THAKKERS DEVELOPERS LTD. (THAKDEV) fair value: what the stock is really worth
As of Oct 26, 2026: fair value (intrinsic value) of THAKKERS DEVELOPERS LTD. stock ₹87.39, price ₹148, that is 40.8% below the price, quality 53 out of 100. Rating: strongly overvalued. Calculated from audited financials with 14 of our 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 6, 2026.
How to read this chart
60‑month range ₹60.00 – ₹247.80 · fair‑value band ₹61.17 – ₹113.61 · the ₹147.50 price screens above the ₹87.39 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 6, 2026.
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THAKKERS DEVELOPERS LTD. (THAKDEV) currently trades at ₹147.50, while our model-based Fair Value estimate is ₹87.39, 41% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Economic Profit group reads highest at a median of ₹107.08 per share, and 0 of the 14 models we run sit above the ₹147.50 price.
Bear case: the Growth DCF group reads lowest at ₹12.73, and 14 of the 14 models stay below the price. Data coverage for this calculation is medium.
Scenario range: ₹61.17 (bear) to ₹113.61 (bull), the price of ₹147.50 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 53/100 (solid quality), in the Real Estate sector.
Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
THAKKERS DEVELOPERS LTD. reported revenue of ₹347M in FY2026 versus ₹299M in FY2022, a compound +3.8%/yr. Reported net income was ₹51.1M in FY2026, compounding −37.7%/yr from FY2022.
Key figures
Market cap ₹1.3B (≈ $14.1M) Micro · P/E ratio 9.7 · P/S ratio 3.01 · EPS (TTM) ₹15.18 · Net margin 31.1% · Return on equity 8.6% · Return on assets (EBIT) 5.1% (5-year average) · Operating margin 50.2%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 59 out of 100 (low confidence).
What moves the price
The share trades about 10% below its 52-week high and 70% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Real Estate peers we cover trades at −39% fair-value upside, at −41%, THAKDEV screens richer than that median.
Fair Value models
The price assumes far more growth than our models allow for, so the models scatter widely (₹8.36 to ₹138.05). Read the Fair Value as a cautious anchor, not a price target; the Growth Forecast section shows what the price assumes.
Bear₹61.17Fair Value ₹87.39Bull₹113.61
Price ₹147.50 · Downside -40.8%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2026 figures (about 7 months old). Earnings retained since then (₹9.27 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.40/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
+9.7%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−9.0%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+5.3%
Start year 2021 (pandemic)
Revenue growth 7 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+9.5%
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What shareholders gained per year (last 5 years), in INR ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Measured in INR: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
−14.9%
Earnings growth per share plus dividend.
Earnings per share, growth per year−14.9%
Dividend (yield on the price)0.0%
Profit margin 2021 to 2026 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.36% → 5%
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+48.2%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (India: IMF forecast 4.1% a year to 2030, 4.7% from 2016 to 2025) that is about +42.3% a year for the price.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Real Estate Development · 23 stocks
Beats the industry median on 9/13 measures
Overall it ranks above its industry peers.
Valuation
Quality Score53 · Above median
Fair Value upside−40.8% · Bottom 25%
Profitability
Return on equity (12 months)8.6% · Above median
Return on assets2.4% · Above median
Net margin (12 months)31.1% · Top 25%
Operating margin (12 months)50.2% · Top 25%
Growth and dividend
Revenue growth (quarter YoY)104.6% · Top 25%
Balance sheet
Debt / equity0.10× · Below median
Valuation Multiplesvs Real Estate Development median · lower = cheaper
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Is THAKKERS DEVELOPERS LTD. (THAKDEV) overvalued or undervalued?
As of Nov 6, 2026, our model estimates a fair value of ₹87.39 versus the last price from Oct 26, 2026 of ₹147.50, about 41% lower (overvalued).
What is the fair value of THAKDEV?
Our model-based fair value for THAKKERS DEVELOPERS LTD. is ₹87.39 (as of Nov 6, 2026), built from audited fundamentals. Last price (from Oct 26, 2026): ₹147.50.
What is the quality score of THAKDEV?
THAKKERS DEVELOPERS LTD. has a Quality Score of 53/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for THAKKERS DEVELOPERS LTD. (THAKDEV)?
Our model-based price target is the fair value of ₹87.39 (as of Nov 6, 2026) from 14 valuation models. Cautious scenario ₹61.17, optimistic scenario ₹113.61. It is a calculation from audited fundamentals, not an analyst target.
What is the THAKKERS DEVELOPERS LTD. stock forecast for 2026?
Our models put fair value at ₹87.39, about 41% lower versus the last price from Oct 26, 2026 of ₹147.50 (overvalued). Cautious scenario ₹61.17, optimistic scenario ₹113.61. The calculation is refreshed regularly with new filings.
What is the revenue of THAKKERS DEVELOPERS LTD. (THAKDEV)?
THAKKERS DEVELOPERS LTD. reported trailing-twelve-month revenue of about ₹441M (latest available figure, as of Nov 6, 2026).
What growth is priced into THAKKERS DEVELOPERS LTD. (THAKDEV)?
For today's price to be fair in a discounted-cash-flow model, THAKKERS DEVELOPERS LTD. would have to grow free cash flow by +48.2 % per year for five years (discount rate 12.4 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +5.3 % per year. As of Nov 6, 2026.
What discount rate (WACC) does the fair value of THAKDEV use?
Our models discount THAKKERS DEVELOPERS LTD. at 12.4 %: a base by market capitalisation (nano), country premium for India. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For THAKKERS DEVELOPERS LTD. that is +48.2 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (12.4 %) and the same formula as our fair value.
How much growth has THAKKERS DEVELOPERS LTD. (THAKDEV) delivered so far?
Over the past 5 years revenue at THAKKERS DEVELOPERS LTD. grew +5.3 % a year. The price currently implies free-cash-flow growth of +48.2 % per year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
What is the free cash flow yield of THAKKERS DEVELOPERS LTD. (THAKDEV)?
The free-cash-flow yield on the price is 1.18 %: that much free cash flow THAKKERS DEVELOPERS LTD. produces per unit of market value. When it exceeds the discount rate of our models (12.4 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of THAKKERS DEVELOPERS LTD. (THAKDEV)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For THAKKERS DEVELOPERS LTD. it is ₹87.39 per share (as of Nov 6, 2026), against a price of ₹147.50. It is the blended result of 14 valuation models in 5 families (DCF Models, Multiples, Asset-Based, Growth DCF, Economic Profit).
Is THAKKERS DEVELOPERS LTD. stock overvalued or undervalued in 2026?
As of Nov 6, 2026, THAKDEV trades above its calculated fair value: price ₹147.50, fair value ₹87.39, a gap of about −41% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of THAKDEV?
No. The price is what the market pays today (₹147.50); the fair value is what the company's own numbers justify (₹87.39). For THAKKERS DEVELOPERS LTD. the two are ₹60.11 per share apart. That gap is exactly why we show both numbers side by side.
How much is THAKKERS DEVELOPERS LTD. worth?
The market values THAKKERS DEVELOPERS LTD. at about ₹1.3B (market capitalisation, as of Nov 6, 2026). Per share that is ₹147.50; our models calculate a fair value of ₹87.39 per share.
What do the bullish and bearish scenarios say about THAKDEV?
Our models span a range for THAKKERS DEVELOPERS LTD.: cautious scenario ₹61.17, base ₹87.39, optimistic ₹113.61 per share (as of Nov 6, 2026, price ₹147.50). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of THAKDEV?
THAKKERS DEVELOPERS LTD. trades at a price-to-earnings ratio of 9.7 (as of Nov 6, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of ₹87.39 is built from several models across several years. Median P/E at fiscal year-end, 7 fiscal years (2019 to 2026), reported earnings: 11.6. Other multiples: P/B 0.9, P/S 3.0, EV/EBITDA 12.1.
How solid is the balance sheet of THAKKERS DEVELOPERS LTD. (THAKDEV)?
Balance-sheet figures for THAKKERS DEVELOPERS LTD. (as of Nov 6, 2026): return on equity 8.6%, debt of 0.10 per unit of equity. They feed the Quality Score of 53/100, which measures business quality independently of the share price.
How far is THAKDEV from its 52-week high?
THAKKERS DEVELOPERS LTD. trades at ₹147.50, about 10% below its 52-week high of ₹163.90 and 70% above the low of ₹86.63 (as of Nov 4, 2026). Distance from the high says nothing about value: that is what the fair value of ₹87.39 is for.
Which stocks are comparable to THAKKERS DEVELOPERS LTD.?
From the same area (Real Estate) we also value BRRL, MODIS, SHRADDHA, HAZOOR, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is THAKKERS DEVELOPERS LTD. stock attractive at the current price?
The data as of Nov 6, 2026: price ₹147.50, calculated fair value ₹87.39 (−41%), Quality Score 53/100, from 14 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of THAKDEV calculated?
We run THAKKERS DEVELOPERS LTD. through 14 models from 5 families: DCF Models, Multiples, Asset-Based, Growth DCF, Economic Profit. Every model gets the same audited fundamentals; the fair value of ₹87.39 builds on their evidence-weighted average, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.3% above its aggregate fair value. THAKKERS DEVELOPERS LTD. itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of THAKKERS DEVELOPERS LTD. (THAKDEV)?
The latest price we hold is from Oct 26, 2026 and stands at ₹147.50. Our model-based fair value is ₹87.39, about 41% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with THAKKERS DEVELOPERS LTD. right now?
The price sits above even our optimistic bull case (₹113.61). The favourable scenario is already priced in. Solid but not exceptional quality (53/100) and above fair value, neither a clear bargain nor a standout compounder. A fairly wide model range (₹61.17 to ₹113.61) leaves room in how you read the outcome. As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
Key figures of THAKKERS DEVELOPERS LTD.
How large is the market capitalisation of THAKKERS DEVELOPERS LTD. (THAKDEV)?
The market capitalisation of THAKKERS DEVELOPERS LTD. is ₹1.3B (≈ $14.1M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of THAKKERS DEVELOPERS LTD. (THAKDEV)?
The price-to-sales ratio of THAKKERS DEVELOPERS LTD. is 3.01 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of THAKKERS DEVELOPERS LTD. (THAKDEV)?
Earnings per share at THAKKERS DEVELOPERS LTD. are ₹15.18 (price ÷ EPS = P/E 9.7). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of THAKKERS DEVELOPERS LTD. (THAKDEV)?
The net margin of THAKKERS DEVELOPERS LTD. is 31.1% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of THAKKERS DEVELOPERS LTD. (THAKDEV)?
The return on equity (ROE) of THAKKERS DEVELOPERS LTD. is 8.6% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of THAKKERS DEVELOPERS LTD. (THAKDEV)?
On an EBIT basis the return on assets of THAKKERS DEVELOPERS LTD. is 5.1% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of THAKKERS DEVELOPERS LTD. (THAKDEV)?
The operating margin of THAKKERS DEVELOPERS LTD. is 50.2% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at THAKKERS DEVELOPERS LTD. (THAKDEV)?
Revenue at THAKKERS DEVELOPERS LTD. is growing +105% versus a year earlier (3y avg −9.0%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at THAKKERS DEVELOPERS LTD. (THAKDEV)?
Earnings per share at THAKKERS DEVELOPERS LTD. are growing +594% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does THAKKERS DEVELOPERS LTD. (THAKDEV) carry?
The net debt of THAKKERS DEVELOPERS LTD. is ₹151M (fiscal year 2026, ≈ 9.7 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Some data
Nov 6, 2026