# Realty - Construction & Contracting — company-by-company sector analysis

> Realty - Construction & Contracting: Puravankara Ltd owns the largest revenue base; Arihant Foundations & Housing Ltd has the fastest current growth.

Sector Alpha — machine-written from the numbers. Data as of 2026-07-29. Not investment advice.

## Bottom line

The 52-week sector comparison is unavailable. 9 of 26 covered companies currently have positive Mansfield relative strength versus NIFTY 500. Puravankara Ltd leads with revenue of ₹3,739 crore, based on 25 of 26 comparable companies through Mar 2026. Arihant Foundations & Housing Ltd has the fastest current revenue growth at 100%, across 25 of 26 comparable companies.

### Is the Realty - Construction & Contracting sector outperforming NIFTY 500?

The 52-week sector comparison is unavailable. 9 of 26 covered companies currently have positive Mansfield relative strength versus NIFTY 500.

### Which Realty - Construction & Contracting company is largest by revenue?

Puravankara Ltd leads with revenue of ₹3,739 crore, based on 25 of 26 comparable companies through Mar 2026.

### Which Realty - Construction & Contracting company is growing fastest?

Arihant Foundations & Housing Ltd has the fastest current revenue growth at 100%, across 25 of 26 comparable companies.

### Which Realty - Construction & Contracting company has the strongest 4-Factor Sector Score?

Ashiana Housing Ltd ranks first at 64.8/100 with 95.6% evidence confidence. The score prioritizes research; it is not a buy recommendation.

### Which Realty - Construction & Contracting company reports the most CAPEX?

Valor Estate Ltd reports the largest latest CAPEX at ₹42 crore, with 3 of 26 companies comparable.

### Which Realty - Construction & Contracting company has the least gross debt?

Geecee Ventures Ltd has the lowest comparable gross debt at ₹0 crore. Puravankara Ltd has the highest at ₹5,595 crore.

### Which Realty - Construction & Contracting company has the lowest comparable PEG?

Ganesh Housing Ltd has the lowest comparable Guarded PEG at 0.31, among 6 of 26 companies that pass the metric’s comparability rules.

### How much history does this Realty - Construction & Contracting comparison include?

The page compares up to 20 reported quarters per company for fundamentals, CAPEX, debt and valuation, ending Jun 2026. Missing observations remain blank rather than being estimated.

### How is the 4-Factor Sector Score calculated?

The four visible contributions add directly: growth and earnings up to 35 points, capital efficiency up to 25, valuation up to 20, and relative strength up to 20. Missing or stale evidence moves only the affected contribution toward neutral.

## Sector relative strength

The 52-week comparison of Realty - Construction & Contracting against NIFTY 500 is not available from the current market series. 9 of 26 covered companies currently beat NIFTY on Mansfield relative strength, so leadership inside the sector is selective. Eldeco Housing & Industries Ltd is the strongest against the sector itself at +28.2%. Readings are as of 2026-07-19.

13-week sector return versus NIFTY 500: —
52-week sector return versus NIFTY 500: —
Stocks leading NIFTY: 9/26
Stocks leading sector: 11/26

Central tension: The central tension: the companies with the most scale are not necessarily the companies creating the most change.

Companies: 26
Combined market value: ₹80.0K Cr

## 4-Factor Sector Score

An additive sector-relative research score. The four displayed point contributions always equal the total: Growth & earnings (35), Capital efficiency (25), Valuation (20), and Relative strength (20). Missing or stale evidence is absorbed inside the affected factor, never applied as a hidden adjustment.

1. Ashiana Housing Ltd (ASHIANA): 65/100 — Mixed-positive evidence; evidence 96%
   - Growth & earnings 26.4/35 | Capital efficiency 14.4/25 | Valuation 5.5/20 | Relative strength 18.5/20
   - Exact sum: 26.4 + 14.4 + 5.5 + 18.5 = 64.8
   - Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
2. AGI Infra Ltd (AGIIL): 63/100 — Mixed-positive evidence; evidence 89%
   - Growth & earnings 20.2/35 | Capital efficiency 18.9/25 | Valuation 10.8/20 | Relative strength 12.8/20
   - Exact sum: 20.2 + 18.9 + 10.8 + 12.8 = 62.7
   - Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
3. Kesar India Ltd (543542): 62/100 — Mixed-positive evidence; evidence 68%
   - Growth & earnings 18.4/35 | Capital efficiency 20.1/25 | Valuation 8.8/20 | Relative strength 14.5/20
   - Exact sum: 18.4 + 20.1 + 8.8 + 14.5 = 61.8
   - Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
4. Shriram Properties Ltd (SHRIRAMPPS): 61/100 — Mixed-positive evidence; evidence 83%
   - Growth & earnings 23.4/35 | Capital efficiency 11.3/25 | Valuation 12.9/20 | Relative strength 13.0/20
   - Exact sum: 23.4 + 11.3 + 12.9 + 13 = 60.6
   - Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
5. Capacite Infraprojects Ltd (CAPACITE): 57/100 — Mixed-positive evidence; evidence 77%
   - Growth & earnings 18.0/35 | Capital efficiency 17.7/25 | Valuation 13.8/20 | Relative strength 7.1/20
   - Exact sum: 18 + 17.7 + 13.8 + 7.1 = 56.6
   - Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
6. Arihant Foundations & Housing Ltd (ARIHANT): 56/100 — Mixed-positive evidence; evidence 77%
   - Growth & earnings 18.7/35 | Capital efficiency 15.0/25 | Valuation 10.8/20 | Relative strength 11.3/20
   - Exact sum: 18.7 + 15 + 10.8 + 11.3 = 55.8
   - Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
7. Hubtown Ltd (HUBTOWN): 56/100 — Mixed-positive evidence; evidence 73%
   - Growth & earnings 25.3/35 | Capital efficiency 14.2/25 | Valuation 10.3/20 | Relative strength 5.9/20
   - Exact sum: 25.3 + 14.2 + 10.3 + 5.9 = 55.7
   - Decision use: Acceleration candidate, not a confirmed leader: earnings are strong but sector-relative strength is -10.6% and the one-year return is -30.9%. Do not upgrade until sector-relative strength is above zero and another reported period confirms growth.
8. Sunteck Realty Ltd (SUNTECK): 55/100 — Mixed-positive evidence; evidence 93%
   - Growth & earnings 25.7/35 | Capital efficiency 11.8/25 | Valuation 13.9/20 | Relative strength 3.4/20
   - Exact sum: 25.7 + 11.8 + 13.9 + 3.4 = 54.8
   - Decision use: Acceleration candidate, not a confirmed leader: earnings are strong but sector-relative strength is -18.1% and the one-year return is -26.4%. Do not upgrade until sector-relative strength is above zero and another reported period confirms growth.
9. Geecee Ventures Ltd (GEECEE): 55/100 — Mixed-positive evidence; evidence 83%
   - Growth & earnings 14.8/35 | Capital efficiency 13.8/25 | Valuation 10.0/20 | Relative strength 16.0/20
   - Exact sum: 14.8 + 13.8 + 10 + 16 = 54.6
   - Decision use: Price leads the evidence: RS versus the benchmark is 3.3%, but earnings trajectory is weak. Wait for revenue and profit confirmation.
10. Eldeco Housing & Industries Ltd (ELDEHSG): 52/100 — Mixed-positive evidence; evidence 77%
   - Growth & earnings 18.2/35 | Capital efficiency 13.0/25 | Valuation 6.7/20 | Relative strength 13.7/20
   - Exact sum: 18.2 + 13 + 6.7 + 13.7 = 51.6
   - Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
11. Raymond Ltd (RAYMOND): 51/100 — Mixed-positive evidence; evidence 66%
   - Growth & earnings 19.1/35 | Capital efficiency 11.7/25 | Valuation 11.5/20 | Relative strength 8.8/20
   - Exact sum: 19.1 + 11.7 + 11.5 + 8.8 = 51.1
   - Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
12. Suratwwala Business Group Ltd (SBGLP): 50/100 — Thin evidence · provisional; evidence 56%
   - Growth & earnings 18.3/35 | Capital efficiency 12.0/25 | Valuation 14.1/20 | Relative strength 5.8/20
   - Exact sum: 18.3 + 12 + 14.1 + 5.8 = 50.2
   - Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
13. Ajmera Realty & Infra India Ltd (AJMERA): 50/100 — Mixed-negative evidence; evidence 73%
   - Growth & earnings 20.5/35 | Capital efficiency 15.7/25 | Valuation 10.1/20 | Relative strength 3.6/20
   - Exact sum: 20.5 + 15.7 + 10.1 + 3.6 = 49.9
   - Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
14. Puravankara Ltd (PURVA): 48/100 — Thin evidence · provisional; evidence 59%
   - Growth & earnings 24.0/35 | Capital efficiency 8.9/25 | Valuation 9.1/20 | Relative strength 6.4/20
   - Exact sum: 24 + 8.9 + 9.1 + 6.4 = 48.4
   - Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
15. Suraj Estate Developers Ltd (SURAJEST): 48/100 — Mixed-negative evidence; evidence 83%
   - Growth & earnings 15.7/35 | Capital efficiency 15.9/25 | Valuation 14.1/20 | Relative strength 2.2/20
   - Exact sum: 15.7 + 15.9 + 14.1 + 2.2 = 47.9
   - Decision use: Cheap but unconfirmed: require improving earnings before treating the valuation as an opportunity.
16. Arvind SmartSpaces Ltd (ARVSMART): 48/100 — Mixed-negative evidence; evidence 79%
   - Growth & earnings 13.3/35 | Capital efficiency 14.4/25 | Valuation 9.1/20 | Relative strength 10.7/20
   - Exact sum: 13.3 + 14.4 + 9.1 + 10.7 = 47.5
   - Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
17. Hemisphere Properties India Ltd (HEMIPROP): 47/100 — Mixed-negative evidence; evidence 62%
   - Growth & earnings 18.9/35 | Capital efficiency 5.3/25 | Valuation 10.0/20 | Relative strength 13.0/20
   - Exact sum: 18.9 + 5.3 + 10 + 13 = 47.2
   - Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
18. Ganesh Housing Ltd (GANESHHOU): 44/100 — Mixed-negative evidence; evidence 94%
   - Growth & earnings 4.2/35 | Capital efficiency 19.3/25 | Valuation 12.8/20 | Relative strength 8.1/20
   - Exact sum: 4.2 + 19.3 + 12.8 + 8.1 = 44.4
   - Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
19. Valor Estate Ltd (DBREALTY): 44/100 — Mixed-negative evidence; evidence 81%
   - Growth & earnings 19.0/35 | Capital efficiency 10.1/25 | Valuation 4.4/20 | Relative strength 10.0/20
   - Exact sum: 19 + 10.1 + 4.4 + 10 = 43.5
   - Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
20. PVP Ventures Ltd (PVP): 43/100 — Mixed-negative evidence; evidence 65%
   - Growth & earnings 20.1/35 | Capital efficiency 6.2/25 | Valuation 10.0/20 | Relative strength 6.7/20
   - Exact sum: 20.1 + 6.2 + 10 + 6.7 = 43
   - Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
21. Keystone Realtors Ltd (RUSTOMJEE): 35/100 — Mixed-negative evidence; evidence 73%
   - Growth & earnings 12.8/35 | Capital efficiency 9.8/25 | Valuation 6.3/20 | Relative strength 6.2/20
   - Exact sum: 12.8 + 9.8 + 6.3 + 6.2 = 35.1
   - Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
22. Omaxe Ltd (OMAXE): 35/100 — Thin evidence · provisional; evidence 59%
   - Growth & earnings 8.6/35 | Capital efficiency 1.6/25 | Valuation 10.0/20 | Relative strength 14.6/20
   - Exact sum: 8.6 + 1.6 + 10 + 14.6 = 34.8
   - Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.
23. Peninsula Land Ltd (PENINLAND): 33/100 — Adverse evidence; evidence 65%
   - Growth & earnings 13.0/35 | Capital efficiency 5.3/25 | Valuation 10.0/20 | Relative strength 4.9/20
   - Exact sum: 13 + 5.3 + 10 + 4.9 = 33.2
   - Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
24. SignatureGlobal India Ltd (SIGNATURE): 31/100 — Adverse evidence; evidence 86%
   - Growth & earnings 15.8/35 | Capital efficiency 4.3/25 | Valuation 5.1/20 | Relative strength 6.0/20
   - Exact sum: 15.8 + 4.3 + 5.1 + 6 = 31.2
   - Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
25. Kolte Patil Developers Ltd (KOLTEPATIL): 31/100 — Adverse evidence; evidence 70%
   - Growth & earnings 3.6/35 | Capital efficiency 6.1/25 | Valuation 10.0/20 | Relative strength 11.4/20
   - Exact sum: 3.6 + 6.1 + 10 + 11.4 = 31.1
   - Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
26. Laxmi Goldorna House Ltd (LGHL): 49/100 — Thin evidence · provisional; evidence 48%
   - Growth & earnings 16.3/35 | Capital efficiency 13.4/25 | Valuation 9.0/20 | Relative strength 10.7/20
   - Exact sum: 16.3 + 13.4 + 9 + 10.7 = 49.4
   - Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.

## Revenue Scale & Growth Durability

What the numbers say: Puravankara Ltd is the scale leader at ₹3,739 crore, 42% ahead of Keystone Realtors Ltd. Arihant Foundations & Housing Ltd's growth is stored at the ≥100% scoring cap; the uncapped TTM change is 103.6% from a ₹420 crore base, with 14 reported observations in the 20-quarter window. Treat the growth leader as an acceleration candidate, not as equally proven scale.

Investor read: Puravankara Ltd is the scale benchmark; Arihant Foundations & Housing Ltd is the acceleration watch. Promote the challenger only if growth persists and converts into margin and returns.

This conclusion weakens if: Puravankara Ltd's growth falls below Arihant Foundations & Housing Ltd's for two consecutive comparable reports while operating margin also compresses.

Evidence: Puravankara Ltd · ₹3,739 crore | 42% versus #2 · Keystone Realtors Ltd | 5/8 recent comparable periods | 25/26 companies · 393 observations

Definition: Revenue is compared on a common reported-currency basis. Growth is year-on-year, so seasonality does not masquerade as progress.

### Revenue — largest
1. Puravankara Ltd (PURVA): ₹3.7K Cr
2. Keystone Realtors Ltd (RUSTOMJEE): ₹2.6K Cr
3. Capacite Infraprojects Ltd (CAPACITE): ₹2.6K Cr
4. SignatureGlobal India Ltd (SIGNATURE): ₹2.6K Cr
5. Raymond Ltd (RAYMOND): ₹2.2K Cr

### Revenue growth — fastest growers
1. Arihant Foundations & Housing Ltd (ARIHANT): 100%
2. Ashiana Housing Ltd (ASHIANA): 100%
3. PVP Ventures Ltd (PVP): 100%
4. Suratwwala Business Group Ltd (SBGLP): 100% — older report
5. Kesar India Ltd (543542): 92%

### 20-quarter Revenue history
- 543542: Sep 2021 — | Dec 2021 — | Mar 2022 ₹-7 Cr | Jun 2022 — | Sep 2022 ₹1 Cr | Dec 2022 — | Mar 2023 ₹14 Cr | Jun 2023 — | Sep 2023 ₹21 Cr | Dec 2023 — | Mar 2024 ₹32 Cr | Jun 2024 — | Sep 2024 ₹51 Cr | Dec 2024 ₹17 Cr | Mar 2025 ₹41 Cr | Jun 2025 — | Sep 2025 ₹15 Cr | Dec 2025 ₹92 Cr | Mar 2026 ₹85 Cr | Jun 2026 —
- SIGNATURE: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 ₹542 Cr | Sep 2022 ₹124 Cr | Dec 2022 ₹183 Cr | Mar 2023 ₹705 Cr | Jun 2023 ₹166 Cr | Sep 2023 ₹99 Cr | Dec 2023 ₹282 Cr | Mar 2024 ₹694 Cr | Jun 2024 ₹401 Cr | Sep 2024 ₹749 Cr | Dec 2024 ₹828 Cr | Mar 2025 ₹520 Cr | Jun 2025 ₹866 Cr | Sep 2025 ₹338 Cr | Dec 2025 ₹284 Cr | Mar 2026 ₹1.1K Cr | Jun 2026 —
- GANESHHOU: Sep 2021 ₹73 Cr | Dec 2021 ₹76 Cr | Mar 2022 ₹155 Cr | Jun 2022 ₹43 Cr | Sep 2022 ₹328 Cr | Dec 2022 ₹67 Cr | Mar 2023 ₹179 Cr | Jun 2023 ₹270 Cr | Sep 2023 ₹163 Cr | Dec 2023 ₹181 Cr | Mar 2024 ₹277 Cr | Jun 2024 ₹214 Cr | Sep 2024 ₹237 Cr | Dec 2024 ₹257 Cr | Mar 2025 ₹251 Cr | Jun 2025 ₹151 Cr | Sep 2025 ₹174 Cr | Dec 2025 ₹91 Cr | Mar 2026 ₹95 Cr | Jun 2026 ₹280 Cr
- DBREALTY: Sep 2021 ₹9 Cr | Dec 2021 ₹8 Cr | Mar 2022 ₹196 Cr | Jun 2022 ₹7 Cr | Sep 2022 ₹10 Cr | Dec 2022 ₹623 Cr | Mar 2023 ₹58 Cr | Jun 2023 ₹2 Cr | Sep 2023 ₹68 Cr | Dec 2023 ₹143 Cr | Mar 2024 ₹144 Cr | Jun 2024 ₹7 Cr | Sep 2024 ₹3 Cr | Dec 2024 ₹330 Cr | Mar 2025 ₹537 Cr | Jun 2025 ₹840 Cr | Sep 2025 ₹137 Cr | Dec 2025 ₹529 Cr | Mar 2026 ₹87 Cr | Jun 2026 —
- PURVA: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 ₹55 Cr | Dec 2022 ₹392 Cr | Mar 2023 ₹389 Cr | Jun 2023 ₹323 Cr | Sep 2023 ₹368 Cr | Dec 2023 ₹574 Cr | Mar 2024 ₹920 Cr | Jun 2024 ₹658 Cr | Sep 2024 ₹496 Cr | Dec 2024 ₹318 Cr | Mar 2025 ₹542 Cr | Jun 2025 ₹524 Cr | Sep 2025 ₹644 Cr | Dec 2025 ₹1.1K Cr | Mar 2026 ₹1.5K Cr | Jun 2026 —
- RUSTOMJEE: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 ₹127 Cr | Mar 2023 ₹344 Cr | Jun 2023 ₹272 Cr | Sep 2023 ₹618 Cr | Dec 2023 ₹521 Cr | Mar 2024 ₹812 Cr | Jun 2024 ₹422 Cr | Sep 2024 ₹533 Cr | Dec 2024 ₹464 Cr | Mar 2025 ₹585 Cr | Jun 2025 ₹273 Cr | Sep 2025 ₹499 Cr | Dec 2025 ₹266 Cr | Mar 2026 ₹1.6K Cr | Jun 2026 —
- SUNTECK: Sep 2021 ₹136 Cr | Dec 2021 ₹128 Cr | Mar 2022 ₹156 Cr | Jun 2022 ₹144 Cr | Sep 2022 ₹81 Cr | Dec 2022 ₹89 Cr | Mar 2023 ₹49 Cr | Jun 2023 ₹71 Cr | Sep 2023 ₹25 Cr | Dec 2023 ₹42 Cr | Mar 2024 ₹427 Cr | Jun 2024 ₹316 Cr | Sep 2024 ₹169 Cr | Dec 2024 ₹162 Cr | Mar 2025 ₹206 Cr | Jun 2025 ₹188 Cr | Sep 2025 ₹252 Cr | Dec 2025 ₹344 Cr | Mar 2026 ₹339 Cr | Jun 2026 ₹192 Cr
- RAYMOND: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 ₹2.2K Cr | Mar 2023 ₹2.2K Cr | Jun 2023 ₹473 Cr | Sep 2023 ₹470 Cr | Dec 2023 ₹678 Cr | Mar 2024 ₹266 Cr | Jun 2024 ₹450 Cr | Sep 2024 ₹474 Cr | Dec 2024 ₹466 Cr | Mar 2025 ₹557 Cr | Jun 2025 ₹524 Cr | Sep 2025 ₹528 Cr | Dec 2025 ₹557 Cr | Mar 2026 ₹603 Cr | Jun 2026 —
- AGIIL: Sep 2021 ₹56 Cr | Dec 2021 ₹51 Cr | Mar 2022 ₹54 Cr | Jun 2022 ₹56 Cr | Sep 2022 ₹58 Cr | Dec 2022 ₹61 Cr | Mar 2023 ₹66 Cr | Jun 2023 ₹69 Cr | Sep 2023 ₹71 Cr | Dec 2023 ₹73 Cr | Mar 2024 ₹80 Cr | Jun 2024 ₹73 Cr | Sep 2024 ₹78 Cr | Dec 2024 ₹91 Cr | Mar 2025 ₹83 Cr | Jun 2025 ₹92 Cr | Sep 2025 ₹85 Cr | Dec 2025 ₹88 Cr | Mar 2026 ₹88 Cr | Jun 2026 —
- ASHIANA: Sep 2021 ₹58 Cr | Dec 2021 ₹45 Cr | Mar 2022 ₹67 Cr | Jun 2022 ₹78 Cr | Sep 2022 ₹85 Cr | Dec 2022 ₹130 Cr | Mar 2023 ₹111 Cr | Jun 2023 ₹121 Cr | Sep 2023 ₹346 Cr | Dec 2023 ₹184 Cr | Mar 2024 ₹290 Cr | Jun 2024 ₹123 Cr | Sep 2024 ₹55 Cr | Dec 2024 ₹133 Cr | Mar 2025 ₹218 Cr | Jun 2025 ₹293 Cr | Sep 2025 ₹166 Cr | Dec 2025 ₹362 Cr | Mar 2026 ₹323 Cr | Jun 2026 —
- HEMIPROP: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 ₹2 Cr | Sep 2022 ₹0 Cr | Dec 2022 ₹0 Cr | Mar 2023 ₹0 Cr | Jun 2023 ₹0 Cr | Sep 2023 ₹0 Cr | Dec 2023 ₹0 Cr | Mar 2024 ₹0 Cr | Jun 2024 ₹0 Cr | Sep 2024 ₹0 Cr | Dec 2024 ₹0 Cr | Mar 2025 ₹0 Cr | Jun 2025 ₹0 Cr | Sep 2025 ₹0 Cr | Dec 2025 ₹0 Cr | Mar 2026 ₹0 Cr | Jun 2026 —
- KOLTEPATIL: Sep 2021 ₹304 Cr | Dec 2021 ₹245 Cr | Mar 2022 ₹362 Cr | Jun 2022 ₹204 Cr | Sep 2022 ₹138 Cr | Dec 2022 ₹368 Cr | Mar 2023 ₹797 Cr | Jun 2023 ₹571 Cr | Sep 2023 ₹198 Cr | Dec 2023 ₹76 Cr | Mar 2024 ₹526 Cr | Jun 2024 ₹341 Cr | Sep 2024 ₹308 Cr | Dec 2024 ₹350 Cr | Mar 2025 ₹719 Cr | Jun 2025 ₹82 Cr | Sep 2025 ₹139 Cr | Dec 2025 ₹265 Cr | Mar 2026 ₹249 Cr | Jun 2026 —
- ARVSMART: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 ₹53 Cr | Mar 2023 ₹93 Cr | Jun 2023 ₹67 Cr | Sep 2023 ₹73 Cr | Dec 2023 ₹84 Cr | Mar 2024 ₹117 Cr | Jun 2024 ₹74 Cr | Sep 2024 ₹266 Cr | Dec 2024 ₹210 Cr | Mar 2025 ₹163 Cr | Jun 2025 ₹102 Cr | Sep 2025 ₹141 Cr | Dec 2025 ₹166 Cr | Mar 2026 ₹155 Cr | Jun 2026 —
- HUBTOWN: Sep 2021 ₹32 Cr | Dec 2021 ₹26 Cr | Mar 2022 ₹108 Cr | Jun 2022 ₹76 Cr | Sep 2022 ₹35 Cr | Dec 2022 ₹120 Cr | Mar 2023 ₹82 Cr | Jun 2023 ₹65 Cr | Sep 2023 ₹56 Cr | Dec 2023 ₹31 Cr | Mar 2024 ₹106 Cr | Jun 2024 ₹120 Cr | Sep 2024 ₹99 Cr | Dec 2024 ₹92 Cr | Mar 2025 ₹97 Cr | Jun 2025 ₹187 Cr | Sep 2025 ₹209 Cr | Dec 2025 ₹88 Cr | Mar 2026 ₹160 Cr | Jun 2026 —
- AJMERA: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 ₹79 Cr | Mar 2023 ₹114 Cr | Jun 2023 ₹116 Cr | Sep 2023 ₹145 Cr | Dec 2023 ₹207 Cr | Mar 2024 ₹232 Cr | Jun 2024 ₹194 Cr | Sep 2024 ₹200 Cr | Dec 2024 ₹193 Cr | Mar 2025 ₹151 Cr | Jun 2025 ₹258 Cr | Sep 2025 ₹219 Cr | Dec 2025 ₹182 Cr | Mar 2026 ₹431 Cr | Jun 2026 —
- CAPACITE: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 ₹443 Cr | Mar 2023 ₹447 Cr | Jun 2023 ₹430 Cr | Sep 2023 ₹422 Cr | Dec 2023 ₹481 Cr | Mar 2024 ₹599 Cr | Jun 2024 ₹570 Cr | Sep 2024 ₹518 Cr | Dec 2024 ₹590 Cr | Mar 2025 ₹671 Cr | Jun 2025 ₹589 Cr | Sep 2025 ₹646 Cr | Dec 2025 ₹675 Cr | Mar 2026 ₹712 Cr | Jun 2026 —
- OMAXE: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 ₹244 Cr | Mar 2023 ₹289 Cr | Jun 2023 ₹213 Cr | Sep 2023 ₹266 Cr | Dec 2023 ₹599 Cr | Mar 2024 ₹536 Cr | Jun 2024 ₹342 Cr | Sep 2024 ₹389 Cr | Dec 2024 ₹289 Cr | Mar 2025 ₹541 Cr | Jun 2025 ₹282 Cr | Sep 2025 ₹321 Cr | Dec 2025 ₹302 Cr | Mar 2026 ₹349 Cr | Jun 2026 —
- SHRIRAMPPS: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 ₹176 Cr | Mar 2023 ₹118 Cr | Jun 2023 ₹135 Cr | Sep 2023 ₹206 Cr | Dec 2023 ₹221 Cr | Mar 2024 ₹302 Cr | Jun 2024 ₹154 Cr | Sep 2024 ₹141 Cr | Dec 2024 ₹121 Cr | Mar 2025 ₹408 Cr | Jun 2025 ₹242 Cr | Sep 2025 ₹205 Cr | Dec 2025 ₹179 Cr | Mar 2026 ₹641 Cr | Jun 2026 —
- LGHL: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 ₹127 Cr | Jun 2024 ₹16 Cr | Sep 2024 — | Dec 2024 ₹22 Cr | Mar 2025 ₹28 Cr | Jun 2025 ₹29 Cr | Sep 2025 — | Dec 2025 — | Mar 2026 — | Jun 2026 —
- ARIHANT: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 ₹10 Cr | Mar 2023 ₹14 Cr | Jun 2023 ₹37 Cr | Sep 2023 ₹9 Cr | Dec 2023 ₹33 Cr | Mar 2024 ₹45 Cr | Jun 2024 ₹39 Cr | Sep 2024 ₹48 Cr | Dec 2024 ₹52 Cr | Mar 2025 ₹67 Cr | Jun 2025 ₹83 Cr | Sep 2025 ₹88 Cr | Dec 2025 ₹102 Cr | Mar 2026 ₹148 Cr | Jun 2026 —
- SURAJEST: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 ₹102 Cr | Sep 2023 ₹103 Cr | Dec 2023 ₹106 Cr | Mar 2024 ₹100 Cr | Jun 2024 ₹134 Cr | Sep 2024 ₹109 Cr | Dec 2024 ₹170 Cr | Mar 2025 ₹136 Cr | Jun 2025 ₹132 Cr | Sep 2025 ₹145 Cr | Dec 2025 ₹180 Cr | Mar 2026 ₹99 Cr | Jun 2026 —
- ELDEHSG: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 ₹30 Cr | Mar 2023 ₹39 Cr | Jun 2023 ₹25 Cr | Sep 2023 ₹17 Cr | Dec 2023 ₹22 Cr | Mar 2024 ₹49 Cr | Jun 2024 ₹29 Cr | Sep 2024 ₹33 Cr | Dec 2024 ₹35 Cr | Mar 2025 ₹37 Cr | Jun 2025 ₹29 Cr | Sep 2025 ₹33 Cr | Dec 2025 ₹43 Cr | Mar 2026 ₹60 Cr | Jun 2026 —
- PVP: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 ₹13 Cr | Mar 2023 ₹2 Cr | Jun 2023 ₹0 Cr | Sep 2023 ₹0 Cr | Dec 2023 ₹4 Cr | Mar 2024 ₹4 Cr | Jun 2024 ₹3 Cr | Sep 2024 ₹3 Cr | Dec 2024 ₹2 Cr | Mar 2025 ₹19 Cr | Jun 2025 ₹17 Cr | Sep 2025 ₹17 Cr | Dec 2025 ₹14 Cr | Mar 2026 ₹41 Cr | Jun 2026 —
- GEECEE: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 ₹8 Cr | Mar 2023 ₹4 Cr | Jun 2023 ₹11 Cr | Sep 2023 ₹9 Cr | Dec 2023 ₹14 Cr | Mar 2024 ₹63 Cr | Jun 2024 ₹31 Cr | Sep 2024 ₹29 Cr | Dec 2024 ₹59 Cr | Mar 2025 ₹16 Cr | Jun 2025 ₹8 Cr | Sep 2025 ₹18 Cr | Dec 2025 ₹16 Cr | Mar 2026 ₹33 Cr | Jun 2026 —
- PENINLAND: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 ₹249 Cr | Mar 2023 ₹145 Cr | Jun 2023 ₹186 Cr | Sep 2023 ₹130 Cr | Dec 2023 ₹143 Cr | Mar 2024 ₹113 Cr | Jun 2024 ₹33 Cr | Sep 2024 ₹61 Cr | Dec 2024 ₹100 Cr | Mar 2025 ₹63 Cr | Jun 2025 ₹37 Cr | Sep 2025 ₹38 Cr | Dec 2025 ₹27 Cr | Mar 2026 ₹41 Cr | Jun 2026 —
- SBGLP: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 ₹0 Cr | Sep 2022 ₹13 Cr | Dec 2022 ₹38 Cr | Mar 2023 ₹11 Cr | Jun 2023 ₹16 Cr | Sep 2023 ₹18 Cr | Dec 2023 ₹16 Cr | Mar 2024 ₹21 Cr | Jun 2024 ₹9 Cr | Sep 2024 ₹2 Cr | Dec 2024 ₹3 Cr | Mar 2025 ₹21 Cr | Jun 2025 ₹16 Cr | Sep 2025 ₹26 Cr | Dec 2025 ₹42 Cr | Mar 2026 — | Jun 2026 —

### 20-quarter Revenue growth history
- 543542: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 2,733% | Dec 2023 — | Mar 2024 123% | Jun 2024 — | Sep 2024 140% | Dec 2024 — | Mar 2025 27% | Jun 2025 — | Sep 2025 -71% | Dec 2025 441% | Mar 2026 107% | Jun 2026 —
- SIGNATURE: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 -69% | Sep 2023 -20% | Dec 2023 54% | Mar 2024 -1.6% | Jun 2024 142% | Sep 2024 657% | Dec 2024 194% | Mar 2025 -25% | Jun 2025 116% | Sep 2025 -55% | Dec 2025 -66% | Mar 2026 113% | Jun 2026 —
- GANESHHOU: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 -46% | Sep 2022 349% | Dec 2022 -12% | Mar 2023 15% | Jun 2023 528% | Sep 2023 -50% | Dec 2023 170% | Mar 2024 55% | Jun 2024 -21% | Sep 2024 45% | Dec 2024 42% | Mar 2025 -9.4% | Jun 2025 -29% | Sep 2025 -27% | Dec 2025 -65% | Mar 2026 -62% | Jun 2026 85%
- DBREALTY: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 0.0% | Sep 2022 11% | Dec 2022 7,688% | Mar 2023 -70% | Jun 2023 -71% | Sep 2023 580% | Dec 2023 -77% | Mar 2024 148% | Jun 2024 250% | Sep 2024 -96% | Dec 2024 131% | Mar 2025 273% | Jun 2025 11,900% | Sep 2025 4,467% | Dec 2025 60% | Mar 2026 -84% | Jun 2026 —
- PURVA: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 569% | Dec 2023 46% | Mar 2024 137% | Jun 2024 104% | Sep 2024 35% | Dec 2024 -45% | Mar 2025 -41% | Jun 2025 -20% | Sep 2025 30% | Dec 2025 236% | Mar 2026 177% | Jun 2026 —
- RUSTOMJEE: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 312% | Mar 2024 136% | Jun 2024 55% | Sep 2024 -14% | Dec 2024 -11% | Mar 2025 -28% | Jun 2025 -35% | Sep 2025 -6.4% | Dec 2025 -43% | Mar 2026 173% | Jun 2026 —
- SUNTECK: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 -40% | Dec 2022 -30% | Mar 2023 -69% | Jun 2023 -51% | Sep 2023 -69% | Dec 2023 -53% | Mar 2024 771% | Jun 2024 345% | Sep 2024 576% | Dec 2024 286% | Mar 2025 -52% | Jun 2025 -41% | Sep 2025 49% | Dec 2025 112% | Mar 2026 65% | Jun 2026 2.1%
- RAYMOND: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 -69% | Mar 2024 -88% | Jun 2024 -4.9% | Sep 2024 0.9% | Dec 2024 -31% | Mar 2025 109% | Jun 2025 16% | Sep 2025 11% | Dec 2025 20% | Mar 2026 8.3% | Jun 2026 —
- AGIIL: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 47% | Sep 2022 3.6% | Dec 2022 20% | Mar 2023 22% | Jun 2023 23% | Sep 2023 22% | Dec 2023 20% | Mar 2024 21% | Jun 2024 5.8% | Sep 2024 9.9% | Dec 2024 25% | Mar 2025 3.8% | Jun 2025 26% | Sep 2025 9.0% | Dec 2025 -3.3% | Mar 2026 6.0% | Jun 2026 —
- ASHIANA: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 117% | Sep 2022 47% | Dec 2022 189% | Mar 2023 66% | Jun 2023 55% | Sep 2023 307% | Dec 2023 42% | Mar 2024 161% | Jun 2024 1.7% | Sep 2024 -84% | Dec 2024 -28% | Mar 2025 -25% | Jun 2025 138% | Sep 2025 202% | Dec 2025 172% | Mar 2026 48% | Jun 2026 —
- HEMIPROP: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 -94% | Sep 2023 — | Dec 2023 44% | Mar 2024 -46% | Jun 2024 67% | Sep 2024 77% | Dec 2024 85% | Mar 2025 85% | Jun 2025 20% | Sep 2025 4.4% | Dec 2025 8.3% | Mar 2026 8.3% | Jun 2026 —
- KOLTEPATIL: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 1.5% | Sep 2022 -55% | Dec 2022 50% | Mar 2023 120% | Jun 2023 180% | Sep 2023 43% | Dec 2023 -79% | Mar 2024 -34% | Jun 2024 -40% | Sep 2024 56% | Dec 2024 361% | Mar 2025 37% | Jun 2025 -76% | Sep 2025 -55% | Dec 2025 -24% | Mar 2026 -65% | Jun 2026 —
- ARVSMART: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 58% | Mar 2024 26% | Jun 2024 10% | Sep 2024 264% | Dec 2024 150% | Mar 2025 39% | Jun 2025 38% | Sep 2025 -47% | Dec 2025 -21% | Mar 2026 -4.9% | Jun 2026 —
- HUBTOWN: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 217% | Sep 2022 10% | Dec 2022 362% | Mar 2023 -24% | Jun 2023 -14% | Sep 2023 58% | Dec 2023 -74% | Mar 2024 29% | Jun 2024 85% | Sep 2024 77% | Dec 2024 197% | Mar 2025 -8.5% | Jun 2025 56% | Sep 2025 111% | Dec 2025 -4.4% | Mar 2026 65% | Jun 2026 —
- AJMERA: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 162% | Mar 2024 104% | Jun 2024 67% | Sep 2024 38% | Dec 2024 -6.8% | Mar 2025 -35% | Jun 2025 33% | Sep 2025 9.5% | Dec 2025 -5.7% | Mar 2026 185% | Jun 2026 —
- CAPACITE: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 8.6% | Mar 2024 34% | Jun 2024 33% | Sep 2024 23% | Dec 2024 23% | Mar 2025 12% | Jun 2025 3.3% | Sep 2025 25% | Dec 2025 14% | Mar 2026 6.1% | Jun 2026 —
- OMAXE: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 145% | Mar 2024 85% | Jun 2024 61% | Sep 2024 46% | Dec 2024 -52% | Mar 2025 0.9% | Jun 2025 -18% | Sep 2025 -17% | Dec 2025 4.5% | Mar 2026 -35% | Jun 2026 —
- SHRIRAMPPS: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 26% | Mar 2024 156% | Jun 2024 14% | Sep 2024 -32% | Dec 2024 -45% | Mar 2025 35% | Jun 2025 57% | Sep 2025 45% | Dec 2025 48% | Mar 2026 57% | Jun 2026 —
- LGHL: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 -78% | Jun 2025 81% | Sep 2025 — | Dec 2025 — | Mar 2026 — | Jun 2026 —
- ARIHANT: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 225% | Mar 2024 234% | Jun 2024 4.7% | Sep 2024 427% | Dec 2024 60% | Mar 2025 48% | Jun 2025 113% | Sep 2025 82% | Dec 2025 97% | Mar 2026 119% | Jun 2026 —
- SURAJEST: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 31% | Sep 2024 5.8% | Dec 2024 60% | Mar 2025 36% | Jun 2025 -1.5% | Sep 2025 33% | Dec 2025 5.9% | Mar 2026 -27% | Jun 2026 —
- ELDEHSG: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 -28% | Mar 2024 27% | Jun 2024 17% | Sep 2024 96% | Dec 2024 60% | Mar 2025 -25% | Jun 2025 -1.7% | Sep 2025 -1.0% | Dec 2025 24% | Mar 2026 64% | Jun 2026 —
- PVP: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 -67% | Mar 2024 105% | Jun 2024 460% | Sep 2024 10,500% | Dec 2024 -43% | Mar 2025 419% | Jun 2025 583% | Sep 2025 437% | Dec 2025 463% | Mar 2026 118% | Jun 2026 —
- GEECEE: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 73% | Mar 2024 1,475% | Jun 2024 182% | Sep 2024 222% | Dec 2024 321% | Mar 2025 -75% | Jun 2025 -74% | Sep 2025 -38% | Dec 2025 -73% | Mar 2026 106% | Jun 2026 —
- PENINLAND: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 -43% | Mar 2024 -22% | Jun 2024 -82% | Sep 2024 -53% | Dec 2024 -30% | Mar 2025 -44% | Jun 2025 12% | Sep 2025 -38% | Dec 2025 -73% | Mar 2026 -35% | Jun 2026 —
- SBGLP: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 34% | Dec 2023 -58% | Mar 2024 91% | Jun 2024 -44% | Sep 2024 -89% | Dec 2024 -81% | Mar 2025 0.0% | Jun 2025 78% | Sep 2025 1,200% | Dec 2025 1,300% | Mar 2026 — | Jun 2026 —

## Operating Economics & Margin Trend

What the numbers say: Geecee Ventures Ltd leads opm at 87%; Hemisphere Properties India Ltd leads margin change at +408.3 percentage points.

Investor read: Geecee Ventures Ltd sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current margin change signal.

Evidence: Geecee Ventures Ltd · 87% | 74% versus #2 · Suraj Estate Developers Ltd | 3/8 recent comparable periods | 26/26 companies · 452 observations

Definition: Operating margin compares operating profit with revenue. Improvement is measured in percentage points, not percentage growth.

### OPM — highest
1. Geecee Ventures Ltd (GEECEE): 87%
2. Suraj Estate Developers Ltd (SURAJEST): 50%
3. Hubtown Ltd (HUBTOWN): 49%
4. Ganesh Housing Ltd (GANESHHOU): 39%
5. Arvind SmartSpaces Ltd (ARVSMART): 38%

### Margin change — fastest expanders
1. Hemisphere Properties India Ltd (HEMIPROP): +408.3 pp
2. Geecee Ventures Ltd (GEECEE): +59.0 pp
3. Suratwwala Business Group Ltd (SBGLP): +45.0 pp — older report
4. Hubtown Ltd (HUBTOWN): +40.0 pp
5. Suraj Estate Developers Ltd (SURAJEST): +28.0 pp

### 20-quarter OPM history
- 543542: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 -144% | Dec 2022 — | Mar 2023 15% | Jun 2023 — | Sep 2023 40% | Dec 2023 — | Mar 2024 19% | Jun 2024 — | Sep 2024 42% | Dec 2024 15% | Mar 2025 8.0% | Jun 2025 — | Sep 2025 19% | Dec 2025 25% | Mar 2026 24% | Jun 2026 —
- SIGNATURE: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 8.5% | Sep 2022 -57% | Dec 2022 -7.0% | Mar 2023 5.0% | Jun 2023 -6.0% | Sep 2023 -31% | Dec 2023 -2.0% | Mar 2024 3.0% | Jun 2024 0.0% | Sep 2024 -2.0% | Dec 2024 2.0% | Mar 2025 8.0% | Jun 2025 4.0% | Sep 2025 -22% | Dec 2025 -22% | Mar 2026 5.0% | Jun 2026 —
- GANESHHOU: Sep 2021 40% | Dec 2021 42% | Mar 2022 34% | Jun 2022 59% | Sep 2022 24% | Dec 2022 70% | Mar 2023 56% | Jun 2023 80% | Sep 2023 74% | Dec 2023 75% | Mar 2024 54% | Jun 2024 70% | Sep 2024 85% | Dec 2024 82% | Mar 2025 86% | Jun 2025 85% | Sep 2025 85% | Dec 2025 82% | Mar 2026 75% | Jun 2026 39%
- DBREALTY: Sep 2021 — | Dec 2021 -258% | Mar 2022 21% | Jun 2022 -187% | Sep 2022 -150% | Dec 2022 -104% | Mar 2023 -76% | Jun 2023 -376% | Sep 2023 72% | Dec 2023 56% | Mar 2024 21% | Jun 2024 -123% | Sep 2024 — | Dec 2024 5.0% | Mar 2025 -4.0% | Jun 2025 -4.0% | Sep 2025 31% | Dec 2025 17% | Mar 2026 -91% | Jun 2026 —
- PURVA: Sep 2021 34% | Dec 2021 27% | Mar 2022 13% | Jun 2022 26% | Sep 2022 9.0% | Dec 2022 28% | Mar 2023 4.0% | Jun 2023 19% | Sep 2023 23% | Dec 2023 34% | Mar 2024 12% | Jun 2024 20% | Sep 2024 23% | Dec 2024 5.0% | Mar 2025 6.0% | Jun 2025 13% | Sep 2025 16% | Dec 2025 20% | Mar 2026 20% | Jun 2026 —
- RUSTOMJEE: Sep 2021 — | Dec 2021 13% | Mar 2022 23% | Jun 2022 2.4% | Sep 2022 -18% | Dec 2022 5.8% | Mar 2023 28% | Jun 2023 23% | Sep 2023 -2.0% | Dec 2023 2.0% | Mar 2024 6.0% | Jun 2024 10% | Sep 2024 15% | Dec 2024 8.0% | Mar 2025 8.0% | Jun 2025 4.0% | Sep 2025 3.0% | Dec 2025 4.0% | Mar 2026 5.0% | Jun 2026 —
- SUNTECK: Sep 2021 26% | Dec 2021 24% | Mar 2022 3.8% | Jun 2022 32% | Sep 2022 12% | Dec 2022 20% | Mar 2023 -22% | Jun 2023 -12% | Sep 2023 -57% | Dec 2023 -35% | Mar 2024 36% | Jun 2024 10% | Sep 2024 22% | Dec 2024 30% | Mar 2025 33% | Jun 2025 25% | Sep 2025 31% | Dec 2025 24% | Mar 2026 28% | Jun 2026 35%
- RAYMOND: Sep 2021 12% | Dec 2021 15% | Mar 2022 15% | Jun 2022 12% | Sep 2022 15% | Dec 2022 14% | Mar 2023 16% | Jun 2023 9.0% | Sep 2023 9.0% | Dec 2023 8.0% | Mar 2024 4.0% | Jun 2024 7.0% | Sep 2024 5.0% | Dec 2024 7.0% | Mar 2025 8.0% | Jun 2025 10% | Sep 2025 8.0% | Dec 2025 11% | Mar 2026 12% | Jun 2026 —
- AGIIL: Sep 2021 23% | Dec 2021 26% | Mar 2022 26% | Jun 2022 25% | Sep 2022 26% | Dec 2022 26% | Mar 2023 19% | Jun 2023 25% | Sep 2023 29% | Dec 2023 26% | Mar 2024 23% | Jun 2024 30% | Sep 2024 34% | Dec 2024 31% | Mar 2025 19% | Jun 2025 33% | Sep 2025 39% | Dec 2025 43% | Mar 2026 24% | Jun 2026 —
- ASHIANA: Sep 2021 -9.7% | Dec 2021 -7.2% | Mar 2022 8.7% | Jun 2022 18% | Sep 2022 -5.5% | Dec 2022 8.0% | Mar 2023 8.0% | Jun 2023 7.0% | Sep 2023 10% | Dec 2023 18% | Mar 2024 7.0% | Jun 2024 -5.0% | Sep 2024 -22% | Dec 2024 13% | Mar 2025 8.0% | Jun 2025 4.0% | Sep 2025 18% | Dec 2025 19% | Mar 2026 6.0% | Jun 2026 —
- HEMIPROP: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 -58% | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 -961% | Dec 2024 -963% | Mar 2025 — | Jun 2025 -946% | Sep 2025 — | Dec 2025 -908% | Mar 2026 -900% | Jun 2026 —
- KOLTEPATIL: Sep 2021 17% | Dec 2021 13% | Mar 2022 10% | Jun 2022 23% | Sep 2022 -4.9% | Dec 2022 -7.0% | Mar 2023 22% | Jun 2023 16% | Sep 2023 -6.0% | Dec 2023 -53% | Mar 2024 -4.0% | Jun 2024 8.0% | Sep 2024 5.0% | Dec 2024 7.0% | Mar 2025 15% | Jun 2025 -32% | Sep 2025 -27% | Dec 2025 3.0% | Mar 2026 -2.0% | Jun 2026 —
- ARVSMART: Sep 2021 26% | Dec 2021 28% | Mar 2022 13% | Jun 2022 18% | Sep 2022 18% | Dec 2022 17% | Mar 2023 22% | Jun 2023 39% | Sep 2023 47% | Dec 2023 24% | Mar 2024 27% | Jun 2024 12% | Sep 2024 25% | Dec 2024 28% | Mar 2025 21% | Jun 2025 21% | Sep 2025 21% | Dec 2025 25% | Mar 2026 38% | Jun 2026 —
- HUBTOWN: Sep 2021 11% | Dec 2021 -62% | Mar 2022 -46% | Jun 2022 7.2% | Sep 2022 11% | Dec 2022 25% | Mar 2023 15% | Jun 2023 37% | Sep 2023 38% | Dec 2023 25% | Mar 2024 -147% | Jun 2024 12% | Sep 2024 61% | Dec 2024 36% | Mar 2025 9.0% | Jun 2025 22% | Sep 2025 15% | Dec 2025 2.0% | Mar 2026 49% | Jun 2026 —
- AJMERA: Sep 2021 24% | Dec 2021 29% | Mar 2022 22% | Jun 2022 30% | Sep 2022 30% | Dec 2022 28% | Mar 2023 27% | Jun 2023 32% | Sep 2023 26% | Dec 2023 29% | Mar 2024 29% | Jun 2024 33% | Sep 2024 30% | Dec 2024 32% | Mar 2025 29% | Jun 2025 30% | Sep 2025 26% | Dec 2025 30% | Mar 2026 25% | Jun 2026 —
- CAPACITE: Sep 2021 18% | Dec 2021 15% | Mar 2022 16% | Jun 2022 21% | Sep 2022 19% | Dec 2022 20% | Mar 2023 19% | Jun 2023 16% | Sep 2023 15% | Dec 2023 18% | Mar 2024 18% | Jun 2024 19% | Sep 2024 18% | Dec 2024 15% | Mar 2025 13% | Jun 2025 17% | Sep 2025 17% | Dec 2025 16% | Mar 2026 15% | Jun 2026 —
- OMAXE: Sep 2021 -5.9% | Dec 2021 -13% | Mar 2022 3.9% | Jun 2022 -19% | Sep 2022 -57% | Dec 2022 -42% | Mar 2023 -38% | Jun 2023 -43% | Sep 2023 -25% | Dec 2023 -6.0% | Mar 2024 -27% | Jun 2024 -44% | Sep 2024 -58% | Dec 2024 -44% | Mar 2025 -20% | Jun 2025 -60% | Sep 2025 -53% | Dec 2025 -51% | Mar 2026 -58% | Jun 2026 —
- SHRIRAMPPS: Sep 2021 -8.6% | Dec 2021 26% | Mar 2022 31% | Jun 2022 10% | Sep 2022 12% | Dec 2022 0.5% | Mar 2023 -7.0% | Jun 2023 23% | Sep 2023 14% | Dec 2023 9.0% | Mar 2024 -3.0% | Jun 2024 -2.0% | Sep 2024 -1.0% | Dec 2024 -13% | Mar 2025 12% | Jun 2025 9.0% | Sep 2025 -2.0% | Dec 2025 -10% | Mar 2026 11% | Jun 2026 —
- LGHL: Sep 2021 3.0% | Dec 2021 — | Mar 2022 3.6% | Jun 2022 — | Sep 2022 2.4% | Dec 2022 4.5% | Mar 2023 8.1% | Jun 2023 8.3% | Sep 2023 6.6% | Dec 2023 18% | Mar 2024 6.9% | Jun 2024 20% | Sep 2024 — | Dec 2024 30% | Mar 2025 19% | Jun 2025 18% | Sep 2025 — | Dec 2025 — | Mar 2026 — | Jun 2026 —
- ARIHANT: Sep 2021 -33% | Dec 2021 -4.0% | Mar 2022 19% | Jun 2022 25% | Sep 2022 35% | Dec 2022 36% | Mar 2023 -19% | Jun 2023 13% | Sep 2023 34% | Dec 2023 40% | Mar 2024 8.9% | Jun 2024 37% | Sep 2024 33% | Dec 2024 34% | Mar 2025 25% | Jun 2025 27% | Sep 2025 27% | Dec 2025 27% | Mar 2026 7.5% | Jun 2026 —
- SURAJEST: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 46% | Sep 2023 61% | Dec 2023 66% | Mar 2024 53% | Jun 2024 47% | Sep 2024 58% | Dec 2024 27% | Mar 2025 22% | Jun 2025 37% | Sep 2025 45% | Dec 2025 30% | Mar 2026 50% | Jun 2026 —
- ELDEHSG: Sep 2021 54% | Dec 2021 40% | Mar 2022 54% | Jun 2022 41% | Sep 2022 29% | Dec 2022 41% | Mar 2023 47% | Jun 2023 31% | Sep 2023 44% | Dec 2023 43% | Mar 2024 30% | Jun 2024 32% | Sep 2024 15% | Dec 2024 17% | Mar 2025 16% | Jun 2025 11% | Sep 2025 10.0% | Dec 2025 41% | Mar 2026 11% | Jun 2026 —
- PVP: Sep 2021 13% | Dec 2021 -16% | Mar 2022 42% | Jun 2022 90% | Sep 2022 -197% | Dec 2022 -65% | Mar 2023 -235% | Jun 2023 -624% | Sep 2023 — | Dec 2023 -59% | Mar 2024 -87% | Jun 2024 -143% | Sep 2024 -154% | Dec 2024 -172% | Mar 2025 27% | Jun 2025 29% | Sep 2025 14% | Dec 2025 28% | Mar 2026 17% | Jun 2026 —
- GEECEE: Sep 2021 47% | Dec 2021 21% | Mar 2022 30% | Jun 2022 56% | Sep 2022 68% | Dec 2022 38% | Mar 2023 -344% | Jun 2023 65% | Sep 2023 60% | Dec 2023 75% | Mar 2024 35% | Jun 2024 46% | Sep 2024 54% | Dec 2024 45% | Mar 2025 28% | Jun 2025 54% | Sep 2025 69% | Dec 2025 42% | Mar 2026 87% | Jun 2026 —
- PENINLAND: Sep 2021 16% | Dec 2021 25% | Mar 2022 30% | Jun 2022 11% | Sep 2022 9.4% | Dec 2022 7.0% | Mar 2023 20% | Jun 2023 22% | Sep 2023 12% | Dec 2023 28% | Mar 2024 27% | Jun 2024 12% | Sep 2024 18% | Dec 2024 -1.0% | Mar 2025 -2.0% | Jun 2025 24% | Sep 2025 9.0% | Dec 2025 -11% | Mar 2026 -15% | Jun 2026 —
- SBGLP: Sep 2021 58% | Dec 2021 59% | Mar 2022 -297% | Jun 2022 — | Sep 2022 70% | Dec 2022 53% | Mar 2023 8.0% | Jun 2023 49% | Sep 2023 61% | Dec 2023 56% | Mar 2024 49% | Jun 2024 60% | Sep 2024 30% | Dec 2024 -8.0% | Mar 2025 40% | Jun 2025 44% | Sep 2025 43% | Dec 2025 37% | Mar 2026 — | Jun 2026 —

### 20-quarter Margin change history
- 543542: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 +184.5 pp | Dec 2023 — | Mar 2024 +4.0 pp | Jun 2024 — | Sep 2024 +1.3 pp | Dec 2024 — | Mar 2025 −11.1 pp | Jun 2025 — | Sep 2025 −22.8 pp | Dec 2025 +10.0 pp | Mar 2026 +16.0 pp | Jun 2026 —
- SIGNATURE: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 −14.5 pp | Sep 2023 +26.2 pp | Dec 2023 +5.0 pp | Mar 2024 −2.0 pp | Jun 2024 +6.0 pp | Sep 2024 +29.0 pp | Dec 2024 +4.0 pp | Mar 2025 +5.0 pp | Jun 2025 +4.0 pp | Sep 2025 −20.0 pp | Dec 2025 −24.0 pp | Mar 2026 −3.0 pp | Jun 2026 —
- GANESHHOU: Sep 2021 +104.0 pp | Dec 2021 +84.2 pp | Mar 2022 +7.8 pp | Jun 2022 +32.5 pp | Sep 2022 −15.8 pp | Dec 2022 +27.6 pp | Mar 2023 +22.4 pp | Jun 2023 +21.4 pp | Sep 2023 +50.0 pp | Dec 2023 +5.0 pp | Mar 2024 −2.0 pp | Jun 2024 −10.0 pp | Sep 2024 +11.0 pp | Dec 2024 +7.0 pp | Mar 2025 +32.0 pp | Jun 2025 +15.0 pp | Sep 2025 0.0 pp | Dec 2025 0.0 pp | Mar 2026 −11.0 pp | Jun 2026 −46.0 pp
- DBREALTY: Sep 2021 −1,130.2 pp | Dec 2021 −192.6 pp | Mar 2022 +59.6 pp | Jun 2022 +239.2 pp | Sep 2022 +1,167.5 pp | Dec 2022 +153.9 pp | Mar 2023 −96.6 pp | Jun 2023 −188.8 pp | Sep 2023 +222.2 pp | Dec 2023 +160.0 pp | Mar 2024 +97.0 pp | Jun 2024 +253.0 pp | Sep 2024 −5,184.0 pp | Dec 2024 −51.0 pp | Mar 2025 −25.0 pp | Jun 2025 +119.0 pp | Sep 2025 +5,143.0 pp | Dec 2025 +12.0 pp | Mar 2026 −87.0 pp | Jun 2026 —
- PURVA: Sep 2021 +0.2 pp | Dec 2021 +0.7 pp | Mar 2022 −14.7 pp | Jun 2022 +12.5 pp | Sep 2022 −24.9 pp | Dec 2022 +1.1 pp | Mar 2023 −8.6 pp | Jun 2023 −7.4 pp | Sep 2023 +14.0 pp | Dec 2023 +6.0 pp | Mar 2024 +8.0 pp | Jun 2024 +1.0 pp | Sep 2024 0.0 pp | Dec 2024 −29.0 pp | Mar 2025 −6.0 pp | Jun 2025 −7.0 pp | Sep 2025 −7.0 pp | Dec 2025 +15.0 pp | Mar 2026 +14.0 pp | Jun 2026 —
- RUSTOMJEE: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 +0.7 pp | Sep 2022 — | Dec 2022 −7.0 pp | Mar 2023 +5.5 pp | Jun 2023 +20.6 pp | Sep 2023 +15.7 pp | Dec 2023 −3.8 pp | Mar 2024 −22.0 pp | Jun 2024 −13.0 pp | Sep 2024 +17.0 pp | Dec 2024 +6.0 pp | Mar 2025 +2.0 pp | Jun 2025 −6.0 pp | Sep 2025 −12.0 pp | Dec 2025 −4.0 pp | Mar 2026 −3.0 pp | Jun 2026 —
- SUNTECK: Sep 2021 +6.5 pp | Dec 2021 +0.2 pp | Mar 2022 −15.0 pp | Jun 2022 +10.7 pp | Sep 2022 −13.6 pp | Dec 2022 −3.7 pp | Mar 2023 −25.8 pp | Jun 2023 −43.5 pp | Sep 2023 −69.4 pp | Dec 2023 −55.0 pp | Mar 2024 +58.0 pp | Jun 2024 +22.0 pp | Sep 2024 +79.0 pp | Dec 2024 +65.0 pp | Mar 2025 −3.0 pp | Jun 2025 +15.0 pp | Sep 2025 +9.0 pp | Dec 2025 −6.0 pp | Mar 2026 −5.0 pp | Jun 2026 +10.0 pp
- RAYMOND: Sep 2021 +28.9 pp | Dec 2021 +5.8 pp | Mar 2022 +3.2 pp | Jun 2022 +16.5 pp | Sep 2022 +3.9 pp | Dec 2022 −0.4 pp | Mar 2023 +1.5 pp | Jun 2023 −3.1 pp | Sep 2023 −6.5 pp | Dec 2023 −6.5 pp | Mar 2024 −12.0 pp | Jun 2024 −2.0 pp | Sep 2024 −4.0 pp | Dec 2024 −1.0 pp | Mar 2025 +4.0 pp | Jun 2025 +3.0 pp | Sep 2025 +3.0 pp | Dec 2025 +4.0 pp | Mar 2026 +4.0 pp | Jun 2026 —
- AGIIL: Sep 2021 −0.1 pp | Dec 2021 −17.3 pp | Mar 2022 +5.1 pp | Jun 2022 +1.3 pp | Sep 2022 +3.0 pp | Dec 2022 +0.1 pp | Mar 2023 −7.3 pp | Jun 2023 −0.3 pp | Sep 2023 +2.9 pp | Dec 2023 0.0 pp | Mar 2024 +4.0 pp | Jun 2024 +5.0 pp | Sep 2024 +5.0 pp | Dec 2024 +5.0 pp | Mar 2025 −4.0 pp | Jun 2025 +3.0 pp | Sep 2025 +5.0 pp | Dec 2025 +12.0 pp | Mar 2026 +5.0 pp | Jun 2026 —
- ASHIANA: Sep 2021 −5.9 pp | Dec 2021 −18.1 pp | Mar 2022 +15.6 pp | Jun 2022 +34.7 pp | Sep 2022 +4.1 pp | Dec 2022 +15.2 pp | Mar 2023 −0.7 pp | Jun 2023 −11.5 pp | Sep 2023 +15.5 pp | Dec 2023 +10.0 pp | Mar 2024 −1.0 pp | Jun 2024 −12.0 pp | Sep 2024 −32.0 pp | Dec 2024 −5.0 pp | Mar 2025 +1.0 pp | Jun 2025 +9.0 pp | Sep 2025 +40.0 pp | Dec 2025 +6.0 pp | Mar 2026 −2.0 pp | Jun 2026 —
- HEMIPROP: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 −1,692.3 pp | Sep 2023 — | Dec 2023 +732.5 pp | Mar 2024 −4,163.8 pp | Jun 2024 +585.0 pp | Sep 2024 +716.1 pp | Dec 2024 +660.6 pp | Mar 2025 +3,976.3 pp | Jun 2025 +219.2 pp | Sep 2025 −89.1 pp | Dec 2025 +54.8 pp | Mar 2026 +408.3 pp | Jun 2026 —
- KOLTEPATIL: Sep 2021 +32.1 pp | Dec 2021 −11.2 pp | Mar 2022 −3.1 pp | Jun 2022 −8.2 pp | Sep 2022 −22.3 pp | Dec 2022 −19.7 pp | Mar 2023 +11.9 pp | Jun 2023 −7.4 pp | Sep 2023 −1.1 pp | Dec 2023 −46.0 pp | Mar 2024 −26.0 pp | Jun 2024 −8.0 pp | Sep 2024 +11.0 pp | Dec 2024 +60.0 pp | Mar 2025 +19.0 pp | Jun 2025 −40.0 pp | Sep 2025 −32.0 pp | Dec 2025 −4.0 pp | Mar 2026 −17.0 pp | Jun 2026 —
- ARVSMART: Sep 2021 −4.0 pp | Dec 2021 −4.5 pp | Mar 2022 −10.0 pp | Jun 2022 −12.6 pp | Sep 2022 −8.3 pp | Dec 2022 −11.0 pp | Mar 2023 +8.8 pp | Jun 2023 +21.1 pp | Sep 2023 +28.9 pp | Dec 2023 +7.0 pp | Mar 2024 +5.0 pp | Jun 2024 −27.0 pp | Sep 2024 −22.0 pp | Dec 2024 +4.0 pp | Mar 2025 −6.0 pp | Jun 2025 +9.0 pp | Sep 2025 −4.0 pp | Dec 2025 −3.0 pp | Mar 2026 +17.0 pp | Jun 2026 —
- HUBTOWN: Sep 2021 +717.9 pp | Dec 2021 −88.7 pp | Mar 2022 −57.2 pp | Jun 2022 −3.7 pp | Sep 2022 −0.8 pp | Dec 2022 +86.8 pp | Mar 2023 +60.9 pp | Jun 2023 +29.8 pp | Sep 2023 +27.4 pp | Dec 2023 0.0 pp | Mar 2024 −162.0 pp | Jun 2024 −25.0 pp | Sep 2024 +23.0 pp | Dec 2024 +11.0 pp | Mar 2025 +156.0 pp | Jun 2025 +10.0 pp | Sep 2025 −46.0 pp | Dec 2025 −34.0 pp | Mar 2026 +40.0 pp | Jun 2026 —
- AJMERA: Sep 2021 −2.1 pp | Dec 2021 +4.1 pp | Mar 2022 −9.9 pp | Jun 2022 +4.7 pp | Sep 2022 +6.7 pp | Dec 2022 −0.9 pp | Mar 2023 +5.1 pp | Jun 2023 +2.5 pp | Sep 2023 −4.2 pp | Dec 2023 +1.0 pp | Mar 2024 +2.0 pp | Jun 2024 +1.0 pp | Sep 2024 +4.0 pp | Dec 2024 +3.0 pp | Mar 2025 0.0 pp | Jun 2025 −3.0 pp | Sep 2025 −4.0 pp | Dec 2025 −2.0 pp | Mar 2026 −4.0 pp | Jun 2026 —
- CAPACITE: Sep 2021 −3.3 pp | Dec 2021 −2.4 pp | Mar 2022 −1.7 pp | Jun 2022 +6.6 pp | Sep 2022 +0.7 pp | Dec 2022 +4.6 pp | Mar 2023 +2.7 pp | Jun 2023 −4.7 pp | Sep 2023 −3.9 pp | Dec 2023 −2.0 pp | Mar 2024 −1.0 pp | Jun 2024 +3.0 pp | Sep 2024 +3.0 pp | Dec 2024 −3.0 pp | Mar 2025 −5.0 pp | Jun 2025 −2.0 pp | Sep 2025 −1.0 pp | Dec 2025 +1.0 pp | Mar 2026 +2.0 pp | Jun 2026 —
- OMAXE: Sep 2021 +4.8 pp | Dec 2021 +37.3 pp | Mar 2022 +25.3 pp | Jun 2022 +1.9 pp | Sep 2022 −51.5 pp | Dec 2022 −28.5 pp | Mar 2023 −41.9 pp | Jun 2023 −23.7 pp | Sep 2023 +32.4 pp | Dec 2023 +36.0 pp | Mar 2024 +11.0 pp | Jun 2024 −1.0 pp | Sep 2024 −33.0 pp | Dec 2024 −38.0 pp | Mar 2025 +7.0 pp | Jun 2025 −16.0 pp | Sep 2025 +5.0 pp | Dec 2025 −7.0 pp | Mar 2026 −38.0 pp | Jun 2026 —
- SHRIRAMPPS: Sep 2021 — | Dec 2021 +31.6 pp | Mar 2022 +28.1 pp | Jun 2022 +47.8 pp | Sep 2022 +20.1 pp | Dec 2022 −25.2 pp | Mar 2023 −38.3 pp | Jun 2023 +12.7 pp | Sep 2023 +2.5 pp | Dec 2023 +8.6 pp | Mar 2024 +4.0 pp | Jun 2024 −25.0 pp | Sep 2024 −15.0 pp | Dec 2024 −22.0 pp | Mar 2025 +15.0 pp | Jun 2025 +11.0 pp | Sep 2025 −1.0 pp | Dec 2025 +3.0 pp | Mar 2026 −1.0 pp | Jun 2026 —
- LGHL: Sep 2021 −0.2 pp | Dec 2021 — | Mar 2022 +0.1 pp | Jun 2022 — | Sep 2022 −0.6 pp | Dec 2022 — | Mar 2023 +4.5 pp | Jun 2023 — | Sep 2023 +4.2 pp | Dec 2023 +13.7 pp | Mar 2024 −1.2 pp | Jun 2024 +11.4 pp | Sep 2024 — | Dec 2024 +12.3 pp | Mar 2025 +12.1 pp | Jun 2025 −1.5 pp | Sep 2025 — | Dec 2025 — | Mar 2026 — | Jun 2026 —
- ARIHANT: Sep 2021 +25.8 pp | Dec 2021 −15.1 pp | Mar 2022 +56.6 pp | Jun 2022 +33.6 pp | Sep 2022 +68.0 pp | Dec 2022 +40.0 pp | Mar 2023 −38.4 pp | Jun 2023 −11.4 pp | Sep 2023 −0.6 pp | Dec 2023 +3.7 pp | Mar 2024 +28.0 pp | Jun 2024 +23.6 pp | Sep 2024 −1.6 pp | Dec 2024 −5.8 pp | Mar 2025 +15.7 pp | Jun 2025 −10.5 pp | Sep 2025 −5.5 pp | Dec 2025 −7.1 pp | Mar 2026 −17.1 pp | Jun 2026 —
- SURAJEST: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 +1.0 pp | Sep 2024 −3.0 pp | Dec 2024 −39.0 pp | Mar 2025 −31.0 pp | Jun 2025 −10.0 pp | Sep 2025 −13.0 pp | Dec 2025 +3.0 pp | Mar 2026 +28.0 pp | Jun 2026 —
- ELDEHSG: Sep 2021 +4.2 pp | Dec 2021 +4.5 pp | Mar 2022 +15.1 pp | Jun 2022 +7.0 pp | Sep 2022 −25.2 pp | Dec 2022 +0.9 pp | Mar 2023 −7.2 pp | Jun 2023 −9.5 pp | Sep 2023 +14.5 pp | Dec 2023 +1.9 pp | Mar 2024 −16.4 pp | Jun 2024 +0.7 pp | Sep 2024 −28.8 pp | Dec 2024 −26.1 pp | Mar 2025 −14.8 pp | Jun 2025 −21.0 pp | Sep 2025 −4.8 pp | Dec 2025 +24.1 pp | Mar 2026 −4.7 pp | Jun 2026 —
- PVP: Sep 2021 +187.0 pp | Dec 2021 −2.0 pp | Mar 2022 +99.6 pp | Jun 2022 +200.7 pp | Sep 2022 −210.7 pp | Dec 2022 −49.0 pp | Mar 2023 −277.4 pp | Jun 2023 −714.3 pp | Sep 2023 −10,669.3 pp | Dec 2023 +6.4 pp | Mar 2024 +147.7 pp | Jun 2024 +481.2 pp | Sep 2024 +10,712.9 pp | Dec 2024 −112.7 pp | Mar 2025 +114.9 pp | Jun 2025 +172.5 pp | Sep 2025 +167.8 pp | Dec 2025 +199.9 pp | Mar 2026 −10.0 pp | Jun 2026 —
- GEECEE: Sep 2021 +9.7 pp | Dec 2021 −12.9 pp | Mar 2022 −8.4 pp | Jun 2022 +9.5 pp | Sep 2022 +20.8 pp | Dec 2022 +16.7 pp | Mar 2023 −374.2 pp | Jun 2023 +9.2 pp | Sep 2023 −7.7 pp | Dec 2023 +37.2 pp | Mar 2024 +379.0 pp | Jun 2024 −19.0 pp | Sep 2024 −6.0 pp | Dec 2024 −30.0 pp | Mar 2025 −7.0 pp | Jun 2025 +8.0 pp | Sep 2025 +15.0 pp | Dec 2025 −3.0 pp | Mar 2026 +59.0 pp | Jun 2026 —
- PENINLAND: Sep 2021 +5.7 pp | Dec 2021 +44.5 pp | Mar 2022 +57.9 pp | Jun 2022 −2.3 pp | Sep 2022 −6.8 pp | Dec 2022 −18.0 pp | Mar 2023 −9.9 pp | Jun 2023 +11.5 pp | Sep 2023 +2.6 pp | Dec 2023 +21.0 pp | Mar 2024 +7.0 pp | Jun 2024 −10.0 pp | Sep 2024 +6.0 pp | Dec 2024 −29.0 pp | Mar 2025 −29.0 pp | Jun 2025 +12.0 pp | Sep 2025 −9.0 pp | Dec 2025 −10.0 pp | Mar 2026 −13.0 pp | Jun 2026 —
- SBGLP: Sep 2021 +14.8 pp | Dec 2021 — | Mar 2022 −416.6 pp | Jun 2022 — | Sep 2022 +11.8 pp | Dec 2022 −5.7 pp | Mar 2023 +305.3 pp | Jun 2023 +1,620.4 pp | Sep 2023 −9.0 pp | Dec 2023 +3.0 pp | Mar 2024 +41.0 pp | Jun 2024 +11.0 pp | Sep 2024 −31.0 pp | Dec 2024 −64.0 pp | Mar 2025 −9.0 pp | Jun 2025 −16.0 pp | Sep 2025 +13.0 pp | Dec 2025 +45.0 pp | Mar 2026 — | Jun 2026 —

## Profit Scale & Acceleration

What the numbers say: Raymond Ltd leads with ₹5,361 crore of TTM profit, 390% above SignatureGlobal India Ltd. Ashiana Housing Ltd shows ≥100% on the scoring scale (561.1% uncapped) growth from a ₹119 crore profit base. Compare the size of the base and persistence before ranking acceleration above profit scale.

Investor read: Raymond Ltd sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current profit growth signal.

Evidence: Raymond Ltd · ₹5,361 crore | 390% versus #2 · SignatureGlobal India Ltd | 1/8 recent comparable periods | 25/26 companies · 396 observations

Definition: Net profit is the residual after operating costs, interest and tax. Growth off a loss or near-zero base is excluded from the fastest-grower rank.

### Net profit — largest
1. Raymond Ltd (RAYMOND): ₹5.4K Cr
2. SignatureGlobal India Ltd (SIGNATURE): ₹1.1K Cr
3. Ganesh Housing Ltd (GANESHHOU): ₹265 Cr
4. Sunteck Realty Ltd (SUNTECK): ₹211 Cr
5. Capacite Infraprojects Ltd (CAPACITE): ₹193 Cr

### Profit growth — fastest growers
1. Ashiana Housing Ltd (ASHIANA): 100%
2. Hubtown Ltd (HUBTOWN): 100%
3. SignatureGlobal India Ltd (SIGNATURE): 100%
4. AGI Infra Ltd (AGIIL): 44%
5. Arihant Foundations & Housing Ltd (ARIHANT): 42%

### 20-quarter Net profit history
- 543542: Sep 2021 — | Dec 2021 — | Mar 2022 ₹3 Cr | Jun 2022 — | Sep 2022 ₹-1 Cr | Dec 2022 — | Mar 2023 ₹2 Cr | Jun 2023 — | Sep 2023 ₹7 Cr | Dec 2023 — | Mar 2024 ₹4 Cr | Jun 2024 — | Sep 2024 ₹16 Cr | Dec 2024 ₹2 Cr | Mar 2025 ₹2 Cr | Jun 2025 — | Sep 2025 ₹1 Cr | Dec 2025 ₹15 Cr | Mar 2026 ₹15 Cr | Jun 2026 —
- SIGNATURE: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 ₹33 Cr | Sep 2022 ₹-59 Cr | Dec 2022 ₹-45 Cr | Mar 2023 ₹8 Cr | Jun 2023 ₹-7 Cr | Sep 2023 ₹-20 Cr | Dec 2023 ₹2 Cr | Mar 2024 ₹41 Cr | Jun 2024 ₹7 Cr | Sep 2024 ₹4 Cr | Dec 2024 ₹29 Cr | Mar 2025 ₹61 Cr | Jun 2025 ₹34 Cr | Sep 2025 ₹-47 Cr | Dec 2025 ₹-45 Cr | Mar 2026 ₹1.2K Cr | Jun 2026 —
- GANESHHOU: Sep 2021 ₹15 Cr | Dec 2021 ₹25 Cr | Mar 2022 ₹25 Cr | Jun 2022 ₹13 Cr | Sep 2022 ₹19 Cr | Dec 2022 ₹30 Cr | Mar 2023 ₹39 Cr | Jun 2023 ₹161 Cr | Sep 2023 ₹86 Cr | Dec 2023 ₹101 Cr | Mar 2024 ₹113 Cr | Jun 2024 ₹114 Cr | Sep 2024 ₹158 Cr | Dec 2024 ₹161 Cr | Mar 2025 ₹165 Cr | Jun 2025 ₹93 Cr | Sep 2025 ₹108 Cr | Dec 2025 ₹54 Cr | Mar 2026 ₹61 Cr | Jun 2026 ₹42 Cr
- DBREALTY: Sep 2021 ₹-352 Cr | Dec 2021 ₹-36 Cr | Mar 2022 ₹506 Cr | Jun 2022 ₹8 Cr | Sep 2022 ₹566 Cr | Dec 2022 ₹-623 Cr | Mar 2023 ₹-42 Cr | Jun 2023 ₹-26 Cr | Sep 2023 ₹894 Cr | Dec 2023 ₹463 Cr | Mar 2024 ₹-13 Cr | Jun 2024 ₹-13 Cr | Sep 2024 ₹-111 Cr | Dec 2024 ₹8 Cr | Mar 2025 ₹-2 Cr | Jun 2025 ₹14 Cr | Sep 2025 ₹10 Cr | Dec 2025 ₹62 Cr | Mar 2026 ₹-59 Cr | Jun 2026 —
- PURVA: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 ₹-24 Cr | Dec 2022 ₹23 Cr | Mar 2023 ₹27 Cr | Jun 2023 ₹-18 Cr | Sep 2023 ₹-11 Cr | Dec 2023 ₹78 Cr | Mar 2024 ₹-7 Cr | Jun 2024 ₹15 Cr | Sep 2024 ₹-17 Cr | Dec 2024 ₹-93 Cr | Mar 2025 ₹-88 Cr | Jun 2025 ₹-69 Cr | Sep 2025 ₹-43 Cr | Dec 2025 ₹58 Cr | Mar 2026 ₹110 Cr | Jun 2026 —
- RUSTOMJEE: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 ₹6 Cr | Mar 2023 ₹74 Cr | Jun 2023 ₹47 Cr | Sep 2023 ₹4 Cr | Dec 2023 ₹30 Cr | Mar 2024 ₹30 Cr | Jun 2024 ₹26 Cr | Sep 2024 ₹66 Cr | Dec 2024 ₹30 Cr | Mar 2025 ₹67 Cr | Jun 2025 ₹16 Cr | Sep 2025 ₹10 Cr | Dec 2025 ₹5 Cr | Mar 2026 ₹64 Cr | Jun 2026 —
- SUNTECK: Sep 2021 ₹15 Cr | Dec 2021 ₹11 Cr | Mar 2022 ₹-4 Cr | Jun 2022 ₹25 Cr | Sep 2022 ₹2 Cr | Dec 2022 ₹2 Cr | Mar 2023 ₹-28 Cr | Jun 2023 ₹-7 Cr | Sep 2023 ₹-14 Cr | Dec 2023 ₹-10 Cr | Mar 2024 ₹101 Cr | Jun 2024 ₹23 Cr | Sep 2024 ₹35 Cr | Dec 2024 ₹43 Cr | Mar 2025 ₹50 Cr | Jun 2025 ₹33 Cr | Sep 2025 ₹49 Cr | Dec 2025 ₹57 Cr | Mar 2026 ₹63 Cr | Jun 2026 ₹42 Cr
- RAYMOND: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 ₹97 Cr | Mar 2023 ₹196 Cr | Jun 2023 ₹1.1K Cr | Sep 2023 ₹161 Cr | Dec 2023 ₹185 Cr | Mar 2024 ₹230 Cr | Jun 2024 ₹7.4K Cr | Sep 2024 ₹59 Cr | Dec 2024 ₹72 Cr | Mar 2025 ₹137 Cr | Jun 2025 ₹5.3K Cr | Sep 2025 ₹14 Cr | Dec 2025 ₹7 Cr | Mar 2026 ₹12 Cr | Jun 2026 —
- AGIIL: Sep 2021 ₹10 Cr | Dec 2021 ₹10 Cr | Mar 2022 ₹11 Cr | Jun 2022 ₹11 Cr | Sep 2022 ₹12 Cr | Dec 2022 ₹12 Cr | Mar 2023 ₹13 Cr | Jun 2023 ₹13 Cr | Sep 2023 ₹14 Cr | Dec 2023 ₹15 Cr | Mar 2024 ₹9 Cr | Jun 2024 ₹14 Cr | Sep 2024 ₹17 Cr | Dec 2024 ₹19 Cr | Mar 2025 ₹16 Cr | Jun 2025 ₹20 Cr | Sep 2025 ₹22 Cr | Dec 2025 ₹26 Cr | Mar 2026 ₹27 Cr | Jun 2026 —
- ASHIANA: Sep 2021 ₹-6 Cr | Dec 2021 ₹-4 Cr | Mar 2022 ₹9 Cr | Jun 2022 ₹10 Cr | Sep 2022 ₹-2 Cr | Dec 2022 ₹9 Cr | Mar 2023 ₹10 Cr | Jun 2023 ₹11 Cr | Sep 2023 ₹27 Cr | Dec 2023 ₹28 Cr | Mar 2024 ₹17 Cr | Jun 2024 ₹-5 Cr | Sep 2024 ₹-8 Cr | Dec 2024 ₹11 Cr | Mar 2025 ₹20 Cr | Jun 2025 ₹13 Cr | Sep 2025 ₹28 Cr | Dec 2025 ₹57 Cr | Mar 2026 ₹21 Cr | Jun 2026 —
- HEMIPROP: Sep 2021 ₹-5 Cr | Dec 2021 ₹-2 Cr | Mar 2022 ₹-6 Cr | Jun 2022 ₹-1 Cr | Sep 2022 ₹-2 Cr | Dec 2022 ₹-2 Cr | Mar 2023 ₹-1 Cr | Jun 2023 ₹-2 Cr | Sep 2023 ₹-2 Cr | Dec 2023 ₹-2 Cr | Mar 2024 ₹-4 Cr | Jun 2024 ₹-2 Cr | Sep 2024 ₹-2 Cr | Dec 2024 ₹-2 Cr | Mar 2025 ₹-1 Cr | Jun 2025 ₹-3 Cr | Sep 2025 ₹-4 Cr | Dec 2025 ₹-3 Cr | Mar 2026 ₹-2 Cr | Jun 2026 —
- KOLTEPATIL: Sep 2021 ₹18 Cr | Dec 2021 ₹5 Cr | Mar 2022 ₹27 Cr | Jun 2022 ₹21 Cr | Sep 2022 ₹-9 Cr | Dec 2022 ₹-27 Cr | Mar 2023 ₹121 Cr | Jun 2023 ₹48 Cr | Sep 2023 ₹-26 Cr | Dec 2023 ₹-63 Cr | Mar 2024 ₹-26 Cr | Jun 2024 ₹6 Cr | Sep 2024 ₹10 Cr | Dec 2024 ₹26 Cr | Mar 2025 ₹66 Cr | Jun 2025 ₹-17 Cr | Sep 2025 ₹-11 Cr | Dec 2025 ₹4 Cr | Mar 2026 ₹-15 Cr | Jun 2026 —
- ARVSMART: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 ₹5 Cr | Mar 2023 ₹10 Cr | Jun 2023 ₹9 Cr | Sep 2023 ₹11 Cr | Dec 2023 ₹12 Cr | Mar 2024 ₹20 Cr | Jun 2024 ₹5 Cr | Sep 2024 ₹43 Cr | Dec 2024 ₹50 Cr | Mar 2025 ₹22 Cr | Jun 2025 ₹12 Cr | Sep 2025 ₹18 Cr | Dec 2025 ₹29 Cr | Mar 2026 ₹44 Cr | Jun 2026 —
- HUBTOWN: Sep 2021 ₹-6 Cr | Dec 2021 ₹-21 Cr | Mar 2022 ₹-84 Cr | Jun 2022 ₹-17 Cr | Sep 2022 ₹21 Cr | Dec 2022 ₹14 Cr | Mar 2023 ₹5 Cr | Jun 2023 ₹-1 Cr | Sep 2023 ₹3 Cr | Dec 2023 ₹3 Cr | Mar 2024 ₹-90 Cr | Jun 2024 ₹5 Cr | Sep 2024 ₹19 Cr | Dec 2024 ₹20 Cr | Mar 2025 ₹2 Cr | Jun 2025 ₹82 Cr | Sep 2025 ₹32 Cr | Dec 2025 ₹23 Cr | Mar 2026 ₹26 Cr | Jun 2026 —
- AJMERA: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 ₹11 Cr | Mar 2023 ₹15 Cr | Jun 2023 ₹22 Cr | Sep 2023 ₹23 Cr | Dec 2023 ₹30 Cr | Mar 2024 ₹29 Cr | Jun 2024 ₹33 Cr | Sep 2024 ₹36 Cr | Dec 2024 ₹33 Cr | Mar 2025 ₹24 Cr | Jun 2025 ₹39 Cr | Sep 2025 ₹31 Cr | Dec 2025 ₹28 Cr | Mar 2026 ₹59 Cr | Jun 2026 —
- CAPACITE: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 ₹23 Cr | Mar 2023 ₹22 Cr | Jun 2023 ₹19 Cr | Sep 2023 ₹20 Cr | Dec 2023 ₹30 Cr | Mar 2024 ₹52 Cr | Jun 2024 ₹53 Cr | Sep 2024 ₹45 Cr | Dec 2024 ₹52 Cr | Mar 2025 ₹53 Cr | Jun 2025 ₹47 Cr | Sep 2025 ₹51 Cr | Dec 2025 ₹50 Cr | Mar 2026 ₹45 Cr | Jun 2026 —
- OMAXE: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 ₹-109 Cr | Mar 2023 ₹-104 Cr | Jun 2023 ₹-106 Cr | Sep 2023 ₹-84 Cr | Dec 2023 ₹-72 Cr | Mar 2024 ₹-144 Cr | Jun 2024 ₹-147 Cr | Sep 2024 ₹-239 Cr | Dec 2024 ₹-150 Cr | Mar 2025 ₹-149 Cr | Jun 2025 ₹-186 Cr | Sep 2025 ₹-166 Cr | Dec 2025 ₹-153 Cr | Mar 2026 ₹-191 Cr | Jun 2026 —
- SHRIRAMPPS: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 ₹22 Cr | Mar 2023 ₹16 Cr | Jun 2023 ₹17 Cr | Sep 2023 ₹20 Cr | Dec 2023 ₹18 Cr | Mar 2024 ₹20 Cr | Jun 2024 ₹17 Cr | Sep 2024 ₹-1 Cr | Dec 2024 ₹13 Cr | Mar 2025 ₹48 Cr | Jun 2025 ₹21 Cr | Sep 2025 ₹9 Cr | Dec 2025 ₹-7 Cr | Mar 2026 ₹79 Cr | Jun 2026 —
- LGHL: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 ₹5 Cr | Jun 2024 ₹1 Cr | Sep 2024 — | Dec 2024 ₹4 Cr | Mar 2025 ₹1 Cr | Jun 2025 ₹2 Cr | Sep 2025 — | Dec 2025 — | Mar 2026 — | Jun 2026 —
- ARIHANT: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 ₹1 Cr | Mar 2023 ₹1 Cr | Jun 2023 ₹2 Cr | Sep 2023 ₹1 Cr | Dec 2023 ₹9 Cr | Mar 2024 ₹1 Cr | Jun 2024 ₹10 Cr | Sep 2024 ₹11 Cr | Dec 2024 ₹11 Cr | Mar 2025 ₹11 Cr | Jun 2025 ₹16 Cr | Sep 2025 ₹20 Cr | Dec 2025 ₹20 Cr | Mar 2026 ₹4 Cr | Jun 2026 —
- SURAJEST: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 ₹15 Cr | Sep 2023 ₹17 Cr | Dec 2023 ₹17 Cr | Mar 2024 ₹19 Cr | Jun 2024 ₹30 Cr | Sep 2024 ₹32 Cr | Dec 2024 ₹20 Cr | Mar 2025 ₹18 Cr | Jun 2025 ₹21 Cr | Sep 2025 ₹33 Cr | Dec 2025 ₹25 Cr | Mar 2026 ₹11 Cr | Jun 2026 —
- ELDEHSG: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 ₹10 Cr | Mar 2023 ₹15 Cr | Jun 2023 ₹8 Cr | Sep 2023 ₹6 Cr | Dec 2023 ₹8 Cr | Mar 2024 ₹12 Cr | Jun 2024 ₹8 Cr | Sep 2024 ₹5 Cr | Dec 2024 ₹6 Cr | Mar 2025 ₹3 Cr | Jun 2025 ₹3 Cr | Sep 2025 ₹3 Cr | Dec 2025 ₹14 Cr | Mar 2026 ₹5 Cr | Jun 2026 —
- PVP: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 ₹-9 Cr | Mar 2023 ₹-128 Cr | Jun 2023 ₹-4 Cr | Sep 2023 ₹-4 Cr | Dec 2023 ₹67 Cr | Mar 2024 ₹7 Cr | Jun 2024 ₹-2 Cr | Sep 2024 ₹-3 Cr | Dec 2024 ₹-1 Cr | Mar 2025 ₹-3 Cr | Jun 2025 ₹-0 Cr | Sep 2025 ₹-3 Cr | Dec 2025 ₹-4 Cr | Mar 2026 ₹-3 Cr | Jun 2026 —
- GEECEE: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 ₹2 Cr | Mar 2023 ₹-11 Cr | Jun 2023 ₹6 Cr | Sep 2023 ₹4 Cr | Dec 2023 ₹9 Cr | Mar 2024 ₹18 Cr | Jun 2024 ₹11 Cr | Sep 2024 ₹13 Cr | Dec 2024 ₹20 Cr | Mar 2025 ₹4 Cr | Jun 2025 ₹3 Cr | Sep 2025 ₹10 Cr | Dec 2025 ₹5 Cr | Mar 2026 ₹24 Cr | Jun 2026 —
- PENINLAND: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 ₹11 Cr | Mar 2023 ₹52 Cr | Jun 2023 ₹60 Cr | Sep 2023 ₹11 Cr | Dec 2023 ₹32 Cr | Mar 2024 ₹24 Cr | Jun 2024 ₹-2 Cr | Sep 2024 ₹3 Cr | Dec 2024 ₹-9 Cr | Mar 2025 ₹-28 Cr | Jun 2025 ₹-5 Cr | Sep 2025 ₹-19 Cr | Dec 2025 ₹-12 Cr | Mar 2026 ₹-118 Cr | Jun 2026 —
- SBGLP: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 ₹-2 Cr | Sep 2022 ₹6 Cr | Dec 2022 ₹18 Cr | Mar 2023 ₹-1 Cr | Jun 2023 ₹7 Cr | Sep 2023 ₹8 Cr | Dec 2023 ₹7 Cr | Mar 2024 ₹6 Cr | Jun 2024 ₹4 Cr | Sep 2024 ₹0 Cr | Dec 2024 ₹0 Cr | Mar 2025 ₹7 Cr | Jun 2025 ₹5 Cr | Sep 2025 ₹8 Cr | Dec 2025 ₹11 Cr | Mar 2026 — | Jun 2026 —

### 20-quarter Profit growth history
- 543542: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 -31% | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 119% | Jun 2024 — | Sep 2024 154% | Dec 2024 — | Mar 2025 -54% | Jun 2025 — | Sep 2025 -94% | Dec 2025 650% | Mar 2026 650% | Jun 2026 —
- SIGNATURE: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 -121% | Sep 2023 — | Dec 2023 — | Mar 2024 413% | Jun 2024 — | Sep 2024 — | Dec 2024 1,350% | Mar 2025 49% | Jun 2025 386% | Sep 2025 -1,275% | Dec 2025 -255% | Mar 2026 1,789% | Jun 2026 —
- GANESHHOU: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 160% | Sep 2022 27% | Dec 2022 20% | Mar 2023 56% | Jun 2023 1,138% | Sep 2023 353% | Dec 2023 237% | Mar 2024 190% | Jun 2024 -29% | Sep 2024 84% | Dec 2024 59% | Mar 2025 46% | Jun 2025 -18% | Sep 2025 -32% | Dec 2025 -66% | Mar 2026 -63% | Jun 2026 -55%
- DBREALTY: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 -108% | Jun 2023 -425% | Sep 2023 58% | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 -112% | Dec 2024 -98% | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 675% | Mar 2026 — | Jun 2026 —
- PURVA: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 239% | Mar 2024 -126% | Jun 2024 — | Sep 2024 — | Dec 2024 -219% | Mar 2025 — | Jun 2025 -560% | Sep 2025 — | Dec 2025 — | Mar 2026 — | Jun 2026 —
- RUSTOMJEE: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 415% | Mar 2024 -59% | Jun 2024 -45% | Sep 2024 1,550% | Dec 2024 0.0% | Mar 2025 123% | Jun 2025 -38% | Sep 2025 -85% | Dec 2025 -83% | Mar 2026 -4.5% | Jun 2026 —
- SUNTECK: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 -87% | Dec 2022 -82% | Mar 2023 — | Jun 2023 -128% | Sep 2023 -800% | Dec 2023 -600% | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 -51% | Jun 2025 43% | Sep 2025 40% | Dec 2025 33% | Mar 2026 26% | Jun 2026 27%
- RAYMOND: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 92% | Mar 2024 17% | Jun 2024 590% | Sep 2024 -63% | Dec 2024 -61% | Mar 2025 -40% | Jun 2025 -28% | Sep 2025 -76% | Dec 2025 -90% | Mar 2026 -91% | Jun 2026 —
- AGIIL: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 83% | Sep 2022 20% | Dec 2022 20% | Mar 2023 18% | Jun 2023 18% | Sep 2023 17% | Dec 2023 25% | Mar 2024 -31% | Jun 2024 7.7% | Sep 2024 21% | Dec 2024 27% | Mar 2025 78% | Jun 2025 43% | Sep 2025 29% | Dec 2025 37% | Mar 2026 69% | Jun 2026 —
- ASHIANA: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 11% | Jun 2023 10% | Sep 2023 — | Dec 2023 211% | Mar 2024 70% | Jun 2024 -145% | Sep 2024 -130% | Dec 2024 -61% | Mar 2025 18% | Jun 2025 — | Sep 2025 — | Dec 2025 418% | Mar 2026 5.0% | Jun 2026 —
- KOLTEPATIL: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 -30% | Sep 2022 -150% | Dec 2022 -640% | Mar 2023 348% | Jun 2023 129% | Sep 2023 — | Dec 2023 — | Mar 2024 -121% | Jun 2024 -88% | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 -383% | Sep 2025 -210% | Dec 2025 -85% | Mar 2026 -123% | Jun 2026 —
- ARVSMART: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 140% | Mar 2024 100% | Jun 2024 -44% | Sep 2024 291% | Dec 2024 317% | Mar 2025 10% | Jun 2025 140% | Sep 2025 -58% | Dec 2025 -42% | Mar 2026 100% | Jun 2026 —
- HUBTOWN: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 -86% | Dec 2023 -79% | Mar 2024 -1,900% | Jun 2024 — | Sep 2024 533% | Dec 2024 567% | Mar 2025 — | Jun 2025 1,540% | Sep 2025 68% | Dec 2025 15% | Mar 2026 1,200% | Jun 2026 —
- AJMERA: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 173% | Mar 2024 93% | Jun 2024 50% | Sep 2024 57% | Dec 2024 10% | Mar 2025 -17% | Jun 2025 18% | Sep 2025 -14% | Dec 2025 -15% | Mar 2026 146% | Jun 2026 —
- CAPACITE: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 30% | Mar 2024 136% | Jun 2024 179% | Sep 2024 125% | Dec 2024 73% | Mar 2025 1.9% | Jun 2025 -11% | Sep 2025 13% | Dec 2025 -3.9% | Mar 2026 -15% | Jun 2026 —
- SHRIRAMPPS: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 -20% | Mar 2024 25% | Jun 2024 0.0% | Sep 2024 -105% | Dec 2024 -28% | Mar 2025 140% | Jun 2025 24% | Sep 2025 — | Dec 2025 -154% | Mar 2026 65% | Jun 2026 —
- LGHL: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 -88% | Jun 2025 90% | Sep 2025 — | Dec 2025 — | Mar 2026 — | Jun 2026 —
- ARIHANT: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 807% | Mar 2024 4.7% | Jun 2024 301% | Sep 2024 810% | Dec 2024 23% | Mar 2025 1,174% | Jun 2025 72% | Sep 2025 90% | Dec 2025 79% | Mar 2026 -63% | Jun 2026 —
- SURAJEST: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 100% | Sep 2024 88% | Dec 2024 18% | Mar 2025 -5.3% | Jun 2025 -30% | Sep 2025 3.1% | Dec 2025 25% | Mar 2026 -39% | Jun 2026 —
- ELDEHSG: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 -19% | Mar 2024 -21% | Jun 2024 4.7% | Sep 2024 -30% | Dec 2024 -29% | Mar 2025 -72% | Jun 2025 -61% | Sep 2025 -42% | Dec 2025 137% | Mar 2026 50% | Jun 2026 —
- PVP: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 -101% | Mar 2025 -135% | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 — | Jun 2026 —
- GEECEE: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 323% | Mar 2024 — | Jun 2024 83% | Sep 2024 225% | Dec 2024 122% | Mar 2025 -78% | Jun 2025 -73% | Sep 2025 -23% | Dec 2025 -75% | Mar 2026 500% | Jun 2026 —
- PENINLAND: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 191% | Mar 2024 -54% | Jun 2024 -103% | Sep 2024 -73% | Dec 2024 -128% | Mar 2025 -217% | Jun 2025 — | Sep 2025 -733% | Dec 2025 — | Mar 2026 — | Jun 2026 —
- SBGLP: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 36% | Dec 2023 -61% | Mar 2024 — | Jun 2024 -43% | Sep 2024 -100% | Dec 2024 -100% | Mar 2025 17% | Jun 2025 25% | Sep 2025 — | Dec 2025 — | Mar 2026 — | Jun 2026 —

## Capacity Spending & Returns On It

What the numbers say: Valor Estate Ltd reports ₹42 crore of CAPEX; Valor Estate Ltd has the highest covered intensity at 29.2%. Coverage is only 3 of 26 companies and 10 reported observations, so this is partial evidence—not a complete sector rank.

Investor read: Use the CAPEX rank as a diligence queue. Verify commissioning, utilization, cash conversion and post-investment ROCE before treating spend as value creation.

This conclusion weakens if: CAPEX rises without higher utilization, operating cash flow or incremental returns.

Evidence: Valor Estate Ltd · ₹42 crore | 42× versus #2 · Suraj Estate Developers Ltd | 4/4 recent comparable periods | 3/26 companies · 10 observations

Definition: CAPEX is cash spent on property, plant, equipment and other reported capital assets. CAPEX intensity divides that spend by revenue; high intensity is a reinvestment signal, not proof that the reinvestment will earn attractive returns.

### CAPEX — largest spenders
1. Valor Estate Ltd (DBREALTY): ₹42 Cr
2. Suraj Estate Developers Ltd (SURAJEST): ₹1 Cr
3. Laxmi Goldorna House Ltd (LGHL): ₹0 Cr

### CAPEX intensity — highest reinvestment intensity
1. Valor Estate Ltd (DBREALTY): 29%
2. Suraj Estate Developers Ltd (SURAJEST): 1.0%

### 20-quarter CAPEX history
- DBREALTY: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 ₹1 Cr | Mar 2023 ₹1 Cr | Jun 2023 — | Sep 2023 — | Dec 2023 ₹11 Cr | Mar 2024 ₹42 Cr | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 — | Jun 2026 —
- LGHL: Sep 2021 ₹0 Cr | Dec 2021 — | Mar 2022 ₹0 Cr | Jun 2022 ₹0 Cr | Sep 2022 ₹0 Cr | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 — | Jun 2026 —
- SURAJEST: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 ₹1 Cr | Sep 2023 ₹1 Cr | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 — | Jun 2026 —

### 20-quarter CAPEX intensity history
- DBREALTY: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 0.2% | Mar 2023 1.7% | Jun 2023 — | Sep 2023 — | Dec 2023 7.7% | Mar 2024 29% | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 — | Jun 2026 —
- SURAJEST: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 1.0% | Sep 2023 1.0% | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 — | Jun 2026 —

## Debt Load & Balance-Sheet Headroom

What the numbers say: Ashiana Housing Ltd has the clearest covered balance-sheet capacity with ₹551 crore net cash and gross debt of ₹323 crore. Absolute debt alone does not identify the strongest balance sheet because company scale differs; net debt and debt-to-equity carry more information.

Investor read: Prioritize net-cash capacity and leverage relative to operating scale, not the smallest absolute rupee debt.

This conclusion weakens if: Net debt rises faster than revenue and profit for two consecutive reported periods.

Evidence: Geecee Ventures Ltd · ₹0 crore | 100% versus #2 · Kesar India Ltd | Not enough history | 26/26 companies · 361 observations

Definition: Gross debt shows contractual borrowings. Net debt subtracts reported cash; a negative value means net cash. Lower debt can create capacity, but should be read against the scale and capital intensity of the business.

### Gross debt — lowest gross debt
1. Geecee Ventures Ltd (GEECEE): ₹0 Cr
2. Kesar India Ltd (543542): ₹44 Cr
3. Suratwwala Business Group Ltd (SBGLP): ₹65 Cr — older report
4. Hemisphere Properties India Ltd (HEMIPROP): ₹87 Cr
5. Laxmi Goldorna House Ltd (LGHL): ₹108 Cr

### Net debt — lowest net debt
1. Ashiana Housing Ltd (ASHIANA): ₹-551 Cr
2. Eldeco Housing & Industries Ltd (ELDEHSG): ₹-107 Cr
3. Hemisphere Properties India Ltd (HEMIPROP): ₹62 Cr
4. AGI Infra Ltd (AGIIL): ₹88 Cr
5. Laxmi Goldorna House Ltd (LGHL): ₹106 Cr

### 20-quarter Gross debt history
- 543542: Sep 2021 — | Dec 2021 — | Mar 2022 ₹2 Cr | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 ₹2 Cr | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 ₹22 Cr | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 ₹27 Cr | Jun 2025 — | Sep 2025 ₹30 Cr | Dec 2025 — | Mar 2026 ₹44 Cr | Jun 2026 —
- SIGNATURE: Sep 2021 — | Dec 2021 — | Mar 2022 ₹1.2K Cr | Jun 2022 ₹1.2K Cr | Sep 2022 — | Dec 2022 — | Mar 2023 ₹1.7K Cr | Jun 2023 ₹1.8K Cr | Sep 2023 ₹1.1K Cr | Dec 2023 ₹1.1K Cr | Mar 2024 ₹1.9K Cr | Jun 2024 ₹1.9K Cr | Sep 2024 ₹2.3K Cr | Dec 2024 ₹2.3K Cr | Mar 2025 ₹2.4K Cr | Jun 2025 ₹2.4K Cr | Sep 2025 ₹2.6K Cr | Dec 2025 ₹2.6K Cr | Mar 2026 ₹3.0K Cr | Jun 2026 —
- GANESHHOU: Sep 2021 ₹226 Cr | Dec 2021 ₹226 Cr | Mar 2022 ₹142 Cr | Jun 2022 ₹142 Cr | Sep 2022 ₹109 Cr | Dec 2022 ₹109 Cr | Mar 2023 ₹240 Cr | Jun 2023 ₹4 Cr | Sep 2023 ₹27 Cr | Dec 2023 ₹27 Cr | Mar 2024 ₹247 Cr | Jun 2024 ₹26 Cr | Sep 2024 ₹32 Cr | Dec 2024 ₹32 Cr | Mar 2025 ₹248 Cr | Jun 2025 ₹27 Cr | Sep 2025 ₹77 Cr | Dec 2025 ₹77 Cr | Mar 2026 ₹305 Cr | Jun 2026 —
- DBREALTY: Sep 2021 ₹3.1K Cr | Dec 2021 ₹3.1K Cr | Mar 2022 ₹3.7K Cr | Jun 2022 ₹3.3K Cr | Sep 2022 ₹2.6K Cr | Dec 2022 — | Mar 2023 ₹3.0K Cr | Jun 2023 ₹2.7K Cr | Sep 2023 ₹1.6K Cr | Dec 2023 ₹2.0K Cr | Mar 2024 ₹2.2K Cr | Jun 2024 — | Sep 2024 ₹2.0K Cr | Dec 2024 — | Mar 2025 ₹1.9K Cr | Jun 2025 ₹1.9K Cr | Sep 2025 ₹995 Cr | Dec 2025 ₹995 Cr | Mar 2026 ₹747 Cr | Jun 2026 —
- PURVA: Sep 2021 — | Dec 2021 — | Mar 2022 ₹2.6K Cr | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 ₹2.9K Cr | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 ₹3.3K Cr | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 ₹4.3K Cr | Jun 2025 — | Sep 2025 ₹4.5K Cr | Dec 2025 — | Mar 2026 ₹5.6K Cr | Jun 2026 —
- RUSTOMJEE: Sep 2021 — | Dec 2021 — | Mar 2022 ₹1.6K Cr | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 ₹1.0K Cr | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 ₹1.1K Cr | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 ₹930 Cr | Jun 2025 — | Sep 2025 ₹1.2K Cr | Dec 2025 — | Mar 2026 ₹1.5K Cr | Jun 2026 —
- SUNTECK: Sep 2021 ₹673 Cr | Dec 2021 ₹673 Cr | Mar 2022 ₹788 Cr | Jun 2022 ₹787 Cr | Sep 2022 ₹636 Cr | Dec 2022 ₹636 Cr | Mar 2023 ₹684 Cr | Jun 2023 ₹685 Cr | Sep 2023 ₹626 Cr | Dec 2023 ₹626 Cr | Mar 2024 ₹375 Cr | Jun 2024 ₹375 Cr | Sep 2024 ₹296 Cr | Dec 2024 ₹296 Cr | Mar 2025 ₹387 Cr | Jun 2025 ₹387 Cr | Sep 2025 ₹525 Cr | Dec 2025 ₹525 Cr | Mar 2026 ₹774 Cr | Jun 2026 ₹774 Cr
- RAYMOND: Sep 2021 — | Dec 2021 — | Mar 2022 ₹2.4K Cr | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 ₹2.5K Cr | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 ₹4.2K Cr | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 ₹740 Cr | Jun 2025 — | Sep 2025 ₹1.0K Cr | Dec 2025 — | Mar 2026 ₹1.1K Cr | Jun 2026 —
- AGIIL: Sep 2021 ₹41 Cr | Dec 2021 ₹41 Cr | Mar 2022 ₹42 Cr | Jun 2022 ₹42 Cr | Sep 2022 ₹40 Cr | Dec 2022 ₹40 Cr | Mar 2023 ₹49 Cr | Jun 2023 ₹49 Cr | Sep 2023 ₹76 Cr | Dec 2023 ₹76 Cr | Mar 2024 ₹138 Cr | Jun 2024 ₹138 Cr | Sep 2024 ₹142 Cr | Dec 2024 ₹142 Cr | Mar 2025 ₹137 Cr | Jun 2025 ₹137 Cr | Sep 2025 ₹143 Cr | Dec 2025 ₹143 Cr | Mar 2026 ₹186 Cr | Jun 2026 —
- ASHIANA: Sep 2021 ₹188 Cr | Dec 2021 ₹177 Cr | Mar 2022 ₹174 Cr | Jun 2022 ₹164 Cr | Sep 2022 ₹178 Cr | Dec 2022 ₹174 Cr | Mar 2023 ₹184 Cr | Jun 2023 ₹130 Cr | Sep 2023 ₹148 Cr | Dec 2023 ₹133 Cr | Mar 2024 ₹148 Cr | Jun 2024 ₹148 Cr | Sep 2024 ₹274 Cr | Dec 2024 ₹275 Cr | Mar 2025 ₹276 Cr | Jun 2025 ₹259 Cr | Sep 2025 ₹350 Cr | Dec 2025 ₹339 Cr | Mar 2026 ₹323 Cr | Jun 2026 —
- HEMIPROP: Sep 2021 ₹57 Cr | Dec 2021 ₹57 Cr | Mar 2022 ₹68 Cr | Jun 2022 ₹68 Cr | Sep 2022 ₹69 Cr | Dec 2022 ₹69 Cr | Mar 2023 ₹65 Cr | Jun 2023 ₹65 Cr | Sep 2023 ₹66 Cr | Dec 2023 ₹66 Cr | Mar 2024 ₹62 Cr | Jun 2024 ₹62 Cr | Sep 2024 ₹64 Cr | Dec 2024 ₹64 Cr | Mar 2025 ₹60 Cr | Jun 2025 ₹60 Cr | Sep 2025 ₹88 Cr | Dec 2025 ₹88 Cr | Mar 2026 ₹87 Cr | Jun 2026 —
- KOLTEPATIL: Sep 2021 ₹553 Cr | Dec 2021 ₹553 Cr | Mar 2022 ₹541 Cr | Jun 2022 ₹541 Cr | Sep 2022 ₹596 Cr | Dec 2022 ₹596 Cr | Mar 2023 ₹561 Cr | Jun 2023 ₹561 Cr | Sep 2023 ₹893 Cr | Dec 2023 ₹893 Cr | Mar 2024 ₹1.1K Cr | Jun 2024 ₹1.1K Cr | Sep 2024 ₹1.3K Cr | Dec 2024 ₹1.3K Cr | Mar 2025 ₹1.1K Cr | Jun 2025 ₹1.1K Cr | Sep 2025 ₹1.1K Cr | Dec 2025 ₹1.1K Cr | Mar 2026 ₹1.2K Cr | Jun 2026 —
- ARVSMART: Sep 2021 — | Dec 2021 — | Mar 2022 ₹30 Cr | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 ₹146 Cr | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 ₹110 Cr | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 ₹285 Cr | Jun 2025 — | Sep 2025 ₹170 Cr | Dec 2025 — | Mar 2026 ₹583 Cr | Jun 2026 —
- HUBTOWN: Sep 2021 ₹481 Cr | Dec 2021 ₹481 Cr | Mar 2022 ₹785 Cr | Jun 2022 ₹680 Cr | Sep 2022 ₹887 Cr | Dec 2022 ₹887 Cr | Mar 2023 ₹966 Cr | Jun 2023 ₹864 Cr | Sep 2023 ₹836 Cr | Dec 2023 ₹836 Cr | Mar 2024 ₹1.0K Cr | Jun 2024 ₹941 Cr | Sep 2024 ₹829 Cr | Dec 2024 ₹829 Cr | Mar 2025 ₹793 Cr | Jun 2025 ₹793 Cr | Sep 2025 ₹1.1K Cr | Dec 2025 ₹1.1K Cr | Mar 2026 ₹1.2K Cr | Jun 2026 —
- AJMERA: Sep 2021 — | Dec 2021 — | Mar 2022 ₹868 Cr | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 ₹843 Cr | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 ₹808 Cr | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 ₹676 Cr | Jun 2025 — | Sep 2025 ₹652 Cr | Dec 2025 — | Mar 2026 ₹711 Cr | Jun 2026 —
- CAPACITE: Sep 2021 ₹293 Cr | Dec 2021 ₹293 Cr | Mar 2022 ₹335 Cr | Jun 2022 ₹335 Cr | Sep 2022 ₹403 Cr | Dec 2022 ₹403 Cr | Mar 2023 ₹374 Cr | Jun 2023 ₹370 Cr | Sep 2023 ₹360 Cr | Dec 2023 ₹360 Cr | Mar 2024 ₹329 Cr | Jun 2024 ₹329 Cr | Sep 2024 ₹346 Cr | Dec 2024 ₹346 Cr | Mar 2025 ₹426 Cr | Jun 2025 ₹426 Cr | Sep 2025 ₹420 Cr | Dec 2025 ₹420 Cr | Mar 2026 ₹483 Cr | Jun 2026 —
- OMAXE: Sep 2021 ₹1.3K Cr | Dec 2021 ₹1.3K Cr | Mar 2022 ₹1.1K Cr | Jun 2022 ₹1.1K Cr | Sep 2022 ₹1.3K Cr | Dec 2022 ₹1.3K Cr | Mar 2023 ₹1.1K Cr | Jun 2023 ₹1.1K Cr | Sep 2023 ₹1.1K Cr | Dec 2023 ₹1.1K Cr | Mar 2024 ₹796 Cr | Jun 2024 ₹796 Cr | Sep 2024 ₹693 Cr | Dec 2024 ₹693 Cr | Mar 2025 ₹796 Cr | Jun 2025 ₹796 Cr | Sep 2025 ₹1.4K Cr | Dec 2025 ₹1.4K Cr | Mar 2026 ₹1.5K Cr | Jun 2026 —
- SHRIRAMPPS: Sep 2021 ₹697 Cr | Dec 2021 — | Mar 2022 ₹545 Cr | Jun 2022 ₹545 Cr | Sep 2022 ₹529 Cr | Dec 2022 ₹529 Cr | Mar 2023 ₹644 Cr | Jun 2023 ₹644 Cr | Sep 2023 ₹654 Cr | Dec 2023 ₹654 Cr | Mar 2024 ₹656 Cr | Jun 2024 ₹650 Cr | Sep 2024 ₹541 Cr | Dec 2024 ₹541 Cr | Mar 2025 ₹655 Cr | Jun 2025 ₹655 Cr | Sep 2025 ₹706 Cr | Dec 2025 ₹706 Cr | Mar 2026 ₹616 Cr | Jun 2026 —
- LGHL: Sep 2021 ₹19 Cr | Dec 2021 ₹34 Cr | Mar 2022 ₹34 Cr | Jun 2022 ₹47 Cr | Sep 2022 ₹47 Cr | Dec 2022 — | Mar 2023 ₹32 Cr | Jun 2023 — | Sep 2023 ₹36 Cr | Dec 2023 — | Mar 2024 ₹53 Cr | Jun 2024 ₹53 Cr | Sep 2024 ₹72 Cr | Dec 2024 ₹72 Cr | Mar 2025 ₹102 Cr | Jun 2025 ₹102 Cr | Sep 2025 ₹97 Cr | Dec 2025 ₹97 Cr | Mar 2026 ₹108 Cr | Jun 2026 —
- ARIHANT: Sep 2021 ₹311 Cr | Dec 2021 ₹311 Cr | Mar 2022 ₹338 Cr | Jun 2022 ₹363 Cr | Sep 2022 ₹292 Cr | Dec 2022 ₹292 Cr | Mar 2023 ₹175 Cr | Jun 2023 ₹136 Cr | Sep 2023 ₹152 Cr | Dec 2023 ₹152 Cr | Mar 2024 ₹141 Cr | Jun 2024 ₹118 Cr | Sep 2024 ₹137 Cr | Dec 2024 ₹137 Cr | Mar 2025 ₹149 Cr | Jun 2025 ₹154 Cr | Sep 2025 ₹301 Cr | Dec 2025 ₹321 Cr | Mar 2026 ₹400 Cr | Jun 2026 —
- SURAJEST: Sep 2021 — | Dec 2021 — | Mar 2022 ₹649 Cr | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 ₹593 Cr | Jun 2023 ₹599 Cr | Sep 2023 ₹559 Cr | Dec 2023 ₹559 Cr | Mar 2024 ₹441 Cr | Jun 2024 ₹430 Cr | Sep 2024 ₹449 Cr | Dec 2024 ₹449 Cr | Mar 2025 ₹461 Cr | Jun 2025 ₹461 Cr | Sep 2025 ₹550 Cr | Dec 2025 ₹550 Cr | Mar 2026 ₹645 Cr | Jun 2026 —
- ELDEHSG: Sep 2021 ₹3 Cr | Dec 2021 ₹3 Cr | Mar 2022 ₹3 Cr | Jun 2022 ₹3 Cr | Sep 2022 ₹3 Cr | Dec 2022 ₹3 Cr | Mar 2023 ₹3 Cr | Jun 2023 ₹3 Cr | Sep 2023 ₹84 Cr | Dec 2023 ₹84 Cr | Mar 2024 ₹84 Cr | Jun 2024 ₹84 Cr | Sep 2024 ₹113 Cr | Dec 2024 ₹113 Cr | Mar 2025 ₹116 Cr | Jun 2025 ₹120 Cr | Sep 2025 ₹105 Cr | Dec 2025 ₹105 Cr | Mar 2026 ₹154 Cr | Jun 2026 —
- PVP: Sep 2021 ₹357 Cr | Dec 2021 ₹357 Cr | Mar 2022 ₹373 Cr | Jun 2022 ₹373 Cr | Sep 2022 ₹166 Cr | Dec 2022 ₹166 Cr | Mar 2023 ₹119 Cr | Jun 2023 ₹119 Cr | Sep 2023 ₹26 Cr | Dec 2023 ₹26 Cr | Mar 2024 ₹43 Cr | Jun 2024 ₹43 Cr | Sep 2024 ₹16 Cr | Dec 2024 ₹16 Cr | Mar 2025 ₹23 Cr | Jun 2025 ₹23 Cr | Sep 2025 ₹188 Cr | Dec 2025 ₹188 Cr | Mar 2026 ₹256 Cr | Jun 2026 —
- GEECEE: Sep 2021 — | Dec 2021 — | Mar 2022 ₹0 Cr | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 ₹0 Cr | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 ₹0 Cr | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 ₹0 Cr | Jun 2025 — | Sep 2025 ₹0 Cr | Dec 2025 — | Mar 2026 ₹0 Cr | Jun 2026 —
- PENINLAND: Sep 2021 — | Dec 2021 — | Mar 2022 ₹783 Cr | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 ₹426 Cr | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 ₹307 Cr | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 ₹439 Cr | Jun 2025 — | Sep 2025 ₹452 Cr | Dec 2025 — | Mar 2026 ₹302 Cr | Jun 2026 —
- SBGLP: Sep 2021 — | Dec 2021 — | Mar 2022 ₹44 Cr | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 ₹32 Cr | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 ₹38 Cr | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 ₹73 Cr | Jun 2025 — | Sep 2025 ₹65 Cr | Dec 2025 — | Mar 2026 — | Jun 2026 —

### 20-quarter Net debt history
- SIGNATURE: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 ₹959 Cr | Sep 2022 — | Dec 2022 — | Mar 2023 ₹1.1K Cr | Jun 2023 ₹1.1K Cr | Sep 2023 ₹261 Cr | Dec 2023 ₹261 Cr | Mar 2024 ₹1.2K Cr | Jun 2024 ₹1.2K Cr | Sep 2024 ₹1.1K Cr | Dec 2024 ₹1.1K Cr | Mar 2025 ₹907 Cr | Jun 2025 ₹896 Cr | Sep 2025 ₹993 Cr | Dec 2025 ₹993 Cr | Mar 2026 ₹242 Cr | Jun 2026 —
- GANESHHOU: Sep 2021 ₹201 Cr | Dec 2021 ₹201 Cr | Mar 2022 ₹127 Cr | Jun 2022 ₹127 Cr | Sep 2022 ₹75 Cr | Dec 2022 ₹75 Cr | Mar 2023 ₹-306 Cr | Jun 2023 ₹-321 Cr | Sep 2023 ₹-50 Cr | Dec 2023 ₹-50 Cr | Mar 2024 ₹-204 Cr | Jun 2024 ₹-205 Cr | Sep 2024 ₹-92 Cr | Dec 2024 ₹-92 Cr | Mar 2025 ₹-130 Cr | Jun 2025 ₹-130 Cr | Sep 2025 ₹72 Cr | Dec 2025 ₹72 Cr | Mar 2026 ₹246 Cr | Jun 2026 —
- DBREALTY: Sep 2021 ₹3.0K Cr | Dec 2021 ₹3.0K Cr | Mar 2022 ₹3.3K Cr | Jun 2022 ₹3.1K Cr | Sep 2022 ₹2.4K Cr | Dec 2022 — | Mar 2023 ₹2.5K Cr | Jun 2023 ₹2.5K Cr | Sep 2023 ₹1.2K Cr | Dec 2023 ₹2.0K Cr | Mar 2024 ₹1.2K Cr | Jun 2024 — | Sep 2024 ₹1.8K Cr | Dec 2024 — | Mar 2025 ₹1.6K Cr | Jun 2025 ₹1.6K Cr | Sep 2025 ₹816 Cr | Dec 2025 ₹816 Cr | Mar 2026 ₹667 Cr | Jun 2026 —
- SUNTECK: Sep 2021 ₹565 Cr | Dec 2021 ₹565 Cr | Mar 2022 ₹697 Cr | Jun 2022 ₹690 Cr | Sep 2022 ₹557 Cr | Dec 2022 ₹557 Cr | Mar 2023 ₹541 Cr | Jun 2023 ₹527 Cr | Sep 2023 ₹558 Cr | Dec 2023 ₹558 Cr | Mar 2024 ₹271 Cr | Jun 2024 ₹269 Cr | Sep 2024 ₹202 Cr | Dec 2024 ₹202 Cr | Mar 2025 ₹185 Cr | Jun 2025 ₹184 Cr | Sep 2025 ₹462 Cr | Dec 2025 ₹462 Cr | Mar 2026 ₹679 Cr | Jun 2026 ₹679 Cr
- AGIIL: Sep 2021 ₹13 Cr | Dec 2021 ₹13 Cr | Mar 2022 ₹10 Cr | Jun 2022 ₹11 Cr | Sep 2022 ₹9 Cr | Dec 2022 ₹9 Cr | Mar 2023 ₹3 Cr | Jun 2023 ₹4 Cr | Sep 2023 ₹-9 Cr | Dec 2023 ₹-9 Cr | Mar 2024 ₹37 Cr | Jun 2024 ₹38 Cr | Sep 2024 ₹47 Cr | Dec 2024 ₹47 Cr | Mar 2025 ₹109 Cr | Jun 2025 ₹109 Cr | Sep 2025 ₹128 Cr | Dec 2025 ₹128 Cr | Mar 2026 ₹88 Cr | Jun 2026 —
- ASHIANA: Sep 2021 ₹-42 Cr | Dec 2021 ₹-95 Cr | Mar 2022 ₹-24 Cr | Jun 2022 ₹-73 Cr | Sep 2022 ₹-67 Cr | Dec 2022 ₹-70 Cr | Mar 2023 ₹-38 Cr | Jun 2023 ₹-125 Cr | Sep 2023 ₹-106 Cr | Dec 2023 ₹-147 Cr | Mar 2024 ₹-80 Cr | Jun 2024 ₹-191 Cr | Sep 2024 ₹-134 Cr | Dec 2024 ₹-214 Cr | Mar 2025 ₹-73 Cr | Jun 2025 ₹-375 Cr | Sep 2025 ₹-357 Cr | Dec 2025 ₹-490 Cr | Mar 2026 ₹-551 Cr | Jun 2026 —
- HEMIPROP: Sep 2021 ₹-66 Cr | Dec 2021 ₹-66 Cr | Mar 2022 ₹-80 Cr | Jun 2022 ₹-80 Cr | Sep 2022 ₹-66 Cr | Dec 2022 ₹-66 Cr | Mar 2023 ₹-54 Cr | Jun 2023 ₹-54 Cr | Sep 2023 ₹-48 Cr | Dec 2023 ₹-48 Cr | Mar 2024 ₹62 Cr | Jun 2024 ₹62 Cr | Sep 2024 ₹64 Cr | Dec 2024 ₹64 Cr | Mar 2025 ₹10 Cr | Jun 2025 ₹10 Cr | Sep 2025 ₹63 Cr | Dec 2025 ₹63 Cr | Mar 2026 ₹62 Cr | Jun 2026 —
- KOLTEPATIL: Sep 2021 ₹386 Cr | Dec 2021 ₹386 Cr | Mar 2022 ₹380 Cr | Jun 2022 ₹380 Cr | Sep 2022 ₹362 Cr | Dec 2022 ₹362 Cr | Mar 2023 ₹333 Cr | Jun 2023 ₹333 Cr | Sep 2023 ₹550 Cr | Dec 2023 ₹550 Cr | Mar 2024 ₹724 Cr | Jun 2024 ₹724 Cr | Sep 2024 ₹683 Cr | Dec 2024 ₹683 Cr | Mar 2025 ₹884 Cr | Jun 2025 ₹658 Cr | Sep 2025 ₹189 Cr | Dec 2025 ₹189 Cr | Mar 2026 ₹423 Cr | Jun 2026 —
- HUBTOWN: Sep 2021 ₹398 Cr | Dec 2021 ₹398 Cr | Mar 2022 ₹1.1K Cr | Jun 2022 ₹624 Cr | Sep 2022 ₹843 Cr | Dec 2022 ₹843 Cr | Mar 2023 ₹1.0K Cr | Jun 2023 ₹801 Cr | Sep 2023 ₹774 Cr | Dec 2023 ₹774 Cr | Mar 2024 ₹1.1K Cr | Jun 2024 ₹809 Cr | Sep 2024 ₹240 Cr | Dec 2024 ₹240 Cr | Mar 2025 ₹682 Cr | Jun 2025 ₹602 Cr | Sep 2025 ₹842 Cr | Dec 2025 ₹842 Cr | Mar 2026 ₹866 Cr | Jun 2026 —
- CAPACITE: Sep 2021 ₹140 Cr | Dec 2021 ₹140 Cr | Mar 2022 ₹221 Cr | Jun 2022 ₹151 Cr | Sep 2022 ₹263 Cr | Dec 2022 ₹263 Cr | Mar 2023 ₹236 Cr | Jun 2023 ₹195 Cr | Sep 2023 ₹220 Cr | Dec 2023 ₹220 Cr | Mar 2024 ₹220 Cr | Jun 2024 ₹120 Cr | Sep 2024 ₹193 Cr | Dec 2024 ₹193 Cr | Mar 2025 ₹359 Cr | Jun 2025 ₹359 Cr | Sep 2025 ₹240 Cr | Dec 2025 ₹240 Cr | Mar 2026 ₹381 Cr | Jun 2026 —
- OMAXE: Sep 2021 ₹1.1K Cr | Dec 2021 ₹1.1K Cr | Mar 2022 ₹1.0K Cr | Jun 2022 ₹827 Cr | Sep 2022 ₹811 Cr | Dec 2022 ₹811 Cr | Mar 2023 ₹915 Cr | Jun 2023 ₹614 Cr | Sep 2023 ₹495 Cr | Dec 2023 ₹495 Cr | Mar 2024 ₹606 Cr | Jun 2024 ₹256 Cr | Sep 2024 ₹115 Cr | Dec 2024 ₹115 Cr | Mar 2025 ₹495 Cr | Jun 2025 ₹52 Cr | Sep 2025 ₹442 Cr | Dec 2025 ₹442 Cr | Mar 2026 ₹557 Cr | Jun 2026 —
- SHRIRAMPPS: Sep 2021 ₹656 Cr | Dec 2021 — | Mar 2022 ₹411 Cr | Jun 2022 ₹408 Cr | Sep 2022 ₹428 Cr | Dec 2022 ₹428 Cr | Mar 2023 ₹541 Cr | Jun 2023 ₹526 Cr | Sep 2023 ₹554 Cr | Dec 2023 ₹554 Cr | Mar 2024 ₹471 Cr | Jun 2024 ₹465 Cr | Sep 2024 ₹419 Cr | Dec 2024 ₹419 Cr | Mar 2025 ₹353 Cr | Jun 2025 ₹338 Cr | Sep 2025 ₹420 Cr | Dec 2025 ₹420 Cr | Mar 2026 ₹461 Cr | Jun 2026 —
- LGHL: Sep 2021 ₹18 Cr | Dec 2021 ₹32 Cr | Mar 2022 ₹32 Cr | Jun 2022 ₹36 Cr | Sep 2022 ₹36 Cr | Dec 2022 — | Mar 2023 ₹29 Cr | Jun 2023 — | Sep 2023 ₹30 Cr | Dec 2023 — | Mar 2024 ₹43 Cr | Jun 2024 ₹41 Cr | Sep 2024 ₹71 Cr | Dec 2024 ₹71 Cr | Mar 2025 ₹101 Cr | Jun 2025 ₹101 Cr | Sep 2025 ₹95 Cr | Dec 2025 ₹95 Cr | Mar 2026 ₹106 Cr | Jun 2026 —
- ARIHANT: Sep 2021 ₹306 Cr | Dec 2021 ₹306 Cr | Mar 2022 ₹331 Cr | Jun 2022 ₹356 Cr | Sep 2022 ₹277 Cr | Dec 2022 ₹277 Cr | Mar 2023 ₹146 Cr | Jun 2023 ₹107 Cr | Sep 2023 ₹145 Cr | Dec 2023 ₹145 Cr | Mar 2024 ₹131 Cr | Jun 2024 ₹108 Cr | Sep 2024 ₹119 Cr | Dec 2024 ₹119 Cr | Mar 2025 ₹76 Cr | Jun 2025 ₹81 Cr | Sep 2025 ₹270 Cr | Dec 2025 ₹270 Cr | Mar 2026 ₹153 Cr | Jun 2026 —
- SURAJEST: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 ₹560 Cr | Sep 2023 ₹535 Cr | Dec 2023 ₹535 Cr | Mar 2024 ₹428 Cr | Jun 2024 ₹318 Cr | Sep 2024 ₹388 Cr | Dec 2024 ₹388 Cr | Mar 2025 ₹450 Cr | Jun 2025 ₹419 Cr | Sep 2025 ₹502 Cr | Dec 2025 ₹502 Cr | Mar 2026 ₹591 Cr | Jun 2026 —
- ELDEHSG: Sep 2021 ₹-157 Cr | Dec 2021 ₹-157 Cr | Mar 2022 ₹-147 Cr | Jun 2022 ₹-157 Cr | Sep 2022 ₹-161 Cr | Dec 2022 ₹-161 Cr | Mar 2023 ₹-147 Cr | Jun 2023 ₹-140 Cr | Sep 2023 ₹-73 Cr | Dec 2023 ₹-73 Cr | Mar 2024 ₹-15 Cr | Jun 2024 ₹-33 Cr | Sep 2024 ₹-17 Cr | Dec 2024 ₹-17 Cr | Mar 2025 ₹-4 Cr | Jun 2025 ₹-3 Cr | Sep 2025 ₹-51 Cr | Dec 2025 ₹-51 Cr | Mar 2026 ₹-107 Cr | Jun 2026 —
- PVP: Sep 2021 ₹356 Cr | Dec 2021 ₹356 Cr | Mar 2022 ₹373 Cr | Jun 2022 ₹364 Cr | Sep 2022 ₹166 Cr | Dec 2022 ₹166 Cr | Mar 2023 ₹113 Cr | Jun 2023 ₹115 Cr | Sep 2023 ₹19 Cr | Dec 2023 ₹19 Cr | Mar 2024 ₹37 Cr | Jun 2024 ₹35 Cr | Sep 2024 ₹13 Cr | Dec 2024 ₹13 Cr | Mar 2025 ₹22 Cr | Jun 2025 ₹22 Cr | Sep 2025 ₹184 Cr | Dec 2025 ₹184 Cr | Mar 2026 ₹205 Cr | Jun 2026 —

## Return On Capital Employed

What the numbers say: Kesar India Ltd leads ROCE at 23.4%, 3.3 percentage points above AGI Infra Ltd. Ashiana Housing Ltd has the strongest latest improvement at +9 percentage points. Read the leader beside the density of its reported history: a sparse high return is a candidate; a repeated high return is evidence of durability.

Investor read: Kesar India Ltd sets the level benchmark; use the change leader as an inflection watch only after another comparable report confirms it.

This conclusion weakens if: The next two comparable reports reverse the current roce change signal.

Evidence: Kesar India Ltd · 23.4% | 16.4% versus #2 · AGI Infra Ltd | Not enough history | 26/26 companies · 266 observations

Definition: ROCE asks how much operating return the business earns on the capital employed. Direction matters, but a single exceptional year should not be mistaken for durability.

### ROCE — highest
1. Kesar India Ltd (543542): 23%
2. AGI Infra Ltd (AGIIL): 20%
3. Ganesh Housing Ltd (GANESHHOU): 19%
4. Arihant Foundations & Housing Ltd (ARIHANT): 18%
5. Laxmi Goldorna House Ltd (LGHL): 17%

### ROCE change — fastest improvers
1. Ashiana Housing Ltd (ASHIANA): +9.0 pp
2. Puravankara Ltd (PURVA): +5.0 pp
3. Valor Estate Ltd (DBREALTY): +4.1 pp
4. PVP Ventures Ltd (PVP): +3.8 pp
5. Shriram Properties Ltd (SHRIRAMPPS): +2.8 pp

### 20-quarter ROCE history
- SIGNATURE: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 0.4% | Jun 2023 — | Sep 2023 -1.9% | Dec 2023 1.7% | Mar 2024 -2.4% | Jun 2024 3.4% | Sep 2024 -0.9% | Dec 2024 6.1% | Mar 2025 0.7% | Jun 2025 9.1% | Sep 2025 -0.6% | Dec 2025 2.3% | Mar 2026 -2.1% | Jun 2026 —
- GANESHHOU: Sep 2021 7.1% | Dec 2021 — | Mar 2022 14% | Jun 2022 — | Sep 2022 16% | Dec 2022 — | Mar 2023 21% | Jun 2023 — | Sep 2023 35% | Dec 2023 45% | Mar 2024 39% | Jun 2024 41% | Sep 2024 47% | Dec 2024 54% | Mar 2025 37% | Jun 2025 43% | Sep 2025 31% | Dec 2025 32% | Mar 2026 17% | Jun 2026 —
- DBREALTY: Sep 2021 -4.9% | Dec 2021 — | Mar 2022 1.2% | Jun 2022 — | Sep 2022 3.5% | Dec 2022 — | Mar 2023 -18% | Jun 2023 — | Sep 2023 -10% | Dec 2023 2.5% | Mar 2024 5.6% | Jun 2024 28% | Sep 2024 2.6% | Dec 2024 -2.1% | Mar 2025 -2.7% | Jun 2025 -1.6% | Sep 2025 0.5% | Dec 2025 3.5% | Mar 2026 1.4% | Jun 2026 —
- SUNTECK: Sep 2021 4.5% | Dec 2021 — | Mar 2022 2.8% | Jun 2022 — | Sep 2022 2.6% | Dec 2022 — | Mar 2023 1.7% | Jun 2023 — | Sep 2023 -0.7% | Dec 2023 0.0% | Mar 2024 3.2% | Jun 2024 5.9% | Sep 2024 5.9% | Dec 2024 9.4% | Mar 2025 5.0% | Jun 2025 7.1% | Sep 2025 6.3% | Dec 2025 8.8% | Mar 2026 5.8% | Jun 2026 8.3%
- AGIIL: Sep 2021 29% | Dec 2021 — | Mar 2022 32% | Jun 2022 — | Sep 2022 27% | Dec 2022 — | Mar 2023 23% | Jun 2023 — | Sep 2023 26% | Dec 2023 33% | Mar 2024 25% | Jun 2024 32% | Sep 2024 23% | Dec 2024 30% | Mar 2025 21% | Jun 2025 28% | Sep 2025 22% | Dec 2025 28% | Mar 2026 18% | Jun 2026 —
- ASHIANA: Sep 2021 -2.6% | Dec 2021 -3.8% | Mar 2022 -3.4% | Jun 2022 -1.2% | Sep 2022 -1.3% | Dec 2022 0.6% | Mar 2023 1.8% | Jun 2023 1.0% | Sep 2023 5.2% | Dec 2023 7.7% | Mar 2024 8.7% | Jun 2024 9.7% | Sep 2024 2.6% | Dec 2024 1.1% | Mar 2025 0.6% | Jun 2025 2.2% | Sep 2025 5.4% | Dec 2025 9.2% | Mar 2026 9.6% | Jun 2026 —
- HEMIPROP: Sep 2021 -3.3% | Dec 2021 — | Mar 2022 -3.7% | Jun 2022 — | Sep 2022 -3.1% | Dec 2022 — | Mar 2023 -1.8% | Jun 2023 — | Sep 2023 -2.2% | Dec 2023 -0.3% | Mar 2024 -3.2% | Jun 2024 -1.5% | Sep 2024 -3.3% | Dec 2024 -1.7% | Mar 2025 -2.2% | Jun 2025 -0.8% | Sep 2025 -2.0% | Dec 2025 -1.1% | Mar 2026 -1.9% | Jun 2026 —
- KOLTEPATIL: Sep 2021 14% | Dec 2021 — | Mar 2022 13% | Jun 2022 — | Sep 2022 7.7% | Dec 2022 — | Mar 2023 13% | Jun 2023 — | Sep 2023 13% | Dec 2023 15% | Mar 2024 3.3% | Jun 2024 -2.6% | Sep 2024 -1.7% | Dec 2024 6.4% | Mar 2025 19% | Jun 2025 16% | Sep 2025 4.2% | Dec 2025 9.6% | Mar 2026 -6.2% | Jun 2026 —
- HUBTOWN: Sep 2021 -0.8% | Dec 2021 — | Mar 2022 -3.7% | Jun 2022 — | Sep 2022 -2.3% | Dec 2022 — | Mar 2023 5.0% | Jun 2023 5.6% | Sep 2023 5.9% | Dec 2023 5.5% | Mar 2024 -8.2% | Jun 2024 -0.7% | Sep 2024 -3.9% | Dec 2024 5.1% | Mar 2025 3.7% | Jun 2025 13% | Sep 2025 3.1% | Dec 2025 8.4% | Mar 2026 4.0% | Jun 2026 —
- CAPACITE: Sep 2021 9.3% | Dec 2021 — | Mar 2022 8.8% | Jun 2022 — | Sep 2022 12% | Dec 2022 — | Mar 2023 16% | Jun 2023 — | Sep 2023 14% | Dec 2023 16% | Mar 2024 13% | Jun 2024 19% | Sep 2024 16% | Dec 2024 22% | Mar 2025 14% | Jun 2025 18% | Sep 2025 13% | Dec 2025 18% | Mar 2026 15% | Jun 2026 —
- OMAXE: Sep 2021 -7.1% | Dec 2021 — | Mar 2022 -4.2% | Jun 2022 — | Sep 2022 -6.8% | Dec 2022 — | Mar 2023 -17% | Jun 2023 — | Sep 2023 -31% | Dec 2023 -19% | Mar 2024 -24% | Jun 2024 -21% | Sep 2024 -51% | Dec 2024 -49% | Mar 2025 -70% | Jun 2025 -48% | Sep 2025 -53% | Dec 2025 -49% | Mar 2026 -85% | Jun 2026 —
- SHRIRAMPPS: Sep 2021 2.3% | Dec 2021 — | Mar 2022 7.6% | Jun 2022 — | Sep 2022 12% | Dec 2022 — | Mar 2023 4.0% | Jun 2023 — | Sep 2023 5.3% | Dec 2023 15% | Mar 2024 6.6% | Jun 2024 14% | Sep 2024 1.5% | Dec 2024 11% | Mar 2025 2.1% | Jun 2025 13% | Sep 2025 3.2% | Dec 2025 11% | Mar 2026 4.9% | Jun 2026 —
- LGHL: Sep 2021 4.2% | Dec 2021 3.6% | Mar 2022 4.1% | Jun 2022 3.0% | Sep 2022 3.0% | Dec 2022 — | Mar 2023 10% | Jun 2023 — | Sep 2023 11% | Dec 2023 — | Mar 2024 20% | Jun 2024 — | Sep 2024 20% | Dec 2024 — | Mar 2025 17% | Jun 2025 — | Sep 2025 15% | Dec 2025 — | Mar 2026 10% | Jun 2026 —
- ARIHANT: Sep 2021 -2.3% | Dec 2021 — | Mar 2022 -1.8% | Jun 2022 — | Sep 2022 6.0% | Dec 2022 — | Mar 2023 8.0% | Jun 2023 — | Sep 2023 7.0% | Dec 2023 12% | Mar 2024 12% | Jun 2024 15% | Sep 2024 18% | Dec 2024 20% | Mar 2025 18% | Jun 2025 23% | Sep 2025 15% | Dec 2025 22% | Mar 2026 12% | Jun 2026 —
- SURAJEST: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 11% | Sep 2023 30% | Dec 2023 — | Mar 2024 30% | Jun 2024 42% | Sep 2024 30% | Dec 2024 38% | Mar 2025 16% | Jun 2025 19% | Sep 2025 13% | Dec 2025 17% | Mar 2026 14% | Jun 2026 —
- ELDEHSG: Sep 2021 22% | Dec 2021 — | Mar 2022 19% | Jun 2022 — | Sep 2022 16% | Dec 2022 — | Mar 2023 15% | Jun 2023 — | Sep 2023 10% | Dec 2023 14% | Mar 2024 8.5% | Jun 2024 12% | Sep 2024 7.7% | Dec 2024 9.7% | Mar 2025 5.1% | Jun 2025 6.0% | Sep 2025 3.5% | Dec 2025 7.5% | Mar 2026 5.7% | Jun 2026 —
- PVP: Sep 2021 -31% | Dec 2021 — | Mar 2022 -22% | Jun 2022 — | Sep 2022 48% | Dec 2022 — | Mar 2023 74% | Jun 2023 — | Sep 2023 -12% | Dec 2023 -24% | Mar 2024 -4.4% | Jun 2024 28% | Sep 2024 -4.7% | Dec 2024 -1.0% | Mar 2025 -2.9% | Jun 2025 1.4% | Sep 2025 1.1% | Dec 2025 4.6% | Mar 2026 0.9% | Jun 2026 —
- GEECEE: Sep 2021 3.9% | Dec 2021 — | Mar 2022 4.6% | Jun 2022 — | Sep 2022 7.1% | Dec 2022 — | Mar 2023 2.5% | Jun 2023 — | Sep 2023 0.0% | Dec 2023 1.3% | Mar 2024 6.5% | Jun 2024 8.2% | Sep 2024 8.0% | Dec 2024 11% | Mar 2025 7.2% | Jun 2025 6.4% | Sep 2025 5.2% | Dec 2025 3.1% | Mar 2026 5.7% | Jun 2026 —

### 20-quarter ROCE change history
- SIGNATURE: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 −2.8 pp | Jun 2024 — | Sep 2024 +1.0 pp | Dec 2024 +4.4 pp | Mar 2025 +3.1 pp | Jun 2025 +5.7 pp | Sep 2025 +0.3 pp | Dec 2025 −3.8 pp | Mar 2026 −2.8 pp | Jun 2026 —
- GANESHHOU: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 +8.5 pp | Dec 2022 — | Mar 2023 +6.9 pp | Jun 2023 — | Sep 2023 +19.7 pp | Dec 2023 — | Mar 2024 +18.5 pp | Jun 2024 — | Sep 2024 +11.7 pp | Dec 2024 +9.0 pp | Mar 2025 −2.1 pp | Jun 2025 +2.0 pp | Sep 2025 −15.6 pp | Dec 2025 −22.3 pp | Mar 2026 −20.4 pp | Jun 2026 —
- DBREALTY: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 +8.4 pp | Dec 2022 — | Mar 2023 −19.4 pp | Jun 2023 — | Sep 2023 −13.9 pp | Dec 2023 — | Mar 2024 +23.8 pp | Jun 2024 — | Sep 2024 +13.0 pp | Dec 2024 −4.6 pp | Mar 2025 −8.3 pp | Jun 2025 −29.2 pp | Sep 2025 −2.1 pp | Dec 2025 +5.6 pp | Mar 2026 +4.1 pp | Jun 2026 —
- SUNTECK: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 −1.9 pp | Dec 2022 — | Mar 2023 −1.1 pp | Jun 2023 — | Sep 2023 −3.3 pp | Dec 2023 — | Mar 2024 +1.5 pp | Jun 2024 — | Sep 2024 +6.6 pp | Dec 2024 +9.4 pp | Mar 2025 +1.8 pp | Jun 2025 +1.2 pp | Sep 2025 +0.4 pp | Dec 2025 −0.6 pp | Mar 2026 +0.8 pp | Jun 2026 +1.2 pp
- AGIIL: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 −1.6 pp | Dec 2022 — | Mar 2023 −8.3 pp | Jun 2023 — | Sep 2023 −0.9 pp | Dec 2023 — | Mar 2024 +1.5 pp | Jun 2024 — | Sep 2024 −3.2 pp | Dec 2024 −2.9 pp | Mar 2025 −3.7 pp | Jun 2025 −4.3 pp | Sep 2025 −1.0 pp | Dec 2025 −2.3 pp | Mar 2026 −3.7 pp | Jun 2026 —
- ASHIANA: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 +1.3 pp | Dec 2022 +4.4 pp | Mar 2023 +5.2 pp | Jun 2023 +2.2 pp | Sep 2023 +6.5 pp | Dec 2023 +7.1 pp | Mar 2024 +6.9 pp | Jun 2024 +8.7 pp | Sep 2024 −2.6 pp | Dec 2024 −6.6 pp | Mar 2025 −8.1 pp | Jun 2025 −7.5 pp | Sep 2025 +2.8 pp | Dec 2025 +8.1 pp | Mar 2026 +9.0 pp | Jun 2026 —
- HEMIPROP: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 +0.2 pp | Dec 2022 — | Mar 2023 +1.9 pp | Jun 2023 — | Sep 2023 +0.9 pp | Dec 2023 — | Mar 2024 −1.4 pp | Jun 2024 — | Sep 2024 −1.1 pp | Dec 2024 −1.4 pp | Mar 2025 +1.0 pp | Jun 2025 +0.7 pp | Sep 2025 +1.3 pp | Dec 2025 +0.6 pp | Mar 2026 +0.3 pp | Jun 2026 —
- KOLTEPATIL: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 −6.6 pp | Dec 2022 — | Mar 2023 +0.2 pp | Jun 2023 — | Sep 2023 +4.9 pp | Dec 2023 — | Mar 2024 −9.9 pp | Jun 2024 — | Sep 2024 −14.3 pp | Dec 2024 −8.3 pp | Mar 2025 +15.2 pp | Jun 2025 +18.9 pp | Sep 2025 +5.9 pp | Dec 2025 +3.2 pp | Mar 2026 −24.7 pp | Jun 2026 —
- HUBTOWN: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 −1.5 pp | Dec 2022 — | Mar 2023 +8.7 pp | Jun 2023 — | Sep 2023 +8.2 pp | Dec 2023 — | Mar 2024 −13.2 pp | Jun 2024 −6.3 pp | Sep 2024 −9.8 pp | Dec 2024 −0.4 pp | Mar 2025 +11.9 pp | Jun 2025 +13.3 pp | Sep 2025 +7.0 pp | Dec 2025 +3.3 pp | Mar 2026 +0.3 pp | Jun 2026 —
- CAPACITE: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 +2.7 pp | Dec 2022 — | Mar 2023 +6.8 pp | Jun 2023 — | Sep 2023 +1.9 pp | Dec 2023 — | Mar 2024 −2.9 pp | Jun 2024 — | Sep 2024 +2.1 pp | Dec 2024 +5.7 pp | Mar 2025 +1.2 pp | Jun 2025 −0.6 pp | Sep 2025 −2.8 pp | Dec 2025 −3.7 pp | Mar 2026 +0.6 pp | Jun 2026 —
- OMAXE: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 +0.3 pp | Dec 2022 — | Mar 2023 −12.9 pp | Jun 2023 — | Sep 2023 −24.2 pp | Dec 2023 — | Mar 2024 −7.0 pp | Jun 2024 — | Sep 2024 −20.2 pp | Dec 2024 −30.4 pp | Mar 2025 −45.6 pp | Jun 2025 −27.1 pp | Sep 2025 −1.7 pp | Dec 2025 +0.3 pp | Mar 2026 −15.6 pp | Jun 2026 —
- SHRIRAMPPS: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 +9.4 pp | Dec 2022 — | Mar 2023 −3.6 pp | Jun 2023 — | Sep 2023 −6.4 pp | Dec 2023 — | Mar 2024 +2.6 pp | Jun 2024 — | Sep 2024 −3.8 pp | Dec 2024 −4.1 pp | Mar 2025 −4.5 pp | Jun 2025 −1.2 pp | Sep 2025 +1.7 pp | Dec 2025 +0.1 pp | Mar 2026 +2.8 pp | Jun 2026 —
- LGHL: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 −1.2 pp | Dec 2022 — | Mar 2023 +6.0 pp | Jun 2023 — | Sep 2023 +8.2 pp | Dec 2023 — | Mar 2024 +9.6 pp | Jun 2024 — | Sep 2024 +8.7 pp | Dec 2024 — | Mar 2025 −3.1 pp | Jun 2025 — | Sep 2025 −4.6 pp | Dec 2025 — | Mar 2026 −6.3 pp | Jun 2026 —
- ARIHANT: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 +8.3 pp | Dec 2022 — | Mar 2023 +9.8 pp | Jun 2023 — | Sep 2023 +1.0 pp | Dec 2023 — | Mar 2024 +3.5 pp | Jun 2024 — | Sep 2024 +11.2 pp | Dec 2024 +7.6 pp | Mar 2025 +6.3 pp | Jun 2025 +8.2 pp | Sep 2025 −3.7 pp | Dec 2025 +1.6 pp | Mar 2026 −6.2 pp | Jun 2026 —
- SURAJEST: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 +30.8 pp | Sep 2024 −0.6 pp | Dec 2024 — | Mar 2025 −14.4 pp | Jun 2025 −23.3 pp | Sep 2025 −16.7 pp | Dec 2025 −20.7 pp | Mar 2026 −1.9 pp | Jun 2026 —
- ELDEHSG: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 −6.2 pp | Dec 2022 — | Mar 2023 −4.4 pp | Jun 2023 — | Sep 2023 −5.8 pp | Dec 2023 — | Mar 2024 −6.0 pp | Jun 2024 — | Sep 2024 −2.4 pp | Dec 2024 −3.8 pp | Mar 2025 −3.4 pp | Jun 2025 −6.3 pp | Sep 2025 −4.2 pp | Dec 2025 −2.2 pp | Mar 2026 +0.6 pp | Jun 2026 —
- PVP: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 +78.8 pp | Dec 2022 — | Mar 2023 +95.9 pp | Jun 2023 — | Sep 2023 −59.3 pp | Dec 2023 — | Mar 2024 −78.1 pp | Jun 2024 — | Sep 2024 +6.9 pp | Dec 2024 +22.6 pp | Mar 2025 +1.5 pp | Jun 2025 −26.7 pp | Sep 2025 +5.8 pp | Dec 2025 +5.6 pp | Mar 2026 +3.8 pp | Jun 2026 —
- GEECEE: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 +3.2 pp | Dec 2022 — | Mar 2023 −2.1 pp | Jun 2023 — | Sep 2023 −7.1 pp | Dec 2023 — | Mar 2024 +4.0 pp | Jun 2024 — | Sep 2024 +8.0 pp | Dec 2024 +9.7 pp | Mar 2025 +0.7 pp | Jun 2025 −1.8 pp | Sep 2025 −2.8 pp | Dec 2025 −7.9 pp | Mar 2026 −1.5 pp | Jun 2026 —

## Valuation Against Growth & Quality

What the numbers say: Ganesh Housing Ltd has the lowest comparable Guarded PEG at 0.31×, 64.4% below Sunteck Realty Ltd. Only 6 of 26 companies pass the guard, so no broad “cheapest stock” conclusion is defensible unless the current multiple, own-history position and growth durability agree.

Investor read: Treat valuation as permission to investigate, never as a standalone reason to buy.

This conclusion weakens if: The next two comparable reports reverse the current p/e signal.

Evidence: Ganesh Housing Ltd · 0.31× | 64.4% versus #2 · Sunteck Realty Ltd | 0/8 recent comparable periods | 6/26 companies · 31 observations

Definition: PEG is shown only when earnings are positive and three-year EPS growth is between 5% and 60%. It is recomputed consistently as the trailing P/E divided by that growth rate — reported earnings, never an expected-earnings multiple. On Indian companies it is shown only where the two data sources reconciled. A missing PEG is more honest than a low-base fiction.

### Guarded PEG — lowest PEG
1. Ganesh Housing Ltd (GANESHHOU): 0.3
2. Sunteck Realty Ltd (SUNTECK): 0.9
3. AGI Infra Ltd (AGIIL): 1.4
4. SignatureGlobal India Ltd (SIGNATURE): 3.9
5. Valor Estate Ltd (DBREALTY): 4.2

### P/E — lowest P/E
1. Raymond Ltd (RAYMOND): 0.7
2. Capacite Infraprojects Ltd (CAPACITE): 9.5
3. Suraj Estate Developers Ltd (SURAJEST): 10.2
4. Shriram Properties Ltd (SHRIRAMPPS): 14.4
5. Ajmera Realty & Infra India Ltd (AJMERA): 16.1

### 20-quarter Guarded PEG history
- SIGNATURE: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 3.9 | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 — | Jun 2026 —
- GANESHHOU: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 0.4 | Sep 2022 — | Dec 2022 — | Mar 2023 4.5 | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 0.3 | Mar 2025 0.4 | Jun 2025 0.5 | Sep 2025 0.3 | Dec 2025 — | Mar 2026 — | Jun 2026 —
- DBREALTY: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 4.2 | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 — | Jun 2026 —
- SUNTECK: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 0.9 | Sep 2025 0.9 | Dec 2025 1.9 | Mar 2026 — | Jun 2026 0.9
- AGIIL: Sep 2021 0.3 | Dec 2021 0.1 | Mar 2022 0.2 | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 0.2 | Jun 2023 0.4 | Sep 2023 0.6 | Dec 2023 0.8 | Mar 2024 0.9 | Jun 2024 2.5 | Sep 2024 4.3 | Dec 2024 7.9 | Mar 2025 4.7 | Jun 2025 1.4 | Sep 2025 1.8 | Dec 2025 1.3 | Mar 2026 1.4 | Jun 2026 —
- ASHIANA: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 4.7 | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 — | Jun 2026 —
- KOLTEPATIL: Sep 2021 — | Dec 2021 — | Mar 2022 1.0 | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 0.7 | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 — | Jun 2026 —

### 20-quarter P/E history
- 543542: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 248.0 | Dec 2024 92.4 | Mar 2025 71.8 | Jun 2025 — | Sep 2025 92.8 | Dec 2025 706.3 | Mar 2026 636.7 | Jun 2026 —
- SIGNATURE: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 -707.8 | Mar 2024 1,180.1 | Jun 2024 1,272.2 | Sep 2024 738.7 | Dec 2024 351.0 | Mar 2025 189.2 | Jun 2025 172.5 | Sep 2025 115.2 | Dec 2025 205.5 | Mar 2026 3,096.9 | Jun 2026 —
- GANESHHOU: Sep 2021 -57.0 | Dec 2021 24.1 | Mar 2022 30.0 | Jun 2022 21.9 | Sep 2022 29.2 | Dec 2022 29.8 | Mar 2023 28.4 | Jun 2023 31.1 | Sep 2023 15.1 | Dec 2023 11.0 | Mar 2024 15.7 | Jun 2024 17.2 | Sep 2024 16.5 | Dec 2024 20.0 | Mar 2025 16.2 | Jun 2025 13.7 | Sep 2025 12.2 | Dec 2025 12.7 | Mar 2026 10.9 | Jun 2026 19.9
- DBREALTY: Sep 2021 — | Dec 2021 — | Mar 2022 100.7 | Jun 2022 10.8 | Sep 2022 3.5 | Dec 2022 83.8 | Mar 2023 61.8 | Jun 2023 — | Sep 2023 42.7 | Dec 2023 7.3 | Mar 2024 7.3 | Jun 2024 6.5 | Sep 2024 6.7 | Dec 2024 20.6 | Mar 2025 18.0 | Jun 2025 -127.0 | Sep 2025 353.1 | Dec 2025 77.7 | Mar 2026 90.9 | Jun 2026 —
- PURVA: Sep 2021 17.9 | Dec 2021 17.4 | Mar 2022 14.2 | Jun 2022 13.2 | Sep 2022 80.8 | Dec 2022 81.2 | Mar 2023 78.7 | Jun 2023 33.0 | Sep 2023 219.0 | Dec 2023 219.9 | Mar 2024 66.0 | Jun 2024 278.3 | Sep 2024 127.9 | Dec 2024 130.6 | Mar 2025 96.9 | Jun 2025 — | Sep 2025 — | Dec 2025 — | Mar 2026 — | Jun 2026 —
- RUSTOMJEE: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 35.4 | Mar 2023 33.2 | Jun 2023 80.2 | Sep 2023 51.9 | Dec 2023 54.7 | Mar 2024 43.5 | Jun 2024 68.4 | Sep 2024 95.0 | Dec 2024 52.5 | Mar 2025 47.5 | Jun 2025 43.5 | Sep 2025 46.9 | Dec 2025 64.4 | Mar 2026 52.3 | Jun 2026 —
- SUNTECK: Sep 2021 137.8 | Dec 2021 128.7 | Mar 2022 140.4 | Jun 2022 282.7 | Sep 2022 130.6 | Dec 2022 141.6 | Mar 2023 166.5 | Jun 2023 172.9 | Sep 2023 — | Dec 2023 — | Mar 2024 77.1 | Jun 2024 115.5 | Sep 2024 84.7 | Dec 2024 50.0 | Mar 2025 28.2 | Jun 2025 43.2 | Sep 2025 37.3 | Dec 2025 33.8 | Mar 2026 21.9 | Jun 2026 22.9
- RAYMOND: Sep 2021 — | Dec 2021 46.1 | Mar 2022 10.9 | Jun 2022 3.4 | Sep 2022 2.4 | Dec 2022 2.9 | Mar 2023 2.4 | Jun 2023 4.0 | Sep 2023 4.4 | Dec 2023 5.1 | Mar 2024 6.0 | Jun 2024 2.6 | Sep 2024 28.0 | Dec 2024 43.7 | Mar 2025 59.2 | Jun 2025 78.2 | Sep 2025 79.1 | Dec 2025 15.1 | Mar 2026 12.0 | Jun 2026 —
- AGIIL: Sep 2021 9.7 | Dec 2021 8.1 | Mar 2022 9.9 | Jun 2022 12.8 | Sep 2022 14.8 | Dec 2022 14.2 | Mar 2023 12.6 | Jun 2023 14.3 | Sep 2023 14.2 | Dec 2023 19.3 | Mar 2024 19.7 | Jun 2024 20.1 | Sep 2024 22.7 | Dec 2024 39.5 | Mar 2025 34.7 | Jun 2025 40.2 | Sep 2025 46.0 | Dec 2025 46.3 | Mar 2026 54.0 | Jun 2026 —
- ASHIANA: Sep 2021 — | Dec 2021 — | Mar 2022 -198.8 | Jun 2022 134.0 | Sep 2022 161.4 | Dec 2022 99.8 | Mar 2023 72.6 | Jun 2023 69.7 | Sep 2023 74.5 | Dec 2023 47.6 | Mar 2024 36.2 | Jun 2024 50.7 | Sep 2024 49.4 | Dec 2024 109.1 | Mar 2025 156.0 | Jun 2025 160.4 | Sep 2025 74.3 | Dec 2025 39.4 | Mar 2026 24.8 | Jun 2026 —
- KOLTEPATIL: Sep 2021 49.4 | Dec 2021 25.4 | Mar 2022 29.1 | Jun 2022 21.4 | Sep 2022 37.4 | Dec 2022 48.9 | Mar 2023 160.8 | Jun 2023 24.7 | Sep 2023 27.7 | Dec 2023 33.1 | Mar 2024 46.8 | Jun 2024 53.0 | Sep 2024 -40.4 | Dec 2024 191.8 | Mar 2025 174.1 | Jun 2025 32.7 | Sep 2025 37.7 | Dec 2025 44.5 | Mar 2026 53.0 | Jun 2026 —
- ARVSMART: Sep 2021 34.3 | Dec 2021 45.6 | Mar 2022 42.2 | Jun 2022 26.6 | Sep 2022 34.5 | Dec 2022 43.2 | Mar 2023 40.2 | Jun 2023 59.4 | Sep 2023 59.2 | Dec 2023 64.4 | Mar 2024 89.3 | Jun 2024 76.6 | Sep 2024 103.8 | Dec 2024 58.5 | Mar 2025 30.1 | Jun 2025 27.4 | Sep 2025 24.0 | Dec 2025 29.7 | Mar 2026 32.3 | Jun 2026 —
- HUBTOWN: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 -4.3 | Dec 2022 -5.5 | Mar 2023 7.7 | Jun 2023 10.7 | Sep 2023 10.6 | Dec 2023 36.2 | Mar 2024 124.1 | Jun 2024 144.1 | Sep 2024 -64.9 | Dec 2024 -75.1 | Mar 2025 55.7 | Jun 2025 67.1 | Sep 2025 32.3 | Dec 2025 25.1 | Mar 2026 19.4 | Jun 2026 —
- AJMERA: Sep 2021 31.4 | Dec 2021 22.3 | Mar 2022 24.6 | Jun 2022 16.4 | Sep 2022 18.2 | Dec 2022 14.9 | Mar 2023 13.1 | Jun 2023 17.5 | Sep 2023 15.6 | Dec 2023 21.2 | Mar 2024 27.0 | Jun 2024 21.9 | Sep 2024 21.3 | Dec 2024 29.4 | Mar 2025 25.5 | Jun 2025 27.6 | Sep 2025 28.9 | Dec 2025 29.7 | Mar 2026 17.1 | Jun 2026 —
- CAPACITE: Sep 2021 23.9 | Dec 2021 18.7 | Mar 2022 13.1 | Jun 2022 15.6 | Sep 2022 15.4 | Dec 2022 14.0 | Mar 2023 9.5 | Jun 2023 14.8 | Sep 2023 16.4 | Dec 2023 20.8 | Mar 2024 20.9 | Jun 2024 20.1 | Sep 2024 21.0 | Dec 2024 20.5 | Mar 2025 14.7 | Jun 2025 14.1 | Sep 2025 12.6 | Dec 2025 10.9 | Mar 2026 9.1 | Jun 2026 —
- SHRIRAMPPS: Sep 2021 — | Dec 2021 -25.0 | Mar 2022 134.8 | Jun 2022 17.5 | Sep 2022 21.0 | Dec 2022 12.0 | Mar 2023 8.9 | Jun 2023 16.7 | Sep 2023 20.5 | Dec 2023 28.0 | Mar 2024 27.2 | Jun 2024 24.6 | Sep 2024 29.6 | Dec 2024 31.9 | Mar 2025 24.9 | Jun 2025 21.9 | Sep 2025 18.7 | Dec 2025 16.0 | Mar 2026 16.1 | Jun 2026 —
- LGHL: Sep 2021 -95.6 | Dec 2021 -295.1 | Mar 2022 235.4 | Jun 2022 273.5 | Sep 2022 434.2 | Dec 2022 70.8 | Mar 2023 52.3 | Jun 2023 20.0 | Sep 2023 28.1 | Dec 2023 25.9 | Mar 2024 — | Jun 2024 75.4 | Sep 2024 70.2 | Dec 2024 119.2 | Mar 2025 118.1 | Jun 2025 140.4 | Sep 2025 182.5 | Dec 2025 136.8 | Mar 2026 112.5 | Jun 2026 —
- ARIHANT: Sep 2021 — | Dec 2021 — | Mar 2022 -27.9 | Jun 2022 16.3 | Sep 2022 20.8 | Dec 2022 3.1 | Mar 2023 2.8 | Jun 2023 7.7 | Sep 2023 4.2 | Dec 2023 9.9 | Mar 2024 7.7 | Jun 2024 12.9 | Sep 2024 20.7 | Dec 2024 24.2 | Mar 2025 20.5 | Jun 2025 29.6 | Sep 2025 19.9 | Dec 2025 20.2 | Mar 2026 14.2 | Jun 2026 —
- SURAJEST: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 34.1 | Mar 2024 26.9 | Jun 2024 28.4 | Sep 2024 39.5 | Dec 2024 27.4 | Mar 2025 13.5 | Jun 2025 16.8 | Sep 2025 14.4 | Dec 2025 12.5 | Mar 2026 8.7 | Jun 2026 —
- ELDEHSG: Sep 2021 11.9 | Dec 2021 16.5 | Mar 2022 14.8 | Jun 2022 10.9 | Sep 2022 10.4 | Dec 2022 12.0 | Mar 2023 12.8 | Jun 2023 18.3 | Sep 2023 16.9 | Dec 2023 18.1 | Mar 2024 21.1 | Jun 2024 29.5 | Sep 2024 26.5 | Dec 2024 27.4 | Mar 2025 22.9 | Jun 2025 36.6 | Sep 2025 47.2 | Dec 2025 63.2 | Mar 2026 36.9 | Jun 2026 —
- PVP: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 0.6 | Sep 2022 2.4 | Dec 2022 2.5 | Mar 2023 1.6 | Jun 2023 2.8 | Sep 2023 2.7 | Dec 2023 -2.3 | Mar 2024 14.7 | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 -135.3 | Sep 2025 — | Dec 2025 — | Mar 2026 — | Jun 2026 —
- GEECEE: Sep 2021 28.9 | Dec 2021 23.6 | Mar 2022 15.6 | Jun 2022 13.3 | Sep 2022 13.8 | Dec 2022 9.5 | Mar 2023 11.2 | Jun 2023 32.0 | Sep 2023 37.5 | Dec 2023 35.6 | Mar 2024 65.0 | Jun 2024 21.4 | Sep 2024 20.8 | Dec 2024 17.9 | Mar 2025 12.6 | Jun 2025 17.4 | Sep 2025 19.3 | Dec 2025 18.3 | Mar 2026 21.4 | Jun 2026 —
- PENINLAND: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 10.8 | Sep 2022 6.2 | Dec 2022 4.7 | Mar 2023 4.0 | Jun 2023 8.4 | Sep 2023 10.0 | Dec 2023 20.2 | Mar 2024 14.9 | Jun 2024 23.4 | Sep 2024 25.5 | Dec 2024 22.8 | Mar 2025 40.6 | Jun 2025 53.0 | Sep 2025 — | Dec 2025 — | Mar 2026 — | Jun 2026 —
- SBGLP: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 21.8 | Dec 2023 31.9 | Mar 2024 71.4 | Jun 2024 78.3 | Sep 2024 73.9 | Dec 2024 138.6 | Mar 2025 59.4 | Jun 2025 70.8 | Sep 2025 50.9 | Dec 2025 32.2 | Mar 2026 — | Jun 2026 —

## Enterprise Value & Book Value

What the numbers say: Capacite Infraprojects Ltd leads ev/ebitda at 4.7×; Geecee Ventures Ltd leads p/bv at 0.84×.

Investor read: Treat valuation as permission to investigate, never as a standalone reason to buy.

This conclusion weakens if: The next two comparable reports reverse the current p/bv signal.

Evidence: Capacite Infraprojects Ltd · 4.7× | 30.9% versus #2 · Suraj Estate Developers Ltd | 0/8 recent comparable periods | 24/26 companies · 382 observations

Definition: EV/EBITDA includes debt in enterprise value and is useful across different capital structures. P/BV prices the company against its own book. Both are market multiples on reported figures, not intrinsic-value estimates and not forecasts.

### EV/EBITDA — lowest EV/EBITDA
1. Capacite Infraprojects Ltd (CAPACITE): 4.7
2. Suraj Estate Developers Ltd (SURAJEST): 6.8
3. Geecee Ventures Ltd (GEECEE): 8.3
4. Raymond Ltd (RAYMOND): 8.9
5. Shriram Properties Ltd (SHRIRAMPPS): 9.7

### P/BV — lowest P/BV
1. Geecee Ventures Ltd (GEECEE): 0.8
2. Suraj Estate Developers Ltd (SURAJEST): 0.9
3. Capacite Infraprojects Ltd (CAPACITE): 0.9
4. Shriram Properties Ltd (SHRIRAMPPS): 1.0
5. Hubtown Ltd (HUBTOWN): 1.1

### 20-quarter EV/EBITDA history
- 543542: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 174.6 | Dec 2024 64.8 | Mar 2025 50.1 | Jun 2025 — | Sep 2025 65.4 | Dec 2025 358.3 | Mar 2026 329.7 | Jun 2026 —
- SIGNATURE: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 209.1 | Dec 2023 430.4 | Mar 2024 420.2 | Jun 2024 365.1 | Sep 2024 296.0 | Dec 2024 193.5 | Mar 2025 118.3 | Jun 2025 101.4 | Sep 2025 70.2 | Dec 2025 101.7 | Mar 2026 135.9 | Jun 2026 —
- GANESHHOU: Sep 2021 53.7 | Dec 2021 19.6 | Mar 2022 21.1 | Jun 2022 18.8 | Sep 2022 22.1 | Dec 2022 15.8 | Mar 2023 12.8 | Jun 2023 13.5 | Sep 2023 8.2 | Dec 2023 7.0 | Mar 2024 10.5 | Jun 2024 12.4 | Sep 2024 12.0 | Dec 2024 14.4 | Mar 2025 11.6 | Jun 2025 10.1 | Sep 2025 9.1 | Dec 2025 9.4 | Mar 2026 8.1 | Jun 2026 14.6
- DBREALTY: Sep 2021 85.9 | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 65.5 | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 38.0 | Mar 2024 7.9 | Jun 2024 8.3 | Sep 2024 7.4 | Dec 2024 26.9 | Mar 2025 — | Jun 2025 — | Sep 2025 — | Dec 2025 79.3 | Mar 2026 36.5 | Jun 2026 —
- PURVA: Sep 2021 8.2 | Dec 2021 7.7 | Mar 2022 6.9 | Jun 2022 7.3 | Sep 2022 11.9 | Dec 2022 13.3 | Mar 2023 10.0 | Jun 2023 10.4 | Sep 2023 15.5 | Dec 2023 16.8 | Mar 2024 14.9 | Jun 2024 27.0 | Sep 2024 19.9 | Dec 2024 18.8 | Mar 2025 19.3 | Jun 2025 24.6 | Sep 2025 31.6 | Dec 2025 33.5 | Mar 2026 15.5 | Jun 2026 —
- RUSTOMJEE: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 33.0 | Mar 2023 31.3 | Jun 2023 53.3 | Sep 2023 33.2 | Dec 2023 33.7 | Mar 2024 28.5 | Jun 2024 47.5 | Sep 2024 57.8 | Dec 2024 31.5 | Mar 2025 23.7 | Jun 2025 25.5 | Sep 2025 26.1 | Dec 2025 29.7 | Mar 2026 23.8 | Jun 2026 —
- SUNTECK: Sep 2021 50.9 | Dec 2021 48.9 | Mar 2022 48.0 | Jun 2022 65.3 | Sep 2022 45.3 | Dec 2022 42.2 | Mar 2023 40.9 | Jun 2023 48.4 | Sep 2023 127.1 | Dec 2023 217.0 | Mar 2024 224.1 | Jun 2024 50.4 | Sep 2024 42.5 | Dec 2024 29.5 | Mar 2025 18.6 | Jun 2025 28.5 | Sep 2025 24.3 | Dec 2025 21.8 | Mar 2026 14.4 | Jun 2026 15.3
- RAYMOND: Sep 2021 7.8 | Dec 2021 5.1 | Mar 2022 4.4 | Jun 2022 3.8 | Sep 2022 3.3 | Dec 2022 3.4 | Mar 2023 2.9 | Jun 2023 3.5 | Sep 2023 4.0 | Dec 2023 6.1 | Mar 2024 8.5 | Jun 2024 16.3 | Sep 2024 24.0 | Dec 2024 14.9 | Mar 2025 14.7 | Jun 2025 26.9 | Sep 2025 15.2 | Dec 2025 11.3 | Mar 2026 8.9 | Jun 2026 —
- AGIIL: Sep 2021 6.5 | Dec 2021 5.3 | Mar 2022 6.8 | Jun 2022 9.5 | Sep 2022 10.7 | Dec 2022 10.2 | Mar 2023 9.1 | Jun 2023 10.9 | Sep 2023 10.6 | Dec 2023 13.9 | Mar 2024 14.2 | Jun 2024 12.4 | Sep 2024 13.9 | Dec 2024 23.5 | Mar 2025 20.1 | Jun 2025 23.2 | Sep 2025 30.0 | Dec 2025 30.3 | Mar 2026 36.0 | Jun 2026 —
- ASHIANA: Sep 2021 155.7 | Dec 2021 179.7 | Mar 2022 — | Jun 2022 392.1 | Sep 2022 73.3 | Dec 2022 56.7 | Mar 2023 42.5 | Jun 2023 41.8 | Sep 2023 44.9 | Dec 2023 32.2 | Mar 2024 25.8 | Jun 2024 35.6 | Sep 2024 32.2 | Dec 2024 60.0 | Mar 2025 64.9 | Jun 2025 74.2 | Sep 2025 40.7 | Dec 2025 25.0 | Mar 2026 16.5 | Jun 2026 —
- KOLTEPATIL: Sep 2021 19.6 | Dec 2021 12.2 | Mar 2022 12.3 | Jun 2022 10.7 | Sep 2022 15.8 | Dec 2022 17.9 | Mar 2023 26.0 | Jun 2023 12.9 | Sep 2023 14.2 | Dec 2023 16.8 | Mar 2024 16.9 | Jun 2024 85.1 | Sep 2024 90.5 | Dec 2024 59.9 | Mar 2025 33.3 | Jun 2025 21.0 | Sep 2025 25.4 | Dec 2025 29.5 | Mar 2026 29.1 | Jun 2026 —
- ARVSMART: Sep 2021 14.2 | Dec 2021 20.6 | Mar 2022 19.4 | Jun 2022 15.2 | Sep 2022 19.1 | Dec 2022 24.8 | Mar 2023 19.9 | Jun 2023 25.5 | Sep 2023 22.9 | Dec 2023 19.9 | Mar 2024 29.1 | Jun 2024 27.1 | Sep 2024 36.9 | Dec 2024 29.5 | Mar 2025 18.1 | Jun 2025 16.2 | Sep 2025 15.1 | Dec 2025 17.0 | Mar 2026 16.6 | Jun 2026 —
- HUBTOWN: Sep 2021 — | Dec 2021 12.5 | Mar 2022 22.7 | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 28.1 | Jun 2023 11.5 | Sep 2023 12.7 | Dec 2023 13.4 | Mar 2024 20.4 | Jun 2024 23.7 | Sep 2024 — | Dec 2024 53.2 | Mar 2025 25.2 | Jun 2025 18.8 | Sep 2025 15.7 | Dec 2025 14.7 | Mar 2026 12.6 | Jun 2026 —
- AJMERA: Sep 2021 16.0 | Dec 2021 13.6 | Mar 2022 16.3 | Jun 2022 12.0 | Sep 2022 15.8 | Dec 2022 13.4 | Mar 2023 12.4 | Jun 2023 15.6 | Sep 2023 13.4 | Dec 2023 16.5 | Mar 2024 18.3 | Jun 2024 14.6 | Sep 2024 13.3 | Dec 2024 18.4 | Mar 2025 16.0 | Jun 2025 17.7 | Sep 2025 17.4 | Dec 2025 17.2 | Mar 2026 10.8 | Jun 2026 —
- CAPACITE: Sep 2021 5.8 | Dec 2021 5.3 | Mar 2022 3.7 | Jun 2022 3.8 | Sep 2022 4.7 | Dec 2022 4.3 | Mar 2023 2.9 | Jun 2023 4.3 | Sep 2023 5.1 | Dec 2023 6.5 | Mar 2024 7.3 | Jun 2024 7.8 | Sep 2024 8.6 | Dec 2024 9.1 | Mar 2025 7.0 | Jun 2025 6.6 | Sep 2025 6.2 | Dec 2025 5.5 | Mar 2026 4.7 | Jun 2026 —
- SHRIRAMPPS: Sep 2021 — | Dec 2021 24.2 | Mar 2022 23.1 | Jun 2022 19.6 | Sep 2022 8.4 | Dec 2022 7.2 | Mar 2023 6.2 | Jun 2023 8.1 | Sep 2023 10.2 | Dec 2023 12.7 | Mar 2024 12.2 | Jun 2024 11.8 | Sep 2024 13.6 | Dec 2024 13.7 | Mar 2025 10.4 | Jun 2025 10.7 | Sep 2025 10.3 | Dec 2025 9.8 | Mar 2026 9.7 | Jun 2026 —
- LGHL: Sep 2021 34.8 | Dec 2021 27.0 | Mar 2022 23.7 | Jun 2022 31.9 | Sep 2022 40.0 | Dec 2022 37.7 | Mar 2023 23.8 | Jun 2023 16.0 | Sep 2023 34.0 | Dec 2023 32.4 | Mar 2024 36.4 | Jun 2024 44.1 | Sep 2024 41.3 | Dec 2024 68.0 | Mar 2025 67.4 | Jun 2025 69.7 | Sep 2025 89.3 | Dec 2025 68.1 | Mar 2026 56.8 | Jun 2026 —
- ARIHANT: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 41.8 | Sep 2022 20.8 | Dec 2022 10.4 | Mar 2023 9.6 | Jun 2023 11.8 | Sep 2023 5.8 | Dec 2023 5.9 | Mar 2024 6.0 | Jun 2024 8.5 | Sep 2024 11.9 | Dec 2024 16.0 | Mar 2025 13.2 | Jun 2025 18.8 | Sep 2025 12.8 | Dec 2025 15.5 | Mar 2026 11.8 | Jun 2026 —
- SURAJEST: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 13.3 | Mar 2024 11.2 | Jun 2024 11.8 | Sep 2024 15.1 | Dec 2024 12.9 | Mar 2025 8.0 | Jun 2025 10.1 | Sep 2025 9.2 | Dec 2025 8.6 | Mar 2026 6.8 | Jun 2026 —
- ELDEHSG: Sep 2021 6.7 | Dec 2021 9.8 | Mar 2022 8.5 | Jun 2022 5.9 | Sep 2022 5.5 | Dec 2022 6.2 | Mar 2023 6.5 | Jun 2023 10.4 | Sep 2023 9.4 | Dec 2023 11.4 | Mar 2024 13.3 | Jun 2024 17.3 | Sep 2024 17.6 | Dec 2024 17.4 | Mar 2025 14.2 | Jun 2025 21.5 | Sep 2025 26.5 | Dec 2025 32.7 | Mar 2026 20.9 | Jun 2026 —
- PVP: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 60.0 | Sep 2022 2.4 | Dec 2022 2.7 | Mar 2023 3.8 | Jun 2023 4.7 | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 — | Dec 2024 — | Mar 2025 — | Jun 2025 166.2 | Sep 2025 60.4 | Dec 2025 53.1 | Mar 2026 26.8 | Jun 2026 —
- GEECEE: Sep 2021 9.1 | Dec 2021 14.0 | Mar 2022 10.3 | Jun 2022 9.3 | Sep 2022 9.3 | Dec 2022 6.6 | Mar 2023 8.2 | Jun 2023 22.6 | Sep 2023 24.3 | Dec 2023 21.7 | Mar 2024 51.3 | Jun 2024 16.7 | Sep 2024 15.3 | Dec 2024 11.6 | Mar 2025 7.5 | Jun 2025 12.0 | Sep 2025 9.3 | Dec 2025 4.0 | Mar 2026 — | Jun 2026 —
- PENINLAND: Sep 2021 — | Dec 2021 224.8 | Mar 2022 24.8 | Jun 2022 11.8 | Sep 2022 6.8 | Dec 2022 6.3 | Mar 2023 7.5 | Jun 2023 10.0 | Sep 2023 9.0 | Dec 2023 15.3 | Mar 2024 12.7 | Jun 2024 19.1 | Sep 2024 19.9 | Dec 2024 17.5 | Mar 2025 17.9 | Jun 2025 36.9 | Sep 2025 35.1 | Dec 2025 39.5 | Mar 2026 30.1 | Jun 2026 —
- SBGLP: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 18.2 | Dec 2023 26.4 | Mar 2024 52.2 | Jun 2024 56.3 | Sep 2024 49.9 | Dec 2024 87.6 | Mar 2025 35.4 | Jun 2025 51.6 | Sep 2025 37.0 | Dec 2025 25.3 | Mar 2026 — | Jun 2026 —

### 20-quarter P/BV history
- 543542: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 — | Mar 2024 — | Jun 2024 — | Sep 2024 89.7 | Dec 2024 41.4 | Mar 2025 32.1 | Jun 2025 — | Sep 2025 35.2 | Dec 2025 23.3 | Mar 2026 21.0 | Jun 2026 —
- SIGNATURE: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 11.4 | Dec 2023 20.9 | Mar 2024 32.5 | Jun 2024 31.1 | Sep 2024 35.6 | Dec 2024 29.9 | Mar 2025 24.1 | Jun 2025 27.9 | Sep 2025 20.4 | Dec 2025 22.0 | Mar 2026 14.4 | Jun 2026 —
- GANESHHOU: Sep 2021 1.6 | Dec 2021 1.4 | Mar 2022 1.7 | Jun 2022 2.4 | Sep 2022 2.9 | Dec 2022 2.8 | Mar 2023 2.8 | Jun 2023 3.9 | Sep 2023 4.2 | Dec 2023 2.6 | Mar 2024 4.6 | Jun 2024 8.9 | Sep 2024 5.1 | Dec 2024 5.6 | Mar 2025 5.1 | Jun 2025 6.2 | Sep 2025 3.8 | Dec 2025 3.0 | Mar 2026 2.1 | Jun 2026 2.7
- DBREALTY: Sep 2021 0.4 | Dec 2021 1.1 | Mar 2022 2.2 | Jun 2022 0.9 | Sep 2022 0.9 | Dec 2022 1.0 | Mar 2023 0.7 | Jun 2023 0.8 | Sep 2023 2.3 | Dec 2023 2.2 | Mar 2024 2.3 | Jun 2024 2.5 | Sep 2024 1.8 | Dec 2024 1.7 | Mar 2025 1.4 | Jun 2025 2.1 | Sep 2025 1.8 | Dec 2025 1.6 | Mar 2026 1.2 | Jun 2026 —
- PURVA: Sep 2021 1.6 | Dec 2021 1.6 | Mar 2022 1.2 | Jun 2022 1.0 | Sep 2022 1.2 | Dec 2022 1.1 | Mar 2023 0.8 | Jun 2023 1.1 | Sep 2023 1.6 | Dec 2023 2.3 | Mar 2024 2.5 | Jun 2024 5.9 | Sep 2024 5.1 | Dec 2024 4.8 | Mar 2025 3.1 | Jun 2025 3.6 | Sep 2025 3.6 | Dec 2025 3.6 | Mar 2026 2.5 | Jun 2026 —
- RUSTOMJEE: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 3.9 | Sep 2023 3.8 | Dec 2023 4.2 | Mar 2024 4.0 | Jun 2024 4.6 | Sep 2024 4.7 | Dec 2024 3.1 | Mar 2025 2.5 | Jun 2025 3.7 | Sep 2025 2.7 | Dec 2025 2.4 | Mar 2026 1.7 | Jun 2026 —
- SUNTECK: Sep 2021 2.6 | Dec 2021 2.6 | Mar 2022 2.2 | Jun 2022 2.5 | Sep 2022 2.2 | Dec 2022 1.7 | Mar 2023 1.5 | Jun 2023 1.5 | Sep 2023 2.4 | Dec 2023 2.4 | Mar 2024 2.1 | Jun 2024 2.9 | Sep 2024 2.7 | Dec 2024 2.4 | Mar 2025 1.8 | Jun 2025 2.1 | Sep 2025 1.8 | Dec 2025 1.8 | Mar 2026 1.3 | Jun 2026 1.3
- RAYMOND: Sep 2021 0.3 | Dec 2021 0.5 | Mar 2022 0.5 | Jun 2022 0.5 | Sep 2022 0.6 | Dec 2022 0.8 | Mar 2023 0.7 | Jun 2023 0.8 | Sep 2023 0.9 | Dec 2023 0.6 | Mar 2024 0.6 | Jun 2024 0.9 | Sep 2024 0.9 | Dec 2024 1.1 | Mar 2025 0.9 | Jun 2025 0.9 | Sep 2025 1.1 | Dec 2025 0.9 | Mar 2026 0.7 | Jun 2026 —
- AGIIL: Sep 2021 2.3 | Dec 2021 2.0 | Mar 2022 2.7 | Jun 2022 5.1 | Sep 2022 4.1 | Dec 2022 4.1 | Mar 2023 4.6 | Jun 2023 5.5 | Sep 2023 4.2 | Dec 2023 5.2 | Mar 2024 5.5 | Jun 2024 6.1 | Sep 2024 5.4 | Dec 2024 8.6 | Mar 2025 8.1 | Jun 2025 10.8 | Sep 2025 10.4 | Dec 2025 9.2 | Mar 2026 10.7 | Jun 2026 —
- ASHIANA: Sep 2021 2.7 | Dec 2021 2.4 | Mar 2022 1.9 | Jun 2022 1.7 | Sep 2022 2.2 | Dec 2022 1.9 | Mar 2023 2.4 | Jun 2023 2.5 | Sep 2023 2.8 | Dec 2023 3.7 | Mar 2024 3.7 | Jun 2024 5.7 | Sep 2024 4.3 | Dec 2024 4.6 | Mar 2025 3.9 | Jun 2025 4.6 | Sep 2025 3.8 | Dec 2025 3.8 | Mar 2026 3.7 | Jun 2026 —
- HEMIPROP: Sep 2021 10.8 | Dec 2021 10.3 | Mar 2022 9.5 | Jun 2022 7.9 | Sep 2022 7.3 | Dec 2022 8.3 | Mar 2023 6.3 | Jun 2023 8.1 | Sep 2023 9.1 | Dec 2023 12.1 | Mar 2024 15.7 | Jun 2024 14.7 | Sep 2024 16.6 | Dec 2024 14.2 | Mar 2025 10.0 | Jun 2025 11.1 | Sep 2025 12.0 | Dec 2025 9.1 | Mar 2026 7.6 | Jun 2026 —
- KOLTEPATIL: Sep 2021 2.8 | Dec 2021 2.4 | Mar 2022 2.3 | Jun 2022 1.9 | Sep 2022 2.7 | Dec 2022 2.2 | Mar 2023 2.0 | Jun 2023 2.7 | Sep 2023 4.1 | Dec 2023 3.6 | Mar 2024 3.4 | Jun 2024 3.8 | Sep 2024 4.0 | Dec 2024 3.8 | Mar 2025 3.4 | Jun 2025 4.6 | Sep 2025 3.9 | Dec 2025 2.9 | Mar 2026 2.3 | Jun 2026 —
- ARVSMART: Sep 2021 1.8 | Dec 2021 2.3 | Mar 2022 2.5 | Jun 2022 1.8 | Sep 2022 2.2 | Dec 2022 3.1 | Mar 2023 2.7 | Jun 2023 3.3 | Sep 2023 3.4 | Dec 2023 4.2 | Mar 2024 6.8 | Jun 2024 6.8 | Sep 2024 7.7 | Dec 2024 7.6 | Mar 2025 6.1 | Jun 2025 6.1 | Sep 2025 4.8 | Dec 2025 4.6 | Mar 2026 4.0 | Jun 2026 —
- HUBTOWN: Sep 2021 0.1 | Dec 2021 0.3 | Mar 2022 0.2 | Jun 2022 0.3 | Sep 2022 0.3 | Dec 2022 0.3 | Mar 2023 0.2 | Jun 2023 0.2 | Sep 2023 0.4 | Dec 2023 0.5 | Mar 2024 0.8 | Jun 2024 1.0 | Sep 2024 2.1 | Dec 2024 1.5 | Mar 2025 1.1 | Jun 2025 1.6 | Sep 2025 1.6 | Dec 2025 1.3 | Mar 2026 1.0 | Jun 2026 —
- AJMERA: Sep 2021 1.8 | Dec 2021 1.4 | Mar 2022 1.6 | Jun 2022 1.1 | Sep 2022 1.1 | Dec 2022 1.4 | Mar 2023 1.3 | Jun 2023 1.8 | Sep 2023 1.6 | Dec 2023 1.8 | Mar 2024 3.0 | Jun 2024 2.9 | Sep 2024 2.8 | Dec 2024 4.1 | Mar 2025 3.9 | Jun 2025 3.8 | Sep 2025 3.3 | Dec 2025 3.0 | Mar 2026 1.6 | Jun 2026 —
- CAPACITE: Sep 2021 1.3 | Dec 2021 1.2 | Mar 2022 0.8 | Jun 2022 0.8 | Sep 2022 1.1 | Dec 2022 1.0 | Mar 2023 0.8 | Jun 2023 1.4 | Sep 2023 1.3 | Dec 2023 1.5 | Mar 2024 1.7 | Jun 2024 1.9 | Sep 2024 2.2 | Dec 2024 2.3 | Mar 2025 1.8 | Jun 2025 1.9 | Sep 2025 1.4 | Dec 2025 1.2 | Mar 2026 1.0 | Jun 2026 —
- OMAXE: Sep 2021 1.0 | Dec 2021 1.1 | Mar 2022 1.2 | Jun 2022 1.1 | Sep 2022 1.6 | Dec 2022 1.2 | Mar 2023 0.7 | Jun 2023 0.8 | Sep 2023 1.5 | Dec 2023 1.9 | Mar 2024 2.3 | Jun 2024 2.3 | Sep 2024 4.3 | Dec 2024 19.9 | Mar 2025 -7.3 | Jun 2025 3.9 | Sep 2025 3.3 | Dec 2025 -2.9 | Mar 2026 -2.2 | Jun 2026 —
- SHRIRAMPPS: Sep 2021 — | Dec 2021 — | Mar 2022 1.8 | Jun 2022 1.0 | Sep 2022 1.1 | Dec 2022 1.1 | Mar 2023 0.9 | Jun 2023 1.0 | Sep 2023 1.3 | Dec 2023 1.7 | Mar 2024 1.5 | Jun 2024 1.6 | Sep 2024 1.8 | Dec 2024 1.4 | Mar 2025 0.9 | Jun 2025 1.3 | Sep 2025 1.1 | Dec 2025 1.0 | Mar 2026 0.8 | Jun 2026 —
- LGHL: Sep 2021 1.0 | Dec 2021 1.0 | Mar 2022 0.9 | Jun 2022 1.1 | Sep 2022 1.6 | Dec 2022 — | Mar 2023 1.7 | Jun 2023 — | Sep 2023 6.2 | Dec 2023 — | Mar 2024 13.3 | Jun 2024 15.8 | Sep 2024 14.7 | Dec 2024 25.0 | Mar 2025 24.7 | Jun 2025 22.7 | Sep 2025 29.5 | Dec 2025 22.2 | Mar 2026 18.3 | Jun 2026 —
- ARIHANT: Sep 2021 0.2 | Dec 2021 0.4 | Mar 2022 0.3 | Jun 2022 0.2 | Sep 2022 0.2 | Dec 2022 0.2 | Mar 2023 0.3 | Jun 2023 0.6 | Sep 2023 0.2 | Dec 2023 0.3 | Mar 2024 0.6 | Jun 2024 1.0 | Sep 2024 2.2 | Dec 2024 3.5 | Mar 2025 3.5 | Jun 2025 3.6 | Sep 2025 3.3 | Dec 2025 3.5 | Mar 2026 2.8 | Jun 2026 —
- SURAJEST: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 — | Sep 2022 — | Dec 2022 — | Mar 2023 — | Jun 2023 — | Sep 2023 — | Dec 2023 13.8 | Mar 2024 2.2 | Jun 2024 4.3 | Sep 2024 6.8 | Dec 2024 4.7 | Mar 2025 2.5 | Jun 2025 3.2 | Sep 2025 1.5 | Dec 2025 1.2 | Mar 2026 0.9 | Jun 2026 —
- ELDEHSG: Sep 2021 2.3 | Dec 2021 3.1 | Mar 2022 2.7 | Jun 2022 2.1 | Sep 2022 1.8 | Dec 2022 1.8 | Mar 2023 1.8 | Jun 2023 2.6 | Sep 2023 2.0 | Dec 2023 2.0 | Mar 2024 2.2 | Jun 2024 2.9 | Sep 2024 2.5 | Dec 2024 2.3 | Mar 2025 1.8 | Jun 2025 2.1 | Sep 2025 2.0 | Dec 2025 2.4 | Mar 2026 2.1 | Jun 2026 —
- PVP: Sep 2021 10.5 | Dec 2021 17.0 | Mar 2022 10.8 | Jun 2022 11.5 | Sep 2022 1.0 | Dec 2022 1.1 | Mar 2023 -4.0 | Jun 2023 -5.4 | Sep 2023 1.8 | Dec 2023 2.5 | Mar 2024 4.3 | Jun 2024 3.5 | Sep 2024 3.5 | Dec 2024 3.4 | Mar 2025 2.5 | Jun 2025 2.6 | Sep 2025 3.6 | Dec 2025 4.4 | Mar 2026 2.8 | Jun 2026 —
- GEECEE: Sep 2021 0.8 | Dec 2021 0.6 | Mar 2022 0.6 | Jun 2022 0.5 | Sep 2022 0.5 | Dec 2022 0.6 | Mar 2023 0.5 | Jun 2023 0.7 | Sep 2023 0.8 | Dec 2023 0.8 | Mar 2024 0.9 | Jun 2024 1.4 | Sep 2024 1.4 | Dec 2024 1.2 | Mar 2025 1.1 | Jun 2025 1.3 | Sep 2025 1.0 | Dec 2025 0.8 | Mar 2026 0.6 | Jun 2026 —
- PENINLAND: Sep 2021 9.2 | Dec 2021 -7.9 | Mar 2022 -5.8 | Jun 2022 — | Sep 2022 -4.9 | Dec 2022 -5.1 | Mar 2023 -3.3 | Jun 2023 -6.4 | Sep 2023 52.5 | Dec 2023 16.4 | Mar 2024 16.1 | Jun 2024 — | Sep 2024 6.7 | Dec 2024 5.2 | Mar 2025 2.7 | Jun 2025 3.7 | Sep 2025 4.7 | Dec 2025 4.2 | Mar 2026 2.4 | Jun 2026 —
- SBGLP: Sep 2021 — | Dec 2021 — | Mar 2022 — | Jun 2022 -37.1 | Sep 2022 -35.5 | Dec 2022 -37.1 | Mar 2023 -32.0 | Jun 2023 -36.5 | Sep 2023 -65.7 | Dec 2023 29.4 | Mar 2024 42.7 | Jun 2024 195.8 | Sep 2024 31.2 | Dec 2024 36.8 | Mar 2025 9.6 | Jun 2025 13.6 | Sep 2025 10.8 | Dec 2025 8.0 | Mar 2026 — | Jun 2026 —

## Market action

Kesar India Ltd has the strongest one-year price move in Realty - Construction & Contracting at +86.4%. It also leads on Mansfield relative strength against NIFTY at +20.5%. 9 of 26 covered companies are above zero on that measure. Every line covers 313 weekly closes through 2026-07-17.

### Strongest one-year price performers
1. Kesar India Ltd (543542): 86%
2. AGI Infra Ltd (AGIIL): 58%
3. PVP Ventures Ltd (PVP): 40%
4. Ashiana Housing Ltd (ASHIANA): 14%
5. Eldeco Housing & Industries Ltd (ELDEHSG): 1.6%

### Strongest relative strength versus NIFTY 500
1. Kesar India Ltd (543542): 20%
2. Raymond Ltd (RAYMOND): 19%
3. Ashiana Housing Ltd (ASHIANA): 16%
4. Omaxe Ltd (OMAXE): 16%
5. AGI Infra Ltd (AGIIL): 14%

## What can make this comparison misleading?
- A high growth rate can be a low-base artefact. The page keeps level and change separate for that reason.
- A high ROCE can be temporary or flattered by a small capital base. Read it beside margin, cash conversion and reinvestment.
- The 4-Factor Sector Score ranks research priority, not portfolio action. Management quality, catalysts and risks need equally fresh evidence before capital is deployed.
- An “all companies” line chart preserves completeness, but rank changes should be checked against reporting dates before drawing a conclusion.
- 1 company has an older fundamental reporting date than the sector’s freshest reporters; its rank carries a stale marker.
- 9 companies draw at least one figure from a second data feed with too little overlapping history to cross-check against the primary source; they are marked unverified wherever those figures appear.
- 5 companies are missing from the second-feed metrics by decision, not by absence: the two sources disagree, so nothing from the second is drawn. Read those rows as narrower evidence, never as a weaker business.

## Every company
- SignatureGlobal India Ltd (SIGNATURE) — market value ₹10.8K Cr; latest fundamentals Mar 2026
- Ganesh Housing Ltd (GANESHHOU) — market value ₹6.7K Cr; latest fundamentals Jun 2026
- Valor Estate Ltd (DBREALTY) — market value ₹6.1K Cr; latest fundamentals Mar 2026
- Puravankara Ltd (PURVA) — market value ₹5.1K Cr; latest fundamentals Mar 2026; second-feed figures WITHHELD
- Keystone Realtors Ltd (RUSTOMJEE) — market value ₹5.0K Cr; latest fundamentals Mar 2026; second-feed figures WITHHELD
- Sunteck Realty Ltd (SUNTECK) — market value ₹4.5K Cr; latest fundamentals Jun 2026
- Raymond Ltd (RAYMOND) — market value ₹3.9K Cr; latest fundamentals Mar 2026; second-feed figures WITHHELD
- AGI Infra Ltd (AGIIL) — market value ₹3.9K Cr; latest fundamentals Mar 2026
- Ashiana Housing Ltd (ASHIANA) — market value ₹3.9K Cr; latest fundamentals Mar 2026
- Hemisphere Properties India Ltd (HEMIPROP) — market value ₹3.8K Cr; latest fundamentals Mar 2026
- Kesar India Ltd (543542) — market value ₹3.8K Cr; latest fundamentals Mar 2026
- Kolte Patil Developers Ltd (KOLTEPATIL) — market value ₹3.5K Cr; latest fundamentals Mar 2026
- Arvind SmartSpaces Ltd (ARVSMART) — market value ₹2.8K Cr; latest fundamentals Mar 2026; second-feed figures WITHHELD
- Hubtown Ltd (HUBTOWN) — market value ₹2.8K Cr; latest fundamentals Mar 2026
- Ajmera Realty & Infra India Ltd (AJMERA) — market value ₹2.4K Cr; latest fundamentals Mar 2026; second-feed figures WITHHELD
- Capacite Infraprojects Ltd (CAPACITE) — market value ₹1.8K Cr; latest fundamentals Mar 2026; includes UNVERIFIED second-feed figures
- Omaxe Ltd (OMAXE) — market value ₹1.6K Cr; latest fundamentals Mar 2026; includes UNVERIFIED second-feed figures
- Shriram Properties Ltd (SHRIRAMPPS) — market value ₹1.5K Cr; latest fundamentals Mar 2026; includes UNVERIFIED second-feed figures
- Laxmi Goldorna House Ltd (LGHL) — market value ₹1.0K Cr; latest fundamentals Mar 2026; includes UNVERIFIED second-feed figures
- Arihant Foundations & Housing Ltd (ARIHANT) — market value ₹1.0K Cr; latest fundamentals Mar 2026; includes UNVERIFIED second-feed figures
- Suraj Estate Developers Ltd (SURAJEST) — market value ₹925 Cr; latest fundamentals Mar 2026; includes UNVERIFIED second-feed figures
- Eldeco Housing & Industries Ltd (ELDEHSG) — market value ₹765 Cr; latest fundamentals Mar 2026; includes UNVERIFIED second-feed figures
- PVP Ventures Ltd (PVP) — market value ₹711 Cr; latest fundamentals Mar 2026; includes UNVERIFIED second-feed figures
- Geecee Ventures Ltd (GEECEE) — market value ₹699 Cr; latest fundamentals Mar 2026; includes UNVERIFIED second-feed figures
- Peninsula Land Ltd (PENINLAND) — market value ₹534 Cr; latest fundamentals Mar 2026
- Suratwwala Business Group Ltd (SBGLP) — market value ₹524 Cr; latest fundamentals Dec 2025

## Source standing of each company

Cross-checked: 9. Unverified: 12. Withheld: 5. Graded companies: 26.

9 of 26 companies draw at least one figure from a second data feed that could not be cross-checked against the primary source, because the two do not share enough reported history to compare. Those figures are marked unverified wherever they appear.

5 of 26 companies have a second data feed that is known to disagree with the primary source, so nothing from it is drawn: Puravankara Ltd (PURVA) — its two data sources disagree by up to 335% on reported income across 15 comparable periods, so its derived ratios are withheld; Keystone Realtors Ltd (RUSTOMJEE) — its two data sources disagree by up to 48% on reported income across 14 comparable periods, so its derived ratios are withheld; Raymond Ltd (RAYMOND) — its two data sources disagree by up to 379% on reported income across 13 comparable periods, so its derived ratios are withheld; Arvind SmartSpaces Ltd (ARVSMART) — its two data sources disagree by up to 32% on reported income across 14 comparable periods, so its derived ratios are withheld; Ajmera Realty & Infra India Ltd (AJMERA) — its two data sources disagree by up to 7% on reported income across 14 comparable periods, so its derived ratios are withheld.

- WITHHELD | PURVA | Puravankara Ltd | diff_gt_2pct | disagreement up to 334.51% over 15 comparable periods
- WITHHELD | RUSTOMJEE | Keystone Realtors Ltd | diff_gt_2pct | disagreement up to 48.1% over 14 comparable periods
- WITHHELD | RAYMOND | Raymond Ltd | diff_gt_2pct | disagreement up to 379.34% over 13 comparable periods
- WITHHELD | ARVSMART | Arvind SmartSpaces Ltd | diff_gt_2pct | disagreement up to 31.61% over 14 comparable periods
- WITHHELD | AJMERA | Ajmera Realty & Infra India Ltd | diff_gt_2pct | disagreement up to 7% over 14 comparable periods

- UNVERIFIED | CAPACITE | Capacite Infraprojects Ltd | too little overlapping reported history to cross-check the second feed
- UNVERIFIED | OMAXE | Omaxe Ltd | too little overlapping reported history to cross-check the second feed
- UNVERIFIED | SHRIRAMPPS | Shriram Properties Ltd | too little overlapping reported history to cross-check the second feed
- UNVERIFIED | LGHL | Laxmi Goldorna House Ltd | too little overlapping reported history to cross-check the second feed
- UNVERIFIED | ARIHANT | Arihant Foundations & Housing Ltd | too little overlapping reported history to cross-check the second feed
- UNVERIFIED | SURAJEST | Suraj Estate Developers Ltd | too little overlapping reported history to cross-check the second feed
- UNVERIFIED | ELDEHSG | Eldeco Housing & Industries Ltd | too little overlapping reported history to cross-check the second feed
- UNVERIFIED | PVP | PVP Ventures Ltd | too little overlapping reported history to cross-check the second feed
- UNVERIFIED | GEECEE | Geecee Ventures Ltd | too little overlapping reported history to cross-check the second feed

## Methodology and freshness

Fundamentals through Jun 2026; prices through 2026-07-24.
Up to 20 quarters per company. Reported history is normalized to Indian rupees crore. Missing values are not interpolated. Derived metrics are calculated only when their inputs are comparable.

## Frequently asked questions

### What is the Nifty Realty - Construction & Contracting index?

The Nifty Realty - Construction & Contracting index tracks India's listed Realty - Construction & Contracting companies as a single basket. This page follows the same 26 companies and equal-weights them, so every company's weekly return counts once whatever it is worth, and the reading belongs to the Realty - Construction & Contracting sector rather than to its largest constituent. Figures are as of Jun 2026.

### Which are the best Realty - Construction & Contracting stocks in India?

Ranked by this page's four-factor score, Ashiana Housing Ltd places first among 26 listed Realty - Construction & Contracting companies, followed by AGI Infra Ltd. That is a ranking of published data — earnings, quality, valuation and market behaviour as of Jun 2026 — and not a recommendation; Sector Alpha is not registered with SEBI as an investment adviser.

### How many Realty - Construction & Contracting stocks are listed in India?

This comparison covers 26 listed Realty - Construction & Contracting companies in India, each above the size floor the site applies, with 20 quarters of reported figures per company where the filings exist. The full ranked list is on this page, as of Jun 2026.

### Which Realty - Construction & Contracting company is the biggest?

Puravankara Ltd is the largest, with trailing-twelve-month revenue of ₹3,739 crore, ahead of Keystone Realtors Ltd at ₹2,634 crore. That covers 25 of 26 companies with comparable reporting through Mar 2026.

### Which Realty - Construction & Contracting company is growing fastest?

Arihant Foundations & Housing Ltd has the fastest revenue growth at 100% year on year, across 25 of 26 comparable companies. Fast growth off a small base is not the same as proven scale — check whether the rate holds across several quarters on the chart above before treating it as a trend.

### Which Realty - Construction & Contracting company has the best profit margins?

Geecee Ventures Ltd has the highest operating margin at 87%, from 26 of 26 comparable companies. Hemisphere Properties India Ltd shows the biggest recent improvement, at +408.3 percentage points. A high margin matters most when it is holding or rising, not when it is peaking.

### Which Realty - Construction & Contracting company makes the most profit?

Raymond Ltd earns the most, at ₹5,361 crore of trailing-twelve-month net profit, from 25 of 26 comparable companies. Ashiana Housing Ltd has the fastest profit growth at 100%, though growth off a small or recovering profit base overstates how much has actually changed.

### Which Realty - Construction & Contracting company earns the highest return on capital?

Kesar India Ltd leads on return on capital employed at 23.4%, across 26 of 26 companies. Read it beside the length of its reported history: a high return that repeats for years is evidence of a durable business, while a single high reading can be a small capital base or one good year.

### Which Realty - Construction & Contracting stock is the cheapest?

On guarded PEG — where a LOWER number is cheaper — Ganesh Housing Ltd screens cheapest at 0.31×. Only 6 of 26 companies pass the comparability guard, so this is not a sector-wide "cheapest stock" verdict. Cheap on a multiple is a reason to investigate, never a reason to buy on its own.

### Which Realty - Construction & Contracting company has the strongest balance sheet?

Geecee Ventures Ltd carries the lowest comparable gross debt at ₹0 crore, from 26 of 26 companies. Absolute rupee debt alone does not settle it, because company scale differs — net debt and debt-to-equity in the chart above carry more information, and a very low-debt balance sheet can also mean under-investment.

### Which Realty - Construction & Contracting stock has the strongest price momentum?

Kesar India Ltd has the strongest relative strength against NIFTY 500. Relative strength answers last, after growth, quality and valuation: price can move well before the fundamentals confirm it, and sometimes without them confirming at all.

### Which Realty - Construction & Contracting company scores highest for research priority?

Ashiana Housing Ltd scores 64.8 out of 100 with 95.6% evidence confidence, from 26.4 points on growth and earnings, 14.4 on capital efficiency, 5.5 on valuation and 18.5 on relative strength. This ranks what deserves work next. It is not a buy recommendation, and management quality, catalysts and risk still need separate research.

### How many Realty - Construction & Contracting companies does this comparison cover, and over what period?

It compares 26 listed companies over up to 20 reported quarters of fundamentals and 10 fiscal years of capital allocation, ending Jun 2026, plus weekly price and relative-strength history. Membership is the full sector list — nothing is dropped for having thin data.

### What is the total market cap of the Realty - Construction & Contracting sector?

The 26 Realty - Construction & Contracting companies on this page carry ₹79,954 crore of combined market value. SignatureGlobal India Ltd is the largest at ₹10,810 crore, about 14% of the sector's total on its own. Market value moves with price, so this reading is dated 2026-07-29.

### What is the Realty - Construction & Contracting sector's P/E ratio?

The median price-to-earnings ratio across the 26 Realty - Construction & Contracting companies on this page is 25.1×, measured on the 21 that report a comparable figure. A sector-level history for this multiple is not held here, so this is a cross-section of today, not a comparison with the sector’s own past. Figures are as of 2026-07-29.

### How is the Realty - Construction & Contracting sector performing?

9 of the 26 covered Realty - Construction & Contracting companies are beating NIFTY 500 on Mansfield relative strength. A 52-week sector-versus-index comparison is not available from the current market series for this sector, so it is not quoted. Readings are as of 2026-07-29.

### Why are some values on this page blank?

A blank means that company did not report a comparable figure for that period, so nothing is shown. Missing observations are never interpolated, carried forward, or replaced with a similar-looking accounting line, and a company with missing evidence has its research score pulled toward neutral rather than being scored as bad.

### Is this investment advice?

No. Every figure here is a deterministic calculation from reported company filings and market data, published for research. It contains no recommendation to buy or sell any security, does not account for your circumstances, and is not a substitute for advice from a licensed adviser.

Narrative sector analysis: https://www.sectoralpha.in/sectors/realty-construction-contracting