HBESD
HB Estate Developers financials
- Market cap
- ₹157 Cr
- Sector
- Realty
What HB Estate Developers Limited does
HB Estate Developers Limited's principal operating asset is a hotel property, "Taj City Centre - Gurugram", located at Plot No. 1, Sector 44, Gurugram, Haryana, which is operated and managed by The Indian Hotels Company Limited under the Taj brand. The company itself does not run the hotel day-to-day but holds and earns from this hospitality asset. It has no subsidiaries or joint ventures, and holds an associate-company stake in Parsvnath HB Projects Pvt. Ltd.
Segments
- Hospitality (Hotel Unit)
- Hotel properties
- 1 (Taj City Centre, Gurugram)
- Employees on company rolls
- 17
- Employees on Hotel Unit rolls
- 243
- Total employees (company + Hotel Unit)
- 260
- Subsidiaries
- 0
- Joint ventures
- 0
Quarterly results
Q1 FY27: revenue up 16.8%, net profit up 305.3% 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 | 27 | 31 | 33 | 24 | 27 −2% | 33 +7% | 33 −1% | 28 +17% |
| EBITDA | 8 | 13 | 13 | 7 | 8 −4% | 15 +19% | 11 −18% | 7 +14% |
| Net profit | 0 | 5 | 5 | 0 | 1 +159% | 7 +35% | 4 −22% | 2 +305% |
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 −17.5% 1Y
1Y: ₹87.84 on 10 Sept 2025 → ₹72.5. High ₹102.4 (18 Sept 2025), low ₹57.1 (30 Mar 2026).
Financials, as filed
Revenue grew 3.4% a year over 2 years, FY24 to FY26. Operating margin narrowed to 34.8%.
| Year ending | FY24 | FY25 | FY26 |
|---|---|---|---|
| Revenue | ₹109 Cr | ₹118 Cr | ₹117 Cr |
| Operating profit | ₹39 Cr | ₹43 Cr | ₹41 Cr |
| Operating margin | 35.5% | 36.6% | 34.8% |
| Interest | ₹26 Cr | ₹22 Cr | ₹16 Cr |
| Depreciation | ₹7 Cr | ₹8 Cr | ₹8 Cr |
| Net profit | ₹4 Cr | ₹11 Cr | ₹12 Cr |
| Net margin | 3.6% | 9.2% | 10.0% |
| Cash from operations | ₹49 Cr | ₹35 Cr | ₹45 Cr |
| Free cash flow | ₹46 Cr | ₹29 Cr | ₹44 Cr |
| ROCE | 7.0% | 8.0% | 8.0% |
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 | ₹20 Cr | ₹20 Cr | ₹20 Cr | ₹20 Cr | ₹22 Cr | ₹23 Cr |
| Reserves | ₹154 Cr | ₹138 Cr | ₹126 Cr | ₹129 Cr | ₹157 Cr | ₹170 Cr |
| Borrowings | ₹328 Cr | ₹347 Cr | ₹331 Cr | ₹311 Cr | ₹268 Cr | ₹258 Cr |
| Other liabilities | ₹28 Cr | ₹25 Cr | ₹29 Cr | ₹34 Cr | ₹39 Cr | ₹39 Cr |
| Total liabilities | ₹529 Cr | ₹530 Cr | ₹505 Cr | ₹494 Cr | ₹487 Cr | ₹491 Cr |
| Fixed assets | ₹422 Cr | ₹416 Cr | ₹411 Cr | ₹406 Cr | ₹402 Cr | ₹398 Cr |
| Capital work in progress | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Investments | ₹2 Cr | ₹3 Cr | ₹3 Cr | ₹3 Cr | ₹2 Cr | ₹2 Cr |
| Other assets | ₹105 Cr | ₹111 Cr | ₹91 Cr | ₹85 Cr | ₹83 Cr | ₹91 Cr |
| Total assets | ₹529 Cr | ₹530 Cr | ₹505 Cr | ₹494 Cr | ₹487 Cr | ₹491 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, promoters trimmed −4.23 pp while the public added +4.23 pp. The shareholder count shrank 1% to 65,165.
- Promoters
- 67.8%
- DIIs
- 0.0%
- Public
- 32.2%
Since Jun 2025
- Promoters −4.23 pp
- Public +4.23 pp
- DIIs −0.01 pp
How it drifted, 12 quarters
Over this window promoters fell from 69.1% to 67.8% — −1.4 pp.
Ownership split by quarter, oldest first. Sep '23: Promoters 69.1%, DIIs 0.0%, Public 30.9%.Dec '23: Promoters 69.1%, DIIs 0.0%, Public 30.9%.Mar '24: Promoters 69.1%, DIIs 0.0%, Public 30.9%.Jun '24: Promoters 69.1%, DIIs 0.0%, Public 30.9%.Sep '24: Promoters 69.1%, DIIs 0.0%, Public 30.9%.Dec '24: Promoters 69.1%, DIIs 0.0%, Public 30.9%.Mar '25: Promoters 72.0%, DIIs 0.0%, Public 28.0%.Jun '25: Promoters 72.0%, DIIs 0.0%, Public 28.0%.Sep '25: Promoters 69.7%, DIIs 0.0%, Public 30.3%.Dec '25: Promoters 67.4%, DIIs 0.0%, Public 32.6%.Mar '26: Promoters 67.4%, DIIs 0.0%, Public 32.6%.Jun '26: Promoters 67.8%, DIIs 0.0%, Public 32.2%.
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.
- Rima Arora +0.33 pp 1.99% 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 HB Estate Developers Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| Lalit Bhasin | 47.75% | unchanged |
| H B Portfolio Limited NBFC / DFI | 9.17% | unchanged |
| Investor Education And Protection Fund Authority Ministry Of Corporate Affairs | 4.91% | unchanged |
| Hb Stockholdings Limited NBFC / DFI | 4.90% | unchanged |
| Neha Jain | 3.27% | unchanged |
| Meridian Securities Private Limited | 3.27% | unchanged |
| Rima Arora | 1.99% | +0.33 pp |
| Minaxi Jain | 1.50% | unchanged |
| Mamta kapur | 1.48% | unchanged |
| Deepak Jain | 1.10% | unchanged |
| R R B Securities Ltd Corporate | 0.67% | unchanged |
| Manasvin Arora | 0.39% | 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 HB Estate Developers Limited
Guides on how to read this kind of business and the numbers that matter.