Mason InfratechShare price, financial results, shareholding and management
- Market cap
- ₹199 cr
- Stock P/E
- 9.1peers 20.6
- Book value
- ₹68
- Price to book
- 1.22
- EV / operating profit
- 8.4
- Market cap to sales
- 1.51
- ROCE · FY26
- 18.2%
- ROE · FY26
- 19.1%
- ROE, 3-year average
- 28.7%
- Operating margin · FY26
- 26.4%peers 15.9%
- Sales growth, 3 years
- +17.1%
- Profit growth, 3 years
- +28.0%
- Debt to equity
- 0.59peers 0.12
- Borrowings
- ₹95.8 cr
- Interest cover
- 8.1×
- Cash from business / op. profit
- -162%
- Debtor days
- 206
- Pledged
- 0.00%
- Promoter holding
- 52.60%
- Change in promoter holding
- +0.05 pts
- Shareholders
- 1,104
- 52-week high / low
- ₹220 / ₹80
- Dividend yield
- Paid
- Face value
- ₹10
Tap or hover on any figure for what it means. Our arithmetic on reported figures, at the latest close.
Mason Infratech share price chart
Close on 6 Nov 2026 · +0.18% on the day · Vol 1,500
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
- -17.8%
- 3 months
- -30.7%
- 6 months
- -35.8%
- 1 year
- -59.5%
- Since IPO
- +29.7%
- Traded a day, 20 days
- ₹0.35 cr
- Taken for delivery
- 87%
Business growth
Sales and net profit, from the reported results
| Sales | Profit | |
|---|---|---|
| FY26 on FY25 | +17% | +28% |
| 3 years, a year | - | - |
| Latest half, H2 FY26 | +6% | +14% |
About Mason Infratech: business, products and customers
Mason Infratech builds the concrete frames and finished towers of homes and offices for property developers in and around Mumbai and Thane. It has also begun taking part shares in housing projects of its own, and its shares trade on NSE Emerge.
Mason Infratech began as the partnership firm Mason Infrastructure in February 2020 and became a company in 2023. It is hired by developers to build high-rise residential and commercial towers in the Mumbai Metropolitan Region, and owns its own formwork systems, tower cranes and concrete pumps so it does not wait for hired equipment.
How a contract is written shapes the reported numbers. In a labour-only contract the developer supplies the steel and concrete, so Mason bills only for its work and sales per tower are small; in a part-material contract it buys some materials, and in a lock and key contract it supplies everything and hands over a finished building, which brings in far more revenue per project. Work is billed as it is certified, so unbilled work and money owed by developers tie up cash, and the company's turnover of stock slowed sharply in FY26.
Read more about the business
Since FY25 the company has put money into five property development partnerships and companies (Milestone, Ekkam, Avvad, Cadcons and Magicmind), a majority stake in Megastone Projects and a joint venture with Niraj Cement Structurals, funded largely from a preferential issue of shares and warrants. Some of these partners now place building orders with Mason, which the company reports as related party work at arm's length.
The offer document names Capacit'e Infraprojects and Atal Realtech as its listed peers for comparing financial measures; like Mason, both build buildings under contract for clients. It describes the construction industry as extremely competitive, with many rivals holding greater financial resources.
From the offer document (red herring prospectus, June 2024), the annual reports for FY25 and FY26, the result filing of 27 May 2026 and the company's order announcements of September 2026.
Read the deeper study ↓In its favour
- It paid a dividend in the past year.
To watch
- Progress on the Magicmind lock and key tower, due within 36 months of handover of the site (Announcement, 18 September 2026, p.2).
- Whether the ten lakh warrants still outstanding are converted within 18 months of the August 2025 allotment (Annual report FY26, p.73 and p.75).
- First profits or losses from the development associates and Megastone Projects, which reported none for FY26 (Annual report FY26, p.112 to 114).
- A new Company Secretary after the resignation of 4 September 2026 (Annual report FY26, p.77).
- Customers take longer to pay than before: 206 days in FY26, against 113 in FY24.
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.
Mason Infratech revenue and profit growth
Half-yearly results · Profit and lossSales have grown steadily. 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.
Mason Infratech half-yearly results
SME companies report every six months · ₹ crore
| H1FY24 | H2FY24 | H1FY25 | H2FY25 | H1FY26 | H2FY26 | |
|---|---|---|---|---|---|---|
| Sales | 25 | 69 | 37 | 75.06 | 51.81 | 79.40 |
| Expenses | 21 | 54 | 28 | 55.87 | 38.03 | 58.63 |
| Operating profit | 3 | 15 | 9 | 19.19 | 13.78 | 20.77 |
| OPM | 13.0% | 22.0% | 23.0% | 25.6% | 26.6% | 26.2% |
| Interest | 0 | 1 | 1 | 1.31 | 2.39 | 1.77 |
| Depreciation | 1 | 1 | 1 | 1.48 | 1.45 | 1.84 |
| Profit before tax | 2 | 14 | 6 | 16.52 | 10.38 | 19.18 |
| Net profit | 2 | 10 | 5 | 12.38 | 7.81 | 14.07 |
Mason Infratech profit and loss
Full years to March, FY24 to FY26 · ₹ crore, consolidated where reported
| FY24 | FY25 | FY26 | |
|---|---|---|---|
| Sales | 94 | 112.10 | 131.32 |
| Expenses | 75 | 84.30 | 96.67 |
| Operating profit | 19 | 27.80 | 34.65 |
| OPM | 20.0% | 24.8% | 26.4% |
| Other income | 0 | 0.17 | 2.36 |
| Interest | 1 | 2.58 | 4.16 |
| Depreciation | 2 | 2.58 | 3.29 |
| Profit before tax | 16 | 22.81 | 29.56 |
| Tax rate | 25.0% | 25.1% | 26.0% |
| Net profit | 12 | 17.09 | 21.87 |
| EPS ₹ | 9.09 | 9.72 | 10.29 |
| Dividend payout | 3.0% | 0.0% | 1.0% |
The years to FY24 come rounded to the nearest crore in the source.
Mason Infratech profitability
Margins and returns on capitalLast year the company kept about as much from each rupee of sales as the year before. It earns a moderate return on the money it uses.
Operating margin, every year
Per cent of sales kept before interest, depreciation and tax
| FY24 | FY25 | FY26 | |
|---|---|---|---|
| Operating margin | 20.0% | 24.8% | 26.4% |
| Tax rate | 25.0% | 25.1% | 26.0% |
| ROCE | · | 33.6% | 18.2% |
| ROE | · | 38.2% | 19.1% |
| Dividend payout | 3.0% | 0.0% | 1.0% |
Mason Infratech 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 smaller than its own money. Last year the business used more cash than it brought in. 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.
Mason Infratech balance sheet
At each 31 March · ₹ crore
| FY24 | FY25 | FY26 | |
|---|---|---|---|
| Equity capital | 13 | 17.57 | 23.94 |
| Reserves | 10 | 48.93 | 138.77 |
| Net worth | 23 | 66.50 | 162.71 |
| Borrowings | 16 | 45.44 | 95.84 |
| Other liabilities | 39 | 45.70 | 34.84 |
| Total liabilities | 78 | 157.64 | 293.39 |
| Fixed assets | 9 | 11.53 | 12.32 |
| Capital work in progress | 0 | 0 | 0 |
| Investments | 4 | 25.86 | 87.89 |
| Other assets | 65 | 120.25 | 193.18 |
| Receivables | · | 56.84 | 74.02 |
| Inventory | · | 30.71 | 93.57 |
| Cash | · | 1.43 | 3.04 |
| Trade payables | · | 28.60 | 20.13 |
Mason Infratech cash flow
₹ crore
| FY24 | FY25 | FY26 | |
|---|---|---|---|
| Cash from operations | 16 | 7.51 | -56.17 |
| Cash from investing | -5 | -26.78 | -56.03 |
| Cash from financing | -10 | 19.42 | 113.82 |
| Net cash flow | 1 | 0.15 | 1.62 |
| Capital spending | · | 4.84 | 4.08 |
Working capital
Days
| FY24 | FY25 | FY26 | |
|---|---|---|---|
| Debtor days | 113 | 185 | 206 |
| Inventory days | 235 | 503 | 423 |
| Days payable | 323 | 469 | 15 |
| Cash conversion cycle | 24 | 220 | 614 |
| Working capital days | -2 | 45 | 300 |
Mason Infratech peers and competitors
Listed SME companies in the same industryBy sales, Mason Infratech is number 3 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 | 947 | 20.6 | 168 | 46 | 39.0% | 1.06 |
| Mason Infratech | 199 | 9.1 | 131 | 21.9 | 26.4% | 0.59 |
| 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 | 20.6 | 60.6 | 9.1 | 15.9% | 0.12 |
Mason Infratech shareholding pattern
Promoters, FIIs, DIIs, HNIs and small holdersThe promoters own more than half the company, a little less than in the first filing shown. Foreign and Indian funds own a noticeable share. The number of shareholders is about the same.
Mason Infratech 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.
| Jun 24 | Sep 24 | Mar 25 | Aug 25 | Sep 25 | Oct 25 | Mar 26 | |
|---|---|---|---|---|---|---|---|
| Promoters | 71.60% | 71.60% | 71.60% | 71.60% | 55.84% | 52.55% | 52.60% |
| Foreign investors (FIIs) | 4.40% | 1.64% | 1.60% | 0.03% | 0.02% | 0.02% | - |
| Indian institutions (DIIs) | 6.42% | 6.15% | 6.15% | 6.15% | 6.26% | 5.89% | 5.89% |
| HNIs (over ₹2 lakh each) | 0.98% | 3.35% | 3.74% | 4.16% | 20.74% | 25.40% | 25.55% |
| Small holders (up to ₹2 lakh) | 11.54% | 15.26% | 14.30% | 14.06% | 10.94% | 10.30% | 8.99% |
| Companies and others | 5.06% | 2.00% | 2.61% | 4.00% | 6.20% | 5.84% | 6.97% |
| Number of shareholders | 1,097 | 1,053 | 1,035 | 1,083 | 1,167 | 1,170 | 1,104 |
The named holders are at 31 March 2026, beside 16 Oct 2025, each under the group the pattern files them in.
Mason Infratech study: the business from its own documents
Read from 4 of the company's own documentsMason Infratech so far
From the company's own record
- 1 July 2024Listed on NSE Emerge at ₹64
- 16 Sept 2026Order worth ₹3.60 cr
- 16 Sept 2026Order worth ₹12.90 cr
- 18 Sept 2026Order worth ₹73.26 cr
- 31 March 2026Promoters at 52.60%
- 6 Aug 2025Highest close since listing, ₹195.20
Mason Infratech key facts from the filings
Each figure with the document it comes from
- Order book at listing
- ₹191.8 cr
- Work in hand at March 2024 across eight ongoing projects; the company has not stated a newer figure in the documents read.Offer document, p.115
- Top five clients
- 80.60%
- Share of the March 2024 order book from the five biggest clients, so losing one would hurt.Offer document, p.35
- Ongoing work
- 10 projects, 6 developers
- What the company was building at the time of the FY26 annual report.Annual report FY26, p.109
- Contract mix
- 31% / 62% / 7%
- Labour-only, part-material and full lock and key projects as shares of the company's project engagements.Annual report FY26, p.108 to 109
- Magicmind order
- ₹73.3 cr
- Lock and key work on a 23-floor residential tower in Kandivali, due within 36 months; Mason holds 27.5% of the client, so it is related party work.Announcement, 18 September 2026, p.1 to 2
Show 5 more facts
- Lodha group orders
- ₹23.5 cr
- Three core and shell orders from Cowtown Infotech Services at Taloja and Palava, inclusive of taxes; our sum of the three.Announcements, 16 September 2026, p.1
- Development stakes
- 7 entities
- Five associates held at 27.5% to 40%, a 51% subsidiary and a 50% joint venture; none reported a profit for FY26.Annual report FY26, p.112 to 114
- Preferential issue
- ₹91.4 cr
- Shares and warrants at ₹124 in August 2025; ₹82.1 cr received by March 2026, with ₹44.0 cr set aside to invest in and lend to associates and joint ventures.Annual report FY26, p.73 to 75
- Stock turnover
- 3.08 → 1.34
- Inventory turnover in FY25 against FY26: work and materials sat far longer before being billed.Annual report FY26, p.110
- Directors' pay
- ₹2.1 cr
- Paid in FY26 to the Managing Director and the Whole-time Director together; our sum of the two.Annual report FY26, p.117
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 building work under contract stays its core, while it selectively takes stakes in development projects where it also does the construction. In September 2026 it announced a lock and key order from its associate Magicmind Infratech, to be completed within 36 months, and three orders from a Lodha group company. It gives no sales or profit guidance and has not stated a current order book.
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.
Mason Infratech earns the gap between what a developer pays for a building and what it spends on labour, materials and equipment.
Its weak spots are a handful of clients, cash locked in unfinished work, and a new push into property development where its partners are also its customers.
WatchCan it set its own prices?Work is won by quoting against other contractors, so the developer largely decides the rate.
AverageHow strong is it against rivals?Owning its own formwork and cranes helps it build floors faster, but many rivals are bigger and better funded.
WatchWho are its customers?A few Mumbai region developers, and now its own associates, give almost all the work.
WatchDoes it need a lot of money?Yes: unfinished work and dues from developers soak up cash, and the development stakes need more.
AverageCan it keep finding new work?Orders keep coming from repeat developers and from a large group, but new clients come mostly through the promoters' contacts.
WatchDo good and bad years swing a lot?Building work follows the property cycle, and costs of steel, cement and labour can move against a fixed contract.
Who runs Mason Infratech?
Promoters, directors and officers; tap a name for the background
ASAsit Surendra Thakkar DattaniPromoter, Chairman and Managing Director · holds 8.60%
Holds a Secondary School Certificate and has more than two decades in the infrastructure sector, heading various projects. Responsible for overall management and for winning new projects; Managing Director since January 2024.
Offer document, p.142; Annual report FY26, p.12; Shareholding pattern, March 2026AJAshutosh Jayantilal JuthaniPromoter and Whole-time Director · holds 19.34%
Holds a B.Com in financial accounting and auditing from the University of Bombay (1994) and a diploma in interior designing from the School of Interior Design, Mumbai (2005), with more than a decade in construction and interior design. A partner in the business since it began in 2020.
Offer document, p.114 and p.142 to 143; Annual report FY26, p.31; Shareholding pattern, March 2026SASmeet Asit Thakkar DattaniPromoter and Chief Financial Officer · holds 17.03%
Holds a BA in business management (finance) and a postgraduate diploma in investment management from Middlesex University, and handles day to day accounts. Chief Financial Officer from May 2025 after Hardik Shankar Bhadra resigned. The offer document records Smeet Thakkar Dattani as the son of Asit Thakkar Dattani.
Offer document, p.151 to 152; Annual report FY26, p.77 to 78; Shareholding pattern, March 2026GRGokuldas Raghoba DesaiIndependent Director
On the board since 30 September 2024 and a member of the audit committee; the documents read give no further background.
Annual report FY25, p.33 and p.37SCSubhash Chandra VarshneyIndependent Director
Appointed on 23 March 2026. Vishwa Deo Sharma, an independent director since January 2024, resigned in August 2026; the documents read give no further background on the new appointee.
Annual report FY26, p.77 to 78Mason Infratech 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 ₹79.4 cr (+6%), net profit ₹14.1 cr (+14%) on H2 FY25.
- Shareholding, 31 March 2026: promoters 52.55% to 52.60%.
- 18 Sept 2026: order worth ₹73.26 cr announced.
- 16 Sept 2026: order worth ₹12.90 cr announced.
Mason Infratech announcements
90 on record, latest first; each opens the filing on the exchange
- Certificate under SEBI (Depositories and Participants) Regulations, 2018Certificate under SEBI (Depositories and Participants) Regulations, 2018PDF ↗
- Resignation of Director/KMP/SMPResignation of Director/KMP/SMPPDF ↗
- Resignation of Director/KMP/SMPResignation of Director/KMP/SMPPDF ↗
- ResignationOf Ms Anuradha Sangeeta Parmar as Non- Executive Independent Director of the company w.e.f. September 30, 2026PDF ↗
- Shareholders meetingSrutinizers report of Annual General Meeting held on September 29, 2026. Further, the company has informed the Exchange regarding voting resultsPDF ↗
- Shareholders meetingProceedings of Annual General Meeting held on September 29, 2026PDF ↗
- Trading WindowClosure pursuant to SEBI (Prohibition of Insider Trading) Regulations, 2015PDF ↗
- Updates'''PDF ↗
- Bagging/Receiving of orders/contractsFrom Magicmind Infratech LLP worth Rs. 73.26 crores (exclusive of taxes) approxPDF ↗
- Bagging/Receiving of orders/contractsCowtown Infotech Services Limited (An entity of Lodha Group) worth Rs. 12.90 crores (inclusive of taxes) approxPDF ↗
- Bagging/Receiving of orders/contractsFrom Cowtown Infotech Services Limited (An entity of Lodha Group) worth Rs. 3.60 crores (inclusive of taxes) approxPDF ↗
- Bagging/Receiving of orders/contractsFrom Cowtown Infotech Services Limited (An entity of Lodha Group) worth Rs. 7.01 crores (inclusive of taxes)PDF ↗
Mason Infratech annual reports, earnings calls and documents
Every document links to its source; “read” marks those this page is built from
- Offer document ↗read
Mason Infratech share split, bonus and dividends
From the corporate actions the company announces on the exchange
- DividendDIVIDEND - RE 0.10 PER SHAREex-date 15 Sept 2026
Checks we ran on Mason Infratech'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.
- ✓Balance sheet totals add up for FY25 and FY26.
- ✓Market cap uses the share count in the latest shareholding pattern (2,39,40,000 shares).
- ✓The share capital in the FY26 results matches the share count in the shareholding pattern.
- ✓Promoter pledge figures are within possible limits in every shareholding pattern shown.
- ✓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 moves in line with profit across the years shown.
- ✓Revenue and profit are reported for every year shown, FY24 to FY26.
- iPrices run to the close on 14 Oct 2026, from the exchange's daily figures.
Questions people ask about Mason Infratech
What does Mason Infratech do?
Mason Infratech builds the concrete frames and finished towers of homes and offices for property developers in and around Mumbai and Thane. It has also begun taking part shares in housing projects of its own, and its shares trade on NSE Emerge.
What is the share price of Mason Infratech?
₹83 at the close on 6 Nov 2026, from the exchange's daily figures.
What is the market cap of Mason Infratech?
₹199 cr at the close on 6 Nov 2026, on 2,39,40,000 shares.
What is the P/E of Mason Infratech?
9.1 times FY26 profit at the close on 6 Nov 2026 (our arithmetic).
What are Mason Infratech's revenue and profit?
Revenue ₹131 cr and profit after tax ₹22 cr in FY26.
Who are the promoters of Mason Infratech?
Asit Surendra Thakkar Dattani, Ashutosh Jayantilal Juthani, Smeet Asit Thakkar Dattani; promoters held 52.60% at 31 March 2026.
What was the IPO price of Mason Infratech?
₹64 a share; it listed on 1 July 2024.
What is Mason Infratech's website?
www.masoninfra.com
More SME companies like Mason Infratech
Other listed SME companies in realty, the closest in size first, each read from its own documents.
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- Justo RealfintechJUSTO · BSE SME · RealtyMarket cap ₹152 cr
- Shantidoot Infra ServicesSISL · BSE SME · RealtyMarket cap ₹101 cr
- V R InfraspaceVR · NSE Emerge · Realty · listed 2024Market cap ₹78 cr
- Homesfy RealtyHOMESFY · NSE Emerge · Realty · listed 2023Market cap ₹47 cr
Every listed SME company in Realty → · SME companies listed in 2024 →
Built from 2 annual reports, 1 offer document, 1 result filing, 90 exchange announcements, 7 shareholding patterns and 3 years of reported results. Every figure carries its source; where the documents are silent, the page says so.