Shraddha Prime Projects Books ₹60 Crore on Launch of Pandora Project in Mumbai

Key numbers

Market Cap	₹642.98 CrSmall Cap
TTM P/E	10.01Sector: 33.81
Promoter Holding	74.78%23.17% Pledged
1-Year Return	-11.58%Realty Sector
Deal value	₹60 Cr
Share of market cap	9.3%
Share of annual revenue	10.3%

Key highlights

• Recorded ₹60 crore in aggregate booking value on the project launch day
• Booked 110 units out of a total inventory of 471 units in the development
• Estimated total revenue potential for the project stands at approximately ₹220 crore
• The 22-storey development features a mix of 1 RK, studio apartments, and commercial spaces
• Day-one booking value accounts for 10.3% of the company's trailing twelve-month revenue

Pandora Project Launch and Market Entry

The newly launched Pandora by Shraddha is a 22-storey mixed-use development situated in the established residential micro-market of Nahur West, Mumbai. The project is designed to address the high demand for compact housing, offering 1 RK and studio apartments alongside integrated commercial spaces. By securing 110 bookings on the launch day, the company has already monetized roughly 23% of the project's total inventory.

This launch follows a period of significant growth for the developer, whose annual operating revenue surged by 225% to ₹508.35 crore in the last fiscal year, supported by a focused execution strategy in Mumbai's suburban regions.

Strategic Expansion and Development Pipeline

• The company manages a diversified pipeline of 17 projects, consisting of 9 ongoing and 8 upcoming developments as of August 2026.
• Earlier in April 2026, the firm announced the ₹450 crore Shraddha Paradise Enclave redevelopment in Mulund West.
• In February 2026, it secured the New Adarsh Villa CHS redevelopment project in Mulund West valued at ₹118 crore.
• A ₹150 crore SRA redevelopment project, Shraddha Phoenix, was launched in Mulund East in April 2026.
• In November 2025, the company acquired development rights for land parcels across Borivali and Dadar valued at ₹1,200 crore.

Execution Focus and Quality Delivery

We are happy with the response Pandora by Shraddha has received on its launch day. The booking of 110 units is an encouraging start and reflects the interest homebuyers have shown in the project. We have always believed in developing homes that meet the needs of customers, while offering good design and quality at the right value.

Financial Performance and Valuation Context

Shraddha Prime Projects currently trades at a price-to-earnings ratio of 10.01, which is significantly lower than the industry average of 33.91. While the company recorded a quarter-on-quarter revenue decline of 28.3% in June 2026, its year-on-year revenue growth remains robust at 127.57%. Net profits for the same period increased by 118.13% year-on-year to reach ₹19.3 crore.

With a high promoter holding of 74.78%, the company is positioning itself as a major player in Mumbai's redevelopment and affordable luxury segments, leveraging a strong pipeline to sustain its momentum in the competitive Realty sector.

What to watch next

• Rights issue record date on 15 October 2026 to raise ₹96.96 crore at ₹160 per share
• Declaration of Q2 FY27 financial results following the trading window closure on 1 October 2026
• Update on construction milestones for the 22-storey Pandora tower in Nahur West

“Pandora is an important addition to our portfolio in Mumbai. We will now focus on taking the project forward with the same emphasis on construction quality and timely execution. Our aim is to deliver a good home-buying experience for our customers while continuing to grow our presence across Mumbai.”

Shraddha Prime Projects · financial snapshot

Share price	₹159.15
Market capitalisation	₹642.98 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)	10.01×Sector 33.81×
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.