Dharan Infra-EPC Limited (DHARAN) Fair Value & Analysis
Real Estate · IN · Market cap ₹784M
Fair value as of: Aug 15, 2026
From 7 valuation models · updated 2 days ago
Share price +6.7% over the past month.
Below-average quality, and screening another 47% overvalued on our models.
What matters now
- The price sits above even our optimistic bull case (₹0.0878). The favourable scenario is already priced in.
- Weak quality (44/100) and above fair value at the same time, the margin of safety is missing on both counts.
- The models converge in a tight band (₹0.0798 to ₹0.0878), unusually little disagreement for a valuation.
- As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 15, 2026.
How to read this chart
60‑month range ₹0.1100 – ₹23.10 · fair‑value band ₹0.0798 – ₹0.0878 · the ₹0.1600 price screens above the ₹0.0850 fair value. Dashed = 300-day average. As of Aug 15, 2026.
Analysis
Dharan Infra-EPC Limited (DHARAN) currently trades at ₹0.1600, while our model-based Fair Value estimate is ₹0.0850, implying the stock looks roughly 46.9% overvalued today. The Quality Score stands at 44/100 (below-average quality), in the Real Estate sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: medium).
Trailing-twelve-month revenue stands at ₹63.5M. Revenue declined 55.7% year over year. It earns a return on equity of -3.8%. The balance sheet holds a net cash position of ₹6.4B. Fundamentals as of Aug 15, 2026
Our scenario range runs from ₹0.0798 (bear case) to ₹0.0878 (bull case); at ₹0.1600, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 74% below its 52-week high and 45% above its 52-week low, currently below its 200-day average. For context, the median of 10 Real Estate peers we cover trades at 15% fair-value upside, at -47%, DHARAN screens richer than that median.
Fair Value models
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.
All 7 models by family
Widest divergence: Growth DCF (₹1.54) versus Asset-Based (₹1.13). Highest evidence: Growth DCF (80).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 15, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 55 · Market factors (momentum, volatility) 26
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
About the company
Dharan Infra-EPC Limited engages in the engineering, procurement, and construction business in India. Its projects include railways, roads, bridges, hydro dams, solar farming, waste to energy, housing, and various ports. The company was formerly known as KBC Global Limited and changed its name to Dharan Infra-EPC Limited in June 2025.
Full company description
Dharan Infra-EPC Limited engages in the engineering, procurement, and construction business in India. Its projects include railways, roads, bridges, hydro dams, solar farming, waste to energy, housing, and various ports. The company was formerly known as KBC Global Limited and changed its name to Dharan Infra-EPC Limited in June 2025. The company was founded in 1994 and is based in Nashik, India.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Dharan Infra-EPC Limited reported revenue of ₹180M in FY2025 versus ₹1.0B in FY2021, a compound −35.1%/yr. Reported net income was −₹383M in FY2025.
DHARAN screens 47% overvalued. Compare with DLF Limited →
Peer Group
Real Estate - Development · 591 stocks
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.
Valuation Multiples vs Real Estate - Development median · lower = cheaper
Snowflake
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
VALUE 0: the price sits above our fair-value range.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Real Estate - Development stocks, each showing price versus our Fair Value estimate (as of Aug 15, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| DLF Limited DLF | ₹661.75 | ₹146.13 | -78% |
| Lodha Developers Limited LODHA | ₹1,209 | ₹583.43 | -52% |
| PT Pantai Indah Kapuk Dua Tbk, PANI | 6,150 IDR | 1,330 IDR | -78% |
| PT Jaya Real Property, Tbk., JRPT | 1,080 IDR | 1,674 IDR | +55% |
| PT Bumi Serpong Damai Tbk, BSDE | 595.00 IDR | 1,488 IDR | +150% |
| PT Sentul City Tbk, BKSL | 73.00 IDR | 84.16 IDR | +15% |
| PT Ciputra Development Tbk, CTRA | 610.00 IDR | 1,525 IDR | +150% |
| Khang Dien House Trading and Investment Joint Stock Company KDH | 18,150 VND | 20,338 VND | +12% |
| PT Duta Pertiwi Tbk DUTI | 4,300 IDR | 6,239 IDR | +45% |
| PT Puradelta Lestari Tbk DMAS | 147.00 IDR | 164.33 IDR | +12% |
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Frequently asked questions
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How we calculate Fair Value
Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.
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