Pansari Developers (PANSARI) had a P/E of 24.4× on 6 Nov 2026, above the industry P/E of 22.1×, and the shares are 29% below their 52-week high. It earns ROCE of 18% and ROE of 13%, and sales and net profit grew 53% and 109% a year over 3 years. Debt is 0.65× equity. It is a small-cap company with a market cap of ₹482 Cr, ranked 43rd of 112 Real Estate (Development) companies by market cap; the shares rose 4.2% over the past year.
- ₹280.00
- ₹280.00
- ₹272.00
- ₹275.10
- 524
Health check
- ReturnsAhead
+4.2% over a year, better than 7 of 7 peers.
- Price tagIn line
P/E 24.4 vs industry 22.1.
- GrowthStrong
Sales +53.4%, profit +109.3% a year over 3 years.
- ProfitabilityAverage
ROCE 18.5% vs peer median 10.4%.
- Balance sheetStretched
Debt 0.65× equity, interest covered 1.1×.
- Red flags2 to check
Quarterly sales down 17.4% on a year ago.
Small cap
Market sensitivity
Key metrics
- Market cap
- ₹482 Cr
- Small cap
- P/E
- 24.4
- Industry 22.1
- Price to book
- 3.12
- Peers 2.88
- Dividend yield
- 0.00%
- ROE
- 12.8%
- Peers 11.1%
- ROCE
- 18.5%
- Peers 10.4%
- Debt to equity
- 0.65
- Debt ₹100 Cr
- EPS (TTM)
- ₹11.31
- Face value ₹10
- OPM (TTM)
- 17.5%
- Net margin 19.5%
- Sales growth
- −17.4%
- Latest quarter vs a year ago
- Profit growth
- −3.9%
- Latest quarter vs a year ago
- Price to sales
- 5.09
- EV/EBITDA 35.3
Strengths and risks
Risks to check
- Quarterly sales down 17.4% on a year ago.
- Interest coverage of only 1.1×.
About Pansari Developers
Pansari Developers Limited operates as a construction and real estate development company in India. The company constructs and develops residential and commercial properties; and sells residential units and land, as well as engages in the leasing and maintenance of properties. Pansari Developers Limited was incorporated in 1996 and is based in Kolkata, India.
- Headquarters
- Kolkata
- Employees
- 33
- Sector
- Real Estate
- ISIN
- INE697V01011
- Website
- pansaridevelopers.com
Price range
- Avg volume (3M)
- 707
- 1-year return
- plus 4.2%
- From 52-week high
- minus 29.0%
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% |
| PANSARIPansari Developers | 276.00 | plus 0.33% | 482 | 24.4 | – | – | −6.6% | 0.65 | – | plus 4.2% |
| 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 | Mar 25 | Jun 25 | Dec 25 | Mar 26 | Jun 26 |
|---|---|---|---|---|---|
| 18.7 | 17.7 | 37.2 | 13.6 | 14.6 | |
| – | – | – | minus 27.3% | minus 17.4% | |
| 11.9 | 12.1 | 31.8 | 13.9 | 10.9 | |
| 6.7 | 5.6 | 5.5 | −0.3 | 3.8 | |
| 36.1% | 31.8% | 14.7% | −2.3% | 25.9% | |
| 2.3 | 1.2 | 1.5 | 13.4 | 2.5 | |
| 1.5 | 0.8 | 0.7 | 2.4 | 0.5 | |
| 0.2 | 0.7 | 0.6 | 0.6 | 0.5 | |
| 7.4 | 5.2 | 5.7 | 10.1 | 5.2 | |
| 26.8% | 21.0% | 26.0% | 18.4% | 23.6% | |
| 5.4 | 4.1 | 4.2 | 8.3 | 4 | |
| – | – | – | +53.1% | minus 3.9% | |
| 3.09 | 2.37 | 2.43 | 4.73 | 2.28 |
Profit & loss
- Sales CAGR 3Y
- +53.4%
- Profit CAGR 3Y
- +109.3%
- EPS CAGR 3Y
- +109.5%
- ROE
- 12.8%
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 22.8 | 47.7 | 30.2 | 82.3 | |
| – | +109.4% | minus 36.7% | +172.6% | |
| 18.2 | 48.1 | 27.2 | 77.3 | |
| 4.6 | −0.4 | 3 | 5 | |
| 20.1% | −0.8% | 10.0% | 6.1% | |
| 0.6 | 12.7 | 14.3 | 16.5 | |
| 0.7 | 4.4 | 4.2 | 4.6 | |
| 1.9 | 1.9 | 3.2 | 3.9 | |
| 0.1 | 0.1 | 0.2 | 11.6 | |
| 2.7 | 6.2 | 10 | 24.6 | |
| 26.0% | 15.9% | 25.3% | 25.0% | |
| 2 | 5.2 | 7.5 | 18.5 | |
| – | +159.0% | +44.0% | +146.1% | |
| 1.15 | 2.98 | 4.30 | 10.58 |
Forecast
Balance sheet
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 17.4 | 17.4 | 17.4 | 17.4 | |
| 104 | 109 | 117 | 137 | |
| 81.5 | 86.1 | 101 | 100 | |
| 83.8 | 114 | 175 | 230 | |
| 287 | 327 | 411 | 484 | |
| 46.8 | 62.4 | 65.2 | 65.9 | |
| 5.2 | 2 | 5.9 | 5.9 | |
| 8.7 | 8.5 | 8.5 | 12.7 | |
| 0.8 | 2.6 | 2.2 | 3 | |
| 225 | 251 | 329 | 397 | |
| 287 | 327 | 411 | 484 |
Cash flow
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| −21.6 | 11.2 | −16.4 | −8.9 | |
| −5.2 | −9.6 | 5.4 | 14.9 | |
| 26.5 | 0.2 | 10.6 | −5.2 | |
| −0.3 | 1.8 | −0.4 | 0.8 | |
| −1.3 | −11.6 | −2.3 | – | |
| −22.9 | −0.4 | −16.4 | −8.9 |
Shareholding pattern
- Promoters73.88%
- Public26.12%
| Quarter | Split | Promoters | Public | Promoter change |
|---|---|---|---|---|
| 30 Sep 2026 | 73.88% | 26.12% | 0.00 | |
| 30 Jun 2026 | 73.88% | 26.12% | 0.00 | |
| 31 Mar 2026 | 73.88% | 26.12% | 0.00 | |
| 31 Dec 2025 | 73.88% | 26.12% | 0.00 | |
| 30 Sep 2025 | 73.88% | 26.12% | – |
Major shareholders
Filings & events
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