HB Estate Developers

Gurugram, India Founded: 1994 • Age: 32 yrs Listed
Residential real estate development services are provided in India.

About HB Estate Developers

HB Estate Developers is a publicly listed company based in Gurugram (India) founded in 1994. It operates as a residential real estate development services are provided in India. The company has 260 employees. Its Indian entity Hb Estate Developers Limited reported revenue of β‚Ή120 Cr. HB Estate Developers offers products and services including Commercial Complexes and Residential Complexes. Its focus areas include Real Estate and Construction, Real Estate & Infrastructure Developers and Diversified. Its competitors include Vingroup, Lendlease, Eiffage, Lodha Group and Sunac and 5 more.

Company details

HB Estate Developers was founded in 1994 and is headquartered in Gurugram, India. Residential real estate development is the core focus, with services including property acquisition, construction, and project management. Operations are conducted primarily within the Indian real estate sector, targeting urban areas like the National Capital Region. Housing projects are developed to support residential needs in growing markets.

  • Headquarters Gurugram, India
  • Employees 260
  • Stage Public
  • Sectors
    Real Estate & Construction
  • Email
    β€’β€’β€’β€’β€’β€’β€’β€’
  • Phone
    β€’β€’β€’β€’ β€’β€’β€’β€’
  • Website hbestate.com
  • Social LinkedIn
  • Legal Name Hb Estate Developers Limited
Key Metrics
  • Market Cap
    ₹175 Cr

    HBESD · NSE

  • Share Price
    ₹75.41

    -1.18% today

  • Revenue
    ₹117 Cr

    FY 2025-26 · -0.7% YoY

  • EBITDA
    ₹40.71 Cr

    Margin 34.8%

  • Net Profit
    ₹11.71 Cr

    FY 2025-26 · +8.3% YoY

  • P/E (TTM)
    13.6x

    P/B 0.9x

  • ROE
    5.6%

    ROCE 7.0%

  • Debt / Equity
    0.57

    Interest cover 50.4x

  • Latest Funding Round
    $32.27M (USD), Debt – Conventional

    Jun 2010

  • Employee Count
    260

Products & Services of HB Estate Developers

HB Estate Developers offers a comprehensive portfolio of products and services, including Commercial Complexes and Residential Complexes.

Commercial Complexes
Real Estate Development

Development of commercial properties for business use

Residential Complexes
Real Estate Development

Planned construction of residential properties in India

Funding Insights of HB Estate Developers

  • Total Rounds 1
  • Last Round Debt – Conventional β€” $32.27M
  • First Round $32.27M

    (Jun 2010)

All 1 funding rounds of HB Estate Developers with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.

DateAmountTransaction NameValuationLead InvestorsInvestors
Jun 2010$32.27MDebt – Conventional––
–

Board of directors of Hb Estate Developers Limited (HB Estate Developers)

Hb Estate Developers Limited is the primary company behind HB Estate Developers. The board of Hb Estate Developers Limited currently have 5 directors; the longest-serving is Anil Goyal, appointed in 1994. 19 earlier directors have ceased.

DirectorDesignationAppointedTenureEntity
Anil Goyal
DIN 00001938
Director20 Sep 199432 yrs 1 moHb Estate Developers Limited
Lalit Bhasin
DIN 00002114
Director20 Sep 199432 yrs 1 moHb Estate Developers Limited
Sunil Malik
DIN 01153501
Director12 Feb 20206 yrs 8 moHb Estate Developers Limited
Raj Bhargava Kumar
DIN 00016949
Director23 Oct 20241 yr 11 moHb Estate Developers Limited
Urvija Shah
DIN 10155229
Director23 Oct 20241 yr 11 moHb Estate Developers Limited

IPO & Listings of HB Estate Developers

HB Estate Developers is a publicly listed company on the BSE with ticker symbol HBESD in India, operating in the Consumer services sector. As a publicly traded entity, the company provides investors with opportunities to participate in its growth story through equity ownership. The listing enables access to capital markets, enhances corporate visibility, and provides liquidity for shareholders while maintaining transparency through regulatory compliance and regular financial disclosures.

  • IPO date05 Jul 2003
  • Listed onBSE: 532334
  • Listed entityHB Estate Developers Limited
  • Exchange sectorConsumer services
  • ISININE640B01021
  • Share price₹77.90 (-2.65% on the day) · 2026-05-11
  • Market capitalisation₹184 Cr
  • Price to earnings13.3
  • EPS (diluted, trailing year)₹5.87
  • Volume (last session)3,123
  • Analyst consensusNo rating

Financials of HB Estate Developers

Exchange-reported figures of Hb Estate Developers Limited, the listed company behind HB Estate Developers (NSE: HBESD).

Financial Highlights

FY 2025-26 Β· Consolidated
Revenue
₹117 Cr
-0.7% YoY
EBITDA
₹40.71 Cr
-5.5% YoY
Profit After Tax
₹11.71 Cr
+8.3% YoY
Net Worth
₹299 Cr
+6.8% YoY
Total Assets
₹462 Cr
-1.5% YoY
Total Debt
₹153 Cr
-14.6% YoY

Revenue vs Net Profit ₹ Cr

Margin trends

Financial summary ₹ Cr

MetricsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Income statement
Revenue11711810996.4350.4324.4082.05
Revenue growth-0.7%+7.6%+13.5%+91.2%+106.7%-70.3%-
EBITDA40.7143.0838.8531.967.89(5.80)26.34
EBITDA margin+34.8%+36.6%+35.5%+33.1%+15.7%-23.8%+32.1%
Profit before tax17.7616.027.332.55(22.00)(41.06)(11.51)
Net profit11.7110.814.03(11.96)(15.57)(30.36)(8.46)
Net profit margin+10.0%+9.2%+3.7%-12.4%-30.9%-124.4%-10.3%
EPS (β‚Ή)5.044.971.97(5.89)(7.94)(15.39)(4.46)
Balance sheet
Total assets462469470479507504483
Net worth299280204250263278291
Total debt153179256226242223189
Cash & bank26.7319.1111.2512.4818.7121.816.78
Net working capital27.7720.9816.1316.7824.0423.120.28
Cash flow
Cash from operations45.4734.7148.5142.432.76(14.08)28.61
Cash from investing(0.93)(3.97)(1.17)(1.86)(0.37)0.379.93
Cash from financing(35.92)(32.44)(44.97)(41.13)(5.81)15.87(41.80)
ParticularsJun 2026Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025Dec 2024Sep 2024
Revenue27.7532.9733.4626.7323.7633.2331.4127.41
Revenue growth (YoY)+16.8%-0.8%+6.5%-2.5%-7.3%---
Other income0.410.490.360.280.400.980.320.36
EBITDA7.4510.8515.258.076.5313.2612.758.43
EBITDA margin+26.8%+32.9%+45.6%+30.2%+27.5%+39.9%+40.6%+30.8%
Depreciation2.051.992.012.011.971.871.921.93
Interest3.333.634.134.304.435.095.425.58
Profit before tax2.485.729.472.040.537.285.731.28
Tax0.942.182.960.770.152.700.920.80
Net profit1.543.546.511.270.384.584.810.48
EPS (β‚Ή)0.671.542.980.590.182.252.420.25
MetricsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Income statement
Revenue11711810996.4350.4324.4082.05
Revenue growth-0.7%+7.6%+13.5%+91.2%+106.7%-70.3%-
EBITDA40.7143.0838.8531.967.89(5.80)26.34
EBITDA margin+34.8%+36.6%+35.5%+33.1%+15.7%-23.8%+32.1%
Profit before tax17.7616.027.332.55(22.00)(41.06)(11.51)
Net profit11.7110.603.75(11.96)(15.57)(30.36)(8.46)
Net profit margin+10.0%+9.0%+3.4%-12.4%-30.9%-124.4%-10.3%
EPS (β‚Ή)5.044.971.97(5.89)(7.94)(15.39)(4.46)
Balance sheet
Total assets462469470479507504483
Net worth299280204250263275291
Total debt153179256226242226189
Cash & bank26.7319.1111.2512.4818.7121.816.78
Net working capital27.7720.9816.1316.7824.0423.120.28
Cash flow
Cash from operations45.4734.7148.5142.432.76(14.08)28.61
Cash from investing(0.93)(3.97)(1.17)(1.86)(0.37)0.379.93
Cash from financing(35.92)(32.44)(44.97)(41.13)(5.81)15.87(41.80)
ParticularsJun 2026Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025Dec 2024Sep 2024
Revenue27.7532.9733.4626.7323.7633.2331.4127.41
Revenue growth (YoY)+16.8%-0.8%+6.5%-2.5%-7.3%---
Other income0.410.490.360.280.400.980.320.36
Total expenses20.3022.1218.2118.6617.2319.9718.6618.98
EBITDA7.4510.8515.258.076.5313.2612.758.43
EBITDA margin+26.8%+32.9%+45.6%+30.2%+27.5%+39.9%+40.6%+30.8%
Depreciation2.051.992.012.011.971.871.921.93
Interest3.333.634.134.304.435.095.425.58
Profit before tax2.485.729.472.040.537.285.731.28
Tax0.942.182.960.770.152.700.920.80

Financial Statements

Figures in ₹ Cr; negatives in brackets. Updated 21 Oct 2026
ParticularsJun 2026Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025Dec 2024Sep 2024
Revenue27.7532.9733.4626.7323.7633.2331.4127.41
Revenue growth (YoY)+16.8%-0.8%+6.5%-2.5%-7.3%---
Other income0.410.490.360.280.400.980.320.36
EBITDA7.4510.8515.258.076.5313.2612.758.43
EBITDA margin+26.8%+32.9%+45.6%+30.2%+27.5%+39.9%+40.6%+30.8%
Depreciation2.051.992.012.011.971.871.921.93
Interest3.333.634.134.304.435.095.425.58
Profit before tax2.485.729.472.040.537.285.731.28
Tax0.942.182.960.770.152.700.920.80
Net profit1.543.546.511.270.384.584.810.48
EPS (β‚Ή)0.671.542.980.590.182.252.420.25
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Revenue11711810996.4350.4324.4082.05
Revenue growth-0.7%+7.6%+13.5%+91.2%+106.7%-70.3%-
Other income1.532.372.042.341.490.821.19
Total expenses76.2274.6270.5564.4742.5430.2055.71
Employee cost23.5721.8419.6617.8014.4912.1420.00
EBITDA40.7143.0838.8531.967.89(5.80)26.34
EBITDA margin+34.8%+36.6%+35.5%+33.1%+15.7%-23.8%+32.1%
Depreciation7.987.617.447.237.3613.6214.05
Interest16.5021.8226.1224.5224.0222.4624.99
Profit before tax17.7616.027.332.55(22.00)(41.06)(11.51)
Tax6.075.213.4414.18(6.32)(10.69)(2.72)
Net profit11.7110.814.03(11.96)(15.57)(30.36)(8.46)
Net profit margin+10.0%+9.2%+3.7%-12.4%-30.9%-124.4%-10.3%
EPS (β‚Ή)5.044.971.97(5.89)(7.94)(15.39)(4.46)
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Equity & liabilities
Share capital12812774.73125125125105
Reserves & surplus170150129125136150176
Shareholders' funds (net worth)299280204250263278291
Minority interest0.000.000.000.000.000.000.00
Secured loans153175200215228209151
Unsecured loans0.004.2755.7410.4013.8113.4938.09
Total debt153179256226242223189
Total liabilities462469470479507504483
Assets
Gross block502501495493491492492
Net block398404406411416422435
Capital work in progress0.000.000.000.000.000.000.00
Investments2.062.112.792.883.012.341.96
Inventories15.3314.5114.8014.8813.4014.2314.83
Sundry debtors6.504.463.463.112.771.742.42
Cash & bank balances26.7319.1111.2512.4818.7121.816.78
Loans & advances8.5110.8210.6712.4811.3210.7512.66
Total current assets57.0748.9040.1842.9546.2048.5336.69
Total current liabilities29.3027.9224.0526.1722.1625.4136.41
Net working capital27.7720.9816.1316.7824.0423.120.28
Total assets462469470479507504483
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Opening cash4.646.343.964.527.945.779.03
Net cash from operating activities45.4734.7148.5142.432.76(14.08)28.61
Net cash from investing activities(0.93)(3.97)(1.17)(1.86)(0.37)0.379.93
Net cash from financing activities(35.92)(32.44)(44.97)(41.13)(5.81)15.87(41.80)
Net change in cash8.62(1.70)2.38(0.56)(3.42)2.17(3.26)
Closing cash26.7319.1111.2512.4818.7121.816.78
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Growth
Sales growth-0.7%+7.6%+13.5%+91.2%+106.7%-70.3%-
EBITDA growth-5.5%+10.9%+21.6%+305.1%+236.0%-122.0%-
PBT growth+10.9%+118.6%+187.5%+9998.0%+46.4%-256.7%+5.0%
Net income growth+8.3%+168.2%+133.7%+23.2%+48.7%-258.9%-
Revenue CAGR (3Y)+6.6%+32.7%+64.9%+5.5%-17.3%-33.7%+3.8%
EBITDA CAGR (3Y)+8.4%+76.1%-+6.7%-34.6%-+16.8%
Profitability & leverage
Net income margin+10.0%+9.2%+3.6%-12.1%-31.1%-124.5%-10.7%
Return on capital employed+7.0%+7.0%+6.3%0.0%0.0%0.0%0.0%
Return on net worth+5.6%+4.6%+1.9%0.0%0.0%0.0%0.0%
Debt / equity0.570.901.060.910.860.720.66
Long-term debt / equity0.420.540.610.570.580.570.55
Interest cover50.4161.5283.1699.154,532.08-115.65203.34
Efficiency & per share
Fixed asset turnover0.230.240.220.200.100.050.17
Inventory turnover7.848.037.376.823.651.685.72
Debtors turnover21.3429.7233.3032.8022.3611.7327.91
EPS (β‚Ή)5.044.971.97(5.89)(7.94)(15.39)(4.46)
Dividend per share (β‚Ή)0.000.000.000.000.000.000.00
Book value per share (β‚Ή)83.3379.1875.1373.1879.0986.2098.96
ParticularsJun 2026Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025Dec 2024Sep 2024
Revenue27.7532.9733.4626.7323.7633.2331.4127.41
Revenue growth (YoY)+16.8%-0.8%+6.5%-2.5%-7.3%---
Other income0.410.490.360.280.400.980.320.36
Total expenses20.3022.1218.2118.6617.2319.9718.6618.98
EBITDA7.4510.8515.258.076.5313.2612.758.43
EBITDA margin+26.8%+32.9%+45.6%+30.2%+27.5%+39.9%+40.6%+30.8%
Depreciation2.051.992.012.011.971.871.921.93
Interest3.333.634.134.304.435.095.425.58
Profit before tax2.485.729.472.040.537.285.731.28
Tax0.942.182.960.770.152.700.920.80
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Revenue11711810996.4350.4324.4082.05
Revenue growth-0.7%+7.6%+13.5%+91.2%+106.7%-70.3%-
Other income1.532.372.042.341.490.821.19
Total expenses76.2274.6270.5564.4742.5430.2055.71
Employee cost23.5721.8419.6617.8014.4912.1420.00
EBITDA40.7143.0838.8531.967.89(5.80)26.34
EBITDA margin+34.8%+36.6%+35.5%+33.1%+15.7%-23.8%+32.1%
Depreciation7.987.617.447.237.3613.6214.05
Interest16.5021.8226.1224.5224.0222.4624.99
Profit before tax17.7616.027.332.55(22.00)(41.06)(11.51)
Tax6.075.213.4414.18(6.32)(10.69)(2.72)
Net profit11.7110.603.75(11.96)(15.57)(30.36)(8.46)
Net profit margin+10.0%+9.0%+3.4%-12.4%-30.9%-124.4%-10.3%
EPS (β‚Ή)5.044.971.97(5.89)(7.94)(15.39)(4.46)
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Equity & liabilities
Share capital12812774.73125125121105
Reserves & surplus170150129125136150176
Shareholders' funds (net worth)299280204250263275291
Secured loans153175200215228209153
Unsecured loans0.004.2755.7410.4013.8116.7436.17
Total debt153179256226242226189
Total liabilities462469470479507504483
Assets
Gross block502501495493491492492
Net block398404406411416422435
Capital work in progress0.000.000.000.000.000.000.00
Investments2.062.112.792.883.012.341.96
Inventories15.3314.5114.8014.8813.4014.2314.83
Sundry debtors6.504.463.463.112.771.742.42
Cash & bank balances26.7319.1111.2512.4818.7121.816.78
Loans & advances8.5110.8210.6712.4811.3210.7512.66
Total current assets57.0748.9040.1842.9546.2048.5336.69
Total current liabilities29.3027.9224.0526.1722.1625.4136.41
Net working capital27.7720.9816.1316.7824.0423.120.28
Total assets462469470479507504483
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Opening cash4.646.343.964.527.945.779.03
Net cash from operating activities45.4734.7148.5142.432.76(14.08)28.61
Net cash from investing activities(0.93)(3.97)(1.17)(1.86)(0.37)0.379.93
Net cash from financing activities(35.92)(32.44)(44.97)(41.13)(5.81)15.87(41.80)
Net change in cash8.62(1.70)2.38(0.56)(3.42)2.17(3.26)
Closing cash26.7319.1111.2512.4818.7121.816.78
ParticularsFY 2025-26FY 2024-25FY 2023-24FY 2022-23FY 2021-22FY 2020-21FY 2019-20
Growth
Sales growth-0.7%+7.6%+13.5%+91.2%+106.7%-70.3%-
EBITDA growth-5.5%+10.9%+21.6%+305.1%+236.0%-122.0%-
PBT growth+10.9%+118.6%+187.5%+9998.0%+46.4%-256.7%+5.0%
Net income growth+10.5%+182.7%+131.4%+23.2%+48.7%-258.9%-
Revenue CAGR (3Y)+6.6%+32.7%+64.9%+5.5%-17.3%-33.7%+3.8%
EBITDA CAGR (3Y)+8.4%+76.1%-+6.7%-34.6%-+16.8%
Profitability & leverage
Net income margin+10.0%+9.2%+3.6%-12.1%-31.1%-124.5%-10.7%
Return on capital employed+7.0%+7.0%+6.3%0.0%0.0%0.0%0.0%
Return on net worth+5.6%+4.6%+1.9%0.0%0.0%0.0%0.0%
Debt / equity0.570.901.060.910.870.730.66
Long-term debt / equity0.420.540.610.570.590.580.55
Interest cover50.4161.5283.1699.154,532.08-115.65203.34
Efficiency & per share
Fixed asset turnover0.230.240.220.200.100.050.17
Inventory turnover7.848.037.376.823.651.685.72
Debtors turnover21.3429.7233.3032.8022.3611.7327.91
EPS (β‚Ή)5.044.971.97(5.89)(7.94)(15.39)(4.46)
Dividend per share (β‚Ή)0.000.000.000.000.000.000.00
Book value per share (β‚Ή)83.3379.1875.1373.1879.0986.2098.96

Timeline of HB Estate Developers

3 dated milestones of HB Estate Developers across 16 years, from founding to its latest funding, stage changes and deals.

  1. Founded HB Estate Developers is founded.
  2. IPO Lists on the stock exchange (IPO).
  3. Funding First funding round of $32.3M.

Competitors of HB Estate Developers

HB Estate Developers has 10 listed competitors in our database. They include Vingroup, Lendlease, Eiffage, Lodha Group and Sunac, among others.

Company NameDomainFoundedHQ LocationTotal fundingEmployeesDescription
vingroup.net1993Hanoi, Vietnam–347
Real estate development and management services are offered by Vingroup.
lendlease.com1958Melbourne, Australia––
Sustainable project development and maintenance services are provided worldwide.
eiffage.com1920Paris, France–63,164
Eiffage is engaged in construction, energy, and infrastructure concessions.
lodhagroup.com1980Mumbai, India–4,846
Developer of residential and commercial real estate properties
sunac.com.cn2003Shanghai, China–19,271
Residential and commercial real estate development is conducted by Sunac.
vanke.com1984Shenzhen, China–77,708
Real estate properties are developed in over 50 cities.
frasersproperty.com1924Singapore–4,399
Residential and commercial properties are developed and managed across regions.
dlf.in1947Gurugram, India–132
Provider of property and real estate development services
mirvac.com1972Sydney, Australia––
Residential and commercial properties are developed and managed by Mirvac.
cdl.com.sg1963Singapore––
Real estate development and management services are provided globally.
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Detailed competitors of HB Estate Developers

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Web traffic of HB Estate Developers

The website of HB Estate Developers (hbestate.com) receives about 1.3K visits a month.

  • Monthly visits
    1.3K

    ▲ 9% vs previous month

Top companies in Real Estate Developers & Builders

10 companies that operate in the same segment as HB Estate Developers (Real Estate Developers & Builders), ranked by their profile score on The Company Check.

CompanyDescriptionFoundedLocationTotal fundingRevenueEmployees
Sustainable infrastructure solutions in renewable energy are developed and managed.
1931Alcobendas, Comunidad De Madrid, Spain–USD 1.9 M44
Provider of real estate development properties
1997Dubai, Dubai, United Arab EmiratesUSD 98.03 M––
Developer of luxury residential properties
1992Mumbai, Maharashtra, IndiaUSD 158.42 MUSD 55.39 M1,046
Residential and commercial properties are developed by Godrej Properties.
1990Mumbai, Maharashtra, India–USD 546.88 M6,030
Real Estate Investment trust providing investment brokerage services.
1971Reno, Nevada, United States–USD 755.16 M897
Premium residential building development services are provided.
1980Mumbai, Maharashtra, IndiaUSD 152.4 MUSD 658.36 M1,480
Real estate development services are provided in India.
1999Gurugram, Haryana, IndiaUSD 14.83 M––
Real estate development and management services are offered by Vingroup.
1993Hanoi, Vietnam––367
Electricity transmission utility projects are developed and supplied.
2008Mumbai, Maharashtra, IndiaUSD 19.85 MUSD 730.41 M2,300
Commercial property development services are provided in India.
1978Hyderabad, Telangana, India–USD 2.22 B31,410
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Frequently Asked Questions about HB Estate Developers

HB Estate Developers was founded in 1994 and raised its 1st funding round 16 years after it was founded.

HB Estate Developers is headquartered in Gurugram, India. It is registered at Gurugram, Haryana, India.

HB Estate Developers has 260 employees.

The primary company behind HB Estate Developers, Hb Estate Developers Limited, reported revenue of β‚Ή120 Cr for FY 2025, up 8% year on year.

HB Estate Developers was founded in 1994 and is headquartered in Gurugram, India. Residential real estate development is the core focus, with services including property acquisition, construction, and project management. Operations are conducted primarily within the Indian real estate sector, targeting urban areas like the National Capital Region. Housing projects are developed to support residential needs in growing markets.

HB Estate Developers's top competitors include Vingroup, DLF India and Lendlease.

HB Estate Developers offers Commercial Complexes and Residential Complexes.

Yes, HB Estate Developers is publicly traded on BSE under the ticker symbol HBESD.

HB Estate Developers operates through Hb Estate Developers Limited.

The legal entities of HB Estate Developers currently have 7 directors, including Sunil Malik, Anil Goyal, Lalit Bhasin and others.

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