Pranav Constructions Limited is a Mumbai-based real estate company focused on redevelopment projects in the MCGM Region, mainly across the Western Suburbs. Since 2012, the Company has been undertaking redevelopment projects, focusing on Economical, Mid & Mass, and Aspirational homes.
The Company had 28 completed, 20 under-construction, and 17 upcoming redevelopment projects as of March 31, 2026, with a combined developable area of approximately 5.01 million sq. ft.
Pranav Constructions has established a strong presence in Mumbai’s redevelopment market, ranking 1st in the Western Suburbs based on completed and under-construction MCGM redevelopment projects. Between CY17 and Q1 CY26, it had 34 projects comprising 1,864 units, while between CY21 and Q1 CY26, it ranked 1st with 27 projects and 1,517 units.
The Company’s portfolio includes 3,323 residential and 383 commercial units, totalling 3,706 units.
The Company has in-house expertise across key functions, supported by 198 employees, including 25 architects, enabling end-to-end project execution and timely completion.
Pranav Constructions IPO – Details
| IPO Opening Date | 07 September 2026 |
| IPO Closing Date | 09 September 2026 |
| Issue Type | Book Built Issue IPO |
| Issue Size | Total Issue Size: 2,83,08,481 Shares Worth ₹351.03 Crore Fresh Issue: 2,54,51,612 Shares Worth ₹315.60 Crore Offer For Sale: 28,56,869 Shares Worth ₹35.43 Crore |
| Face Value | ₹10 per equity share |
| IPO Price | ₹118 – ₹124 per share |
| Market Lot | 120 Shares |
| Min Order | 120 Shares [1 Lot] |
| Listing At | BSE, NSE |
| Register | Kfin Technologies Ltd. |
| QIB Shares Offered | 40% |
| NII (HNI) Shares Offered | 15% |
| Retail Shares Offered | 45% |
Pranav Constructions IPO – Date Schedule
| IPO Open Date | 07 September 2026 |
| IPO Close Date | 09 September 2026 |
| Basis of Allotment | 10 September 2026 |
| Initiation of Refund | 11 September 2026 |
| Credit of Shares to Demat Account | 11 September 2026 |
| IPO Listing Date | 15 September 2026 |
| Cut-off time for UPI mandate confirmation | 5 PM on September 09, 2026 |
Pranav Constructions IPO – Lots Size & Price
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 120 | ₹14,880 |
| Retail (Max) | 13 | 1,560 | ₹1,93,440 |
| S-HNI (Min) | 14 | 1,680 | ₹2,08,320 |
| S-HNI (Max) | 67 | 8,040 | ₹9,96,960 |
| B-HNI (Min) | 68 | 8,160 | ₹10,11,840 |
Competitive Strength
- Track record of consistent financial performance.
- Capital-efficient business model with high barriers to entry.
- Established customer-centric brand with strong stakeholder management.
- Demonstrated project execution capabilities supported by in-house functional expertise.
- Experienced Promoters and professional senior management with corporate governance practices.
- Among the leading real estate companies in Mumbai’s Western Suburbs with a demonstrated growth and strong project pipeline.
Company Promoters
- Pranav Kiran Ashar
- Ravi Ramalingam
Company Financials
| Particulars | Total Revenue | Total Expense | Profit After Tax | Total Borrowing |
|---|---|---|---|---|
| 31 March 2024 | ₹449.75 Cr | ₹410.65 Cr | ₹39.62 Cr | ₹99.34 Cr |
| 31 March 2025 | ₹638.24 Cr | ₹566.16 Cr | ₹62.25 Cr | ₹196.50 Cr |
| 31 March 2026 | ₹763.93 Cr | ₹669.99 Cr | ₹71.32 Cr | ₹258.44 Cr |
Key Performance Indicator
| KPI | Values (Mar 31, 2026) |
|---|---|
| ROE | 33.78% |
| ROCE | 24.34% |
| Debt/Equity | 1.08 |
| RoNW | 33.78% |
| PAT Margin | 9.37% |
| EBITDA Margin | 17.18% |
| NAV | 28.30 |
| Pre IPO | Post IPO | |
| EPS (₹) | 8.18 | – |
| P/E (x) | – | – |
Object Of The Issue
| Objects of the Issue | Expected Amount (₹ in crores) |
|---|---|
| Funding costs towards obtaining government and statutory approvals and purchase of additional FSI and cost towards Compensation to members towards alternate accommodation, and hardship compensation, in relation to the development of certain of the Under-construction Redevelopment Projects, and certain of the Upcoming Redevelopment Projects (Funding Redevelopment Expenses. | ₹145.72 |
| Repayment and/ or pre-payment, in full or part, of certain borrowings availed by the Company. | ₹91.50 |
| Funding acquisition of future redevelopment projects and general corporate purposes. |
Pranav Constructions IPO Peer Comparison
| S. No. | Face Value (₹) | Company Name | P/E Ratio |
|---|---|---|---|
| 1 | 10 | Keystone Realtors Limited | 64.86 |
| 2 | 5 | Godrej Properties Limited | 33.25 |
| 3 | 10 | Lodha Developers Limited | 33.48 |
| 4 | 5 | Suraj Estate Developers Limited | 9.94 |
| 5 | 10 | Arkade Developers Limited | 482.59 |
| 6 | 10 | Kalpataru Limited | 56.64 |
✅Strengths
- Leading market position with a No. 1 ranking in Mumbai’s Western Suburbs.
- Strong project pipeline with 28 completed, 20 under-construction, and 17 upcoming projects.
- Established track record with redevelopment operations since 2012.
- In-house expertise supported by 198 employees, including 25 architects.
⚠️Risks
- Negative operating cash flows reported in FY25 and FY26.
- Project execution risk due to regulatory, legal, and approval-related delays.
- Higher project costs from increased displacement compensation.
- Leverage risk with a 50% gearing ratio as of March 31, 2026.
Pranav Constructions IPO Promoter Holding
| Pre Issue Share Holding | 63.35% |
| Post Issue Share Holding | 49.03% |
Pranav Constructions IPO Prospectus
Company Contact Information
| Pranav Constructions Ltd. Unit No. 1001, 10th Floor, DLH Park Near MTNL, S.V. Road, Goregaon (West), Mumbai, Maharashtra, 400104 Phone: +91 22 6276 9939 Email: compliance.officer@pranavconstructions.com Website: https://www.pranavconstructions.com/ |
Pranav Constructions IPO Registrar
| Kfin Technologies Ltd. Phone: 040-79615565 Email: pcpl.ipo@kfintech.com Website: https://ipostatus.kfintech.com/ |
Pranav Constructions IPO Lead Manager(s)
| 1. Centrum Capital Ltd. 2. PNB Investment Services Ltd. |
Pranav Constructions IPO FAQs
| What is the Pranav Constructions IPO? Pranav Constructions IPO is a main-board IPO. The issue is priced at ₹118 to ₹124 per equity share. The IPO is to be listed on the BSE & NSE. |
| When will the Pranav Constructions IPO open? The IPO is to open on 07 September 2026 for QIB, NII, and Retail Investors. |
| What is Pranav Constructions IPO Investors Portion? The investors’ portion for QIB – 40%, NII – 15%, and Retail – 45%. |
| What is the Pranav Constructions IPO Size? Pranav Constructions IPO size is ₹351.03 Crore. |
| What are the Pranav Constructions IPO Minimum and maximum lot sizes for Retail? The minimum bid is 120 Shares with ₹14,880, while the maximum bid is 1560 Shares with ₹1,93,440. |
| What is the Pranav Constructions IPO Allotment Date? Pranav Constructions IPO allotment date is 10 September 2026. |
| What is the Pranav Constructions IPO Listing Date? Pranav Constructions IPO listing date is 15 September 2026. The IPO is to be listed on the BSE and the NSE. |
