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Last Updated: April 2, 2026, 4:46 am
Author: Getaka|Social: XLinkedIn
Stock Ticker - BSE: 532334 | NSE: HBESD

HB Estate Developers Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹46.81Overvalued by 24.13%vs CMP ₹61.70

P/E (11.1) × ROE (6.6%) × BV (₹78.30) × DY (2.00%)

₹73.90Undervalued by 19.77%vs CMP ₹61.70
MoS: +16.5% (Adequate)Confidence: 43/100 (Low)Models: 4 Under, 1 Fair, 2 Over
ModelCategoryValueWeightSignal
PE-ROEEarnings₹80.1930%Under (+30%)
Graham NumberEarnings₹100.3018%Under (+62.6%)
DCFCash Flow₹22.1414%Over (-64.1%)
Net Asset ValueAssets₹77.7810%Under (+26.1%)
EV/EBITDAEnterprise₹105.1512%Under (+70.4%)
Earnings YieldEarnings₹57.1010%Fair (-7.5%)
Revenue MultipleRevenue₹50.407%Over (-18.3%)
Consensus (7 models)₹73.90100%Undervalued
Key Drivers: EPS CAGR 71.3% lifts DCF — verify sustainability. | Wide model spread (₹22–₹105) — high uncertainty.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: 71.3%

*Investments are subject to market risks

Investment Snapshot

51
HB Estate Developers Ltd scores 51/100 (Average)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health30/100 · Weak
ROCE 8.2% AverageROE 6.6% AverageD/E 1.26 High debtInterest Coverage 0.0x RiskyProfitable 2/5 years Inconsistent
Smart Money35/100 · Weak
Promoter decreased by 2.27% Caution
Earnings Quality65/100 · Strong
OPM expanding (25% → 37%) Improving
Quarterly Momentum68/100 · Strong
Revenue (4Q): 1% YoY FlatProfit (4Q): +19% YoY PositiveOPM: 45.6% (up 4.9% YoY) Margin expansion
Industry Rank55/100 · Moderate
P/E 11.1 vs industry 36.6 Cheaper than peersROCE 8.2% vs industry 16.4% Below peersROE 6.6% vs industry 21.4% Below peers3Y sales CAGR: 32% High growth

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores are computed from reported financials and recalculated daily. Not investment advice.

Share Price and Basic Stock Data

Last Updated: April 2, 2026, 4:46 am

Market Cap 142 Cr.
Current Price 61.7
Intrinsic Value₹73.90
High / Low 111/56.8
Stock P/E11.1
Book Value 78.3
Dividend Yield0.00 %
ROCE8.20 %
ROE6.60 %
Face Value 10.0
PEG Ratio0.16

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for HB Estate Developers Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
HB Estate Developers Ltd 142 Cr. 61.7 111/56.811.1 78.30.00 %8.20 %6.60 % 10.0
AMJ Land Holdings Ltd 146 Cr. 35.6 68.9/30.37.29 62.00.56 %13.5 %8.66 % 2.00
Vipul Ltd 146 Cr. 10.4 13.8/7.38 29.30.00 %0.44 %7.41 % 1.00
Alpine Housing Development Corporation Ltd 148 Cr. 85.2 181/74.125.4 49.00.00 %8.57 %6.30 % 10.0
Modulex Construction Technologies Ltd 130 Cr. 18.3 30.4/17.0 44.70.00 %2.51 %1.54 % 10.0
Industry Average3,374.20 Cr159.1236.56125.440.20%16.37%21.40%21.58

All Competitor Stocks of HB Estate Developers Ltd

Quarterly Result

MetricDec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales 27.7027.8023.9324.3829.7331.3625.6427.4131.4133.2323.7626.7333.46
Expenses 17.1318.6016.7517.2118.0618.5317.0218.9818.6519.9717.2218.6618.22
Operating Profit 10.579.207.187.1711.6712.838.628.4312.7613.266.548.0715.24
OPM % 38.16%33.09%30.00%29.41%39.25%40.91%33.62%30.76%40.62%39.90%27.53%30.19%45.55%
Other Income 0.211.870.220.730.380.700.710.360.320.980.400.280.36
Interest 6.386.306.226.297.116.495.735.585.425.094.434.304.13
Depreciation 1.791.861.831.861.881.871.891.931.921.871.972.012.01
Profit before tax 2.612.91-0.65-0.253.065.171.711.285.747.280.542.049.46
Tax % 18.77%492.10%84.62%272.00%50.98%12.57%46.78%62.50%16.03%37.09%27.78%37.75%31.29%
Net Profit 2.13-11.42-1.21-0.931.514.520.910.494.824.580.381.276.50
EPS in Rs 1.09-5.87-0.62-0.480.782.320.470.252.482.130.180.572.83

Last Updated: March 3, 2026, 9:16 am

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 27, 2026, 7:05 am

MetricMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 43646773848982245095108116117
Expenses 42505257626155304263697374
Operating Profit 0141517212827-6832394343
OPM % 0%21%23%23%25%32%32%-24%16%34%36%37%37%
Other Income 3-932121112222
Interest 30313031272825222425262218
Depreciation 111515141414141477788
Profit before tax -39-41-28-27-19-12-12-41-22371619
Tax % 15%10%11%-26%-13%-14%-24%-26%-29%556%47%33%
Net Profit -45-45-31-20-16-10-9-30-16-1241113
EPS in Rs -37.19-27.93-19.10-12.42-8.38-5.36-4.52-15.61-8.05-5.982.005.035.71
Dividend Payout % 0%0%0%0%0%0%0%0%0%0%0%0%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)0.00%31.11%35.48%20.00%37.50%10.00%-233.33%46.67%25.00%133.33%175.00%
Change in YoY Net Profit Growth (%)0.00%31.11%4.37%-15.48%17.50%-27.50%-243.33%280.00%-21.67%108.33%41.67%

HB Estate Developers Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2014-2015 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:6%
5 Years:7%
3 Years:33%
TTM:4%
Compounded Profit Growth
10 Years:9%
5 Years:27%
3 Years:39%
TTM:71%
Stock Price CAGR
10 Years:23%
5 Years:55%
3 Years:53%
1 Year:-25%
Return on Equity
10 Years:-8%
5 Years:-5%
3 Years:1%
Last Year:7%

Last Updated: September 5, 2025, 3:41 pm

Balance Sheet

Last Updated: February 1, 2026, 2:57 am

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 12161620202020202020202222
Reserves 51321234218200186154138126129153157
Borrowings 382391402292287287274328347331311284268
Other Liabilities 43445240423639282529343839
Total Liabilities 489482470585567543519529530505494496487
Fixed Assets 441431418475461448435422416411406404402
CWIP 0000000000000
Investments 1862122142233322
Other Assets 4744478985828210511191859083
Total Assets 489482470585567543519529530505494496487

Reserves and Borrowings Chart

Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + -2-29172293429-143424935
Cash from Investing Activity + -15293-106100-0-2-1-4
Cash from Financing Activity + 21-1-201-29-38-4216-6-41-45-32
Net Cash Flow 4-01102-32-3-12-2
Free Cash Flow -13-33150283326-142404629
CFO/OP -1,357%-210%120%8%140%118%108%283%45%134%127%80%

Free Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow-382.00-377.00-387.00-275.00-266.00-259.00-247.00-334.00-339.00-299.00-272.00-241.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days 191930151414112620121214
Inventory Days 1,2068529817427684607001,480778568
Days Payable 2724508097986814057051,166394346
Cash Conversion Cycle 953422202-411017063404042341214
Working Capital Days -27-59-1018-53-68-107-381-170-122-294-123
ROCE %-2%0%1%1%1%3%3%-4%0%6%7%8%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 69.10%69.10%69.10%69.10%69.10%69.10%69.10%69.10%71.98%71.98%69.69%67.42%
DIIs 0.01%0.01%0.01%0.01%0.01%0.01%0.01%0.01%0.02%0.02%0.01%0.01%
Public 30.87%30.87%30.88%30.87%30.87%30.86%30.86%30.88%27.98%28.00%30.28%32.56%
No. of Shareholders 69,32768,92468,26867,72167,14066,74166,55966,62266,27066,03565,73565,482

Shareholding Pattern Chart

No. of Shareholders

HB Estate Developers Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

This stock is not held by any mutual fund.

ROCE / ROE Trend

EPS Trend

Key Financial Ratios

MonthMar 25Mar 24Mar 23Mar 22Mar 21
FaceValue 10.0010.0010.0010.0010.00
Basic EPS (Rs.) 5.312.00-5.98-8.05-15.61
Diluted EPS (Rs.) 5.312.00-5.98-8.05-15.61
Cash EPS (Rs.) 8.465.74-2.23-4.21-8.49
Book Value[Excl.RevalReserv]/Share (Rs.) 80.3075.1373.1879.0986.20
Book Value[Incl.RevalReserv]/Share (Rs.) 80.3075.1373.1879.0986.20
Revenue From Operations / Share (Rs.) 54.1555.4448.8725.5612.37
PBDIT / Share (Rs.) 20.9020.7217.384.75-2.52
PBIT / Share (Rs.) 17.4116.9513.721.03-9.43
PBT / Share (Rs.) 7.363.711.29-11.15-20.81
Net Profit / Share (Rs.) 4.971.97-5.89-7.94-15.39
NP After MI And SOA / Share (Rs.) 4.971.97-5.89-7.94-15.39
PBDIT Margin (%) 38.6037.3735.5718.60-20.42
PBIT Margin (%) 32.1430.5728.074.01-76.22
PBT Margin (%) 13.596.692.65-43.61-168.27
Net Profit Margin (%) 9.173.55-12.05-31.07-124.45
NP After MI And SOA Margin (%) 9.173.55-12.05-31.07-124.45
Return on Networth / Equity (%) 6.182.62-8.05-10.04-17.85
Return on Capital Employeed (%) 8.847.816.110.42-3.89
Return On Assets (%) 2.170.78-2.30-2.95-5.73
Long Term Debt / Equity (X) 0.791.111.311.371.17
Total Debt / Equity (X) 1.031.391.561.551.26
Asset Turnover Ratio (%) 0.230.210.180.090.04
Current Ratio (X) 0.700.600.680.910.93
Quick Ratio (X) 0.490.380.450.640.65
Inventory Turnover Ratio (X) 8.030.000.000.000.00
Dividend Payout Ratio (NP) (%) -672.470.000.000.000.00
Dividend Payout Ratio (CP) (%) -394.520.000.000.000.00
Interest Coverage Ratio (X) 2.081.571.400.39-0.22
Interest Coverage Ratio (Post Tax) (X) 1.491.150.520.34-0.35
Enterprise Value (Cr.) 480.62423.20385.70363.10314.13
EV / Net Operating Revenue (X) 4.083.874.007.2012.87
EV / EBITDA (X) 10.5810.3511.2438.69-63.03
MarketCap / Net Operating Revenue (X) 1.831.130.700.690.82
Price / BV (X) 1.240.830.460.220.11
Price / Net Operating Revenue (X) 1.831.130.700.690.82
EarningsYield 0.050.03-0.17-0.44-1.50

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

HB Estate Developers Ltd. is a Public Limited Listed company incorporated on 20/09/1994 and has its registered office in the State of Haryana, India. Company's Corporate Identification Number(CIN) is L99999HR1994PLC034146 and registration number is 034146. Currently Company is involved in the business activities of Construction of buildings carried out on own-account basis or on a fee or contract basis. Company's Total Operating Revenue is Rs. 117.70 Cr. and Equity Capital is Rs. 21.73 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
Construction, Contracting & EngineeringPlot No. 31, Echelon Institutional Area, Gurgaon Haryana 122001Contact not found
Management
NamePosition Held
Mr. Lalit BhasinChairman
Mr. Anil GoyalDirector
Mr. Sunil MalikDirector
Ms. Urvija ShahDirector
Mr. Raj Kumar BhargavaDirector

FAQ

What is the intrinsic value of HB Estate Developers Ltd and is it undervalued?

As of 13 April 2026, HB Estate Developers Ltd's intrinsic value is ₹73.90, which is 19.77% higher than the current market price of ₹61.70, suggesting the stock is undervalued. This is calculated using the PE ratio method factoring in ROE (6.60 %), book value (₹78.3), dividend yield (0.00 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of HB Estate Developers Ltd?

HB Estate Developers Ltd is trading at ₹61.70 as of 13 April 2026, with a FY2026-2027 high of ₹111 and low of ₹56.8. The stock is currently near its 52-week low. Market cap stands at ₹142 Cr..

How does HB Estate Developers Ltd's P/E ratio compare to its industry?

HB Estate Developers Ltd has a P/E ratio of 11.1, which is below the industry average of 36.56. Trading at a steep discount to peers could signal a value opportunity or reflect concerns about the company's fundamentals.

Is HB Estate Developers Ltd financially healthy?

Key indicators for HB Estate Developers Ltd: ROCE of 8.20 % is on the lower side compared to the industry average of 16.37%; ROE of 6.60 % is below ideal levels (industry average: 21.40%). Dividend yield is 0.00 %.

Is HB Estate Developers Ltd profitable and how is the profit trend?

HB Estate Developers Ltd reported a net profit of ₹11 Cr in Mar 2025 on revenue of ₹116 Cr. Compared to ₹-16 Cr in Mar 2022, the net profit shows an improving trend.

Does HB Estate Developers Ltd pay dividends?

HB Estate Developers Ltd has a dividend yield of 0.00 % at the current price of ₹61.70. The company is currently not paying meaningful dividends.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in HB Estate Developers Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE
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