Ganesh Housing Ltd
Incorporated in 1991, Ganesh Housing Corporation Ltd is in the business of real estate development in residential and commercial segment and infrastructure projects[1]
- Market Cap ₹ 4,554 Cr.
- Current Price ₹ 546
- High / Low ₹ 1,200 / 500
- Stock P/E 95.4
- Book Value ₹ 181
- Dividend Yield 0.92 %
- ROCE 37.4 %
- ROE 28.0 %
- Face Value ₹ 10.0
Pros
- Company is almost debt free.
- Company has delivered good profit growth of 51.6% CAGR over last 5 years
- Company has been maintaining a healthy dividend payout of 22.2%
Cons
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
Consumer Discretionary Realty Realty Residential, Commercial Projects
Part of BSE Allcap BSE Consumer Discretionary
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 177 | 184 | 197 | 177 | 207 | 95 | 1 | 4 | 124 | 251 | 594 | 675 | 147 | |
| 70 | 90 | 87 | 64 | 80 | 26 | 25 | 14 | 97 | 95 | 224 | 159 | 74 | |
| Operating Profit | 107 | 93 | 110 | 112 | 128 | 68 | -24 | -10 | 27 | 156 | 370 | 516 | 73 |
| OPM % | 60% | 51% | 56% | 64% | 62% | 72% | -1,828% | -252% | 22% | 62% | 62% | 76% | 50% |
| 4 | 3 | 1 | 2 | -1 | 5 | 2 | 10 | 1 | 1 | 2 | 2 | 1 | |
| Interest | 54 | 53 | 53 | 52 | 57 | 53 | 47 | 44 | 25 | 8 | 1 | 1 | 1 |
| Depreciation | 2 | 3 | 3 | 3 | 3 | 2 | 2 | 2 | 2 | 3 | 6 | 7 | 7 |
| Profit before tax | 55 | 40 | 56 | 59 | 67 | 19 | -71 | -46 | 0 | 147 | 364 | 510 | 66 |
| Tax % | 24% | 21% | 28% | 36% | 42% | 40% | -11% | 2% | 89% | 37% | 26% | 25% | |
| 42 | 32 | 40 | 38 | 39 | 11 | -63 | -47 | 0 | 92 | 271 | 380 | 48 | |
| EPS in Rs | 8.49 | 6.47 | 8.21 | 7.79 | 7.94 | 2.27 | -12.85 | -9.53 | 0.00 | 11.03 | 32.49 | 45.62 | 5.72 |
| Dividend Payout % | 20% | 27% | 16% | 26% | 23% | 22% | 0% | 0% | 0% | 22% | 34% | 11% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | 14% |
| 5 Years: | 249% |
| 3 Years: | 76% |
| TTM: | -84% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | 28% |
| 5 Years: | 52% |
| 3 Years: | 2019% |
| TTM: | -90% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | 23% |
| 5 Years: | 56% |
| 3 Years: | 25% |
| 1 Year: | -49% |
| Return on Equity | |
|---|---|
| 10 Years: | 9% |
| 5 Years: | 14% |
| 3 Years: | 22% |
| Last Year: | 28% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 33 | 33 | 33 | 49 | 49 | 49 | 49 | 49 | 83 | 83 | 83 | 83 | 83 |
| Reserves | 616 | 638 | 679 | 688 | 718 | 718 | 652 | 605 | 788 | 880 | 1,131 | 1,420 | 1,425 |
| 301 | 283 | 291 | 357 | 429 | 378 | 322 | 282 | 99 | 4 | 8 | 7 | 55 | |
| 79 | 80 | 90 | 91 | 76 | 54 | 55 | 45 | 125 | 207 | 185 | 175 | 217 | |
| Total Liabilities | 1,028 | 1,033 | 1,092 | 1,186 | 1,272 | 1,199 | 1,078 | 981 | 1,096 | 1,174 | 1,408 | 1,685 | 1,780 |
| 54 | 212 | 212 | 210 | 208 | 208 | 206 | 191 | 192 | 192 | 214 | 212 | 211 | |
| CWIP | 0 | 0 | 2 | 0 | 0 | 0 | 2 | 0 | 0 | 21 | 148 | 360 | 448 |
| Investments | 193 | 193 | 193 | 205 | 203 | 205 | 205 | 228 | 227 | 298 | 525 | 525 | 525 |
| 782 | 628 | 685 | 770 | 860 | 786 | 664 | 562 | 677 | 663 | 521 | 589 | 596 | |
| Total Assets | 1,028 | 1,033 | 1,092 | 1,186 | 1,272 | 1,199 | 1,078 | 981 | 1,096 | 1,174 | 1,408 | 1,685 | 1,780 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 152 | 51 | 140 | 194 | -42 | 56 | 49 | -12 | -150 | 169 | 301 | 317 | |
| -66 | 8 | -119 | -130 | -40 | 77 | 74 | 68 | 137 | 136 | -391 | -260 | |
| -98 | -46 | -10 | -65 | 79 | -136 | -135 | -58 | 9 | -103 | -17 | -94 | |
| Net Cash Flow | -12 | 12 | 11 | -1 | -2 | -3 | -13 | -2 | -4 | 201 | -107 | -37 |
| Free Cash Flow | 157 | -111 | 135 | 194 | -42 | 54 | 46 | 4 | -153 | 145 | 146 | 100 |
| CFO/OP | 156% | 66% | 104% | 176% | -12% | 123% | -232% | 115% | -547% | 110% | 98% | 70% |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 381 | 353 | 183 | 123 | 214 | 480 | 23,276 | 0 | 337 | 130 | 64 | 82 |
| Inventory Days | 73 | 1,122 | ||||||||||
| Days Payable | 251 | 98 | ||||||||||
| Cash Conversion Cycle | 381 | 353 | 183 | 123 | 36 | 480 | 23,276 | 0 | 337 | 130 | 1,087 | 82 |
| Working Capital Days | 55 | 665 | 828 | 914 | 1,076 | 2,217 | 111,078 | 24,125 | 1,425 | 365 | 143 | 186 |
| ROCE % | 11% | 10% | 11% | 11% | 11% | 6% | -2% | -0% | 3% | 16% | 33% | 37% |
Insights
In beta| Mar 2009 | Mar 2013 | Mar 2016 | Mar 2018 | Mar 2019 | Mar 2022 | Mar 2023 | Mar 2024 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|
| Cumulative Delivered Area Million Sq. Ft. |
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| Total Land Reserves Acres |
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| Future Development Potential Million Sq. Ft. |
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| Million Minds IT SEZ Phase 1 Leasable Area Million Sq. Ft. |
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| Godhavi Township Phase 1 Monetization Progress Acres |
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| Malabar Retreat Construction Progress % |
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| Million Minds IT SEZ Phase 1 LOI/Lease Status % |
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| Project Bookings - Malabar County III Units |
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| Project Bookings - Malabar Exotica Units |
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Documents
Announcements
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Closure of Trading Window
25 Mar - Trading window closed Apr 1, 2026 until 48 hours after audited results for quarter and year ended Mar 31, 2026.
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Announcement under Regulation 30 (LODR)-Newspaper Publication
18 Feb - Publication of Newspaper Advertisements - Special Window for transfer and dematerialisation of physical equity shares
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Announcement under Regulation 30 (LODR)-Earnings Call Transcript
12 Feb - Transcript of Q3 FY26 Earnings Conference Call dated February 09, 2026
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
9 Feb - Audio recording of Q3 FY26 earnings call for quarter and nine months ended December 31, 2025.
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Announcement under Regulation 30 (LODR)-Newspaper Publication
7 Feb - Publication of Newspaper Advertisements - Unaudited Financial Results for the quarter and nine months ended December 31, 2025
Annual reports
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Financial Year 2025
from bse
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Financial Year 2024
from bse
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Financial Year 2023
from bse
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Financial Year 2022
from bse
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Financial Year 2021
from bse
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Financial Year 2020
from bse
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Financial Year 2019
from bse
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Financial Year 2018
from bse
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Financial Year 2017
from bse
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Financial Year 2016
from bse
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Financial Year 2015
from bse
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Financial Year 2014
from bse
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Financial Year 2013
from bse
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Financial Year 2012
from bse
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Financial Year 2011
from nse
Concalls
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Feb 2026Transcript PPT REC
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Nov 2025Transcript PPT REC
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Jul 2025Transcript PPT
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May 2025Transcript PPT REC
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Jan 2025Transcript PPT REC
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Oct 2024Transcript PPT REC
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Oct 2024TranscriptAI SummaryPPT
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Jul 2024Transcript PPT REC
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May 2024Transcript PPT REC
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Jan 2024Transcript PPT REC
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Oct 2023Transcript PPT
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Jul 2023Transcript PPT
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May 2023Transcript PPT
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Jan 2023Transcript PPT
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Oct 2022Transcript PPT
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Jul 2022Transcript PPT
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May 2022Transcript PPT
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Jan 2022TranscriptPPT
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Aug 2018TranscriptAI SummaryPPT
Business Overview:[1][2]
GHCL is a Gujarat based real estate developers certified by ISO 9001-2008, ISO 14001:2004 & OHSAS 18001:2007, ISO 9001:2000 and endorsed by KPMG, USA. It deals in organized housing and construction and has sold 22+ mn Sqft of real estate space, with another 35 million Sqft under development. Additionaly, company aims to extend its presence into Special Economic Zone and township format development