As of 6 Nov 2026, Garnet Construction trades at 3.1× trailing earnings, below the industry P/E of 22.1×, and the shares are 62% below their 52-week high. Its ROCE of 35% is the highest among the 7 largest Real Estate (Development) peers. It carries very little debt. It is a small-cap company with a market cap of ₹62 Cr, ranked 77th of 112 Real Estate (Development) companies by market cap; the shares fell 27% over the past year.
- ₹45.90
- ₹46.00
- ₹44.30
- ₹45.97
- 581
Health check
- ReturnsBehind
−27.2% over a year, better than 1 of 7 peers.
- Price tagCheaper
P/E 3.1 vs industry 22.1.
- GrowthStrong
Sales +245.1%, profit +413.3% a year over 3 years.
- ProfitabilityStrong
ROCE 35.3% vs peer median 10.4%.
- Balance sheetFair
Debt 0.06× equity, interest covered 82.6×, Piotroski 5 of 9.
- Red flags3 to check
Quarterly profit down 105.7% on a year ago.
Small cap
Defensive
Key metrics
- Market cap
- ₹62 Cr
- Small cap
- P/E
- 3.1
- Industry 22.1
- Price to book
- 0.44
- Peers 2.88
- Dividend yield
- 0.00%
- ROE
- 32.2%
- Peers 11.1%
- ROCE
- 35.3%
- Peers 10.4%
- Debt to equity
- 0.06
- Debt ₹8.19 Cr
- EPS (TTM)
- ₹14.54
- OPM (TTM)
- 60.0%
- Net margin 47.8%
- Sales growth
- −100.3%
- Latest quarter vs a year ago
- Profit growth
- −105.7%
- Latest quarter vs a year ago
- Price to sales
- 1.46
- EV/EBITDA 2.7
Strengths and risks
Strengths
- Return on equity of 32.2%.
- Return on capital employed of 35.3%.
- Practically debt-free.
- Net margin of 47.8%.
- P/E of 3.1 against an industry P/E of 22.1.
Risks to check
- Quarterly profit down 105.7% on a year ago.
- Quarterly sales down 100.3% on a year ago.
- 62% below its 52-week high.
About Garnet Construction
Garnet Construction Limited operates as a real estate development company in India. The company engages in residential, commercial, industrial, and retail projects, including mass housing and cluster redevelopment projects, as well as develops, manages, and leases industrial plots and sheds. It also provides real estate related services for residential, industrial, commercial open plots, and bungalows. The company serves individuals and institutional…
- Headquarters
- Mumbai
- Employees
- 45
- Sector
- Real Estate
- ISIN
- INE797D01017
- Website
- garnetconstructions.com
Price range
- Avg volume (3M)
- 5K
- 1-year return
- minus 27.2%
- From 52-week high
- minus 61.6%
Peers · Real Estate - Development
| Company | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| DLFDLF | 752.90 | plus 1.03% | 1,86,366 | 40.8 | 127.6 | 6.3% | 15.3% | 0.01 | 11.3% | minus 3.8% |
| LODHALodha Developers | 1,179.00 | plus 0.27% | 1,17,812 | 27.1 | 25.2 | 18.2% | 33.1% | 0.41 | 20.4% | minus 3.9% |
| OBEROIRLTYOberoi Realty | 1,739.00 | minus 0.13% | 63,230 | 24.0 | 18.8 | 16.7% | 57.5% | 0.14 | 12.9% | minus 2.2% |
| GODREJPROPGodrej Properties | 1,809.30 | minus 0.31% | 54,501 | 40.4 | – | 11.1% | −6.5% | 1.02 | 32.4% | minus 20.9% |
| BRIGADEBrigade Enterprises | 558.15 | minus 0.89% | 18,205 | 25.1 | 15.6 | 9.8% | 29.2% | 0.83 | 18.5% | minus 26.2% |
| ANANTRAJAnant Raj | 445.45 | minus 4.41% | 16,031 | 26.5 | 24.1 | 10.4% | 27.8% | 0.13 | 37.9% | minus 27.8% |
| SOBHASobha | 1,275.40 | minus 1.28% | 13,642 | 71.4 | 46.7 | 7.4% | 6.5% | 0.33 | 16.3% | minus 20.2% |
| GARNETGarnet Construction | 44.50 | minus 3.20% | 62 | 3.1 | 1.3 | 35.3% | 60.0% | 0.06 | 245.1% | minus 27.2% |
| Median of 7 peers | – | −0.31% | 54,501 | 27.1 | 24.7 | 10.4% | 27.8% | 0.33 | 18.5% | −20.2% |
Quarterly results
| ₹ Cr | Jun 25 | Sep 25 | Dec 25 | Mar 26 | Jun 26 |
|---|---|---|---|---|---|
| 40.4 | 16.3 | 15.8 | 10.4 | −0.1 | |
| 15.8 | 7.3 | 2 | 7 | 0.6 | |
| 24.6 | 8.9 | 13.8 | 3.4 | −0.7 | |
| 61.0% | 54.9% | 87.5% | 32.7% | 577.8% | |
| 0 | 0 | 0.1 | 3.4 | 0 | |
| 0.2 | 0.2 | 0.4 | 0.2 | 0.2 | |
| 0.1 | 0.1 | 0.2 | 0.1 | 0.2 | |
| 24.4 | 8.7 | 13.3 | 6.5 | −1.1 | |
| 25.4% | 24.9% | 24.5% | 26.9% | 3.2% | |
| 18.2 | 6.5 | 10 | 4.7 | −1 | |
| 13.10 | 4.70 | 7.20 | 3.39 | -0.75 |
Profit & loss
- Sales CAGR 3Y
- +245.1%
- Profit CAGR 3Y
- +413.3%
- EPS CAGR 3Y
- +413.2%
- ROE
- 32.2%
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 2 | 11.1 | 16.1 | 82.8 | |
| – | +452.8% | +44.6% | +414.7% | |
| 3.4 | 13.1 | 8.3 | 26.4 | |
| −1.4 | −2 | 7.8 | 56.4 | |
| −68.4% | −17.6% | 48.6% | 68.1% | |
| 2.4 | 7 | 3.2 | 3.2 | |
| 0.2 | 0.7 | 0.8 | 0.6 | |
| 0.3 | 0.3 | 0.3 | 0.5 | |
| −0 | – | – | −5.7 | |
| 0.5 | 4.1 | 9.9 | 52.8 | |
| 36.2% | 28.2% | 25.2% | 25.3% | |
| 0.3 | 2.9 | 7.4 | 39.5 | |
| – | +908.3% | +151.9% | +433.1% | |
| 0.21 | 2.11 | 5.33 | 28.39 |
Forecast
Balance sheet
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 13.9 | 13.9 | 13.9 | 13.9 | |
| 78.7 | 81.6 | 89 | 128 | |
| 14.7 | 10.5 | 8.6 | 9.1 | |
| 55.2 | 57 | 64 | 63.6 | |
| 163 | 163 | 176 | 215 | |
| 4.2 | 3.9 | 4.6 | 6.3 | |
| 0.1 | 0.1 | 0.1 | 0.1 | |
| 1.3 | 0.1 | 0.1 | 0.1 | |
| 157 | 159 | 171 | 209 | |
| 163 | 163 | 176 | 215 |
Cash flow
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| −1.4 | −2.3 | 0.6 | −0.7 | |
| 2 | 5.9 | 2.3 | 1.2 | |
| −1.5 | −4.9 | −2.9 | −0.5 | |
| −0.9 | −1.3 | −0 | 0.1 | |
| −0.1 | −0 | −0.9 | −2.2 | |
| −1.5 | −2.4 | −0.4 | −2.9 |
Shareholding pattern
This company is listed only on BSE, so there’s no NSE category split. See Major shareholders below for the named holders.
Major shareholders
Filings & events
News
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