🔍

MODIS - Modi's Navnirman

📊 NSE: MODIS 🏢 Residential, Commercial Projects 📅 Last Updated: 11/13/2025 15:25

📢 Recent Corporate Announcements

Modis Navnirman Receives OC for 1.3 Lakh Sq Ft 'Rashmi Celestia' Project in Borivali

🟢 POSITIVE ⭐ 7/10

EXPANSION 📅 12 Mar 2026, 11:07 AM

Modis Navnirman has successfully received the Occupation Certificate (OC) for its premium mixed-use project, 'Rashmi Celestia', located in Borivali West, Mumbai. The project spans approximately 1,30,000 square feet of development and includes residential units along with ground-level commercial spaces. Receipt of the OC allows the company to immediately begin the possession handover process to homebuyers, which will likely trigger final payment collections and revenue recognition. This milestone reinforces the company's execution capabilities in the competitive Mumbai redevelopment market.

Received Occupation Certificate (OC) for the 'Rashmi Celestia' project in Borivali West, Mumbai.
The project encompasses a total development area of approximately 1,30,000 square feet.
Features a mixed-use tower with ground-level commercial, semi-commercial, and residential floors.
Enables the company to commence unit handovers and finalize revenue realization for the project.
Strengthens the company's operational footprint in Mumbai's western suburban redevelopment sector.

💡 The completion and OC receipt for a major project is a significant de-risking event that should improve the company's cash flow through final collections. Investors should monitor the company's ability to scale this redevelopment model across its other ongoing projects in Mumbai.

Modis Navnirman Secures ₹160 Crore Redevelopment Project in Kandivali, Mumbai

🟢 POSITIVE ⭐ 7/10

EXPANSION 📅 04 Mar 2026, 05:26 PM

Modis Navnirman Limited has been appointed as the developer for the redevelopment of New Chitra Co-operative Housing Society in Kandivali West, Mumbai. The project is spread across a 2,300 sq. meter land parcel and is expected to generate an estimated Gross Development Value (GDV) of ₹160 crore. The company plans to replace the existing 14-storey landmark structure with a modern commercial-cum-residential tower. This mandate strengthens the company's specialized portfolio in the high-demand Mumbai redevelopment market.

Estimated Gross Development Value (GDV) of approximately ₹160 crore for the project.
Redevelopment of a 2,300 sq. meter land parcel in the prime location of Kandivali West.
Transformation of an aging 14-storey landmark into a modern commercial-cum-residential tower.
Project to incorporate energy-efficient systems, rainwater harvesting, and smart building technologies.
Strengthens the company's position in Mumbai's competitive redevelopment-focused real estate sector.

💡 Investors should track the project's approval milestones and construction progress as it provides significant revenue visibility for the coming years. The ₹160 crore GDV is a substantial addition to the company's order book relative to its typical project scale.

Modis Navnirman Releases Audio Recording of 9M FY26 Earnings Call

🟡 NEUTRAL ⭐ 3/10

EARNINGS 📅 17 Feb 2026, 05:38 PM

Modis Navnirman Limited has officially released the audio recording of its earnings conference call held on February 17, 2026. The call focused on the company's financial performance for the nine-month period ending December 31, 2025 (9M FY26). During the session, management interacted with analysts and institutional investors to discuss operational results and strategic outlook. This disclosure provides transparency, allowing all stakeholders to access the same information shared during the private briefing.

Earnings conference call conducted on February 17, 2026, for 9M FY 2025-26 results.
Management discussed financial performance for the period ending December 31, 2025.
Audio recording link made publicly available on the company's official website.
The filing is a routine regulatory compliance under SEBI disclosure norms.

💡 Investors should listen to the audio recording to understand management's perspective on the 9M FY26 results and future growth guidance. This is particularly useful for assessing the company's project pipeline and execution capabilities.

Modis Navnirman 9M FY26 PAT Soars 105% YoY to ₹24.8 Cr; Revenue Up 103%

🟢 POSITIVE ⭐ 8/10

EARNINGS 📅 14 Feb 2026, 05:28 PM

Modis Navnirman reported a stellar performance for 9M FY26, with revenue doubling to ₹137.82 crore and PAT increasing by 105% to ₹24.8 crore, already exceeding the full-year FY25 earnings. The company maintained its debt-free status while expanding its portfolio with a new ₹250 crore GDV redevelopment project in Borivali. Operational efficiency improved as EBITDA margins rose to 22.32%, supported by a 38.69% growth in area sold. The successful migration to the main boards of BSE and NSE further strengthens its corporate profile.

9M FY26 Revenue grew 103.36% YoY to ₹137.82 Cr, while PAT surged 105.22% to ₹24.8 Cr.
Q3 FY26 EBITDA margins expanded by 231 bps YoY to 27.19% due to better cost control.
Secured a new redevelopment mandate in Borivali (West) with an estimated GDV of ₹250 Cr.
The company remains debt-free, providing significant financial flexibility for future expansion.
Area sold in 9M FY26 increased by 38.69% YoY to 36,080 sq. ft.

💡 Investors should view the strong revenue growth and debt-free status as highly positive indicators of execution capability. Monitor the progress of the newly acquired ₹250 Cr Borivali project for future revenue visibility.

Modis Navnirman 9M FY26 Revenue Up 103% to ₹137.82 Cr; PAT Doubles to ₹24.77 Cr

🟢 POSITIVE ⭐ 8/10

EARNINGS 📅 14 Feb 2026, 05:22 PM

Modis Navnirman reported a stellar performance for 9M FY26, with revenue doubling to ₹137.82 crore compared to the previous year. The company maintained its debt-free status while achieving a PAT of ₹24.77 crore, representing a 105% YoY growth. Operational efficiency improved slightly, with EBITDA margins rising to 22.32% and PAT margins reaching 17.90%. The company also secured a significant new redevelopment mandate in Borivali with an estimated Gross Development Value (GDV) of ₹250 crore.

Revenue grew by 103.36% YoY to ₹137.82 Cr, while PAT increased by 105.22% to ₹24.77 Cr.
The company remains debt-free despite scaling operations and expanding its project pipeline.
Secured a new redevelopment mandate in Borivali (West) with an estimated GDV of ₹250 crore.
Ongoing projects cover 13.90+ lakh sq. ft. with an additional 8.65+ lakh sq. ft. in the upcoming pipeline.
EBITDA margins improved to 22.32%, driven by the execution of high-margin redevelopment projects.

💡 Investors should note the company's strong execution in the Mumbai redevelopment market and its debt-free balance sheet. The significant jump in revenue and profit suggests strong momentum, but monitoring the timely delivery of the 13.90 lakh sq. ft. ongoing pipeline is key.

Modis Navnirman Q3 Net Profit Surges 82% YoY to ₹12.77 Cr; Revenue Up 70%

🟢 POSITIVE ⭐ 8/10

EARNINGS 📅 13 Feb 2026, 06:34 PM

Modis Navnirman reported a strong performance for Q3 FY26, with revenue from operations growing 70% YoY to ₹54.43 crore. Net profit for the quarter jumped 82% YoY to ₹12.77 crore, driven by increased construction activity and the impact of its recent merger. The company successfully migrated from the SME platform to the Main Board in November 2025. Earnings per share (EPS) improved significantly to ₹6.47 from ₹3.58 in the same quarter last year.

Revenue from operations increased to ₹54.43 crore in Q3 FY26, compared to ₹32.02 crore in Q3 FY25.
Net profit rose substantially to ₹12.77 crore, up from ₹7.01 crore in the corresponding previous year quarter.
EBITDA for the quarter stood at ₹14.85 crore, reflecting strong operational margins.
9M FY26 total comprehensive income reached ₹24.69 crore following the merger with its subsidiary.
The company completed its migration to the Main Board of NSE and BSE on November 14, 2025.

💡 The stock shows strong growth momentum following its migration to the Main Board and successful merger integration. Investors should monitor the execution of upcoming redevelopment projects in Mumbai to sustain this growth trajectory.

Modis Navnirman Schedules Q3 & 9M FY26 Earnings Conference Call for February 17

🟡 NEUTRAL ⭐ 4/10

EARNINGS 📅 13 Feb 2026, 11:02 AM

Modis Navnirman Limited has announced its earnings conference call for Tuesday, February 17, 2026, at 3:00 PM IST. The management team, including the CMD and CFO, will discuss the company's financial and operational performance for the third quarter and the first nine months of FY26. This call follows the release of their periodic financial results and provides a platform for analysts and investors to seek clarifications on business growth. The meeting will be conducted virtually with international dial-in options available.

Earnings conference call scheduled for February 17, 2026, at 3:00 PM IST.
Agenda focuses on Q3 and 9M FY26 operational and financial performance.
Key management participants include Mr. Dinesh Modi (CMD) and Mr. Mahek Modi (CFO).
Primary dial-in numbers are +91 22 6280 1102 and +91 22 7115 8003.

💡 Investors should participate in the call or review the transcript to understand the company's project execution status and management's outlook on the real estate sector. Pay close attention to any updates regarding new project launches or debt levels.

Modis Navnirman Starts Construction of 200+ Unit 'Rashmi Icon' Project in Malad, Mumbai

🟢 POSITIVE ⭐ 7/10

EXPANSION 📅 09 Feb 2026, 03:31 PM

Modis Navnirman Limited has officially commenced construction on its new mixed-use project, 'Rashmi Icon', located in Malad (West), Mumbai. The project is situated on a 4,744.40 sq. mtrs. plot and will feature three residential wings comprising 201 contemporary homes. In addition to residential units, the development includes 17 commercial shops and a dedicated amenities floor. This move strengthens the company's project pipeline and presence in the high-demand Mumbai real estate market.

Commencement of construction for 'Rashmi Icon' project in Malad (West), Mumbai
Project includes 201 residential units and 17 commercial shops
Total development plot area spans 4,744.40 sq. mtrs.
Features three residential wings with podium parking and modern lifestyle amenities
Strengthens the company's portfolio in the Mumbai redevelopment and residential sector

💡 Investors should track the project's sales velocity and construction milestones as they will significantly impact future revenue recognition. The company's ability to execute this 200+ unit project efficiently is a key indicator of its growth trajectory in the Mumbai market.

Modis Navnirman Reports 100% Compliance with SEBI Insider Trading Regulations for Q3 FY26

🟡 NEUTRAL ⭐ 3/10

REGULATORY 📅 29 Jan 2026, 05:00 PM

Modis Navnirman Limited has filed its compliance certificate for the Structured Digital Database (SDD) for the quarter ended December 31, 2025. The company confirmed that it successfully captured all 3 required Un-published Price Sensitive Information (UPSI) events during the period. The database is maintained internally, is non-tamperable, and features an audit trail capable of preserving records for 8 years. This filing demonstrates the company's adherence to SEBI's Prohibition of Insider Trading regulations, ensuring transparency in information handling.

Successfully captured 3 out of 3 required UPSI events during the quarter ended December 31, 2025
Confirmed full compliance with Regulations 3(5) and 3(6) of SEBI (Prohibition of Insider Trading) Regulations, 2015
Maintains a non-tamperable internal database with an audit trail capability for 8 years
Reported zero non-compliances and no required remedial actions for the previous quarter

💡 This is a routine regulatory filing that confirms the company's commitment to corporate governance and insider trading norms. No immediate action is required as this does not impact the company's financial fundamentals.

Modis Navnirman Wins Rs 250 Crore Housing Society Redevelopment Mandate in Mumbai

🟢 POSITIVE ⭐ 7/10

EXPANSION 📅 01 Jan 2026, 06:41 PM

Modis Navnirman Limited has been appointed as the developer for the redevelopment of BOI Staff Sheetal Co-operative Housing Society in Borivali West, Mumbai. The project covers a land parcel of approximately 3,924.91 sq. mtrs and has an estimated Gross Development Value (GDV) of Rs 250 crore. Notably, the company secured 100% unanimous consent from society members, which significantly reduces the risk of litigation and delays. This mandate strengthens the company's presence in the high-demand Mumbai suburban redevelopment market.

Estimated Gross Development Value (GDV) of approximately Rs 250 crore for the Borivali project.
Project involves a land parcel of approximately 3,924.91 sq. mtrs in a prime Mumbai micro-market.
Achieved 100% unanimous consent from society members, reflecting strong execution trust.
Successful completion of the 79A statutory procedure ensures compliance with redevelopment norms.

💡 Investors should view this as a positive growth indicator for the company's order book and market positioning in Mumbai. Monitor the project's regulatory approval timeline and its eventual impact on the company's revenue recognition cycles.

Modis Navnirman to Close Trading Window from January 1, 2026 for Q3 Results

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 30 Dec 2025, 03:55 PM

Modis Navnirman Limited has announced the closure of its trading window for all designated persons and directors starting January 1, 2026. This action is in compliance with SEBI (Prohibition of Insider Trading) Regulations, 2015, ahead of the financial results for the quarter ending December 31, 2025. The window will remain closed until 48 hours after the financial results are officially declared. The company will intimate the date of the Board Meeting for result approval in due course.

Trading window closure begins on January 1, 2026.
Closure applies to Directors, Designated Employees, and Persons as per SEBI regulations.
Window to remain shut until 48 hours after the declaration of Q3 financial results.
Board meeting date for the quarter ended December 31, 2025, to be announced later.

💡 No action is required as this is a routine regulatory filing. Investors should monitor for the upcoming board meeting date to evaluate the company's quarterly performance.

View All MODIS Announcements on Live Market Tracking →

💰 Financial Performance

Revenue Growth by Segment

The company operates in a single segment of Real Estate Development. Revenue from operations grew 49.7% YoY from INR 57.78 Cr in FY24 to INR 86.54 Cr in FY25. In H1 FY26, revenue surged 127.72% YoY to INR 83.39 Cr compared to INR 36.62 Cr in H1 FY25.

Geographic Revenue Split

100% of revenue is derived from the Mumbai region, specifically focused on redevelopment projects in the Western Suburbs such as Kandivali.

Profitability Margins

Net Profit Margin improved from 11.58% in FY24 to 14.15% in FY25. In H1 FY26, PAT margin stood at 14.33%, up from 12.12% in H1 FY25, driven by higher execution efficiency in projects like Rashmi Celestia and Rashmi Signature.

EBITDA Margin

EBITDA margin for H1 FY26 was 19.15%, representing a significant improvement from 16.22% in H1 FY25. Core profitability is rising due to the strategic focus on high-margin redevelopment mandates.

Capital Expenditure

The company follows an asset-light model; however, project-specific spends for H1 FY26 totaled INR 67.34 Cr. Planned CAPEX is focused on the pipeline of redevelopment projects rather than heavy fixed asset investment.

Credit Rating & Borrowing

The company is effectively debt-free as of H1 FY26. Long-term borrowings were reduced by 42% from INR 5.79 Cr in FY24 to INR 3.34 Cr in FY25, and further reduced to INR 1.00 Cr by September 2025. Interest costs are negligible at INR 0.01 Cr.

⚙️ Operational Drivers

Raw Materials

Construction materials including Steel, Cement, and Labor, which collectively represent approximately 77% of the total revenue as per H1 FY26 raw material expenses of INR 64.47 Cr.

Import Sources

Sourced locally within Maharashtra and India to support Mumbai-based construction projects.

Capacity Expansion

Current project portfolio includes 6 active projects (Rashmi Vasudeo, Celestia, Square, Signature, Delight, Manorath). Expansion includes a new INR 250 Cr redevelopment mandate in Mumbai won in January 2026.

Raw Material Costs

Raw material expenses (including inventory changes) were INR 64.47 Cr in H1 FY26, representing 77.3% of revenue. Costs increased 124.71% YoY in line with the 127% revenue growth, indicating stable procurement pricing.

Manufacturing Efficiency

Project execution efficiency is high, with the company achieving its entire FY25 profit (INR 12.25 Cr) within the first six months of FY26 (INR 12.01 Cr).

📈 Strategic Growth

Expected Growth Rate

100%

Growth Strategy

Growth will be achieved through the migration from BSE SME to the Main Board of BSE/NSE to attract institutional capital, a strategic merger with Shree Modis Navnirman Pvt. Ltd. to enhance scale, and a focus on the Mumbai redevelopment market, evidenced by the recent INR 250 Cr mandate win. The company plans to deliver one major project (Rashmi Celestia) in H2 FY26 to boost sales.

Products & Services

Residential apartments and commercial spaces primarily through the redevelopment of old housing societies.

Brand Portfolio

Modis Navnirman, Rashmi Heights, Rashmi Vasudeo, Rashmi Celestia, Rashmi Square, Rashmi Signature, Rashmi Delight, Rashmi Manorath.

New Products/Services

New redevelopment projects in Mumbai's western suburbs with an expected mandate value of INR 250 Cr.

Market Expansion

Migration to the Main Board to increase visibility and liquidity for future expansion across the Mumbai Metropolitan Region.

Strategic Alliances

Merger with Shree Modis Navnirman Private Limited to consolidate operations and brand value.

🌍 External Factors

Industry Trends

Shift toward organized and transparent developers due to RERA; Mumbai redevelopment is a high-growth niche due to land scarcity. Urbanization in India is expected to rise from 37% to 53% by 2050.

Competitive Landscape

Competes with other Mumbai-based developers in the redevelopment space; positioning is strengthened by the recent Main Board migration.

Competitive Moat

Moat is built on a debt-free balance sheet, specialized expertise in Mumbai's complex redevelopment regulations (BMC/RERA), and a strong track record of timely delivery which builds trust with housing societies.

Macro Economic Sensitivity

Highly sensitive to Indian real estate cycles and urbanization trends; sector expected to grow to USD 5-10 trillion by 2047.

Consumer Behavior

Increasing demand for premium housing and trusted developer brands in the post-pandemic Mumbai market.

Geopolitical Risks

Low direct impact; however, global commodity price fluctuations (steel/oil) indirectly affect construction costs.

⚖️ Regulatory & Governance

Industry Regulations

Operations are governed by RERA (Real Estate Regulatory Authority) and BMC (Brihanmumbai Corporation) building codes and approval processes.

Environmental Compliance

Establishing the Modi's Navnirman Foundation for sustainability and community development.

Taxation Policy Impact

Effective tax rate of approximately 25.1% in H1 FY26 (INR 4.03 Cr tax on INR 16.04 Cr PBT).

Legal Contingencies

The company has disclosed the impact of pending litigations in its financial statements as of March 31, 2025, though specific case values were not disclosed in the provided summary.