Key Financials Snapshot

TTM · Consolidated · ₹ in Cr
Market Cap
₹128 Cr.
Stock P/E
-6.8
P/B
0.3
Current Price
₹18.3
Book Value
₹ 67.4
Face Value
10
52W High
₹33.8
52W Low
₹ 17.3
Dividend Yield
0%

Prajay Engg.Syndicat Overview

Business

Prajay Engineers Syndicate Ltd. is an Indian real estate development company primarily engaged in the construction and development of residential, commercial, and hospitality projects. Its core business model involves acquiring land, developing integrated townships, apartments, villas, commercial complexes, and hotels, and then selling these developed properties to end-users or investors. The company generates revenue primarily through the sale of developed real estate units and properties.

Revenue Mix

The company's primary business segments revolve around real estate development. While specific revenue percentages can fluctuate based on ongoing projects and sales cycles, its main activities typically include:

Residential Projects: Development of apartments, villas, and integrated residential townships.

Commercial Projects: Construction of office spaces, retail complexes, and mixed-use developments.

Hospitality: Development and operation of hotels and resorts.

Leasing/Management: Potentially some revenue from leasing commercial properties or managing hospitality assets.

The dominant portion of its revenue generally comes from the outright sale of residential and commercial units.

Industry

The Indian real estate and construction industry is vast, highly fragmented, and cyclical. It is characterized by intense competition from numerous national and regional developers. Prajay Engineers Syndicate operates primarily in specific regional markets, historically with a strong presence in Hyderabad, Telangana. The company positions itself as a developer known for its experience in diverse projects, from residential to hospitality. Compared to national giants, Prajay operates as a mid-sized regional player, competing on local market understanding, project execution, and price points within its chosen micro-markets.

MOAT

Prajay's competitive advantages are likely derived from:

Regional Expertise & Brand Recognition: A long-standing presence and understanding of specific local markets, particularly Hyderabad, which can build trust and brand recall among local buyers.

Land Bank: A strategically acquired land bank over the years, which can provide a cost advantage and future development opportunities.

Diversified Portfolio: Experience in developing a range of projects (residential, commercial, hospitality) allows for flexibility and potentially better risk management across different real estate cycles.

Execution Capabilities: A track record of project completion and delivery, which is crucial in building customer confidence in the real estate sector.

Growth Drivers

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

Rising Disposable Incomes: Increasing affluence among the middle and upper-middle classes drives demand for quality residential and lifestyle properties.

Government Initiatives: Policy support for affordable housing, infrastructure development, and ease of doing business can stimulate the real estate sector.

Regional Economic Growth: Strong economic performance in its primary operating regions (e.g., Hyderabad's IT/ITES sector growth) can boost local real estate demand.

Hospitality Sector Revival: Post-pandemic recovery in travel and tourism can drive demand for hotel projects.

Risks

Cyclical Nature of Real Estate: The industry is highly susceptible to economic downturns, impacting property demand and prices.

Interest Rate Sensitivity: Higher interest rates can increase home loan costs for buyers and financing costs for developers, dampening sales.

Regulatory & Environmental Clearances: Delays or changes in government policies, land acquisition laws, and environmental regulations can impact project timelines and costs.

Funding & Liquidity Risk: Real estate development is capital-intensive, and access to timely and affordable financing is crucial.

Intense Competition: The fragmented nature of the market leads to significant price and quality competition.

Macroeconomic Headwinds: Inflation, subdued economic growth, or geopolitical events can negatively affect consumer sentiment and spending.

Management & Ownership

Prajay Engineers Syndicate Ltd. is a promoter-led company, with the founding family holding a significant stake and typically guiding its strategic direction and operations. Promoters usually play an active role in management. Ownership structure typically involves a substantial shareholding by the promoter group, with the remaining shares held by institutional investors, high-net-worth individuals, and the public. Management quality would depend on their execution track record, financial discipline, and adaptability to market changes.

Outlook

Prajay Engineers Syndicate operates in a dynamic Indian real estate market driven by strong underlying demographics and urbanization trends. The company's regional expertise and diversified project portfolio offer a foundation for potential growth, especially with continued economic expansion and infrastructure development in its core markets. However, the sector faces inherent challenges from its cyclical nature, interest rate fluctuations, regulatory complexities, and intense competition. The company's ability to successfully acquire land, secure timely project approvals, manage project execution efficiently, and maintain a healthy balance sheet will be critical for sustained performance. A cautious yet optimistic outlook is warranted, recognizing both the substantial growth opportunities within India's real estate sector and the significant risks associated with it.

Prajay Engg.Syndicat Share Price

Live · BSE / NSE · Inception: 1994
₹ | |
Volume
Price

Key Financials — Profit & Loss

₹ in Cr · Consolidated · annual

Prajay Engg.Syndicat 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 26 5 26 12 16 15 9 8 7 5
Other Income 1 1 1 1 1 4 1 2 2 2
Total Income 28 6 27 13 17 18 10 10 9 7
Total Expenditure 51 10 31 15 30 20 15 10 15 8
Operating Profit -23 -4 -5 -3 -13 -2 -5 0 -7 -1
Interest 0 0 0 0 0 0 0 0 0 0
Depreciation 1 1 1 1 1 1 1 1 1 1
Exceptional Income / Expenses 0 0 0 0 0 0 0 0 0 0
Profit Before Tax -24 -5 -6 -4 -14 -3 -6 -1 -8 -2
Provision for Tax 0 0 0 0 0 0 0 0 0 0
Profit After Tax -24 -5 -6 -4 -14 -3 -6 -1 -8 -3
Adjustments 0 1 0 1 0 0 -0 -0 0 0
Profit After Adjustments -24 -5 -6 -3 -14 -3 -7 -1 -8 -3
Adjusted Earnings Per Share -3.4 -0.7 -0.8 -0.5 -2 -0.4 -0.9 -0.2 -1.1 -0.4

Prajay Engg.Syndicat 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 93 69 41 49 50 38 93 30 57 57 38 29
Other Income 8 5 5 5 3 1 2 19 3 4 9 7
Total Income 100 73 46 54 53 39 95 49 61 62 47 36
Total Expenditure 106 74 43 49 48 33 87 49 91 86 60 48
Operating Profit -6 -1 3 5 5 7 9 -1 -31 -24 -13 -13
Interest 14 16 19 15 5 6 5 4 2 0 1 0
Depreciation 6 6 5 4 4 4 4 4 4 4 3 4
Exceptional Income / Expenses 0 0 2 0 0 0 0 0 0 0 0 0
Profit Before Tax -27 -22 -19 -15 -4 -4 -2 -9 -39 -29 -18 -17
Provision for Tax 2 2 1 -1 1 1 1 0 1 1 1 0
Profit After Tax -29 -24 -20 -14 -5 -5 -2 -9 -40 -30 -19 -18
Adjustments 0 0 -2 -1 -0 0 0 0 0 0 0 0
Profit After Adjustments -29 -24 -22 -15 -5 -5 -2 -9 -40 -30 -19 -19
Adjusted Earnings Per Share -4.2 -3.4 -3.2 -2.1 -0.8 -0.7 -0.4 -1.3 -5.7 -4.3 -2.7 -2.6

Prajay Engg.Syndicat 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 644 620 598 579 575 570 567 556 517 487 478
Minority's Interest 2 1 1 1 1 1 1 0 -0 -3 -3
Borrowings 174 147 144 143 144 147 150 154 156 144 133
Other Non-Current Liabilities 10 12 14 13 14 15 16 16 16 18 19
Total Current Liabilities 461 501 547 547 494 486 419 216 211 194 178
Total Liabilities 1290 1282 1304 1283 1228 1218 1153 943 900 839 804
Fixed Assets 149 144 139 135 132 134 132 128 126 151 152
Other Non-Current Assets 310 328 343 366 367 375 378 209 215 197 196
Total Current Assets 831 810 822 782 729 709 643 605 559 491 456
Total Assets 1290 1282 1304 1283 1228 1218 1153 943 900 839 804

Prajay Engg.Syndicat 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 2 2 5 5 5 4 3 3 8 36 40
Cash Flow from Operating Activities 52 56 33 49 15 7 5 7 24 19 24
Cash Flow from Investing Activities -17 -20 -20 -30 -6 -6 -5 -1 -3 -6 -14
Cash Flow from Financing Activities -35 -34 -12 -19 -10 -1 1 -2 7 -9 -7
Net Cash Inflow / Outflow 1 2 0 -0 -2 -0 -0 5 28 4 3
Closing Cash & Cash Equivalent 2 5 5 5 4 3 3 8 36 40 43

Prajay Engg.Syndicat 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) -4.21 -3.43 -3.18 -2.08 -0.76 -0.72 -0.36 -1.35 -5.7 -4.28 -2.68
CEPS(Rs) -3.3 -2.66 -2.11 -1.4 -0.14 -0.15 0.23 -0.77 -5.15 -3.76 -2.18
DPS(Rs) 0 0 0 0 0 0 0 0 0 0 0
Book NAV/Share(Rs) 92.05 88.67 85.49 82.82 82.16 81.44 81.09 79.56 73.87 69.58 67.75
Core EBITDA Margin(%) -14.95 -7.59 -4.51 -0.19 3.41 14.88 6.88 -65.54 -59.2 -49.29 -57.24
EBIT Margin(%) -13.59 -9.27 -1.08 1.09 1.88 4.7 3.5 -17.31 -64.26 -49.27 -44.18
Pre Tax Margin(%) -29.21 -32.49 -46.25 -30.54 -8.35 -10.84 -2.03 -30.59 -68.33 -50.05 -45.66
PAT Margin (%) -31.87 -35.46 -48.1 -28.69 -10.15 -13.2 -2.67 -31.59 -69.36 -52.15 -48.79
Cash Profit Margin (%) -24.94 -27.09 -35.79 -20.01 -1.9 -2.81 1.74 -18.07 -62.73 -45.74 -39.72
ROA(%) -2.28 -1.89 -1.53 -1.08 -0.4 -0.41 -0.21 -0.9 -4.33 -3.45 -2.28
ROE(%) -4.65 -3.85 -3.26 -2.38 -0.88 -0.89 -0.44 -1.68 -7.43 -5.97 -3.9
ROCE(%) -1.37 -0.7 -0.05 0.06 0.12 0.24 0.43 -0.7 -5.17 -4.16 -2.61
Receivable days 905.3 1143.84 1841.98 1492.74 1341.47 1681.92 680.84 1841.44 734.24 523.79 520.75
Inventory Days 2172.32 2930.81 4928.58 4145.44 3880.27 4885.35 1879.42 5507.57 2722.37 2465.77 3431.21
Payable days 1153.71 1519.41 3126.64 2535.11 2208.77 2515.51 877.49 3645.69 848.22 755.31 1461.64
PER(x) 0 0 0 0 0 0 0 0 0 0 0
Price/Book(x) 0.07 0.12 0.13 0.1 0.06 0.09 0.2 0.13 0.32 0.3 0.26
Dividend Yield(%) 0 0 0 0 0 0 0 0 0 0 0
EV/Net Sales(x) 3.36 5.05 8.03 5.35 4.47 6.34 3.21 7.9 5.45 4.88 6.39
EV/Core EBITDA(x) -50.47 -564.1 116.86 54.69 44.13 35.95 34.91 -368.26 -10.26 -11.57 -18.46
Net Sales Growth(%) -15.2 -25.89 -39.91 18.6 2.39 -23.34 142.53 -67.94 92.64 -0.01 -33.12
EBIT Growth(%) 33.49 49.42 93.03 219.67 77.25 91.59 80.7 -258.63 -615.1 23.34 40.03
PAT Growth(%) -19.54 17.52 18.5 29.25 63.77 0.32 50.88 -278.68 -322.92 24.82 37.42
EPS Growth(%) -19.22 18.57 7.35 34.47 63.28 5.23 50.88 -278.7 -322.92 24.82 37.42
Debt/Equity(x) 0.42 0.44 0.44 0.36 0.34 0.34 0.33 0.31 0.35 0.36 0.35
Current Ratio(x) 1.8 1.61 1.5 1.43 1.48 1.46 1.53 2.8 2.65 2.53 2.57
Quick Ratio(x) 0.6 0.52 0.47 0.43 0.42 0.42 0.46 0.72 0.72 0.63 0.57
Interest Cover(x) -0.87 -0.4 -0.02 0.03 0.18 0.3 0.63 -1.3 -15.79 -62.47 -29.77
Total Debt/Mcap(x) 6.09 3.53 3.43 3.46 6.01 3.57 1.64 2.44 1.09 1.19 1.32

Growth Rates

Compounded annual
# 1 Year 3 Year 5 Year 10 Year
Sales CAGR -33% +8% 0% -9%
Operating Profit CAGR — — 0% —
PAT CAGR — — — —
Share Price CAGR -32% -1% 0% +5%
ROE Average -4% -6% -4% -3%
ROCE Average -3% -4% -2% -1%

Prajay Engg.Syndicat Shareholding Pattern

Latest · Sep 2026
100% held
Promoters 36.8 %
FII 0 %
DII (MF + Insurance) 0 %
Public (retail) 63.2 %
# Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026 Jun 2026 Sep 2026
Promoter 36.836.836.836.836.836.836.836.836.836.8
FII 00.0100.030.020.020000
DII 0000000000
Public 63.263.1963.263.1763.1863.1863.263.263.263.2
Others 0000000000
Total 100100100100100100100100100100

Prajay Engg.Syndicat Peer Comparison

Construction - Real Estate Edit Columns

Prajay Engg.Syndicat Quarterly Price

10-year quarterly close · BSE
Show Value Show %

News & Updates

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Prajay Engg.Syndicat Pros & Cons

Pros

  • Stock is trading at 0.3 times its book value
  • Company has reduced debt.
  • Company is almost debt free.

Cons

  • Promoter holding is low: 36.8%.
  • Company has a low return on equity of -6% over the last 3 years.
  • Debtor days have increased from 755.31 to 1461.64days.
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