Shraddha Prime Projects Launches ₹120 Crore Param Adarsh Project in Mulund West

Key numbers

Project GDV	₹120 CrEstimated Value
Market Cap	₹662.78 CrRealty Sector
P/E Ratio	10.32Sector: 33.99
1-Year Return	-8.86%Price Performance
Deal value	₹120 Cr
Share of market cap	18.1%
Share of annual revenue	20.6%

Key highlights

• Param Adarsh is a 21-storey residential development situated directly opposite Mulund West railway station
• The project carries an estimated Gross Development Value (GDV) of approximately ₹120 crore
• Estimated project value represents 20.6% of the company's trailing twelve-month revenue of ₹583.23 crore
• The launch follows the October 12, 2026, introduction of the ₹220 crore 'Pandora by Shraddha' project in Nahur West
• Company promoters maintain a high equity stake of 74.78% as of the latest quarterly reporting period

Strategic Residential Launch in Mulund West

Shraddha Prime Projects has strategically positioned Param Adarsh directly opposite the Mulund West railway station, emphasizing connectivity as a primary value proposition for homebuyers. The 21-storey development is designed to strengthen the company's presence in a key residential micro-market within Mumbai. With an estimated GDV of ₹120 crore, the project represents a substantial portion of the company's current market capitalization, illustrating a focused approach toward high-density urban developments.

This launch aligns with the company's broader objective of delivering diverse housing solutions ranging from affordable to premium dwellings across established Mumbai neighbourhoods.

Expanding Development Pipeline

• October 12, 2026: Launched 'Pandora by Shraddha' in Nahur West with a project value of ₹220 crore
• August 13, 2026: Announced the upcoming launch of 'Avyukta Imperial' in Matunga East
• April 15, 2026: Received Commencement Certificate for the ₹450 crore 'Shraddha Paradise Enclave' in Mulund West
• April 09, 2026: Initiated 'Shraddha Phoenix', an SRA redevelopment project in Mulund East valued at ₹150 crore
• February 16, 2026: Executed a redevelopment agreement for 'New Adarsh Villa CHS' worth ₹118 crore
• The company reported a 127.6% year-on-year revenue growth in Q1 FY27, reaching ₹133.58 crore

Management on Connectivity and Growth

Mulund has been an important market for us, and Param Adarsh gives us an opportunity to strengthen our presence in the area. Its location, right opposite Mulund West railway station, is a key advantage for residents looking for convenient connectivity within Mumbai.

Financial Position and Operational Outlook

The company’s financial performance remains robust with a net profit of ₹19.3 crore in the latest quarter, representing a 118.1% increase year-on-year. Shraddha Prime Projects is currently trading at a P/E ratio of 10.32, which is lower than the sector average of 33.99. To support its ongoing expansion and development pipeline, the company has scheduled a ₹96.96 crore rights issue with a record date of October 15, 2026.

This capital infusion, combined with the launch of high-GDV projects like Param Adarsh, underscores a period of aggressive execution and scaling within the Mumbai real estate sector.

What to watch next

• Record date for the ₹96.96 crore rights issue on October 15, 2026
• Declaration of Q2 FY27 unaudited financial results following the trading window closure
• Construction milestones and sales velocity updates for the newly launched Param Adarsh project

“With an estimated GDV of approx. ₹120 crore, the project adds to our development pipeline as we continue to expand our presence across established Mumbai neighbourhoods. Our focus will remain on quality construction, efficient execution and delivering homes that meet the needs of today’s homebuyers.”

Shraddha Prime Projects · financial snapshot

Share price	₹164.05
Market capitalisation	₹662.78 Cr
Revenue (annual)	₹508.35 Cr
Net profit (annual)	₹53.86 Cr
Revenue (latest quarter)	₹133.58 Cr-28.30% vs previous quarter
Net profit (latest quarter)	₹19.30 Cr-16.58% vs previous quarter
P/E (TTM)	10.32×Sector 33.99×
Promoter holding	74.78%0.00% QoQ
FII holding	0%Current quarter

Reference market data from a third-party provider, as of the story. Not a valuation or a recommendation.