Veegaland Developers Ltd
Incorporated in 2007, Veegaland Developers Limited is engaged in real estate development, focusing on residential, commercial, and mixed-use projects.[1]
- Market Cap ₹ 646 Cr.
- Current Price ₹ 133
- High / Low ₹ 154 / 124
- Stock P/E 19.5
- Book Value ₹
- Dividend Yield 0.00 %
- ROCE 14.1 %
- ROE 16.0 %
- Face Value ₹ 10.0
Pros
- Company has reduced debt.
Cons
- Company might be capitalizing the interest cost
- Debtor days have increased from 50.8 to 65.7 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.
Peer comparison
Consumer Discretionary Realty Realty Residential, Commercial Projects
Quarterly Results
Figures in Rs. Crores
Profit & Loss
Figures in Rs. Crores
| Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|
| 109 | 111 | 192 | 251 | |
| Sales growth | +2% | +74% | +30% | |
| 86 | 98 | 162 | 212 | |
| Operating Profit | 23 | 13 | 30 | 39 |
| OPM % | 21% | 12% | 16% | 16% |
| 1 | 4 | 4 | 3 | |
| Interest | 4 | 5 | 5 | 6 |
| Depreciation | 0 | 0 | 0 | 1 |
| Profit before tax | 19 | 11 | 28 | 36 |
| Tax % | 25% | 30% | 28% | 26% |
| 15 | 8 | 20 | 27 | |
| EPS in Rs | 5.81 | 3.15 | 8.17 | 7.88 |
| Dividend Payout % | 0% | 0% | 0% | 0% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 32% |
| TTM: | 30% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 22% |
| TTM: | 30% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | % |
| 1 Year: | % |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 21% |
| Last Year: | 16% |
Balance Sheet
Figures in Rs. Crores
| Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|
| Equity Capital | 5 | 5 | 5 | 34 |
| Reserves | 32 | 40 | 60 | 233 |
| 122 | 120 | 177 | 86 | |
| 37 | 56 | 84 | 131 | |
| Total Liabilities | 196 | 221 | 327 | 484 |
| 2 | 2 | 3 | 23 | |
| CWIP | 0 | 0 | 0 | 0 |
| Investments | 0 | 0 | 0 | 0 |
| 194 | 219 | 324 | 461 | |
| Total Assets | 196 | 221 | 327 | 484 |
Cash Flows
Figures in Rs. Crores
| Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|
| 42 | 9 | -44 | -74 | |
| 1 | 2 | -0 | -20 | |
| -19 | -7 | 52 | 78 | |
| Net Cash Flow | 24 | 4 | 7 | -16 |
| Free Cash Flow | 42 | 8 | -45 | -95 |
| CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit | 197% | 97% | -143% | -149% |
Ratios
| Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|
| Debtor Days | 21 | 35 | 52 | 66 |
| Inventory Days | ||||
| Days Payable | ||||
| Cash Conversion Cycle | 21 | 35 | 52 | 66 |
| Working Capital Days | 103 | 339 | 242 | 284 |
| ROCE % | 10% | 16% | 14% |
Documents
Announcements
-
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
- Earnings conference call on Q2 and H1 FY2027 results scheduled for November 9, 2026 at 11:00 AM.
-
Change In Corporate Identification Number
- Veegaland Developers updated CIN to listed status effective October 30, 2026.
-
Board Meeting Intimation for Approval Of Unaudited Standalone Financial Results For The Quarter And Half Year Ended September 30, 2026.
- Board meeting on November 5, 2026 to approve Q2 and half-year FY2026 unaudited results; trading window remains closed.
-
Launch Of Residential Project "Veegaland Fortune"
- Veegaland Fortune residential project launched in Kochi; 1,78,905 sq. ft. saleable area added.
-
Announcement under Regulation 30 (LODR)-Credit Rating
- ICRA assigned BBB+(Stable) rating to Veegaland’s Rs 500 crore bank facilities.
Concalls
-
Oct 2026PPT
Business Overview:[1][2]
Veegaland Developers is a Kerala-focused residential real estate developer operating
under the Veegaland Homes brand. The company plans, develops, markets, and
sells multi-storied residential apartments
across Kochi, Thiruvananthapuram, Kozhikode, and Thrissur. Its portfolio spans mid-premium, premium, ultra-premium, Luxe, and ultra-luxury housing segments, with no commercial real estate component.
The company entered real estate development in 2011 with its first project, Green Clouds in Kochi. Since then, it has expanded across multiple Kerala markets and built a portfolio covering different price points and customer segments.