DBREALTY
Valor Estate share price & financials
- Price
- ₹119.5
- Market cap
- ₹5.3k Cr
- Sector
- Realty
What Valor Estate Limited does
Valor Estate Limited (formerly D B Realty), founded in 2007, aggregates and entitles land in the Mumbai Metropolitan Region and Lonavala, then monetizes it through joint development agreements, joint ventures and profit-share/revenue-share arrangements with partner developers rather than executing construction itself. It earns from residential unit sales (own and JV-share), commercial leasing/annuity income from build-to-lease assets, and land monetization/exit proceeds. Following an NCLT-approved demerger effective April 2025, its separately listed hospitality business (Goa hotel, Delhi Aerocity project) was transferred to Advent Hotels International, leaving Valor focused solely on residential and commercial development in Mumbai.
Segments
- Residential
- Commercial & Retail
- Owned land bank in MMR & Lonavala
- 513+ acres
- Prime sites across MMR core zones
- 25+
- Total project portfolio (ongoing + upcoming + pipeline)
- 20 projects (~35.5 msf saleable/leasable area)
- Ongoing residential projects
- 2 projects, ~4.1 msf saleable area
- Upcoming residential projects
- 6 projects, ~17.8 msf saleable area
- Forthcoming residential projects (pipeline)
- 6 projects, ~6.8 msf saleable area
Quarterly results
Q1 FY27: revenue down 86.8%, net profit down 109.7% 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 | 330 | 537 | 840 | 137 +3832% | 529 +61% | 87 −84% | 111 −87% |
| EBITDA | -178 | 18 | -23 | -30 | 42 +124% | 90 +403% | -79 −248% | 23 +177% |
| Net profit | -111 | 8 | -2 | 14 | 10 +109% | 62 +685% | -59 −3725% | -1 −110% |
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 −43.5% 1Y
1Y: ₹173.01 on 10 Sept 2025 → ₹97.79. High ₹179.74 (22 Sept 2025), low ₹83.97 (30 Mar 2026).
Financials, as filed
Revenue grew 31.7% a year over 3 years, FY23 to FY26. Operating margin widened to 1.5%.
| Year ending | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Revenue | ₹698 Cr | ₹357 Cr | ₹877 Cr | ₹1.6k Cr |
| Operating profit | ₹-721 Cr | ₹150 Cr | ₹-191 Cr | ₹24 Cr |
| Operating margin | -103.3% | 41.9% | -21.8% | 1.5% |
| Interest | ₹54 Cr | ₹83 Cr | ₹47 Cr | ₹99 Cr |
| Depreciation | ₹0 Cr | ₹26 Cr | ₹15 Cr | ₹6 Cr |
| Net profit | ₹-91 Cr | ₹1.3k Cr | ₹-118 Cr | ₹27 Cr |
| Net margin | -13.1% | 368.5% | -13.5% | 1.7% |
| Cash from operations | ₹96 Cr | ₹237 Cr | ₹540 Cr | ₹939 Cr |
| Free cash flow | ₹95 Cr | ₹184 Cr | ₹436 Cr | ₹925 Cr |
| ROCE | -11.0% | 22.0% | -1.0% | 2.0% |
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 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹243 Cr | ₹259 Cr | ₹352 Cr | ₹538 Cr | ₹539 Cr | ₹542 Cr |
| Reserves | ₹1.1k Cr | ₹1.6k Cr | ₹1.8k Cr | ₹4.5k Cr | ₹3.5k Cr | ₹3.5k Cr |
| Borrowings | ₹2.5k Cr | ₹3.7k Cr | ₹3.0k Cr | ₹2.2k Cr | ₹995 Cr | ₹747 Cr |
| Other liabilities | ₹3.5k Cr | ₹3.2k Cr | ₹3.3k Cr | ₹1.9k Cr | ₹2.1k Cr | ₹1.5k Cr |
| Total liabilities | ₹7.3k Cr | ₹8.8k Cr | ₹8.4k Cr | ₹9.2k Cr | ₹7.1k Cr | ₹6.4k Cr |
| Fixed assets | ₹153 Cr | ₹75 Cr | ₹72 Cr | ₹2.4k Cr | ₹4 Cr | ₹161 Cr |
| Capital work in progress | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹10 Cr | ₹14 Cr | ₹0 Cr |
| Investments | ₹1.4k Cr | ₹1.6k Cr | ₹1.7k Cr | ₹800 Cr | ₹606 Cr | ₹365 Cr |
| Other assets | ₹5.8k Cr | ₹7.1k Cr | ₹6.6k Cr | ₹5.9k Cr | ₹6.5k Cr | ₹5.8k Cr |
| Total assets | ₹7.3k Cr | ₹8.8k Cr | ₹8.4k Cr | ₹9.2k Cr | ₹7.1k Cr | ₹6.4k 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 added +1.04 pp while FIIs trimmed −0.67 pp. The shareholder count shrank 4% to 86,800.
- Promoters
- 47.2%
- FIIs
- 4.8%
- DIIs
- 0.4%
- Public
- 47.6%
Since Jun 2025
- Public +1.04 pp
- FIIs −0.67 pp
- Promoters −0.26 pp
How it drifted, 12 quarters
Over this window promoters fell from 53.8% to 47.2% — −6.7 pp.
Ownership split by quarter, oldest first. Sep '23: Promoters 53.8%, FIIs 2.2%, DIIs 0.0%, Public 44.0%.Dec '23: Promoters 50.9%, FIIs 2.1%, DIIs 0.1%, Public 46.9%.Mar '24: Promoters 47.4%, FIIs 5.2%, DIIs 0.5%, Public 46.9%.Jun '24: Promoters 47.4%, FIIs 3.6%, DIIs 0.4%, Public 48.6%.Sep '24: Promoters 47.4%, FIIs 3.5%, DIIs 0.4%, Public 48.8%.Dec '24: Promoters 47.4%, FIIs 3.6%, DIIs 0.4%, Public 48.6%.Mar '25: Promoters 47.4%, FIIs 4.7%, DIIs 0.4%, Public 47.6%.Jun '25: Promoters 47.4%, FIIs 5.5%, DIIs 0.5%, Public 46.6%.Sep '25: Promoters 47.4%, FIIs 5.2%, DIIs 0.5%, Public 46.9%.Dec '25: Promoters 47.5%, FIIs 5.0%, DIIs 0.4%, Public 47.1%.Mar '26: Promoters 47.2%, FIIs 5.1%, DIIs 0.3%, Public 47.5%.Jun '26: Promoters 47.2%, FIIs 4.8%, DIIs 0.4%, Public 47.6%.
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.
- KVN Productions LLP +0.18 pp 2.31% held
- Mukul Mahavir Agrawal +0.10 pp 1.57% held
- Fulfill Realty Pvt Ltd newly disclosed 0.00% held
- UBF Re Developers LLP newly disclosed 0.00% held
The same filing shows 0 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 Valor Estate Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| Aseela Goenka Sunita Goenka Alok Agarwal Trustee of Goenka Family Trust | 13.04% | unchanged |
| Neelkamal Tower Construction LLP | 12.32% | unchanged |
| SB Fortune Realty Private Limited | 10.83% | unchanged |
| Razack Family Trust | 6.31% | unchanged |
| Sanjana Vinod Goenka | 4.13% | unchanged |
| Aseela Vinod Goenka | 2.97% | unchanged |
| Rekha Jhunjhunwala - 2 | 2.77% | unchanged |
| Jayvardhan Vinod Goenka | 2.51% | unchanged |
| KVN Productions LLP | 2.31% | +0.18 pp |
| Mukul Mahavir Agrawal | 1.57% | +0.10 pp |
| Vinod K. Goenka | 0.49% | unchanged |
| V S Erectors And Builders Private Limited | 0.33% | unchanged |
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 Valor Estate Limited
Guides on how to read this kind of business and the numbers that matter.