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Pansari Developers Limited (PANSARI) Fair Value & Analysis

Real Estate · IN · Market cap ₹5.5B

PD Pansari Developers Limited PANSARI · NSE
Price₹318.65
Fair Value₹100.35
Upside-68.5%
Quality38/100
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Mixed Growth
Highly profitable · 20.7% net margin
Low debt · negative free cash flow
Trails peers (4/12)
Narrow moat 40/100
Evidence: High Range ₹61.32 – ₹139.38 Share as image

Fair value as of: Aug 13, 2026

From 7 valuation models · updated 4 days ago

Share price −11.6% over the past month.

Below-average quality, and screening another 69% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (₹139.38). The favourable scenario is already priced in.
  • Weak quality (38/100) and above fair value at the same time, the margin of safety is missing on both counts.
  • A fairly wide model range (₹61.32 to ₹139.38) 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.
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Price vs Fair Value (5 years)

₹365.30 ₹45.00 Fair Value ₹100.35 Apr 2021 Aug 2026

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

How to read this chart

60‑month range ₹45.00 – ₹365.30 · fair‑value band ₹61.32 – ₹139.38 · the ₹318.65 price screens above the ₹100.35 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

Pansari Developers Limited (PANSARI) currently trades at ₹318.65, while our model-based Fair Value estimate is ₹100.35, implying the stock looks roughly 68.5% overvalued today. The Quality Score stands at 38/100 (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: high).

Over the trailing twelve months, Pansari Developers Limited generated revenue of ₹961M at a net margin of 20.7%. Revenue declined 27.3% year over year. It earns a return on equity of 13.8%. Net debt stands at ₹973M. Fundamentals as of Aug 13, 2026

Our scenario range runs from ₹61.32 (bear case) to ₹139.38 (bull case); at ₹318.65, 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 10% below its 52-week high and 38% above its 52-week low, currently above its 200-day average. For context, the median of 10 Real Estate peers we cover trades at 15% fair-value upside, at -69%, PANSARI 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.

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
Highest evidence
Residual Income ₹82.49 ₹99.68 ₹221.00 61
P/S Multiple ₹145.35 ₹193.81 ₹242.26 58
P/B Multiple ₹132.56 ₹176.75 ₹220.94 55
All 7 models by family
Multiples
P/S Multiple ₹145.35 ₹193.81 ₹242.26 58
P/B Multiple ₹132.56 ₹176.75 ₹220.94 55
EV/EBIT ₹118.80 ₹157.83 ₹196.87 53
EV/EBITDA ₹110.03 ₹146.13 ₹182.24 54
EV/Revenue ₹66.28 ₹93.96 ₹121.64 43
Asset-Based
NCAV (Graham) ₹44.19 ₹59.21 ₹88.38 50
Economic Profit
Residual Income ₹82.49 ₹99.68 ₹221.00 61

Widest divergence: Multiples (₹157.83) versus Asset-Based (₹59.21). Highest evidence: Residual Income (61).

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Key figures & financial health

Revenue (TTM) ₹961M
Revenue growth (YoY) -27.3%
Net margin 20.7%
Return on equity 13.8%
Free cash flow −₹161M FY2026
P/E ratio 32.6
More key figures
Operating margin -6.6%
EPS (TTM) ₹9.76
EPS growth (YoY) +53.1%
Net debt ₹973M FY2026

Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 38/100

Of which business quality 36 · Market factors (momentum, volatility) 65

Profitability 37
Margins and returns on capital today
Quality Growth 55
Are margins and returns improving?
Cashflow 0
Earnings quality: real cash, not paper profit
Fin. Strength 32
Balance sheet, leverage, solvency risk
Investment 44
Disciplined investing over empire-building
Low Volatility 64
Calm price path (market factor)
Momentum 65
Price trend over the last 3–12 months (market factor)
52W Momentum 69
Distance to the 52-week high (market factor)
Net Issuance 72
Buybacks instead of dilution

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

Pansari Developers Limited operates as a construction and real estate development company in India. The company constructs and develops residential and commercial properties; and sells residential units and land. Pansari Developers Limited was incorporated in 1996 and is based in Kolkata, India.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2022 – FY2026 · reported fiscal years

Pansari Developers Limited reported revenue of ₹961M in FY2026 versus ₹537M in FY2022, a compound +15.7%/yr. Reported net income was ₹199M in FY2026, compounding +52.9%/yr from FY2022.

Growth Quality 60/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Latest Revenue (FY 2026)
₹961M
Latest YoY
+140.4%
Avg. growth/yr (5Y) 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.
+26.4%
Avg. growth/yr (14Y) 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.
+7.6%
Revenue +15.7%/yr
FY22 ₹537M
FY23 ₹163M
FY24 ₹565M
FY25 ₹400M
FY26 ₹961M
Net income +52.9%/yr
FY22 ₹36.4M
FY23 ₹20.1M
FY24 ₹52.1M
FY25 ₹75.0M
FY26 ₹199M
Character of growth · EPS growth decomposed (2015-2026) +16.0 % p.a.
Revenue per share +30.2 pp

of which total revenue +30.8 pp · buybacks/dilution −0.6 pp

EBIT margin −15.0 pp
Tax rate −1.2 pp
Residual (interest, one-offs) +2.1 pp

Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).

PANSARI screens 69% overvalued. Compare with DLF Limited →

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Cite: Fair Value Calculator (2026). "Pansari Developers Limited Fair Value". https://www.fairvalue-calculator.com/stock/PANSARI

Peer Group

Real Estate - Development · 590 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.

Quality Score 39 · Below median
Fair Value upside −69% · Bottom 25%
Return on equity (TTM) 14% · Top 25%
Return on assets 2% · Above median
Net margin (TTM) 21% · Top 25%
Operating margin (TTM) -7% · Bottom 25%
Revenue growth -27% · Below median

Valuation Multiples vs Real Estate - Development median · lower = cheaper

P/E (TTM) 32.6× · Pricier than 75% of peers
P/B 3.55× · Pricier than 75% of peers
P/S (TTM) 5.69× · Pricier than 75% of peers
EV/EBITDA 33.4× · Pricier than 75% of peers

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 · sector 48
FUTURE 0 · sector 0
PAST 55 · sector 9
HEALTH 100 · sector 85
DIVIDEND 0 · sector 58

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.

None of the checked exposures detected

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 13, 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 6,050 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%
PT Duta Pertiwi Tbk DUTI 4,300 IDR 6,239 IDR +45%
PT Puradelta Lestari Tbk DMAS 147.00 IDR 164.33 IDR +12%
Phat Dat Real Estate Development Corporation PDR 12,100 VND 4,943 VND -59%

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Frequently asked questions

Is Pansari Developers Limited (PANSARI) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of ₹100.35 versus a price of ₹318.65, about −69% (overvalued).
What is the fair value of PANSARI?
Our model-based fair value for Pansari Developers Limited is ₹100.35 (as of Aug 13, 2026), built from audited fundamentals. The current price is ₹318.65.
What is the quality score of PANSARI?
Pansari Developers Limited has a Quality Score of 38/100. 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 revenue of Pansari Developers Limited (PANSARI)?
Pansari Developers Limited reported trailing-twelve-month revenue of about ₹961M (latest available figure, as of Aug 13, 2026).
What is the net profit margin of PANSARI?
The net profit margin of Pansari Developers Limited is about 20.7%, meaning it keeps roughly 20.7% of revenue as net income. Based on the latest reported figures.

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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