Pranav Constructions IPO
Bookbuilding IPO | ₹351.00 Cr | Listing at BSE, NSE
Closed
IPO Open
Mon, Sep 07, 2026
IPO Close
Wed, Sep 09, 2026
Price Band
₹118.00 to ₹124.00
Market Cap (Pre-IPO)
₹1,396.52 Cr
IPO Details
| IPO Date | Sep 07, 2026 to Sep 09, 2026 |
| Listing Date | Tentative: Sep 15, 2026 |
| Face Value | ₹10.00 per share |
| Price Band | ₹118.00 to ₹124.00 |
| Lot Size | 120 Shares (Minimum: ₹14,880.00) |
| Sale Type | Offer For Sale + Fresh Issue |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Issue Size | ₹351.00 Crores |
| Total Shares Offered | 28,308,481 shares |
| Fresh Issue | 25,451,612 shares |
| Offer For Sale | 2,856,869 shares |
Pranav Constructions IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not less than 40% of the Offer |
| Retail Shares Offered | Not more than 45% of the Offer |
| NII Shares Offered | Not more than 15% of the Offer |
Pranav Constructions IPO Lot Size
Investors can bid for a minimum of 120 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 120 | ₹14,880 |
| Retail (Max) | 13 | 1,560 | ₹193,440 |
| S-HNI (Min) | 14 | 1,680 | ₹208,320 |
| S-HNI (Max) | 67 | 8,040 | ₹996,960 |
| B-HNI (Min) | 68 | 8,160 | ₹1,011,840 |
Pranav Constructions Financial Information (Restated Consolidated)
Pranav Constructions Ltd.'s revenue increased by 20% and profit after tax (PAT) rose by 15% between the financial year ending with March 31, 2026 and March 31, 2025.
| Period Ended | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Assets | 1,799.19 | 1,246.29 | 966.80 |
| Total Income | 763.93 | 638.24 | 449.75 |
| Profit After Tax | 71.32 | 62.25 | 39.62 |
| EBITDA | 130.83 | 98.54 | 59.73 |
| NET Worth | 246.70 | 175.59 | 88.37 |
| Reserves and Surplus | 159.52 | 88.41 | 84.70 |
| Total Borrowing | 258.44 | 196.50 | 99.34 |
Amount in ₹ Cr
Key Performance Indicators
As of Monday, March 31, 2025| KPI | Values |
|---|---|
| ROE (Return on Equity) | 47.17% |
| ROCE (Return on Capital Employed) | 24.83% |
| Debt/Equity | 1.15 |
| RoNW (Return on Net Worth) | 47.17% |
| PAT Margin (Profit After Tax Margin) | 9.78% |
| EBITDA Margin | 15.49% |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS Rs | 8.18 | 6.33 |
| P/E (x) | 15.16 | 19.59 |
Company Overview
Pranav Constructions Ltd. – Company Overview
- Pranav Constructions Ltd. is a real estate development company primarily focused on redevelopment projects in the Municipal Corporation of Greater Mumbai (MCGM) Region, with a strong presence in Mumbai's Western Suburbs.
- The company specialises in pure-play redevelopment across residential segments, including:
- The company was originally incorporated as Pranav Constructions Private Limited and was converted into a public limited company in July 2024.
- The company follows an integrated redevelopment model, with in-house capabilities covering tendering, pre-construction, construction, and post-construction activities.
- Its business model involves entering into redevelopment agreements with co-operative housing societies, supporting a relatively capital-efficient approach to project development.
- Pranav Constructions has been undertaking redevelopment projects since 2012 and has established a strong presence in Mumbai's Western Suburbs.
- As of March 31, 2026, the company had 198 permanent employees, including whole-time directors, across construction management, sales, customer relationship management, architecture, legal and compliance, finance, administration, and human resources.
Company Strengths
- Track record of consistent financial performance.
- Capital-efficient business model with high barriers to entry.
- Established customer-centric brand with strong stakeholder management.
- Demonstrated project execution capabilities supported by in-house functional expertise.
- Experienced Promoters and professional senior management with corporate governance practices.
- Among the leading real estate companies in Mumbai's Western Suburbs with a demonstrated growth and strong project pipeline.
Use of Proceeds
| 1) | Funding costs towards obtaining government and statutory approvals and purchase of additional FSI and cost towards Compensation to members towards alternate accommodation, and hardship compensation, in relation to the development of certain of the Under-construction Redevelopment Projects, and certain of the Upcoming Redevelopment Projects (Funding Redevelopment Expenses | 145.72 |
| 2) | Repayment and/ or pre-payment, in full or part, of certain borrowings availed by the Company | 91.50 |
| 3) | Funding acquisition of future redevelopment projects and general corporate purposes. | |
| Total | 237.22 |
Objectives
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
Pranav Constructions IPO Peer Comparison
Pranav Constructions peer comparison with similar listed entities. (As on March 31, 2026)| Company Name | EPS (Basic) | EPS (Diluted) | NAV (per share) (Rs) | P/E (x) | RoNW (%) | P/BV Ratio | Financial statements |
|---|---|---|---|---|---|---|---|
| Pranav Constructions Limited | 8.18 | 8.18 | 28.30 | - | 33.78 | - | Consolidated |
| Keystone Realtors Ltd | 6.25 | 6.21 | 229.29 | 64.86 | 3.34 | 1.76 | Consolidated |
| Godrej Properties Ltd | 61.43 | 61.42 | 642.58 | 33.25 | 9.97 | 3.18 | Consolidated |
| Lodha Developers Ltd | 34.34 | 34.25 | 234.55 | 33.48 | 15.71 | 4.90 | Consolidated |
| Suraj Estate Developers Ltd | 19.51 | 19.51 | 207.87 | 9.94 | 9.53 | 0.93 | Consolidated |
| Kolte-patil Developers Ltd | -4.51 | -4.51 | 135.84 | - | -3.73 | 2.87 | Consolidated |
| Arkade Developers Ltd | 0.29 | 0.29 | 47.51 | 482.59 | 0.60 | 2.96 | Consolidated |
| Kalpataru Ltd | 4.76 | 4.76 | 198.04 | 56.64 | 2.45 | 1.36 | Consolidated |
Quick Info
| Sector | real estate and construction |
| Exchange | BSE, NSE |
| Market Cap (Pre-IPO) | ₹1,396.52 Cr |
Important Dates
| IPO Open | Sep 07, 2026 |
| IPO Close | Sep 09, 2026 |
| Allotment Date | Sep 10, 2026 |
| Credit to Demat | Sep 11, 2026 |
| Listing Date | Tentative: Sep 15, 2026 |
Lead Manager(s)
Centrum Capital Ltd.
Registrar
Description
- IPO Type: Book build issue aggregating to ₹351.03 crores.
- Issue Structure: A combination of fresh issue of 2.55 crore shares aggregating to ₹315.60 crores and offer for sale of 28.57 lakh shares aggregating to ₹35.43 crores.
- IPO Dates: The issue opens on September 7, 2026 and closes on September 9, 2026.
- Allotment Date: The allotment is expected to be finalized on September 10, 2026.
- Listing Details: The shares are proposed to be listed on both NSE and BSE on September 15, 2026.
- Retail Investment Requirement: Minimum 1 lot (120 shares) amounting to approximately ₹14,880 (at the upper price band).
- Issue Price Band: ₹118 to ₹124 per equity share.
- Lot Size: 120 shares per lot.
This IPO offers investors an opportunity to participate in the construction sector through a combination of a fresh issue of shares and an offer for sale by existing shareholders.