About Company’s Business:
Engaged in real estate since 1986, the company operates in South Central Mumbai, specializing in residential and commercial development. Their residential portfolio spans Mahim, Dadar, Prabhadevi, and Parel, key sub-markets within South-Central Mumbai. Focused on value luxury, luxury segments, and commercial projects, the company is expanding into residential real estate in the Bandra sub-market. Their expertise lies in redeveloping tenanted properties under Regulation 33(7) of the Development Control and Promotion Regulations in Mumbai. With a history of 42 completed projects covering 1,046,543.20 square feet, they have 13 ongoing projects and 16 upcoming projects, emphasizing tenant settlement for unlocking value. The company relies entirely on third-party contractors for project construction.
About the Industry:
Globally acknowledged is the significant impact of demographic shifts on real estate demand. India, with a vast population exceeding 1.37 billion, constitutes a substantial domestic demand base, attracting global businesses to establish operations. Concurrently, the country experiences rapid urbanization, and according to UNDP projections, approximately 50% of India’s population will be urbanized by 2046. This swift urbanization is anticipated to propel the demand for various real estate asset classes, including housing and offices, in the medium to long term. UNDP forecasts indicate that by 2035, there will be eight Indian cities with a population exceeding 10 million, underscoring the substantial unmet housing demand.
Key Financial Information (â‚ą in million):
Certainly! Here’s the tabulated information based on the data provided:
| Particulars | Three months ended June 30, 2023 | As at and for the Fiscal 2023 | As at and for the Fiscal 2022 | As at and for the Fiscal 2021 |
|---|---|---|---|---|
| Equity Share capital (â‚ą) | 158.75 | 158.75 | 158.75 | 63.50 |
| Net worth (â‚ą) (1) | 861.05 | 713.92 | 391.63 | 291.47 |
| Revenue from operations (â‚ą) | 1,024.10 | 3,057.44 | 2,727.18 | 2,399.87 |
| Profit after tax (â‚ą) | 145.28 | 320.64 | 265.04 | 62.77 |
| Earnings per share (basic and diluted) (â‚ą) | ||||
| - Basic (2) | 4.58 | 10.10 | 8.35 | 1.98 |
| - Diluted (3) | 4.58 | 10.10 | 8.35 | 1.98 |
| Net asset value per Equity Share (â‚ą) (4) | 27.12 | 22.49 | 12.33 | 45.90 |
| Total borrowings (â‚ą) | 5,985.00 | 5,930.93 | 6,381.57 | 6,004.78 |
Please note that the values are in crores (â‚ą). If you have any specific questions or need further clarification, feel free to ask!
Objective of the Issue:
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Repayment/Prepayment of the aggregate outstanding borrowings of our Company and our Subsidiaries, Accord Estates Private Limited Iconic Property Developers Private Limited and Skyline Realty Private Limited;
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Acquisition of land or land development rights
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General corporate purposes.
For more detailed information, you can refer to the IPO Prospectus (RHP) filed by the company.
| Important information regarding the IPO | |
|---|---|
| Open Date | Monday, December 18, 2023 |
| Close Date | Wednesday, December 20, 2023 |
| Issue Size | â‚ą400.00 Crores |
| Price | â‚ą340 to â‚ą360 per share |
| Lot Size | 41 Shares |
| Basis of Allotment | Thursday, December 21, 2023 |
| Initiation of Refunds | Friday, December 22, 2023 |
| Credit of Shares to Demat | Friday, December 22, 2023 |
| Listing Date | Tuesday, December 26, 2023 |
How to apply for this IPO?
You can locate the redirection link to the IPO on the home screen of the Dhan App. Alternatively, you can access it by navigating to the “Money” Section at the bottom right and swiping right to reach the “IPO” Tab.
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