Ganesh Housing Ltd

Ganesh Housing Ltd

₹ 763 0.94%
12 Jun - close price
About

Incorporated in 1991, Ganesh Housing Corporation Ltd is in the business of real estate development in residential and commercial segment and infrastructure projects[1]

Key Points

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

  • Market Cap 6,360 Cr.
  • Current Price 763
  • High / Low 1,055 / 500
  • Stock P/E 20.1
  • Book Value 280
  • Dividend Yield 0.66 %
  • ROCE 18.8 %
  • ROE 15.2 %
  • Face Value 10.0

Pros

  • Company has delivered good profit growth of 38.0% CAGR over last 5 years
  • Company has a good return on equity (ROE) track record: 3 Years ROE 28.8%

Cons

  • Company has high debtors of 208 days.
  • Working capital days have increased from 592 days to 1,040 days

* 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.

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
179 270 163 181 277 214 237 257 251 151 174 91 95
78 54 42 45 128 65 35 46 35 23 26 16 23
Operating Profit 101 216 121 137 149 149 203 211 217 128 148 75 72
OPM % 56% 80% 74% 75% 54% 70% 85% 82% 86% 85% 85% 82% 75%
4 1 1 2 3 6 12 7 8 0 0 0 27
Interest 2 1 1 1 1 1 1 1 1 1 1 1 1
Depreciation 1 1 2 2 2 2 2 2 2 1 2 2 2
Profit before tax 102 215 120 136 149 153 212 215 221 126 145 73 96
Tax % 62% 25% 28% 26% 25% 25% 25% 25% 26% 26% 26% 26% 36%
39 161 86 101 113 114 158 161 165 93 108 54 61
EPS in Rs 5.58 19.35 10.31 12.06 13.53 13.65 19.01 19.29 19.78 11.16 12.96 6.44 7.36
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
250 321 401 499 258 267 168 383 616 891 959 511
119 117 195 304 188 320 216 248 364 267 180 89
Operating Profit 132 204 207 195 71 -53 -48 134 252 624 779 423
OPM % 53% 64% 51% 39% 27% -20% -29% 35% 41% 70% 81% 83%
7 2 6 8 6 2 10 1 4 6 34 27
Interest 64 100 93 101 92 80 75 36 13 4 4 4
Depreciation 4 4 4 3 2 2 2 2 3 7 7 7
Profit before tax 72 102 116 100 -17 -132 -114 97 240 620 802 439
Tax % 27% 31% 36% 49% -256% -10% -8% 27% 57% 26% 25% 28%
53 70 75 51 27 -120 -105 71 102 461 598 316
EPS in Rs 11.27 12.56 14.16 10.32 5.39 -24.30 -21.38 8.47 12.25 55.25 71.72 37.93
Dividend Payout % 15% 11% 14% 17% 9% 0% 0% 0% 20% 20% 7% 4%
Compounded Sales Growth
10 Years: 5%
5 Years: 25%
3 Years: -6%
TTM: -47%
Compounded Profit Growth
10 Years: 18%
5 Years: 38%
3 Years: 46%
TTM: -47%
Stock Price CAGR
10 Years: 25%
5 Years: 51%
3 Years: 28%
1 Year: -23%
Return on Equity
10 Years: 15%
5 Years: 25%
3 Years: 29%
Last Year: 15%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Equity Capital 33 33 49 49 49 49 49 83 83 83 83 83
Reserves 692 757 798 840 698 575 453 706 805 1,246 1,752 2,248
593 602 764 707 663 533 409 142 240 247 248 305
189 256 272 243 336 214 220 248 290 193 254 190
Total Liabilities 1,506 1,648 1,883 1,839 1,746 1,372 1,131 1,179 1,419 1,769 2,338 2,826
216 221 231 223 225 223 208 208 261 438 435 432
CWIP 0 2 0 0 0 2 0 0 21 148 360 540
Investments 0 0 0 0 0 0 0 0 0 0 0 0
1,291 1,425 1,652 1,616 1,521 1,146 923 972 1,136 1,183 1,543 1,854
Total Assets 1,506 1,648 1,883 1,839 1,746 1,372 1,131 1,179 1,419 1,769 2,338 2,826

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
-380 168 202 75 129 123 132 41 31 638 410 213
55 -86 -140 26 84 53 43 39 278 -489 -389 -543
338 -60 -57 -105 -216 -202 -173 -85 1 -244 -94 232
Net Cash Flow 14 22 5 -3 -3 -26 3 -5 310 -95 -73 -99
Free Cash Flow -540 162 202 78 128 120 148 38 3 486 193 30
CFO/OP -268% 76% 110% 45% 226% -245% -278% 33% 27% 123% 59% 73%

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Debtor Days 387 241 278 355 150 115 0 111 53 50 131 208
Inventory Days 1,013 3,409 710 812 2,220 4,614
Days Payable 81 157 46 22 96 359
Cash Conversion Cycle 387 241 278 1,287 3,402 780 790 111 53 2,174 131 4,463
Working Capital Days 1,083 964 917 834 1,390 988 711 325 342 307 429 1,040
ROCE % 10% 14% 13% 11% 5% -4% -4% 13% 23% 45% 44% 19%

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
Future Development Potential
Million Sq. Ft.
Million Minds IT SEZ Phase 1 Leasable Area
Million Sq. Ft.
Godhavi Township Phase 1 Monetization Progress
Acres
Malabar Retreat Construction Progress
%
Million Minds IT SEZ Phase 1 LOI/Lease Status
%
Project Bookings - Malabar County III
Units
Project Bookings - Malabar Exotica
Units

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
73.06% 73.06% 73.06% 73.06% 73.06% 73.06% 73.06% 73.06% 73.06% 73.06% 73.06% 73.06%
0.72% 0.92% 0.87% 0.89% 1.08% 0.97% 0.75% 0.95% 0.47% 0.43% 0.57% 0.70%
0.00% 0.05% 0.07% 0.04% 0.05% 0.06% 0.33% 0.13% 0.54% 0.44% 0.41% 0.32%
26.22% 25.96% 26.00% 26.02% 25.82% 25.91% 25.86% 25.84% 25.92% 26.06% 25.94% 25.92%
No. of Shareholders 12,76015,46415,34220,74424,60729,81033,61138,59840,14238,34336,99034,764

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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