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    Real estate development
Ratnabhumi Developers Ltd.

Ratnabhumi Developers Ltd.

BBSE:RATNABHUMI
170.00
INR
-5.00
(-2.86%)
0.87EPS
259.32P/E
3.16BMarket Cap
Ratnabhumi Developers Ltd.
BSE:RATNABHUMI
(Bombay Stock Exchange)

Recent

price

170.00

P/E

ratio

259.32

div

yld

- -

ROIC.AI

2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
TTM
INR
4.23
3.69
4.19
4.48
6.72
0.27
0.83
0.7
2.94
0.12
0.14
0.16
154.52
43.27
34.07
Revenue per Share
0.88
0.23
0.8
1.16
0.97
0.15
0.24
0.26
0.6
0.12
0.17
0.19
4.18
2.29
0.89
Basic EPS, GAAP
-0.09
0.72
4.39
-0.52
1.65
-3.96
0.98
-1.62
2.41
-46.79
-45.38
-36.89
65.53
-0.81
- -
Free Cash Flow per Basic Share
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Dividend per Share
4.24
4.47
5.26
6.42
7.38
24.15
24.4
24.66
25.26
25.38
25.55
25.65
29.83
32.12
- -
Book Value per Share
4.24
4.47
5.26
6.42
7.38
24.15
24.4
24.66
25.26
25.38
25.55
25.65
29.83
32.12
- -
Tangible Book Value per Share
14
14
14
14
14
14
14
14
14
14
14
14
14
14
14
Basic Weighted Avg Shares
58
50
57
61
92
4
12
10
40
2
2
2
2,117
593
466
Sales/Revenue/Turnover
34.78
22.35
5.87
16.05
19.38
1.74
-17.39
59.76
23.44
1,421.07
3,430.06
6,701.54
8.92
27.11
39.44
Operating Margin (%)
- -
1
1
1
- -
- -
- -
- -
- -
- -
1
8
10
8
8
Depreciation Expense
12
3
11
16
13
2
3
4
8
2
2
3
57
31
12
Net Income, GAAP
18.95
60.3
24.99
27.81
32.27
23.82
23.1
34.41
24.68
- -
- -
- -
24.46
26.18
28.78
Effective Tax Rate (%)
20.82
6.18
18.99
25.87
14.44
55.8
28.75
37.13
20.24
106.04
117.77
119.98
2.71
5.3
2.61
Profit Margin (%)
121
139
62
89
134
345
64
64
39
751
1,384
1,997
1,332
1,338
- -
Working Capital
155
82
34
48
32
12
2
5
6
416
1,091
1,865
1,165
1,092
- -
LT Debt
58
61
72
88
101
331
334
338
346
348
350
351
409
440
- -
Total Equity
- -
1.69
6.63
12.21
10.12
0.02
-0.59
1.12
2.05
- -
- -
- -
7.27
7.37
- -
Return on Invested Capital (%)
- -
5.14
12.25
14.52
11.86
2.19
1.26
1.12
2.41
- -
- -
- -
8.61
7.44
- -
Return on Capital (%)
- -
5.23
16.36
19.83
14.06
0.95
1
1.07
2.39
0.49
0.67
0.76
15.09
7.41
- -
Return on Common Equity (%)

Capital Structure

INR

•

in mil. unless spec.
Dec'26
Mar'26
Jun'27
ST Debt
- -
112
- -
LT Borrowings
- -
1,072
- -
LT Finance Leases
- -
20
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
14
14
14
Market Capitalization
3,193
3,288
3,156

Working Capital

INR

•

in mil. unless spec.
Dec'26
Mar'26
Jun'27
Total Current Assets
- -
1,749
- -
Cash, Cash Equivalents & STI
- -
43
- -
Accounts Receivable, Net
- -
1
- -
Inventories
- -
1,690
- -
Total Current Liabilities
- -
410
- -
Payables & Accruals
- -
- -
- -
ST Debt
- -
112
- -
Deferred Revenue
- -
- -
- -

Growth Rates

INR

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
27.23%
5.11%
7.69%
Free Cash Flow
-383.88%
-489.02%
-101.24%
Net Income, GAAP
208.92%
398.52%
-45.16%
Sales/Revenue/Turnover
9,615.47%
19,137.01%
-71.99%
Total Cash Common Dividend
- -
- -
- -

Quarterly Revenue

INR

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2025
519
805
465
346
2,117
2026
285
101
79
149
593
2027
136
- -
- -
- -
- -

Quarterly Earnings Per Share

INR

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2025
1.46
0.38
0.43
1.92
4.18
2026
1.46
0.18
0.45
0.21
2.29
2027
0.05
- -
- -
- -
- -

Quarterly Dividends Per Share

INR

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2025
- -
- -
- -
- -
- -
2026
- -
- -
- -
- -
- -
2027
- -
- -
- -
- -
- -
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Business
Ratnabhumi Developers Limited is a real estate development company engaged in the acquisition of land, construction, and development of residential, commercial, retail, and industrial properties primarily in Ahmedabad, India. The company offers comprehensive services including land acquisition; authority liaisoning; planned development; construction and maintenance of buildings and infrastructures; and rental services. It operates under the brand Turquoise for its mixed-development projects and has completed 22 projects to date, with ongoing execution of three mixed-use projects—Turquoise Greenz, Turquoise Grandeure, and Turquoise Dreamz—comprising around 1.16 million square feet of saleable area. Founded in 2006 and headquartered in Ahmedabad, Gujarat, Ratnabhumi Developers serves a primarily domestic market within India. In recent developments, the company completed the acquisition of Ratnabhumi Techno Engg Private Limited in April 2023, enhancing its technical capabilities. It also raised fresh capital through an IPO in late 2025 aimed at funding land acquisitions and strategic initiatives, including a 45% stake in Rajul Projects LLP for the Ratna Artemus II project located in Paldi, Ahmedabad, which involves the construction of a commercial property spanning 48,000 square feet. These moves signal the company’s strategic expansion in both landholdings and project diversification. Ratnabhumi Developers continues to focus on timely project completion to maintain financial flexibility and mitigate saleability risks for its properties.