538668
Meghna Infracon share price & financials
- Price
- ₹759.5
- Market cap
- ₹1.5k Cr
- Sector
- Realty
- Calls analysed
- 1
Meghna Infracon Q4 FY26
What went well
- FY26 Revenue from operations grew 15.84% YoY to INR 46.2 crores, demonstrating healthy business expansion.
- Q4 FY26 Revenue from operations surged 52.47% YoY to INR 18.48 crores, indicating strong quarterly performance.
- FY26 Collections increased by 36.69% YoY to INR 24.92 crores, reflecting robust customer traction and monetization.
What to watch
- FY26 PAT declined 4.28% YoY to INR 5.59 crores, impacted by business model transition and initial project lifecycle costs.
- FY26 EBITDA margin compressed from 29% to 22%, due to larger costs incurred for speed and acquisition pipeline expenses.
What Meghna Infracon does
Meghna Infracon Infrastructure Limited (formerly Naysaa Securities Limited) develops residential real estate in Mumbai's western suburbs under the Meghna Realty brand, using an asset-light, redevelopment-led model that converts existing housing societies into new low-density, design-led buildings rather than acquiring greenfield land. It earns by selling redeveloped residential units through a mix of owned developments and partnerships with architects and consultants, concentrated in the Goregaon, Andheri, Versova and Kandivali micro-markets. The company is now extending this model into Bandra, Juhu, Thane, Dadar/Prabhadevi and South Mumbai, and has one upcoming project (Meghna-One, Thane) positioned as a commercial IT Park, marking an early step beyond pure residential redevelopment.
Segments
- Residential Real Estate Development
- Commercial / IT Park Development
- Ongoing projects
- 5 projects (Riviera, Manju Villa, Rivaan, Shree Pranaam, Josville) across ~2,90,000 sq. ft.
- Total units across ongoing projects
- 252
- Redeveloped area completed (FY26)
- 140,925 sq. ft.
- Cumulative area delivered to date
- 1.2+ million sq. ft. across Mumbai
- Upcoming project pipeline
- 11 projects across ~14,14,500 sq. ft.
- Promoter experience in real estate
- 50+ years
Guidance record · Q4 FY26
what the last two calls moved 8 tracked 0 delivered 0 missed 8 open- Total GDV open said Q4 FY26 Promised: Double the INR 2,100 crores GDV over the next two years Q4 FY26: Management stated they are 'looking to at least double' the current INR 2,100 crores GDV 'over the next two years'.
All 8 tracked — every revision, and every one management stopped mentioning.
Open the guidance ledgerQuarterly results
Q1 FY27: revenue down 19.5%, net profit down 62.7% against the same quarter last year.
| Line item | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 3 | 10 | 12 | 10 | 9 +167% | 8 −15% | 18 +52% | 8 −19% |
| EBITDA | 1 | 5 | 4 | 2 | 1 +155% | 4 −17% | 3 −27% | 1 −55% |
| Net profit | 0 | 4 | 4 | 2 | 1 +400% | 1 −70% | 2 −57% | 1 −63% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Performance +24.7% 1Y
1Y: ₹552.7 on 10 Sept 2025 → ₹689. High ₹794.05 (27 May 2026), low ₹495.7 (6 Oct 2025).
How the price took the results
close before → close after
- Q4 FY26
- +0.5%
- 27 May
The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.
Financials, as filed
Revenue fell 7.1% a year over 2 years, FY24 to FY26. Operating margin widened to 22.2%.
| Year ending | FY24 | FY25 | FY26 |
|---|---|---|---|
| Revenue | ₹54 Cr | ₹40 Cr | ₹46 Cr |
| Operating profit | ₹1 Cr | ₹11 Cr | ₹10 Cr |
| Operating margin | 2.6% | 28.4% | 22.2% |
| Interest | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Depreciation | ₹0 Cr | ₹0 Cr | ₹1 Cr |
| Net profit | ₹3 Cr | ₹10 Cr | ₹6 Cr |
| Net margin | 6.0% | 24.5% | 12.1% |
| Cash from operations | ₹0 Cr | ₹18 Cr | ₹-25 Cr |
| Free cash flow | ₹0 Cr | ₹17 Cr | ₹-26 Cr |
| ROCE | — | 70.1% | 31.3% |
How to read this
From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.
Balance sheet
| Year ending | FY24 | FY25 | FY26 |
|---|---|---|---|
| Equity capital | ₹11 Cr | ₹22 Cr | ₹22 Cr |
| Reserves | ₹2 Cr | ₹3 Cr | ₹6 Cr |
| Borrowings | ₹2 Cr | ₹7 Cr | ₹22 Cr |
| Other liabilities | ₹6 Cr | ₹13 Cr | ₹8 Cr |
| Total liabilities | ₹21 Cr | ₹44 Cr | ₹58 Cr |
| Fixed assets | ₹0 Cr | ₹1 Cr | ₹2 Cr |
| Capital work in progress | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Investments | ₹0 Cr | ₹1 Cr | ₹1 Cr |
| Other assets | ₹21 Cr | ₹42 Cr | ₹56 Cr |
| Total assets | ₹21 Cr | ₹44 Cr | ₹58 Cr |
How to read this
As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.
Who owns it
As disclosed at Jun 2026
Since Jun 2025, the public trimmed −0.81 pp while FIIs added +0.72 pp. The shareholder count shrank 5% to 2,520.
- Promoters
- 47.0%
- FIIs
- 8.0%
- Public
- 45.0%
Since Jun 2025
- Public −0.81 pp
- FIIs +0.72 pp
- Promoters +0.09 pp
How it drifted, 12 quarters
Over this window the public fell from 53.1% to 45.0% — −8.1 pp.
Ownership split by quarter, oldest first. Sep '23: Promoters 46.9%, Public 53.1%.Dec '23: Promoters 46.9%, Public 53.1%.Mar '24: Promoters 46.9%, FIIs 0.2%, Public 52.9%.Jun '24: Promoters 46.9%, FIIs 0.8%, Public 52.3%.Sep '24: Promoters 46.9%, FIIs 0.9%, Public 52.2%.Dec '24: Promoters 46.9%, FIIs 1.9%, Public 51.1%.Mar '25: Promoters 46.9%, FIIs 1.9%, Public 51.1%.Jun '25: Promoters 46.9%, FIIs 7.3%, Public 45.8%.Sep '25: Promoters 46.9%, FIIs 7.8%, Public 45.2%.Dec '25: Promoters 46.9%, FIIs 7.8%, Public 45.2%.Mar '26: Promoters 47.0%, FIIs 7.9%, Public 45.1%.Jun '26: Promoters 47.0%, FIIs 8.0%, Public 45.0%.
Who bought this quarter
since Mar 2026
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
- Patel Jatinkumar newly disclosed 1.10% held
The same filing shows 2 holders trimming and 0 off the list — both are in the register beside this.
Who is on the register
Named in the Jun 2026 filing
Every holder of Meghna Infracon above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| Vikram Jayantilal Lodha | 26.55% | unchanged |
| Meghna Vikram Lodha | 7.33% | unchanged |
| Naysaa Vikram Lodha | 6.07% | unchanged |
| Ishaan Vikram Lodha | 6.00% | unchanged |
| Khushbu Arjunbhai Padhiyar | 3.03% | unchanged |
| Zeta Global Funds (Oeic) Pcc Limited-Zeta Series B Fund Pc FPI fund | 2.88% | unchanged |
| Venus Investments Vcc - Venus Stellar Fund FPI fund | 2.38% | unchanged |
| Piyush Securities Private Limited | 1.98% | −0.06 pp |
| Jaykumar Pitambarbhai Chauhan | 1.84% | unchanged |
| Nilesh Kishanbhai Pandya | 1.70% | unchanged |
| Devang Jani | 1.32% | unchanged |
| B B Commercial Limited | 1.22% | −0.67 pp |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
Learn to analyse Meghna Infracon
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