Cumulative Capital Pvt. Ltd.
Company Profile
Founded in 2007, Veegaland Developers Limited is a real estate firm specializing in residential, commercial, and mixed-use developments. The company manages the entire lifecycle of its properties, handling everything from initial planning and design to construction and execution. Known for its emphasis on quality craftsmanship and timely project completion, it creates modern, sustainable spaces tailored to a wide range of customers.
Over the years, the business has built a balanced portfolio comprising completed, ongoing, and upcoming developments. By mid-2026, the company successfully delivered 10 residential projects covering over 1.1 million square feet of saleable space, which includes nearly 700 individual units. Driven by efficient building practices and strong regulatory compliance, the company continues to expand its footprint with multiple active and future ventures.
Their business projects can be classified into the following categories based on the nature and description of each project:
Completed Projects: 10 Completed Projects
Ongoing Projects: 12 Ongoing Projects
Upcoming Projects: 3 Upcoming
For the year/period ended (Rs. in Cr.)
| FY26 | FY25 | FY24 | |
|---|---|---|---|
| Total Revenue | 254.16 | 196.22 | 114.61 |
| Profit After Tax | 26.61 | 20.43 | 7.87 |
| EPS | 8.77 | 8.17 | 3.15 |
| EBITDA Margin (%) | 16.78 | 17.21 | 14.59 |
| PAT Margin (%) | 10.47 | 10.41 | 6.87 |
For year/ period ended ( in Cr.)
| Company Name | Market Cap (Cr.) | Price | P/BV | P/E | Sales (Cr.) FY26 |
Net Profits(Cr.) FY26 |
|---|---|---|---|---|---|---|
| Veegaland Developers Limited | 682.50* | 140 | 1.77 | 25.64 | 254.16 | 26.61 |
| Shriram Properties Ltd | 1292 | 75.7 | 0.88 | 14.2 | 1267 | 101 |
| Puravankara Limited | 4998 | 211 | 2.80 | 31.2 | 3740 | 57 |
*Market cap @upper band
The Company VEEGALAND DEVELOPERS LIMITED IPO proposes to utilise the Net Proceeds from the Issue towards the following objects:
• Funding a part of the expense to be incurred in the development of the Ongoing Projects and Upcoming Projects (Rs. 119.83 Cr.)
• Funding unidentified acquisition of land and general corporate purposes
At the upper band of IPO Rs. 140, the stock is valued at 25.64 P/E multiple. Hence, well-informed investors subscribe for medium to long term perspective.