| GDV Pipeline | ₹250 CrProject Value |
|---|---|
| Market Cap | ₹676 CrRealty Sector |
| Revenue Growth | 149.1%Annual YoY |
| RSI | 39.7Neutral Zone |
| Order from | Neel Kiran Co-operative Housing Society Ltd. |
| Deal value | ₹250 Cr |
| Share of market cap | 37.0% |
| Share of annual revenue | 132.1% |
Key highlights
- Mandate awarded for the redevelopment of Neel Kiran CHSL located in the prime Khar West micro-market
- The project is expected to contribute approximately ₹250 crore in Gross Development Value (GDV)
- Selection followed a competitive redevelopment selection process conducted by the society members
- Project adds to the company's growing urban renewal portfolio across Mumbai's western suburbs
- Development is subject to definitive documentation and requisite approvals from relevant authorities
Project Scope and Financial Significance
Modis Navnirman Limited has been selected as the preferred redevelopment partner for Neel Kiran Co-operative Housing Society Ltd., a landmark residential complex in Khar West. The project is estimated to have a Gross Development Value of 250 crore, significantly bolstering the company's revenue visibility. This appointment followed a rigorous selection process where society members evaluated various developers before awarding the mandate.
The redevelopment aims to replace existing structures with modern residential infrastructure, featuring enhanced amenities and contemporary living spaces, while unlocking the intrinsic value of the premium land parcel.
Strategic Impact on Mumbai Portfolio
This mandate marks MNL's entry into the high-demand Khar West residential market, known for its established social infrastructure and consistent homebuyer interest. By securing this project, the company strengthens its footprint in Mumbai's western suburbs, specifically targeting the premium redevelopment segment. The project aligns with MNL's core strategy of focused urban renewal, where it seeks to transform aging societies into high-value assets.
This addition to the GDV pipeline provides a clear roadmap for growth in the coming years, complementing its existing portfolio of redevelopment projects across the Mumbai Metropolitan Region.
Financial Performance and Market Position
- The company reported an annual operating revenue of 189.31 crore, reflecting a substantial year-on-year growth of 149.11 percent
- Net profit for the trailing twelve months stands at 29.22 crore, with an annual Return on Equity of 18.64 percent
- Modis Navnirman maintains a healthy promoter holding of 63.79 percent, indicating strong internal confidence in the company's growth trajectory
- The stock currently trades at a price-to-earnings ratio of 23.14, which is notably lower than the sector average PE of 34.98
Management Perspective on Redevelopment
Redevelopment is ultimately a partnership built on transparency, commitment and shared vision, and we recognize the responsibility that comes with being entrusted to transform a society's future.
| Share price | ₹345.05 |
|---|---|
| Market capitalisation | ₹675.99 Cr |
| Revenue (annual) | ₹189.31 Cr |
| Net profit (annual) | ₹29.22 Cr |
| Revenue (latest quarter) | ₹51.49 Cr-5.41% vs previous quarter |
| Net profit (latest quarter) | ₹4.45 Cr-65.17% vs previous quarter |
| P/E (TTM) | 23.14×Sector 34.98× |
| Promoter holding | 63.79%0.00% QoQ |
| FII holding | 8.82%Current quarter |
Reference market data from a third-party provider, as of the story. Not a valuation or a recommendation.
Exchange filing by Modis Navnirman Limited announcing the securing of a redevelopment mandate in Khar West, Mumbai. Market figures from a third-party data provider.
