Puranik Builders Limited is a leading real estate company providing residential and commercial solutions across various categories. The company is among the prominent residential real estate developers in Mumbai Metropolitan Region (“MMR“) and Pune Metropolitan Region (“PMR“) based on several units currently being marketed in these regions.
Puranik Builders has a longstanding presence of over 31 years in the real estate market in India, developing residential projects in the mid-income affordable housing segment in the MMR and the PMR real estate markets. As of July 31, 2021, The company had completed 35 projects in the MMR and PMR.
The company started their operations in Thane in 1990 and over the years diversified into other micro-markets within the MMR and the PMR. As of July 31, 2021, Puranik Builders had developed 554,197 square meters (5,965,381 square feet) of Developable Area across 35 Completed Projects.
In addition, as of July 31, 2021, Puranik Builders had 17 Forthcoming Projects with an aggregate estimated Developable Area of 1,263,526 square meters (13,600,595 square feet).
Puranik Builders completed and ongoing theme-based projects include Rumah Bali, Puraniks City Reserva and Tokyo Bay in the MMR, and Aldea Espanola and Abitante in the PMR. As of July 31, 2021, The company carried out 32 projects on their own, 43 projects through joint development/ joint venture model.
Puranik Builders IPO – Details
| IPO Opening Date | January 2023 |
| IPO Closing Date | January 2023 |
| Issue Type | Book Built Issue IPO |
| Issue Size | – |
| Face Value | ₹10 per equity share |
| IPO Price | ₹[] – ₹[] |
| Market Lot | – |
| Min Order | – |
| Listing At | BSE, NSE |
| Register | KFin Technologies Limited |
| QIB Shares Offered | 50% |
| NII (HNI) Shares Offered | 15% |
| Retail Shares Offered | 35% |
Puranik Builders IPO – Date Schedule
| IPO Open Date | January 2023 |
| IPO Close Date | January 2023 |
| Basis of Allotment Date | January 2023 |
| Initiation of Refunds | January 2023 |
| Credit of Shares to Demat Account | January 2023 |
| IPO Listing Date | January 2023 |
Puranik Builders IPO – Lots Size & Price
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | – | – | – |
| Retail (Max) | – | – | – |
Competitive Strengths
- Longstanding operations in the attractive real estate markets of MMR and PMR;
- Focus on and experience in the mid-income affordable housing segment;
- Strategic pricing for the MMR and PMR micro-markets;
- Differentiated and diversified product offerings;
- Integrated project execution and management capabilities;
- Established brand and customer goodwill in the MMR and the PMR markets;
- Proven track record for development of quality projects;
- Experienced and qualified Promoters and senior management team;
- Strong pipeline of projects; and
- Asset-light model for development of projects through joint development agreements and joint venture arrangements.
Company Promoters
- Shailesh Puranik
- Shrikant Puranik
- Yogesh Puranik
- Nilesh Puranik
- Puranik Business Private Trust
- Puranik Family Private Trust
Company Financials
| Particulars | Total Revenue | Total Expense | Profit After Tax |
|---|---|---|---|
| 31 March 2019 | 721.23 | 623.01 | 71.27 |
| 31 March 2020 | 730.24 | 658.28 | 51.22 |
| 31 July 2020 | 42.38 | 41.54 | 0.39 |
| 31 March 2021 | 513.56 | 468.65 | 36.30 |
| 31 July 2021 | 191.13 | 169.50 | 17.52 |
Object Of The Issue
- prepayment or repayment of all or a portion of certain outstanding borrowings availed by the Company on a consolidated basis.
- general corporate purposes.
Puranik Builders IPO Peer Comparison
| S. No. | Face Value | Company Name | PE |
| 1 | 10 | Oberoi Realty Limited | 37.51 |
| 2 | 5 | Godrej Properties Limited | (211.28) |
| 3 | 10 | Prestige Estates Project Limited | 11.64 |
| 4 | 1 | Sunteck Realty Limited | 126.49 |
| 5 | 10 | Sobha Limited | 117.12 |
| 6 | 10 | Brigade Enterprises Limited | (165.25) |
| 7 | 10 | Kolte-Patil Limited | (386.58) |
| 8 | 10 | Macrotech Developers Limited | 1,077.77 |
Puranik Builders IPO Strengths
- The company’s longstanding operations in the very attractive real estate market of Mumbai and Pune has proven to be very lucrative for the company. Mumbai had the largest sales volumes and highest average sales prices at launch.
- The company focuses on the mid- income affordable housing segment. The markets of PMR and MMR provide a large customer base in this segment.
- Strategic pricing scheme for its core markets. The mid-income affordable housing segment ranges between Rs.4.2 million- Rs.11.5 million in MMR and between Rs.3.2 million- Rs.10 million in PMR.
- The products offered by Puranik Builders are diversified and differentiated. The company started theme based developments for the middle income housing market, like Tokyo Bay and Puranik City Reserva in MMR.
- Puranik Builders are a well known and established brand and have a lot of customer goodwill in the market.
Puranik Builders IPO Risks
- Puranik Builders is heavily dependent on just two market- MMR and PMR.
- The real estate market is very volatile in nature and more so after the Covid-19 pandemic, so if there are any other hurdles in the road for the real estate sector, the entire business of the company will be at risk.
- There may be problems in completing the projects according to the scheduled dates, which will in-turn affect the customer goodwill.
Puranik Builders IPO Promoter Holding
| Pre Issue Share Holding | 100.00% |
| Post Issue Share Holding |
Puranik Builders IPO Prospectus
Company Contact Information
| Puranik Builders Limited PURANIK ONE, Near Kanchanpushpa Complex, Opposite Suraj Water Park, Kavesar, Ghodbunder Road, Thane (West) – 400 615 Phone: +91 22 2598 8888 Email: cs@puraniks.in Website: https://www.puranikbuilders.com/ |
Puranik Builders IPO Registrar
| KFin Technologies Limited Phone: 04067162222, 04079611000 Email: puranik.ipo@kfintech.com Website: https://karisma.kfintech.com/ |
Puranik Builders IPO Lead Manager(s)
| 1. YES Securities (India) Limited 2. Elara Capital (India) Private Limited |
Puranik Builders IPO FAQs
| What is Puranik Builders IPO? Puranik Builders IPO is a main-board IPO. The issue is priced at ₹[] to ₹[] per equity share. The IPO is to be listed on BSE & NSE. |
| When Puranik Builders IPO will open? The IPO is to open on January 2023 for QIB, NII, and Retail Investors. |
| What is Puranik Builders IPO Investors Portion? The investors’ portion for QIB – 50%, NII – 15%, and Retail – 35%. |
| How to Apply the Puranik Builders IPO? You can apply Puranik Builders IPO via ASBA online via your bank account. You can also apply for ASBA online via UPI through your stock brokers. You can also apply via your stock brokers by filling up the offline form. |
| How to Apply the Puranik Builders IPO through Angle One? Log in to Angle One Application with your credentials. Select the IPO. You will see the IPO Name “Puranik Builders”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with Angle One. |
| How to Apply the Puranik Builders IPO through 5 Paisa? Log in to 5 Paisa Application with your credentials. Select the IPO. You will see the IPO Name “Puranik Builders”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with 5 Paisa. |
| How to Apply the Puranik Builders IPO through Upstox? Log in to Upstox Application with your credentials. Select the IPO. You will see the IPO Name “Puranik Builders”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with Upstox. |
| How to Apply the Puranik Builders IPO through IIFL? Log in to IIFL Application with your credentials. Select the IPO. You will see the IPO Name “Puranik Builders”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with IIFL. |
| What is Puranik Builders IPO Size? Puranik Builders IPO size is ₹[] Cr. |
| What is Puranik Builders IPO Price Band? Puranik Builders IPO Price Band is ₹[] to ₹[]. |
| What is Puranik Builders IPO Minimum and Maximum Lot Size? The minimum bid is [] Shares with ₹[] amount while the maximum bid is [] shares with ₹[]. |
| What is the Puranik Builders IPO Allotment Date? Puranik Builders IPO allotment date is January 2023. |
| What is the Puranik Builders IPO Listing Date? Puranik Builders IPO listing date is January 2023. The IPO is to list on BSE and NSE. |
