B-Right RealestateShare price, financial results, shareholding and management
- Market cap
- ₹878 cr
- Stock P/E
- 19.3peers 13.0
- Book value
- ₹170
- Price to book
- 4.99
- EV / operating profit
- -
- Market cap to sales
- 5.23
- ROCE · FY26
- 22.7%
- ROE · FY26
- 28.8%
- ROE, 3-year average
- 11.9%
- Operating margin · FY26
- 39.0%peers 15.9%
- Sales growth, 3 years
- 113.6%
- Profit growth, 3 years
- 147.7%
- Debt to equity
- 1.06peers 0.12
- Borrowings
- ₹187 cr
- Interest cover
- 9.4×
- Cash from business / op. profit
- 15%
- Debtor days
- 126
- Pledged
- 0.00%
- Promoter holding
- 73.15%
- Change in promoter holding
- 0.00 pts
- Shareholders
- 1,192
- 52-week high / low
- ₹1,011 / ₹351
- Dividend yield
- 0.00%
- Face value
- ₹10
Tap or hover on any figure for what it means. Our arithmetic on reported figures, at the latest close.
B-Right Realestate share price chart
Close on 6 Nov 2026 · -2.63% on the day · Vol 3,400
Daily prices to 6 Nov 2026, adjusted for splits and bonuses. Closing prices only: check the exchange for the live price.
Share price returns
To the close of 6 Nov 2026
- 1 month
- -8.7%
- 3 months
- -3.4%
- 6 months
- -11.5%
- 1 year
- +132.9%
- Traded a day, 20 days
- ₹0.22 cr
Business growth
Sales and net profit, from the reported results
| Sales | Profit | |
|---|---|---|
| FY26 on FY25 | +63% | +1040% |
| 3 years, a year | +114% | +148% |
| Latest half, H2 FY26 | +80% | +670% |
About B-Right Realestate: business, products and customers
B-Right Realestate rebuilds old housing societies and slum areas in Mumbai into new towers, rehousing the existing residents and selling the extra flats to home buyers. Its shares trade on BSE SME.
B-Right Realestate earns most of its money from flats it builds in Mumbai and offers to home buyers. It works in three ways: redeveloping old cooperative housing societies, rebuilding slum areas under the Slum Rehabilitation Authority (SRA) scheme, and reviving stalled projects.
Existing residents get new homes in the rebuilt towers, and the company offers the remaining flats on the open market. Much of the work runs through a group of project companies, partnerships and joint ventures, so part of the profit belongs to partners.
Read more about the business
At March 2026 the company had 11 ongoing projects and 18 in the pipeline, spread across Mumbai suburbs such as Malad, Jogeshwari, Andheri and Goregaon. The largest is Ambika Nagar, an SRA project in Jogeshwari East where about 95% of the flats for sale were already booked.
From the prospectus, the May 2026 investor presentation and the annual report for 2025 to 26.
Read the deeper study ↓In its favour
- Sales have grown very fast: 114% a year over three years.
- It earns a high return on the money it uses: ROCE 23% in FY26.
- The promoters own a large part of the company: 73.15%.
To watch
- Completion of Nirvana in Malad East, which the company expects in February 2027 (Annual report 2025 to 26, p.14).
- Building progress at Ambika Nagar, which holds ₹867 cr of revenue still to be recognised (Investor presentation, May 2026, p.11).
- Collections from buyers, ₹124.2 cr in FY26 against pre-sales of ₹286.4 cr (Annual report 2025 to 26, p.17).
- Debt of ₹187.3 cr at March 2026 (Investor presentation, May 2026, p.16 to 17).
- Customers take longer to pay than before: 126 days in FY26, against 5 in FY22.
From the company's documents first, then the reported figures read by fixed rules, the same for every company. Facts, not a view on the shares.
B-Right Realestate revenue and profit growth
Half-yearly results · Profit and lossSales have grown very fast. Last year profit grew faster than sales, so the company kept more from each rupee of sales.
SME companies report every six months. In the latest half, sales were higher than in the same half a year before. Profit grew faster than sales.
B-Right Realestate half-yearly results
SME companies report every six months · ₹ crore
| H1FY23 | H2FY23 | H1FY24 | H2FY24 | H1FY25 | H2FY25 | H1FY26 | H2FY26 | |
|---|---|---|---|---|---|---|---|---|
| Sales | 9.90 | 7.32 | 18.79 | 22.11 | 41 | 62.80 | 54.50 | 113.29 |
| Expenses | 6.84 | 6.56 | 14.77 | 16.31 | 34 | 55.86 | 35.52 | 66.64 |
| Operating profit | 3.06 | 0.75 | 4.02 | 5.79 | 6 | 6.94 | 18.98 | 46.66 |
| OPM | 30.9% | 10.3% | 21.4% | 26.2% | 15.0% | 11.1% | 34.8% | 41.2% |
| Interest | 0.30 | 0.55 | 0.34 | 0.87 | 1 | 1.27 | 1.34 | 5.54 |
| Depreciation | 0.31 | 0.38 | 0.56 | 0.80 | 1 | 0.66 | 0.45 | 1.33 |
| Profit before tax | 3.44 | 0.88 | 3.86 | 4.78 | 3 | 5.66 | 18.84 | 40.26 |
| Net profit | 2.32 | 0.68 | 2.52 | 2.81 | 0 | 4.34 | 12.16 | 33.42 |
B-Right Realestate profit and loss
Full years to March, FY22 to FY26 · ₹ crore, consolidated where reported
| FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|
| Sales | 1 | 17.22 | 40.90 | 103 | 167.79 |
| Expenses | 1 | 13.40 | 31.08 | 90 | 101.79 |
| Operating profit | 1 | 3.82 | 9.82 | 13 | 66 |
| OPM | 46.0% | 22.2% | 24.0% | 13.0% | 39.0% |
| Other income | 2 | 2.04 | 1.38 | -1 | 2.13 |
| Interest | 0 | 0.86 | 1.21 | 2 | 7 |
| Depreciation | 1 | 0.69 | 1.35 | 1 | 2 |
| Exceptional and other items | -1 | · | · | -1 | · |
| Profit before tax | 1 | 4.32 | 8.64 | 8 | 59.10 |
| Tax rate | 0.0% | 30.6% | 38.4% | 50.0% | 22.9% |
| Net profit | 1 | 3 | 5.32 | 4 | 45.59 |
| EPS ₹ | 12.92 | 2 | 2.35 | 1.64 | 34.02 |
| Dividend payout | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
The years to FY25 come rounded to the nearest crore in the source.
Exceptional and other items: profit before tax beyond operating profit, other income, interest and depreciation, such as one-off items or a share of associates' profit, as reported.
Earnings per share before FY26 is on the share count of that time, before later bonus or share issues, so it does not compare with the years after.
B-Right Realestate profitability
Margins and returns on capitalLast year the company kept more from each rupee of sales than the year before. It earns a high return on the money it uses.
Operating margin, every year
Per cent of sales kept before interest, depreciation and tax
| FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|
| Operating margin | 46.0% | 22.2% | 24.0% | 13.0% | 39.0% |
| Tax rate | 0.0% | 30.6% | 38.4% | 50.0% | 22.9% |
| ROCE | · | 3.6% | 4.2% | 3.9% | 22.7% |
| ROE | · | 2.6% | 3.9% | 2.9% | 28.8% |
| Dividend payout | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
B-Right Realestate debt and cash flow
Balance sheet · Cash flow · Working capitalThe company's own money, its net worth, has grown fast. It borrowed much more last year. Its loans are now larger than its own money. Last year the business brought in less cash than it showed as profit, so part of the profit is still to be collected. It spent more on assets and investments than the business brought in, and raised the rest from loans or shares. Customers take longer to pay than they did in FY24, which ties up more of the company's money in unpaid bills.
Bars below the line are cash going out.
B-Right Realestate balance sheet
At each 31 March · ₹ crore
| FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|
| Equity capital | 0.93 | 10 | 10 | 10 | 10 |
| Reserves | 90 | 127 | 129 | 131 | 166 |
| Net worth | 90.93 | 137 | 139 | 141 | 176 |
| Borrowings | 17 | 39 | 154 | 78 | 187 |
| Other liabilities | 51.07 | 81 | 152 | 113 | 128 |
| Total liabilities | 159 | 257 | 445 | 332 | 491 |
| Fixed assets | 23 | 24 | 43 | 30 | 18 |
| Capital work in progress | 0 | 0 | 0 | 0 | 0 |
| Investments | 7 | 30 | 15 | 16 | 67 |
| Other assets | 129 | 203 | 387 | 286 | 406 |
B-Right Realestate cash flow
₹ crore
| FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|
| Cash from operations | 4 | 35 | -44 | -21 | 10 |
| Cash from investing | -6 | -78 | 9 | 20 | -87 |
| Cash from financing | 2 | 45 | 35 | -3 | 82 |
| Net cash flow | 0 | 2 | 0 | -4 | 5 |
Working capital
Days
| FY22 | FY23 | FY24 | FY25 | FY26 | |
|---|---|---|---|---|---|
| Debtor days | 5 | 0 | 0 | 121 | 126 |
| Inventory days | · | · | · | 903 | · |
| Days payable | · | · | · | 145 | · |
| Cash conversion cycle | 5 | 0 | 0 | 879 | 126 |
| Working capital days | 14,773 | 549 | 662 | 354 | 314 |
B-Right Realestate peers and competitors
Listed SME companies in the same industryBy sales, B-Right Realestate is number 2 of the 18 listed SME companies in realty.
Each company's latest full year and its latest close; companies the exchange puts in the same industry, whose businesses can differ a good deal. A list, not a comparison of their shares.
| Company | Market cap ₹ cr | P/E | Sales ₹ cr | Profit ₹ cr | Op. margin | Debt/equity |
|---|---|---|---|---|---|---|
| Kesar India | 3,307 | 110.2 | 176 | 30 | 24.0% | 0.18 |
| B-Right Realestate | 878 | 19.3 | 168 | 45.6 | 39.0% | 1.06 |
| Mason Infratech | 239 | 10.9 | 131 | 22 | 26.0% | 0.68 |
| Active Infrastructures | 259 | 25.3 | 96.6 | 10.2 | 16.6% | 0.67 |
| Justo Realfintech | 149 | 7.8 | 92 | 19 | 30.0% | 0.12 |
| V R Infraspace | 85 | 10.8 | 74.4 | 7.9 | 15.1% | 0.79 |
| P. E. Analytics | 203 | 13.0 | 46.8 | 15.7 | 30.9% | 0.00 |
| Shantidoot Infra Services | 106 | 73.7 | 45 | 1.4 | 9.0% | - |
| Homesfy Realty | 43 | - | 40.3 | -20.5 | -49.8% | 0.00 |
| SBL Infratech | 4 | 23.8 | 36.1 | 0.2 | 0.5% | 0.05 |
| SVS Ventures | 12 | 11.7 | 16.8 | 1 | 5.6% | 0.00 |
| Median of the 10 others | 128 | 13 | 60.6 | 9.1 | 15.9% | 0.12 |
B-Right Realestate shareholding pattern
Promoters, FIIs, DIIs, HNIs and small holdersThe promoters own more than half the company, a little more than in the first filing shown. Big foreign and Indian funds own very little. The number of shareholders has grown a lot.
B-Right Realestate shareholding pattern
Per cent of shares, from the patterns filed with the exchange. Tap + to see everyone holding 1% or more in that group. HNIs and small holders show only where the pattern was filed in full.
| Mar 23 | Sep 23 | Mar 24 | Sep 24 | Mar 25 | Sep 25 | Mar 26 | Jun 26 | |
|---|---|---|---|---|---|---|---|---|
| Promoters | 71.92% | 71.92% | 71.92% | 71.92% | 71.92% | 72.15% | 73.15% | 73.15% |
| Foreign investors (FIIs) | 0.00% | 0.00% | 0.00% | 0.00% | 0.80% | 1.40% | 1.40% | - |
| Number of shareholders | 188 | 119 | 142 | 166 | 154 | 216 | 189 | 1,192 |
B-Right Realestate study: the business from its own documents
Read from 8 of the company's own documentsB-Right Realestate key facts from the filings
Each figure with the document it comes from
- Pre-sales
- ₹286.4 cr
- Value of flats booked in FY26, covering 1,29,726 sq ft, up from ₹186.0 cr in FY25.Annual report 2025 to 26, p.17 to 18
- Collections
- ₹124.2 cr
- Money actually received from buyers in FY26, well below the value of flats booked.Annual report 2025 to 26, p.17
- Revenue still to come
- ₹1,649 cr
- Revenue not yet recognised on the 11 ongoing projects, which will be booked as building work moves ahead.Annual report 2025 to 26, p.18; Investor presentation, May 2026, p.11
- One large project
- ₹867 cr
- Revenue still to be recognised at Ambika Nagar alone, a little over half of the total for all ongoing projects.Investor presentation, May 2026, p.11; our arithmetic
- Projects added
- 8
- Projects taken on in FY26, with an expected gross development value of ₹1,055 cr.Annual report 2025 to 26, p.18
Show 4 more facts
- Borrowings
- ₹187.3 cr
- Total debt at March 2026, up from ₹78.5 cr a year earlier.Investor presentation, May 2026, p.16 to 17; our arithmetic
- Partners' share of profit
- ₹10.4 cr
- Part of FY26 profit of ₹45.6 cr that went to partners in project companies and associates rather than to the company's shareholders.Investor presentation, May 2026, p.15
- Promoter group funding
- ₹25.3 cr
- Funding at project level from Malani Ventures, which the company calls its promoter family office.Investor presentation, May 2026, p.18; Annual report 2025 to 26, p.19
- Credit rating
- IVR BBB-/Stable
- Infomerics rating on the company's ₹40 cr fixed deposit scheme, upgraded in December 2024 from a lower rating given while the company was not cooperating.Credit rating note, Infomerics, December 2024, p.1
What the company said, and what happened
The company's own statements, attributed, set against what it later reported; not newboard's estimates
The company says ₹1,649 cr of revenue remains to be recognised on its 11 ongoing projects. In the May 2026 presentation it gave completion dates of August 2026 for Shrishti in Khar West and October 2026 for Anand Bhuvan in Vile Parle East. The later annual report puts completion of Nirvana in Malad East at February 2027, Luxorica phase two at December 2027 and Safalya at December 2029. The annual report gives two different completion dates for Ambika Nagar, so none is shown here.
Is it a good business? Six questions
Each answer is about that one question, read from the documents; tap one for the evidence. Not a view on the shares.
B-Right Realestate earns its money by rebuilding old housing societies and slum areas in Mumbai and selling the extra flats it is allowed to build.
Its weak spots are a heavy reliance on one large project, rising borrowings, and profits that are shared with partners in its project companies.
AverageCan it set its own prices?Flat prices follow the Mumbai housing market in each neighbourhood, so the company can price only within what buyers in that area will pay.
AverageHow strong is it against rivals?The company has a growing record in Mumbai redevelopment, but it works in a single city crowded with developers.
AverageWho are its customers?Buyers are many households, but one project carries a little over half of the revenue still to come.
WatchDoes it need a lot of money?Yes. Land, rehousing residents and construction all need money before flats are paid for, and borrowings went up sharply in the latest year.
StrongCan it keep finding new work?The company kept adding projects and has a long list waiting to start.
WatchDo good and bad years swing a lot?Profit depends on how fast buildings rise and flats are booked, so it has moved sharply from year to year.
Who runs B-Right Realestate?
Promoters, directors and officers; tap a name for the background
SNSanjay Nathalal ShahChairman and Managing Director
A Chartered Accountant and commerce postgraduate with over 20 years in corporate finance, strategic investments and real estate project development, and a certificate of practice since 2003. The annual report says Sanjay Nathalal Shah focused on reviving distressed, disputed and stalled projects. At the time of the prospectus, a partner in both promoter firms, holding 90.30% of the capital of Cheerful Dealtrade LLP.
Annual report 2025 to 26, p.4 and p.10; Prospectus, p.140 and p.155BSBlow Sales LLPPromoter · holds 24.35%
A limited liability partnership registered in Kolkata, formerly Blow Sales Private Limited, set up for trading and distribution businesses. Its partners at the time of the prospectus included Sudhir Haribhai Patel, Paras Hansrajbhai Desai, Kiran Talakshi Chheda and Sanjay Nathalal Shah.
Prospectus, p.153 to 154; Annual report 2025 to 26, p.124CDCheerful Dealtrade LLPPromoter · holds 24.35%
A limited liability partnership registered in Kolkata, formerly Cheerful Dealtrade Private Limited, set up for trading and distribution businesses. At the time of the prospectus, Sanjay Nathalal Shah held 90.30% of its capital.
Prospectus, p.154 to 155; Annual report 2025 to 26, p.124PMParas Mal JainIndependent Director
A Chartered Accountant with over twenty years in finance, taxation and audit, and a director at the consulting firm Grrowwide Group. On the board since April 2022 and chair of the audit committee.
Annual report 2025 to 26, p.9 to 10; Prospectus, p.140BBBhumi Bakulesh ToliaIndependent Director
A member of the Institute of Company Secretaries of India and a commerce graduate of the University of Mumbai, working in corporate law, compliance and governance. On the board since January 2022 and chair of the nomination and remuneration committee.
Annual report 2025 to 26, p.9 and p.11; Prospectus, p.140PSPrashant ShirsatNon-Executive Director
Founder of Bombay Highlines, with experience in branding, marketing, public relations and real estate development, including land acquisition and redevelopment.
Annual report 2025 to 26, p.11JMJinal Mukeshkumar MehtaChief Financial Officer
A Chartered Accountant since 2015, Chief Financial Officer since January 2022, responsible for finance, planning and raising funds.
Prospectus, p.150 to 151; Annual report 2025 to 26, p.9B-Right Realestate latest news and announcements
Announcements · Documents · Corporate actionsWhat changed recently
Each half-year is set against the same half a year earlier
- H2 FY26: sales ₹113 cr (+80%), net profit ₹33.4 cr (+670%) on H2 FY25.
- Shareholding, 30 June 2026: promoters unchanged at 73.15%.
B-Right Realestate announcements
1 on record, latest first; each opens the filing on the exchange
B-Right Realestate annual reports, earnings calls and documents
Every document links to its source; “read” marks those this page is built from
- Offer document ↗read
- 31 May 2026 ↗read
- 31 Dec 2025 ↗read
- 30 Nov 2022 ↗read
B-Right Realestate share split, bonus and dividends
From the corporate actions the company announces on the exchange
No share split, bonus issue or dividend is on record since listing.
Checks we ran on B-Right Realestate's data · 9
Before any number shows, it goes through the same checks. A figure that fails is held back, never shown as if it were right.
- !For FY25, H1FY25 the exchange filing's profit lines do not add up as read, so the figures shown are from the results page instead.
- ✓Balance sheet totals add up for FY25 and FY26.
- ✓Market cap uses the share count in the latest shareholding pattern (1,03,31,200 shares).
- ✓The share capital in the FY26 results matches the share count in the shareholding pattern.
- ✓Promoter and public holdings add up to 100% in every shareholding pattern shown.
- ✓The two half-years of FY26 add up to the full-year sales.
- !Earnings per share changes basis between FY22 (₹12.92) and FY23 (₹2.00) because the share count behind it changes; EPS is shown as reported, and growth is worked out on profit.
- ✓Revenue and profit are reported for every year shown, FY22 to FY26.
- iPrices run to the close on 14 Oct 2026, from the exchange's daily figures.
Questions people ask about B-Right Realestate
What does B-Right Realestate do?
B-Right Realestate rebuilds old housing societies and slum areas in Mumbai into new towers, rehousing the existing residents and selling the extra flats to home buyers. Its shares trade on BSE SME.
What is the share price of B-Right Realestate?
₹850 at the close on 6 Nov 2026, from the exchange's daily figures.
What is the market cap of B-Right Realestate?
₹878 cr at the close on 6 Nov 2026, on 1,03,31,200 shares.
What is the P/E of B-Right Realestate?
19.3 times FY26 profit at the close on 6 Nov 2026 (our arithmetic).
What are B-Right Realestate's revenue and profit?
Revenue ₹168 cr and profit after tax ₹46 cr in FY26.
Who are the promoters of B-Right Realestate?
Blow Sales LLP, Cheerful Dealtrade LLP; promoters held 73.15% at 30 June 2026.
What is B-Right Realestate's website?
www.b-rightgroup.com
More SME companies like B-Right Realestate
Other listed SME companies in realty, the closest in size first, each read from its own documents.
- Active InfrastructuresACTIVEINFR · NSE Emerge · Realty · listed 2025Market cap ₹259 cr
- Kesar IndiaKESAR · BSE SME · RealtyMarket cap ₹3,787 cr
- P. E. AnalyticsPROPEQUITY · NSE Emerge · Realty · listed 2022Market cap ₹201 cr
- Mason InfratechMASON · NSE Emerge · Realty · listed 2024Market cap ₹199 cr
- Justo RealfintechJUSTO · BSE SME · RealtyMarket cap ₹152 cr
- Shantidoot Infra ServicesSISL · BSE SME · RealtyMarket cap ₹101 cr
Built from 3 investor presentations, 2 annual reports, 2 credit rating notes, 1 offer document, 1 exchange announcements, 8 shareholding patterns and 5 years of reported results. Every figure carries its source; where the documents are silent, the page says so.