Pranav Constructions

Incorporated in July 2003, Pranav Constructions Limited is engaged primarily in redevelopment projects within the Municipal Corporation of Greater Mumbai region. As of March 31, 2026, its portfolio comprised 65 redevelopment projects, including 28 completed projects, 20 under construction and 17 upcoming projects, with a combined Total Developable Area of approximately 5.01 million square feet. The company follows an integrated redevelopment model with in-house capabilities covering tendering, pre-construction, construction and post-construction activities. Its capital-efficient model involves entering into redevelopment agreements with cooperative housing societies rather than acquiring land outright. The company has been active in Mumbai redevelopment since 2012 and had 198 permanent employees as of March 31, 2026. The promoters are Pranav Kiran Ashar and Ravi Ramalingam.

Pranav Constructions IPO comprises a fresh issue of ₹315.60 Cr along with an offer for sale of 28,56,869 shares by BioUrja India Infra Pvt. Ltd. and promoter Ravi Ramalingam. The fresh-issue proceeds are proposed to be used primarily for redevelopment expenses of ₹145.72 Cr and repayment or prepayment of borrowings of ₹91.50 Cr, with the balance intended for acquisition of future redevelopment projects and general corporate purposes. The company reported FY2026 revenue of ₹763.93 Cr, PAT of ₹71.32 Cr and EBITDA of ₹130.83 Cr, with ROE of 33.78%, ROCE of 24.34% and Debt/Equity of 1.08. Key strengths include its established Mumbai redevelopment track record, integrated execution capabilities, capital-efficient business model and sizeable project pipeline. Key risks include elevated borrowings, project approval and execution risks, dependence on redevelopment agreements and Mumbai real-estate market conditions. IPO price band and valuation multiples were not available in the supplied source as of September 1, 2026.