💰 Financial Performance

Revenue Growth by Segment

The company operates exclusively in the Real Estate Sector. Standalone revenue from operations for FY 2024-25 was INR 141.12 Lakhs, representing a slight decrease compared to the previous year's total income of INR 147.83 Lakhs. Consolidated revenue from operations for FY 2024-25 was INR 57.30 Lakhs.

Geographic Revenue Split

Not disclosed in available documents, though the company identifies Delhi NCR, Mumbai, Pune, Bengaluru, Chennai, and Tier-II/III cities as primary growth regions.

Profitability Margins

Net Profit Margin worsened from -19.14% in FY 2023-24 to -25.61% in FY 2024-25, a 34% increase in loss margin. Operating Profit Margin (EBITDA/Revenue) dropped significantly from 30.51% to 11.33%, a 63% decline YoY.

EBITDA Margin

Operating Profit Margin was 11.33% in FY 2024-25, down from 30.51% in FY 2023-24. This 63% decrease is attributed to a substantial increase in other expenses relative to revenue.

Capital Expenditure

Consolidated purchase of Property, Plant and Equipment was INR 0.58 Lakhs for the half-year ended September 30, 2025, compared to INR 39.06 Lakhs in the previous year's corresponding period.

Credit Rating & Borrowing

Not disclosed in available documents; however, consolidated current borrowings stood at INR 108.11 Lakhs as of September 30, 2025.

⚙️ Operational Drivers

Raw Materials

Land development and other related expenses are the primary cost drivers for the real estate operations.

Capacity Expansion

Not applicable in units; however, the company is expanding its strategic focus toward Tier-II and Tier-III cities to leverage government infrastructure pushes.

Raw Material Costs

Land development and related expenses were INR 0 for the half-year ended September 30, 2025, as the company focused on managing existing inventory and financial assets.

Manufacturing Efficiency

Not applicable to the real estate service sector.

📈 Strategic Growth

Growth Strategy

Growth is targeted through a focus on affordable housing and infrastructure development in Tier-II and III cities, supported by government initiatives like Pradhan Mantri Awas Yojana (PMAY) and AMRUT.

Products & Services

Residential and commercial real estate properties.

Brand Portfolio

Ravinder Heights, Radhika Heights.

New Products/Services

Affordable housing projects aligned with the PMAY scheme.

Market Expansion

Targeting Tier-II and Tier-III cities to capitalize on fast-paced growth outside major metropolitan areas.

Strategic Alliances

Operates through multiple subsidiaries including Radhika Heights Limited, Radicura Infra Limited, Sunanda Infra Limited, and Cabana Construction Private Limited.

🌍 External Factors

Industry Trends

The industry is shifting toward affordable housing and sustainable development, driven by government reforms and technological advancements in construction.

Competitive Landscape

Faces competition from major players in metropolitan areas like Delhi NCR, Mumbai, and Bengaluru.

Competitive Moat

Moat is based on the 'unmatched brand, experience and expertise' in the real estate sector, though sustainability is challenged by high competition and regulatory risks.

Macro Economic Sensitivity

Highly sensitive to interest rate fluctuations which affect home loan affordability and demand, as well as GDP growth in India.

Consumer Behavior

Increasing consumer demand for affordable housing and properties in Tier-II/III cities due to improved infrastructure.

⚖️ Regulatory & Governance

Industry Regulations

Operations are governed by the Real Estate (Regulation and Development) Act (RERA), PMAY guidelines, and local municipal building norms.

Environmental Compliance

Exposed to environmental regulatory risks which could impact project timelines and compliance costs.

Taxation Policy Impact

Consolidated net direct taxes paid were INR 334.93 Lakhs for the half-year ended September 30, 2025.

⚠️ Risk Analysis

Key Uncertainties

Key risks include credit risk, liquidity risk, and counterparty risk, which could impact the company's ability to navigate future developments effectively.

Geographic Concentration Risk

Strategic focus on specific geographical segments exposes the company to localized economic and market fluctuations.

Third Party Dependencies

Significant dependency on other auditors for the review of five subsidiaries which account for INR 5,500.11 Lakhs in revenue.

Technology Obsolescence Risk

Implementing digital HR solutions like Employee Self-Service (ESS) to mitigate administrative inefficiencies.

Credit & Counterparty Risk

Consolidated trade receivables stood at INR 0.67 Lakhs as of September 30, 2025, indicating low current credit exposure but potential risk in future project sales.