New Risk • May 31
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: 13% Last year net profit margin: 21% 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 Risk Earnings have declined by 38% per year over the past 5 years. Minor Risks Profit margins are more than 30% lower than last year (13% net profit margin). Revenue is less than US$5m (₹407m revenue, or US$4.3m). Market cap is less than US$100m (₹1.22b market cap, or US$12.8m). New Risk • May 20
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 8.6% 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 Risk Earnings have declined by 34% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (8.6% average weekly change). Revenue is less than US$5m (₹361m revenue, or US$3.7m). Market cap is less than US$100m (₹1.29b market cap, or US$13.3m). Announcement • May 15
Thakkers Developers Limited to Report Q4, 2026 Results on May 29, 2026 Thakkers Developers Limited announced that they will report Q4, 2026 results on May 29, 2026 Buy Or Sell Opportunity • Apr 24
Now 21% undervalued Over the last 90 days, the stock has risen 5.4% to ₹137. The fair value is estimated to be ₹174, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 25% over the last 3 years. Earnings per share has declined by 36%. Valuation Update With 7 Day Price Move • Apr 22
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to ₹138, the stock trades at a trailing P/E ratio of 11.4x. Average trailing P/E is 27x in the Real Estate industry in India. Total loss to shareholders of 1.5% over the past three years. Valuation Update With 7 Day Price Move • Apr 08
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to ₹103, the stock trades at a trailing P/E ratio of 8.4x. Average trailing P/E is 24x in the Real Estate industry in India. Total loss to shareholders of 20% over the past three years. Valuation Update With 7 Day Price Move • Mar 24
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to ₹94.10, the stock trades at a trailing P/E ratio of 7.7x. Average trailing P/E is 23x in the Real Estate industry in India. Total loss to shareholders of 26% over the past three years. New Risk • Mar 20
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: ₹915.8m (US$9.79m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 34% per year over the past 5 years. Market cap is less than US$10m (₹915.8m market cap, or US$9.79m). Minor Risk Revenue is less than US$5m (₹361m revenue, or US$3.9m). Reported Earnings • Feb 16
Third quarter 2026 earnings released: EPS: ₹5.61 (vs ₹0.14 in 3Q 2025) Third quarter 2026 results: EPS: ₹5.61 (up from ₹0.14 in 3Q 2025). Revenue: ₹152.4m (up 116% from 3Q 2025). Net income: ₹50.5m (up ₹49.2m from 3Q 2025). Profit margin: 33% (up from 1.8% in 3Q 2025). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 36% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Announcement • Feb 05
Thakkers Developers Limited to Report Q3, 2026 Results on Feb 14, 2026 Thakkers Developers Limited announced that they will report Q3, 2026 results on Feb 14, 2026 Buy Or Sell Opportunity • Jan 29
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 16% to ₹125. The fair value is estimated to be ₹157, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 25% over the last 3 years. Earnings per share has declined by 61%. Reported Earnings • Nov 16
Second quarter 2026 earnings released: EPS: ₹0.73 (vs ₹3.20 in 2Q 2025) Second quarter 2026 results: EPS: ₹0.73 (down from ₹3.20 in 2Q 2025). Revenue: ₹91.4m (down 36% from 2Q 2025). Net income: ₹6.59m (down 77% from 2Q 2025). Profit margin: 7.2% (down from 20% in 2Q 2025). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 61% per year but the company’s share price has remained flat, which means it is well ahead of earnings. Announcement • Nov 08
Thakkers Developers Limited to Report Q2, 2026 Results on Nov 14, 2025 Thakkers Developers Limited announced that they will report Q2, 2026 results at 12:15 PM, Indian Standard Time on Nov 14, 2025 Valuation Update With 7 Day Price Move • Sep 22
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to ₹150, the stock trades at a trailing P/E ratio of 16.4x. Average trailing P/E is 36x in the Real Estate industry in India. Total loss to shareholders of 27% over the past three years. New Risk • Sep 19
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 8.0% 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 (8.0% average weekly change). Earnings have declined by 25% per year over the past 5 years. Minor Risks Revenue is less than US$5m (₹365m revenue, or US$4.1m). Market cap is less than US$100m (₹1.61b market cap, or US$18.3m). Announcement • Sep 10
Thakkers Developers Limited, Annual General Meeting, Sep 30, 2025 Thakkers Developers Limited, Annual General Meeting, Sep 30, 2025, at 12:00 Indian Standard Time. Reported Earnings • Aug 18
First quarter 2026 earnings released: EPS: ₹1.61 (vs ₹0.37 loss in 1Q 2025) First quarter 2026 results: EPS: ₹1.61 (up from ₹0.37 loss in 1Q 2025). Revenue: ₹89.9m (up 120% from 1Q 2025). Net income: ₹14.4m (up ₹17.8m from 1Q 2025). Profit margin: 16% (up from net loss in 1Q 2025). The move to profitability was driven by higher revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 90 percentage points per year, which is a significant difference in performance. Announcement • Aug 06
Thakkers Developers Limited to Report Q1, 2026 Results on Aug 12, 2025 Thakkers Developers Limited announced that they will report Q1, 2026 results on Aug 12, 2025 New Risk • May 21
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 8.4% 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 Risk Earnings have declined by 14% per year over the past 5 years. Minor Risks Share price has been volatile over the past 3 months (8.4% average weekly change). Profit margins are more than 30% lower than last year (1.3% net profit margin). Revenue is less than US$5m (₹318m revenue, or US$3.7m). Market cap is less than US$100m (₹1.60b market cap, or US$18.7m). Announcement • May 20
Thakkers Developers Limited to Report Q4, 2025 Results on May 29, 2025 Thakkers Developers Limited announced that they will report Q4, 2025 results on May 29, 2025 Reported Earnings • Feb 17
Third quarter 2025 earnings released: EPS: ₹0.14 (vs ₹0.86 in 3Q 2024) Third quarter 2025 results: EPS: ₹0.14 (down from ₹0.86 in 3Q 2024). Revenue: ₹83.1m (up 60% from 3Q 2024). Net income: ₹1.26m (down 84% from 3Q 2024). Profit margin: 1.5% (down from 15% in 3Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 108 percentage points per year, which is a significant difference in performance. Announcement • Feb 06
Thakkers Developers Limited to Report Q3, 2025 Results on Feb 14, 2025 Thakkers Developers Limited announced that they will report Q3, 2025 results on Feb 14, 2025 Reported Earnings • Nov 16
Second quarter 2025 earnings released: EPS: ₹3.20 (vs ₹0.06 in 2Q 2024) Second quarter 2025 results: EPS: ₹3.20 (up from ₹0.06 in 2Q 2024). Revenue: ₹153.4m (up 71% from 2Q 2024). Net income: ₹28.8m (up ₹28.3m from 2Q 2024). Profit margin: 19% (up from 0.6% in 2Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 110 percentage points per year, which is a significant difference in performance. Announcement • Sep 12
Thakkers Developers Limited, Annual General Meeting, Sep 30, 2024 Thakkers Developers Limited, Annual General Meeting, Sep 30, 2024, at 15:00 Indian Standard Time. Reported Earnings • Aug 16
First quarter 2025 earnings released: ₹0.37 loss per share (vs ₹0.54 profit in 1Q 2024) First quarter 2025 results: ₹0.37 loss per share (down from ₹0.54 profit in 1Q 2024). Revenue: ₹49.2m (down 52% from 1Q 2024). Net loss: ₹3.32m (down 168% from profit in 1Q 2024). Over the last 3 years on average, earnings per share has fallen by 62% per year but the company’s share price has increased by 42% per year, which means it is well ahead of earnings. Announcement • Aug 07
Thakkers Developers Limited to Report Q1, 2025 Results on Aug 14, 2024 Thakkers Developers Limited announced that they will report Q1, 2025 results on Aug 14, 2024 New Risk • Jul 24
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 10% 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 Risk Share price has been highly volatile over the past 3 months (10% average weekly change). Minor Risks Revenue is less than US$5m (₹308m revenue, or US$3.7m). Market cap is less than US$100m (₹2.00b market cap, or US$23.9m). New Risk • Jun 04
New minor risk - Revenue size The company makes less than US$5m in revenue. Total revenue: ₹321m (US$3.8m) This is considered a minor risk. Companies with a small amount of revenue are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (8.8% average weekly change). Revenue is less than US$5m (₹321m revenue, or US$3.8m). Market cap is less than US$100m (₹1.43b market cap, or US$17.1m). Valuation Update With 7 Day Price Move • May 19
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₹189, the stock trades at a trailing P/E ratio of 28.8x. Average trailing P/E is 30x in the Real Estate industry in India. Total returns to shareholders of 171% over the past three years. Reported Earnings • Feb 16
Third quarter 2024 earnings released: EPS: ₹0.86 (vs ₹0.90 in 3Q 2023) Third quarter 2024 results: EPS: ₹0.86 (down from ₹0.90 in 3Q 2023). Revenue: ₹55.6m (down 64% from 3Q 2023). Net income: ₹7.72m (down 4.5% from 3Q 2023). Profit margin: 14% (up from 5.3% in 3Q 2023). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 19% per year but the company’s share price has increased by 41% per year, which means it is well ahead of earnings. New Risk • Feb 12
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 10% 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 Risk Share price has been highly volatile over the past 3 months (10% average weekly change). Minor Risks Profit margins are more than 30% lower than last year (11% net profit margin). Market cap is less than US$100m (₹2.21b market cap, or US$26.6m). Valuation Update With 7 Day Price Move • Feb 12
Investor sentiment improves as stock rises 35% After last week's 35% share price gain to ₹245, the stock trades at a trailing P/E ratio of 37.1x. Average trailing P/E is 36x in the Real Estate industry in India. Total returns to shareholders of 288% over the past three years. Valuation Update With 7 Day Price Move • Jan 05
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to ₹169, the stock trades at a trailing P/E ratio of 25.5x. Average trailing P/E is 30x in the Real Estate industry in India. Total returns to shareholders of 219% over the past three years. Announcement • Nov 02
Thakkers Developers Limited Announces Executive Changes Thakkers Developers Limited announced that Board of directors has approved the appointment of Mrs. Shruti Amit Pekam as whole time company secretary, KMP and compliance officer of the company, with effect from November 1, 2023. Mr. Lalit Avinash Bhanu resigns the post of Company Secretary & Compliance Officer with effect from October 31, 2023 for better growth & career opportunity. Mrs. Shruti Amit Pekam is a member of Institute of company secretaries of India and having ACS No. 25976 and requisite qualification to hold position. Announcement • Sep 08
Thakkers Developers Limited, Annual General Meeting, Sep 30, 2023 Thakkers Developers Limited, Annual General Meeting, Sep 30, 2023, at 12:00 Indian Standard Time. Location: 37/39, Kantol Niwas, Modi Street, Fort, Mumbai Maharashtra India Agenda: To consider and adopt the Audited Standalone and Consolidated Financial Statement of the company for the financial year ended 31st March, 2023, together with the reports of the Board of Directors and Auditors thereon; to appoint a Director in place of Mr. Rajendra Manohardas Thakker having DIN- 00083181 who retires by rotation and being eligible,offers himself for reappointment; and to appoint a Director in place of Mrs. Hetal Nishant Thakker having DIN- 02561468 who retires by rotation and being eligible, offers herself for reappointment. New Risk • Aug 17
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2022. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (28% accrual ratio). Minor Risks Latest financial reports are more than 6 months old (reported December 2022 fiscal period end). Profit margins are more than 30% lower than last year (33% net profit margin). Market cap is less than US$100m (₹1.12b market cap, or US$13.5m). Valuation Update With 7 Day Price Move • Mar 14
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to ₹148, the stock trades at a trailing P/E ratio of 7.2x. Average trailing P/E is 22x in the Real Estate industry in India. Total returns to shareholders of 196% over the past three years. Reported Earnings • Feb 15
Third quarter 2023 earnings released: EPS: ₹0.90 (vs ₹0.81 in 3Q 2022) Third quarter 2023 results: EPS: ₹0.90 (up from ₹0.81 in 3Q 2022). Revenue: ₹155.0m (up 127% from 3Q 2022). Net income: ₹8.08m (up 10% from 3Q 2022). Profit margin: 5.2% (down from 11% in 3Q 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 52% per year but the company’s share price has only increased by 36% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jan 16
Investor sentiment improved over the past week After last week's 20% share price gain to ₹180, the stock trades at a trailing P/E ratio of 8.8x. Average trailing P/E is 25x in the Real Estate industry in India. Total returns to shareholders of 213% over the past three years. Reported Earnings • Nov 20
Second quarter 2023 earnings released: EPS: ₹7.26 (vs ₹28.68 in 2Q 2022) Second quarter 2023 results: EPS: ₹7.26 (down from ₹28.68 in 2Q 2022). Revenue: ₹144.2m (down 51% from 2Q 2022). Net income: ₹65.3m (down 75% from 2Q 2022). Profit margin: 45% (down from 89% in 2Q 2022). The decrease in margin was primarily driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 72% per year but the company’s share price has only increased by 38% per year, which means it is significantly lagging earnings growth. Board Change • Nov 16
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. 7 highly experienced directors. Independent Non-Executive Director Hetal Thakker was the last director to join the board, commencing their role in 2015. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Sep 19
Investor sentiment improved over the past week After last week's 28% share price gain to ₹216, the stock trades at a trailing P/E ratio of 5.2x. Average trailing P/E is 26x in the Real Estate industry in India. Total returns to shareholders of 193% over the past year. Announcement • Sep 09
Thakkers Developers Limited, Annual General Meeting, Sep 30, 2022 Thakkers Developers Limited, Annual General Meeting, Sep 30, 2022, at 12:00 Indian Standard Time. Location: 37/39, Kantol Niwas,Modi Street, Fort Mumbai India Agenda: To consider and adopt the audited standalone and consolidated financial statement of the company for the financial year ended 31st March, 2022, together with the reports of the board of directors and Auditors thereon; to appoint M/s Karwa Malani Kalantri & Associates as the statutory auditor of the company till the financial year 2026-27; to appoint a Director in place of Mr. Jitendra Manohardas Thakker having DIN- 00082860 who retires by rotation and being eligible, offers himself for reappointment; to appoint a Director in place of Mr. Narendra Manohardas Thakker having DIN- 00083224 who retires by rotation and being eligible, offers himself for re appointment ; to consider re-appointment of Mr. Jaman Haridas Thakker (DIN: 02519374) as an Independent Director; and such other business issues. Valuation Update With 7 Day Price Move • Sep 05
Investor sentiment improved over the past week After last week's 25% share price gain to ₹157, the stock trades at a trailing P/E ratio of 4.9x. Average trailing P/E is 27x in the Real Estate industry in India. Total returns to shareholders of 121% over the past year. Valuation Update With 7 Day Price Move • Jun 20
Investor sentiment deteriorated over the past week After last week's 25% share price decline to ₹111, the stock trades at a trailing P/E ratio of 3.5x. Average trailing P/E is 26x in the Real Estate industry in India. Total returns to shareholders of 73% over the past three years. Valuation Update With 7 Day Price Move • Jun 02
Investor sentiment improved over the past week After last week's 16% share price gain to ₹117, the stock trades at a trailing P/E ratio of 3.7x. Average trailing P/E is 27x in the Real Estate industry in India. Total returns to shareholders of 81% over the past three years. Announcement • May 20
Thakkers Developers Limited to Report Q4, 2022 Results on May 30, 2022 Thakkers Developers Limited announced that they will report Q4, 2022 results on May 30, 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. 4 experienced directors. 4 highly experienced directors. CEO & Director Narendra Thakker was the last director to join the board, commencing their role in 2018. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Mar 29
Investor sentiment deteriorated over the past week After last week's 15% share price decline to ₹102, the stock trades at a trailing P/E ratio of 3.2x. Average trailing P/E is 29x in the Real Estate industry in India. Total returns to shareholders of 50% over the past three years. Valuation Update With 7 Day Price Move • Mar 11
Investor sentiment improved over the past week After last week's 19% share price gain to ₹131, the stock trades at a trailing P/E ratio of 4.1x. Average trailing P/E is 29x in the Real Estate industry in India. Total returns to shareholders of 89% over the past three years. Reported Earnings • Feb 17
Third quarter 2022 earnings: EPS and revenues miss analyst expectations Third quarter 2022 results: EPS: ₹0.81 (down from ₹6.78 in 3Q 2021). Revenue: ₹68.2m (down 33% from 3Q 2021). Net income: ₹7.33m (down 88% from 3Q 2021). Profit margin: 11% (down from 60% in 3Q 2021). The decrease in margin was primarily driven by higher expenses. Revenue missed analyst estimates by 10%. Earnings per share (EPS) also missed analyst estimates by 43%. Over the last 3 years on average, earnings per share has increased by 90% per year but the company’s share price has only increased by 22% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Feb 15
Investor sentiment deteriorated over the past week After last week's 15% share price decline to ₹138, the stock trades at a trailing P/E ratio of 3.6x. Average trailing P/E is 33x in the Real Estate industry in India. Total returns to shareholders of 103% over the past three years. Valuation Update With 7 Day Price Move • Jan 06
Investor sentiment improved over the past week After last week's 15% share price gain to ₹142, the stock trades at a trailing P/E ratio of 3.7x. Average trailing P/E is 32x in the Real Estate industry in India. Total returns to shareholders of 119% over the past three years. Valuation Update With 7 Day Price Move • Nov 16
Investor sentiment improved over the past week After last week's 16% share price gain to ₹81.70, the stock trades at a trailing P/E ratio of 5.8x. Average trailing P/E is 33x in the Real Estate industry in India. Total returns to shareholders of 36% over the past three years. Board Change • Nov 01
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. 5 experienced directors. 3 highly experienced directors. CEO & Director Narendra Thakker was the last director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Board Change • Oct 02
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. 5 experienced directors. 3 highly experienced directors. CEO & Director Narendra Thakker was the last director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Valuation Update With 7 Day Price Move • Jul 15
Investor sentiment improved over the past week After last week's 21% share price gain to ₹74.10, the stock trades at a trailing P/E ratio of 5.9x. Average trailing P/E is 26x in the Real Estate industry in India. Total loss to shareholders of 21% over the past three years. Reported Earnings • Jul 06
Full year 2021 earnings released: EPS ₹12.60 (vs ₹4.15 in FY 2020) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2021 results: Revenue: ₹318.8m (up 78% from FY 2020). Net income: ₹113.4m (up 203% from FY 2020). Profit margin: 36% (up from 21% in FY 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 71% per year but the company’s share price has fallen by 15% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • May 11
Investor sentiment deteriorated over the past week After last week's 18% share price decline to ₹58.55, the stock trades at a trailing P/E ratio of 4x. Average trailing P/E is 20x in the Real Estate industry in India. Total loss to shareholders of 25% over the past three years. Valuation Update With 7 Day Price Move • Apr 26
Investor sentiment deteriorated over the past week After last week's 15% share price decline to ₹84.10, the stock trades at a trailing P/E ratio of 5.7x. Average trailing P/E is 20x in the Real Estate industry in India. Total returns to shareholders of 16% over the past three years. Valuation Update With 7 Day Price Move • Mar 26
Investor sentiment improved over the past week After last week's 20% share price gain to ₹100, the stock trades at a trailing P/E ratio of 6.8x. Average trailing P/E is 19x in the Real Estate industry in India. Total returns to shareholders of 24% over the past three years. Valuation Update With 7 Day Price Move • Mar 06
Investor sentiment improved over the past week After last week's 16% share price gain to ₹74.20, the stock is trading at a trailing P/E ratio of 5x, up from the previous P/E ratio of 4.3x. This compares to an average P/E of 21x in the Real Estate industry in India. Total return to shareholders over the past three years is a loss of 13%. Is New 90 Day High Low • Mar 05
New 90-day high: ₹74.20 The company is up 100% from its price of ₹37.05 on 04 December 2020. The Indian market is up 17% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Real Estate industry, which is up 30% over the same period. Valuation Update With 7 Day Price Move • Feb 20
Investor sentiment improved over the past week After last week's 15% share price gain to ₹69.55, the stock is trading at a trailing P/E ratio of 4.7x, up from the previous P/E ratio of 4.1x. This compares to an average P/E of 20x in the Real Estate industry in India. Total return to shareholders over the past three years is a loss of 19%. Reported Earnings • Feb 17
Third quarter 2021 earnings released: EPS ₹6.78 (vs ₹3.33 in 3Q 2020) The company reported a decent third quarter result with improved earnings and profit margins, although revenues were weaker. Third quarter 2021 results: Revenue: ₹101.8m (down 15% from 3Q 2020). Net income: ₹61.0m (up 104% from 3Q 2020). Profit margin: 60% (up from 25% in 3Q 2020). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 71% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Announcement • Feb 05
Thakkers Developers Limited to Report Q3, 2021 Results on Feb 13, 2021 Thakkers Developers Limited announced that they will report Q3, 2021 results on Feb 13, 2021 Is New 90 Day High Low • Feb 04
New 90-day high: ₹60.60 The company is up 55% from its price of ₹39.00 on 05 November 2020. The Indian market is up 23% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Real Estate industry, which is up 50% over the same period. Is New 90 Day High Low • Jan 29
New 90-day high: ₹57.75 The company is up 45% from its price of ₹39.70 on 22 October 2020. The Indian market is up 19% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Real Estate industry, which is up 35% over the same period. Valuation Update With 7 Day Price Move • Jan 13
Investor sentiment improved over the past week After last week's 16% share price gain to ₹56.00, the stock is trading at a trailing P/E ratio of 5.1x, up from the previous P/E ratio of 4.4x. This compares to an average P/E of 17x in the Real Estate industry in India. Total return to shareholders over the past three years is a loss of 22%. Valuation Update With 7 Day Price Move • Dec 30
Investor sentiment improved over the past week After last week's 21% share price gain to ₹47.05, the stock is trading at a trailing P/E ratio of 4.3x, up from the previous P/E ratio of 3.5x. This compares to an average P/E of 14x in the Real Estate industry in India. Total return to shareholders over the past three years is a loss of 38%. Is New 90 Day High Low • Dec 03
New 90-day low: ₹37.05 The company is down 6.0% from its price of ₹39.30 on 04 September 2020. The Indian market is up 13% 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. 
