VIPULLTD
Vipul financials
- Market cap
- ₹176 Cr
- Sector
- Realty
What Vipul Limited does
Vipul Limited is a real estate developer whose business is concentrated on Golf Course Road and other sectors of Gurugram, with additional projects in Bhubaneswar, Ludhiana, Bawal and Faridabad. It develops and sells integrated townships, group-housing and luxury apartments, independent floors/villas, and retail and office space, monetising a land bank it holds across these North Indian locations. The company has been developing and delivering residential and commercial projects in Gurugram since 2000, including its flagship Aarohan township on Golf Course Road.
Segments
- Integrated townships
- Group housing & luxury apartments
- Independent floors & lavish villas
- Retail & office space
- Land bank
- 220 acres across Gurugram, Ludhiana, Bhubaneswar & Bawal (>75% Gurugram-based)
- Cumulative area delivered
- ~12 mn sq. ft.
- Ongoing projects
- 12, spanning ~65 lakh sq. ft. across Gurugram, Ludhiana, Bhubaneswar, Bawal & Faridabad (as of Sep-2018)
- Area under construction
- ~2 mn sq. ft.
- Unsold inventory in ongoing projects
- ~4.23 lakh sq. ft. (as of Sep-2018)
- Projects delivered in Gurugram
- 19 (cumulative ~9.33 mn sq. ft. sold)
Quarterly results
Q3 FY26: revenue down 14.7%, net profit down 78.7% against the same quarter last year.
| Line item | Q4 FY24 | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 24 | 15 | 15 | 11 | 40 +68% | 2 −89% | 8 −47% | 9 −15% |
| EBITDA | 13 | 3 | 5 | 2 | -23 −281% | -12 −474% | -3 −154% | -1 −154% |
| Net profit | 204 | 2 | 2 | 5 | -31 −115% | -1 −145% | 0 −93% | 1 −79% |
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 +23.5% 1Y
1Y: ₹10.5 on 10 Sept 2025 → ₹12.97. High ₹17.81 (13 Jul 2026), low ₹7.46 (3 Dec 2025).
Financials, as filed
Revenue fell 52.2% a year over 1 year, FY24 to FY25. Operating margin narrowed to -14.8%.
| Year ending | FY24 | FY25 |
|---|---|---|
| Revenue | ₹170 Cr | ₹81 Cr |
| Operating profit | ₹81 Cr | ₹-12 Cr |
| Operating margin | 47.7% | -14.8% |
| Interest | ₹20 Cr | ₹22 Cr |
| Depreciation | ₹1 Cr | ₹1 Cr |
| Net profit | ₹247 Cr | ₹-22 Cr |
| Net margin | 145.5% | -27.0% |
| Cash from operations | ₹-86 Cr | ₹17 Cr |
| Free cash flow | ₹-79 Cr | ₹17 Cr |
| ROCE | 70.0% | 0.0% |
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 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|
| Equity capital | ₹12 Cr | ₹12 Cr | ₹12 Cr | ₹12 Cr | ₹12 Cr | ₹14 Cr |
| Reserves | ₹364 Cr | ₹315 Cr | ₹288 Cr | ₹94 Cr | ₹341 Cr | ₹366 Cr |
| Borrowings | ₹616 Cr | ₹607 Cr | ₹576 Cr | ₹239 Cr | ₹173 Cr | ₹80 Cr |
| Other liabilities | ₹653 Cr | ₹698 Cr | ₹707 Cr | ₹757 Cr | ₹727 Cr | ₹757 Cr |
| Total liabilities | ₹1.6k Cr | ₹1.6k Cr | ₹1.6k Cr | ₹1.1k Cr | ₹1.3k Cr | ₹1.2k Cr |
| Fixed assets | ₹4 Cr | ₹4 Cr | ₹3 Cr | ₹3 Cr | ₹4 Cr | ₹3 Cr |
| Capital work in progress | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr | ₹0 Cr |
| Investments | ₹24 Cr | ₹24 Cr | ₹24 Cr | ₹11 Cr | ₹11 Cr | ₹12 Cr |
| Other assets | ₹1.6k Cr | ₹1.6k Cr | ₹1.6k Cr | ₹1.1k Cr | ₹1.2k Cr | ₹1.2k Cr |
| Total assets | ₹1.6k Cr | ₹1.6k Cr | ₹1.6k Cr | ₹1.1k Cr | ₹1.3k Cr | ₹1.2k 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 −2.80 pp while DIIs added +2.02 pp. The shareholder count shrank 10% to 27,971.
- Promoters
- 18.3%
- FIIs
- 10.4%
- DIIs
- 2.6%
- Public
- 68.7%
Since Jun 2025
- Public −2.80 pp
- DIIs +2.02 pp
- FIIs +0.77 pp
How it drifted, 12 quarters
Over this window promoters fell from 63.4% to 18.3% — −45.2 pp.
Ownership split by quarter, oldest first. Sep '23: Promoters 63.4%, Public 36.6%.Dec '23: Promoters 63.4%, Public 36.6%.Mar '24: Promoters 60.5%, FIIs 0.2%, Public 39.3%.Jun '24: Promoters 51.5%, FIIs 1.9%, DIIs 2.6%, Public 44.0%.Sep '24: Promoters 31.0%, FIIs 7.2%, DIIs 0.5%, Public 61.2%.Dec '24: Promoters 20.3%, FIIs 6.1%, DIIs 2.6%, Public 70.9%.Mar '25: Promoters 18.3%, FIIs 7.3%, DIIs 0.6%, Public 73.9%.Jun '25: Promoters 18.3%, FIIs 9.7%, DIIs 0.6%, Public 71.5%.Sep '25: Promoters 18.3%, FIIs 8.8%, DIIs 0.4%, Public 72.5%.Dec '25: Promoters 18.3%, FIIs 11.3%, DIIs 1.5%, Public 69.0%.Mar '26: Promoters 18.3%, FIIs 13.2%, DIIs 1.7%, Public 66.9%.Jun '26: Promoters 18.3%, FIIs 10.4%, DIIs 2.6%, Public 68.7%.
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.
- Mohammad Ashraf Qureshi newly disclosed 1.99% held
- Bal Krishan Chhabra newly disclosed 1.37% held
- Campbell Advertising Private Limited . +1.03 pp 2.77% held
The same filing shows 2 holders trimming and 3 off the list — both are in the register beside this.
Who is on the register
Named in the Jun 2026 filing
Every holder of Vipul Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| Punit Beriwala Huf | 6.98% | unchanged |
| Shyam Sunder Beriwala | 6.26% | unchanged |
| Moneyplant Gold & Jewellery Trading L.L.C Corporate | 5.71% | −1.83 pp |
| Punit Beriwala | 2.96% | unchanged |
| Campbell Advertising Private Limited . | 2.77% | +1.03 pp |
| Ashish Begwani | 2.65% | unchanged |
| Zeta Global Funds (Oeic) Pcc Limited-Zeta Series B Fund Pc FPI fund | 2.48% | unchanged |
| Sunita Beriwala | 2.05% | unchanged |
| Mohammad Ashraf Qureshi | 1.99% | newly disclosed |
| Algoquant Fintech Limited | 1.89% | unchanged |
| Expertpro Realty Private Limited | 1.88% | −0.83 pp |
| Rajasthan Global Securities Private Limited NBFC / DFI | 1.66% | 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 Vipul Limited
Guides on how to read this kind of business and the numbers that matter.