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HomeIPOPranav Constructions
Pranav Constructions

Pranav Constructions

Open Date

Sep 7, 2026

Close Date

Sep 9, 2026

listed

Min Investment

₹14,880

Lot Size

120 Shares

Issue Size

₹351.03 Cr

Price Range

₹118 - ₹118

Listing Date

Sep 15, 2026

IPO Doc

RHP PDF

About Pranav Constructions

It was incorporated in the year 2003 as an Indian construction company, Pranav Constructions Limited, into residential, commercial, and infrastructure development projects. Key Services: Residential Projects: Affordable housing, premium apartments, and gated communities. Commercial Projects: Construction of offices, retail centers, and mixed-use projects. Infrastructure Development: Engaged in road construction, bridges, water supply projects, and other works of public infrastructure. Redevelopment Expertise: The company has in-house capabilities to manage the entire redevelopment process, including: Tendering Stage -Bidding for projects. Pre-Construction Stage – Planning and approvals. Construction Stage: The stage at which a project is executed. Post-construction stage - Final handover and manageme

Checklist Quality Analysis

Revenue Growth

Company Valuation

Earning Expansion

The investment checklist helps you understand a company's financial health at a glance and identify quality investment opportunities easily.

₹47(+38.00%)GMP
37.9%Prediction Listing Gain

Grey Market Premium (GMP) Trend

Pranav Constructions IPO - Issue Objectives

The company will use ₹145.71 crore for funding towards project-related redevelopment costs. The company will utilise ₹91.50 crore for partial or full repayment of the borrowings. Up to 35% of proceeds for future projects, corporate purposes & expenses.

Redevelopment expenditure

46.1%

Repayment of loan

28.9%

General corporate purposes

24.8%

1

Redevelopment expenditure

The company will use ₹145.71 crore for funding towards project-related redevelopment costs.

46.10%
2

Repayment of loan

The company will utilise ₹91.50 crore for partial or full repayment of the borrowings.

28.90%
3

General corporate purposes

Up to 35% of proceeds for future projects, corporate purposes & expenses.

24.80%

IPO Subscription Status

QIB
268.54x
NII
217.73x
Individual
45.31x
Total
126.34x

Times subscribed by category (bars capped at 10x for readability). Dashed line marks 1.0x (fully subscribed).

Financials of Pranav Constructions

In Cr.

Key Performance Indicator31-Mar-24 (In Cr.)31-Mar-23 (In Cr.)31-Mar-22 (In Cr.)
Revenue
EBITDA
Expenses
Profit After Tax
Assets
Net Worth
Reserves
Borrowing

Pranav Constructions - Promoter(s)

Pranav Constructions

Pre Issue Share Holding

N/A

Post Issue Share Holding

N/A

About Strength & Risks

Why this IPO looks interesting

Key positives investors may want to consider before applying.

01

Market leadership in western suburbs

The firm leads the western suburbs redevelopment market with 34 MCGM projects (1,864 units) – nearly 3x higher than competitors who have only 4-11 projects per unit. The firm controls 30% of units of the top 5 developers in the Western Suburbs, with a 65-project footprint consisting of completed, ongoing, and upcoming phases.

02

Integrated execution expertise

Internal expertise in tendering, construction, and sales departments has made an average 26-month duration for project cycles from inception to occupation certificate with no single RERA extension filed till March 2026.

03

Capital-efficient business model

Collaboration with the Co-operative Housing Societies and not direct acquisition of land means that the firm is using initial capital at an average of just 9.0%-13.4% of the total sales value of the recent projects. The relatively low capital investment allows for the concurrent operation of different projects, along with regulatory and performance criteria that act as a natural barrier against new competitors.

04

Experienced promoters and management

Promoters Pranav Kiran Ashar (22 years) and Ravi Ramalingam (17+ years) head the company along with its professional management team, which includes functions of operations, legal and sales. The workforce increased to 198 during FY26, while the attrition rate declined significantly from 24.87% in FY24 to 13.54% in FY26.

What investors should watch closely

Risk factors and possible pressure points around the offer.

01

Geographic concentration

99.7% of FY26’s revenue depends on MCGM only, leaving the company exposed to hyperlocal regulatory, demand and disaster risks without any diversification benefit.

02

Execution risk

With 37 projects in progress/future and an average project cycle of 26 months, litigation-ridden projects such as Nirmal Bhavan and Rajnigandha CHSL are actual examples of timelines and penalties being exposed to risk.

03

Risk of inventory and affordability

The risk of increasing cost of properties may affect demand in the lower-end segments (economic/mid-mass) of the company, with the unsold inventory being up to 81.8% in some under-construction projects.

04

Risk of vendor concentration

No binding contracts with suppliers coupled with reliance on top-10 suppliers/contractors of 61.7% and 47.1% of FY26 costs, respectively.

05

Increasing leverage

Total borrowings increased by 2.6 times from ₹99.34 crore in FY24 to ₹258.44 crore in FY26 with promoter-led unsecured borrowing.

Contact Details

Pranav Constructions

Unit No. 1001, 10th Floor, DLH Park, Near MTNL, S.V. Road, Goregaon (West), Mumbai, Maharashtra, 400104

+912262769939
compliance.officer@pranavconstructions.com
http://www.pranavconstructions.com/

Registrar Contact Details

Kfin Technologies Ltd.

04067162222
pcpl.ipo@kfintech.com
https://ipostatus.kfintech.com/

Pranav Constructions IPO - FAQs

Pranav Constructions IPO is a Mainboard IPO. The issue is priced at 118-₹124. The minimum order quantity is 120 Shares. The IPO opens on 7 Sep, and closes on 9 Sep. Kfin Technologies Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.

IPO Timeline

  • Pre Apply2026-09-04
  • Bidding Starts2026-09-07
  • Bidding Ends2026-09-09
  • Allotment Finalisation2026-09-10
  • Release of Funds2026-09-11
  • Demat Transfer2026-09-11
  • Listing2026-09-15

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