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Neo Infracon Overview

1. Business Overview

Neo Infracon Ltd. operates within the construction and real estate sector in India. The company is primarily involved in real estate development activities, which typically include land acquisition, planning, designing, constructing, and marketing various types of properties. Its core business model likely revolves around developing residential projects (apartments, villas), commercial spaces (offices, retail outlets), or mixed-use developments. Revenue is primarily generated through the sale of developed real estate units, booking advances, and project completion payments. The company may also undertake contract-based construction for external clients.

2. Key Segments / Revenue Mix

Specific details regarding Neo Infracon Ltd.'s key business segments or revenue mix are not publicly available. However, based on its sector, potential revenue streams would generally come from:

Residential Development: Sale of housing units (apartments, plots, villas).

Commercial Development: Sale or leasing of office spaces, retail properties, or other commercial establishments.

Construction Contracting: Providing construction services for third-party clients (if applicable).

Without further financial reporting, a precise breakdown is not possible.

3. Industry & Positioning

The Indian construction and real estate industry is large, diverse, and highly competitive, characterized by numerous regional and national players. It is largely driven by urbanization, population growth, infrastructure development, and rising disposable incomes. The market is fragmented, with many local developers focusing on specific cities or micro-markets. Large, organized players often dominate the high-end and large-scale project segments, while smaller and mid-sized companies like Neo Infracon often cater to specific regional demand, affordable housing segments, or niche commercial projects. The company's exact positioning would depend on its project scale, geographic focus, and target customer segment within the competitive Indian landscape.

4. Competitive Advantage (Moat)

For a company operating in the highly competitive Indian real estate sector, strong, durable competitive advantages (moats) are often difficult to establish and maintain. Potential sources of competitive advantage for Neo Infracon, if present, might include:

Local Market Expertise: Deep understanding of specific regional land regulations, customer preferences, and supply chains.

Efficient Project Execution: Ability to deliver projects on time and within budget, building trust and reputation.

Strategic Land Bank: Access to prime land parcels at favorable costs.

Brand Reputation: A track record of quality construction and timely delivery, especially within its operating regions.

However, without specific details, it's challenging to ascertain if Neo Infracon possesses a significant, defensible moat beyond general operational capabilities.

5. Growth Drivers

Key factors that can drive growth for Neo Infracon over the next 3-5 years include:

Urbanization & Population Growth: Continued migration to urban centers increases demand for housing and commercial spaces.

Rising Disposable Incomes: Improves affordability and demand for mid-income and luxury housing.

Government Initiatives: Policy support for affordable housing (e.g., PMAY), smart cities, and infrastructure development.

Favorable Interest Rate Environment: Lower home loan rates can boost buyer sentiment and sales.

Infrastructure Development: New roads, metros, and civic amenities enhance connectivity and property values in surrounding areas.

Professionalization of Real Estate: Increased transparency and regulation (e.g., RERA) favor organized and compliant developers.

6. Risks

Neo Infracon faces several business risks inherent to the real estate sector:

Economic Slowdown: A downturn in the broader economy can reduce consumer confidence, property demand, and pricing power.

Interest Rate Fluctuations: Rising interest rates can increase borrowing costs for developers and make home loans more expensive for buyers, impacting sales.

Regulatory & Policy Changes: Changes in land acquisition laws, environmental clearances, taxation (e.g., GST), or RERA regulations can cause project delays and cost escalations.

High Debt & Funding Challenges: Real estate development is capital-intensive, making companies vulnerable to financing availability and debt servicing costs.

Project Delays & Cost Overruns: Issues with approvals, labor shortages, material price volatility, or unforeseen circumstances can lead to delays and reduced profitability.

Intense Competition: The fragmented nature of the industry leads to strong competition, potentially impacting pricing and market share.

Land Acquisition Challenges: Difficulty in acquiring suitable land parcels at reasonable costs can hinder new project launches.

7. Management & Ownership

As an Indian company, Neo Infracon Ltd. is likely promoted and controlled by its founding family or a group of primary stakeholders (promoters) who often hold a significant ownership stake. The management team would typically comprise professionals with experience in real estate development, project management, and finance. The quality of management is crucial for navigating the complex regulatory landscape, executing projects efficiently, and managing financial risks. Specific details about the promoters and management quality would require a review of their past track record, corporate governance practices, and public disclosures.

8. Outlook

Neo Infracon operates in a sector with significant long-term tailwinds driven by India's demographic advantages, urbanization, and economic growth, which should sustain demand for real estate. Government focus on infrastructure and affordable housing also provides potential growth avenues. However, the company faces inherent cyclicality, high capital intensity, and intense competition within the real estate market. Its ability to achieve sustainable growth will depend on prudent land bank management, efficient project execution, financial discipline, and adapting to evolving regulatory frameworks. While the macro environment offers opportunities, navigating the competitive and capital-intensive nature of the industry remains a key challenge.

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Neo Infracon Key Financials

Market Cap ₹21 Cr.

Stock P/E 27.3

P/B 3.1

Current Price ₹40.5

Book Value ₹ 12.9

Face Value 10

52W High ₹55

Dividend Yield 0%

52W Low ₹ 24.8

Neo Infracon Share Price

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Volume
Price

Neo Infracon Quarterly Price

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Neo Infracon Peer Comparison

Neo Infracon Quarterly Results

#(Fig in Cr.) Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025
Net Sales 0 2 1 1 1 3 5 3 1 2
Other Income 0 0 0 0 0 0 0 0 0 0
Total Income 0 2 1 1 1 3 5 3 1 3
Total Expenditure 0 2 1 1 1 2 4 2 1 2
Operating Profit -0 1 0 -0 0 1 2 1 -0 1
Interest 0 0 0 0 0 0 0 0 0 0
Depreciation 0 0 0 0 0 0 0 0 0 0
Exceptional Income / Expenses 0 0 0 0 0 0 0 0 0 0
Profit Before Tax -0 0 0 -0 -0 0 1 0 -0 0
Provision for Tax 0 0 0 0 0 0 0 0 0 0
Profit After Tax -0 0 -0 -0 -0 0 1 0 -0 0
Adjustments 0 -0 0 0 -0 -0 0 0 0 -0
Profit After Adjustments -0 0 -0 -0 -0 0 1 0 -0 0
Adjusted Earnings Per Share -0.5 0.7 -0.1 -0.9 -0.6 0.5 2.4 0.3 -0.7 0.6

Neo Infracon 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 TTM
Net Sales 6 6 4 0 16 15 4 6 4 10 11
Other Income 0 0 0 1 2 3 3 2 1 1 0
Total Income 7 6 4 1 18 18 7 8 5 11 12
Total Expenditure 6 5 4 1 13 16 5 7 4 9 9
Operating Profit 1 1 -0 0 4 2 2 1 1 2 4
Interest 0 1 2 2 1 1 1 1 1 1 0
Depreciation 0 0 0 0 0 0 0 0 0 0 0
Exceptional Income / Expenses 0 0 0 0 0 0 0 0 0 0 0
Profit Before Tax 0 0 -2 -2 3 1 1 -0 -0 1 1
Provision for Tax 0 0 0 0 1 0 0 0 0 0 0
Profit After Tax -0 -0 -2 -2 2 1 1 -0 -0 1 1
Adjustments 0 0 0 0 0 0 0 0 0 0 0
Profit After Adjustments -0 -0 -2 -2 2 1 1 -0 -0 1 1
Adjusted Earnings Per Share -0.1 -0 -4.1 -3.3 4.2 2 1.8 -0.3 -0.2 1.5 2.6

Growth Rates

# 1 Year 3 Year 5 Year 10 Year
Sales CAGR 150% 36% -9% 0%
Operating Profit CAGR 100% 0% -13% 0%
PAT CAGR 0% 0% -13% 0%
# 1 Year 3 Year 5 Year 10 Year
Share Price CAGR 56% 58% 24% -0%
ROE Average 12% 3% 9% 1%
ROCE Average 10% 5% 6% 4%

Neo Infracon 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
Shareholder's Funds 6 6 4 2 4 5 6 6 6 7
Minority's Interest 0 0 0 0 0 0 0 0 0 0
Borrowings 35 39 37 8 4 7 9 1 10 10
Other Non-Current Liabilities 0 0 0 2 2 2 3 2 2 2
Total Current Liabilities 11 8 7 40 37 30 18 22 15 14
Total Liabilities 52 53 49 51 47 45 36 30 33 32
Fixed Assets 4 4 3 3 3 3 4 4 4 4
Other Non-Current Assets 0 0 0 1 1 1 1 1 1 1
Total Current Assets 48 49 45 47 43 41 30 25 28 27
Total Assets 52 53 49 51 47 45 36 30 33 32

Neo Infracon 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
Opening Cash & Cash Equivalents 0 0 0 0 0 0 3 0 0 0
Cash Flow from Operating Activities -2 -4 3 0 12 8 7 3 -2 2
Cash Flow from Investing Activities -11 0 -0 -0 -0 -0 -1 -1 -0 -0
Cash Flow from Financing Activities 12 4 -3 -0 -12 -5 -9 -2 3 -2
Net Cash Inflow / Outflow -0 0 -0 -0 0 2 -2 -0 0 -0
Closing Cash & Cash Equivalent 0 0 0 0 0 3 0 0 0 0

Neo Infracon Ratios

# Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Earnings Per Share (Rs) -0.08 -0.01 -4.15 -3.33 4.18 2.02 1.78 -0.31 -0.24 1.48
CEPS(Rs) 0.07 0.28 -3.86 -3.05 4.47 2.17 1.99 0.09 0.19 1.9
DPS(Rs) 0 0 0 0 0 0 0 0 0 0
Book NAV/Share(Rs) 11.27 11.26 7.11 3.78 7.97 9.99 11.76 11.45 11.21 12.69
Core EBITDA Margin(%) 6.03 13.04 -16.38 -285.77 15.29 -5.45 -26.97 -10.93 -7.49 15.66
EBIT Margin(%) 7.1 15.08 -9.35 95.92 27.16 15.43 45.74 9.39 13.27 21.37
Pre Tax Margin(%) 1.46 3.65 -55.95 -783.76 18.37 8.93 23.99 -1.91 -1.58 8.68
PAT Margin (%) -0.64 -0.09 -58.23 -859.95 14.28 7.21 22.16 -2.57 -3.31 7.68
Cash Profit Margin (%) 0.55 2.66 -54.24 -786.71 15.25 7.75 24.8 0.72 2.69 9.85
ROA(%) -0.08 -0.01 -4.3 -3.53 4.51 2.32 2.34 -0.5 -0.4 2.42
ROE(%) -0.68 -0.09 -45.13 -61.09 71.17 22.52 16.32 -2.69 -2.11 12.41
ROCE(%) 1.05 1.91 -0.81 0.46 10.83 7.11 7.71 3.03 2.44 9.69
Receivable days 145.79 156.33 236.83 4392.14 60.72 161.19 510.2 117.25 209.73 65.76
Inventory Days 2352.69 2690.9 3955.33 0 964.59 795.93 2170.63 1280.87 2023.03 743.78
Payable days 125.31 155.99 119.99 0 72.76 63.42 244.58 134.69 513.03 184.49
PER(x) 0 0 0 0 4.19 7.47 11.83 0 0 18.14
Price/Book(x) 2.69 5.73 6.47 6.28 2.2 1.51 1.79 0.87 1.52 2.12
Dividend Yield(%) 0 0 0 0 0 0 0 0 0 0
EV/Net Sales(x) 8.28 13.08 16.67 260.98 2.56 2.01 5.98 2.85 6.61 2.93
EV/Core EBITDA(x) 99.98 73.34 -310.56 154.27 9.1 12.61 12.36 22.44 34.32 12.45
Net Sales Growth(%) 0 -12.64 -32.37 -94.56 7463.65 -4.24 -71.43 51.38 -40.49 167.58
EBIT Growth(%) 0 85.5 -141.96 155.75 2041.45 -45.61 -15.29 -68.92 -15.92 330.88
PAT Growth(%) 0 87.09 0 19.7 225.62 -51.66 -12.18 -117.57 23.5 721.72
EPS Growth(%) 0 87.15 0 19.7 225.62 -51.66 -12.18 -117.57 23.5 721.63
Debt/Equity(x) 6.2 6.56 10.25 20.47 7.24 4.62 2.31 2.16 2.78 2.37
Current Ratio(x) 4.39 6.36 6.08 1.19 1.17 1.34 1.66 1.15 1.85 1.91
Quick Ratio(x) 0.65 1.07 0.61 0.1 0.12 0.48 0.31 0.21 0.38 0.52
Interest Cover(x) 1.26 1.32 -0.2 0.11 3.09 2.37 2.1 0.83 0.89 1.68
Total Debt/Mcap(x) 2.3 1.15 1.59 3.26 3.29 3.05 1.29 2.48 1.84 1.12

Neo Infracon Shareholding Pattern

# Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
Promoter 53.99 53.99 57.08 58.05 58.13 58.75 58.75 59.61 60.25 60.79
FII 0 0 0 0 0 0 0 0 0 0
DII 0 0 0 0 0 0 0 0 0 0
Public 46.01 46.01 42.92 41.95 41.87 41.25 41.25 40.39 39.75 39.21
Others 0 0 0 0 0 0 0 0 0 0
Total 100 100 100 100 100 100 100 100 100 100

Neo Infracon News

Neo Infracon Pros & Cons

Pros

  • Debtor days have improved from 513.03 to 184.49days.

Cons

  • Company has a low return on equity of 3% over the last 3 years.
  • Stock is trading at 3.1 times its book value.
  • The company has delivered a poor profit growth of -12% over past five years.
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