Crest Ventures Limited (CREST)
₹360.00 +0.94% last close, 16 Oct
Latest quarterly results (Q1 FY27)
In its latest reported quarter, Q1 FY27, Crest Ventures' net interest income was ₹24.9 Cr (-57.6% year on year, -6.2% on the previous quarter), and net profit ₹11.5 Cr (-55.5% year on year).
| Q1 FY27 (₹ Cr) | Value | YoY vs Q1 FY26 | QoQ |
|---|---|---|---|
| Net interest income | ₹24.9 | -57.6% | -6.2% |
| Operating profit | ₹8.4 | — | — |
| Net profit | ₹11.5 | -55.5% | +34.1% |
| EPS (₹) | 4.01 | -54.7% | +36.9% |
CREST delivery percentage
NSE end-of-day data for
On Fri, 16 Oct 2026, 85.4% of the CREST shares traded on NSE were taken to delivery, against the stock's own 20-session average of 74.94%. That is close to its usual level. Turnover was only ₹12 lakh, so a handful of trades can move this figure.
Delivery in the last 5 sessions: 87.5% · 75.5% · 77.7% · 88.1% · 85.4%
A description of what the exchange published, not a recommendation. Names such as "accumulation" or "long buildup" label a pattern in the numbers. How delivery is analysed
📢 Recent Corporate Announcements
Crest Ventures Limited has submitted its quarterly compliance certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended September 30, 2026. The certificate was issued by Registrar and Share Transfer Agent MUFG Intime India Private Limited (formerly Link Intime India Private Limited). The RTA confirmed that securities received for dematerialisation during the quarter were duly processed, confirmed/rejected, and mutilated as required within stipulated timelines. This represents a regular procedural filing with no operational or financial impact.
- Regulation 74(5) compliance certificate submitted for the quarter ended September 30, 2026
- Issued by RTA MUFG Intime India Private Limited dated October 3, 2026
- Filed with exchanges on October 12, 2026
- Covers equity ISIN INE559D01011 and debt ISIN INE559D08032
Crest Ventures Limited has submitted the official minutes of its 44th Annual General Meeting held on August 22, 2026. A total of 62 members attended the meeting via video conferencing. Shareholders approved all 5 resolutions, including the adoption of FY25-26 audited financial statements, declaration of dividend, re-appointment of Director Ms. Sheetal Kapadia, and approvals for material related-party transactions, with over 99.99% voting in favor.
- 44th AGM was conducted on August 22, 2026, with 62 members present via VC/OAVM
- Adoption of FY26 financial statements and dividend declaration approved with 99.9999% votes in favor
- Re-appointment of Ms. Sheetal Kapadia passed with 100.00% approval
- Material related-party transactions for the company and subsidiaries approved with 99.9925% votes in favor
Crest Ventures Limited announced the voting results and Scrutinizer's Report for its 44th Annual General Meeting held on August 22, 2026. All five resolutions were approved by shareholders with requisite majority, including the adoption of FY26 financial statements, dividend declaration, and approval for material related party transactions. A total of 22,727,140 votes were polled across routine agenda items representing 79.89% of total outstanding shares.
- All 5 resolutions passed with requisite majority at the 44th AGM held on August 22, 2026
- Adoption of FY26 financial statements approved with 99.9999% votes in favour out of 22,727,140 votes polled
- Declaration of dividend for FY25-26 approved with 100% votes in favour
- Material Related Party Transactions approved with 2,838,501 public votes in favour (99.9925%), with promoter abstaining as interested party
- Total shareholder count on record date (August 15, 2026) stood at 8,654
Crest Ventures Limited conducted its 44th Annual General Meeting on August 22, 2026. Managing Director Vijay Choraria reported that the consolidated balance sheet grew 35% to Rs 1,925 crore, while cash and cash equivalents more than doubled to Rs 235 crore. In the financial services vertical, the Non-SLR trading desk recorded ~30% revenue growth and the Derivatives desk grew 37%. In real estate, the company added two new projects (Crest Golfshire and Crest Saidale), sold over 70% of units at Crest Oaks, and achieved over 60% leasing at One National Park.
- Consolidated balance sheet increased 35% to Rs 1,925 crore, with cash and equivalents doubling to Rs 235 crore.
- Financial services revenue grew ~30% at the Non-SLR desk and 37% at the Derivatives desk.
- Real estate progress: Crest Oaks reached >70% sales, and One National Park JV with Phoenix Mills crossed 60% leasing.
- Shareholder resolutions submitted for e-voting included approval for material Related Party Transactions of the company and subsidiaries.
Crest Ventures Limited's wholly owned subsidiary, Crest EZY Living Private Limited, has incorporated two new step-down wholly owned subsidiaries: EZY Living Nest Private Limited (incorporated August 17, 2026) and EZY Living Spaces Private Limited (incorporated August 18, 2026). Each entity has an authorized share capital of INR 15,00,000 and a subscribed capital of INR 10,00,000. Both entities are created to focus on real estate development, including purpose-built rental housing (BTR), co-living, and student housing assets. Neither entity has commenced operations yet, resulting in zero immediate financial contribution.
- Incorporated two step-down wholly owned subsidiaries: EZY Living Nest Pvt Ltd and EZY Living Spaces Pvt Ltd
- Each entity established with INR 15,00,000 authorized capital and INR 10,00,000 subscribed capital
- Entities targeted at residential, commercial, BTR, co-living, and student housing assets
- Indirect ownership held at 100% via Crest EZY Living Private Limited with no promoter interest
Crest Ventures Limited has amended its 'Code of Conduct for Prevention of Insider Trading' following a Board meeting on August 13, 2026. The update, designated as Version 3.0, aligns internal policies with SEBI (Prohibition of Insider Trading) Regulations, 2015. The code outlines strict protocols for 'Designated Persons' and 'Connected Persons' regarding the handling of Unpublished Price Sensitive Information (UPSI). This is a routine administrative update to ensure regulatory compliance and does not affect the company's financial standing.
- Board of Directors approved the amended Code of Conduct in a meeting lasting 2.5 hours on August 13, 2026
- The updated Version 3.0 replaces the original document dated January 10, 2006
- Potential penalties for insider trading violations include fines up to ₹25 crores or three times the profit made
- Trading restrictions for connected persons remain in effect until 48 hours after UPSI is made public
- The code includes specific policies for determining 'legitimate purposes' and procedures for inquiring into UPSI leaks
Crest Ventures approved its unaudited standalone and consolidated financial results for the quarter ended June 30, 2026. A significant 'Emphasis of Matter' was raised by auditors regarding deposits totaling Rs 155.30 crore (Rs 15,529.75 lakhs) with certain counterparties, which management deems recoverable based on mortgage charges and collateral. This deposit amount is substantial, representing approximately 96% of the company's TTM revenue of Rs 162 crore. Additionally, the board amended its Insider Trading Code and confirmed that all Non-convertible Debenture (NCD) proceeds have been fully utilized.
- Auditor highlighted Rs 155.30 crore in deposits as an 'Emphasis of Matter', representing ~96% of TTM revenue.
- The deposits are secured by mortgage charges, joint venture agreements, and share pledges according to management.
- Share of loss from investment in one LLP was recorded at Rs 2.36 lakhs for the quarter ended June 30, 2026.
- The company confirmed 100% utilization of NCD proceeds, removing the need for deviation disclosures.
- Board meeting concluded at 5:30 p.m. on August 13, 2026, after a 2.5-hour session.
Crest Ventures Limited has approved the transfer of 3,000 equity shares to employees following the exercise of options under the Crest - Employees Stock Option Plan 2022. The shares were transferred from the Crest - Employee Welfare Trust, ensuring that the company's paid-up equity share capital remains unchanged. The exercise price for these options was fixed at INR 200 per share. This transaction is part of a broader scheme involving 2,53,000 total granted options.
- 3,000 equity shares of face value INR 10 each transferred to employees on August 12, 2026
- Exercise price for the stock options set at INR 200 per share
- Total of 2,53,000 options granted under the 2022 Scheme across two grants
- 66,000 options under ESOP Grant II have vested as of the reporting date
- Zero change in paid-up equity share capital as shares were sourced from an existing Employee Welfare Trust
Mr. Parag Shah, President - Investments and Credit, has retired from Crest Ventures effective July 31, 2026. As a Senior Management Personnel, he was responsible for the company's core investment and credit functions. Crest Ventures operates with a net worth of Rs 1,180 Cr and reported TTM revenue of Rs 162 Cr. The transition is a standard retirement, and the company has not yet named a successor in this filing.
- Retirement of Mr. Parag Shah effective from the closure of business hours on July 31, 2026
- Role involved oversight of Investments and Credit for a firm with Rs 1,180 Cr net worth
- Company reported TTM PAT of Rs 48 Cr against a market cap of Rs 1,094 Cr
- Mr. Shah ceases to be a Senior Management Personnel (SMP) as per SEBI regulations
Crest Ventures Limited has scheduled its 44th Annual General Meeting (AGM) for August 22, 2026, via video conferencing. The company is dispatching physical letters to shareholders without registered email addresses to provide web links for the FY 2025-26 Annual Report. A special one-year window, ending February 04, 2027, has also been highlighted for investors to re-lodge previously rejected physical share transfer deeds. This is a standard regulatory filing and does not impact the company's financial position.
- 44th Annual General Meeting scheduled for August 22, 2026, at 11:00 a.m. IST
- Annual Report for Financial Year 2025-26 made available on the company website and stock exchanges
- Special window for re-lodging physical share transfer deeds open until February 04, 2027
- Company reported TTM revenue of Rs 162 Cr and PAT of Rs 48 Cr for the period ending March 2026
Crest Ventures has issued the notice for its 44th Annual General Meeting (AGM) scheduled for August 22, 2026, via video conferencing. The company has fixed August 14, 2026, as the record date for a recommended final dividend of ₹1 per equity share. For FY 2025-26, the company reported a 35% growth in its consolidated balance sheet to ₹1,925 crore, with cash and cash equivalents doubling to ₹129 crore. The real estate segment is expanding its pipeline in Mumbai and Chennai, while the financial services division saw 30-37% growth in its Non-SLR and Derivatives desks.
- Recommended final dividend of ₹1 per equity share for FY 2025-26
- Consolidated balance sheet grew 35% year-on-year to ₹1,925 crore
- Cash and cash equivalents increased by over 100% to ₹129 crore
- Financial Services Non-SLR desk revenue grew by approximately 30%
- Real estate delivery exceeds 10 million sq. ft. with new projects added in Chembur and Breach Candy
Crest Ventures Limited (CVL) has received 'No Objection' from NSE and 'No adverse observations' from BSE on July 20, 2026, regarding its proposed Scheme of Arrangement with Crest Capital and Investment Limited (CCIL). This regulatory clearance follows the initial board approval from December 18, 2025. The company is now authorized to proceed with filing the scheme before the National Company Law Tribunal (NCLT). A critical requirement is that the resulting company, CCIL, must list and commence trading within 60 days of the final NCLT order.
- Received 'No objection' from NSE and 'No adverse observations' from BSE on July 20, 2026
- Resulting company (CCIL) must commence trading within 60 days of the NCLT order
- Observation letter remains valid for 6 months from the date of sectoral regulatory approval
- Financials used for the valuation report must not be more than 6 months old at the time of filing
- Company must disclose all ongoing adjudication and recovery proceedings against promoters/directors before NCLT
Crest Ventures has announced a final dividend of ₹1 per share for FY 2025-26, representing a 10% payout on the face value of ₹10. The company has set August 14, 2026, as the record date to determine eligible shareholders. Investors must submit relevant tax documents by August 10, 2026, to ensure appropriate TDS rates are applied. The dividend is subject to approval at the AGM scheduled for August 22, 2026, with payment expected by August 28, 2026.
- Final dividend recommended is ₹1 per equity share of face value ₹10.
- Record date for eligibility is fixed as Friday, August 14, 2026.
- Deadline for submitting tax-related documents (Form 15G/15H, etc.) is August 10, 2026.
- The 44th Annual General Meeting (AGM) is scheduled for August 22, 2026.
- Dividend payment is scheduled to be completed on or before August 28, 2026.
Crest Ventures Limited has filed its quarterly compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018 for the period ended June 30, 2026. The certificate, issued by MUFG Intime India Private Limited, confirms that share certificates received for dematerialization were processed and listed on the stock exchanges. This is a standard administrative filing required for all listed companies to ensure the integrity of electronic shareholding records. There is no impact on the company's financial performance or business operations.
- Compliance certificate issued for the quarter ended June 30, 2026
- Registrar MUFG Intime India confirmed dematerialization requests were processed within prescribed timelines
- Physical certificates were mutilated and cancelled after due verification
- Company maintains a market capitalization of Rs 1075 Cr as per recent data
Crest Ventures, through its 100% subsidiary Sutlej Housing Pvt. Ltd., has signed a Development Agreement with Prafulla Co-operative Housing Society in Dadar East, Mumbai. This society is a constituent of a larger cluster redevelopment initiative with an estimated overall Gross Development Value (GDV) of Rs 2,200 Crore. This project is highly material as the total GDV represents approximately 186% of the company's current net worth of Rs 1,180 Crore. The move aligns with the company's strategy to focus on premium, high-demand Mumbai micro-markets.
- Estimated overall Gross Development Value (GDV) of the cluster project is Rs 2,200 Crore
- Agreement signed via wholly owned subsidiary Sutlej Housing Pvt. Ltd. (SHPL)
- Project is located in Dadar East, a primary multimodal transit and commercial hub in Mumbai
- Dadar (E) Redevelopment is scheduled for a Q2 FY27 launch as per the company's expansion pipeline
Financial Performance
Revenue Growth by Segment
Standalone total income grew 17.3% YoY to INR 164.14 Cr in FY25. Financial Services saw robust growth with the Non-SLR desk achieving 25% revenue growth and the Derivatives Desk posting 38.15% YoY growth. Real Estate segment contributions include Crest Aspen at 9% of revenue and Crest Golfshire at 15% of revenue.
Geographic Revenue Split
Primarily concentrated in Mumbai, India (100%), with key projects in Dadar (E), Andheri (E), Chembur, Breach Candy, Carter Road, and Parel. Tamarind Global associate (23.14% stake) provides international exposure across the Middle East, Australia, U.K., and Africa.
Profitability Margins
Standalone Net Profit Margin was 48.02% in FY25 (INR 78.82 Cr PAT on INR 164.14 Cr income). Consolidated Net Profit Margin stood at 44.09% in FY25 (INR 90.17 Cr PAT on INR 204.52 Cr income), reflecting strong operational efficiency despite a loss of INR 1.35 Cr from associates.
EBITDA Margin
Standalone Profit Before Tax (PBT) margin was 58.2% in FY25, up from 47.5% in FY24. Core profitability is driven by high-margin financial services and successful real estate exits, with standalone PAT growing 58.7% YoY.
Capital Expenditure
Planned project values include Dadar (E) Redevelopment at INR 2,200 Cr, Crest Golfshire at INR 1,850 Cr, Project Saidale at INR 1,300 Cr, and Crest Aspen at INR 370 Cr. Total delivered real estate exceeds 10 million sq. ft.
Credit Rating & Borrowing
CARE BBB; Stable (Reaffirmed Dec 2025). The company demonstrates the ability to raise funds from banks at competitive rates. Rating constraints include reliance on unsecured Inter-Corporate Deposits (ICDs) with shorter tenures.
Operational Drivers
Raw Materials
Land (primary asset), Steel, and Cement (construction inputs). Specific cost percentages for materials are not disclosed, but land acquisition and construction costs are the primary drivers of the real estate vertical.
Import Sources
Sourced domestically within India, specifically in the Maharashtra region for Mumbai-based projects.
Key Suppliers
Strategic tie-ups for development include Kalpataru and The Phoenix Mills Limited. Raw material vendors are not specifically named.
Capacity Expansion
Current delivery exceeds 10 million sq. ft. Planned expansion includes Crest Golfshire (Q4 FY26), Crest Aspen (Q1 FY27), Project Saidale (Q1 FY27), and Dadar (E) Redevelopment (Q2 FY27).
Raw Material Costs
Not explicitly disclosed as a % of revenue; however, standalone total expenses were INR 68.55 Cr in FY25, a decrease of 6.7% YoY despite higher revenue, indicating improved procurement and cost management.
Manufacturing Efficiency
Real estate efficiency is measured by project delivery; the group has delivered over 10 million sq. ft. and maintains a healthy booking pipeline for upcoming projects.
Strategic Growth
Expected Growth Rate
17.30%
Growth Strategy
Growth will be achieved through the IFSC framework at GIFT City for global treasury and derivatives, expansion of Tamarind Global into new geographies, and the execution of a high-value real estate pipeline in Mumbai totaling over INR 7,920 Cr in estimated project values.
Products & Services
Residential apartments (luxury and mid-income), Commercial real estate, Inter-dealer broking (G-Secs, Corporate Bonds), Interest Rate Swaps, Currency Options, and Credit/Lending services.
Brand Portfolio
Crest Ventures, Crest Finserv, Crest Oaks, Crest Aspen, Crest Golfshire, Tamarind Global, Two Brothers Organic Farms.
New Products/Services
GIFT City operations for treasury and global access platforms; bespoke OTC broking products to offset pricing pressures.
Market Expansion
Expansion into GIFT City (IFSC) and Tamarind Global's expansion into the Middle East, Australia, U.K., and Africa.
Market Share & Ranking
Crest Finserv is a leading player in Wholesale Debt and Forex markets with a 25-year track record. Industry ranking is not specified.
Strategic Alliances
Partnerships with Kalpataru and The Phoenix Mills Limited for real estate; 23.14% stake in Tamarind Global; 100% ownership of Crest Finserv Limited.
External Factors
Industry Trends
The industry is shifting toward digital transformation and algorithmic trading. Real estate is seeing high demand in luxury and mid-income segments in Mumbai, supported by infrastructure growth.
Competitive Landscape
Competes with other Category I Merchant Bankers and inter-dealer brokers; faces pricing pressure in vanilla financial products.
Competitive Moat
Durable advantages include a 40+ year operational track record (since 1982), experienced management (MD Vijay Choraria has 35+ years experience), and a high Capital Adequacy Ratio of 86.54%.
Macro Economic Sensitivity
Sensitive to RBI monetary policy (USD/INR management) and interest rate cycles, which drove 38.15% growth in the Derivatives Desk.
Consumer Behavior
Rising demand from MSMEs and mid-cap companies for tailored hedging and risk management solutions.
Geopolitical Risks
Shifts in global capital flows or liquidity could impact market activity in the financial services segment.
Regulatory & Governance
Industry Regulations
Subject to RBI NBFC norms (Middle-layer NBFC), SEBI Listing Regulations, and the IFSC framework for GIFT City operations.
Taxation Policy Impact
Standalone provision for tax was INR 16.77 Cr in FY25, representing an effective tax rate of approximately 17.5% on PBT.
Legal Contingencies
Not disclosed; however, the company maintains robust internal financial controls and Audit Committee oversight to manage financial risks.
Risk Analysis
Key Uncertainties
Real estate sector risk (asset concentration in Mumbai), income volatility from the investment book, and reliance on short-term unsecured ICDs.
Geographic Concentration Risk
High concentration in Mumbai, India, for the real estate vertical (100% of current development projects).
Third Party Dependencies
Dependency on co-developers like Kalpataru and Phoenix Mills for specific large-scale projects.
Technology Obsolescence Risk
Mitigated by investments in digital transformation and algorithmic trading workflows in the broking business.
Credit & Counterparty Risk
Credit exposure is primarily in real estate lending; Gross NPA ratio is a key monitored metric with a 1.50% threshold for rating stability.
