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Valor Estate Limited (DBREALTY) · mywealthgrid

About

Valor Estate Limited operates residential and commercial real estate projects in India's consumer discretionary sector. With a ₹6,070 Cr market cap, it is a mid-sized player dependent on project cycles and demand-driven buyer commitments. Recent results reveal severe operational stress, with the company swinging from profitable quarters to substantial losses within recent months.

Face value: ₹10

Market cap

₹4,974 Cr

P/E

424.4×

P/B

1.2×

Dividend yield

ROE

0.6%

ROCE

2.4%

Debt / equity

0.18

OPM

4.4%

EPS (TTM)

₹0.2

Book value

₹75.4

52-week high

₹165.2

52-week low

Key insights

Company research notes and source-linked reviews

Key risks

Profitability collapsed from ₹115.8 Cr net profit to ₹58.9 Cr loss between consecutive quarters (Dec 2025–Mar 2026); verify whether this reflects one-time project charges or structural margin pressure.
Operating margin swung from 28.31% (Dec 2025) to −52.76% (Mar 2026)—identify which projects or cost factors caused losses and likelihood of margin recovery.
Quarterly revenue ranged from ₹0 to ₹529 Cr, indicating project-execution dependency; verify pipeline stability, delivery timeline, and revenue recognition patterns.
Stock down 38% over one year with a PE of 517.92 (severely depressed earnings); recovery requires substantial profit turnaround.

Generated analysis · source review pending

Growth drivers

Returning to Dec 2025 standalone margins (28.31% OPM on ₹453.59 Cr revenue) would restore profitability; verify which projects in pipeline can execute at this level.
Low debt-to-equity of 0.18 provides project-leverage capacity; verify planned capex and project investment pipeline.
Quarterly revenue volatility (₹0–₹529 Cr) reflects project-delivery cycles; accelerating project completions would stabilize and grow revenue; verify completion schedule.

Generated analysis · source review pending

₹91.7-44.5%1Y

Beta

1.74

Amplifies index moves

Volatility (1y)

50%

Annualised, daily returns

RSI (14)

33.6

Neither overbought nor oversold

Rel. strength (1y)

-54.4%

Behind the market

Beta is measured against NIFTY 50 over three years of weekly returns — 1 moves with the index, above 1 amplifies it, below 1 damps it.

Quick read

rule-based

Pros

+Revenue CAGR of 130.4% over the last 5 years

Cons

−Thin operating margin of 4.4%
−Weak interest coverage of 1.4×
−Expensive at 424.4× trailing earnings

Research score

Structured signal from quality, growth, valuation and momentum.

20/100

Business quality: 19
Growth: 33
Valuation: 25
Momentum

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.

Part ofNIFTY MICROCAP 250 NIFTY TOTAL MARKET

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

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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
	169	25	219	698	357	1,133	1,593
COGS	28	-224	127	1,263	14	1,053	1,084
Gross profit	142	—	93	-565	344	80	509
	377	358	219	125	194	173	484
	-236	-109	-126	-690	150	-93	25
OPM %	-139.3%	-445.4%	-57.5%	-98.8%	41.9%	-8.2%	1.6%
Depreciation	1	1	1	0	26	53	6
Interest	254	334	286	54	83	93	99
	97	283	555	684	1,331	48	133
Profit before tax	-393	-162	143	-61	1,372	-191	53
Tax	41	5	121	29	55	-73	26
Tax %	10.3%	3.1%	84.7%	48.7%	4%	-38.1%	48.9%
	-434	-167	22	-90	1,317	-118	27
PAT margin %	-256.6%	-679.4%	9.9%	-12.9%	368.5%	-10.4%	1.7%
EPS (₹)	-17	-7	1.1	-2.9	29.6	-2.3	0.5
EPS adjusted (₹)	—	-7	1	-2.6	24.5	-2.3	0.5
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	—

₹ Cr	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity capital	243	259	352	538	538	542
Reserves	1,093	—	1,785	4,477	4,355	3,549
Minority interest	—	—	—	71	79	—
	1,857	—	2,666	2,025	1,897	747
	4,147	—	3,644	2,052	1,678	1,520
Total equity & liabilities	7,339	—	8,448	9,163	8,547	6,359
	152	8	72	2,342	2,338	71
CWIP	0	—	0	10	6	0
Investments	1,395	—	1,728	886	1,378	455
	5,793	—	6,648	5,925	4,825	5,833
Total assets	7,339	—	8,448	9,163	8,547	6,359

₹ Cr	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	95	-267	96	237	540	939
	-165	275	-200	484	-689	-336
	75	86	52	18	-595	-580
Net cash flow	5	94	-52	739	-743	22
Free cash flow	95	-287	96	184	493	925
CFO / Operating profit %	—	—	—	151.8%	—	—

Segment results

As reported in NSE results XBRL. Segment result is before tax and finance costs. ROCE uses that annual result divided by segment assets less liabilities.

Source XBRL ↗

Latest reported period · 31 Mar 2025 · ₹ crore

Segment	Revenue	Result	Assets	Liabilities	Capital employed	ROCE %
Real Estate Business	766.58	-185.65	2,159.95	2,714.32	—	—
Hospitality Business*	366.5	83.78

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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 %	83.6%	—	42.3%	-80.9%	96.2%	7.1%	32%
EBITDA margin %	-136.7%	-361%	-34.1%	-102.8%	43.6%	-8.6%	4.4%
EBIT margin %	-137.4%	-366.4%	-34.4%	-102.9%	36.3%	-13.2%	4%
PAT margin %	-256.6%	-679.4%	9.9%	-12.9%	368.5%	-10.4%	1.7%
Working capital
Receivable days	—	1,109	—	36	84	81	64
Inventory days	—	7,677	—	746	78,591	808	490
Payable days	—	392	—	27	3,405	71	18
NWC days	—	8,394	—	755	75,271	818	537
Leverage
Current ratio	—	1.73	—	1.36	2.2	1.88	1.45
Debt to EBITDA	—	—	—	—	12.99	—	10.72
Debt to equity	—	1.39	—	1.25	0.4	0.39	0.18
Interest coverage	-0.5	0.1	-0.1	-11.2	16.6	-1.1	1.4
Asset turnover	—	0	—	0.08	0.04	0.13	0.25
Return ratios
Return on assets %	—	-2.3%	—	-1.1%	14.4%	-1.4%	0.4%
Return on capital employed %	—	0.4%	—	-10.8%	21.6%	-1.5%	2.4%
Return on equity %	—	-12.5%	—	-4.2%	26.3%	-2.4%	0.7%

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.

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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
	53.82%	50.89%	47.44%	47.33%	47.38%	47.37%	47.37%	47.43%	47.43%	47.45%	47.17%	47.17%
	2.17%	2.14%	5.22%	3.6%	3.46%	3.57%	4.67%	5.45%	5.17%	4.99%	5.07%	4.79%
	0.06%	0.16%	0.76%	0.55%	0.42%	0.43%	0.38%	0.5%	0.51%	0.44%	0.29%	0.39%
Government	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	43.95%	46.81%	46.58%	48.52%	48.74%	48.63%	47.58%	46.62%	46.89%	47.12%	47.47%	47.65%
No. of shareholders	—	—	—	—	—	—	—	—	92,775	91,257	89,122	86,800

Promoter holding down 6.65 percentage points since Sep 2023.

4 disclosures

Person	Deal	Shares	Value	Holding	Filed
Subramanian K. Mudaliar	SellMarket Sale	500	₹86,527	0.00% → 0.00%	12 Sept 20257(2)
Avinash B ManeEmployees/Designated Employees	SellMarket Sale	250	₹42,250	0.00%

28 deals · 14 Aug 2023 – 2 Apr 2025

Date	Client	Type	Venue	Side	Quantity	Price	Value
2 Apr 2025	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Sell	39,71,969	₹169.59	₹67.36 Cr
2 Apr 2025	GRAVITON RESEARCH CAPITAL LLP	Bulk	NSE	Buy	39,71,969	₹169.60	₹67.36 Cr
11 Dec 2024	SALTORO ALPHA LP	Block	BSE	Buy	16,22,028	₹179.15	₹29.06 Cr
11 Dec 2024	COPTHALL MAURITIUS INVESTMENT LIMITED	Block	BSE	Sell	16,22,028	₹179.15	₹29.06 Cr
22 Mar 2024	PINNACLE INVESTMENTS	Bulk	NSE	Sell	30,00,000	₹205.37	₹61.61 Cr
25 Jan 2024	TRINITY OPPORTUNITY FUND I	Block	NSE	Sell	34,82,865	₹253.05	₹88.13 Cr
25 Jan 2024	GRIFFIN GROWTH FUND VCC	Block	NSE	Buy	34,82,865	₹253.05	₹88.13 Cr
25 Jan 2024	TRINITY OPPORTUNITY FUND I	Bulk	NSE	Sell	34,82,865	₹253.05	₹88.13 Cr
25 Jan 2024	GRIFFIN GROWTH FUND VCC	Bulk	NSE	Buy	34,82,865	₹253.05	₹88.13 Cr
16 Jan 2024	PINNACLE INVESTMENTS	Bulk	NSE	Sell	21,43,904	₹233.65	₹50.09 Cr

1–10 of 28

1 / 3

Mr. Vinod Kumar GoenkaExecutive Director-Chairperson related to Promoter-MD
Mr. Shahid Usman BalwaExecutive Director-MD
Mr. Sundaram Vidyatheertha RajagopalNon-Executive - Independent Director-Shareholder Director
Mr. Rajeev RANon-Executive - Independent Director-Shareholder Director
Ms. Maryam KhanNon-Executive - Independent Director-Shareholder Director
Mr. Nabil Yusuf PatelExecutive Director
Mr. Atul BhatnagarChief Financial Officer
Jignesh ShahVice President , Company Secretary & Compliance Officer

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

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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.

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Fund holders

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

Portfolio month

Schemes holding

across 2 fund houses

Held by these funds

0.12%

of the company's equity

All mutual funds

0.13%

shareholding pattern, Jun 2026

Portfolios as of

August 2026

compared with July 2026

2 schemes · 2 fund houses

		Shares
(Investment Manager for Motilal Oswal Mutual Fund)	Motilal Oswal Mutual Fund	6.36 L	6.6	0.26%	0.117%	-13,935
IB18-Groww Nifty Total Market Index Fund	Groww Mutual Fund	4,357	0.05	0.01%	0.001%	+20

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Documents

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

Announcements

Annual reports

Documents link to external sources (exchange filings, company investor pages).

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Events

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

1

Board meeting to consider results14 Aug 2026

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Announcements

Latest exchange announcements, filings and downloadable documents.

1 month 3 months 6 months 1 year All

103 announcementsExport CSV

14 Aug 2026, 5:57 pmResult

Unaudited Standalone And Consolidated Financial Results For The Quarter And Three Months Ended On 30Th June, 2026

Financial Results PDF

14 Aug 2026, 5:50 pmBoard Meeting

Board Meeting Outcome for Outcome Of The Board Meeting Held On 14.08.2026

Outcome of Board Meeting PDF

11 Aug 2026, 6:51 pmBoard Meeting

Board Meeting Intimation for Consideration And Approval Of The Unaudited Standalone And Consolidated Financial Results Of The Company For The First Quarter And Three Months Ended On 30Th June, 2026.

Exchange filing PDF

29 Jul 2026, 8:00 amCompany Update

Disclosure Under Regulation 30 (LODR)-Update On Letter Of Award For Development Of An International Convention Centre, Convention Hotel And Associated Downstream Facilities At Dona Paula, Goa .

General PDF

10 Jul 2026, 5:51 pmAGM/EGM

Valor Estate Ltd - 533160 - Shareholder Meeting / Postal Ballot-Scrutinizer"s Report

Postal Ballot PDF

7 Jul 2026, 4:25 pmCompany Update

Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018

Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018 PDF

30 Jun 2026, 3:54 pmInsider Trading / SAST

Closure of Trading Window

Closure of Trading Window PDF

10 Jun 2026, 12:35 pmCompany Update

Announcement under Regulation 30 (LODR)-Newspaper Publication

Newspaper Publication PDF

Date	Category	Subject	Filing
14 Aug 2026, 5:57 pm	Result Financial Results	Unaudited Standalone And Consolidated Financial Results For The Quarter And Three Months Ended On 30Th June, 2026	PDF
14 Aug 2026, 5:50 pm	Board Meeting Outcome of Board Meeting	Board Meeting Outcome for Outcome Of The Board Meeting Held On 14.08.2026

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Valor Estate Limited

Valor Estate Limited

About

Key insights

Key risks

Growth drivers

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Segment results

Ratios

Shareholding

F&O

Not in the F&O segment

Fund holders

Documents

Announcements

Annual reports

Events

1

Announcements

Not in the F&O segment

1

Announcements

Annual reports

Segment results

Compounded sales growth

Stock price CAGR

Return on equity

Hospitality Business · revenue

Valor Estate Limited

Valor Estate Limited

About

Key insights

Key risks

Growth drivers

Risk & technicals

Quick read

Pros

Cons

Research score

Revenue & net profit

Margins

Peers

Financials

Profit & loss

Balance sheet

Cash flow

Segment results

Ratios

Ratio timeline

Shareholding

Quarterly record

Insider dealing

Bulk & block deals

Board and management

F&O

Not in the F&O segment

Fund holders

Documents

Announcements

Annual reports

Events

Board meetings1

Announcements

Not in the F&O segment

Board meetings1

Ratio timeline

Announcements

Annual reports

Quarterly record

Insider dealing

Bulk & block deals

Board and management

Profit & loss

Balance sheet

Cash flow

Segment results

Compounded returns

Compounded sales growth

Stock price CAGR

Return on equity

Hospitality Business · revenue

1

1