Key Financials Snapshot

TTM · Consolidated · ₹ in Cr
Market Cap
₹356 Cr.
Stock P/E
-1.9
P/B
-1.9
Current Price
₹68.5
Book Value
₹ -35.7
Face Value
2
52W High
₹116.1
52W Low
₹ 50
Dividend Yield
0%

Emami Realty Overview

Business

Emami Realty Ltd. is a real estate development company based in India. It is part of the diversified Emami Group, a prominent Indian conglomerate. The company's core business involves the development of real estate projects across various segments including residential, commercial, retail, and integrated townships. Emami Realty focuses on creating quality spaces, leveraging the Emami brand's reputation for trust and reliability. The company primarily makes money through the sale of developed properties (apartments, villas, office spaces, retail units) and potentially through leasing commercial or retail assets.

Revenue Mix

Emami Realty operates across several key segments typical for a diversified real estate developer. These generally include:

Residential: Development and sale of apartments, villas, and plotted developments.

Commercial: Development and sale or lease of office spaces, business parks.

Retail: Development and sale or lease of shopping malls and high-street retail spaces.

Townships: Integrated large-scale developments encompassing residential, commercial, and recreational components.

Specific revenue contributions for each segment are not publicly detailed in the provided information.

Industry

The Indian real estate industry is large, highly fragmented, and cyclical, influenced by economic growth, interest rates, and government policies. It is characterized by intense competition from numerous national, regional, and local developers. Emami Realty is positioned as a reputable player backed by the strong financial standing and brand equity of the Emami Group. This affiliation provides a significant advantage in terms of brand recognition, customer trust, and access to capital compared to standalone developers. The company primarily operates in key Indian markets, often focusing on metro and tier-2 cities.

MOAT

Brand Equity: The primary competitive advantage stems from its association with the Emami Group, a well-established and trusted conglomerate in India. This brand recall and trust are crucial in the real estate sector, particularly for high-value purchases like homes.

Financial Backing & Land Bank: Being part of a large group likely provides access to capital and potential strategic land parcels, which are critical for project execution and future growth.

Execution Capability: Experience in executing diverse projects across residential, commercial, and retail segments.

Growth Drivers

Urbanization & Demographic Trends: Continued migration to urban centers and a growing middle-class population in India drive sustained demand for housing and commercial spaces.

Rising Disposable Incomes: Increasing affluence improves affordability and demand for quality real estate.

Government Initiatives: Policy support for housing (e.g., affordable housing schemes), infrastructure development, and regulatory reforms (like RERA for buyer protection) can boost sector confidence.

Favorable Interest Rates: Low home loan interest rates make property purchases more attractive and affordable.

Project Pipeline: Successful execution and launch of new projects in strategic locations.

Risks

Economic Cyclicality: The real estate sector is highly sensitive to economic downturns, changes in interest rates, and inflation, which can impact demand and pricing.

Regulatory & Approval Risks: Delays in obtaining various government approvals and environmental clearances can significantly impact project timelines and costs. Policy changes can also introduce uncertainty.

Execution & Project Risks: Potential for project delays, cost overruns, labor shortages, and supply chain disruptions.

Financing & Liquidity Risks: High capital requirements can lead to reliance on debt, making the company susceptible to interest rate fluctuations and liquidity crunches.

Intense Competition: The fragmented nature of the Indian real estate market leads to fierce competition for land, customers, and market share.

Unsold Inventory: Accumulation of unsold inventory due to slow demand or aggressive pricing can strain finances.

Management & Ownership

Emami Realty Ltd. is promoted by the Emami Group, one of India's leading business conglomerates. The company's management likely comprises experienced professionals from the real estate sector, overseen by the group's leadership. The ownership structure typically involves the promoter family holding a significant majority stake, ensuring strong strategic direction and long-term vision aligned with the broader Emami Group's objectives.

Outlook

Emami Realty operates in a fundamentally strong Indian real estate market, driven by urbanization and demographic tailwinds. Its affiliation with the reputable Emami Group provides a significant brand advantage and financial stability, aiding in customer trust and project execution. The company is well-positioned to capitalize on demand for quality residential and commercial spaces. However, the outlook is balanced by inherent industry risks, including economic cyclicality, regulatory hurdles, and intense competition. Sustained growth will depend on efficient project execution, timely launches, effective capital management, and the ability to navigate macroeconomic fluctuations and evolving market demands.

Emami Realty Share Price

Live · BSE / NSE · Inception: 2008
₹ | |
Volume
Price

Key Financials — Profit & Loss

₹ in Cr · Consolidated · annual

Emami Realty Quarterly Results

#(Fig in Cr.) Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026 Jun 2026
Net Sales 17 5 6 57 14 6 9 5 73 6
Other Income 13 13 14 13 13 8 8 7 4 4
Total Income 30 18 20 70 27 14 17 12 77 10
Total Expenditure 94 9 9 66 83 47 33 31 129 10
Operating Profit -64 9 10 4 -56 -32 -16 -19 -52 -0
Interest 29 27 27 30 29 23 25 24 25 22
Depreciation 0 0 0 0 0 0 0 0 1 0
Exceptional Income / Expenses 0 0 0 0 0 0 0 0 0 0
Profit Before Tax -93 -18 -18 -26 -85 -56 -41 -44 -77 -22
Provision for Tax -23 -5 -4 -7 -5 -5 -6 -6 -11 -6
Profit After Tax -71 -14 -13 -19 -80 -51 -36 -37 -66 -17
Adjustments 0 0 0 0 0 0 0 -0 0 -0
Profit After Adjustments -70 -14 -13 -19 -80 -51 -36 -37 -66 -17
Adjusted Earnings Per Share -18.6 -3.7 -3.5 -5.1 -21.1 -11.6 -8.1 -8.5 -15 -3.2

Emami Realty Profit & Loss

#(Fig in Cr.) Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026 TTM
Net Sales 242 1 1 69 1041 186 197 96 61 82 93 93
Other Income 86 110 117 128 187 145 45 35 38 53 28 23
Total Income 328 111 118 197 1228 331 242 131 99 135 121 116
Total Expenditure 197 -67 -101 -75 930 171 155 126 171 168 240 203
Operating Profit 131 178 219 271 298 160 86 5 -72 -33 -119 -87
Interest 137 163 216 269 371 152 68 58 95 113 97 96
Depreciation 1 0 0 1 2 2 1 1 1 1 2 1
Exceptional Income / Expenses 0 0 0 0 0 0 0 0 0 0 0 0
Profit Before Tax -7 16 3 2 -76 6 17 -55 -168 -147 -218 -184
Provision for Tax 0 4 -1 1 -24 6 2 -14 -45 -21 -28 -29
Profit After Tax -7 13 4 0 -52 1 15 -41 -123 -126 -190 -156
Adjustments 3 0 0 0 0 0 0 3 0 0 0 0
Profit After Adjustments -4 13 4 0 -52 1 15 -39 -123 -126 -189 -156
Adjusted Earnings Per Share -1.7 5.2 1.5 0.2 -13.7 0.2 4 -10.2 -32.5 -33.4 -43.2 -34.8

Emami Realty Balance Sheet

#(Fig in Cr.) Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Shareholder's Funds 14 26 144 147 95 113 127 87 -36 -162 -248
Minority's Interest 0 0 0 0 0 0 0 0 0 0 0
Borrowings 684 953 973 719 793 226 218 867 866 944 766
Other Non-Current Liabilities 2 1 -4 7 10 18 20 5 -38 -59 -87
Total Current Liabilities 1007 1164 1620 2516 2048 1590 1482 981 1403 1354 1743
Total Liabilities 1707 2145 2734 3389 2946 1946 1847 1940 2195 2077 2174
Fixed Assets 13 13 13 13 21 22 27 27 28 28 28
Other Non-Current Assets 287 408 507 580 309 58 123 130 48 123 116
Total Current Assets 1407 1724 2213 2796 2616 1867 1698 1784 2119 1926 2030
Total Assets 1707 2145 2734 3389 2946 1946 1847 1940 2195 2077 2174

Emami Realty Cash Flow

#(Fig in Cr.) Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Opening Cash & Cash Equivalents 10 4 -20 -166 8 14 12 9 15 22 7
Cash Flow from Operating Activities 236 -274 -190 -177 583 -266 118 73 -36 -75 -196
Cash Flow from Investing Activities -212 45 -131 -247 -16 1204 93 -67 -189 184 96
Cash Flow from Financing Activities -21 204 187 100 -562 -940 -214 -0 232 -124 103
Net Cash Inflow / Outflow 4 -25 -134 -324 6 -2 -3 6 7 -15 3
Closing Cash & Cash Equivalent 14 -20 -166 -490 14 12 9 15 22 7 10

Emami Realty Ratios

# Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Earnings Per Share (Rs) -1.74 5.19 1.49 0.18 -13.69 0.22 3.97 -10.2 -32.48 -33.36 -43.22
CEPS(Rs) -2.52 5.33 1.66 0.43 -13.09 0.77 4.25 -10.54 -32.2 -33 -42.88
DPS(Rs) 0 0 0 0 0 0 0 0 0 0 0
Book NAV/Share(Rs) 5.89 10.9 54.99 49.16 24.71 38.95 33.68 23.03 -9.43 -42.73 -62.6
Core EBITDA Margin(%) 18.53 7293.57 6972 208.86 10.62 8.22 20.96 -31.4 -178.13 -103.79 -157.62
EBIT Margin(%) 53.76 0 0 394.82 28.37 84.99 43.4 3.89 -118.53 -41.23 -129.61
Pre Tax Margin(%) -2.77 1749.59 175.58 2.65 -7.29 3.43 8.82 -56.9 -273.54 -178.59 -233.74
PAT Margin (%) -2.79 1348.08 245.35 0.7 -4.98 0.3 7.63 -42.77 -200.29 -153.39 -203.49
Cash Profit Margin (%) -2.53 1385.65 274.57 1.77 -4.76 1.16 8.18 -41.51 -198.29 -151.73 -201.78
ROA(%) -0.42 0.65 0.15 0.02 -1.64 0.02 0.79 -2.17 -5.95 -5.91 -8.92
ROE(%) -22.55 61.73 4.5 0.36 -44.87 0.55 12.69 -38.32 -478.06 0 0
ROCE(%) 11.96 12.88 11.68 11.14 11.26 7.32 4.96 0.22 -4.1 -1.87 -6.91
Receivable days 0.76 0 0 80.36 15.14 107.33 48.47 50.11 72.51 48.35 33.01
Inventory Days 1041.78 0 0 7333.13 414.48 1645.72 1551.45 3301.8 5479.37 4324.25 4492.06
Payable days 1215.76 -35.24 -20.78 -13.77 7.18 1523.4 444.11 -26.24 -47.77 -21.33 -6.35
PER(x) 0 16.32 161.16 648.93 0 183.09 15.08 0 0 0 0
Price/Book(x) 5.77 7.76 4.36 2.34 1.13 1.03 1.78 2.7 -11.13 -2.71 -0.88
Dividend Yield(%) 0 0 0 0 0 0 0 0 0 0 0
EV/Net Sales(x) 5.23 1870.51 1770.12 41.83 2.44 9.48 8.86 18.76 37.22 28.37 23.93
EV/Core EBITDA(x) 9.67 9.81 11.86 10.57 8.55 11.05 20.17 364.43 -31.94 -71.68 -18.71
Net Sales Growth(%) 771.66 -99.61 57 4570.14 1418.97 -82.09 5.4 -51.07 -36.08 33.92 13.18
EBIT Growth(%) 52.49 38.32 21.62 23.73 9.13 -46.33 -46.19 -95.61 -2047.86 53.41 -255.77
PAT Growth(%) 36.01 286.72 -71.43 -86.59 0 101.08 2578.57 -374.13 -199.37 -2.56 -50.15
EPS Growth(%) -134.55 397.17 -71.32 -88.06 -7806.02 101.59 1719.84 -356.95 -218.31 -2.71 -29.58
Debt/Equity(x) 83.44 58.73 15.17 18.62 26.25 15.35 11.98 18.2 -53.66 -11.77 -7.29
Current Ratio(x) 1.4 1.48 1.37 1.11 1.28 1.17 1.15 1.82 1.51 1.42 1.16
Quick Ratio(x) 0.73 0.71 0.61 0.51 0.98 0.65 0.58 0.89 0.84 0.67 0.43
Interest Cover(x) 0.95 1.1 1.01 1.01 0.8 1.04 1.26 0.06 -0.76 -0.3 -1.24
Total Debt/Mcap(x) 14.47 7.57 3.48 7.94 31.37 14.97 6.73 6.75 4.82 4.35 8.31

Growth Rates

Compounded annual
# 1 Year 3 Year 5 Year 10 Year
Sales CAGR +13% -1% -13% -9%
Operating Profit CAGR — 0% 0% 0%
PAT CAGR — — 0% —
Share Price CAGR -27% -4% +1% -1%
ROE Average 0% -159% -101% -46%
ROCE Average -7% -4% -2% +5%

Emami Realty Shareholding Pattern

Latest · Sep 2026
100% held
Promoters 73.42 %
FII 0 %
DII (MF + Insurance) 0.01 %
Public (retail) 26.57 %
# Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026 Jun 2026 Sep 2026
Promoter 63.4663.4663.4663.4668.4568.4568.4568.4573.4273.42
FII 0.190.070.15000.040000
DII 0.020.020.020.020.010.010.010.010.010.01
Public 36.3336.4636.3736.5331.5431.531.5331.5426.5726.57
Others 0000000000
Total 100100100100100100100100100100

Emami Realty Peer Comparison

Construction - Real Estate Edit Columns

Emami Realty Quarterly Price

10-year quarterly close · BSE
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News & Updates

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Emami Realty Pros & Cons

Pros

  • Stock is trading at -1.9 times its book value
  • Company has reduced debt.
  • Company is almost debt free.

Cons

  • Company has a low return on equity of -159% over the last 3 years.
  • Debtor days have increased from -21.33 to -6.35days.
  • Earnings include an other income of Rs. 28 Cr.
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