# Ashiana Housing share price today (Ashiana Housing Ltd, NSE: ASHIANA)

> Ashiana Housing share price today: ₹370.00 at the NSE close on 4 November 2026, up 34.8% in a year. Ashiana Housing (NSE: ASHIANA) is worth ₹3,719 crore, trades at a P/E of 31.4 and has closed between ₹274.40 and ₹396.05 over the past 52 weeks. > Ashiana Housing Ltd's share price, valuation and earnings point in different directions. The next one or two quarters should make it clearer. ASHIANA · Realty - Construction & Contracting · data as of 4 November 2026. Page: https://www.sectoralpha.in/stocks/ashiana-housing-ltd

Our note on Ashiana Housing's latest quarter, with what management said on the call, is in the Sector Alpha newsletter: https://newsletter.sectoralpha.in/p/ashiana-housing-home-sales-beat-its?utm_source=sectoralpha&utm_medium=ai_text&utm_campaign=llms

## Key numbers

- Business trend: Turning around, from the last 12 quarters
- Price: ₹370.00 (+34.8% in a year)
- P/E: 31.4× (lower than 62% of the last 11 years)
- Revenue (Jun 2026): ₹107 Cr (−63.5% on a year ago)
- Profit (Jun 2026): ₹13.0 Cr (+0.0% on a year ago)
- Operating margin: 7.0% (+3.0 points on a year ago)
- ROCE: 14%, FY26
- ROIC: 17.5%, against a 12.0% cost of capital: +5.5 points

The main question: yearly earnings per share moved +548.1% while the share price moved +34.8%. ## What is the Ashiana Housing share price today? Ashiana Housing Ltd's share price was ₹370.00 at the close on 4 November 2026. It has been rising for 31 weeks. That is 5.1% above its average price over the last 200 trading days. In the last 52 weeks it traded between ₹274 and ₹396, and at that close it sat 79% of the way up from that low. Over the past 13 weeks it has done better than the NIFTY 500, and it has stayed ahead for 1 week in a row. Over the last 11 years the share price moved +210% while the NIFTY 500 moved +257%, so it is behind the index over that whole period. The chart above shows the 13-week comparison for every week. This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row. ## What changed at Ashiana Housing this quarter? Two changes stood out: revenue fell in the June 2026 quarter and operating margin up 3 points on a year earlier. 1. Revenue fell in the June 2026 quarter Revenue was ₹107 crore, -63.5% on a year earlier (₹293 crore), after 4 quarters of growth. Why: Revenue fell because fewer homes were handed over in the quarter. Two projects got their completion papers just after the quarter ended, so their revenue moved to the next quarter. Next results: check whether Anmol Phase 3 and Amarah Phase 1 homes are handed over and their revenue is booked. From the earnings call on 12 Aug 2026. 2. Operating margin up 3 points on a year earlier 7% in the June 2026 quarter, from 4%. Why: Margins rose because marketing costs in Chennai fell as that location got bigger. Next results: check the profit left after direct costs on Anmol Phase 3 and Amarah Phase 1, which management said was in the mid-20s. From the earnings call on 12 Aug 2026. ## What are Ashiana Housing's latest quarterly results? For April to June 2026 (the quarter ended 30 June 2026), Ashiana Housing reported revenue of ₹107 crore, down 63.5% from ₹293 crore a year earlier, and a profit of ₹13.0 crore, up 0.0% from ₹13.0 crore. ### Ashiana Housing results: April to June 2026 against a year earlier

| Measure | April to June 2026 | April to June 2025 | Change |
| --- | --- | --- | --- |
| Revenue | ₹107 crore | ₹293 crore | −63.5% |
| Profit | ₹13.0 crore | ₹13.0 crore | 0.0% |
| Earnings per share | ₹1.30 | ₹1.27 | +2.4% |
| Operating margin | 7.0% | 4.0% | +3.0 points |

The next results, for July to September 2026, are due by 14 November 2026: listed companies must publish quarterly results within 45 days of the quarter's end (60 days for the January to March quarter). Ashiana Housing's management discussed these results on a call held on 12 August 2026; what it said is further down this page. (From the company's reported quarterly results (quarter ended 30 June 2026). Revenue and profit in ₹ crore.)

## What is the Ashiana Housing share price history? Ashiana Housing closed at ₹370.00 on 4 November 2026, up 34.8% from ₹274.40 a year earlier (7 November 2025) and up 92.1% over five years. Its highest weekly close since February 2016 was ₹441.35 on 14 June 2024. ### Ashiana Housing share price: then and now

| When | Close | Change to 4 Nov 2026 |
| --- | --- | --- |
| 1 week ago · 30 Oct 2026 | ₹336.95 | +9.8% |
| 1 month ago · 1 Oct 2026 | ₹383.95 | −3.6% |
| 6 months ago · 8 May 2026 | ₹375.00 | −1.3% |
| 1 year ago · 7 Nov 2025 | ₹274.40 | +34.8% |
| 3 years ago · 3 Nov 2023 | ₹225.85 | +63.8% |
| 5 years ago · 4 Nov 2021 | ₹192.65 | +92.1% |
| 10 years ago · 4 Nov 2016 | ₹142.75 | +159.2% |
| Earliest weekly close in our records · 26 Feb 2016 | ₹119.25 | +210.3% |
| Highest weekly close since February 2016 · 14 Jun 2024 | ₹441.35 | −16.2% |
| Lowest weekly close since February 2016 · 22 May 2020 | ₹40.30 | +818.1% |
| 52-week high (weekly close) · 1 Jul 2026 | ₹396.05 | −6.6% |
| 52-week low (weekly close) · 7 Nov 2025 | ₹274.40 | +34.8% |

Weekly closing prices. Each change is the move from that price to the 4 Nov 2026 close. A day's intraday high or low can go beyond these weekly closes. (565 weekly closes from 26 February 2016 to 4 November 2026.)

## What is the latest news on Ashiana Housing? 4 Nov 2026: Ashiana Housing closed at ₹370.00, up 9.8% on the week and down 3.6% on the month. 22 Sep 2026: ex-date for a dividend of ₹1.50 a share. ### Earlier

- Our read, 22 Aug 2026: Ashiana’s senior-living and premium-product mix can improve the delivery-led earnings base, but April to June 2026 revenue recognition fell sharply and the Bangalore transaction has slipped again. - 12 Aug 2026: Ashiana Housing held its results call for April to June 2026. Management guided: FY27 pre-sales around ₹2,200 crore; H1 exit around ₹1,050-1,100 crore by September 30; Q2 launches and Aaroham Phase 3 support the cadence. - Results for April to June 2026: Revenue down 63.5% and profit up 0.0% on a year earlier. - 18 Feb 2026: ex-date for an interim dividend of ₹1 a share, record date 19 Feb 2026. ### Our read of the business

Latest quarter: Revenue recognition fell as handovers shifted, while reported profit was unchanged year on year. (Our read after the latest results, written 22 August 2026.)

## What dividend does Ashiana Housing pay? Ashiana Housing paid ₹2.50 a share in regular dividends in the 12 months to 5 November 2026 (2 payments), a yield of 0.68% at the ₹370.00 close on 4 November 2026. The last was a dividend of ₹1.50 a share, ex-date 22 September 2026. ### Ashiana Housing dividends since 1 April 2021

| Ex-date | Dividend per share | Type | Record date |
| --- | --- | --- | --- |
| 22 Sep 2026 | ₹1.50 | Dividend | same day |
| 18 Feb 2026 | ₹1 | Interim | 19 Feb 2026 |
| 18 Sep 2025 | ₹1.50 | Dividend | same day |
| 11 Apr 2025 | ₹1 | Interim | same day |
| 17 Sep 2024 | ₹1.50 | Dividend | n/a |
| 21 Sep 2023 | ₹0.50 | Dividend | n/a |
| 8 Sep 2022 | ₹0.50 | Dividend | n/a |
| 23 Feb 2022 | ₹0.40 | Interim | 24 Feb 2022 |
| 2 Sep 2021 | ₹0.40 | Dividend | n/a |

Amounts as the company declared them on the NSE. A dividend goes to whoever owns the shares before the ex-date. 5 of 5 Of the last 5 financial years, years with an NSE dividend record

Yes. Ashiana Housing Ltd paid out 13% of its profit as dividends in FY26, and it paid a dividend in 11 of its last 13 reported years. 2 of those years show a negative figure because profit itself was negative. (From the NSE corporate-actions record, read 5 November 2026.)

## What did Ashiana Housing management say on the latest results call? On the call for April to June 2026, held on 12 August 2026, Ashiana Housing's management guided: FY27 pre-sales around ₹2,200 crore; H1 exit around ₹1,050-1,100 crore by September 30; Q2 launches and Aaroham Phase 3 support the cadence. > “The intent has become to reach a point where we can make 15% ROE a floor for the organization.”
> Varun Gupta, on the call for April to June 2026

### What management guided

- FY27 reported revenue approximately ₹2,000 crore; Anmol Phase 3 and Amarah Phase 1 expected to contribute approximately ₹532 crore in Jul-Sep after mid-July OCs. - FY27 ROE 20%, with 20% expected for a few more years; project framework around 30% gross margin, 18% profit before tax, 12% SG&A and 13.5% profit. - Long-term ROE is framed as a 15% floor for capital compounding. - Medium-term pre-sales goal ₹3,000-4,000 crore, including ₹1,500 crore senior-living pre-sales by FY29-30; senior living long-term growth about 25% yearly growth. Management’s own plans and goals, from our notes of the call. A plan is not a result. Source: [the call transcript](https://files.tijorifinance.com/insight/india/2525/Conference Call/CC-Aug26.pdf). (From the call for April to June 2026, 12 August 2026.)

## What is the future of Ashiana Housing? What is changing in the business? What is changing at Ashiana Housing, from the latest results and calls: senior-living mix expansion, handover-led revenue catch-up and . - Senior-living mix expansion. Senior living is the stated structural growth focus, with a higher booking goal and a larger future-development allocation. ⚠ estimate
- Handover-led revenue catch-up. Occupancy certificates for Anmol Phase 3 and Amarah Phase 1 moved recognition into Q2, making delivery execution the immediate earnings trigger. ⚠ estimate
- . Management cites senior-living pricing power, higher-end products and lower Chennai marketing cost as margin levers. ⚠ estimate

We check 16 kinds of change in every company, such as costs spread over more sales, higher-value products, new orders, new regions or falling debt, against its reported numbers and what management said on its calls. Only changes the numbers back are shown. (Our read after the latest results, written 22 August 2026.)

## What could change the Ashiana Housing story? What are the risks? The thesis breaks if scheduled Q2 handovers do not restore revenue recognition and H1 pre-sales remain below management’s stated exit range, indicating that the launch-and-delivery pipeline is not converting. ### Each change stops working if

- Senior-living mix expansion: Launches or absorption fail to convert the stated senior-living booking goal into contracted sales. - Handover-led revenue catch-up: The post-occupancy-certificate handovers are delayed again or do not convert into reported revenue. - : Higher realization fails to offset construction cost inflation or lower-margin phases remain a larger share of deliveries. - Cash-funded deployment: Receivables or inventory expansion absorbs cash while collections stop tracking booked sales. ### The main risks

- Bangalore transaction timetable slip: Bangalore remains under discussion after prior expectations of earlier documentation and closure. ✓ fact
- Delivery timing and uneven revenue recognition: The latest quarter’s revenue decline was attributed to lower deliveries, with two projects shifting recognition into Q2. ✓ fact
- Gurgaon and broader residential demand softness: Management described softer residential demand and customer caution, while relying on premiumization and resilient prices. ✓ fact
- Non-operating income can flatter quarterly profit: The latest quarter carries a flagged other-income component, so reported profit should not be read as pure operating conversion. ⚠ estimate

(Our read after the latest results, written 22 August 2026.)

## What to watch in Ashiana Housing's next results? When Ashiana Housing reports July to September 2026, these are the 4 checks that show whether the story is still on course. First: H1 pre-sales progression and Aaroham launch readiness - check whether the back-ended sales plan is materializing. - What to check (from the call)
- H1 pre-sales progression and Aaroham launch readiness - check whether the back-ended sales plan is materializing. - Post-OC handovers for Anmol Phase 3 and Amarah Phase 1 - check revenue recognition and delivery timing. - Bangalore Kanakapura Road CPs - check definitive documentation and launch readiness. - Vadgaon launch preparation and senior-living absorption - check underwriting conversion into booked sales. ## Which stock lists is Ashiana Housing on? Ashiana Housing is on one of our India lists: Real estate, REIT & cement. [Real estate, REIT & cement Group on the list: Home and office developers](https://www.sectoralpha.in/sectors/real-estate-stocks-india)

## Is Ashiana Housing profitable? Ashiana Housing Ltd earned ₹13.0 Cr of net profit in the Jun 2026 quarter, +0.0% on the same quarter a year earlier. Full-year FY26 profit was ₹118 Cr. Over 10 years profit has grown 1.1% a year on average. That is 12.1% of the quarter's revenue. The same quarter a year earlier earned ₹13.0 Cr. 2 of the last 12 reported quarters were loss-making. For the full year, FY26 profit was ₹118 Cr (+555.6% on the year before). Why profit moved: revenue changed −63.5% on a year earlier and the margin moved +3.0 percentage points. Most of the change came from keeping more of each sale. On average over the last four quarters, profit changed +141.1% and revenue +89.7%. Profit is growing faster than sales: fixed costs are spread over more sales, so each extra rupee of revenue adds more to profit. ## How much revenue does Ashiana Housing make, and is it growing? Ashiana Housing Ltd reported ₹107 Cr of revenue in the Jun 2026 quarter, −63.5% on the same quarter a year earlier. Over 10 years it has grown 8.0% a year on average. The last full year, FY26, came in at ₹1,143 Cr. The last four reported quarters add to ₹958 Cr. Why this happened. The value-chain climb is the move toward products where price and mix can support margin. The latest call says Chennai marketing cost declined as local scale increased, while senior-living pricing supports premiumization. FY26 revenue was ₹1,143 Cr, +116.1% on the year before. Recent pace: the last four quarters grew +89.7% on average, against 8.0% a year over the longer run, so this year is growing faster than its own long-run rate. Is growth speeding up? Revenue over the last 12 months grew +37.1%, against +0.8% a year over the last 8 quarters (accelerating); profit over the last 12 months grew +230.6%, against +33.3% a year (accelerating). ## How much of every ₹100 of sales does Ashiana Housing keep? Ashiana Housing Ltd's operating margin was 7.0% in the Jun 2026 quarter, 3.0 percentage points higher than the same quarter a year ago. Across 13 years it has been between −4.3% and 27.0%. The latest quarter is within that range. Why this happened. Management describes senior living as relatively less cyclical and says future-development land is entirely allocated to this category. The operating mechanism is mix: premium products and senior-living pricing are intended to improve profitability as they reach delivery. Why the margin moved: operating margin changed +3.0 percentage points on the year while gross margin changed +21.3 points. So the gain came mostly from the gross margin, which means input costs and prices charged. ## Is Ashiana Housing's profit turning into cash? Over the last 3 years, 360% of Ashiana Housing Ltd's reported profit came in as cash from its operations, so the profit is backed by cash. In FY26 it brought in ₹342 Cr of operating cash against ₹118 Cr of profit. After ₹18.0 Cr of spending on assets, ₹324 Cr was left over as free cash. Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year. Why: the cash figure is clear, but the day counts behind it are not in our data, so we show it without guessing the reason. What to look at next: the main use of cash is spending on assets. The next section checks what that spending is building. ## Where does Ashiana Housing's cash go? Ashiana Housing Ltd's customer, stock and supplier day counts come out in the thousands of days on sales this small (₹1,143 Cr in FY26), so no cash-cycle chart is drawn and this section looks at its spending on assets instead. It spent ₹91.0 Cr on assets over the last 3 years. Averaged over those years that is 2.7% of FY26 revenue a year. Spending on assets: ₹91.0 Cr over the last 3 years, against ₹35.0 Cr of depreciation (the yearly wear and tear on existing assets). So it is building well beyond replacing what wears out. Work still in progress is ₹0.0 Cr (FY26): assets paid for that are not earning yet. In short: the cash is going into new capacity, not getting stuck in the daily cycle. The question is whether the new capacity earns. ## What is Ashiana Housing's P/E ratio, and how does it compare with its own history? Ashiana Housing Ltd's P/E is 31.4×, in the middle of its own history: higher than 38% of past readings. Its usual P/E (the middle reading) is 39.7×, over 11 years of weekly prices. This compares the share price with the company’s own past. It does not say what the business is worth. Why the multiple is where it is: over the past year earnings per share moved +548.1% while the price moved +34.8%. Earnings did better than the price, which pulled the multiple down within its own range. Where the price move came from: over 10 years the price moved +10.0% a year; about −0.1% a year came from earnings growth and about +10.1 percentage points from the multiple (the market paying more). The split is approximate (price return minus earnings growth). It shows how much of the move came from the market paying a different multiple. In short: the multiple is about average against its own past, so the earnings trend underneath matters more than the multiple. ## What growth does the Ashiana Housing share price assume? Worked out from its price on 24 August 2026, Ashiana Housing Ltd's share price assumed profit growth of about 19.5% a year. Over the past 10 years its profit actually grew 1.1% a year. Today its P/E is 31.4×, lower than 62% of its own last 11 years. This is a one-day reading, taken on 24 August 2026. Every other number on this page, the multiple included, uses the latest price as of 4 November 2026. A higher price assumes more growth and a lower price less, so it changes whenever the price changes, and this page does not update it between measurements. ## Is the Ashiana Housing business getting better or worse? Ashiana Housing Ltd's business is turning around. Profit growth has swung from −78.3% at its low to +230.6%, rising from a low 5 quarters ago, with ROCE rising at 13.6%. This is based on 12 quarters of 4 measures. Why it matters: a turn in growth is often where a bigger change starts. The lines say a turn is forming, so the question is whether the next quarters confirm it. ## What is the Ashiana Housing story, and has it been checked? Ashiana Housing Ltd's story is not scored yet against the checks our research set on 22 August 2026. Where it sits in its own cycle: MID EXPANSION. Our read, 22 August 2026. Ashiana’s senior-living and premium-product mix can improve the delivery-led earnings base, but Q1 FY27 revenue recognition fell sharply and the Bangalore transaction has slipped again. From the numbers. From the price. Price stage 2, week 31, below its 200-day line, relative strength falling. From the research. Ashiana’s senior-living and premium-product mix can improve the delivery-led earnings base, but Q1 FY27 revenue recognition fell sharply and the Bangalore transaction has slipped again. Where they disagree. What is proven. Ashiana’s senior-living and premium-product mix can improve the delivery-led earnings base, but Q1 FY27 revenue recognition fell sharply and the Bangalore transaction has slipped again. What is not proven yet. The thesis breaks if scheduled Q2 handovers do not restore revenue recognition and H1 pre-sales remain below management’s stated exit range, indicating that the launch-and-delivery pipeline is not converting. What would change our mind. The thesis breaks if scheduled Q2 handovers do not restore revenue recognition and H1 pre-sales remain below management’s stated exit range, indicating that the launch-and-delivery pipeline is not converting. The test written in advance. The thesis breaks if scheduled Q2 handovers do not restore revenue recognition and H1 pre-sales remain below management’s stated exit range, indicating that the launch-and-delivery pipeline is not converting. Measured by: the thesis as written as stated by the next result. The test written in advance. The test written in advance. Bangalore transaction timetable slip. Measured by: Bangalore transaction timetable slip A formal Bangalore transaction announcement by Q3 FY27. by the next result. What the company does. FY26 revenue and profit rose from the prior year, while the latest quarter shows how handover timing can make reported performance uneven. Management continues to goal higher senior-living bookings, reported ROE and pre-sales, with launches and handovers carrying the next delivery cycle. What the surface reading misses. What the surface reading misses. The surface reading is: The annual profit growth appears to show a durable acceleration. The research reads it further: The recovery began from a low FY25 profit base and reported realty earnings depend on project handovers; absolute profit and consecutive delivery quarters matter more than the percentage. Lever 2 · Value-added mix: building. Senior living is the stated structural growth focus, with a higher booking goal and a larger future-development allocation. What proves it keeps working: Senior-living mix expansion. It stops working if Launches or absorption fail to convert the stated senior-living booking goal into contracted sales. Lever 3 · Management change: building. Occupancy certificates for Anmol Phase 3 and Amarah Phase 1 moved recognition into Q2, making delivery execution the immediate earnings trigger. What proves it keeps working: Handover-led revenue catch-up. It stops working if The post-occupancy-certificate handovers are delayed again or do not convert into reported revenue. Lever 7 · Consolidation: building. Management cites senior-living pricing power, higher-end products and lower Chennai marketing cost as margin levers. It stops working if Higher realization fails to offset construction cost inflation or lower-margin phases remain a larger share of deliveries. Lever 4 · Paying down debt: building. Collections and operating cash flow support land and project deployment, reducing dependence on a smooth quarterly profit print. What proves it keeps working: Cash-funded deployment. It stops working if Receivables or inventory expansion absorbs cash while collections stop tracking booked sales. Sources: our stock research file (22 August 2026) · quarterly results through Jun 2026 · the company’s own earnings calls. The story check is re-scored every results season; the record below never changes. ## Did Ashiana Housing management deliver what it promised? What Ashiana Housing Ltd's management promised, against what actually happened: 4 promises on the record. Read straight from the company’s own earnings calls. A promise that slipped stays on this page after it is met. Bangalore Project Closing Timeline Slipped · 12 August 2026. In Feb 2026, management expected the Bangalore transaction to conclude within 3 to 6 months, and in May 2026 it said the remaining conditions were procedural with definitive documents expected within a couple of months. By Aug 2026, the transaction was still under discussion and management did not expect an announcement in the coming quarter, without explaining the delay; this is material because Bangalore was part of the planned Senior Living expansion pipeline. Pre-sales Goal Reporting Contradiction · 12 February 2026. In the February 2026 call, management claimed to have already surpassed the company's full-year FY26 pre-sales goal of 2,000 crores. However, within the same transcript, management explicitly states that cumulative pre-sales for the nine months ended December 2025 totaled only 1,131.44 crores, creating an irreconcilable mathematical contradiction regarding current-year performance. Later call (Feb 2026): “We have surpassed our FY26 pre-sales target of 2,000 crores, driven by strong booking conversions in Ashiana Aroha, our project in Gurugram... For the nine months ended December 2025, total pre-sales were 1,131.44 crores.”

ROE Achievement Timeline Acceleration · 12 February 2026. Management previously guided in the November 2025 call that the company would cross the 20% Return on Equity (ROE) threshold by FY28 as the project mix shifted toward higher-margin developments. By the February 2026 call, management materially accelerated this outlook, confirming they now expect to reach or cross the 20% ROE threshold by next year (FY27). Earlier call (Nov 2025): “FY”. Later call (Feb 2026): “You have done the math correctly. We expect to hit a 20% ROE next year itself.”

Jaipur Land Acquisition Narrative Shift · 12 February 2026. During the November 2025 call, management projected that the conditions precedent for major land acquisitions in Jaipur, Panvel, and Bengaluru would resolve within two to three quarters. However, in the February 2026 call, management reported that while other regions moved forward, progress in Jaipur had essentially stalled with 'very little movement,' contradicting the earlier expectation of a near-term resolution. Earlier call (Nov 2025): “I would say either they will get done in the next 2, 3 quarters or if they don”. Later call (Feb 2026): “There has been progress in both Panvel and Bengaluru. Unfortunately, in Jaipur, we have not been able to make progress.”

Every quote above is taken word for word from the company’s own earnings calls. ## What is Ashiana Housing management's track record? Management handled the prior earnings trough with strong cash collection and stable ownership, but repeated timing shifts prevent a strong grade. ### Regulatory and governance record

Small tax penalties surfaced, but no serious enforcement action or material operating impact was shown. 0% Promoter shares pledged

Sources:

- [simplywall.st](https://simplywall.st/stocks/in/real-estate-management-and-development/nse-ashiana/ashiana-housing-shares/management)
- [scanx.trade](https://scanx.trade/stock-market-news/companies/ashiana-housing-receives-tax-penalties-of-2-08-286-and-20-000/44548131)
- [trendlyne.com](https://trendlyne.com/equity/share-holding/111/ASHIANA/latest/ashiana-housing-ltd)

(Checked 30 August 2026.)

## How much does Ashiana Housing earn on its capital? Ashiana Housing Ltd earned a ROCE of 14% in FY26. That is up from a low of −1% in FY20. Its return on capital used (ROIC) is 5.5 percentage points above its cost of capital, so growth here adds value, not just size. It comes from a 10.3% net margin and 0.27× asset turnover (sales divided by assets). Why the return is what it is (FY26): a 10.3% net margin × 0.27× asset turnover × 4.99× leverage (assets divided by equity) ≈ 13.9% on equity. The margin does its share; borrowing is a big part of it. The key test, return on capital used minus the cost of capital: 17.5% − 12.0% = +5.5 percentage points. The 12.0% is a standard assumption for the cost of capital in India, not an estimate for this company. Read the sign and size of the gap, not the decimals. A gap this wide means each rupee put back into the business creates more than a rupee of value. The 17.5% ROIC above is the latest reading, as reported. The yearly chart below shows FY26 at 13.6%, and the quarterly chart works out each 12-month window from the quarterly figures, so the readings differ by date, not by method. ## Does Ashiana Housing have too much debt? Ashiana Housing Ltd has total debt of ₹307 Cr against shareholder equity of ₹873 Cr as of Jun 2026, so its debt is 0.35× its equity. Year by year, that ratio went from 0.24 in FY22 to 0.38 in FY26. Keep that borrowing in mind when reading the returns on this page. Why this happened. The deterministic cash record shows OCF above PAT over both the latest year and the recent three-year window. In a milestone-billing realty model, this supports reinvestment, though the long cash cycle requires continuing collection discipline. ## What is the Ashiana Housing shareholding pattern? No group of Ashiana Housing Ltd's owners changed its stake by a full percentage point over the last two years. Domestic institutions moved +0.2 points over the same period, to 8.1%. This uses the four owner groups that companies report every quarter; nothing is guessed between filings. Why this happened. Management attributed the latest revenue softness to lower deliveries and identified post-occupancy-certificate handovers as the next recognition event. This is the operating-leverage catapult only if handovers produce reported revenue rather than another timing shift. Over the last two years: Foreign institutions: +0.7 points over 8 quarters, to 8.1%; Domestic institutions: +0.2 points over 8 quarters, to 8.1%; Promoters: +0.0 points over 8 quarters, to 61.1%. ## How far is Ashiana Housing from balance-sheet trouble? For Ashiana Housing Ltd, the Z-score is not available, so we say so rather than guess one. It estimates how far the balance sheet is from trouble; it is not a forecast of failure. The debt, cash-flow and return sections show the balance-sheet figures we do have, each with its own date. ## How does Ashiana Housing rank in its industry? 62.5 out of 100, rank 2 of 26 in Realty - Construction & Contracting, with 86% of the evidence available. Ashiana Housing Ltd scores 62.5 out of 100 against the 26 companies it is compared with in Realty - Construction & Contracting, ranking 2. The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. The four parts add up to the total exactly: 27.5 + 13 + 10.1 + 11.9 = 62.5. This is the same number shown on the industry page; it is worked out once for the whole group and read here. What would change it: The score would fall if profit growth turns negative or margins stop improving while the share price lags its sector. ## Which companies is Ashiana Housing compared with? Ashiana Housing ranks 2 of 26 Realty - Construction & Contracting companies on the 4-Factor Sector Score, with 62.5 out of 100. 1. [Suratwwala Business Group Ltd](https://www.sectoralpha.in/stocks/suratwwala-business-group-ltd) SBGLP · Most evidence points up · 76% evidence 72.7 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 32.2/43.75 · Revenue 100% · Profit 100% · Operating margin change -11.9 points · 88% evidence Capital efficiency 22.8/31.25 · ROCE 30.8% · Operating margin 31.9% · 100% evidence Valuation 17.7/25 · P/E 9.7× · PEG 1.22 · 100% evidence Relative strength: no reading this week · its 20 points are shared across the other three Exact sum: 32.2 + 22.8 + 17.7 = 72.7 (no relative-strength reading this week; its 20 points are shared across the other three) · What this means: There is no relative-strength reading for this week, so the score is built from earnings, capital efficiency and valuation alone. 2. Ashiana Housing Ltd this page ASHIANA · quiet · Evidence leans up · 86% evidence 62.5 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 27.5/35 · Revenue 37% · Profit 100% · Operating margin change 3 points · 88% evidence Capital efficiency 13.0/25 · ROCE 14% · Operating margin 7% · 100% evidence Valuation 10.1/20 · P/E 28.6× · PEG n/a · 50% evidence Relative strength 11.9/20 · Lead over its industry 2.8% · Lead over NIFTY 500 4.7% · 1 year 19.4% · 100% evidence · 1 of 12 weeks ahead Exact sum: 27.5 + 13 + 10.1 + 11.9 = 62.5 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 3. [Arihant Foundations & Housing Ltd](https://www.sectoralpha.in/stocks/arihant-foundations-housing-ltd) ARIHANT · quiet · Evidence leans up · 81% evidence 62.0 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 20.9/35 · Revenue 88.8% · Profit 38.8% · Operating margin change 1 points · 88% evidence Capital efficiency 16.7/25 · ROCE 16.4% · Operating margin 27% · 100% evidence Valuation 15.6/20 · P/E 13× · PEG 0.24 · 100% evidence Relative strength 8.8/20 · Lead over its industry n/a · Lead over NIFTY 500 -11.1% · 1 year -22% · 25% evidence · 9 of 12 weeks ahead Exact sum: 20.9 + 16.7 + 15.6 + 8.8 = 62 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 4. [PVP Ventures Ltd](https://www.sectoralpha.in/stocks/pvp-ventures-ltd) PVP · leader · Evidence leans up · 64% evidence 59.3 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 22.1/35 · Revenue 100% · Profit 100% · Operating margin change 0 points · 62% evidence Capital efficiency 9.0/25 · ROCE 6.4% · Operating margin 29% · 76% evidence Valuation 9.0/20 · P/E 75.8× · PEG n/a · 15% evidence Relative strength 19.2/20 · Lead over its industry 28.5% · Lead over NIFTY 500 30.2% · 1 year 29.7% · 100% evidence · 12 of 12 weeks ahead Exact sum: 22.1 + 9 + 9 + 19.2 = 59.3 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 5. [Ajmera Realty & Infra India Ltd](https://www.sectoralpha.in/stocks/ajmera-realty-infra-india-ltd) AJMERA · turning · Evidence leans up · 78% evidence 58.7 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 21.3/35 · Revenue 43.3% · Profit 23.5% · Operating margin change -1 points · 83% evidence Capital efficiency 16.6/25 · ROCE 14.3% · Operating margin 29% · 76% evidence Valuation 9.1/20 · P/E 16.9× · PEG n/a · 50% evidence Relative strength 11.7/20 · Lead over its industry -2.3% · Lead over NIFTY 500 -0.5% · 1 year -38.3% · 100% evidence · 2 of 12 weeks ahead Exact sum: 21.3 + 16.6 + 9.1 + 11.7 = 58.7 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 6. [Arvind SmartSpaces Ltd](https://www.sectoralpha.in/stocks/arvind-smartspaces-ltd) ARVSMART · breaking out · Evidence leans up · 78% evidence 57.2 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 19.6/35 · Revenue 5.3% · Profit 48% · Operating margin change 28 points · 83% evidence Capital efficiency 16.1/25 · ROCE 12.4% · Operating margin 49% · 76% evidence Valuation 11.6/20 · P/E 14× · PEG n/a · 50% evidence Relative strength 9.9/20 · Lead over its industry -1.7% · Lead over NIFTY 500 0.2% · 1 year -11.6% · 100% evidence · 5 of 12 weeks ahead Exact sum: 19.6 + 16.1 + 11.6 + 9.9 = 57.2 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 7. [Raymond Ltd](https://www.sectoralpha.in/stocks/raymond-ltd) RAYMOND · leader · Evidence leans up · 75% evidence 56.8 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 18.9/35 · Revenue 16.7% · Profit -80% · Operating margin change 3 points · 95% evidence Capital efficiency 9.1/25 · ROCE 3.1% · Operating margin 11% · 76% evidence Valuation 8.8/20 · P/E 138× · PEG n/a · 15% evidence Relative strength 20.0/20 · Lead over its industry 94.5% · Lead over NIFTY 500 96.4% · 1 year 91.7% · 100% evidence · 12 of 12 weeks ahead Exact sum: 18.9 + 9.1 + 8.8 + 20 = 56.8 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 8. [Eldeco Housing & Industries Ltd](https://www.sectoralpha.in/stocks/eldeco-housing-industries-ltd) ELDEHSG · turning · Evidence leans up · 81% evidence 56.5 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 29.3/35 · Revenue 38.1% · Profit 100% · Operating margin change 25 points · 88% evidence Capital efficiency 13.9/25 · ROCE 7.7% · Operating margin 36% · 100% evidence Valuation 3.5/20 · P/E 21.2× · PEG 2.59 · 100% evidence Relative strength 9.8/20 · Lead over its industry n/a · Lead over NIFTY 500 -2.1% · 1 year -11% · 25% evidence · 1 of 12 weeks ahead Exact sum: 29.3 + 13.9 + 3.5 + 9.8 = 56.5 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 9. [Capacite Infraprojects Ltd](https://www.sectoralpha.in/stocks/capacite-infraprojects-ltd) CAPACITE · quiet · Evidence leans up · 81% evidence 55.1 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 14.3/35 · Revenue 12.4% · Profit -5.6% · Operating margin change -1 points · 88% evidence Capital efficiency 15.9/25 · ROCE 15.5% · Operating margin 16% · 100% evidence Valuation 17.4/20 · P/E 6.7× · PEG 0.59 · 100% evidence Relative strength 7.5/20 · Lead over its industry n/a · Lead over NIFTY 500 -32.9% · 1 year -49.2% · 25% evidence · 0 of 12 weeks ahead Exact sum: 14.3 + 15.9 + 17.4 + 7.5 = 55.1 · What this means: The valuation scores well, but earnings are not improving yet, so the business does not back up the low multiple so far. 10. [Kolte Patil Developers Ltd](https://www.sectoralpha.in/stocks/kolte-patil-developers-ltd) KOLTEPATIL · leader · Evidence leans up · 66% evidence 54.3 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 21.4/35 · Revenue 7.8% · Profit 47.1% · Operating margin change 53 points · 65% evidence Capital efficiency 9.2/25 · ROCE -0.3% · Operating margin 21% · 100% evidence Valuation 11.5/20 · P/E 31.6× · PEG 0.74 · 65% evidence Relative strength 12.2/20 · Lead over its industry n/a · Lead over NIFTY 500 19.9% · 1 year 3.9% · 25% evidence · 12 of 12 weeks ahead Exact sum: 21.4 + 9.2 + 11.5 + 12.2 = 54.3 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 11. [Geecee Ventures Ltd](https://www.sectoralpha.in/stocks/geecee-ventures-ltd) GEECEE · leader · Evidence leans up · 96% evidence 52.0 out of 100 Growth Capital Valuation Relative
12. [Sunteck Realty Ltd](https://www.sectoralpha.in/stocks/sunteck-realty-ltd) SUNTECK · turning · Evidence leans up · 93% evidence 50.7 out of 100 Growth Capital Valuation Relative
13. [Keystone Realtors Ltd](https://www.sectoralpha.in/stocks/keystone-realtors-ltd) RUSTOMJEE · basing · Evidence leans down · 63% evidence 48.3 out of 100 Growth Capital Valuation Relative
14. [Suraj Estate Developers Ltd](https://www.sectoralpha.in/stocks/suraj-estate-developers-ltd) SURAJEST · quiet · Evidence leans down · 100% evidence 47.6 out of 100 Growth Capital Valuation Relative
15. [AGI Infra Ltd](https://www.sectoralpha.in/stocks/agi-infra-ltd) AGIIL · quiet · Evidence leans down · 96% evidence 47.5 out of 100 Growth Capital Valuation Relative
16. [Kesar India Ltd](https://www.sectoralpha.in/stocks/kesar-india-ltd) quiet · Evidence leans down · 76% evidence 45.8 out of 100 Growth Capital Valuation Relative
17. [Laxmi Goldorna House Ltd](https://www.sectoralpha.in/stocks/laxmi-goldorna-house-ltd) LGHL · breaking out · Evidence leans down · 71% evidence 45.6 out of 100 Growth Capital Valuation Relative
18. [Ganesh Housing Ltd](https://www.sectoralpha.in/stocks/ganesh-housing-ltd) GANESHHOU · basing · Evidence leans down · 100% evidence 42.9 out of 100 Growth Capital Valuation Relative
19. [Shriram Properties Ltd](https://www.sectoralpha.in/stocks/shriram-properties-ltd) SHRIRAMPPS · basing · Evidence leans down · 96% evidence 42.4 out of 100 Growth Capital Valuation Relative
20. [Omaxe Ltd](https://www.sectoralpha.in/stocks/omaxe-ltd) OMAXE · breaking out · Too little evidence to rank firmly · 56% evidence 41.6 out of 100 Growth Capital Valuation Relative
21. [Hubtown Ltd](https://www.sectoralpha.in/stocks/hubtown-ltd) HUBTOWN · turning · Evidence leans down · 68% evidence 40.2 out of 100 Growth Capital Valuation Relative
22. [Valor Estate Ltd](https://www.sectoralpha.in/stocks/valor-estate-ltd) DBREALTY · quiet · Evidence leans down · 79% evidence 40.0 out of 100 Growth Capital Valuation Relative
23. [SignatureGlobal India Ltd](https://www.sectoralpha.in/stocks/signatureglobal-india-ltd) SIGNATURE · quiet · Evidence leans down · 79% evidence 38.6 out of 100 Growth Capital Valuation Relative
24. [Puravankara Ltd](https://www.sectoralpha.in/stocks/puravankara-ltd) PURVA · quiet · Too little evidence to rank firmly · 49% evidence 54.4 out of 100 Growth Capital Valuation Relative
25. [Hemisphere Properties India Ltd](https://www.sectoralpha.in/stocks/hemisphere-properties-india-ltd) HEMIPROP · basing · Too little evidence to rank firmly · 49% evidence 30.7 out of 100 Growth Capital Valuation Relative
26. [Peninsula Land Ltd](https://www.sectoralpha.in/stocks/peninsula-land-ltd) PENINLAND · Too little evidence to rank firmly · 48% evidence 26.9 out of 100 Growth Capital Valuation Relative

Missing figures are not scored as bad. They lower the confidence and pull the final score toward the middle. Relative strength counts only when the company has a reading for this week; with no reading, that factor is left out and its 20 points are shared across the other three in proportion. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led NIFTY 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step path the industry is placed on (basing, turning, breaking out, leader, fading, asleep), read from how many weeks running it has led NIFTY 500 and whether that lead is growing or shrinking. It describes where the share price stands, not the direction of earnings, and it is not a recommendation; it is left blank for a company whose weekly history is too short or too stale to read. The figures in this ranking come from the industry comparison: results through the Sep 2026 quarter, and the P/E at that quarter's end. The sections above use the latest weekly price, so a P/E or return there can differ a little from the one here. The stage words in this ranking (such as losing its lead or breaking out) describe the lead over the index, not the price phase in the price section. Related companies: [Realty - Construction & Contracting](https://www.sectoralpha.in/sectors/realty-construction-contracting), all 26 compared on one page. ## Which companies are close to Ashiana Housing in size? Ashiana Housing is the 10th largest of 26 Realty - Construction & Contracting companies on Sector Alpha by market value (scores of 30 October 2026). Just above it: Sunteck Realty, Kolte Patil Developers and Kesar India. Just below it: AGI Infra, Hemisphere Properties India and Hubtown. ### Realty - Construction & Contracting companies close in size

1. [Sunteck Realty Ltd](https://www.sectoralpha.in/stocks/sunteck-realty-ltd) ₹4,115 crore
2. [Kolte Patil Developers Ltd](https://www.sectoralpha.in/stocks/kolte-patil-developers-ltd) ₹3,934 crore
3. [Kesar India Ltd](https://www.sectoralpha.in/stocks/kesar-india-ltd) ₹3,607 crore
4. Ashiana Housing Ltd ₹3,387 crore
5. [AGI Infra Ltd](https://www.sectoralpha.in/stocks/agi-infra-ltd) ₹2,999 crore
6. [Hemisphere Properties India Ltd](https://www.sectoralpha.in/stocks/hemisphere-properties-india-ltd) ₹2,973 crore
7. [Hubtown Ltd](https://www.sectoralpha.in/stocks/hubtown-ltd) ₹2,613 crore

[All 26 Realty - Construction & Contracting companies, largest first](https://www.sectoralpha.in/sectors/realty-construction-contracting#all-companies)

### Companies close in size in other industries

1. [Raymond Realty Ltd](https://www.sectoralpha.in/stocks/raymond-realty-ltd) ₹3,394 crore · Realty - Regional
2. [Kaveri Seed Company Ltd](https://www.sectoralpha.in/stocks/kaveri-seed-company-ltd) ₹3,390 crore · Miscellaneous
3. Ashiana Housing Ltd ₹3,387 crore
4. [Hirect Ltd](https://www.sectoralpha.in/stocks/hirect-ltd) ₹3,382 crore · Electronics - Equipment/Components
5. [Lux Industries Ltd](https://www.sectoralpha.in/stocks/lux-industries-ltd) ₹3,376 crore · Textiles - Readymade Apparel

## What else do people ask about Ashiana Housing? ### What is Ashiana Housing's share price today? Ashiana Housing Ltd's share price is ₹370.00, +34.8% over the past year. The whole company is worth ₹3,719 Cr on the market. In the last 52 weeks it traded between ₹274 to ₹396; today it is 79% of the way up from the low, 5.1% above its 200-day average (as of 4 November 2026). ### What were Ashiana Housing's latest quarterly results? Ashiana Housing Ltd reported revenue of ₹107 Cr and net profit of ₹13.0 Cr for the Jun 2026 quarter. Revenue fell 63.5% and profit rose 0.0% compared with a year earlier. Earnings per share were ₹1.30. The operating margin was 7.0%, 3.0 percentage points higher than a year earlier (as of 4 November 2026). ### What is Ashiana Housing's market cap? Ashiana Housing Ltd's market capitalisation is ₹3,719 Cr at a share price of ₹370.00. Market cap is the share price times the number of shares, so it changes whenever the price moves (as of 4 November 2026). ### How is Ashiana Housing performing? Ashiana Housing Ltd's share price has been rising for 31 weeks. In its latest quarter, revenue fell 63.5% and profit rose 0.0% compared with a year earlier. Over the past 13 weeks it has done better than the NIFTY 500, for 1 week running (as of 4 November 2026). ### Will Ashiana Housing's share price go up? This page does not forecast Ashiana Housing Ltd's share price. What it shows instead: the share price is ₹370.00, and it has been rising for 31 weeks. Its P/E of 31.4× is higher than 38% of its own last 11 years (as of 4 November 2026). ### Who owns Ashiana Housing? Promoters own 61.1% of Ashiana Housing Ltd, foreign institutions 8.1%, domestic institutions 8.1% and the public 22.7% (latest quarter). No group of owners changed its stake by a full point over the last two years (as of 4 November 2026). ### Does Ashiana Housing have too much debt? Ashiana Housing Ltd has a moderate amount of debt: its debt is 0.38× its equity, and its operating profit is 65 times its interest bill. FY26 borrowings were ₹323 Cr against equity of ₹859 Cr. Keep that borrowing in mind when reading the returns on this page (as of 4 November 2026). ### Where is Ashiana Housing in its business cycle? Ashiana Housing Ltd's FY26 operating margin was 11.0%, against a 13-year range of −4.3% to 27.0%: the middle of its own range, neither a peak nor a low. The latest quarter was 7.0%. Comparing margins with a company's own long history is a good way to see where it is in its cycle (as of 4 November 2026). ### What could break the Ashiana Housing story? The main question: yearly earnings per share moved +548.1% while the share price moved +34.8%. On price, this page treats a rise as over when the share price closes below its 200-day average on two Fridays in a row (as of 4 November 2026). ### Is Ashiana Housing a stock worth studying right now? What the numbers show: Ashiana Housing Ltd's share price, valuation and earnings point in different directions. The next one or two quarters should make it clearer. The main open question: whether the price catches up with earnings that have already grown. Every number on this page is worked out by code from the published figures, with no forecasts and no price opinions (as of 4 November 2026). ### Is there a Ashiana Housing share price forecast for 2026? What management itself guided: FY27 pre-sales around ₹2,200 crore; H1 exit around ₹1,050-1,100 crore by September 30; Q2 launches and Aaroham Phase 3 support the cadence. What is changing at Ashiana Housing, from the latest results and calls: senior-living mix expansion, handover-led revenue catch-up and . What would change the story: The thesis breaks if scheduled Q2 handovers do not restore revenue recognition and H1 pre-sales remain below management’s stated exit range, indicating that the launch-and-delivery pipeline is not converting. ### Where does this page get Ashiana Housing's management information? From Ashiana Housing's results calls, its filings and public records on governance, each dated on the page. Management’s plans are shown as plans, never as results. ## Lists

- Real estate, REIT & cement: https://www.sectoralpha.in/sectors/real-estate-stocks-india

This is research, not advice. We’re not SEBI-registered.