Incorporated in February 2016, Runwal Enterprises Limited is a real estate developer with a presence across the full spectrum of real estate development, with a focus on residential projects across affordable, mid-income and luxury segments, along with commercial spaces, retail malls and educational buildings. The Company has a strong presence in Mumbai and is a recognized brand in the real estate industry. The Company is ranked third in Mumbai in terms of new launches and sales, with approximate market shares of 2.33% and 2.46%, respectively, between January 2023 and March 31, 2026. In the eastern suburbs of Mumbai, it ranked first in sales, with an approximate market share of 7.88%, and fourth in new launches, with a market share of approximately 2.89% during the same period. In Kalyan-Dombivli, the Company ranked first in new launches and second in sales, with approximate market shares of 11.41% and 6.33%, respectively. (Source: JLL Report)
As of March 31, 2026, the Company had 19 Completed Projects, 28 Ongoing Projects and 33 Upcoming Projects. Its project experience includes greenfield developments involving land acquisition as well as asset-light models such as Joint Development Agreements (JDAs). The Company also has expertise in developing large townships incorporating schools, malls, retail shops and shopping arcades.
The Company has in-house expertise across design and architecture, construction management, sales and marketing, contracts and procurement, customer care and post-sales services, supported by tie-ups with reputed design and architecture firms. It also focuses on sustainable development and has the ability to sell projects at premium pricing and throughout the construction phase.
As of March 31, 2026, the Company, including its subsidiaries, had 1,181 permanent employees, with major functions including construction management, sales and marketing, customer care, accounts and billing, and contracts and procurement.
Competitive Strengths
Runwal Enterprises Ltd.’s revenue increased by 76% and profit after tax (PAT) rose by 234% between the financial year ending with March 31, 2026 and March 31, 2025.
| Period Ended | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Assets | 10,254.50 | 8,328.14 | 7,079.74 |
| Total Income | 1,850.79 | 1,050.71 | 2,436.68 |
| Profit After Tax | 185.76 | 55.65 | 93.70 |
| EBITDA | 349.81 | 180.11 | 201.73 |
| NET Worth | 768.20 | 455.86 | 372.65 |
| Reserves and Surplus | 819.81 | 460.07 | 426.07 |
| Total Borrowing | 2,909.13 | 2,312.58 | 1,783.65 |
| Amount in ₹ Crore | |||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Repayment/ pre-payment, in full or in part, of certain outstanding borrowings availed by the Company | 100.00 |
| 2 | Investment in the Material Subsidiaries namely Susneh Infrapark Pvt.Ltd. and Runwal Residency Pvt.Ltd. and Subsidiary namely Evie Real Estate Pvt.Ltd., for repayment/ pre-payment, in full or in part, of all or a portion of certain of their outstanding borrowings. | 225.00 |
| 3 | Funding acquisitions of future real estate projects and general corporate purposes. | |
| Total | 325.00 |
| KPI | Mar 31, 2026 |
|---|---|
| Debt/Equity | 3.29 |
| RoNW | 27.24% |
| EBITDA Margin | 19.44% |
| NAV | 61.43 |
| Price to Book Value | 4.97 |
| Valuation Metric | Pre IPO | Post IPO |
|---|---|---|
| EPS (₹) | 14.14 | 12.57 |
| P/E (x) | 21.57 | 24.26 |
| IPO Date | 25 to 29 Sep, 2026 |
| Listing Date | Mon, Oct 5, 2026T |
| Face Value | ₹2 per share |
| Price Band | ₹290 to ₹305 |
| Lot Size | 49 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Employee Discount | ₹14.00 |
| Total Issue Size | 1,63,93,442 shares (agg. up to ₹500 Cr) |
| Fresh Issue | 1,63,93,442 shares (agg. up to ₹500 Cr) |
| Share Holding Pre Issue | 13,13,91,436 shares |
| Share Holding Post Issue | 14,77,84,878 shares |
The promoters of the company are Mr. Vinod Gupta and Mrs. Arnima Gupta.
| Share Holding Pre Issue | 96.8% |
| Share Holding Post Issue |
As per our analysis and Based on the information we have, this is the output.
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