Pranav Constructions IPO
Market Sentiment
The overall score is a weighted average of the parts below, so one weak part can sit inside a strong overall reading.
IPO Details
Day-wise Subscription (times subscribed)
| Category | Day 1 | Day 2 | Day 3 |
|---|---|---|---|
| QIB | 0.87x | 1.00x | 268.54x |
| NII | 10.61x | 43.76x | 217.71x |
| bNII > ₹10L | 9.18x | 41.82x | 242.06x |
| sNII 2-10L | 13.46x | 47.65x | 169.01x |
| Retail | 5.77x | 15.77x | 45.25x |
| Total | 5.70x | 18.21x | 126.30x |
Market Lot Size
IPO Reservation
Financial Analysis
Financial Data
Financial Performance
| Metric | 2024 | 2025 | 2026 |
|---|---|---|---|
| Revenue | 449.75 | 638.24 | 763.93 |
| Expense | 410.65 | 566.16 | 669.99 |
| Profit (PAT) | 39.62 | 62.25 | 71.32 |
| Total Assets | 966.80 | 1,246.29 | 1,799.19 |
Peer Comparison
| Company | EPS | P/E | RoNW % | NAV | Income |
|---|---|---|---|---|---|
| Pranav Constructions This IPO | 8.18 | - | 33.78 | 28.30 | - |
| Keystone Realtors Limited | 6.25 | 64.86 | 3.34 | 229.29 | 2,634.54 Cr |
| Godrej Properties Limited | 61.43 | 33.25 | 9.97 | 642.58 | 5,131.43 Cr |
| Macrotech Developers Limited | 34.34 | 33.48 | 15.71 | 234.55 | 16,676.20 Cr |
| Suraj Estate Developers Ltd | 19.51 | 9.94 | 9.53 | 207.87 | 555.86 Cr |
| Kolte-Patil Developers Limited | -4.51 | - | -3.73 | 135.84 | 734.96 Cr |
| Arkade Developers Limited | 0.29 | 482.59 | 0.60 | 47.51 | 816.40 Cr |
| Kalpataru Limited | 4.76 | 56.64 | 2.45 | 198.04 | 3,435.62 Cr |
Strengths & Risks
- Heavily oversubscribed — 126.3x overall (so far).
- Strong institutional (QIB) demand — 268.5x.
- Revenue grew 20% in the latest reported year.
- Solid profit margin — 9.3%.
- Strong return on equity — 34%.
- Elevated leverage — debt/equity of 1.08.
Compiled from this issue's live GMP, subscription, valuation and financial data, and updated as those figures change. Informational only — not investment advice. Always read the RHP before applying.
Company Information
About Pranav Constructions
Pranav Constructions, founded in July 2003, is a real-estate firm that focuses on the redevelopment of old buildings and properties in Mumbai. Rather than building new properties on new land, Pranav Constructions is mainly involved in the redevelopment or renovation of old existing properties into new ones. It works on different types of housing, including Economical homes, Mid/Mass homes, and Aspirational homes. As of March 2026, the firm had 65 redevelopment projects in the Mumbai MCGM area, of which 28 projects are completed, 20 projects are under construction, and 17 projects are upcoming. The company mostly handles the execution of its redevelopment model itself, from tendering, pre-construction, construction, and post-construction activities.
Company Contact Information
Pranav Constructions Ltd., Unit No. 1001, 10th Floor, DLH Park,, Near MTNL, S.V. Road,, Goregaon (West),, Mumbai, Maharashtra, 400104
Objects of the Issue
| Purpose | Amount (Cr) |
|---|---|
| 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. | - |
Resources & Documents
Anchor Investors
Pranav Constructions IPO - Quick Take
Pranav Constructions has set a price band of Rs 118–Rs 124 per share for an issue size of Rs 351 crore. The stock listed with a 30.65% gain versus its issue price on September 15, 2026.
The issue is promoted by Pranav Kiran Ashar and Ravi Ramalingam with Centrum Capital Ltd., PNB Investment Services Ltd. acting as lead manager. Net proceeds will primarily be used towards funding costs towards obtaining government and statutory approvals and purchase of additional FSI and cost towards Compe… (Rs 146 crore) and repayment and/ or pre-payment, in full or part, of certain borrowings availed by the company (Rs 92 crore).
On fundamentals, the company is posting revenue growth of 19.7%, a profit margin of 9.3%, return on equity of 33.8% in its most recent reported period. Listed peers in this segment include Keystone Realtors Limited (P/E 64.86x) and Godrej Properties Limited (P/E 33.25x) — useful reference points when evaluating the issue's pricing relative to where the broader sector is trading.
On our data-signal score, the combined signals for this issue currently read very strong — GMP, subscription demand and fundamentals are all reading positively. This is a summary of public data, not a recommendation to apply or skip. Past performance does not predict future returns — review the price chart and peer comparison below before trading.
Frequently Asked Questions
Pranav Constructions IPO GMP — What It Means
GMP stops mattering once the shares trade — it only ever estimated the listing price. The summary at the top of this page compares the last pre-listing GMP with how the shares actually listed. Its last GMP before listing was 36.3%. Of the 23 Mainboard IPOs we have tracked with a final GMP of 25% or more, 23 listed above, 0 flat and 0 below the issue price; Pranav Constructions listed 30.7% above its issue price.
See the full Pranav Constructions GMP history and trend, or learn how grey market premium works and how reliable it is.
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