Ashiana Housing Limited (ASHIANA)

Loading page…

Ashiana Housing Limited (ASHIANA) · mywealthgrid

About

Ashiana Housing develops residential and commercial projects in India's real estate sector. With a ₹3,642.62 Cr market cap, 1-year return of 16.81%, and moderate leverage (D/E 0.36), the company maintains a 61.11% promoter stake.

Face value: ₹2

Market cap

₹3,859 Cr

P/E

32.6×

P/B

4.5×

Dividend yield

0.7%

ROE

14.5%

ROCE

14%

Debt / equity

0.36

OPM

11.3%

EPS (TTM)

₹11.8

Book value

₹85.5

52-week high

—

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

Quarterly revenue ranges ₹83–361 Cr with operating margins swinging 6.26% to 20.44%, driven by project mix; verify current pipeline and delivery schedule for earnings visibility
Recent margin compression to 7% (Mar–Jun 2026) on larger projects suggests competitive pricing or cost-absorption challenges — clarify whether structural or project-specific
Valuation at PE 30.8 prices in recovery and growth; verify whether pipeline and execution justify this multiple or if margin normalization is likely
Residential demand remains cyclical; verify interest-rate environment and home-buyer financing in current market

Generated analysis · source review pending

Growth drivers

High-margin delivery in Dec 2025 (20.22% OPM) and Sep 2025 (20.44% OPM) shows execution capability; verify if comparable projects are in pipeline
Annual dividends (2024–2026) signal cash generation; verify if sustainable or constraining reinvestment
ROE 14.52% indicates reasonable capital returns, though margin compression (7% Mar–Jun 2026) may pressure future returns if structural
1-year stock return of 16.81% reflects investor interest; verify if driven by sector recovery, launches, or valuation rerating

Generated analysis · source review pending

2,528 historical price candles were omitted because the exchange source has not been verified.

₹384.0-1.7%1Y

Quick read

rule-based

Pros

+Profit CAGR of 132.9% over the last 5 years
+Revenue CAGR of 36.4% over the last 5 years
+Comfortable interest coverage of 96.2×
+High promoter holding of 61.1% with no pledge

Cons

−Low return on equity of 9.3% (3-yr avg)

Research score

Structured signal from quality, growth, valuation and momentum.

49/100

Business quality: 54
Growth: 56
Valuation

Revenue & net profit

₹ crore, by fiscal year

RevenuePAT

Margins

% of revenue, by fiscal year

OPMPAT margin

Peers

Comparable companies from the narrowest available industry classification.

Screen this industry Compare top 5 side-by-side

Company	Mkt Cap	EV	Revenue	EBITDA	OPM	PAT	NPM	ROCE	ROE	WC Days
Lodha Developers LimitedLODHALODHA	₹1,10,460 Cr	₹1,20,344 Cr	₹18,181 Cr	₹5,859 Cr	29.5%	₹4,126 Cr	20.6%	20.1%	15.8%	1,405
The Phoenix Mills LimitedPHOENIXLTDPHOENIXLTD	₹69,017 Cr	₹74,313 Cr	₹4,545 Cr	₹2,714 Cr	59.6%	₹1,280 Cr	35.2%	12.4%	11.4%	734
Prestige Estates Projects LimitedPRESTIGEPRESTIGE	₹64,006 Cr	₹78,992 Cr	₹13,053 Cr	₹3,675 Cr	29.2%	₹1,139 Cr	10.3%	13.6%	7.5%	2,755
Oberoi Realty LimitedOBEROIRLTYOBEROIRLTY	₹63,797 Cr	₹66,613 Cr	₹6,322 Cr	₹3,572 Cr	55.9%	₹2,630 Cr	41.7%	17.5%	14.9%	1,581
Godrej Properties LimitedGODREJPROPGODREJPROP	₹48,065 Cr	₹63,680 Cr	₹5,203 Cr	₹-458 Cr	-8.1%	₹1,600 Cr	35.9%	12.5%	10.1%	6,464
Anant Raj LimitedANANTRAJANANTRAJ	₹20,797 Cr	₹21,403 Cr	₹2,551 Cr	₹688 Cr	26.1%	₹579 Cr	22.2%	12%	11.2%	236
Brigade Enterprises LimitedBRIGADEBRIGADE	₹18,579 Cr	₹24,688 Cr	₹5,532 Cr	₹1,465 Cr	25.1%	₹695 Cr	12.7%	11.1%	10.3%	938
Horizon Industrial Parks LimitedHORIZONINDHORIZONIND	₹14,025 Cr	₹20,910 Cr	₹691 Cr	₹531 Cr	76.9%	₹-198 Cr	-29.5%	3.3%	-5.9%	-46
Sobha LimitedSOBHASOBHA	₹12,968 Cr	₹13,970 Cr	₹5,617 Cr	₹364 Cr	6%	₹231 Cr	3.7%	7.4%	4.2%	17,827
Aditya Birla Real Estate LimitedABRELABREL	₹12,293 Cr	₹17,929 Cr	₹450 Cr	₹-375 Cr	-88.2%	₹-116 Cr	-83%	-4.4%	-2.7%	22,467
Sri Lotus Developers And Realty LimitedLOTUSDEVLOTUSDEV	₹11,244 Cr	₹11,374 Cr	₹840 Cr	₹299 Cr	36.5%	₹257 Cr	31.6%	22.3%	16.7%	840
Signatureglobal (India) LimitedSIGNATURESIGNATURE	₹10,376 Cr	₹13,317 Cr	₹2,282 Cr	₹-126 Cr	-1.9%	₹1,044 Cr	42.2%	3.4%	85%	1,407

Loading peers…

Financials

Reported profit and loss, balance sheet, cash flow and growth history.

Annual Quarterly

Consolidated Standalone

Consolidated figures · ₹ crore

₹ Cr	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	299	242	222	407	944	529	1,143
COGS	190	136	147	280	719	368	821
Gross profit	109	106	75	127	225	161	322
	127	105	84	99	128	143	193
	-18	1	-9	28	97	18	130
OPM %	-6.1%	0.4%	-4.1%	6.9%	10.2%	3.3%	11.3%
Depreciation	9	9	8	8	9	13	13
Interest	14	9	5	3	2	2	2
	2	17	8	18	23	24	44
Profit before tax	-39	0	-15	34	108	26	159
Tax	-9	-1	-8	6	24	8	41
Tax %	-23.2%	-473.3%	-51.8%	18.8%	22.6%	30.4%	25.8%
	-30	2	-7	28	83	18	118
PAT margin %	-10.1%	0.7%	-3.2%	6.8%	8.8%	3.5%	10.3%
EPS (₹)	-2.8	0.4	-0.6	2.8	8.3	1.9	12
EPS adjusted (₹)	-3	0.2	-0.7	2.7	8.3	1.8	11.7
	—	100%	—	17.8%	18%	80.6%	29.2%
Annual report	Annual report for Mar 2020	Annual report for Mar 2021	Annual report for Mar 2022	Annual report for Mar 2023	Annual report for Mar 2024	Annual report for Mar 2025	—

Loading financials…

Ratios

Annual operating, return, leverage and working-capital ratios.

Consolidated Standalone

Consolidated figures

Ratio	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	36.5%	43.7%	33.8%	31.2%	23.8%	30.4%	28.2%
EBITDA margin %	-6.1%	0.4%	-4.1%	6.9%	10.2%	3.3%	11.3%
EBIT margin %	-9.2%	-3.3%	-7.8%	4.8%	9.2%	0.9%	10.2%
PAT margin %	-10.1%	0.7%	-3.2%	6.8%	8.8%	3.5%	10.3%
Working capital
Receivable days	39	41	41	30	17	28	14
Inventory days	1,193	1,983	3,102	1,991	775	2,265	1,201
Payable days	0	69	68	49	27	73	36
NWC days	1,232	1,955	3,075	1,972	765	2,219	1,179
Leverage
Current ratio	3.66	2.46	1.86	1.69	1.57	1.37	1.33
Debt to EBITDA	—	60.11	—	6.51	1.53	14.94	2.36
Debt to equity	0.14	0.07	0.22	0.24	0.19	0.34	0.36
Interest coverage	-0.6	1	-1.1	12.3	53.6	13.9	96.2
Asset turnover	0.25	0.18	0.12	0.19	0.39	0.15	0.27
Return ratios
Return on assets %	-2.6%	0.1%	-0.4%	1.3%	3.5%	0.5%	2.8%
Return on capital employed %	-0.9%	1.1%	-0.6%	3.9%	11.3%	3.3%	14%
Return on equity %	-4%	0.2%	-1%	3.7%	10.8%	2.4%	13.7%

Derived from reported annual statements. ROCE uses EBIT over capital employed (total assets less current liabilities). Day counts average the opening and closing balance; receivables turn on revenue, inventory and payables on cost of goods sold.

Loading ratios…

Shareholding

Quarterly ownership, named holders, insider transactions and disclosed deals.

Quarterly Annual

Every quarter filed · % of equity

Holder (%)	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	61.11%	61.11%	61.11%	61.11%	61.11%	61.11%	61.11%	61.11%	61.11%	61.11%	61.11%	61.11%
	7.86%	8.24%	8.28%	8.34%	7.46%	7.47%	7.74%	7.87%	7.87%	7.89%	8.28%	8.18%
	7.4%	7.34%	7.09%	6.99%	7.85%	7.75%	7.75%	8.06%	8.06%	8.06%	8.07%	8.08%
	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	23.63%	23.31%	23.52%	23.56%	23.58%	23.67%	23.4%	22.96%	22.96%	22.94%	22.54%	22.63%
No. of shareholders	—	—	—	—	—	—	—	—	24,984	24,306	23,194	24,051

Promoter holding up 0 percentage points since Sep 2023.

Mr. Vishal GuptaExecutive Director-MD
Mr. Ankur GuptaExecutive Director-MD
Mr. Varun GuptaExecutive Director
Vikash DugarChief Financial Officer
Mr. Narayan AnandNon-Executive - Independent Director
Ms. Piyul MukherjeeNon-Executive - Independent Director
Mr. Krishna Suraj MorajeNon-Executive - Independent Director
Mr. Vinit TanejaNon-Executive - Independent Director
Mr. Vikas ChoudhuryNon-Executive - Independent Director
Nitin SharmaCompany Secretary & Compliance Officer

Current officeholders as filed with BSE. A person holding two offices is listed once per office.

Loading shareholding…

F&O

Current futures and options contracts with compact option-chain pages.

Not in the F&O segment

Only about 210 stocks have listed futures and options. Contracts appear here for those, refreshed after each close.

Loading f&o…

Fund holders

Mutual-fund schemes that disclosed a holding in the company.

Portfolio month

Schemes holding

across 2 fund houses

Held by these funds

7.98%

of the company's equity

All mutual funds

7.98%

shareholding pattern, Jun 2026

Portfolios as of

August 2026

compared with July 2026

3 schemes · 2 fund houses

		Shares
Contra Fund	SBI Mutual Fund	71.89 L	263.77	0.55%	7.153%	-0
Multi Asset Allocation Fund	SBI Mutual Fund	8.3 L	30.44	0.15%	0.826%	-0
(Investment Manager for Motilal Oswal Mutual Fund)	Motilal Oswal Mutual Fund	104	0	0.01%	0%	-0

Loading fund holders…

Documents

Annual reports, exchange filings, offer documents, ratings and earnings-call material.

Announcements

Loading documents…

Events

Upcoming dates and the company’s corporate-action history.

22

Final dividend22 Sept 2026 · ex-date₹1.5
Interim dividend18 Feb 2026 · ex-date₹1
Final dividend18 Sept 2025 · ex-date₹1.5
Interim dividend11 Apr 2025 · ex-date₹1
Final dividend17 Sept 2024 · ex-date₹1.5
Final dividend21 Sept 2023 · ex-date₹0.5
Final dividend8 Sept 2022 · ex-date₹0.5
Interim dividend23 Feb 2022 · ex-date₹0.4
Final dividend2 Sept 2021 · ex-date₹0.4
Final dividend10 Aug 2020 · ex-date₹0.3
Dividend dividend22 Aug 2019 · ex-date₹0.25
Dividend dividend14 Aug 2018 · ex-date₹0.25
Dividend dividend16 Aug 2017 · ex-date₹0.25
Interim dividend22 Mar 2016 · ex-date₹0.5
Dividend dividend14 Aug 2015 · ex-date₹0.5
Dividend dividend21 Aug 2014 · ex-date₹0.5
Dividend dividend19 Aug 2013 · ex-date₹2.25
Dividend dividend30 Jul 2012 · ex-date₹2.25
Dividend dividend11 Aug 2011 · ex-date₹1.75
Dividend dividend12 Aug 2010 · ex-date₹1.5
Dividend dividend9 Sept 2008 · ex-date₹1.5
Dividend dividend13 Sept 2007 · ex-date₹2.5

1

Board meeting to consider results11 Aug 2026

1

Face value ₹10 → ₹224 Oct 2013 · ex-date

1–3 of 4

1 / 2

Loading events…

Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

58 announcementsExport CSV

1 Oct 2026, 6:48 pmCompany Update

Intimation For Performance Of The Company For The Month Ended 30Th September 2026

General PDF

1 Oct 2026, 6:22 pmCompany Update

Intimation Of Trading Under Regulation 7(2) Of SEBI (PIT) Regulations, 2015 As Amended From Time To Time

General PDF

30 Sept 2026, 6:18 pmAGM/EGM

Shareholder Meeting / Postal Ballot-Scrutinizer''s Report

AGM PDF

29 Sept 2026, 6:09 pmCompany Update

Announcement under Regulation 30 (LODR)-Change in Management

Change in Management PDF

29 Sept 2026, 6:05 pmCompany Update

Announcement under Regulation 30 (LODR)-Change in Management

Change in Management PDF

29 Sept 2026, 6:02 pmCompany Update

Announcement under Regulation 30 (LODR)-Meeting Updates

Meeting Updates PDF

17 Sept 2026, 5:20 pmCompany Update

Intimation Of Trading Under Regulation 7(2) Of SEBI (PIT) Regulations, 2015 As Amended From Time To Time

General PDF

9 Sept 2026, 4:41 pmCompany Update

Announcement under Regulation 30 (LODR)-Newspaper Publication

Newspaper Publication PDF

Date	Category	Subject	Filing
1 Oct 2026, 6:48 pm	Company Update General	Intimation For Performance Of The Company For The Month Ended 30Th September 2026	PDF
1 Oct 2026, 6:22 pm	Company Update General	Intimation Of Trading Under Regulation 7(2) Of SEBI (PIT) Regulations, 2015 As Amended From Time To Time

Loading announcements…

Ratio	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Margins
Gross margin %	36.5%	43.7%	33.8%	31.2%	23.8%	30.4%	28.2%
EBITDA margin %	-6.1%	0.4%	-4.1%	6.9%	10.2%	3.3%	11.3%
EBIT margin %	-9.2%	-3.3%	-7.8%	4.8%	9.2%	0.9%	10.2%
PAT margin %	-10.1%	0.7%	-3.2%	6.8%	8.8%	3.5%	10.3%
Working capital
Receivable days	39	41	41	30	17	28	14
Inventory days	1,193	1,983	3,102	1,991	775	2,265	1,201
Payable days	0	69	68	49	27	73	36
NWC days	1,232	1,955	3,075	1,972	765	2,219	1,179
Leverage
Current ratio	3.66	2.46	1.86	1.69	1.57	1.37	1.33
Debt to EBITDA	—	60.11	—	6.51	1.53	14.94	2.36
Debt to equity	0.14	0.07	0.22	0.24	0.19	0.34	0.36
Interest coverage	-0.6	1	-1.1	12.3	53.6	13.9	96.2
Asset turnover	0.25	0.18	0.12	0.19	0.39	0.15	0.27
Return ratios
Return on assets %	-2.6%	0.1%	-0.4%	1.3%	3.5%	0.5%	2.8%
Return on capital employed %	-0.9%	1.1%	-0.6%	3.9%	11.3%	3.3%	14%
Return on equity %	-4%	0.2%	-1%	3.7%	10.8%	2.4%	13.7%

₹ Cr	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	20	20	20	20	20	20	20	20	20
Reserves	745	761	729	730	716	739	750	744	839
Minority interest	0	0	0	0	—	—	—	—	—
	124	146	104	52	162	182	148	262	305
	342	264	319	536	966	1,258	1,488	2,462	3,119
Total equity & liabilities	1,232	1,192	1,172	1,339	1,864	2,200	2,406	3,488	4,284
	54	60	55	58	53	47	70	80	84
CWIP	—	—	—	—	—	3	0	—	0
Investments	43	41	37	126	178	126	136	236	312
	1,134	1,091	1,081	1,155	1,633	2,025	2,199	3,171	3,887
Total assets	1,232	1,192	1,172	1,339	1,864	2,200	2,406	3,488	4,284

₹ Cr	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	-79	-39	-54	-14	28	121	-62	12	212	234	342
	121	-24	11	28	64	12	-47	32	-10	-123	-52
	18	15	32	4	-63	-73	83	-14	-128	52	-58
Net cash flow	60	-48	-11	17	29	61	-27	29	75	163	232
Free cash flow	-83	-43	-73	-23	22	112	-67	-4	181	194	314
CFO / Operating profit %	—	—	—	—	—	—	—	41.5%	219.8%	—	264.2%

Compounded sales growth

7 years: —
5 years: 36%
3 years: 41%
1 year: 116%

Compounded profit growth

7 years: —
5 years: 133%
3 years: 62%
1 year: 546%

Return on equity

7 years: 4%
5 years: 6%
3 years: 9%
Last year: 14%

Ashiana Housing Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Ratios

Shareholding

F&O

Not in the F&O segment

Fund holders

Documents

Announcements

Events

22

1

1

Announcements

Not in the F&O segment

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

22

1

1

Compounded sales growth

Compounded profit growth

Return on equity

Ashiana Housing Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Ratios

Ratio timeline

Shareholding

Quarterly record

Board and management

F&O

Not in the F&O segment

Fund holders

Documents

Announcements

Events

Dividends22

Board meetings1

Stock splits1

Announcements

Ratio timeline

Not in the F&O segment

Quarterly record

Board and management

Announcements

Annual reports

Credit ratings

Investor Presentation and earnings call

Dividends22

Board meetings1

Stock splits1

Profit & loss

Balance sheet

Cash flow

Compounded returns

Compounded sales growth

Compounded profit growth

Return on equity

22

1

1

22

1

1