 2026 Results on May 22, 2026 IITL Projects Limited announced that they will report Q4, 2026 results at 12:15 PM, Indian Standard Time on May 22, 2026 Aankondiging • Jan 21
IITL Projects Limited to Report Q3, 2026 Results on Feb 03, 2026 IITL Projects Limited announced that they will report Q3, 2026 results on Feb 03, 2026 New Risk • Nov 19
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: -11,531% Last year net profit margin: 1,224% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Share price has been highly volatile over the past 3 months (10% average weekly change). Negative equity (-₹11m). Revenue is less than US$1m. Market cap is less than US$10m (₹242.1m market cap, or US$2.74m). Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (-11,531% net profit margin). Aankondiging • Nov 04
IITL Projects Limited to Report Q2, 2026 Results on Nov 12, 2025 IITL Projects Limited announced that they will report Q2, 2026 results on Nov 12, 2025 New Risk • Aug 21
New major risk - Financial position The company's debt is not well covered by operating cash flow. Currently running at an operating cash loss. This is considered a major risk. If the company's operating cash flows are too small relative to the size of their debt, it increases their balance sheet risk. The company has less cash from operations to cover its expenses from servicing large debt and it increases the risk of liquidity issues. It also extends the time it would take for the company to pay back the debt in full, meaning it may not be able to easily pay it all off in a distress scenario. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Share price has been highly volatile over the past 3 months (9.3% average weekly change). Negative equity (-₹15m). High level of non-cash earnings (436% accrual ratio). Revenue is less than US$1m (₹2.1m revenue, or US$24k). Market cap is less than US$10m (₹289.0m market cap, or US$3.31m). Reported Earnings • Aug 20
Full year 2025 earnings released: EPS: ₹63.06 (vs ₹45.16 in FY 2024) Full year 2025 results: EPS: ₹63.06 (up from ₹45.16 in FY 2024). Net income: ₹314.7m (up 40% from FY 2024). Over the last 3 years on average, earnings per share has increased by 42% per year but the company’s share price has increased by 51% per year, which means it is tracking significantly ahead of earnings growth. Aankondiging • Aug 14
IITL Projects Limited, Annual General Meeting, Sep 13, 2025 IITL Projects Limited, Annual General Meeting, Sep 13, 2025, at 12:00 Indian Standard Time. Valuation Update With 7 Day Price Move • Aug 14
Investor sentiment deteriorates as stock falls 20% After last week's 20% share price decline to ₹52.73, the stock trades at a trailing P/E ratio of 19x. Average trailing P/E is 34x in the Real Estate industry in India. Total returns to shareholders of 218% over the past three years. Aankondiging • Aug 02
IITL Projects Limited to Report Q1, 2026 Results on Aug 06, 2025 IITL Projects Limited announced that they will report Q1, 2026 results on Aug 06, 2025 New Risk • Jul 10
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Indian stocks, typically moving 8.5% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (8.5% average weekly change). Negative equity (-₹356m). Revenue is less than US$1m (₹13m revenue, or US$157k). Market cap is less than US$10m (₹322.0m market cap, or US$3.76m). Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (103% net profit margin). New Risk • Jun 10
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Indian stocks, typically moving 8.2% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Negative equity (-₹356m). Revenue is less than US$1m (₹13m revenue, or US$157k). Market cap is less than US$10m (₹325.8m market cap, or US$3.81m). Minor Risks Share price has been volatile over the past 3 months (8.2% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (103% net profit margin). Valuation Update With 7 Day Price Move • Jun 06
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₹58.76, the stock trades at a trailing P/E ratio of 21.1x. Average trailing P/E is 32x in the Real Estate industry in India. Total returns to shareholders of 213% over the past three years. Valuation Update With 7 Day Price Move • Mar 28
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ₹62.00, the stock trades at a trailing P/E ratio of 22.3x. Average trailing P/E is 32x in the Real Estate industry in India. Total returns to shareholders of 252% over the past three years. Aankondiging • Mar 22
IITL Projects Limited Announces Resignation of Sahil Agarwal as Additional Director IITL Projects Limited informed that Mr. Sahil Agarwal has tendered his resignation as an Additional Director from the Board of the Company with effect from March 17, 2025 due to personal and unavoidable circumstances. Reported Earnings • Feb 06
Third quarter 2025 earnings released: ₹2.42 loss per share (vs ₹41.96 profit in 3Q 2024) Third quarter 2025 results: ₹2.42 loss per share (down from ₹41.96 profit in 3Q 2024). Net loss: ₹12.1m (down 106% from profit in 3Q 2024). Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has increased by 50% per year, which means it is tracking significantly ahead of earnings growth. Aankondiging • Feb 04
IITL Projects Limited Approves Appointment of Sahil Agarwal as an Additional Director IITL Projects Limited informed that the Board of Directors of the Company at its Meeting held on February 04, 2025, considered and approved the following: Appointment of Mr. Sahil Agarwal, as an Additional Director on the Board of the Company effective from February 04, 2025. Date of Appointment: February 04, 2025; Term of Appointment: Upto the Next Annual General Meeting of the Company. Mr. Sahil Agarwal is a passionate and enthusiastic marketer with professional experience of 6 years. He holds the degree of Graduation from Hult International Business School London with a major in MIB. He has a broad knowledge of the international market. Reported Earnings • Nov 09
Second quarter 2025 earnings released: ₹2.59 loss per share (vs ₹3.51 loss in 2Q 2024) Second quarter 2025 results: ₹2.59 loss per share (improved from ₹3.51 loss in 2Q 2024). Net loss: ₹12.9m (loss narrowed 26% from 2Q 2024). Over the last 3 years on average, earnings per share has increased by 53% per year but the company’s share price has only increased by 46% per year, which means it is significantly lagging earnings growth. Aankondiging • Sep 03
IITL Projects Limited, Annual General Meeting, Sep 25, 2024 IITL Projects Limited, Annual General Meeting, Sep 25, 2024, at 12:00 Indian Standard Time. Reported Earnings • Aug 15
First quarter 2025 earnings released: ₹2.10 loss per share (vs ₹3.18 loss in 1Q 2024) First quarter 2025 results: ₹2.10 loss per share (improved from ₹3.18 loss in 1Q 2024). Net loss: ₹10.5m (loss narrowed 34% from 1Q 2024). Over the last 3 years on average, earnings per share has increased by 62% per year but the company’s share price has only increased by 31% per year, which means it is significantly lagging earnings growth. Aankondiging • Aug 04
IITL Projects Limited to Report Q1, 2025 Results on Aug 13, 2024 IITL Projects Limited announced that they will report Q1, 2025 results on Aug 13, 2024 Aankondiging • Jun 19
IITL Projects Limited Announces Appointment of Sagar Jaiswal as Chief Financial Officer, Effective June 25, 2024 IITL Projects Limited announced the appointment of Sagar Jaiswal as Chief Financial Officer, Effective June 25, 2024. Mr. Sagar Jaiswal is a Member of Institute of Chartered Accountants of India (C.A). He has more than nine years of experience in Finance & Accounts. He has worked with Jio Platforms Limited and Citicorp India Private Limited. Reported Earnings • Jun 04
Full year 2024 earnings released: EPS: ₹45.16 (vs ₹6.00 loss in FY 2023) Full year 2024 results: EPS: ₹45.16 (up from ₹6.00 loss in FY 2023). Net income: ₹225.4m (up ₹255.3m from FY 2023). Over the last 3 years on average, earnings per share has increased by 66% per year but the company’s share price has only increased by 18% per year, which means it is significantly lagging earnings growth. Aankondiging • May 19
IITL Projects Limited to Report Fiscal Year 2024 Results on May 27, 2024 IITL Projects Limited announced that they will report fiscal year 2024 results on May 27, 2024 Aankondiging • Mar 22
IITL Projects Limited Announces Resignation of Bhavin M. Zaveri as Chief Financial Officer, Effective March 31, 2024 IITL Projects Limited announced that Mr. Bhavin M. Zaveri - Chief Financial Officer and Key Managerial Personnel of the Company, vide letter dated March 15, 2024 has tendered his resignation for better opportunity. The same was accepted by the Management and he shall stand relieved from his duties effective end of business hours of March 31, 2024. Reported Earnings • Feb 14
Third quarter 2024 earnings released: EPS: ₹41.96 (vs ₹1.47 loss in 3Q 2023) Third quarter 2024 results: EPS: ₹41.96 (up from ₹1.47 loss in 3Q 2023). Net income: ₹209.4m (up ₹216.8m from 3Q 2023). Over the last 3 years on average, earnings per share has increased by 59% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Aankondiging • Dec 20
IITL Projects Limited Approves Appointment of Bhavin M. Zaveri as Chief Financial Officer, Effective December 20, 2023 IITL Projects Limited at its board meeting held on December 20, 2023, approved appointment of Mr. Bhavin M. Zaveri as Chief Financial Officer and Key Managerial Personnel of the Company effective December 20, 2023. Mr. Bhavin Zaveri is a Fellow Member of The Institute of Chartered Accountants of India (F.C.A). He has also completed CPA from Montana State Board of Accountancy (United States of America) in January' 2022 and a course on IFRS conducted by ICAI. He has more than 20 years of experience in finalization of accounts as per Indian GAAP, Budgeting, MIS reporting, statutory compliances etc. Reported Earnings • Nov 08
Second quarter 2024 earnings released: ₹3.51 loss per share (vs ₹3.00 loss in 2Q 2023) Second quarter 2024 results: ₹3.51 loss per share (further deteriorated from ₹3.00 loss in 2Q 2023). Revenue: ₹7.48m (up 364% from 2Q 2023). Net loss: ₹17.5m (loss widened 17% from 2Q 2023). Over the last 3 years on average, earnings per share has increased by 53% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. Aankondiging • Oct 17
Nimbus Projects Limited (BSE:511714) completed the acquisition of unknown stake in Iitl Nimbus The Palm Village from IITL Projects Limited (BSE:531968). Nimbus Projects Limited (BSE:511714) entered into an agreement to acquire unknown stake in Iitl Nimbus The Palm Village from IITL Projects Limited (BSE:531968) for INR 220 million on August 18, 2023. The board of IITL approved the deal. The transaction is conditional on prior approval of shareholders of IITL Projects and is expected to close on or before March 31, 2024.Nimbus Projects Limited (BSE:511714) completed the acquisition of unknown stake in Iitl Nimbus The Palm Village from IITL Projects Limited (BSE:531968) on October 16, 2023. IITL Projects executed Tripartite Agreement with Nimbus Projects Limited and IITL Nimbus The Palm Village and Supplementary Deed of Admission cum Retirement with Nimbus Projects Limited and Nimbus Propmart Private Limited, whereby IITL Projects Limited is the retiring partner. Aankondiging • Aug 30
IITL Projects Limited, Annual General Meeting, Sep 22, 2023 IITL Projects Limited, Annual General Meeting, Sep 22, 2023, at 12:00 Indian Standard Time. Agenda: To receive, consider and adopt the Audited Financial Statements including Audited Consolidated Financial Statements of the Company for the financial year ended March 31, 2023 together with the Reports of the Board of Directors and Auditors thereon; to appoint a Director in place of Mr. Bipin Agarwal who retires by rotation at this Annual General Meeting and being eligible, offers himself for re-appointment; and to discuss other matters. Reported Earnings • Aug 13
First quarter 2024 earnings released: ₹3.18 loss per share (vs ₹0.05 loss in 1Q 2023) First quarter 2024 results: ₹3.18 loss per share (further deteriorated from ₹0.05 loss in 1Q 2023). Net loss: ₹15.8m (loss widened ₹15.6m from 1Q 2023). Over the last 3 years on average, earnings per share has increased by 63% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Aankondiging • Aug 04
IITL Projects Limited to Report Q1, 2024 Results on Aug 11, 2023 IITL Projects Limited announced that they will report Q1, 2024 results on Aug 11, 2023 Aankondiging • May 27
IITL Projects Limited Appoints Shivani Kawle as Company Secretary & Compliance Officer and Key Managerial Personnel IITL Projects Limited at its board meeting held on May 26, 2023, appointed Ms. Shivani Kawle as Company Secretary & Compliance Officer and Key Managerial Personnel of the Company. Aankondiging • May 20
IITL Projects Limited to Report Q4, 2023 Results on May 26, 2023 IITL Projects Limited announced that they will report Q4, 2023 results on May 26, 2023 Aankondiging • Feb 14
IITL Projects Limited Resignation of Poonam Gupta as Manager and Company Secretary IITL Projects Limited announced that Ms. Poonam Gupta, Manager & Company Secretary of the Company has tendered her resignation effective from the close of the business hours on February 14,2023. Aankondiging • Feb 01
IITL Projects Limited to Report Q3, 2023 Results on Feb 13, 2023 IITL Projects Limited announced that they will report Q3, 2023 results on Feb 13, 2023 Board Change • Nov 17
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 1 experienced director. 4 highly experienced directors. Independent Woman Director Sujata Chattopadhyay was the last director to join the board, commencing their role in 2017. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Aankondiging • Sep 02
IITL Projects Limited, Annual General Meeting, Sep 24, 2022 IITL Projects Limited, Annual General Meeting, Sep 24, 2022, at 12:00 Indian Standard Time. Agenda: To receive, consider and adopt the Audited Financial Statements including Audited Consolidated Financial Statements of the Company for the financial year ended March 31, 2022 together with the Reports of the Board of Directors and Auditors thereon; to appoint a Director in place of Dr. B. Samal (DIN: 00007256), who retires by rotation at this Annual General Meeting and being eligible, offers himself for re-appointment; to re-appoint of Statutory Auditors of the Company; and to discuss other matters. Aankondiging • Aug 02
IITL Projects Limited to Report Q1, 2023 Results on Aug 11, 2022 IITL Projects Limited announced that they will report Q1, 2023 results at 3:30 PM, Indian Standard Time on Aug 11, 2022 Reported Earnings • May 30
Full year 2022 earnings released: EPS: ₹21.35 (vs ₹33.61 loss in FY 2021) Full year 2022 results: EPS: ₹21.35 (up from ₹33.61 loss in FY 2021). Net income: ₹106.6m (up ₹274.3m from FY 2021). Aankondiging • May 18
IITL Projects Limited to Report Q4, 2022 Results on May 27, 2022 IITL Projects Limited announced that they will report Q4, 2022 results on May 27, 2022 Board Change • Apr 27
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 1 experienced director. 4 highly experienced directors. Independent Woman Director Sujata Chattopadhyay was the last director to join the board, commencing their role in 2017. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Feb 11
Third quarter 2022 earnings: Revenues and EPS in line with analyst expectations Third quarter 2022 results: EPS: ₹36.57 (up from ₹8.80 loss in 3Q 2021). Net income: ₹182.5m (up ₹226.4m from 3Q 2021). Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 40% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Reported Earnings • Nov 11
Second quarter 2022 earnings released: ₹5.36 loss per share (vs ₹10.38 loss in 2Q 2021) Second quarter 2022 results: Net loss: ₹26.8m (loss narrowed 48% from 2Q 2021). Board Change • Nov 08
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 3 highly experienced directors. Independent Woman Director Sujata Chattopadhyay was the last director to join the board, commencing their role in 2017. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Reported Earnings • Jun 26
Full year 2021 earnings released: ₹33.61 loss per share (vs ₹35.87 loss in FY 2020) Full year 2021 results: Net loss: ₹167.7m (loss narrowed 6.3% from FY 2020). Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has increased by 13% per year, which means it is tracking significantly ahead of earnings growth. Is New 90 Day High Low • Mar 12
New 90-day high: ₹28.25 The company is up 12% from its price of ₹25.30 on 11 December 2020. The Indian market is up 15% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Real Estate industry, which is up 23% over the same period. Reported Earnings • Feb 13
Third quarter 2021 earnings released: ₹8.80 loss per share (vs ₹5.07 loss in 3Q 2020) Third quarter 2021 results: Net loss: ₹43.9m (loss widened 74% from 3Q 2020). Over the last 3 years on average, earnings per share has remained flat but the company’s share price has increased by 12% per year, which means it is well ahead of earnings. Aankondiging • Feb 01
IITL Projects Limited to Report Nine Months, 2021 Results on Feb 11, 2021 IITL Projects Limited announced that they will report nine months, 2021 results on Feb 11, 2021 Aankondiging • Nov 11
IITL Projects Limited, Annual General Meeting, Dec 04, 2020 IITL Projects Limited, Annual General Meeting, Dec 04, 2020, at 14:30 Indian Standard Time. Agenda: To receive, consider and adopt the Audited Financial Statements including Audited Consolidated Financial Statements of the Company for the financial year ended March 31, 2020 together with the Reports of the Board of Directors and Auditors thereon; to appoint a Director in place of Dr. B. Samal who retires by rotation at this Annual General Meeting and being eligible, offers himself for re-appointment; to consider the appointment of Ajay Dey as manager; to discuss the Approval of Related Party Transaction; and to discuss other matters. Aankondiging • Aug 19
IITL Projects Limited to Report Q1, 2021 Results on Aug 27, 2020 IITL Projects Limited announced that they will report Q1, 2021 results on Aug 27, 2020 Aankondiging • Jun 17
IITL Projects Limited to Report Q4, 2020 Results on Jun 25, 2020 IITL Projects Limited announced that they will report Q4, 2020 results on Jun 25, 2020 
