Emami Realty Limited, incorporated on January 4, 2008, is headquartered in Kolkata, India. The company has undergone several name changes, starting as Slick Properties Pvt Ltd, then becoming Slick Properties Limited (2009), Emami Infrastructure Ltd, and finally Emami Realty Limited in October 2018. As part of the Emami Group, Emami Realty Ltd engages in the construction, development, and sale of real estate properties across residential, retail, and commercial sectors. The company has established a pan-India presence with over 3.7 crore square feet of development across West Bengal, Uttar Pradesh, Tamil Nadu, Andhra Pradesh, Odisha, Maharashtra, and Sri Lanka, executed through various Special Purpose Vehicles and Joint Ventures.
Emami Realty Ltd operates in a challenging financial environment. As of December 3, 2024, the market capitalization stood at approximately ₹413 Crores (though other sources indicated ₹443.95 Crores). The company trades on both major Indian exchanges under the symbol EMAMIREAL.
The stock has experienced significant volatility, with a 52-week high of ₹157.16 and a low of ₹72.87. Its all-time high was ₹598.80 (July 28, 2010), and the all-time low was ₹11.80 (August 8, 2013). The stock exhibits 6.62% volatility and a beta coefficient of 1.84.
Financially, the company reported a revenue of ₹82.3 crores but incurred a significant loss of ₹126 crores. Sales growth over the past five years has been negative at -39.8%. Recent quarterly performance shows a mixed trend:
- Q3 FY25 (ended Dec 2024): Reported a net loss of ₹19.47 crore, compared to ₹16.86 crore loss in Dec 2023. Sales saw substantial improvement, rising 136.25% to ₹57.22 crore from ₹24.22 crore in the same period last year.
- Q2 FY25 (ended Sep 2024): Reported a net loss of ₹13.27 crore (vs. ₹21.33 crore loss in Sep 2023), while sales declined 11.24% to ₹6.00 crore from ₹6.76 crore in the corresponding quarter of the previous year.
- Market Capitalization: ~₹413 Crores (As of Dec 2024)
- Promoter Holding: 68.4% (Increased by 4.99% in the last quarter)
- Revenue (Latest Data): ₹82.3 Crores
- Net Loss (Latest Data): ₹126 Crores
- 5-Year Sales Growth: -39.8%
- Q3 FY25 Net Loss: ₹19.47 Crores
- Q3 FY25 Sales: ₹57.22 Crores (vs. ₹24.22 Crores in Q3 FY24)
- Current PE Ratio: -3.87
- Current PB Ratio: -7.06
- Volatility: 6.62%
- Beta Coefficient: 1.84
Emami Realty has developed a substantial real estate portfolio across India, spanning over 3.7 crore square feet. Their projects are located in West Bengal, Uttar Pradesh, Tamil Nadu, Andhra Pradesh, Odisha, Maharashtra, and Sri Lanka.
Key projects and developments include:
- Residential Properties: Emami City, Emami Swan Lake, Emami Aastha (Joka, Kolkata), Emami Aerocity (Coimbatore, Tamil Nadu), Montana (Phase 1, Mulund, Mumbai).
- Commercial/Retail: Emami Business Bay (a 15-floor structure with office space, retail, and parking), Emami Tejomaya, Emami Aerocity (plots for shops).
- Integrated Developments: Emami City (approx. 25 lakh sq ft residential complex in Kolkata), Emami Aerocity (approx. 62 acres of plotted land with residential plots and shop plots).
The company operates through various Special Purpose Vehicles and Joint Ventures to execute these diverse projects.
- Promoter Holding: Stands at 68.4%, showing increased promoter confidence with a 4.99% rise over the last quarter.
- Key Management: Abhijit Datta serves as Chairman, and Payel Jain is the Company Secretary.
- Board Appointments: Ms. Ishani Ray was appointed as an Independent Director for 5 years from March 29, 2025.
- Compliance: The company's Annual Secretarial Compliance Report for FY2025 confirms regulatory adherence.
The stock performance shows mixed signals. Over shorter periods, EMAMIREAL has seen gains:
- Weekly: +6.62% increase
- Monthly: +5.69% increase
- Annually: +4.16% increase
However, longer-term performance indicates substantial challenges, with a significant revenue decline over five years. Despite operational difficulties, the market capitalization has increased by 7.60% over the past year.
Investment Considerations:
- The real estate sector is inherently cyclical.
- Emami Realty benefits from being part of the established Emami Group.
- Current financial metrics (negative PE/PB ratios, high loss) warrant caution.
- Project execution timelines, regulatory approvals, and market conditions are critical factors impacting performance.
- The company's ability to navigate the typical challenges of the Indian real estate sector, including lengthy project cycles and market volatility, will be key to its future success.
