Bhudevi Infra Projects Limited

Consumer Cyclical — Residential Construction · BSE

₹86.49−₹4.55 (−5.00%)

DalalBaazaar Score

30 / 100

🔴 Weak

Verdict

CAUTION

Risk

Very High

Driven by high debt relative to equity, short-term liabilities exceed short-term assets, negative free cash flow.

In simple words: The company is currently losing money, but sales are shrinking. Debt is the main factor to watch.

Decision support, not a buy or sell call.

As of 18 Oct 2026, 7:49 pm

Understanding the Business

Company site ↗

The 60-second version of Bhudevi Infra Projects Limited — what it does, how it earns, and who it competes with, before any of the numbers below.

What does this company do?

Bhudevi Infra Projects Limited, a real estate company, develops residential ventures in Telangana, India. The company was formerly known as Aarv Infratel Limited and changed its name to Bhudevi Infra Projects Limited in September 2022.

IndustryResidential Construction

SectorConsumer Cyclical

Annual revenue₹3 Cr

How does it make money?

Turns over ₹3 Cr a year. Of every ₹100 of sales, about ₹4 reaches shareholders as profit, with ₹5 left at the operating level before interest, tax and depreciation.

Who are its competitors?

The closest listed comparisons in its industry are MARUTI SUZUKI INDIA LTD., TITAN COMPANY LIMITED, TRENT LTD, AVENUE SUPERMARTS LIMITED. These are the companies its valuation and returns are measured against elsewhere in this report.

Compared side by side in Peers ↓

What is its competitive advantage?Little sign of one

Returns on capital of 8.5% are at or below what the capital likely costs. That is the financial pattern of a business competing largely on price, where advantage has to come from execution rather than position.

Peer median ROE25.9%

What has been driving growth?

Growth has come mainly from selling more, rather than from keeping more of each sale. Over 3 years revenue moved +14657% while net margin moved -100% relative to itself. What this cannot tell you is which products, customers or geographies did the work — that lives in the segment disclosures of the annual report.

Revenue effect+14657%

Margin effect-100%

DalalBaazaar Score

30/ 100

Weak

Weighted across six categories. Every point is explained below.

✗ No meaningful P/E — the company is lossmaking

Quality vs. Valuation

Company Quality

34/ 100

Weak

How good the business is, ignoring the share price entirely.

Valuation

19/ 100

Expensive

What you are being asked to pay, ignoring how good the business is.

Weak on business quality and not cheap enough to compensate.

vs. its own history

Not enough price and earnings history

vs. sector peers

Not enough peers with a usable P/E

vs. generic bands

N/A

No P/E — the company is lossmaking

EV/EBITDA

328.0x

PEG

—

What's Good / What's Bad

🟢 What's Going Well1

Consistently profitable
Profitable in every one of the last 4 reported years.

🔴 What Needs Attention0

Nothing stands out as clearly deteriorating on the years of data available.

Red Flags

7 items require attention · 3 high · 4 watch

🔴Debt has risen sharplyFinancial
Total debt is up 244% over 3 years, from ₹3 Cr to ₹9 Cr.
🔴High leverageFinancial
Debt/Equity of 8.13x — earnings must service borrowings before shareholders see anything.
🔴Significant margin compressionFinancial
EBITDA margin has fallen 1643.6 points, from 1648.7% to 5.2%.
🟡Interest coverage is deterioratingFinancial
Cover has fallen from 64.7x to 4.1x.
🟡Free cash flow is negativeFinancial
Free cash flow was -₹2 Cr in the latest year.
🟡Profit is decliningFinancial
Net profit is down 64% over 3 years.
🟡Short-term liquidity is tightFinancial
Current ratio of 0.85 — near-term obligations exceed near-term assets.

Investment Thesis

🟢 Bull CaseWhat could make this work?

Earnings have proved durable
Profitable in every one of the last 4 reported years. Consistency lowers the risk that any single bad year is structural rather than cyclical.

🔴 Bear CaseWhat could go wrong?

Margins are being competed away
EBITDA margin has fallen from 1648.7% to 5.2%. If the trend continues, profit falls even on flat sales — and margin decline rarely reverses quickly.
The debt load needs earnings to hold up
Debt is 61.1x EBITDA. At that level a downturn in earnings turns a manageable balance sheet into a refinancing problem, and lenders get paid before shareholders.
Earnings are hard to forecast
Profit has swung sharply from year to year, so any single year — good or bad — is a weak guide to the next. Cyclical earnings deserve lower multiples for that reason.
Size brings its own risk
Micro Cap businesses are thinly traded, so exits are harder in a falling market and single events move the price more than they would for a larger company.
Several serious flags at once
3 high-severity checks triggered. Individually each has an explanation; together they raise the chance that something structural is wrong rather than a one-off.

🟡 Key Things to WatchMeasurable tripwires, set against where this company stands today

1Revenue growth stays above 321% a year✓ 428.4% CAGR
Latest reported year was -19.6%. The bar is set below the established compounding rate, so ordinary variation does not trip it.
2EBITDA margin holds above 3%✓ 5.2%
Two points below today's level — enough room for noise, tight enough to catch real compression.
3Debt / EBITDA falls below 3x✗ 61.1x
Already stretched, so this is a reduction target rather than a level to hold. Around 3x is where lenders typically start attaching conditions.
4Free cash flow remains positive✗ -₹2 Cr
Profit that never becomes cash eventually stops being profit.
5ROCE stays above 8%✓ 8.5%
Falling returns on capital are usually competition arriving, and show up here before they reach the margin.

Investment Checklist

2 / 11 checks passed

✗ Strong return on equity (ROE ≥ 15%)
✗ Strong return on capital employed (ROCE ≥ 15%)
✗ Healthy net margin (≥ 10%)
✗ Generates positive free cash flow
✗ Manageable leverage (Debt/Equity < 1.0)
✗ Adequate short-term liquidity (Current Ratio ≥ 1.0)
✗ Revenue growing year-over-year
✗ Profit growing year-over-year
✓ Not trading at an extreme valuation (P/E < 40x)
✓ Not buying right at the 52-week high
✗ Short-term technical trend isn't bearish

Price history

Quick Metrics

0 good · 5 neutral · 6 weak

Market Cap

₹40 Cr

Micro Cap

Smaller company — thin liquidity and deep drawdowns are normal here

P/E (Trailing)

Not meaningful

Loss-making

Earnings are negative, so a P/E multiple can't be read here

P/B Ratio

Not available

No data

Source didn't return this field

EPS (TTM)

₹-1.04

Loss-making

Negative earnings per share — the business is losing money

ROE

10.4%

Moderate

Moderate capital efficiency

ROCE

8.5%

Moderate

Moderate return on the capital in the business

Debt/Equity

8.13x

High

High leverage

Revenue Growth (YoY)

-19.6%

Shrinking

Sales are contracting

Profit Growth (YoY)

-65.2%

Falling

Profits are shrinking

Dividend Yield

None

No dividend yield reported — usually means no payout, but verify if one was recently initiated

Free Cash Flow

-₹2 Cr

Cash burning

Spending more cash than the operations bring in

More Metrics

Operating Margin

0.0%

Weak

Thin margins leave little room for error

Net Margin

0.0%

Weak

Very little revenue reaches the bottom line

Current Ratio

0.85

Adequate

Adequate, but no real cushion

52W Range Position

13%

Near low

Near its 52-week low

Technical Snapshot

SMA 20 / SMA 50

75.7 / 108.8

Bearish alignment (short < long)

Price vs SMA 200

Below

Long-term downtrend

RSI (14)

73.9

Overbought zone

Financial Trend (4-Year)

Metric	FY23	FY24	FY25	FY26	3Y CAGR
Revenue	₹0 Cr	₹4 Cr	₹4 Cr	₹3 Cr	+428.4%
EBITDA	₹0 Cr	₹1 Cr	₹0 Cr	₹0 Cr	-22.7%
EBITDA Margin	1648.7%	34.2%	12.7%	5.2%	—
PAT (Net Profit)	₹0 Cr	₹1 Cr	₹0 Cr	₹0 Cr	-28.7%
EPS	₹0.7	₹1.99	₹0.73	₹0.25	-29.1%
ROE	—	136.7%	33.3%	10.4%	—
ROCE	—	185.1%	44.6%	8.5%	—
Total Debt	₹3 Cr	₹1 Cr	₹7 Cr	₹9 Cr	+50.9%
Free Cash Flow	-₹2 Cr	₹3 Cr	-₹7 Cr	-₹2 Cr	—

🟢 Revenue has grown at 428.4% a year over 3 years.

🔴 EBITDA has shrunk at 22.7% a year over 3 years.

🔴 EBITDA Margin has fallen from 1648.7% to 5.2% over 3 years (-1643.6 pts).

🔴 PAT (Net Profit) has shrunk at 28.7% a year over 3 years.

🔴 EPS has shrunk at 29.1% a year over 3 years.

🔴 ROE has fallen from 136.7% to 10.4% over 3 years (-126.3 pts).

🔴 ROCE has fallen from 185.1% to 8.5% over 3 years (-176.6 pts).

🔴 Total Debt has grown at 50.9% a year over 3 years.

Balance Sheet & Cash Flow — FY2026

Total Assets

₹14 Cr

Total Liabilities

₹13 Cr

Cash & Equivalents

₹0 Cr

Operating Cash Flow

-₹2 Cr

Capex

-₹0 Cr

Shareholding (proxy)

Institutional Holding

0.0%

Insider Holding

81.8%

Peer Comparison

Company	P/E	ROE
MARUTI SUZUKI INDIA LTD.	25.2x	13.4%
TITAN COMPANY LIMITED	68.5x	36.7%
TRENT LTD	87.2x	25.9%
AVENUE SUPERMARTS LIMITED	69.9x	12.7%

Recent News

1 mixed5 general

Bhudevi Infra Projects Ltd. Key Financial Ratios – Valuation, Profitability & More

Value Research, 30 Aug

Bhudevi Infra Projects starts Hyderabad residential project

scanx.trade, 15 Aug

Bhudevi Infra Projects Ltd. Peer Comparison – Compare with Others

Value Research, 31 Aug

Bhudevi Infra Projects passes all resolutions at 34th AGM

scanx.trade, 01 Oct

Bhudevi Infra posts ₹11.63 lakh net profit for FY26, down 65%

scanx.trade, 02 Sept

Bhudevi Infra Projects reports standalone net loss of Rs 0.40 crore in the June 2026 quarter

Business Standard, 15 AugResults

🟡Mixed / dependsA results event. The figures on this page update once the new statements reach the data feed, which usually lags the announcement.

Watch Items

Revenue growth is negative (-19.6%) on the latest reported period — check if this is one-off or a trend.
Cross-check against the company's latest quarterly filing / investor presentation before acting.
1 metric couldn't be retrieved for this stock — this is more common for smaller or thinly-covered listings.
RSI is in overbought territory — momentum entries here carry more short-term pullback risk.

DalalBaazaar Thesis

WeakBusiness Quality · Financial Health · Growth · Profitability · Valuation · Risk

Points for each in the Score ↑

Weak on the fundamentals

Poor scores on business quality without a price low enough to compensate. There is no obvious argument for owning this over a stronger company at a similar valuation. 3 high-severity red flags sit above this conclusion and should be read first.

2 of 5 tripwires tripped — Debt / EBITDA falls below 3x; Free cash flow remains positive · see Key things to watch ↑