Pranav Constructions IPO Upcoming
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About Pranav Constructions
Pranav Constructions is a real estate development company primarily engaged in residential redevelopment projects in the Western Suburbs of Mumbai. Incorporated in 2003, the company has focused on transforming co-operative housing societies under the jurisdiction of the Municipal Corporation of Greater Mumbai (MCGM). With a capital-efficient model and in-house capabilities covering project management, design, and approvals, the company has executed multiple mid-sized projects and has a significant pipeline of under-construction and upcoming developments. The company operates out of its registered office in Goregaon West, Mumbai.
Financials of Pranav Constructions
*All figures are in ₹ Crores.
Issue size
| Funds Raised in the IPO | Amount |
| Overall | [.] shares (aggregating up to ₹[.] Cr) |
| Fresh Issue | ₹392 crores |
| Offer for sale | 28,56,869 shares of ₹10 (aggregating up to ₹[.] Cr) |
Utilisation of proceeds
| Purpose | INR crores (%) |
| Approvals and redevelopment projects | 223.7 (57.06%) |
| Repayment/prepayment of outstanding borrowings | 74 (18.88%) |
| Funding acquisition of future redevelopment projects and general corporate purposes | (not above 35% of the gross proceeds) |
Strengths
- Leading real estate player in Western Suburbs with growth.
- Strong project execution via in-house functional expertise.
- Capital-efficient model with high entry barriers.
- Customer-centric brand with strong stakeholder relationships.
- Consistent financials, experienced leadership, strong governance practices.
Risks
- Heavy reliance on Western Suburbs for project revenues.
- Delays in approvals can stall redevelopment project timelines.
- No fixed supplier agreements increase construction material risk.
- High dependency on pre-sales may impact working capital.
- Disputes with housing societies can terminate project contracts.