WEBSITE BSE:508929 NSE: AIRLTD Inc. Year: 1983 Industry: Construction - Real Estate My Bucket: Add Stock
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1. Business Overview
Avishkar Infra Realty Ltd. (AIRLTD) is an Indian company operating in the Construction and Real Estate sector. Based on its name and industry classification, the company is primarily involved in real estate development and possibly infrastructure construction activities. Its core business model likely revolves around acquiring land, planning and developing properties (which could include residential, commercial, or mixed-use projects), and then selling these developed properties to customers. The company generates revenue primarily through the sale of developed real estate units or from undertaking construction contracts.
2. Key Segments / Revenue Mix
Specific revenue mix and detailed segment breakdown for Avishkar Infra Realty Ltd. are not publicly available from the provided information. However, within the real estate sector, common segments typically include:
Residential Projects (apartments, villas, plotted developments)
Commercial Projects (office spaces, retail, hospitality)
Infrastructure Projects (roads, bridges, utilities, depending on the "Infra" part of its name)
Without specific data, it is reasonable to assume that property sales (residential or commercial) form the predominant portion of its revenue.
3. Industry & Positioning
The Indian real estate industry is large, diverse, and highly fragmented, with numerous regional and national players. It is also cyclical, heavily influenced by economic growth, interest rates, government policies, and consumer sentiment. While there are a few large, established national developers, a significant portion of the market is serviced by smaller to mid-sized regional players. Avishkar Infra Realty Ltd., as a publicly listed entity, operates within this competitive landscape. Without specific market share, project scale, or geographical presence details, its exact positioning relative to peers (e.g., regional focus, niche developer, tier-2 city presence) cannot be precisely determined. It likely competes with other mid-sized developers in its operational geographies.
4. Competitive Advantage (Moat)
Given the limited information, a clear, durable competitive advantage (moat) for Avishkar Infra Realty Ltd. is not apparent. In the real estate sector, potential moats can include:
Strategic Land Bank: Owning desirable land parcels at acquisition costs lower than current market rates.
Strong Brand Reputation: Leading to customer trust and pricing power.
Execution Capabilities: Ability to deliver projects on time and within budget with high quality.
Regulatory Expertise: Navigating complex approval processes efficiently.
Financial Strength: Access to capital at favorable rates.
Without specific project details or financial performance, it is difficult to ascertain if Avishkar Infra Realty Ltd. possesses any of these strong, enduring advantages over its competitors.
5. Growth Drivers
Key factors that could drive growth for Avishkar Infra Realty Ltd. over the next 3-5 years, assuming positive market conditions in India, include:
Urbanization and Population Growth: Continued migration to urban centers increases demand for housing and commercial spaces.
Rising Disposable Incomes: Fuels affordability and demand for better quality housing.
Government Initiatives: Supportive policies like "Housing for All," Smart Cities Mission, and infrastructure development boost the sector.
Favorable Interest Rate Regime: Lower home loan interest rates make property more affordable.
Regulatory Reforms (RERA): While initially disruptive, RERA has improved transparency and buyer confidence, which can benefit reputable developers.
Increased Infrastructure Spending: Creates demand for construction services and commercial real estate around new infrastructure.
6. Risks
Avishkar Infra Realty Ltd. faces several inherent risks associated with the real estate and construction industry:
Cyclicality: The real estate market is highly cyclical and sensitive to economic downturns, interest rate hikes, and investor sentiment.
Regulatory & Environmental Risks: Frequent changes in land use policies, environmental clearances, and building codes can lead to project delays and cost overruns.
Land Acquisition Challenges: Difficulty in acquiring suitable land at viable prices can impede growth.
Funding Risks: Reliance on debt financing makes the company vulnerable to interest rate fluctuations and liquidity crises.
Project Delays & Cost Overruns: Can erode profitability and damage reputation.
Intense Competition: The fragmented nature of the market leads to intense price competition.
Input Cost Volatility: Fluctuations in prices of raw materials (cement, steel) and labor can impact project margins.
7. Management & Ownership
As is common in India, Avishkar Infra Realty Ltd. is likely promoted by a founding family or a core group of individuals who hold significant ownership stakes. Being a publicly listed company, its ownership structure would also include institutional investors and public shareholders. Specific information regarding the promoters' background, management's track record, or exact ownership percentages is not available from the provided details. The quality of management (experience, governance standards, execution capabilities) is critical for success in this sector but cannot be assessed without further specific information.
8. Outlook
Avishkar Infra Realty Ltd. operates in a sector with significant long-term growth potential in India, driven by strong demographic trends, urbanization, and government focus on infrastructure and housing. The company stands to benefit from these tailwinds if it can execute effectively, manage its land bank strategically, and maintain financial discipline. However, the real estate industry is inherently high-risk, characterized by cyclicality, regulatory complexities, and intense competition. The company's future performance will largely depend on its ability to navigate these challenges, secure funding, successfully complete projects, and adapt to evolving market conditions. Without specific financial performance, project pipeline, or management details, a precise outlook remains speculative, but the sector offers both substantial upside potential and significant downside risks.
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Market Cap ₹1363 Cr.
Stock P/E 324.4
P/B 102.1
Current Price ₹608.4
Book Value ₹ 6
Face Value 10
52W High ₹714
Dividend Yield 0%
52W Low ₹ 70.3
Price goes above X
Price falls below X
PE goes above X
PE falls below X
₹ | |
| #(Fig in Cr.) | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 |
|---|---|---|---|---|
| Net Sales | 2 | 0 | 0 | 0 |
| Other Income | 0 | 0 | 0 | 1 |
| Total Income | 2 | 0 | 0 | 1 |
| Total Expenditure | 0 | 0 | 0 | -0 |
| Operating Profit | 2 | 0 | 0 | 1 |
| Interest | 0 | 1 | 1 | 1 |
| Depreciation | 0 | 0 | 0 | 0 |
| Exceptional Income / Expenses | 1 | 0 | 0 | 0 |
| Profit Before Tax | 3 | -0 | -0 | 0 |
| Provision for Tax | -1 | 0 | 0 | 0 |
| Profit After Tax | 4 | -1 | -0 | 0 |
| Adjustments | 0 | 0 | 0 | 0 |
| Profit After Adjustments | 4 | -0 | -0 | 0 |
| Adjusted Earnings Per Share | 1.6 | -0.2 | -0.2 | 0 |
| #(Fig in Cr.) | Mar 2024 | Mar 2025 | TTM |
|---|---|---|---|
| Net Sales | 0 | 2 | 2 |
| Other Income | 0 | 1 | 1 |
| Total Income | 0 | 4 | 3 |
| Total Expenditure | 0 | 1 | 0 |
| Operating Profit | -0 | 3 | 3 |
| Interest | 1 | 1 | 3 |
| Depreciation | 0 | 0 | 0 |
| Exceptional Income / Expenses | 0 | 1 | 1 |
| Profit Before Tax | -1 | 3 | 3 |
| Provision for Tax | 0 | -1 | -1 |
| Profit After Tax | -1 | 4 | 3 |
| Adjustments | 0 | 0 | 0 |
| Profit After Adjustments | -1 | 4 | 4 |
| Adjusted Earnings Per Share | -4.2 | 1.9 | 1.2 |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Sales CAGR | 0% | 0% | 0% | 0% |
| Operating Profit CAGR | 0% | 0% | 0% | 0% |
| PAT CAGR | 0% | 0% | 0% | 0% |
| # | 1 Year | 3 Year | 5 Year | 10 Year |
|---|---|---|---|---|
| Share Price CAGR | 809% | 166% | 130% | 30% |
| ROE Average | 193% | 96% | 96% | 96% |
| ROCE Average | 17% | 9% | 9% | 9% |
| #(Fig in Cr.) | Mar 2024 | Mar 2025 |
|---|---|---|
| Shareholder's Funds | -10 | 14 |
| Minority's Interest | 0 | -0 |
| Borrowings | 8 | 34 |
| Other Non-Current Liabilities | 0 | -1 |
| Total Current Liabilities | 9 | 11 |
| Total Liabilities | 7 | 58 |
| Fixed Assets | 0 | 2 |
| Other Non-Current Assets | 0 | 0 |
| Total Current Assets | 7 | 56 |
| Total Assets | 7 | 58 |
| #(Fig in Cr.) | Mar 2024 | Mar 2025 |
|---|---|---|
| Opening Cash & Cash Equivalents | 0 | 1 |
| Cash Flow from Operating Activities | 2 | -29 |
| Cash Flow from Investing Activities | 0 | 1 |
| Cash Flow from Financing Activities | -2 | 28 |
| Net Cash Inflow / Outflow | 0 | 0 |
| Closing Cash & Cash Equivalent | 0 | 1 |
| # | Mar 2024 | Mar 2025 |
|---|---|---|
| Earnings Per Share (Rs) | -4.22 | 1.88 |
| CEPS(Rs) | -4.22 | 1.88 |
| DPS(Rs) | 0 | 0 |
| Book NAV/Share(Rs) | -41.31 | 6.38 |
| Core EBITDA Margin(%) | 0 | 77.19 |
| EBIT Margin(%) | 0 | 168.69 |
| Pre Tax Margin(%) | 0 | 145.09 |
| PAT Margin (%) | 0 | 175.05 |
| Cash Profit Margin (%) | 0 | 175.11 |
| ROA(%) | -14.12 | 12.88 |
| ROE(%) | 0 | 192.82 |
| ROCE(%) | 0 | 17.46 |
| Receivable days | 0 | 332.61 |
| Inventory Days | 0 | 3133.46 |
| Payable days | 0 | -338.57 |
| PER(x) | 0 | 0 |
| Price/Book(x) | -1.1 | 0 |
| Dividend Yield(%) | 0 | 0 |
| EV/Net Sales(x) | 0 | 22.98 |
| EV/Core EBITDA(x) | -98.05 | 17.94 |
| Net Sales Growth(%) | 0 | 0 |
| EBIT Growth(%) | 0 | 2474.49 |
| PAT Growth(%) | 0 | 513.88 |
| EPS Growth(%) | 0 | 144.51 |
| Debt/Equity(x) | -0.81 | 2.38 |
| Current Ratio(x) | 0.79 | 5.28 |
| Quick Ratio(x) | 0.23 | 1.88 |
| Interest Cover(x) | -0.2 | 7.15 |
| Total Debt/Mcap(x) | 0.74 | 0 |
| # | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 73.71 | 73.71 | 34.69 | 34.69 | 34.69 | 34.69 | 34.69 | 34.69 | 34.69 | 34.69 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0.04 | 0.04 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 26.25 | 26.25 | 65.31 | 65.31 | 65.31 | 65.31 | 65.31 | 65.31 | 65.31 | 65.31 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 | 100 |
| # | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Promoter | 0.18 | 0.18 | 0.78 | 0.78 | 0.78 | 0.78 | 0.78 | 0.78 | 0.78 | 0.78 |
| FII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| DII | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Public | 0.06 | 0.06 | 1.46 | 1.46 | 1.46 | 1.46 | 1.46 | 1.46 | 1.46 | 1.46 |
| Others | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total | 0.24 | 0.24 | 2.24 | 2.24 | 2.24 | 2.24 | 2.24 | 2.24 | 2.24 | 2.24 |
* The pros and cons are machine generated.
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