Homesfy Realty Limited (HOMESFY)
Latest quarterly results (H2 FY26)
In its latest reported quarter, H2 FY26, Homesfy Realty's revenue was ₹21.0 Cr (-25.0% year on year, +5.0% on the previous half-year), and net profit ₹-12.0 Cr; the operating margin was -52.4%.
| H2 FY26 (₹ Cr) | Value | YoY vs H2 FY25 | vs prev. half |
|---|---|---|---|
| Revenue | ₹21.0 | -25.0% | +5.0% |
| Operating profit | ₹-11.0 | — | loss widened |
| Net profit | ₹-12.0 | — | loss widened |
| EPS (₹) | -36.98 | loss widened | loss widened |
| Operating margin | -52.4% | — | — |
📢 Recent Corporate Announcements
Homesfy Realty Limited has convened its 15th Annual General Meeting (AGM) for September 26, 2026, via video conferencing. Key resolutions include the appointment of M/s Shah Sanghvi & Associates as Statutory Auditors for a 5-year term, following the casual vacancy caused by the resignation of M/s Venus Shah & Associates LLP. The company is also seeking shareholder approval to pay remuneration of up to ₹60 Lakh per annum to Executive Director Mukesh Kumar Mishra, exceeding statutory limits due to operating losses (TTM PAT of ₹-20 Cr).
- 15th AGM scheduled for Saturday, September 26, 2026 at 10:00 AM IST via VC/OAVM
- Proposed appointment of M/s Shah Sanghvi & Associates as Statutory Auditors for a 5-year term (15th to 20th AGM)
- Filling casual vacancy of statutory auditor effective August 29, 2026, following resignation of M/s Venus Shah & Associates LLP
- Special resolution seeking approval for Executive Director Mukesh Kumar Mishra's remuneration of up to ₹60,00,000 per annum
Homesfy Realty's Board has approved the appointment of M/s Shah Sanghvi & Associates, Chartered Accountants, as Statutory Auditors to fill the casual vacancy following the resignation of M/s Venus Shah & Associates LLP, subject to shareholder approval. The firm is also recommended for a 5-year term from the 15th AGM until the 20th AGM in 2031. Additionally, ATMS & Co. LLP was appointed as Internal Auditor for FY 2026-27, and the 15th Annual General Meeting is scheduled for September 26, 2026.
- Appointment of M/s Shah Sanghvi & Associates as Statutory Auditors for a 5-year term from the 15th AGM to the 20th AGM (2031)
- Statutory auditor casual vacancy arose due to the resignation of M/s Venus Shah & Associates LLP
- Appointment of ATMS & Co. LLP as Internal Auditor for FY 2026-27
- 15th Annual General Meeting scheduled for September 26, 2026
Homesfy Realty Limited's Board of Directors has approved the appointment of M/s Shah Sanghvi & Associates as Statutory Auditors to fill a casual vacancy following the resignation of M/s Venus Shah & Associates LLP, and recommended a 5-year term through the 2031 AGM. The Board also appointed M/s ATMS & Co. LLP as Internal Auditor for FY 2026-27 and approved the re-appointment and remuneration limits for Executive Director Mukesh Kumar Mishra. The company's 15th Annual General Meeting is scheduled to be held virtually on September 26, 2026.
- Appointed M/s Shah Sanghvi & Associates as Statutory Auditors for a 5-year tenure until the 20th AGM in 2031, subject to shareholder approval.
- Casual vacancy arose following the resignation of previous Statutory Auditors, M/s Venus Shah & Associates LLP.
- Appointed M/s ATMS & Co. LLP (27+ years in business, team size of 214) as Internal Auditor for FY 2026-27.
- Convened 15th Annual General Meeting for September 26, 2026 via audio-visual means.
Homesfy Realty Limited's Board has approved the appointment of M/s Shah Sanghvi & Associates as Statutory Auditors to fill a casual vacancy arising from the resignation of M/s Venus Shah & Associates LLP. The board also recommended their regular appointment for a 5-year term from the 15th AGM until the 20th AGM in 2031. In addition, M/s ATMS & Co. LLP was appointed as Internal Auditor for FY 2026-27, and the 15th Annual General Meeting was scheduled for September 26, 2026.
- Appointed M/s Shah Sanghvi & Associates as Statutory Auditors to fill casual vacancy and recommended a 5-year tenure until the 20th AGM in 2031.
- Casual vacancy arose following the resignation of previous auditor M/s Venus Shah & Associates LLP.
- Appointed M/s ATMS & Co. LLP as Internal Auditor for FY 2026-27.
- 15th AGM scheduled for September 26, 2026 via audio-visual means.
- Approved executive director remuneration limit for Mr. Mukesh Kumar Mishra in excess of prescribed limits, subject to AGM approval.
Homesfy Realty Limited's Board approved the appointment of M/s Shah Sanghvi & Associates as Statutory Auditors to fill the casual vacancy caused by the resignation of M/s Venus Shah & Associates LLP, subject to shareholder approval. The Board also recommended their continuation for a 5-year term until the 20th AGM in 2031. Additionally, ATMS & Co. LLP was appointed as Internal Auditor for FY 2026-27, and the 15th AGM was scheduled for September 26, 2026.
- M/s Shah Sanghvi & Associates appointed as Statutory Auditor to fill casual vacancy and for a 5-year term up to 2031
- Casual vacancy caused by the resignation of previous statutory auditor M/s Venus Shah & Associates LLP
- M/s ATMS & Co. LLP appointed as Internal Auditor for FY 2026-27
- 15th Annual General Meeting convened for September 26, 2026
Homesfy Realty Limited announced that its statutory auditor, M/s Venus Shah & Associates LLP, has tendered their resignation effective from the close of business on August 12, 2026. The company stated that no concerns were raised by the outgoing auditor regarding management and no material reasons were cited. The Board of Directors and Audit Committee plan to appoint a new statutory auditor in due course to fill the casual vacancy.
- M/s Venus Shah & Associates LLP resigned as Statutory Auditor effective August 12, 2026
- Company confirmed no adverse concerns were raised regarding management
- Audit Committee and Board to initiate appointment of replacement statutory auditor to fill casual vacancy
Homesfy Realty Limited announced the resignation of its statutory auditor, M/s Venus Shah & Associates LLP, effective from the close of business hours on August 12, 2026. The company stated that the resigning auditor raised no concerns regarding management. The Board and Audit Committee plan to appoint a successor auditor in due course to fill the casual vacancy. The change occurs amid ongoing operational headwinds, with the microcap firm (market cap of ₹40 Cr) reporting a TTM net loss of ₹20 Cr.
- M/s Venus Shah & Associates LLP resigned as statutory auditor effective August 12, 2026.
- Resignation letter submitted on August 12, 2026, with no adverse management concerns reported by the company.
- Casual vacancy to be filled by the Board and Audit Committee in an upcoming meeting.
- Homesfy operates at a market cap of ₹40 Cr with TTM revenues of ₹99 Cr and net losses of ₹20 Cr.
Homesfy Realty Limited has announced the resignation of its statutory auditor, M/s Venus Shah & Associates LLP, effective August 12, 2026. The company stated that the auditor raised no concerns regarding management and there were no material reasons for the resignation. This change occurs while the company is under financial pressure, reporting a TTM loss of ₹20 Cr and a negative ROCE of 49%. The Board is expected to appoint a new auditor to fill the casual vacancy shortly.
- Statutory Auditor M/s Venus Shah & Associates LLP resigned effective August 12, 2026.
- Company reports a TTM net loss of ₹20 Cr against a market capitalization of only ₹40 Cr.
- TTM revenue stands at ₹99 Cr, but the company has seen operating margins drop to -18.2%.
- Promoter holding remains stable at 53.04% as of March 2026.
Homesfy Realty Limited has announced the resignation of its statutory auditor, M/s Venus Shah & Associates LLP, effective August 12, 2026. The company stated that the auditor raised no concerns and there were no material reasons for the exit, though the change occurs amidst a period of financial stress. The company currently reports a TTM net loss of ₹20 Cr and has seen its share price decline by 58.2% over the past year. The board is expected to appoint a new auditor to fill the casual vacancy in due course.
- Statutory Auditor M/s Venus Shah & Associates LLP resigned effective August 12, 2026.
- Company reported a TTM net loss of ₹20 Cr on a revenue base of ₹99 Cr.
- The stock has experienced a significant 12-month price decline of 58.2%.
- Market capitalization stands at a micro-cap level of ₹40 Cr.
- The company reported a net loss of ₹12.0 Cr in the most recent March 2026 quarter.
Financial Performance
Revenue Growth by Segment
Consolidated revenue for FY25 was INR 58.67 Cr, a marginal decline from INR 60.9 Cr in FY24. In H1FY26, revenue was INR 19.53 Cr, down 35.31% YoY from INR 30.19 Cr. The core direct broking segment saw a 9% decline in Gross Transaction Value (GTV) in FY25, while the broker aggregator platform (mymagnet.io) grew GTV by 60% YoY to INR 569 Cr. Home loan disbursements grew 12% YoY to INR 271 Cr.
Geographic Revenue Split
The company operates primarily in MMR (Mumbai Metropolitan Region), Pune, Bengaluru, and Hyderabad. FY25 performance was adversely impacted by delayed launches in Bengaluru and Navi Mumbai. The company is expanding into Western Mumbai, Harbour, South Mumbai, and has established an international presence via Homesfy Global Realty LLC in Dubai, which received an investment of INR 34.03 Lakhs.
Profitability Margins
Net profit margin declined significantly; FY25 PAT was INR 1.37 Cr (2.3% margin) compared to INR 2.71 Cr in FY24, a 49% decline. H1FY26 reported a net loss of INR 8.54 Cr compared to a profit of INR 1.42 Cr in H1FY25. Return on Equity (ROE) fell from 7.17% in FY24 to 3.07% in FY25 due to lower operating leverage and higher tech investments.
EBITDA Margin
EBITDA for FY25 was INR 1.55 Cr (2.6% margin) vs INR 3.33 Cr in FY24. In H1FY26, EBITDA margin collapsed to -44% (Loss of INR 8.65 Cr) from 7% in H1FY25, representing a 536.41% YoY decline in EBITDA value.
Capital Expenditure
The company invested INR 34.03 Lakhs for 150 equity shares in its Dubai subsidiary, Homesfy Global Realty LLC. Significant internal capital is being diverted toward technology infrastructure, CRM systems, and process automation to improve lead-to-sale conversions.
Credit Rating & Borrowing
The company maintains a Debt-Equity Ratio of 0.00 as of March 2025, indicating a debt-free balance sheet. Finance costs for H1FY26 were minimal at INR 0.89 Lakhs, down from INR 18.55 Lakhs in H1FY25.
Operational Drivers
Raw Materials
As a service-based brokerage, the primary 'raw materials' are human capital (452 employees) and digital leads. Employee benefit expenses and technology infrastructure costs are the primary operational drivers.
Key Suppliers
Key partners include real estate developers such as Lodha, Godrej, Prestige, Dosti, Runwal, Hiranandani, Piramal, Raymond, and Mahindra, who provide the inventory for sale.
Capacity Expansion
The company currently employs 452 individuals (69% men, 31% women). It has set a long-term target to facilitate 5,000 home sales annually by FY29, up from current levels (GTV of INR 2,280 Cr in FY25).
Raw Material Costs
Not applicable; however, salesforce expansion and technology investments led to a 77% decline in EBIT in FY25 as the company prioritized long-term capability building over near-term margins.
Manufacturing Efficiency
Operational efficiency is measured by 'closures per agent' and 'lead-to-sale conversions' through CRM optimization. Average ticket size increased 22% YoY to INR 1.3 Cr per unit in FY25.
Logistics & Distribution
Distribution is digital-led. The company is deepening its digital-led distribution network to reach micro-markets at a lower cost per acquisition.
Strategic Growth
Expected Growth Rate
20-25%
Growth Strategy
Growth will be driven by a three-pronged strategy: direct broking, channel aggregation via mymagnet.io, and exclusive mandates. The company is targeting 5,000 annual sales by FY29 by expanding in high-demand micro-markets in Mumbai and scaling its home loan vertical (INR 271 Cr disbursed in FY25).
Products & Services
Real estate brokerage services for residential and commercial spaces, plotting projects, home loan facilitation, and exclusive project marketing mandates.
Brand Portfolio
Homesfy, mymagnet.io.
New Products/Services
Mandate-based business (exclusive project sales) and expansion of the 'Be Your Own Boss' scheme for employee-led professional pathways.
Market Expansion
Expansion into Dubai via Homesfy Global Realty LLC and deepening presence in Tier 2/3 markets through the broker aggregator model.
Market Share & Ranking
First real estate brokerage firm listed on NSE Emerge; aims to formalize the fragmented brokerage industry in India.
Strategic Alliances
Preferred channel partnerships with major developers like Lodha, Godrej, and Prestige. Strategic investment in the Dubai subsidiary to capture NRI demand.
External Factors
Industry Trends
The Indian real estate market is expected to reach USD 1.04 Trillion, contributing 15.5% to GDP. The industry is shifting toward organized, tech-enabled brokerage platforms to address fragmentation.
Competitive Landscape
Competes with unorganized local brokers and emerging digital platforms. Fragmentation and low awareness of co-broking models in Tier 2/3 cities remain challenges.
Competitive Moat
Moat is built on being the first listed player, providing transparency and scale. The 'mymagnet.io' platform creates a network effect by aggregating smaller brokers into a unified tech ecosystem.
Macro Economic Sensitivity
Highly sensitive to the real estate cycle and interest rates. A 22% increase in ticket sizes helped offset a 9% decline in transaction volumes in FY25.
Consumer Behavior
Shift toward higher-priced properties; 34% of Mumbai transactions in 2024 were for properties priced above INR 10 million.
Geopolitical Risks
Indo-Pakistan war tensions in early 2025 were explicitly cited as a reason for a temporary INR 4-5 Cr revenue shortfall.
Regulatory & Governance
Industry Regulations
Operations are governed by the Companies Act 2013 and Accounting Standard 9 (Revenue Recognition). The company must comply with RERA (Real Estate Regulatory Authority) norms for brokerage activities.
Environmental Compliance
Not disclosed as a material cost for the brokerage industry.
Taxation Policy Impact
The company reported a tax credit/provision of INR -0.78 Lakhs in H1FY26 due to operating losses. FY25 tax provision was INR 48.47 Lakhs.
Legal Contingencies
No specific pending court cases or values in INR were disclosed in the provided documents.
Risk Analysis
Key Uncertainties
Market recovery speed and external geopolitical stability. The H1FY26 loss of INR 8.54 Cr highlights the risk of high fixed costs (tech/staff) during revenue soft patches.
Geographic Concentration Risk
High concentration in MMR and Pune; FY25 performance was significantly hampered by localized delays in Bengaluru and Navi Mumbai.
Third Party Dependencies
Highly dependent on developer partners for inventory; a 24% fall in gross bookings was linked to developer-side launch delays.
Technology Obsolescence Risk
Risk of competing platforms; company is mitigating this by investing in its own CRM and the mymagnet.io aggregator platform.
Credit & Counterparty Risk
Unbilled revenue of INR 15.27 Cr represents a credit risk if developer commissions are delayed or projects are stalled.
