---
title: "HB Estate Developers Ltd (532334) — Share Price, Financials & Analysis"
symbol: "532334"
company: "HB Estate Developers Ltd"
canonical: "https://tapetide.com/stocks/532334"
isin: "INE640B01021"
nse_symbol: "HBESD"
bse_code: "532334"
sector: "Realty"
industry: "Residential Commercial Projects"
market_cap_cr: 168.69
generated_at: "2026-09-13T19:28:13.407Z"
---

# HB Estate Developers Ltd (532334)

Canonical page: https://tapetide.com/stocks/532334

## Company

- **NSE Symbol:** HBESD
- **BSE Code:** 532334
- **ISIN:** INE640B01021
- **Sector:** Realty
- **Industry:** Residential Commercial Projects
- **Macro Sector:** Consumer Discretionary
- **Stock Type:** EQUITY
- **Listed Since:** 2002-07-05
- **Face Value:** ₹10
- **F&O Eligible:** No
- **Website:** hbestate.com

## About

Incorporated in 1994, HB Estate Developers Ltd is engaged in the business of owning and managing hotels and real estate properties.

## Latest Price

- **Price:** ₹72.99
- **Change:** +1.73 (+2.43%)
- **Open:** ₹75.37
- **Day High:** ₹75.38
- **Day Low:** ₹70.7
- **Previous Close:** ₹71.26
- **Volume:** 616
- **As Of:** 2026-09-11T10:01:43+00:00

## Key Fundamentals

Observed at 2026-09-11T04:38:23.803205Z.

- **Market Cap:** ₹168.69 Cr
- **Classification:** Microcap
- **P/E (reported):** 12.9
- **P/E (TTM):** 12.99
- **EPS (TTM):** ₹5.62
- **Book Value:** ₹84.21
- **Price to Book:** 0.86
- **Dividend Yield:** 0%
- **ROE:** 6.05%
- **ROCE:** 8.02%
- **Debt to Equity:** 1.34
- **Revenue (yearly):** ₹118.5 Cr
- **Net Income:** ₹11.7 Cr
- **EBITDA:** ₹42.2 Cr
- **52-Week High:** ₹95.9
- **52-Week Low:** ₹61.05
- **RSI (14):** 39.12

## Tapetide Score

- **Score:** 56 / 100
- **Score date:** 2026-09-04
- **Archetype:** Quality at a Reasonable Price
- **What it means:** Financial strength is not being paid for with a demanding multiple. The question worth asking is whether the quality is durable or reflects a good patch — check the consistency of returns over several years rather than the latest quarter.
- **Pillar profile:** Quality: Good · Valuation: Cheap · Momentum: Rising
- **Percentile:** 74.1 (of 4473 scored stocks)
- **Confidence:** 100%
- **Data coverage:** 100%

| Pillar | Score | Weight |
| --- | --- | --- |
| financial health | 25.72 | 9% |
| growth | 48.67 | 9% |
| momentum | 77.54 | 12% |
| ownership | 51.8 | 24% |
| quality | 61.97 | 22% |
| valuation | 63.66 | 24% |

The Tapetide Score is decision-support only, not investment advice.

## Key Insights

### Strengths

- Stock is trading at 0.87 times its book value
- Company has delivered good profit growth of 19.0% CAGR over last 5 years

### Weaknesses

- Though the company is reporting repeated profits, it is not paying out dividend
- Company has a low return on equity of 5.28% over last 3 years.
- Company might be capitalizing the interest cost

## Growth Rates

| Metric | QoQ | 1Y | 3Y | 5Y |
| --- | --- | --- | --- | --- |
| cash flow growth | — | 31% | -6.27% | — |
| ebitda margin growth | -30.09% | -5.76% | -2.81% | 97.23% |
| net income growth | -57.14% | 8.33% | 44% | 19% |
| revenue growth | -15.82% | -1.33% | 7% | 37% |
| roce | -37.93% | -9.38% | -9.38% | 6.45% |
| roe | -56.62% | -2.26% | 4.95% | -160.87% |

## Financial Statements

### Quarterly Results

All figures in ₹ crore unless the row name says otherwise.

| Item | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 24.38 | 29.73 | 31.36 | 25.64 | 27.41 | 31.41 | 33.23 | 23.76 | 26.73 | 33.46 | 32.97 | 27.75 |
| Expenses | 17.21 | 18.06 | 18.53 | 17.02 | 18.98 | 18.65 | 19.97 | 17.22 | 18.66 | 18.22 | 22.11 | 20.3 |
| Operating Profit | 7.17 | 11.67 | 12.83 | 8.62 | 8.43 | 12.76 | 13.26 | 6.54 | 8.07 | 15.24 | 10.86 | 7.45 |
| OPM % | 29.41 | 39.25 | 40.91 | 33.62 | 30.76 | 40.62 | 39.9 | 27.53 | 30.19 | 45.55 | 32.94 | 26.85 |
| Other Income | 0.73 | 0.38 | 0.7 | 0.71 | 0.36 | 0.32 | 0.98 | 0.4 | 0.28 | 0.36 | 0.49 | 0.41 |
| Interest | 6.29 | 7.11 | 6.49 | 5.73 | 5.58 | 5.42 | 5.09 | 4.43 | 4.3 | 4.13 | 3.63 | 3.33 |
| Depreciation | 1.86 | 1.88 | 1.87 | 1.89 | 1.93 | 1.92 | 1.87 | 1.97 | 2.01 | 2.01 | 1.99 | 2.05 |
| Profit before tax | -0.25 | 3.06 | 5.17 | 1.71 | 1.28 | 5.74 | 7.28 | 0.54 | 2.04 | 9.46 | 5.73 | 2.48 |
| Tax % | 272 | 50.98 | 12.57 | 46.78 | 62.5 | 16.03 | 37.09 | 27.78 | 37.75 | 31.29 | 38.05 | 37.9 |
| Net Profit | -0.93 | 1.51 | 4.52 | 0.91 | 0.49 | 4.82 | 4.58 | 0.38 | 1.27 | 6.5 | 3.55 | 1.54 |
| EPS in Rs | -0.48 | 0.78 | 2.32 | 0.47 | 0.25 | 2.48 | 2.13 | 0.18 | 0.57 | 2.83 | 1.55 | 0.67 |

### Profit & Loss

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 84 | 89 | 82 | 24 | 50 | 95 | 108 | 116 | 115 | 121 |
| Expenses | 62 | 61 | 55 | 30 | 42 | 63 | 69 | 73 | 75 | 79 |
| Operating Profit | 21 | 28 | 27 | -6 | 8 | 32 | 39 | 43 | 41 | 42 |
| OPM % | 25 | 32 | 32 | -24 | 16 | 34 | 36 | 37 | 35 | 34 |
| Other Income | 1 | 2 | 1 | 1 | 1 | 2 | 2 | 2 | 2 | 2 |
| Interest | 27 | 28 | 25 | 22 | 24 | 25 | 26 | 22 | 16 | 15 |
| Depreciation | 14 | 14 | 14 | 14 | 7 | 7 | 7 | 8 | 8 | 8 |
| Profit before tax | -19 | -12 | -12 | -41 | -22 | 3 | 7 | 16 | 18 | 20 |
| Tax % | -13 | -14 | -24 | -26 | -29 | 556 | 47 | 33 | 34 | — |
| Net Profit | -16 | -10 | -9 | -30 | -16 | -12 | 4 | 11 | 12 | 13 |
| EPS in Rs | -8.38 | -5.36 | -4.52 | -15.61 | -8.05 | -5.98 | 2 | 5.03 | 5.1 | 5.62 |
| Dividend Payout % | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | — |

### Balance Sheet

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Equity Capital | 20 | 20 | 20 | 20 | 20 | 20 | 20 | 20 | 22 | 23 |
| Reserves | 234 | 218 | 200 | 186 | 154 | 138 | 126 | 129 | 153 | 170 |
| Borrowings | 292 | 287 | 287 | 274 | 328 | 347 | 331 | 311 | 284 | 258 |
| Other Liabilities | 40 | 42 | 36 | 39 | 28 | 25 | 29 | 34 | 38 | 39 |
| Total Liabilities | 585 | 567 | 543 | 519 | 529 | 530 | 505 | 494 | 496 | 491 |
| Fixed Assets | 475 | 461 | 448 | 435 | 422 | 416 | 411 | 406 | 404 | 398 |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 21 | 22 | 14 | 2 | 2 | 3 | 3 | 3 | 2 | 2 |
| Other Assets | 89 | 85 | 82 | 82 | 105 | 111 | 91 | 85 | 90 | 91 |
| Total Assets | 585 | 567 | 543 | 519 | 529 | 530 | 505 | 494 | 496 | 491 |

### Cash Flow

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Cash from Operating Activity | 2 | 29 | 34 | 29 | -14 | 3 | 42 | 49 | 35 | 45 |
| Cash from Investing Activity | -1 | 0 | 6 | 10 | 0 | 0 | -2 | -1 | -4 | -1 |
| Cash from Financing Activity | 1 | -29 | -38 | -42 | 16 | -6 | -41 | -45 | -32 | -36 |
| Net Cash Flow | 1 | 0 | 2 | -3 | 2 | -3 | -1 | 2 | -2 | 9 |
| Free Cash Flow | 0 | 28 | 33 | 26 | -14 | 2 | 40 | 46 | 29 | 44 |
| CFO/OP | 8 | 140 | 118 | 108 | 283 | 45 | 134 | 127 | 80 | 108 |

### Ratios

| Item | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Debtor Days | 15 | 14 | 14 | 11 | 26 | 20 | 12 | 12 | 14 | 21 |
| Inventory Days | 742 | 768 | 460 | 700 | 1480 | 778 | 568 | — | — | — |
| Days Payable | 798 | 681 | 405 | 705 | 1166 | 394 | 346 | — | — | — |
| Cash Conversion Cycle | -41 | 101 | 70 | 6 | 340 | 404 | 234 | 12 | 14 | 21 |
| Working Capital Days | 8 | -53 | -68 | -107 | -381 | -170 | -122 | -294 | -123 | -106 |
| ROCE % | 1 | 1 | 3 | 3 | -4 | 0 | 6 | 7 | 8 | 8 |

## Shareholding Pattern

### Quarterly

| Category | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Promoters | 69.11% | 69.11% | 69.11% | 69.11% | 69.11% | 69.11% | 71.99% | 71.99% | 69.69% | 67.41% | 67.41% | 67.74% |
| FIIs | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| DIIs | 0.01% | 0.01% | 0.01% | 0.01% | 0.01% | 0.01% | 0.02% | 0.02% | 0.02% | 0.02% | 0.02% | 0.02% |
| Government | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
| Public | 22.29% | 22.36% | 22.21% | 22.23% | 22.16% | 22.2% | 20.14% | 18.97% | 21.56% | 20.81% | 20.81% | 20.48% |
| Others | 8.58% | 8.51% | 8.66% | 8.65% | 8.72% | 8.67% | 7.85% | 9.02% | 8.73% | 11.75% | 11.75% | 11.75% |
| No. of Shareholders | 68268 | 67721 | 67140 | 66741 | 66559 | 66622 | 66277 | 66035 | 65735 | 65482 | 65241 | 65165 |

## Technical Indicators

Derived from daily closing prices and recomputed each trading session; values move with the market.

- **Overall Signal:** Strong Sell
- **Buy / Neutral / Sell:** 3 / 5 / 11

### Moving Averages — summary: **Strong Sell**

| Indicator | Value | Signal |
| --- | --- | --- |
| SMA (10) | 74.32 | Sell |
| EMA (10) | 73.97 | Sell |
| SMA (20) | 74.77 | Sell |
| EMA (20) | 74.58 | Sell |
| SMA (50) | 75.22 | Sell |
| EMA (50) | 75.01 | Sell |
| SMA (100) | 75.55 | Sell |
| EMA (100) | 74.7 | Sell |
| SMA (200) | 72.35 | Buy |
| EMA (200) | 75.91 | Sell |

### Oscillators — summary: **Neutral**

| Indicator | Value | Signal |
| --- | --- | --- |
| RSI (14) | 44.75 | Neutral |
| MACD (12,26,9) | -0.63 | Sell |
| Stochastic (14,3,3) | 13.78 | Buy |
| ADX (14) | 25.25 | Buy |
| Williams %R (14) | -75.69 | Neutral |
| ATR (14) | 3.21 | High Volatility |
| ROC (12) | -4.35 | Sell |
| Stoch RSI (14) | 36.87 | Neutral |
| UO (7,14,28) | 35.4 | Neutral |

## Filings & Documents

### Exchange Filings & Announcements

| Date | Document |
| --- | --- |
| 2026-09-09 | [Shareholder Meeting / Postal Ballot-Outcome of AGM](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=4cd0aa0e-4259-4694-b47a-c0998faf34e5.pdf) |
| 2026-09-09 | [Shareholder Meeting / Postal Ballot-Scrutinizers Report](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=8cbbcf29-ac2d-443f-bb1d-f716ccf98faa.pdf) |
| 2026-09-09 | [32Nd Annual General Meeting Of HB Estate Developers Limited](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=26557762-b1fe-424a-b092-4639417b576e.pdf) |
| 2026-08-24 | [Announcement under Regulation 30 (LODR)-Change in Management](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=6de065cb-288c-420f-82ec-f97ee66eac17.pdf) |
| 2026-08-24 | [Announcement under Regulation 30 (LODR)-Cessation](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=138c3ab1-2379-4882-b9e1-bf26a4b5add8.pdf) |
| 2026-08-18 | [Letter To Shareholders Providing Web-Link Of The Annual Report And Reminder To Update KYC Against Physical Shareholding](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=cb4a63a8-fa85-4a55-8d8e-b8464131c9b4.pdf) |
| 2026-08-13 | [Announcement under Regulation 30 (LODR)-Newspaper Publication](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=20c480e1-6003-4fba-a672-470ad9293f1c.pdf) |
| 2026-08-12 | [32Nd Annual General Meeting- Notice And Annual Report For FY 2025-26](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=cf156b30-3d69-4c81-ba43-f63e5e62df02.pdf) |
| 2026-08-12 | [Reg. 34 (1) Annual Report.](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=1e8b73a1-423e-4dfc-9237-32ca5cf9fde9.pdf) |
| 2026-08-11 | [Announcement under Regulation 30 (LODR)-Newspaper Publication](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=c470a17c-9962-4c50-b252-5ce9457f003b.pdf) |

### Results & Financial Statements

| Date | Document |
| --- | --- |
| 2026-08-03 | [Results- Financial Results For Quarter June 30 2026](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=aa753f09-b934-405a-94e9-146a44a82fef.pdf) |
| 2026-05-29 | [Results- Financial Results For The Last Quarter And Year Ended March 31 2026](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=d79b1d80-16ff-4d40-a86b-79fc4f62e49c.pdf) |
| 2026-02-13 | [Unaudited Financial Results For Third Quarter And Nine Months Ended December 31 2025](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=2d06732b-0c86-4d11-a7db-5ee49d322c37.pdf) |
| 2025-11-13 | [Results- Financial Results For The Quarter Ended September 30 2025](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=bef4c793-f5fc-404a-a362-3896a0546cd9.pdf) |
| 2025-08-02 | [Results- Financial Results 30/06/2025](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=04428c63-958c-44c7-8320-458fda13c80c.pdf) |
| 2025-05-12 | [Results -Financial Year Ended March 31 2025](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=8b66f821-653a-475c-aae5-eec93b90ea41.pdf) |
| 2025-05-12 | [Results -Financial Year Ended March 31 2025](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=b5f514d2-f5d9-49fd-b8e3-4a06270fe7d0.pdf) |
| 2025-02-12 | [Results-Financial Results For The Quarter And Nine Months Ended December 31 2024](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=0edf91f3-5a61-4a79-959c-63312540ea7e.pdf) |
| 2024-11-14 | [Forwarding Of Un-Audited Financial Results For The Second Quarter And Half Year Ended On 30Th September, 2024](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=5deeadcb-719f-4d1c-b16e-72d1ff11efd7.pdf) |
| 2024-08-12 | [Forwarding Of Un-Audited Financial Results For The First Quarter Ended On 30Th June, 2024](https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=281c409b-5dd5-4d8c-81b9-7317b80d57cb.pdf) |

### Other Documents

| Date | Document |
| --- | --- |
| 7 Feb - Of newspaper publication for unaudited financial results for the quarter and nine months ended on December 31, 2025 | [Announcement under Regulation 30 (LODR)-Newspaper Publication 7 Feb - Of newspaper publication for unaudited financial results for the quarter and nine months ended on December 31, 2025](https://www.bseindia.com/xml-data/corpfiling/AttachHis/cadd61e7-8836-4cf8-91c7-e36518adc652.pdf) |
| 7 Apr - Submission of Certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018 for the Quarter and year ended on March 31, 2026 | [Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018 7 Apr - Submission of Certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018 for the Quarter and year ended on March 31, 2026](https://www.bseindia.com/xml-data/corpfiling/AttachHis/556ef20d-fdf6-4603-9df7-d53cd7c8b40e.pdf) |
| 6h - Signed 49-room Lemon Tree hotel in Barog, Himachal Pradesh; managed by Carnation Hotels (5 Mar 2026). | [Announcement under Regulation 30 (LODR)-Press Release / Media Release 6h - Signed 49-room Lemon Tree hotel in Barog, Himachal Pradesh; managed by Carnation Hotels (5 Mar 2026).](https://www.bseindia.com/xml-data/corpfiling/AttachLive/7e28fc1e-d510-4871-a26d-8da23b315c7e.pdf) |
| 6 Feb - Disclosure under Regulation 30 of SEBI (LODR) Regulations, 2015 - Investor Presentation for quarter and nine months ended December 31, 2025 | [Announcement under Regulation 30 (LODR)-Investor Presentation 6 Feb - Disclosure under Regulation 30 of SEBI (LODR) Regulations, 2015 - Investor Presentation for quarter and nine months ended December 31, 2025](https://www.bseindia.com/xml-data/corpfiling/AttachHis/e55682f6-ab5d-43b2-9e3c-63f601797da3.pdf) |
| 6 Feb - Approved Q3/9M FY26 results; consolidated exceptional items ₹3,133.46 lakhs; proposed demerger effective Apr 1, 2026. | [Financial Results For The Quarter And Nine Months Ended 31.12.2025 6 Feb - Approved Q3/9M FY26 results; consolidated exceptional items ₹3,133.46 lakhs; proposed demerger effective Apr 1, 2026.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/98254a5a-59f3-4fc8-92bc-8bc2e01d77fc.pdf) |
| 3 Mar - Signed license to manage 63-room Lemon Tree Hotel, Rajendranagar Hyderabad; managed by Carnation Hotels; announced March 3, 2026. | [Announcement under Regulation 30 (LODR)-Press Release / Media Release 3 Mar - Signed license to manage 63-room Lemon Tree Hotel, Rajendranagar Hyderabad; managed by Carnation Hotels; announced March 3, 2026.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/b46e0890-75ed-43d5-9483-21490b98ba8e.pdf) |
| 28 Apr - Newspaper Publication of Second 100 days'' Campaign "Saksham Niveshak" | [Announcement under Regulation 30 (LODR)-Newspaper Publication 28 Apr - Newspaper Publication of Second 100 days'' Campaign "Saksham Niveshak"](https://www.bseindia.com/xml-data/corpfiling/AttachHis/21d3b716-333c-4399-b7fd-7121b7ffc53f.pdf) |
| 28 Apr - Newspaper Publication of Second 100 days'' Campaign "Saksham Niveshak" | [Announcement under Regulation 30 (LODR)-Newspaper Publication 28 Apr - Newspaper Publication of Second 100 days'' Campaign "Saksham Niveshak"](https://www.bseindia.com/xml-data/corpfiling/AttachLive/21d3b716-333c-4399-b7fd-7121b7ffc53f.pdf) |
| 27 Feb - Signed Keys Prima 55-room hotel in Akola, managed by Carnation subsidiary, announced 27 Feb 2026. | [Announcement under Regulation 30 (LODR)-Press Release / Media Release 27 Feb - Signed Keys Prima 55-room hotel in Akola, managed by Carnation subsidiary, announced 27 Feb 2026.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/43908253-8ea9-42c2-8b54-b082035efac0.pdf) |
| 24 Feb - Signed license for 100-room Lemon Tree Hotel in Najibabad, Uttar Pradesh; managed by subsidiary. | [Announcement under Regulation 30 (LODR)-Press Release / Media Release 24 Feb - Signed license for 100-room Lemon Tree Hotel in Najibabad, Uttar Pradesh; managed by subsidiary.](https://www.bseindia.com/xml-data/corpfiling/AttachHis/40f36046-e65c-4e74-9c09-97820039c5e8.pdf) |

### Annual Reports

| Date | Document |
| --- | --- |
| from bse | [Annual Report 2026 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/1e8b73a1-423e-4dfc-9237-32ca5cf9fde9.pdf) |
| from bse | [Financial Year 2025 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/c1ba19b8-e632-41bd-95da-996e7ec68b05.pdf) |
| from bse | [Annual Report 2025 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/fadb4498-0835-40c2-8491-bc199b53551c.pdf) |
| from bse | [Financial Year 2024 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/909f5daf-1ec8-43b7-a52e-36925fa72a1f.pdf) |
| from bse | [Annual Report 2024 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/d39abb25-9758-403b-9bd6-7e016743ab57.pdf) |
| from bse | [Financial Year 2023 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/3fd4aabc-fc5f-4840-8133-b6d968c90a73.pdf) |
| from bse | [Annual Report 2023 from bse](https://www.bseindia.com/xml-data/corpfiling/AttachHis/f617c1c0-df28-4efb-b2b4-575606a42471.pdf) |
| from bse | [Financial Year 2022 from bse](https://www.bseindia.com/bseplus/AnnualReport/541233/74524541233.pdf) |
| from bse | [Annual Report 2022 from bse](https://www.bseindia.com/bseplus/AnnualReport/532334/73949532334.pdf) |
| from bse | [Financial Year 2021 from bse](https://www.bseindia.com/bseplus/AnnualReport/541233/71826541233.pdf) |

### Earnings Call Documents

| Date | Document |
| --- | --- |
| Sep 2022 | [Concall - Sep 2022](https://www.bseindia.com/xml-data/corpfiling/AttachHis/c5c41992-25a3-4167-80ec-c2d751ffc26a.pdf) |
| Sep 2019 | [Concall - Sep 2019](https://www.bseindia.com/xml-data/corpfiling/AttachHis/f9fd69f9-0c6a-4b4f-a7ac-b702f9bf72f1.pdf) |
| Sep 2019 | [Concall - Sep 2019](https://www.bseindia.com/xml-data/corpfiling/AttachHis/3a499e7c-d3d5-4e8d-9012-1848d1b7f7d3.pdf) |
| Sep 2019 | [Concall - Sep 2019](https://www.bseindia.com/xml-data/corpfiling/AttachHis/d52764da-7417-43f7-8388-555b1f3a7f65.pdf) |
| Sep 2019 | [Concall - Sep 2019](https://www.bseindia.com/xml-data/corpfiling/AttachHis/6b30b85f-7024-4bd1-bf30-917c6ce03537.pdf) |
| Nov 2025 | [Concall - Nov 2025](https://www.bseindia.com/xml-data/corpfiling/AttachHis/5a3cfc96-c662-414a-bc34-4635bef2415b.pdf) |
| Nov 2024 | [Concall - Nov 2024](https://www.bseindia.com/xml-data/corpfiling/AttachHis/9bd3d60d-14c9-448f-bfc3-82bb3338d422.pdf) |
| Nov 2024 | [Concall - Nov 2024](https://www.bseindia.com/xml-data/corpfiling/AttachHis/3c895122-81f1-4b3e-be92-d1bf92b7945a.pdf) |
| Nov 2023 | [Concall - Nov 2023](https://www.bseindia.com/xml-data/corpfiling/AttachHis/bbee85d1-f236-4fc7-a369-dfc08ef1a29e.pdf) |
| Nov 2022 | [Concall - Nov 2022](https://www.bseindia.com/xml-data/corpfiling/AttachHis/ab540475-5c4a-4574-96f0-0ba88fa6eb64.pdf) |

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Provenance differs by section. Financial statements, shareholding and filings are as reported in company disclosures to NSE/BSE/SEBI. Price, volume and 52-week levels are exchange market data. Technical indicators are computed by Tapetide from daily closing prices. The Tapetide Score is Tapetide's own analysis. Analyst ratings are third-party estimates, not company statements. All figures are for research and information only and are not investment advice. Generated 2026-09-13T19:28:13.407Z.