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B-Right Realestate Ltd (543543)

📊 BSE: 543543 🏢 Residential, Commercial Projects 📢 Latest filing: 16 Oct 2026 📝 Analysis written: 13 Nov 2025

Latest quarterly results (H2 FY26)

In its latest reported quarter, H2 FY26, B-Right Realestate's revenue was ₹113 Cr (+79.4% year on year, +109.3% on the previous half-year), and net profit ₹33.0 Cr (+725.0% year on year); the operating margin was 41.6%.

H2 FY26 (₹ Cr)	Value	YoY vs H2 FY25	vs prev. half
Revenue	₹113	+79.4%	+109.3%
Operating profit	₹47.0	+571.4%	+147.4%
Net profit	₹33.0	+725.0%	+175.0%
EPS (₹)	30.63	—	+787.8%
Operating margin	41.6%	—	—

Full quarterly financials → Results calendar →

📢 Recent Corporate Announcements

H1 FY27 Pre-Sales Surge 180% to Rs 235.88 Cr; Adds Rs 1,993 Cr GDV Pipeline

🟢 POSITIVE ⭐ 8/10

EXPANSION 📅 16 Oct 2026, 06:47 PM

B-Right Realestate reported robust operational momentum for Q2 and H1 FY27, with H1 FY27 pre-sales jumping 179.51% YoY to Rs 235.88 crore. Collections for H1 FY27 expanded significantly by 342.48% YoY to Rs 111.77 crore. The company added three new project sites during H1 FY27 with a cumulative Gross Development Value (GDV) of Rs 1,993 crore, which is over 7x its TTM revenue of Rs 271 crore. Total debt rose to Rs 120 crore as of September 30, 2026, compared to Rs 45 crore previously, to fund ongoing project execution.

H1 FY27 pre-sales grew 179.51% YoY to Rs 235.88 crore (Q2 FY27 up 994.42% to Rs 54.94 crore)
H1 FY27 collections jumped 342.48% YoY to Rs 111.77 crore (Q2 FY27 up 747.41% to Rs 68.64 crore)
Added 3 new project sites in H1 FY27 with cumulative GDV of Rs 1,993 crore (~735% of TTM revenue)
Total debt increased to Rs 120 crore as of September 30, 2026 to finance ongoing site development
Company is in the process of launching 2 new projects over the next 6 months

💡 Monitor execution milestones and launch schedules for the 2 upcoming projects over the next 6 months, alongside tracking debt levels against collection inflows in future quarterly updates.

B-Right Realestate Unveils New Corporate Logo and Brand Identity

🟡 NEUTRAL ⭐ 1/10

ROUTINE 📅 25 Aug 2026, 05:16 PM

B-Right Realestate Limited has informed the exchange of a change in its corporate logo to unveil a new brand identity reflecting its evolution and long-term vision. The updated logo has been integrated onto the company's official website. This announcement is purely administrative with no direct financial or operational impact on the company's TTM revenue of ₹271 crore or current project pipelines.

Corporate logo changed pursuant to Regulation 30 of SEBI LODR Regulations, 2015
New brand identity unveiled on August 25, 2026
Updated branding hosted on company portal (https://b-rightgroup.com/news/media)

💡 No action required; investors should focus on core operational metrics such as pre-sales collections and new project launches in upcoming quarterly disclosures.

B-Right Realestate Unveils Vision 2033: Outlines Rs 12,102 Cr Pipeline & Rs 10,082 Cr Revenue Target

🟢 POSITIVE ⭐ 7/10

EXPANSION 📅 14 Aug 2026, 06:23 PM

B-Right Realestate has unveiled its 'Vision 2033' strategic roadmap targeting institutional leadership in Mumbai's urban redevelopment market. The company disclosed a total portfolio visibility of Rs 12,102 Cr across 30 projects (4.7 million sq. ft. saleable area), comprising 9 ongoing projects (Rs 1,445 Cr GDV) and 21 contracted pipeline projects (Rs 10,657 Cr GDV). Management projects revenue scaling from Rs 168 Cr in FY26 to Rs 10,082 Cr by FY33, representing a 79.5% CAGR. To fund this expansion, it plans to raise Rs 3,700 Cr (81% debt of Rs 3,000 Cr and 19% equity of Rs 700 Cr via alternate-year issuances with <=4% dilution per issue).

Identified total project pipeline of Rs 12,102 Cr across 30 projects and 4.7 million sq. ft. saleable area in 18 Mumbai micro-markets.
Portfolio anchored by flagship developments: Grandeur in Mulund West (Rs 2,095 Cr GDV) and SKY54 in Malad East (Rs 1,950 Cr GDV).
Capital raising plan of Rs 3,700 Cr through FY33, comprising Rs 3,000 Cr project-level debt and Rs 700 Cr equity across 18 lakh new shares while keeping promoter holding above 60%.
Targeting revenue expansion from Rs 168 Cr in FY26 to Rs 10,082 Cr by FY33 at a projected 79.5% CAGR.

💡 Track execution milestones and conversion of the 4 near-term redevelopment launches (Dadar, Jogeshwari, Andheri, Dahisar) over the next two quarters to gauge actual execution velocity against long-term targets.

B-Right Realestate acquires Tattva & Mittal Developers for ₹1 Lakh to secure Malad project

🟢 POSITIVE ⭐ 7/10

M&A 📅 13 Aug 2026, 04:46 PM

B-Right Realestate has completed the 100% acquisition of Tattva & Mittal Developers Private Limited for a nominal cash consideration of ₹1,00,000. The acquisition is a strategic move to take over a real estate project located in Kachpada, Malad West, Mumbai. The target entity is currently non-operational with zero turnover and a negative net worth of ₹2.37 lakh as of FY24. This transaction allows the company to expand its Mumbai micro-market pipeline at a minimal entry cost.

Acquisition of 100% equity stake for a total cash consideration of ₹1,00,000
Target entity reported Nil turnover and a loss of ₹20,000 for FY 2023-24
Secures control of a real estate project in the high-demand Kachpada, Malad West area of Mumbai
Target net worth stood at negative ₹2,37,200 as of March 31, 2024
Acquisition completed on the date of announcement, August 13, 2026

💡 Investors should watch for future disclosures regarding the estimated Gross Development Value (GDV) and the launch timeline for the Malad West project.

Rs 1600 Cr GDV Project: B-Right Realestate signs MoU for 5 Lakh Sq. Ft. Mumbai SRA Project

🟢 POSITIVE ⭐ 9/10

EXPANSION 📅 13 Aug 2026, 03:23 PM

B-Right Realestate's step-down subsidiary has signed a Memorandum of Understanding (MoU) for a Slum Rehabilitation Authority (SRA) project in Borivali, Mumbai. The project, situated on 10,008 Sq. Mtr. of land, is expected to yield a total sales area of 5 Lakh Sq. Ft. The estimated Gross Development Value (GDV) of Rs 1600 Cr is highly material, representing approximately 5.9x the company's TTM revenue of Rs 271 Cr. This acquisition significantly expands the company's project pipeline in the high-demand Mumbai micro-market.

Expected Gross Development Value (GDV) of Rs 1600 Crores for the new project
Total expected sales area of approximately 5 Lakh Sq. Ft. in Borivali, Mumbai
Project involves a land area of 10,008 Sq. Mtr. under the SRA scheme
GDV of Rs 1600 Cr is approximately 139% of the company's current market capitalization of Rs 1153 Cr
Execution through step-down subsidiary B-Right Bombay Highlines Developers Private Limited

💡 Investors should monitor the timeline for converting this MoU into a definitive agreement and the subsequent regulatory approval process, which is critical for SRA projects. Additionally, watch for updates on the financing structure for this project given the company's current Debt-to-Equity ratio of 1.06.

B-Right Realestate Ltd Announces 19th Annual General Meeting and E-Voting Details

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 25 Jul 2026, 03:03 PM

B-Right Realestate Ltd has published newspaper advertisements regarding its 19th Annual General Meeting (AGM) and e-voting procedures. This is a standard regulatory filing following the company's strong financial performance, including a TTM revenue of ‑271 Cr and a PAT of ‑49 Cr. The announcement is procedural, facilitating shareholder participation in upcoming corporate resolutions. Investors should monitor the full Annual Report for updates on the ‑352.63 Cr GDV addition reported in recent quarters.

19th Annual General Meeting (AGM) process initiated by the company.
Advertisements published on July 25, 2026, in Business Standard and Mumbai Lakshadeep.
Company maintains a significant market cap of ‑1235 Cr with a TTM EPS of ‑35.71.
Promoter holding remains stable at 73.15% as of June 2026.

💡 Investors should review the forthcoming Annual Report for detailed disclosures on project execution timelines in Mumbai and Lonavala, and the management's plan for the ‑187 Cr debt.

19th AGM Scheduled for August 14, 2026; Book Closure Announced

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 23 Jul 2026, 07:11 PM

B-Right Realestate Ltd has scheduled its 19th Annual General Meeting (AGM) for August 14, 2026. To determine shareholder eligibility, the company will close its register of members and share transfer books from August 7, 2026, to August 13, 2026. This is a standard regulatory procedure following a strong financial year where the company reported TTM revenue of ‡271 Cr and a PAT of ‡49 Cr. Investors should look for the detailed AGM notice for insights into the ‡352.63 Cr GDV project pipeline mentioned in recent filings.

19th Annual General Meeting (AGM) to be held on August 14, 2026.
Book closure period set from August 7, 2026, to August 13, 2026 (7 days).
Company maintains a healthy TTM OPM of 29.2% and ROCE of 22.0%.
Promoter holding remains stable at 73.15% as of June 2026.

💡 Review the upcoming Annual Report and AGM notice for updates on the execution of the Mumbai and Lonavala project pipelines and any potential dividend announcements.

B-Right Realestate FY26 Revenue Grows 62% to ₹169.9 Cr; Adds ₹1055 Cr GDV Pipeline

🟡 NEUTRAL ⭐ 4/10

ROUTINE 📅 23 Jul 2026, 07:01 PM

B-Right Realestate has released a revised FY2025-26 Annual Report to correct administrative omissions in e-voting instructions. The report confirms a strong financial year with revenue growing 62% to ₹169.9 crore and net profit reaching ₹35.1 crore. Operationally, the company achieved record pre-sales of ₹286.4 crore (up 54% YoY) and significantly expanded its pipeline by adding 8 new projects with a Gross Development Value (GDV) of ₹1055 crore. The company maintained a healthy adjusted EBITDA margin of 36.6% while selling 624 units across 3.94 lakh sq. ft.

Revenue for FY26 increased by 62% YoY to ₹169.9 crore
Achieved record pre-sales of ₹286.4 crore, representing 54% year-on-year growth
Added 8 new projects with a combined Gross Development Value (GDV) of ₹1055 crore
Sold 624 units totaling approximately 3.94 lakh sq. ft. of area
Adjusted EBITDA margins reached 36.6% reflecting efficient cost management

💡 Investors should focus on the execution timeline of the newly added ₹1055 crore GDV pipeline and the conversion of pre-sales into recognized revenue in upcoming quarters.

1.03M ESOP Pool Proposed; Company to Close Fixed Deposit Scheme

🟡 NEUTRAL ⭐ 5/10

BOARD_MEETING 📅 23 Jul 2026, 06:44 PM

B-Right Realestate has issued a corrigendum for its 19th AGM scheduled for August 14, 2026, proposing a new ESOP scheme and the closure of its Fixed Deposit scheme. The proposed ESOP 2026 scheme involves granting up to 1,033,120 options, which represents approximately 7.5% dilution of the current equity base. Additionally, the company will cease to invite, accept, or renew public deposits under its existing scheme, though current deposits will be serviced until maturity. The meeting will also seek to regularize the appointment of Mr. Prashant Shirsat as a Director.

Proposed ESOP 2026 scheme with a pool of 1,033,120 equity shares
Estimated equity dilution of approximately 7.5% based on current market capitalization
Closure of the company's Fixed Deposit scheme effective from August 14, 2026
Regularization of Mr. Prashant Shirsat, who was appointed as an Additional Director on November 13, 2025
Adoption of FY26 Audited Financials where TTM PAT stands at Rs 49 Cr

💡 Investors should monitor the voting results of the AGM on August 14, 2026, specifically regarding the ESOP dilution and the impact of closing the FD scheme on the company's debt profile.

B-Right Realestate FY26 Revenue up 62% to ₹169.9 Cr; Adds ₹1055 Cr GDV Pipeline

🟢 POSITIVE ⭐ 8/10

EARNINGS 📅 22 Jul 2026, 05:20 PM

B-Right Realestate reported a transformative FY26 with revenue growing 62% to ₹169.9 crore and net profit surging to ₹35.1 crore. The company achieved record pre-sales of ₹286.4 crore (up 54% YoY), selling 624 units across 3.94 lakh sq. ft. Most significantly, it added 8 new projects with a Gross Development Value (GDV) of ₹1055 crore, which is approximately 3.9x its TTM revenue, providing strong future visibility. Financial efficiency improved drastically with Return on Equity (ROE) jumping to 39.85% from 2.40% in the previous year.

Achieved highest-ever pre-sales of ₹286.4 crore, a 54% year-on-year growth
Added 8 new projects in FY26 with a combined Gross Development Value (GDV) of ₹1055 crore
Revenue for FY26 increased by 62% to ₹169.9 crore with a net profit of ₹35.1 crore
Return on Equity (ROE) expanded to 39.85% in FY26 from 2.40% in FY25
Sold 624 units totaling approximately 3.94 lakh sq. ft. during the financial year

💡 Investors should monitor the execution and construction milestones of the newly added ₹1055 crore GDV pipeline, as these will drive revenue recognition over the next 3-5 years. Additionally, track the sustainability of the high 36.6% adjusted EBITDA margins in the face of potential raw material price volatility.

1.03 Million ESOP Pool Proposed; Company to Close Fixed Deposit Scheme

🟡 NEUTRAL ⭐ 5/10

MANAGEMENT 📅 22 Jul 2026, 05:12 PM

B-Right Realestate has issued a notice for its 19th AGM scheduled for August 14, 2026. The primary agenda includes the approval of a new Employee Stock Option Scheme (ESOP 2026) with a pool of 1,033,120 shares, which represents approximately 7.5% of the current equity base. The company also plans to discontinue its Fixed Deposit scheme, ceasing to accept or renew deposits from the AGM date. Additionally, the meeting will address the re-appointment of Mr. Sanjay Nathalal Shah and the regularization of Mr. Prashant Shirsat as directors.

Proposed ESOP 2026 scheme involves the grant of up to 1,033,120 equity shares to eligible employees.
The ESOP pool represents a potential equity dilution of approximately 7.5% based on the current market capitalization of ₹1,193 Cr.
Decision to discontinue and close the company's Fixed Deposit scheme effective August 14, 2026.
Re-appointment of Mr. Sanjay Nathalal Shah, a CA with over 20 years of experience in corporate finance and real estate.
Regularization of Mr. Prashant Shirsat as a Non-Executive Non-Independent Director following his initial appointment in November 2025.

💡 Investors should monitor the AGM voting results, specifically the approval of the ESOP scheme and the impact of the resulting dilution on EPS. The closure of the FD scheme should be watched for any shifts in the company's cost of debt or financing strategy.

128% YoY Pre-Sales Growth to ₹180.94 Cr in Q1 FY27

🟢 POSITIVE ⭐ 7/10

OTHER 📅 20 Jul 2026, 07:04 PM

B-Right Realestate reported a strong start to FY27 with pre-sales reaching ₹180.94 Cr, a 128% increase compared to Q1 FY26. Collections also saw a significant jump of 151% YoY, totaling ₹43.13 Cr. This pre-sales figure is substantial, representing approximately 67% of the total TTM revenue (₹271 Cr) in just one quarter. The company is voluntarily disclosing these figures to improve transparency, as it is only mandated to report financials half-yearly.

Pre-sales value surged 128% YoY to ₹180.94 Cr in Q1 FY27 compared to ₹79.37 Cr in Q1 FY26
Collections increased 151% YoY to ₹43.13 Cr from ₹17.16 Cr in the previous year
Q1 FY27 pre-sales represent ~66.8% of the company's TTM revenue of ₹271 Cr
The company maintains a high promoter holding of 73.15% as of June 2026

💡 Monitor the conversion of these pre-sales into recognized revenue in the H1 FY27 results and watch for updates on project execution timelines in the Mumbai micro-markets.

15.50 Lakh Shares Proposed Under New ESOP and PSU Schemes; FD Scheme to Close

🟡 NEUTRAL ⭐ 5/10

BOARD_MEETING 📅 20 Jul 2026, 06:35 PM

B-Right Realestate's board has approved the 'ESOP 2026' and 'PSU 2026' schemes, proposing a total of 15.50 lakh equity shares for employees. This represents a potential equity dilution of approximately 11.3% based on the current market cap of Rs 1,125 Cr. Additionally, the board approved the closure of the company's Fixed Deposit scheme and the regularization of Mr. Prashant Shirsat as a Director. These proposals, along with the appointment of new internal and secretarial auditors, are subject to shareholder approval at the upcoming 19th AGM.

ESOP 2026 scheme approved covering 10,33,120 equity shares of Rs 10 each
Performance Based Stock Unit (PSU) 2026 scheme approved for 5,16,560 equity shares
Total potential dilution from both schemes is approximately 11.3% of current share capital
Board approved the closure of the existing Fixed Deposit Scheme, subject to member approval
DMS & Co. appointed as Internal Auditor and DSM & Associates as Secretarial Auditor

💡 Investors should monitor the upcoming 19th AGM for the final approval of these schemes and watch for the specific grant prices, which will determine the actual financial impact on EPS.

July 20 Board Meeting: ESOP 2026, PSU 2026, and FD Scheme Closure to be Considered

🟡 NEUTRAL ⭐ 4/10

BOARD_MEETING 📅 16 Jul 2026, 07:03 PM

B-Right Realestate has scheduled a board meeting for July 20, 2026, to deliberate on several corporate governance and incentive matters. The primary focus is the introduction of two new employee incentive plans: the 'BRRL – Employee Stock Option Scheme 2026' and the 'BRRL - Performance Based Stock Unit Scheme 2026', covering both the company and its subsidiaries. Additionally, the board will consider the closure of its existing Fixed Deposit Scheme and the regularization of Mr. Prashant Shirsat as a Director. Routine approvals for the FY 2025-26 Directors' Report and the 19th Annual General Meeting (AGM) notice are also on the agenda.

Board meeting scheduled for July 20, 2026, to approve the 19th AGM notice and FY26 reports.
Proposed adoption of 'BRRL – Employee Stock Option Scheme 2026' for company and subsidiary employees.
Proposed adoption of 'BRRL - Performance Based Stock Unit Scheme 2026' (PSU 2026).
Agenda includes the formal closure of the company's Fixed Deposit Scheme.
Appointment of DMS & Co. (FRN: 001169C) as Internal Auditor and DSM & Associates as Secretarial Auditor.

💡 Investors should monitor the post-meeting disclosure for the specific size of the ESOP and PSU pools to assess potential equity dilution.

View All 543543 Announcements on Live Market Tracking →

💰 Financial Performance

Revenue Growth by Segment

The company operates primarily in real estate development. Standalone Total Operating Income grew by 49.86% YoY, increasing from INR 3.51 Cr in FY23 to INR 5.26 Cr in FY24. Operational performance for 9M FY26 shows massive scaling with Pre-Sales reaching INR 208.42 Cr.

Geographic Revenue Split

100% of revenue and project operations are concentrated in Mumbai and surrounding areas like Lonavala, Maharashtra.

Profitability Margins

Standalone PAT margin improved slightly from 35.98% in FY23 to 36.37% in FY24. Gross profitability is driven by high-margin residential and commercial projects in premium Mumbai micro-markets.

EBITDA Margin

Standalone EBITDA margin saw a significant increase of 20.82 percentage points, rising from 49.01% in FY23 to 69.83% in FY24, reflecting improved operational efficiency and project mix.

Capital Expenditure

While specific fixed asset capex is not detailed, the company invested in business development by adding two new project sites in Q3 FY26 with a cumulative Gross Development Value (GDV) of INR 352.63 Cr.

Credit Rating & Borrowing

The credit rating was upgraded to IVR BBB-/Stable in December 2024 from IVR BB+/Negative. Total debt as of December 31, 2025, stood at INR 57.90 Cr, including a Q3 FY26 addition of INR 30 Cr for expansion.

⚙️ Operational Drivers

Raw Materials

Key raw materials include steel, cement, sand, bricks, and labor, which typically constitute 60-70% of total construction costs in the real estate sector.

Import Sources

Sourced locally within Maharashtra and India to minimize logistics costs for Mumbai-based projects.

Key Suppliers

Not specifically named in the documents, but involves standard construction material vendors and contractors.

Capacity Expansion

The company expanded its development pipeline in Q3 FY26 by adding two new sites with a GDV of INR 352.63 Cr. Current execution includes projects where ~86% of total saleable units have already been sold as of late 2024.

Raw Material Costs

Construction costs are managed through a centralized procurement team; however, specific YoY cost percentage changes for materials were not disclosed.

Manufacturing Efficiency

Focuses on innovative architecture and cost-efficient construction management to realize procurement efficiencies.

Logistics & Distribution

Not applicable as a traditional manufacturing metric, but project site logistics are managed locally in Mumbai.

📈 Strategic Growth

Expected Growth Rate

25-30%

Growth Strategy

Growth is driven by aggressive project pipeline expansion, evidenced by the INR 352.63 Cr GDV addition in Q3 FY26. The strategy focuses on high-demand Mumbai micro-markets, improving collection efficiency (INR 40.31 Cr in Q3 FY26), and leveraging the 'B-Right' brand for pre-sales momentum.

Products & Services

Residential apartments, commercial office spaces, and integrated real estate development projects.

Brand Portfolio

B-Right Realestate, B-Right Group.

New Products/Services

Addition of two new project sites in Q3 FY26 expected to contribute significantly to the long-term GDV and revenue pipeline.

Market Expansion

Expansion within Mumbai's residential micro-markets and Lonavala for leisure/residential projects.

Market Share & Ranking

Niche player in the Mumbai real estate market; specific industry ranking not disclosed.

Strategic Alliances

Operates through various subsidiaries and LLPs like B-Right Realestate Ventures LLP and Jaliyan B-Right Developers Private Limited for specific project execution.

🌍 External Factors

Industry Trends

The Indian real estate sector is witnessing high growth; Mumbai remains a financial hub with sustained residential demand. The industry is shifting toward organized players with strong execution track records.

Competitive Landscape

Competes with other Mumbai-based developers; differentiated by its integrated construction management and customer-centric financing model.

Competitive Moat

Moat is built on a successful track record in the complex Mumbai market, high pre-sale velocity (86% sold), and a robust internal financial control system that minimizes malpractice risks.

Macro Economic Sensitivity

Highly sensitive to India's GDP growth (projected at 6.5% for FY25) and urban housing demand in Mumbai.

Consumer Behavior

Shift toward branded developers and quality construction with modern amenities in Mumbai.

Geopolitical Risks

Low direct impact, though global commodity price fluctuations (steel/oil) affect local construction material costs.

⚖️ Regulatory & Governance

Industry Regulations

Subject to RERA compliance, Mumbai municipal building codes, and labor safety standards. The company confirmed it does not fall under the 'Large Corporate' category for SEBI debt issuance frameworks for FY25.

Environmental Compliance

Must adhere to RERA (Real Estate Regulatory Authority) and local municipal environmental norms for construction.

Taxation Policy Impact

Effective tax rate is reflected in the PAT margin of 36.37% on standalone operations.

Legal Contingencies

The Independent Auditor's Report for FY25 did not report any material misstatements or significant pending legal contingencies that would impair the 'true and fair view' of the financial statements.

⚠️ Risk Analysis

Key Uncertainties

Project execution risk and saleability risk are primary; however, 86% pre-sales mitigate this. Cyclicality in real estate could impact future GDV realization by 10-15%.

Geographic Concentration Risk

100% of projects are in and around Mumbai, making the company vulnerable to local regulatory changes or economic downturns in the Mumbai Metropolitan Region.