DBREALTY
Valor Estate Limited
Mumbai-centric real estate developer focused on residential and commercial development
Consumer Discretionary›Realty›Realty›Residential, Commercial Projects
dbrealty.co.in(opens the company website in a new tab)Key metrics
Price as of 2026-10-16
Stock price
₹87.12
Market cap
4,725 Cr
Stock P/E
403.3
P/B
1.17
ROE (FY26)
0.6%
ROCE (FY26)
3.2%
Operating margin (FY26)
4.0%
Debt / equity (FY26)
0.18
OCF / EBITDA (FY26)
1347.6%
OCF / EBITDA (3Y)
1334.1%
Full years shown; sign in free for the trailing twelve months. Learn about these metrics →
Price & valuation
Share price and valuation multiples (P/E, P/B and more) over time.
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Compare with peers
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What you need to know
Valor Estate (formerly D B Realty) develops land-backed residential, commercial and retail real estate in the Mumbai Metropolitan Region, and has split its hotels business into a separate company, Advent Hotels International.
Company snapshot
20thBy market cap
Ranked among 79 companies in Residential, Commercial Projects.
Segment mix
Reportable segments as of 2024-12-31 (Consolidated). Revenue share = segment revenue ÷ total revenue.
Largest segment: 53.0% of revenue
| Segment | Revenue share | Revenue | PBT | Assets |
|---|---|---|---|---|
| Hospitality Business* | 53.0% | 259 Cr | 42 Cr | — |
| Real Estate Business | 47.0% | 229 Cr | -175 Cr | — |
What we see
Positives
- ✓1334% of operating profit came in as cash over the last three years — profits are backed by real cash.
Concerns
- ✗Net margin is very thin at 1.7% — little room for error if costs rise.
2 more signals from the filings.Sign in free to see them all
Statement tables · Consolidated
Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.
Amounts in ₹ Cr · tap + to expand rows
Quarterly results
Quarterly · ₹ Cr · tap + rows to expand
| Metric | Sept 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sept 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sept 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 68 Cr | 143 Cr | 144 Cr | 79 Cr | 79 Cr | 330 Cr | 645 Cr | 840 Cr | 137 Cr | 529 Cr | 87 Cr | 111 Cr |
| Operating expenses (approx.) | 16 Cr | 62 Cr | 112 Cr | 66 Cr | 289 Cr | 312 Cr | 617 Cr | 860 Cr | 95 Cr | 436 Cr | 133 Cr | 86 Cr |
| EBITDA | 52 Cr | 81 Cr | 32 Cr | 14 Cr | -210 Cr | 18 Cr | 28 Cr | -20 Cr | 42 Cr | 93 Cr | -46 Cr | 24 Cr |
| OPM % | 76.0% | 56.4% | 22.5% | 17.2% | -266.0% | 5.4% | 4.3% | -2.4% | 30.9% | 17.6% | -52.8% | 21.9% |
| Other income | 822 Cr | 415 Cr | 9 Cr | 14 Cr | 63 Cr | 9 Cr | 16 Cr | 58 Cr | 0.29 Cr | 7 Cr | 6 Cr | 8 Cr |
| Interest | 23 Cr | 5 Cr | 33 Cr | 30 Cr | 8 Cr | 27 Cr | 27 Cr | 18 Cr | 29 Cr | 25 Cr | 27 Cr | 30 Cr |
| Depreciation | 0.09 Cr | 14 Cr | 12 Cr | 13 Cr | 13 Cr | 14 Cr | 13 Cr | 0.47 Cr | 0.17 Cr | 1 Cr | 4 Cr | 1 Cr |
| Profit before tax | 941 Cr | 463 Cr | -7 Cr | -17 Cr | -169 Cr | -12 Cr | 6 Cr | 27 Cr | 14 Cr | 71 Cr | -59 Cr | -1 Cr |
| Tax % | 5.0% | 0.0% | -91.2% | 21.9% | 33.4% | 163.4% | 125.1% | 48.3% | 30.7% | 11.9% | -0.3% | -12.0% |
| Net profit | 894 Cr | 463 Cr | -13 Cr | -13 Cr | -111 Cr | 8 Cr | -2 Cr | 14 Cr | 10 Cr | 62 Cr | -59 Cr | -1 Cr |
| EPS (₹) | ₹23.01 | ₹9.26 | ₹-0.13 | ₹-0.27 | ₹-2.12 | ₹0.09 | ₹-0.04 | ₹0.23 | ₹0.19 | ₹1.15 | ₹-1.09 | ₹-0.02 |
Profit & loss (annual)
Annual · last column is TTM · ₹ Cr · tap + to expand
| Metric | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 141 Cr | 120 Cr | 365 Cr | 169 Cr | 25 Cr | 219 Cr | 698 Cr | 357 Cr | 1,133 Cr | 1,593 Cr | Sign in free for the trailing twelve months |
| Operating expenses (approx.) | 235 Cr | 435 Cr | 456 Cr | 400 Cr | 113 Cr | 294 Cr | 1,416 Cr | 202 Cr | 1,230 Cr | 1,524 Cr | Sign in free for the trailing twelve months |
| EBITDA | -94 Cr | -315 Cr | -91 Cr | -231 Cr | -89 Cr | -75 Cr | -718 Cr | 156 Cr | -97 Cr | 70 Cr | Sign in free for the trailing twelve months |
| OPM % | -67.0% | -262.8% | -24.8% | -136.7% | -361.0% | -34.1% | -102.8% | 43.6% | -8.6% | 4.4% | Sign in free for the trailing twelve months |
| Other income | 147 Cr | 159 Cr | 95 Cr | 117 Cr | 107 Cr | 47 Cr | 109 Cr | 1,252 Cr | 48 Cr | 71 Cr | Sign in free for the trailing twelve months |
| Interest | 96 Cr | 125 Cr | 160 Cr | 254 Cr | 334 Cr | 286 Cr | 54 Cr | 83 Cr | 93 Cr | 99 Cr | Sign in free for the trailing twelve months |
| Depreciation | 11 Cr | 6 Cr | 2 Cr | 1 Cr | 1 Cr | 0.69 Cr | 0.42 Cr | 26 Cr | 53 Cr | 6 Cr | Sign in free for the trailing twelve months |
| Profit before tax | -47 Cr | -306 Cr | -309 Cr | -393 Cr | -162 Cr | 194 Cr | -61 Cr | 1,372 Cr | -191 Cr | 53 Cr | Sign in free for the trailing twelve months |
| Tax % | -56.9% | -2.5% | 15.9% | -10.3% | -3.1% | 62.3% | -48.7% | 4.0% | 38.1% | 48.9% | Sign in free for the trailing twelve months |
| Net profit | -74 Cr | -313 Cr | -260 Cr | -434 Cr | -167 Cr | 22 Cr | -90 Cr | 1,317 Cr | -118 Cr | 27 Cr | Sign in free for the trailing twelve months |
| EPS (₹) | ₹-2.46 | ₹-12.90 | ₹-11.41 | ₹-16.98 | ₹-6.98 | ₹1.11 | ₹-2.94 | ₹29.63 | ₹-2.33 | ₹0.50 | Sign in free for the trailing twelve months |
| Dividend payout % | — | — | — | — | — | 0.0% | — | 0.0% | — | 0.0% | Sign in free for the trailing twelve months |
Sign in free for the trailing twelve months
The latest four quarters added up, next to each full year
Balance sheet
Annual · ₹ Cr · tap + rows to expand
| Metric | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity capital | 243 Cr | 243 Cr | 243 Cr | 243 Cr | 243 Cr | 259 Cr | 352 Cr | 538 Cr | 538 Cr | 542 Cr |
| Reserves | 2,531 Cr | 2,201 Cr | 1,982 Cr | 1,350 Cr | 1,093 Cr | 1,630 Cr | 1,785 Cr | 4,477 Cr | 4,355 Cr | 3,549 Cr |
| Borrowings | 1,374 Cr | 1,577 Cr | 1,596 Cr | 1,531 Cr | 1,857 Cr | 3,258 Cr | 2,666 Cr | 2,025 Cr | 1,897 Cr | 747 Cr |
| Other liabilities | 2,457 Cr | 2,720 Cr | 3,296 Cr | 3,789 Cr | 4,267 Cr | 3,738 Cr | 3,712 Cr | 2,052 Cr | 1,678 Cr | 1,557 Cr |
| Total liabilities | 6,512 Cr | 6,633 Cr | 6,968 Cr | 6,743 Cr | 7,339 Cr | 8,760 Cr | 8,448 Cr | 9,163 Cr | 8,547 Cr | 6,359 Cr |
| Fixed assets (net) | 94 Cr | 39 Cr | 33 Cr | 32 Cr | 5 Cr | 8 Cr | 5 Cr | 1,492 Cr | 1,498 Cr | 71 Cr |
| CWIP | — | — | 0 Cr | 0 Cr | 0 Cr | — | 0 Cr | 10 Cr | 6 Cr | 0 Cr |
| Investments | 1,556 Cr | 1,719 Cr | 1,746 Cr | 1,511 Cr | 1,395 Cr | 1,562 Cr | 1,728 Cr | 886 Cr | 1,378 Cr | 455 Cr |
| Loans & advances | — | — | 865 Cr | 898 Cr | 1,181 Cr | 1,170 Cr | 581 Cr | 115 Cr | 172 Cr | 399 Cr |
| Inventories | 2,322 Cr | 2,733 Cr | 2,163 Cr | 2,216 Cr | 2,381 Cr | 3,348 Cr | 2,582 Cr | 2,958 Cr | 2,331 Cr | 1,456 Cr |
| Trade receivables | 78 Cr | 56 Cr | 90 Cr | 84 Cr | 75 Cr | 220 Cr | 69 Cr | 83 Cr | 252 Cr | 282 Cr |
| Cash & bank | 4 Cr | 21 Cr | 4 Cr | 8 Cr | 15 Cr | 107 Cr | 40 Cr | 781 Cr | 37 Cr | 54 Cr |
| Other assets | 2,458 Cr | 2,065 Cr | 2,067 Cr | 1,994 Cr | 2,287 Cr | 2,345 Cr | 3,443 Cr | 2,838 Cr | 2,872 Cr | 3,643 Cr |
| Total assets | 6,512 Cr | 6,633 Cr | 6,968 Cr | 6,743 Cr | 7,339 Cr | 8,760 Cr | 8,448 Cr | 9,163 Cr | 8,547 Cr | 6,359 Cr |
Cash flows
Annual · ₹ Cr · tap + rows to expand · last column includes FCF
| Metric | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operating activity | — | — | -195 Cr | 227 Cr | 95 Cr | -267 Cr | 96 Cr | 237 Cr | 540 Cr | 939 Cr |
| Cash from investing | — | — | -36 Cr | -160 Cr | -165 Cr | 275 Cr | -200 Cr | 484 Cr | -689 Cr | -336 Cr |
| Cash from financing | — | — | 326 Cr | -63 Cr | 75 Cr | 86 Cr | 52 Cr | 18 Cr | -595 Cr | -580 Cr |
| Net cash flow | — | — | 95 Cr | 5 Cr | 5 Cr | 94 Cr | -52 Cr | 739 Cr | -743 Cr | 22 Cr |
| Free cash flow (OCF − Capex) | — | — | -195 Cr | 218 Cr | 95 Cr | -287 Cr | 96 Cr | 184 Cr | 493 Cr | 925 Cr |
Ratios
| Metric | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % | 1.2% | -4.6% | -4.0% | -4.7% | 5.6% | 8.5% | -0.1% | 20.5% | -1.4% | 3.2% |
| ROE % | -2.2% | -13.4% | -13.4% | -29.0% | -14.0% | 1.5% | -4.4% | 25.9% | -2.5% | 0.6% |
| Debtor days | 202 | 170 | 90 | 181 | 1106 | 365 | 36 | 84 | 81 | 64 |
| Inventory days | 5997 | 8300 | 2156 | 4782 | 35298 | 6352 | 1889 | 5295 | 2116 | 1360 |
| Days payable | 375 | 496 | 165 | 320 | 1802 | 190 | 68 | 229 | 186 | 49 |
| Cash conversion cycle | 5825 | 7974 | 2081 | 4643 | 34602 | 6527 | 1857 | 5150 | 2011 | 1375 |
| OCF / EBITDA % | — | — | — | — | — | — | — | 151.8% | — | 1347.6% |
| OCF / EBITDA % (3 years) | — | — | — | — | — | — | — | — | — | 1334.1% |
| Debt / equity | 0.51 | 0.67 | 0.77 | 1.08 | 1.53 | 1.85 | 1.29 | 0.40 | 0.39 | 0.18 |
| Current ratio | 1.58 | 1.42 | 1.47 | 1.30 | 1.73 | 1.72 | 1.36 | 2.20 | 1.88 | 1.45 |
| Net debt / EBITDA | — | — | — | — | — | — | — | 7.98 | — | 9.94 |