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Pansari Developers Limited (PANSARI)

📊 NSE: PANSARI 🏢 Construction 📢 Latest filing: 08 Oct 2026 📝 Analysis written: 14 Dec 2025

Latest quarterly results (Q1 FY27)

In its latest reported quarter, Q1 FY27, Pansari Developers' revenue was ₹14.6 Cr (-17.4% year on year, +7.9% on the previous quarter), and net profit ₹4.0 Cr (-3.8% year on year); the operating margin was 25.9%.

Q1 FY27 (₹ Cr)	Value	YoY vs Q1 FY26	QoQ
Revenue	₹14.6	-17.4%	+7.9%
Operating profit	₹3.8	-32.7%	from loss
Net profit	₹4.0	-3.8%	-51.7%
EPS (₹)	2.28	-3.8%	-51.8%
Operating margin	25.9%	—	—

Full quarterly financials → Results calendar →

PANSARI delivery percentage

NSE end-of-day data for Fri, 16 Oct 2026

On Fri, 16 Oct 2026, 100.0% of the PANSARI shares traded on NSE were taken to delivery, against the stock's own 20-session average of 80.01%. That is higher than usual for this stock. Turnover was under ₹1 lakh, so a handful of trades can move this figure. Volume was 0.2 times its average, well below normal.

100.0%Delivery, 16 Oct

80.01%Own 20-session average

0.2×Volume vs its average

₹253.00NSE close · -4.31%

Delivery in the last 5 sessions: 98.5% · 86.4% · 59.0% · 79.8% · 100.0%

Delivery across the market →

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

Pansari Developers Submits Q2 FY27 Dematerialisation Compliance Certificate

🟡 NEUTRAL ⭐ 1/10

ROUTINE 📅 08 Oct 2026, 02:48 PM

Pansari Developers Limited has submitted its confirmation certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended September 30, 2026. The certificate issued by Registrar and Share Transfer Agent MUFG Intime India Private Limited confirms that security certificates received for dematerialisation were processed and verified within prescribed timelines. Furthermore, cancelled certificates were appropriately substituted in the register of members. This represents a regular procedural compliance filing with zero financial impact.

Regulation 74(5) compliance confirmed for the quarter ended 30th September 2026
Issued by Registrar MUFG Intime India Private Limited on 03-10-2026
Securities processed were confirmed, rejected, or mutilated within prescribed regulatory timelines

💡 No action required; track upcoming financial results for Q2 FY27 for operational and financial performance.

Pansari Developers AGM: Shareholders Approve All Resolutions with 100% Voting in Favour

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 01 Oct 2026, 12:21 PM

Pansari Developers Limited reported the voting results and Scrutinizer's report for its 30th Annual General Meeting held on September 30, 2026. A total of 12,889,321 votes were polled across 30 members, representing 73.88% of total outstanding shares, with exactly 100% cast in favour and 0% against. Approved resolutions include the adoption of financial statements, statutory auditor appointments, and the re-appointments/appointments of executive and independent directors.

Total of 12,889,321 votes polled, representing 73.8779% of the total 17,446,800 outstanding shares
100% of votes cast in favour (0 votes against) across all 8 proposed ordinary and special resolutions
Promoter and Promoter Group accounted for 12,889,299 votes (100% of their holding), while public non-institutional e-voting contributed 22 votes
Re-appointment of Mahesh Kumar Agarwal as CMD and Ankit Agarwal as Whole Time Director approved

💡 Track the upcoming Q2 FY27 earnings release and real estate project delivery updates under the 'Purti' brand in the Eastern region.

Pansari Developers Convenes 30th AGM on Sept 30, 2026; Re-appoints Key Management

🟡 NEUTRAL ⭐ 3/10

MANAGEMENT 📅 08 Sep 2026, 06:09 PM

Pansari Developers has issued notice for its 30th Annual General Meeting scheduled for September 30, 2026. Key agenda items include the re-appointment of Mahesh Kumar Agarwal as CMD for a 5-year tenure with proposed annual remuneration of ₹50 Lacs. Additionally, Ankit Agarwal is proposed for re-appointment as Whole Time Director for 5 years at an annual remuneration of ₹25 Lacs (up from nil in FY26). The company is also appointing three Non-Executive Independent Directors and a statutory auditor.

30th Annual General Meeting to be held on September 30, 2026, at Kolkata
Re-appointment of CMD Mahesh Kumar Agarwal for 5 years with proposed remuneration of ₹50 Lacs per annum
Re-appointment of Whole Time Director Ankit Agarwal for 5 years with proposed remuneration of ₹25 Lacs per annum (vs NIL last drawn)
Appointment of M/s Agarwal Vishwanath & Associates as Statutory Auditors

💡 Track shareholder voting results following the AGM on September 30, 2026, and monitor upcoming Q2 FY27 operational updates for project execution in the Eastern corridor.

Pansari Developers Appoints 3 Independent Directors & New Auditor Ahead of 30th AGM

🟡 NEUTRAL ⭐ 3/10

MANAGEMENT 📅 24 Aug 2026, 05:20 PM

Pansari Developers Limited has scheduled its 30th Annual General Meeting (AGM) for September 30, 2026. The Board approved the appointment of three new Non-Executive Independent Directors—Ms. Sweta Agarwal, Ms. Neha Yadav, and Ms. Nikita Rateria—each for a 5-year term from August 24, 2026 to August 23, 2031, replacing three outgoing directors whose terms expired. Furthermore, the company recommended M/s. Agarwal Vishwanath & Associates as Statutory Auditors for FY 2026-27 in place of retiring auditors M/s. GARV & Associates. Audit, Nomination & Remuneration, and Stakeholders Relationship Committees have been reconstituted accordingly.

30th Annual General Meeting scheduled for September 30, 2026
3 new Independent Directors appointed for a 5-year tenure (August 24, 2026 to August 23, 2031)
Cessation of 3 directors (Manoj Agarwal, Debasish Bal, and Garima Agarwal) upon term expiry
M/s. Agarwal Vishwanath & Associates proposed as Statutory Auditors for FY 2026-27
Register of members to remain closed from September 23, 2026 to September 25, 2026

💡 Track voting resolutions and shareholder approvals at the AGM on September 30, 2026, alongside upcoming Q2 FY27 operational updates.

Pansari Developers Q1 Net Profit at ₹3.98 Cr; Statutory Auditor Resigns Over Fee Dispute

🔵 WATCH ⭐ 7/10

EARNINGS 📅 13 Aug 2026, 04:17 PM

Pansari Developers reported a consolidated net profit of ₹3.98 crore for Q1 FY27, representing a 3.9% decline compared to ₹4.14 crore in the same quarter last year. Revenue from operations fell 17.4% YoY to ₹14.65 crore, though it showed a sequential recovery from ₹13.58 crore in Q4 FY26. A significant development is the resignation of the statutory auditor, Garv & Associates, effective August 14, 2026, citing that current fees are not commensurate with the audit effort required. The auditor issued an unmodified opinion on the current results before their departure.

Revenue from operations stood at ₹14.65 crore, a 17.4% decrease from ₹17.74 crore in Q1 FY26.
Net profit for the quarter was ₹3.98 crore, down from ₹4.14 crore YoY but significantly lower than the ₹8.25 crore reported in the preceding quarter.
Total income of ₹17.14 crore was bolstered by 'Other Income' of ₹2.49 crore.
Statutory Auditor Garv & Associates resigned effective August 14, 2026, following a fee disagreement initiated on August 6, 2026.
Earnings Per Share (EPS) for the quarter stood at ₹2.28 compared to ₹2.37 in the year-ago period.

💡 Investors should monitor the timely appointment of a successor auditor and review the next quarterly filing for any changes in financial reporting quality or disclosures.

Pansari Developers Submits Quarterly Compliance Certificate for June 2026

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 10 Jul 2026, 03:01 PM

Pansari Developers Limited has filed its quarterly compliance certificate under Regulation 74(5) of SEBI (Depositories and Participants) Regulations, 2018. The document, issued by MUFG Intime India Private Limited, confirms that share certificates received for dematerialization during the quarter ended June 30, 2026, were processed and cancelled within prescribed timelines. This is a standard administrative filing and has no impact on the company's financial performance, which includes a TTM revenue of Rs 96 Cr and a PAT of Rs 20 Cr.

Compliance certificate issued for the quarter ended June 30, 2026
Confirms dematerialization requests were processed within prescribed timelines
Issued by Registrar and Share Transfer Agent MUFG Intime India Private Limited
Confirms that security certificates were mutilated and cancelled after verification

💡 This is a procedural filing with no impact on business fundamentals. Investors should continue to monitor the company's project execution and quarterly earnings to track its TTM EPS of Rs 11.40.

Pansari Developers Announces Trading Window Closure from July 15, 2026

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 25 Jun 2026, 04:25 PM

Pansari Developers Limited has informed the exchange that its trading window will be closed starting July 15, 2026, for all designated insiders. This closure is in compliance with SEBI (Prohibition of Insider Trading) Regulations for the upcoming financial results. The window pertains to the un-audited standalone and consolidated financial results for the quarter ending June 30, 2026. The trading window will remain closed until 48 hours after the results are officially disseminated to the exchange.

Trading window closure scheduled to commence on July 15, 2026.
Closure is related to the un-audited financial results for the quarter ended June 30, 2026.
Window will reopen 48 hours after the announcement of standalone and consolidated results.
The specific date for the Board Meeting to approve results will be announced separately.

💡 This is a routine regulatory announcement with no direct impact on stock valuation. Investors should monitor for the upcoming board meeting date to assess the company's Q1 performance.

Pansari Developers Promoters Confirm No New Share Pledges for FY 2025-26

🟡 NEUTRAL ⭐ 3/10

REGULATORY 📅 19 Jun 2026, 04:24 PM

Pansari Developers Limited has submitted a disclosure under Regulation 31(4) of SEBI (SAST) Regulations for the financial year ended March 31, 2026. The promoter group, led by Mahesh Kumar Agarwal, declared that no additional encumbrances or pledges were placed on their shares during the period. The filing lists 17 promoter group members and Persons Acting in Concert (PAC), with Mahesh Agarwal HUF holding the highest stake of 1,936,200 shares. This annual declaration is a routine compliance measure to ensure transparency regarding promoter shareholding stability.

Promoters declared zero new encumbrances or pledges for the financial year ending March 31, 2026.
Mahesh Agarwal HUF holds the largest portion among promoters with 1,936,200 shares.
Significant holdings reported for Dinesh Agarwal (1,330,200 shares) and Kishore Kumar Agarwal (1,200,000 shares).
A total of 17 promoter group entities and PACs are included in the disclosure.
Compliance filed under Regulation 31(4) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011.

💡 No immediate action is required as this is a routine regulatory filing. It confirms that promoters have not increased the pledging of their shares, which is generally a sign of financial stability within the promoter group.

Pansari Developers FY26 Results: ₹11.15 Cr Profit from Property Sale; ₹2.10 Cr Inventory Write-off

🔵 WATCH ⭐ 7/10

EARNINGS 📅 29 May 2026, 07:34 PM

Pansari Developers Limited reported its FY26 results, which were significantly impacted by a one-time profit of ₹1,115.59 lakhs from the sale of investment property. Conversely, the company wrote off inventory worth ₹210 lakhs due to the abandonment of certain real estate projects. On the management front, Ms. Bipasha Banerjee has been appointed as the new Company Secretary and Compliance Officer, effective June 1, 2026, following the resignation of Ms. Rajshree Somani.

Reported a significant one-time gain of ₹1,115.59 lakhs from the sale of investment property.
Recognized an inventory write-off of ₹210 lakhs for discontinued or abandoned real estate projects.
Auditors issued an 'Emphasis of Matter' regarding these significant financial impacts on the year's performance.
Appointed Ms. Bipasha Banerjee as Company Secretary & Compliance Officer effective June 1, 2026.
The Board approved both standalone and consolidated audited financial results for the year ended March 31, 2026.

💡 Investors should discount the one-time profit from property sales when evaluating core operational performance and investigate the reasons behind the ₹2.10 crore project abandonments. Monitor the company's project pipeline for future revenue stability.

Pansari Developers Fined ₹7,080 by NSE for Delayed Corporate Governance Filing

🟡 NEUTRAL ⭐ 3/10

REGULATORY 📅 28 May 2026, 03:26 PM

Pansari Developers Limited has been penalized by the National Stock Exchange (NSE) for non-compliance with SEBI (LODR) Regulations, 2015. The penalty, amounting to ₹7,080 inclusive of GST, was levied due to a delay in filing the Corporate Governance Report for the quarter ended March 31, 2026. The company received the notice from the exchange on May 27, 2026. While the financial impact is negligible, it represents a procedural lapse in regulatory reporting timelines.

NSE imposed a Standard Operating Procedure (SOP) fine of ₹7,080 including GST.
The fine pertains to a violation of Regulation 27(2) regarding timely Corporate Governance Report filing.
The delay concerns the reporting period for the quarter ended March 31, 2026.
The company received the formal notice from the exchange on May 27, 2026.
Financial impact is strictly limited to the amount of the fine levied.

💡 No immediate action is required as the fine is immaterial to the company's financials; however, investors should monitor if such compliance delays become a recurring pattern.

Pansari Developers Fined ₹3,540 by NSE for Delayed Regulatory Filing

🟡 NEUTRAL ⭐ 3/10

REGULATORY 📅 21 May 2026, 02:08 PM

Pansari Developers Limited has been penalized by the National Stock Exchange (NSE) for a delay in regulatory compliance. The exchange levied a Standard Operating Procedure (SOP) fine of ₹3,540, including GST, for the quarter ended March 31, 2026. The penalty was triggered by a delay in filing the Statement of Investor Complaints under Regulation 13(3) of SEBI (LODR) Regulations, 2015. While the financial impact is negligible, it highlights a minor administrative lapse in the company's reporting process.

NSE imposed a fine of ₹3,540 (inclusive of GST) on Pansari Developers.
The fine pertains to non-compliance with Regulation 13(3) of SEBI (LODR) Regulations, 2015.
The violation was a delay in filing the Statement of Investor Complaints for the quarter ended March 31, 2026.
The company received the formal notice from the exchange on May 20, 2026.

💡 No action is required as the fine amount is immaterial to the company's financial health. Investors should simply note this as a minor administrative oversight.

Pansari Developers Submits SEBI Reg 74(5) Compliance Certificate for Q4 FY26

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 20 May 2026, 12:37 PM

Pansari Developers Limited has filed its quarterly compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018. The report, issued by MUFG Intime India Private Limited, confirms that all dematerialization requests for the quarter ended March 31, 2026, were processed within the prescribed timelines. The certificate verifies that physical share certificates were mutilated and cancelled after verification. This is a standard administrative filing required for all listed entities in India to ensure the integrity of electronic shareholding records.

Compliance certificate submitted for the quarter ended March 31, 2026
Registrar and Share Transfer Agent (RTA) confirmed as MUFG Intime India Private Limited
Verification that security certificates received for dematerialization were mutilated and cancelled
Confirmation that depository names were substituted in the register of members within timelines

💡 No action is required as this is a routine regulatory filing. Investors should monitor the company's upcoming financial results for more significant performance indicators.

Pansari Developers Fined Rs 25,960 by NSE for Delayed Shareholding Pattern Filing

🟡 NEUTRAL ⭐ 3/10

REGULATORY 📅 15 May 2026, 04:54 PM

Pansari Developers Limited has been penalized by the National Stock Exchange (NSE) for a compliance lapse regarding timely disclosures. The exchange levied a Standard Operating Procedure (SOP) fine of Rs 25,960, including GST, due to a delay in filing the Share Holding Pattern for the quarter ended March 31, 2026. The company received the notice on May 14, 2026, and has acknowledged the financial impact is limited to the fine amount. While the penalty is small, it indicates a minor administrative oversight in meeting SEBI (LODR) Regulation 31 requirements.

NSE imposed an SOP fine of Rs 25,960 (inclusive of GST) on the company.
The fine was triggered by a delay in filing the Share Holding Pattern for the quarter ended March 31, 2026.
The action was taken under Regulation 31 of SEBI (LODR) Regulations, 2015.
The company received the formal notice from the exchange on May 14, 2026.

💡 This is a minor regulatory matter with negligible financial impact; investors should not change their investment thesis based on this event but may monitor for future compliance consistency.

Pansari Developers Announces Trading Window Closure for Q4 FY24 Results

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 24 Mar 2026, 03:14 PM

Pansari Developers Limited has notified the exchange that its trading window for dealing in company securities will be closed starting April 1, 2024. This action is taken in compliance with SEBI (Prohibition of Insider Trading) Regulations, 2015, ahead of the upcoming financial results. The window will remain closed for all designated persons and their immediate relatives until 48 hours after the audited financial results for the quarter and year ending March 31, 2024, are made public. This is a standard regulatory procedure for listed companies in India.

Trading window closure effective from April 1, 2024
Closure is in accordance with SEBI (Prohibition of Insider Trading) Regulations, 2015
Window to reopen 48 hours after the declaration of audited FY24 financial results
Applies to all designated persons and their immediate relatives

💡 This is a routine regulatory announcement with no impact on company fundamentals. Investors should wait for the upcoming earnings release to assess the company's financial performance.

Pansari Developers Q3 Standalone Net Profit Rises 33% YoY to ₹28.53 Lakhs

🟢 POSITIVE ⭐ 7/10

EARNINGS 📅 17 Feb 2026, 01:36 PM

Pansari Developers reported a strong performance for the quarter ended December 31, 2025, with standalone total income reaching ₹589.59 Lakhs, a 125% increase from ₹261.21 Lakhs in the previous year. Standalone net profit grew to ₹28.53 Lakhs compared to ₹21.41 Lakhs in the same quarter last year. Revenue from operations saw a significant sequential jump to ₹275.68 Lakhs from just ₹12.85 Lakhs in the preceding quarter. The company's auditors provided an unmodified opinion on both standalone and consolidated results.

Standalone Total Income surged 125% YoY to ₹589.59 Lakhs in Q3 FY26.
Standalone Net Profit increased by 33.2% YoY to ₹28.53 Lakhs.
Revenue from operations grew to ₹275.68 Lakhs in Q3 FY26 from ₹12.85 Lakhs in Q2 FY26.
Quarterly Earnings Per Share (EPS) stood at ₹0.16.
Consolidated results included a share of net profit of ₹14.99 Lakhs from jointly controlled entities.

💡 The significant sequential recovery in revenue and steady year-on-year profit growth are positive indicators for this micro-cap real estate player. Investors should monitor the company's project completion timelines and the impact of the new labour codes as highlighted in the auditor's notes.

View All PANSARI Announcements on Live Market Tracking →

💰 Financial Performance

Revenue Growth by Segment

Standalone total income decreased by 29.94% YoY to INR 41.05 Cr (from INR 58.59 Cr). Consolidated total income decreased by 27.29% YoY to INR 44.84 Cr (from INR 61.68 Cr). Specific segment-wise percentage splits for Fabrics or Trading were not provided for the current period.

Geographic Revenue Split

100% of operations and revenue are concentrated in India, specifically focused on the Eastern real estate corridor and Kolkata region.

Profitability Margins

Net Profit Margin improved by 110% YoY, rising from 0.10% to 0.21% according to management ratios, though absolute standalone net profit of INR 7.50 Cr on INR 41.05 Cr revenue suggests an operational net margin of approximately 18.27%.

EBITDA Margin

Profit before depreciation and tax stood at INR 13.14 Cr (Standalone) and INR 13.21 Cr (Consolidated). Standalone EBITDA margin is approximately 32.01% of total income.

Capital Expenditure

Not explicitly disclosed in absolute INR Cr for future periods; however, the company maintains a robust pipeline of residential and commercial projects in Kolkata.

Credit Rating & Borrowing

Debt Equity Ratio increased by 8.00% YoY to 0.54 (from 0.50), indicating a slight increase in leverage to fund ongoing project developments.

⚙️ Operational Drivers

Raw Materials

Construction materials including steel, cement, and bricks; specific percentage of total cost for each is not disclosed.

Import Sources

Sourced domestically within India, primarily from vendors serving the West Bengal and Eastern Indian construction markets.

Capacity Expansion

Current focus is on 'Purti' branded developments; expansion is tied to the pipeline of residential and commercial projects in the Eastern real estate corridor.

Raw Material Costs

Management identified material cost volatility as a key external risk; however, specific YoY cost change percentages were not provided.

Manufacturing Efficiency

Not applicable as a developer; however, the company employs 250 personnel to manage project execution and sales.

📈 Strategic Growth

Growth Strategy

The company aims to achieve growth by leveraging the 'Purti' brand, focusing on integrated residential townships, mid-segment housing, and commercial real estate in the Eastern real estate corridor. Strategy includes maintaining operational agility to navigate regulatory reforms like RERA and GST.

Products & Services

Integrated residential townships, mid-segment housing units, and commercial real estate spaces.

Brand Portfolio

Purti

New Products/Services

New residential and commercial projects under the 'Purti' brand in Kolkata and surrounding areas.

Market Expansion

Targeting the Eastern real estate corridor with a focus on rising demand for integrated townships.

🌍 External Factors

Industry Trends

The real estate sector is seeing a shift toward organized developers and formalization due to RERA. Demand is rising for integrated townships and mid-segment housing in the Eastern region.

Competitive Landscape

Competes with other organized and unorganized developers in the West Bengal residential and commercial segments.

Competitive Moat

Brand equity through the 'Purti' name and localized expertise in the Kolkata real estate market serve as primary competitive advantages.

Macro Economic Sensitivity

Highly sensitive to interest rate cycles affecting home loans and regulatory transparency improvements from RERA/GST.

Consumer Behavior

Shift toward greater confidence in organized developers and demand for integrated living spaces.

Geopolitical Risks

Minimal direct impact due to localized real estate operations in Eastern India.

⚖️ Regulatory & Governance

Industry Regulations

Compliance with RERA (Real Estate Regulatory Authority) and GST framework is mandatory for all project developments and sales.

Taxation Policy Impact

Standalone tax expense for FY 2024-25 was INR 2.47 Cr on a profit before tax of INR 9.97 Cr, representing an effective tax rate of approximately 24.77%.