Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 15 Sep - Newspaper Publication regarding special window for re-lodgment of transfer requests of physical shares.
Source: Bse
HB Estate Developers Limited (HBESD)
Small CapReal Estate stocks · Small cap · NSE
HB Estate Developers Limited operates in Real Estate Development, within the Real Estate sector. Use the latest filing and company disclosures below to verify its revenue mix and current business drivers.
Data qualityFresh enough for analysisQuote updated 19 Oct, 05:50 pm ISTDetails
Quote19 Oct, 05:50 pm IST
Base fundamentals06 Oct 2026 · screener
Latest result03 Aug, 07:30 pm IST
Score20 Oct, 04:30 am IST · v4.3-runtime-valuation
Tags04 Oct 2026
Coverage14/14 · 100%
Valuation2026-07-20 · Rf 6.8% · Real Estate P/E 22.2 (n=72)
Technical timing lens
Trend score and candlestick chart
49NeutralMACD + · sector -6.4pp vs Nifty 500 (3M)
Stock trend: 53
Sector RS: 44
Sector 3M: -12.0% vs Nifty 500 -5.6%
Real Estate FPI tailwindBuilding
Latest FPI flow is positive, but a second consecutive positive fortnight is still required. View sector evidence
Technical chart
HBESDD candles · FIT view+15.1%Latest close ₹76.31 on 2026-10-19
Daily history is available from 2026-04-20; the requested 1Y window is partially covered.
Bar
-4.6%
RSI
52
MACD hist
0.50
52W pos
45%
2026-10-19O ₹80.00H ₹80.00L ₹76.11C ₹76.31Vol 66 sh
Up bar
Down bar
EMA 20
EMA 50
Volume + 20D avg
Result date
RSI(14)
MACD / signal
Market context
Relative performance and chart statistics
Adjusted completed-session prices, rebased to 100
HBESDNifty RealtyNifty 500
- HBESD
- +1.7%
- Nifty 500
- -5.6%
- Nifty Realty
- -11.0%
- Vs Nifty 500
- +7.2 pp
Chart stats
19 Oct 2026- From 52W high
- -20.4%
- 52W range position
- 45%
- ATR (14)
- 7.3%
- Volume vs 20D
- 0.00x
- Avg traded value
- ₹0.1 Cr
- 20D price channel
- ₹60.3 - ₹91
₹95.9
₹60.3 - ₹95.9
₹5.6
Latest completed session
20-session average
92.6% annualized volatility
Research snapshot
What the evidence says now
Mixed fundamentals, management evidence is still limited to a financial-only Trust Lite signal, price trend is neutral, and recent execution is mixed.
Suggested next step
Research, do not rush
The evidence is not strongly aligned. Compare peers and wait for a cleaner setup.
U-Score
Legacy · FAIR VALUE54
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
Latest result
Good67
Revenue +16.8% · PAT +305.3% YoY
Technical
Neutral49
Price trend and sector-relative-strength timing.
Valuation
Legacy model+59.2%
Legacy margin-of-safety estimate; the revised evidence label remains in shadow validation.
Trust
Limited evidence61
Financial-only signal; management claim evidence is not sufficient yet.
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Latest result
Quarter ended 30 Jun 2026
Good · 67/100Rev +17% YoY · PAT +305% YoY · operating leverage · margin compression
Filed 03 Aug 2026
Open results browser →| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹27.8 Cr | +16.8% | -15.8% |
| EBITDA | ₹7.5 Cr | +13.9% | -31.4% |
| Operating margin | 26.9% | -68 bps | -609 bps |
| PAT | ₹1.5 Cr | +305.3% | -56.6% |
| PAT margin | 5.5% | +395 bps | -522 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Fundamentals
Valuation
- P/E
- 14.00
- P/B
- 0.93
- EV/EBITDA
- 8.74
- Market Cap
- 179.00Cr
Profitability
- ROE
- 6.37%
- ROCE
- 7.54%
- ROA
- 2.65%
- Dividend Y
- —
Growth (CAGR)
- Revenue 5Y
- 37.00%
- EPS 5Y
- 19.00%
- Revenue 3Y
- 7.00%
- EPS 3Y
- 44.00%
Balance Sheet
- Debt/Equity
- 1.34
- Interest Coverage
- 2.80×
- Altman Z
- 1.52
- Book Value
- 84.30
Cash Flow
- FCF Yield
- 24.58%
- FCF Positive Y
- 10/5
- OCF
- 45.00 Cr
- EPS TTM
- 5.62
Shareholding
- Promoter Hold
- 67.75%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 56%
Financial History
Updated 19/10/2026
Revenue
₹ CrLatest: 27.8-15.8% vs prev
Net Profit
₹ CrLatest: 1.5-56.6% vs prev
ROE is shown only in the Annual view — quarterly equity data isn't published.
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Daily technical trend read
NeutralTrend is undirectional — long-term trend unclear. RSI 52.
- SMA20 roughly flat — short-term momentum stalled.
- RSI(14) at 52 — falling, no extreme reading.
- MACD above signal but histogram contracting — bullish momentum cooling.
- 20% off 52W high · 27% above 52W low.
Mechanical read from the price + indicator series above. Not a recommendation — technical setups can reverse without warning, especially around earnings and macro events.
Nifty 500 leadership
Relative Strength & Trend Stage
65
RS percentile
Insufficient history
1M return
+3.7%
3M return
+1.7%
6M return
+1.2%
1Y return
-
RS 1D
-3
RS 20D
-
Sector rank
#18
Industry rank
#71
Stage evidence
- At least 170 daily sessions are required for the trend-stage read.
50-DMA
price above
200-DMA
unavailable
Sector
lagging
Industry
lagging
Partial-history RS: the 3M and 6M weights are re-normalised because 12M history is unavailable.
Relative-strength line vs Nifty 500 (base 100)
127 observations
19 Oct 2026Value 119.4-3.62%
RS vs Nifty 500119
Valuation & peers
U-Score 54 · legacy U-Score band FAIR VALUE · valuation evidence and comparable companies
Valuation & peers
U-Score 54 · legacy U-Score band FAIR VALUE · valuation evidence and comparable companies
Deep Value
Fundamental score breakdown
U band · FAIR VALUEValuation22/30
Growth23/25
Quality0/20
Balance Sheet4/15
Cash Flow10/10
Piotroski
6/9 (+3)
Penalties
-8
Raw sum
54
Why this score?
Top U-Score contributors and drags from the latest stored fundamentals.
54/100 · legacy band FAIR VALUE
Positive drivers
- FCF yield is supportive at 24.6%.
- Fair-value margin of safety is positive at 59.2%.
- Cash flow contributes 10/10 to the score.
Main drags
- Altman Z is 1.5, in distress territory.
- Penalty bucket subtracts 8 points.
- Quality is weaker at 0/20; verify the latest quarterly trend.
Sector valuation model
Real estate valuation: NAV, pre-sales, debt, and inventory quality
Real estate valuation depends more on project economics and balance sheet than simple PE.
Primary lens
NAV and market cap versus project pipeline and pre-sales.
Secondary checks
Inventory age, net debt, collections, execution record.
Main risk check
Book value can overstate value if inventory is slow or debt is high.
PE
14.0
PB
0.9
EV/EBITDA
8.7
ROE
6.4%
ROCE
7.5%
FCF Yield
24.6%
Debt/Equity
1.3
MoS
+59.2%
Score movement
Stored run vs live recompute
This shows the stored score trend when snapshots exist, and also compares the latest stored nightly score with a live recompute from current fundamentals and price.
Stored run: 20 Oct 2026
v4.3-runtime-valuation
Final score
54
Previous: 54
Legacy U-Score band
FAIR VALUE
Previous: FAIR VALUE
Margin of safety
+59.2%
Previous: +59.2%
Score history
12 stored score snapshots. Latest stored move: +0 points.
20 Oct 2026
v4.3-runtime-valuation
57
57
57
57
54
54
54
57
54
54
54
54
Factor attribution
No pillar movement versus the latest stored run. Historical score trend will appear after snapshot storage is enabled.
Modelled fair value
Graham Number
₹103.25
+26.1% MoS
Growth-justified P/E
33.3
Growth-justified Value
₹187.15
+59.2% MoS
PEG
0.48
Comparable companies
Peers
Business-comparable peers in Real Estate — ranked by industry, sub-sector, theme-tag overlap, market cap, and U-Score similarity. Green cells mark the best available peer metric in this table.
Ticker
Name
Why peer
Score
PE
ROE
MoS
Verdict
RUDRA
Small
Rudra Global Infra Products Limited
Real Estate
match 167
45
11.5
10.4%
+64%
WATCHLIST
MADHAVIPL
Small
Madhav Infra Projects Limited
Real Estate
match 166
66
7.5
10.7%
+78%
UNDERVALUED
TICL
Small
Twamev Construction and Infrastructure Limited
Real Estate
match 164
40
18.0
2.3%
+48%
WATCHLIST
SHRADHA
Small
Shradha Realty Limited
Real Estate
match 164
64
8.9
7.0%
+74%
UNDERVALUED
RUCHINFRA
Small
Ruchi Infrastructure Limited
Real Estate
match 164
48
19.0
1.6%
+32%
FAIR VALUE
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business and thesis
Issuer presentation review pending
HB Estate Developers Limited operates in Real Estate Development, within the Real Estate sector. Use the latest filing and company disclosures below to verify its revenue mix and current business drivers. The structured result feed currently covers the quarter ended 30 Jun 2026. Investor presentations and earnings-call PDFs will be added as issuer-backed evidence before management claims appear here.
Trust Score
61Limited evidence · low confidenceTrust Lite
Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.
Limited evidence: Claim history is still being built. It ranks around the 32nd percentile of the scored universe and 55th percentile within Real Estate. Main check: balance sheet trust is weak at 35/100.
This is a financial-behaviour screen, not a claim-tested management reliability verdict.
Computed 05 Sept 2026
management-trust-v1
10 docs text-extracted · 0 concalls text-extracted
Score band
Limited evidence
Financial behaviour is scored, but management claims do not yet have enough outcome checks.
Relative rank
32nd percentile
overall median 67 · Real Estate: 55th pctile, median 61 · Small: 36th pctile, median 66
Evidence depth
Financial-only
10 documents have extracted text, but claim history is not strong enough yet.
Claim delivery
Outcome history still building
0 claims extracted · No contradicted claim yet
How to read this Trust Score
Limited evidence · low confidenceWhat it measures
Reliability of management and financial delivery, using financial behaviour only.
Confidence
Treat this as an early read until more concalls and outcomes are matched.
Investor use
Acceptable, but check the weakest sub-score before increasing exposure.
Read Trust alongside U-Score, result consistency, and technical trend. A cheap stock with weak Trust needs a larger margin of safety; a high Trust score does not make an expensive stock attractive by itself.
Forensic breakdown
Read low sub-scores as due-diligence warnings, not automatic sell signals.
Promoter
78
strong · holding, pledge, alignment
Cash flow
89
strong · profit to cash conversion
Balance sheet
35
weak · leverage and solvency
Discipline
40
weak · capital discipline
Results
57
watch · quarterly consistency
Trust positives
- ▸Promoter holding is 67.8%.
- ▸Promoter pledge is zero.
- ▸FCF yield is 25.6%.
- ▸10 years of positive FCF.
Trust risks
- ▸Altman Z is 1.50.
- ▸Promoter holding fell 1.9%.
- ▸Debt/equity is 1.34.
- ▸ROCE is low at 7.5%.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Continue researching HB Estate Developers Limited
Important announcements & filings
Latest exchange and company disclosures found within the past two years.
Open source ↗
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 13 Aug - Newspaper publication of Post AGM Notice for FY 2025-26
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 11 Aug - Intimation regarding the newspaper advertisement regarding 32nd Annual General Meeting of the Company
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 4 Aug - Copy of Newspaper Publication of the extract of Un-audited financial statements (Standalone and Consolidated) of HB Estate Developer Limited for quarter and 3 months ended …
Source: Bse
Annual report
Annual Report 2026
Source: Bse
Annual report
Annual Report 2026 from bse
Source: Bse
Annual report
Annual Report 2025
Source: Bse
All information is for study purposes only. For investment decisions, consult your financial advisor. See Playbook for methodology.