Reported Earnings • May 31
Full year 2026 earnings released: EPS: ₹0.50 (vs ₹2.33 loss in FY 2025) Full year 2026 results: EPS: ₹0.50 (up from ₹2.33 loss in FY 2025). Revenue: ₹16.6b (up 47% from FY 2025). Net income: ₹254.8m (up ₹1.51b from FY 2025). Profit margin: 1.5% (up from net loss in FY 2025). 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 14% per year, which means it is well ahead of earnings. Announcement • May 25
Valor Estate Limited to Report Q4, 2026 Results on May 29, 2026 Valor Estate Limited announced that they will report Q4, 2026 results on May 29, 2026 Valuation Update With 7 Day Price Move • May 18
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to ₹114, the stock trades at a trailing P/E ratio of 57.5x. Average trailing P/E is 26x in the Real Estate industry in India. Total returns to shareholders of 63% over the past three years. Valuation Update With 7 Day Price Move • May 04
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ₹124, the stock trades at a trailing P/E ratio of 62.2x. Average trailing P/E is 26x in the Real Estate industry in India. Total returns to shareholders of 71% over the past three years. Announcement • Mar 06
Valor Estate Limited (BSE:533160) agreed to acquire an additional minority stake in Bamboo Hotel and Global Centre (Delhi) Private Limited from Advent Hotels International Limited (NSEI:ADVENTHTL) for INR 5.97 billion. Valor Estate Limited (BSE:533160) agreed to acquire an additional minority stake in Bamboo Hotel and Global Centre (Delhi) Private Limited from Advent Hotels International Limited (NSEI:ADVENTHTL) for INR 5.97 billion on March 5, 2026. A cash consideration INR 6028.54 per share will be paid by Valor Estate Limited. As part of consideration, INR 5.97 billion is paid towards 0.99 million Class A Shares common equity of Bamboo Hotel and Global Centre (Delhi) Private Limited.
The transaction is subject to approval of merger agreement by target board, approval of offer by acquirer shareholders, approval of offer by target shareholders and approval/consents of lenders/creditors. The deal has been approved by the board of Advent Hotels International Limited. Subject to approval of Shareholders of the Company and Purchaser and Lender of Bamboo Hotel, the transaction will be completed within 60 days unless mutually extended between the parties. Reported Earnings • Feb 12
Third quarter 2026 earnings released: EPS: ₹2.14 (vs ₹0.08 in 3Q 2025) Third quarter 2026 results: EPS: ₹2.14 (up from ₹0.08 in 3Q 2025). Revenue: ₹4.55b (up 38% from 3Q 2025). Net income: ₹1.16b (up ₹1.11b from 3Q 2025). Profit margin: 26% (up from 1.4% 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 24% per year, which means it is well ahead of earnings. Announcement • Feb 06
Valor Estate Limited to Report Q3, 2026 Results on Feb 11, 2026 Valor Estate Limited announced that they will report Q3, 2026 results on Feb 11, 2026 New Risk • Feb 04
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 7.4% 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: Minor Risks Share price has been volatile over the past 3 months (7.4% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.4% net profit margin). Reported Earnings • Nov 17
Second quarter 2026 earnings released: EPS: ₹0.19 (vs ₹2.12 loss in 2Q 2025) Second quarter 2026 results: EPS: ₹0.19 (up from ₹2.12 loss in 2Q 2025). Revenue: ₹1.37b (up 74% from 2Q 2025). Net income: ₹100.5m (up ₹1.24b from 2Q 2025). Profit margin: 7.3% (up from net loss in 2Q 2025). Over the last 3 years on average, earnings per share has fallen by 57% per year but the company’s share price has increased by 15% per year, which means it is well ahead of earnings. Announcement • Nov 08
Valor Estate Limited to Report Q2, 2026 Results on Nov 14, 2025 Valor Estate Limited announced that they will report Q2, 2026 results on Nov 14, 2025 Announcement • Sep 09
Valor Estate Limited, Annual General Meeting, Sep 30, 2025 Valor Estate Limited, Annual General Meeting, Sep 30, 2025, at 15:00 Indian Standard Time. Reported Earnings • Aug 16
First quarter 2026 earnings released: EPS: ₹0.23 (vs ₹0.27 loss in 1Q 2025) First quarter 2026 results: EPS: ₹0.23 (up from ₹0.27 loss in 1Q 2025). Revenue: ₹8.99b (up ₹8.19b from 1Q 2025). Net income: ₹125.1m (up ₹261.1m from 1Q 2025). Profit margin: 1.4% (up from net loss in 1Q 2025). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 38% per year but the company’s share price has increased by 49% per year, which means it is well ahead of earnings. Buy Or Sell Opportunity • Jul 09
Now 22% undervalued Over the last 90 days, the stock has risen 45% to ₹239. The fair value is estimated to be ₹304, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 25% over the last 3 years. Meanwhile, the company became loss making. Reported Earnings • Jun 02
Full year 2025 earnings released: ₹2.33 loss per share (vs ₹29.63 profit in FY 2024) Full year 2025 results: ₹2.33 loss per share (down from ₹29.63 profit in FY 2024). Revenue: ₹11.8b (up 230% from FY 2024). Net loss: ₹1.26b (down 110% from profit in FY 2024). Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has increased by 37% per year, which means it is well ahead of earnings. New Risk • Mar 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 8.9% 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. This is currently the only risk that has been identified for the company. Announcement • Feb 20
Valor Estate Plans Business Realignment with Non-Core Divestment Realty developer Valor Estate Limited (BSE:533160) is undertaking a realignment of its business portfolio by divesting non-core assets, hiving off its hospitality business, and improving capital allocation for high-priority projects including real estate. The planned divestment includes the sale of stake in dairy processing unit Schreiber Dynamix Dairies Limited, a joint venture between US-based Schreiber Foods and Dynamix Dairy, and a majority stake in Sahyadri Agro And Dairy Private Limited. The proceeds of this divestment, which is likely to be concluded this quarter itself and estimated to be around INR 2.60 billion, will be directed towards strengthening Valor Estate’s real estate development pipeline. “The entire business realignment strategy is being implemented to focus on high-margin real estate ventures, asset optimization, and financial discipline. The divestment and demerger efforts align with the company’s broader objective of capital efficiency and long-term shareholder value creation,” said a company official. Reported Earnings • Feb 14
Third quarter 2025 earnings released: EPS: ₹0.08 (vs ₹9.26 in 3Q 2024) Third quarter 2025 results: EPS: ₹0.08 (down from ₹9.26 in 3Q 2024). Revenue: ₹3.30b (up 131% from 3Q 2024). Net income: ₹45.6m (down 99% from 3Q 2024). Profit margin: 1.4% (down from 325% in 3Q 2024). Over the last 3 years on average, earnings per share has increased by 33% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Announcement • Feb 05
Valor Estate Limited to Report Q3, 2025 Results on Feb 12, 2025 Valor Estate Limited announced that they will report Q3, 2025 results on Feb 12, 2025 Valuation Update With 7 Day Price Move • Jan 20
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ₹178, the stock trades at a trailing P/E ratio of 29.1x. Average trailing P/E is 35x in the Real Estate industry in India. Total returns to shareholders of 138% over the past three years. Recent Insider Transactions • Jan 01
Insider recently sold ₹176k worth of stock On the 27th of December, Jignesh Shah sold around 1k shares on-market at roughly ₹176 per share. This transaction amounted to 1.9% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth ₹14m. Insiders have been net sellers, collectively disposing of ₹31m more than they bought in the last 12 months. Recent Insider Transactions • Nov 27
Insider recently sold ₹2.2m worth of stock On the 18th of November, John D Souza sold around 15k shares on-market at roughly ₹154 per share. This transaction amounted to 100% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger sale worth ₹5.4m. Insiders have been net sellers, collectively disposing of ₹26m more than they bought in the last 12 months. New Risk • Nov 16
New major risk - Revenue size The company makes less than US$1m in revenue. This is considered a major 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: Major Risk Revenue is less than US$1m. Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (-108% net profit margin). Shareholders have been diluted in the past year (7.4% increase in shares outstanding). Reported Earnings • Nov 16
Second quarter 2025 earnings released: ₹2.12 loss per share (vs ₹23.01 profit in 2Q 2024) Second quarter 2025 results: ₹2.12 loss per share (down from ₹23.01 profit in 2Q 2024). Net loss: ₹1.14b (down 113% from profit in 2Q 2024). Over the last 3 years on average, earnings per share has increased by 67% per year but the company’s share price has only increased by 58% per year, which means it is significantly lagging earnings growth. Announcement • Nov 09
Valor Estate Limited to Report Q2, 2025 Results on Nov 14, 2024 Valor Estate Limited announced that they will report Q2, 2025 results on Nov 14, 2024 Valuation Update With 7 Day Price Move • Oct 14
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to ₹202, the stock trades at a trailing P/E ratio of 8.2x. Average trailing P/E is 29x in the Real Estate industry in India. Total returns to shareholders of 390% over the past three years. Recent Insider Transactions • Oct 03
Insider recently sold ₹5.4m worth of stock On the 25th of September, John D Souza sold around 28k shares on-market at roughly ₹193 per share. This transaction amounted to 66% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of ₹42m more than they bought in the last 12 months. Announcement • Sep 26
Valor Estate Limited Announces Second Term Expiration of Jagat Killawala as an Independent Director Valor Estate Limited informed that second term of five (5) years of Mr. Jagat Killawala, who is an Independent Director will expire on 26th September, 2024 and thus he will retire as an Independent Director of the Company w.e.f. closing of business hours on 26th September, 2024 pursuant to Sec 149(11) of the Companies Act, 2013. Reason for change viz. appointment, reappointment, resignation, removal, death or otherwise: Retirement of Mr. Jagat Killawala, as an Independent Director of the Company on completion of 2 consecutive terms of 5 years each pursuant to Sec 149(11) of the Companies Act, 2013. Board Change • Sep 20
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 3 experienced directors. 3 highly experienced directors. President & Executive Director Rahul Pandit was the last director to join the board, commencing their role in 2024. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Sep 09
Valor Estate Limited, Annual General Meeting, Sep 30, 2024 Valor Estate Limited, Annual General Meeting, Sep 30, 2024, at 15:00 Indian Standard Time. Reported Earnings • Aug 15
First quarter 2025 earnings released: ₹0.27 loss per share (vs ₹0.64 loss in 1Q 2024) First quarter 2025 results: ₹0.27 loss per share (improved from ₹0.64 loss in 1Q 2024). Revenue: ₹794.5m (up ₹770.2m from 1Q 2024). Net loss: ₹136.1m (loss narrowed 40% from 1Q 2024). Over the last 3 years on average, earnings per share has increased by 81% per year but the company’s share price has increased by 105% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Aug 07
Valor Estate Limited to Report Q1, 2025 Results on Aug 13, 2024 Valor Estate Limited announced that they will report Q1, 2025 results on Aug 13, 2024 Buy Or Sell Opportunity • Aug 06
Now 21% undervalued after recent price drop Over the last 90 days, the stock has fallen 3.6% to ₹197. The fair value is estimated to be ₹249, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 63% over the last 3 years. Meanwhile, the company has become profitable. Valuation Update With 7 Day Price Move • Jul 05
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to ₹219, the stock trades at a trailing P/E ratio of 8.9x. Average trailing P/E is 34x in the Real Estate industry in India. Total returns to shareholders of 756% over the past three years. Recent Insider Transactions • Jun 27
Insider recently sold ₹402k worth of stock On the 20th of June, Jignesh Shah sold around 2k shares on-market at roughly ₹201 per share. This transaction amounted to 5.7% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth ₹3.5m. Insiders have been net sellers, collectively disposing of ₹71m more than they bought in the last 12 months. Recent Insider Transactions • Jun 19
Insider recently sold ₹974k worth of stock On the 12th of June, Jignesh Shah sold around 5k shares on-market at roughly ₹195 per share. This transaction amounted to 13% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth ₹1.2m. Insiders have been net sellers, collectively disposing of ₹67m more than they bought in the last 12 months. Valuation Update With 7 Day Price Move • Jun 11
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to ₹199, the stock trades at a trailing P/E ratio of 8.1x. Average trailing P/E is 28x in the Real Estate industry in India. Total returns to shareholders of 663% over the past three years. Buy Or Sell Opportunity • Jun 04
Now 23% undervalued after recent price drop Over the last 90 days, the stock has fallen 40% to ₹164. The fair value is estimated to be ₹213, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 63% over the last 3 years. Meanwhile, the company has become profitable. Reported Earnings • May 30
Full year 2024 earnings released: EPS: ₹29.63 (vs ₹2.94 loss in FY 2023) Full year 2024 results: EPS: ₹29.63 (up from ₹2.94 loss in FY 2023). Revenue: ₹16.1b (up 131% from FY 2023). Net income: ₹13.2b (up ₹14.1b from FY 2023). Profit margin: 82% (up from net loss in FY 2023). The move to profitability was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 81% per year but the company’s share price has increased by 107% per year, which means it is tracking significantly ahead of earnings growth. New Risk • May 29
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 7.8% 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 Interest payments are not well covered by earnings (1.4x net interest cover). Shareholders have been substantially diluted in the past year (53% increase in shares outstanding). Minor Risks Share price has been volatile over the past 3 months (7.8% average weekly change). Large one-off items impacting financial results. Announcement • May 24
Valor Estate Limited to Report Q4, 2024 Results on May 29, 2024 Valor Estate Limited announced that they will report Q4, 2024 results on May 29, 2024 Valuation Update With 7 Day Price Move • May 09
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to ₹193, the stock trades at a trailing P/E ratio of 8.2x. Average trailing P/E is 31x in the Real Estate industry in India. Total returns to shareholders of 828% over the past three years. New Risk • Apr 11
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 8.5% 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 Interest payments are not well covered by earnings (1.4x net interest cover). Shareholders have been substantially diluted in the past year (53% increase in shares outstanding). Minor Risks Share price has been volatile over the past 3 months (8.5% average weekly change). Large one-off items impacting financial results. Valuation Update With 7 Day Price Move • Apr 05
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to ₹230, the stock trades at a trailing P/E ratio of 9.7x. Average trailing P/E is 32x in the Real Estate industry in India. Total returns to shareholders of 883% over the past three years. Recent Insider Transactions • Mar 29
Insider recently sold ₹297k worth of stock On the 26th of March, Jignesh Shah sold around 2k shares on-market at roughly ₹198 per share. This transaction amounted to 3.6% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth ₹416k. Insiders have been net sellers, collectively disposing of ₹65m more than they bought in the last 12 months. New Risk • Mar 26
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 1.4x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.4x net interest cover). Shareholders have been substantially diluted in the past year (57% increase in shares outstanding). Minor Risk Large one-off items impacting financial results. New Risk • Mar 15
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 57% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Shareholders have been substantially diluted in the past year (57% increase in shares outstanding). Minor Risk Large one-off items impacting financial results. Announcement • Mar 14
D B Realty Limited has completed a Follow-on Equity Offering in the amount of INR 9.202002 billion. D B Realty Limited has completed a Follow-on Equity Offering in the amount of INR 9.202002 billion.
Security Name: Equity Shares
Security Type: Common Stock
Securities Offered: 35,666,675
Price\Range: INR 258
Transaction Features: Regulation S; Subsequent Direct Listing Valuation Update With 7 Day Price Move • Mar 13
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to ₹225, the stock trades at a trailing P/E ratio of 8.9x. Average trailing P/E is 30x in the Real Estate industry in India. Total returns to shareholders of 746% over the past three years. Announcement • Mar 09
D B Realty Limited has filed a Follow-on Equity Offering. D B Realty Limited has filed a Follow-on Equity Offering.
Security Name: Equity Shares
Security Type: Common Stock
Price(minimum): INR 270.87
Transaction Features: Regulation S; Subsequent Direct Listing Board Change • Mar 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. 3 experienced directors. 3 highly experienced directors. Independent Non-Executive Director Mahesh Gandhi was the last director to join the board, commencing their role in 2021. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Feb 01
Third quarter 2024 earnings released: EPS: ₹9.26 (vs ₹22.70 loss in 3Q 2023) Third quarter 2024 results: EPS: ₹9.26 (up from ₹22.70 loss in 3Q 2023). Revenue: ₹5.58b (down 10% from 3Q 2023). Net income: ₹4.64b (up ₹10.8b from 3Q 2023). Profit margin: 83% (up from net loss in 3Q 2023). The move to profitability was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 74% per year but the company’s share price has increased by 135% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Jan 25
D B Realty Limited to Report Q3, 2024 Results on Jan 31, 2024 D B Realty Limited announced that they will report Q3, 2024 results on Jan 31, 2024 Valuation Update With 7 Day Price Move • Jan 15
Investor sentiment improves as stock rises 25% After last week's 25% share price gain to ₹245, the stock trades at a trailing P/E ratio of 64.4x. Average trailing P/E is 31x in the Real Estate industry in India. Total returns to shareholders of 1,328% over the past three years. Recent Insider Transactions • Dec 23
Insider recently sold ₹660k worth of stock On the 18th of December, Satish Agarwal sold around 3k shares on-market at roughly ₹206 per share. This transaction amounted to 46% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth ₹18m. Insiders have been net sellers, collectively disposing of ₹60m more than they bought in the last 12 months. Recent Insider Transactions • Dec 09
Insider recently sold ₹312k worth of stock On the 6th of December, Jignesh Shah sold around 2k shares on-market at roughly ₹208 per share. This transaction amounted to 4.3% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth ₹18m. Insiders have been net sellers, collectively disposing of ₹56m more than they bought in the last 12 months. Recent Insider Transactions • Dec 02
Insider recently sold ₹1.1m worth of stock On the 24th of November, Shilpa Saboo sold around 6k shares on-market at roughly ₹206 per share. This transaction amounted to 100% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth ₹18m. Insiders have been net sellers, collectively disposing of ₹55m more than they bought in the last 12 months. New Risk • Nov 30
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 56% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risk Shareholders have been substantially diluted in the past year (56% increase in shares outstanding). Minor Risks Share price has been volatile over the past 3 months (8.1% average weekly change). Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (25% net profit margin). Significant insider selling over the past 3 months (₹35m sold). Reported Earnings • Nov 08
Second quarter 2024 earnings released: EPS: ₹23.01 (vs ₹20.93 in 2Q 2023) Second quarter 2024 results: EPS: ₹23.01 (up from ₹20.93 in 2Q 2023). Revenue: ₹8.90b (up ₹8.80b from 2Q 2023). Net income: ₹8.84b (up 56% from 2Q 2023). Profit margin: 99% (down from 5,600% in 2Q 2023). Over the last 3 years on average, earnings per share has increased by 72% per year but the company’s share price has increased by 202% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Sep 27
D B Realty Limited (BSE:533160) entered into a share purchase agreement to acquire 50% stake in Bamboo Hotel Global Centre (Delhi) Private Limited from Goan Hotels & Realty Private Limited and Marine Drive Hospitality & Realty Pvt. Ltd for INR 6.1 billion. D B Realty Limited (BSE:533160) entered into a share purchase agreement to acquire 50% stake in Bamboo Hotel Global Centre (Delhi) Private Limited from Goan Hotels & Realty Private Limited and Marine Drive Hospitality & Realty Pvt. Ltd for INR 6.1 billion on September 25, 2023. As part of the transaction, 10,10,000 Class A equity shares shall be acquired for total consideration of INR 6,088.8 million. The consideration shall be in the form of transfer of funds through banking channels. D B Realty will purchase of 10,10,000 Class A Equity Shares (i.e. approx. 50%) from 7,67,600 Class A Equity Shares from MDHRPL and 2,42,400 Class A Equity Shares from Goan Hotels & Realty. In a related transaction, entered into a Share Purchase Agreements to acquire Goan Hotels & Realty Private Limited and BD And P Hotels (India) Private Limited. As of March 31, 2023, Bamboo Hotel Global reported turnover of nil. The transaction has been approved by the shareholders of D B Realty. Recent Insider Transactions • Sep 23
Executive Chairman & MD recently sold ₹5.1m worth of stock On the 18th of September, Vinod Goenka sold around 30k shares on-market at roughly ₹169 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger sale from another insider worth ₹11m. This was Vinod's only on-market trade for the last 12 months. New Risk • Sep 15
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 54% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (10% average weekly change). Shareholders have been substantially diluted in the past year (54% increase in shares outstanding). Minor Risk Significant insider selling over the past 3 months (₹66m sold). Announcement • Sep 08
D B Realty Limited, Annual General Meeting, Sep 30, 2023 D B Realty Limited, Annual General Meeting, Sep 30, 2023, at 15:00 Indian Standard Time. Reported Earnings • Aug 13
First quarter 2024 earnings released: ₹0.64 loss per share (vs ₹0.46 profit in 1Q 2023) First quarter 2024 results: ₹0.64 loss per share (down from ₹0.46 profit in 1Q 2023). Revenue: ₹86.9m (up 25% from 1Q 2023). Net loss: ₹225.5m (down 288% from profit in 1Q 2023). Over the last 3 years on average, earnings per share has increased by 76% per year but the company’s share price has increased by 136% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Aug 05
D B Realty Limited to Report Q1, 2024 Results on Aug 11, 2023 D B Realty Limited announced that they will report Q1, 2024 results on Aug 11, 2023 Reported Earnings • Jun 02
Full year 2023 earnings released: ₹2.94 loss per share (vs ₹1.11 profit in FY 2022) Full year 2023 results: ₹2.94 loss per share (down from ₹1.11 profit in FY 2022). Revenue: ₹8.07b (up 268% from FY 2022). Net loss: ₹903.8m (down 436% from profit in FY 2022). Over the last 3 years on average, earnings per share has increased by 84% per year but the company’s share price has increased by 115% per year, which means it is tracking significantly ahead of earnings growth. Announcement • May 25
D B Realty Limited to Report Q4, 2023 Results on May 30, 2023 D B Realty Limited announced that they will report Q4, 2023 results on May 30, 2023 Valuation Update With 7 Day Price Move • Apr 06
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to ₹73.20, the stock trades at a trailing P/E ratio of 5.5x. Average trailing P/E is 22x in the Real Estate industry in India. Total returns to shareholders of 1,707% over the past three years. Valuation Update With 7 Day Price Move • Feb 24
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to ₹57.65, the stock trades at a trailing P/E ratio of 4.3x. Average trailing P/E is 22x in the Real Estate industry in India. Total returns to shareholders of 659% over the past three years. Reported Earnings • Feb 17
Third quarter 2023 earnings released: ₹22.70 loss per share (vs ₹1.42 loss in 3Q 2022) Third quarter 2023 results: ₹22.70 loss per share (further deteriorated from ₹1.42 loss in 3Q 2022). Revenue: ₹6.68b (up ₹6.60b from 3Q 2022). Net loss: ₹6.19b (loss widened ₹5.85b from 3Q 2022). Over the last 3 years on average, earnings per share has increased by 87% per year but the company’s share price has increased by 103% per year, which means it is tracking significantly ahead of earnings growth. Announcement • Feb 16
D B Realty Limited (BSE:533160) completed the acquisition of remaining 26% stake in Spacecon Realty Private Limited. D B Realty Limited (BSE:533160) agreed to acquire remaining 26% stake in Spacecon Realty Private Limited for INR 0.0035 million on October 7, 2022. Transaction is expected to close on October 10, 2022.
D B Realty Limited (BSE:533160) completed the acquisition of remaining 26% stake in Spacecon Realty Private Limited for INR 0.0035 million in current quarter of 2023. Announcement • Feb 08
D B Realty Limited to Report Q3, 2023 Results on Feb 14, 2023 D B Realty Limited announced that they will report Q3, 2023 results on Feb 14, 2023 Valuation Update With 7 Day Price Move • Jan 30
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to ₹76.80, the stock trades at a trailing P/E ratio of 2.5x. Average trailing P/E is 23x in the Real Estate industry in India. Total returns to shareholders of 708% over the past three years. Announcement • Jan 06
D B Realty Limited Announces Executive Changes D B Realty Limited announced that Mr. Asif Balwa, has resigned from the position of Chief Financial Officer and Key Managerial Personnel of the Company with effect from the closing of business hours on 5th January, 2023.In view of aforesaid resignation, Mr. Atul Bhatnagar who has been acting as Joint Chief Financial Officer and Key Managerial Personnel of the Company has been redesignated as Chief Financial Officer and Key Managerial Personnel of the Company by the Board of Directors with effect from 6th January, 2023. Reason for resignation: Resignation due to personal reasons. Details of re-designation of Mr. Atul Bhatnagar as Chief Financial Officer: Reason for Change, Due to resignation of Mr. Asif Balwa as Chief Financial officer of the Company. Mr. Atul Bhatnagar has already been working as Joint Chief Financial officer and Key Managerial Personnel of the Company since 11th February, 2020. In view of resignation of Mr. Asif Balwa, he has been re-designated as Chief Financial Officer of the Company with effect from 6th January, 2023. Mr. Atul Bhatnagar, aged 40 years is a Commerce graduate and qualified professional in Masters of Business Administration, Finance. He has been working with DB Group for past approx. 16 years and was working as Joint Chief Financial officer of the Company since 11th February, 2020. Reported Earnings • Nov 16
Second quarter 2023 earnings released: EPS: ₹20.93 (vs ₹14.49 loss in 2Q 2022) Second quarter 2023 results: EPS: ₹20.93 (up from ₹14.49 loss in 2Q 2022). Revenue: ₹341.2m (up 288% from 2Q 2022). Net income: ₹5.69b (up ₹9.21b from 2Q 2022). Over the last 3 years on average, earnings per share has increased by 73% per year but the company’s share price has increased by 131% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Nov 13
Second quarter 2023 earnings released: EPS: ₹20.93 (vs ₹14.49 loss in 2Q 2022) Second quarter 2023 results: EPS: ₹20.93 (up from ₹14.49 loss in 2Q 2022). Revenue: ₹341.2m (up 288% from 2Q 2022). Net income: ₹5.69b (up ₹9.21b from 2Q 2022). Over the last 3 years on average, earnings per share has increased by 73% per year but the company’s share price has increased by 139% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Aug 29
Investor sentiment improved over the past week After last week's 19% share price gain to ₹63.15, the stock trades at a trailing P/E ratio of 13.2x. Average trailing P/E is 26x in the Real Estate industry in India. Total returns to shareholders of 944% over the past three years. Reported Earnings • Aug 11
First quarter 2023 earnings released: EPS: ₹0.46 (vs ₹3.80 loss in 1Q 2022) First quarter 2023 results: EPS: ₹0.46 (up from ₹3.80 loss in 1Q 2022). Revenue: ₹291.4m (up 319% from 1Q 2022). Net income: ₹120.0m (up ₹1.04b from 1Q 2022). Profit margin: 41% (up from net loss in 1Q 2022). Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has increased by 99% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Jul 08
Investor sentiment improved over the past week After last week's 18% share price gain to ₹63.20, the stock trades at a trailing P/E ratio of 60.5x. Average trailing P/E is 27x in the Real Estate industry in India. Total returns to shareholders of 467% over the past three years. Valuation Update With 7 Day Price Move • Jun 20
Investor sentiment deteriorated over the past week After last week's 18% share price decline to ₹63.45, the stock trades at a trailing P/E ratio of 63.2x. Average trailing P/E is 26x in the Real Estate industry in India. Total returns to shareholders of 379% over the past three years. Valuation Update With 7 Day Price Move • Jun 06
Investor sentiment improved over the past week After last week's 17% share price gain to ₹78.25, the stock trades at a trailing P/E ratio of 80x. Average trailing P/E is 25x in the Real Estate industry in India. Total returns to shareholders of 422% over the past three years. Reported Earnings • Jun 04
Full year 2022 earnings: EPS and revenues miss analyst expectations Full year 2022 results: EPS: ₹1.11 (up from ₹6.98 loss in FY 2021). Revenue: ₹2.19b (up ₹1.95b from FY 2021). Net income: ₹269.3m (up ₹1.97b from FY 2021). Profit margin: 12% (up from net loss in FY 2021). Revenue missed analyst estimates by 30%. Earnings per share (EPS) also missed analyst estimates by 99%. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has increased by 79% per year, which means it is tracking significantly ahead of earnings growth. 
