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Excel Realty N Infra Limited (EXCEL) fair value: what the stock is really worth

We calculate from audited financials what Excel Realty N Infra Limited is really worth. The fair value tells you whether the price is too high or too low, the quality score (0 to 100) how solid the business behind it is. 26 models, 37 quality factors, updated daily.

  1. Fair value above price? Yes
  2. Good quality? No
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Industrials · IN · ISIN INE688J01023

ER Thin data Sep 13, 2026

Excel Realty N Infra Limited

EXCEL · BSE

Low PriorityFair Value upside is limited and quality is weak.

·Fair value ₹0.6100 · Fairly valued (+9%)
!Quality 49/100
!Mixed Growth (revenue 5y +7.5 %/yr)
!Loss over the last twelve months · -9.5% net margin (TTM) · fiscal year 2025 5.1%
!Low debt · negative free cash flow
!Narrow moat 5/100
!Evidence only low, so the estimate is less certain
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26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

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Price vs Fair Value

₹1.86 ₹0.1527 Fair Value ₹0.6100 May 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 13, 2026.

How to read this chart

60‑month range ₹0.1527 – ₹1.86 · fair‑value band ₹0.4300 – ₹0.6100 · the ₹0.5600 price screens below the ₹0.6100 fair value. Dashed = 300-day average. As of Sep 13, 2026.

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Company profile

Excel Realty N Infra Limited engages in the infrastructure, information technology, business process outsourcing, and general trading activities in India. The company provides customer care and inbound and outbound services, as well as handles the business relations of clients on their behalf. It also develops infrastructure facilities.

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Excel Realty N Infra Limited engages in the infrastructure, information technology, business process outsourcing, and general trading activities in India. The company provides customer care and inbound and outbound services, as well as handles the business relations of clients on their behalf. It also develops infrastructure facilities. The company was formerly known as Excel Infoways Limited and changed its name to Excel Realty N Infra Limited in May 2015. The company was incorporated in 2003 and is headquartered in Mumbai, India.

Stock analysis

Excel Realty N Infra Limited (EXCEL) currently trades at ₹0.5600, while our model-based Fair Value estimate is ₹0.6100, implying the stock looks roughly 8.2% fairly valued today.

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Valuation

Bull case: the Asset-Based group reads highest at a median of ₹0.8200 per share, and 2 of the 7 models we run sit above the ₹0.5600 price.

Bear case: the Multiples group reads lowest at ₹0.0800, and 5 of the 7 models stay below the price. Evidence for this calculation is low.

Scenario range: ₹0.4300 (bear) to ₹0.6100 (bull), the price of ₹0.5600 sits inside 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 49/100 (below-average quality), in the Industrials sector.

Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.

Excel Realty N Infra Limited reported revenue of ₹136M in FY2025 versus ₹76.2M in FY2021, a compound +15.6%/yr. Reported net income was ₹6.9M in FY2025, compounding −3.2%/yr from FY2021.

Key figures

Market cap ₹1.5B (≈ $15.3M) · P/S ratio 12.9 · Net margin 5.1% · Return on equity 0.1% · Return on assets (EBIT) −1.3% · Operating margin −64.4% · Revenue (TTM) ₹112M · Revenue growth (YoY) −63.0%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 50 out of 100 (low confidence).

What moves the price

The share trades about 68% below its 52-week high, currently below its 200-day average.

For context, the median of 10 Industrials peers we cover trades at 0% fair-value upside, at 9%, EXCEL screens cheaper than that median.

Fair Value models

Bear ₹0.4300 Fair Value ₹0.6100 Bull ₹0.6100
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. 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. Evidence ⓘEvidence = 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.
Highest evidence
Owner Earnings ₹0.0100 ₹0.0100 ₹0.0200 75
Residual Income ₹0.7700 ₹0.6900 ₹0.4400 71
Graham-Dodd ₹0.0300 ₹0.2300 ₹0.3300 63
All 7 models by family
DCF Models
Owner Earnings ₹0.0100 ₹0.0100 ₹0.0200 75
Earnings-Based
Graham-Dodd ₹0.0300 ₹0.2300 ₹0.3300 63
Lynch FV ₹0.1200 ₹0.1700 ₹0.2200 61
Multiples
P/E Multiple ₹0.0800 ₹0.1000 ₹0.1300 63
P/B Multiple ₹0.0600 ₹0.0800 ₹0.1000 55
Asset-Based
NCAV (Graham) ₹0.6100 ₹0.8200 ₹1.23 54
Economic Profit
Residual Income ₹0.7700 ₹0.6900 ₹0.4400 71

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Quality Score breakdown

Overall quality 49/100

Of which business quality 48 · Market factors (momentum, volatility) 19

Profitability 14
Margins and returns on capital today
Quality Growth 66
Are margins and returns improving?
Cashflow 0
Earnings quality: real cash, not paper profit
Fin. Strength 76
Balance sheet, leverage, solvency risk
Investment 90
Disciplined investing over empire-building
Low Volatility 62
Calm price path (market factor)
Momentum 1
Price trend over the last 3–12 months (market factor)
52W Momentum 0
Distance to the 52-week high (market factor)
Net Issuance 82
Share count: buybacks or dilution?

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Revenue & earnings trend

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. 35/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
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.
+15.9%
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.
+7.5%
Revenue growth 6 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.
+4.3%
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.
+6.5%
Earnings growth per share plus dividend.
Earnings per share, growth per year+6.5%
Dividend (yield on the price)0.0%
Profit margin 2020 to 2025 ⓘ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.−10% → −22%

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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.Conglomerates · 377 stocks

Beats the industry median on 2/9 measures
Overall it trails its industry peers.
Valuation
Quality Score 49 · Below median
Fair Value upside −84% · Bottom 25%
Profitability
Return on equity (TTM) 0% · Below median
Return on assets −2% · Bottom 25%
Net margin (TTM) −9% · Bottom 25%
Operating margin (TTM) −64% · Bottom 25%
Growth and dividend
Revenue growth −63% · Bottom 25%
Balance sheet
Debt / equity 0.00× · Lowest 25%

Valuation Multiplesvs Conglomerates median · lower = cheaper

P/S (TTM) 0.14× · Cheapest 25%

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

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Excel Realty N Infra Limited · Fair Value
₹0.6100 +8%Fair Value
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Cite: Fair Value Calculator (2026). "Excel Realty N Infra Limited Fair Value". https://www.fairvalue-calculator.com/stock/EXCEL

Frequently asked questions

Is Excel Realty N Infra Limited (EXCEL) overvalued or undervalued?
As of Sep 13, 2026, our model estimates a fair value of ₹0.6100 versus a price of ₹0.5600, about +9% upside (fairly valued).
What is the fair value of EXCEL?
Our model-based fair value for Excel Realty N Infra Limited is ₹0.6100 (as of Sep 13, 2026), built from audited fundamentals. The current price: ₹0.5600.
What is the quality score of EXCEL?
Excel Realty N Infra Limited has a Quality Score of 49/100. 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 Excel Realty N Infra Limited (EXCEL)?
Our model-based price target is the fair value of ₹0.6100 (as of Sep 13, 2026) from 7 valuation models. Cautious scenario ₹0.4300, optimistic scenario ₹0.6100. It is a calculation from audited fundamentals, not an analyst target.
What is the Excel Realty N Infra Limited stock forecast for 2026?
Our models put fair value at ₹0.6100, about +9% upside versus a price of ₹0.5600 (fairly valued). Cautious scenario ₹0.4300, optimistic scenario ₹0.6100. The calculation is refreshed regularly with new filings.
What is the revenue of Excel Realty N Infra Limited (EXCEL)?
Excel Realty N Infra Limited reported trailing-twelve-month revenue of about ₹112M (latest available figure, as of Sep 13, 2026).
What is the intrinsic value of Excel Realty N Infra Limited (EXCEL)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Excel Realty N Infra Limited it is ₹0.6100 per share (as of Sep 13, 2026), against a price of ₹0.5600. It is the blended result of 7 valuation models (cash flow, earnings, asset, dividend).
Is Excel Realty N Infra Limited stock overvalued or undervalued in 2026?
As of Sep 13, 2026, EXCEL trades below its calculated fair value: price ₹0.5600, fair value ₹0.6100, a gap of about +9% (fairly valued). 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 EXCEL?
No. The price is what the market pays today (₹0.5600); the fair value is what the company's own numbers justify (₹0.6100). For Excel Realty N Infra Limited the two are ₹0.0500 per share apart. That gap is exactly why we show both numbers side by side.
How much is Excel Realty N Infra Limited worth?
The market values Excel Realty N Infra Limited at about ₹1.5B (market capitalisation, as of Sep 13, 2026). Per share that is ₹0.5600; our models calculate a fair value of ₹0.6100 per share.
What do the bullish and bearish scenarios say about EXCEL?
Our models span a range for Excel Realty N Infra Limited: cautious scenario ₹0.4300, base ₹0.6100, optimistic ₹0.6100 per share (as of Sep 13, 2026, price ₹0.5600). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Excel Realty N Infra Limited (EXCEL)?
Balance-sheet figures for Excel Realty N Infra Limited (as of Sep 13, 2026): return on equity 0.1%, debt of 0.00 per unit of equity. They feed the Quality Score of 49/100, which measures business quality independently of the share price.
How far is EXCEL from its 52-week high?
Excel Realty N Infra Limited trades at ₹0.5600, about 68% below its 52-week high of ₹1.75 (as of Sep 13, 2026). Distance from the high says nothing about value: that is what the fair value of ₹0.6100 is for.
Which stocks are comparable to Excel Realty N Infra Limited?
From the same area (Industrials) we also value ITOCHU Corporation, 3M Company, Honeywell International Inc, CITIC Limited, 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 Excel Realty N Infra Limited stock attractive at the current price?
The data as of Sep 13, 2026: price ₹0.5600, calculated fair value ₹0.6100 (+9%), Quality Score 49/100, from 7 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 EXCEL calculated?
We run Excel Realty N Infra Limited through 7 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of ₹0.6100, 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 15.8 % above its aggregate fair value. Excel Realty N Infra Limited currently trades 9 % below its own fair value, and the market average says nothing about that. 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 should I pay attention to with Excel Realty N Infra Limited right now?
The price sits close to our fair value, market and models broadly agree here, little valuation tension. Evidence is limited here (fewer models, shorter history), so the fair value is a rougher estimate than usual.

Key figures of Excel Realty N Infra Limited

How large is the market capitalisation of Excel Realty N Infra Limited (EXCEL)?
The market capitalisation of Excel Realty N Infra Limited is ₹1.5B (≈ $15.3M). 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 Excel Realty N Infra Limited (EXCEL)?
The price-to-sales ratio of Excel Realty N Infra Limited is 12.9 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What is the net margin of Excel Realty N Infra Limited (EXCEL)?
The net margin of Excel Realty N Infra Limited is 5.1% (fiscal year 2025). 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 Excel Realty N Infra Limited (EXCEL)?
The return on equity (ROE) of Excel Realty N Infra Limited is 0.1% (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 Excel Realty N Infra Limited (EXCEL)?
On an EBIT basis the return on assets of Excel Realty N Infra Limited is −1.3% (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 Excel Realty N Infra Limited (EXCEL)?
The operating margin of Excel Realty N Infra Limited is −64.4% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Excel Realty N Infra Limited (EXCEL)?
Revenue at Excel Realty N Infra Limited is growing −63.0% versus a year earlier (3y avg +15.9%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How much free cash flow does Excel Realty N Infra Limited (EXCEL) generate?
The free cash flow of Excel Realty N Infra Limited is −₹68.0M (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
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