GIRIRAJ
Giriraj Civil financials
- Market cap
- ₹202 Cr
- Sector
- Construction
What Giriraj Civil does
Giriraj Civil Developers Limited is engaged in civil construction, undertaking projects both directly and through partnership arrangements with other contracting firms. Rather than operating subsidiaries, the company holds equity stakes ranging from 25% to 70% in seven active project joint ventures alongside partners such as Prime-Giriraj-KK, Dev Engineers-Giriraj, R.K. Madani & Giriraj and others, sharing execution and risk on individual contracts. The company has no subsidiary or associate company of its own.
Segments
- Civil construction / contracting
- Active project joint ventures
- 7
- Joint venture partners
- Prime-Giriraj-KK, Dev Engineers-Giriraj, R.K. Madani & Giriraj, MBPL-GCDL, GCDL-SMBIPL, Giriraj GSEPL Consortium, Giriraj-KK
Quarterly results
Q4 FY26: revenue up 74.2%, net profit down 11.1% against the same quarter last year.
| Line item | Q2 FY23 | Q4 FY23 | Q2 FY24 | Q4 FY24 | Q2 FY25 | Q4 FY25 | Q2 FY26 | Q4 FY26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 33 | 62 | 42 | 93 | 72 +118% | 223 +260% | 134 +219% | 162 +74% |
| EBITDA | 3 | 4 | 4 | 11 | 4 +33% | 20 +400% | 11 +175% | 13 +18% |
| Net profit | 2 | 3 | 2 | 9 | 3 +50% | 15 +400% | 7 +250% | 8 −11% |
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 −73.1% 1Y
1Y: ₹314.7 on 10 Sept 2025 → ₹84.5. High ₹377 (25 Sept 2025), low ₹53.5 (7 Aug 2026).
Balance sheet
| Year ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹3 Cr | ₹3 Cr | ₹4 Cr | ₹24 Cr | ₹24 Cr | ₹24 Cr |
| Reserves | ₹27 Cr | ₹31 Cr | ₹56 Cr | ₹89 Cr | ₹114 Cr | ₹122 Cr |
| Borrowings | ₹15 Cr | ₹18 Cr | ₹20 Cr | ₹10 Cr | ₹10 Cr | ₹22 Cr |
| Other liabilities | ₹32 Cr | ₹32 Cr | ₹31 Cr | ₹46 Cr | ₹113 Cr | ₹79 Cr |
| Total liabilities | ₹76 Cr | ₹84 Cr | ₹111 Cr | ₹169 Cr | ₹260 Cr | ₹247 Cr |
| Fixed assets | ₹1 Cr | ₹1 Cr | ₹9 Cr | ₹10 Cr | ₹12 Cr | ₹11 Cr |
| Capital work in progress | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Investments | ₹26 Cr | ₹23 Cr | ₹2 Cr | ₹12 Cr | ₹6 Cr | ₹2 Cr |
| Other assets | ₹50 Cr | ₹61 Cr | ₹101 Cr | ₹148 Cr | ₹243 Cr | ₹233 Cr |
| Total assets | ₹76 Cr | ₹84 Cr | ₹111 Cr | ₹169 Cr | ₹260 Cr | ₹247 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 Mar 2026
Since Mar 2025, promoters added +3.86 pp while the public trimmed −3.86 pp. The shareholder count grew 20% to 487.
- Promoters
- 55.0%
- Public
- 45.0%
Since Mar 2025
- Promoters +3.86 pp
- Public −3.86 pp
How it drifted, 12 quarters
Over this window promoters fell from 59.6% to 55.0% — −4.6 pp.
Ownership split by quarter, oldest first. Mar '21: Promoters 59.6%, Public 40.4%.Sep '21: Promoters 59.6%, Public 40.4%.Mar '22: Promoters 64.2%, Public 35.8%.Sep '22: Promoters 69.2%, Public 30.8%.Mar '23: Promoters 55.5%, Public 44.5%.Sep '23: Promoters 55.5%, Public 44.5%.Oct '23: Promoters 51.1%, Public 48.9%.Mar '24: Promoters 51.1%, Public 48.9%.Sep '24: Promoters 51.1%, Public 48.9%.Mar '25: Promoters 51.1%, Public 48.9%.Sep '25: Promoters 51.1%, Public 48.9%.Mar '26: Promoters 55.0%, Public 45.0%.
Who bought this quarter
since Sep 2025
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
- Krushang Mahesh Shah +3.86 pp 41.44% held
- Snehal Shripal Shah newly disclosed 2.11% held
- Mahesh Kantilal Shah +1.75 pp 5.51% held
The same filing shows 3 holders trimming and 2 off the list — both are in the register beside this.
Who is on the register
Named in the Mar 2026 filing
Every holder of Giriraj Civil above SEBI's 1% disclosure line, and what changed since Sep 2025.
| Holder | Stake | Change |
|---|---|---|
| Krushang Mahesh Shah | 41.44% | +3.86 pp |
| Tanuja Narendra Agrawal | 16.72% | unchanged |
| Wisdom Packaging Private Limited | 6.89% | unchanged |
| Mahesh Kantilal Shah | 5.51% | +1.75 pp |
| Mamta Mahesh Shah | 4.02% | unchanged |
| Mahesh Kantilal Shah - 2 | 3.76% | −1.75 pp |
| Chips And Bytes India Private Limited | 3.66% | unchanged |
| Snehal Shripal Shah | 2.11% | newly disclosed |
| Narendra Singh Kesarsingh Kachhawah | 1.93% | unchanged |
| Jitendra Raichand Mehta | 1.83% | unchanged |
| Prasham Nitin Shah | 1.75% | −0.71 pp |
| Narendra Bankeybihari Agarwal | 1.63% | 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 Giriraj Civil
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