Landmark Property Development Company Limited

Real Estate — Real Estate Services · NSE

₹6.28+₹0.07 (+1.13%)

DalalBaazaar Score

74 / 100

🟢 Good

Verdict

REASONABLE

Risk

Moderate

Driven by micro-cap size, which brings thin liquidity.

In simple words: The business is earning a fairly low return on the money invested in it, with both sales and profits growing well. Nothing obvious stands out as stretched — the usual checks on business quality and management still apply.

Decision support, not a buy or sell call.

As of 18 Oct 2026, 8:27 pm

Understanding the Business

Company site ↗

The 60-second version of Landmark Property Development Company Limited — what it does, how it earns, and who it competes with, before any of the numbers below.

What does this company do?

Landmark Property Development Company Limited engages in the real estate development business in India. It also offers advisory and consultancy services.

IndustryReal Estate Services

SectorReal Estate

Annual revenue₹7 Cr

How does it make money?

Turns over ₹7 Cr a year. Of every ₹100 of sales, about ₹20 reaches shareholders as profit, with ₹15 left at the operating level before interest, tax and depreciation.

Who are its competitors?

The closest listed comparisons in its industry are DLF LIMITED, GODREJ PROPERTIES LTD, OBEROI REALTY 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 2.8% 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 ROE10.3%

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 +1707% while net margin moved -101% 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+1707%

Margin effect-101%

DalalBaazaar Score

74/ 100

Good

Weighted across six categories. Every point is explained below.

✓ Beta of 0.15 — historically steadier than the index
✗ Micro Cap: thinner liquidity and sharper drawdowns are normal
✗ Profits have swung sharply from year to year — earnings are hard to forecast

Quality vs. Valuation

Company Quality

78/ 100

Good

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

Valuation

66/ 100

Fair

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

A reasonable business at a reasonable price — neither the quality nor the valuation stands out in either direction.

Historical Valuation

Current P/E

9.8x

Sector Median

30.2x

median of 3 sector peers

🟢Against its sector it trades 67% below the peer median of 30.2x.

vs. its own history

Not enough price and earnings history

vs. sector peers

Cheap

30.2x median of 3 peers · -67%

vs. generic bands

Cheap

Below 15x

EV/EBITDA

73.6x

PEG

—

What's Good / What's Bad

🟢 What's Going Well4

Margins are improving
EBITDA margin is up from -1830.5% to 15.4% over 3 years.
Cash generation is improving
Free cash flow is up 2618% over 3 years.
Return on equity is rising
ROE has improved from -11.8% to 3.6%.
Return on capital is rising
ROCE has improved from -13.3% to 2.8%.

🔴 What Needs Attention0

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

Red Flags

No automated checks triggered

None of the automated financial checks below were triggered on the years of data available. That is not the same as a clean bill of health — see what could not be checked.

Investment Thesis

🟢 Bull CaseWhat could make this work?

Margin expansion has further to run
EBITDA margin has risen from -1830.5% to 15.4%. If that holds, profit compounds faster than sales and today's multiple looks cheaper in hindsight than it does now.
Cheaper than its peers
It trades 67% below the sector median. Either the market sees a problem the numbers do not show, or the discount closes.

🔴 Bear CaseWhat could go wrong?

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.

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

1Revenue growth stays above 122% a year✓ 162.4% CAGR
Latest reported year was 526.5%. The bar is set below the established compounding rate, so ordinary variation does not trip it.
2EBITDA margin holds above 13%✓ 15.4%
Two points below today's level — enough room for noise, tight enough to catch real compression.
3Free cash flow remains positive✓ ₹7 Cr
Profit that never becomes cash eventually stops being profit.
4ROCE stays above 8%✗ 2.8%
Falling returns on capital are usually competition arriving, and show up here before they reach the margin.

Investment Checklist

7 / 10 checks passed

✗ Strong return on equity (ROE ≥ 15%)
✗ Strong return on capital employed (ROCE ≥ 15%)
✓ Healthy net margin (≥ 10%)
✓ Generates positive free cash flow
✓ 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

5 good · 4 neutral · 2 weak

Market Cap

₹84 Cr

Micro Cap

Smaller company — thin liquidity and deep drawdowns are normal here

P/E (Trailing)

9.8x

Cheap

Cheap against the generic band

P/B Ratio

1.94x

Fair

Moderate premium to the company's book value

EPS (TTM)

₹0.64

Profitable

Profitable on a per-share basis

ROE

3.6%

Weak

Weak capital efficiency

ROCE

2.8%

Weak

Low return on total capital employed

Debt/Equity

Not available

No data

Source didn't return this field

Revenue Growth (YoY)

526.5%

Healthy

Healthy top-line growth

Profit Growth (YoY)

140.2%

Healthy

Profits growing at a healthy clip

Dividend Yield

None

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

Free Cash Flow

₹7 Cr

Cash generative

Generates cash even after funding its capex

More Metrics

Operating Margin

628.3%

Good

Healthy core-business profitability

Net Margin

98.7%

Good

Strong bottom-line conversion

Current Ratio

25.89

Comfortable

Healthy short-term liquidity

Beta (vs Nifty)

0.15

Defensive

Steadier than the market

52W Range Position

25%

Mid-range

Technical Snapshot

SMA 20 / SMA 50

6.4 / 6.6

Bearish alignment (short < long)

Price vs SMA 200

Below

Long-term downtrend

RSI (14)

35.5

Neutral momentum

Financial Trend (4-Year)

Metric	FY23	FY24	FY25	FY26	3Y CAGR
Revenue	₹0 Cr	₹1 Cr	₹1 Cr	₹7 Cr	+162.4%
EBITDA	-₹7 Cr	-₹12 Cr	-₹4 Cr	₹1 Cr	—
EBITDA Margin	-1830.5%	-895.3%	-354.3%	15.4%	—
PAT (Net Profit)	-₹7 Cr	-₹12 Cr	-₹4 Cr	₹1 Cr	—
EPS	₹-0.49	₹-0.87	₹-0.28	₹0.11	—
ROE	-11.8%	-26.8%	-9.3%	3.6%	—
ROCE	-13.3%	-27.2%	-10.4%	2.8%	—
Free Cash Flow	₹0 Cr	₹1 Cr	-₹0 Cr	₹7 Cr	+200.6%

🟢 Revenue has grown at 162.4% a year over 3 years.

🟢 EBITDA has turned positive, from -₹7 Cr to ₹1 Cr.

🟢 EBITDA Margin has risen from -1830.5% to 15.4% over 3 years (+1845.9 pts).

🟢 PAT (Net Profit) has turned positive, from -₹7 Cr to ₹1 Cr.

🟢 EPS has turned positive, from ₹-0.49 to ₹0.11.

🟢 ROE has risen from -11.8% to 3.6% over 3 years (+15.4 pts).

🟢 ROCE has risen from -13.3% to 2.8% over 3 years (+16.1 pts).

🟢 Free Cash Flow has grown at 200.6% a year over 3 years.

Balance Sheet & Cash Flow — FY2026

Total Assets

₹43 Cr

Total Liabilities

₹2 Cr

Total Debt

—

Cash & Equivalents

₹1 Cr

Operating Cash Flow

₹7 Cr

Capex

—

Shareholding (proxy)

Institutional Holding

0.0%

Insider Holding

66.4%

Corporate Actions

Ex-Dividend Date

19 Sept 2014

Peer Comparison

Company	P/E	ROE
DLF LIMITED	36.6x	10.3%
GODREJ PROPERTIES LTD	30.2x	8.4%
OBEROI REALTY LIMITED	23.5x	14.7%

Recent News

2 mixed4 general

Landmark Property Development (LPDC.NS) Edges Up 1.31% to ₹6.17, Tests Upper End of Trading Range - Common Gap

https://www.siam.in/, 13 Oct

Landmark Property Dev vs Nifty 50: Returns Compared

Univest, 01 Oct

Landmark Property Development (NSE:LPDC): What Does the Q2 FY27 Depository Compliance Certificate Mean?

Kalkine India, 13 OctResults

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

Landmark Property Development (LPDC.NS) Eases 1.46% to ₹6.09, Testing Support Near ₹5.79 - Triangle Correction

siam.in, 13 Oct

Landmark Property Development Company reports standalone net profit of Rs 6.96 crore in the June 2026 quarter

Business Standard, 13 AugResults

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

Landmark Property turns profitable in FY26, seeks Eterna refund extension

scanx.trade, 20 Aug

Watch Items

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.

DalalBaazaar Thesis

StrongBusiness Quality · Financial Health · Growth · Profitability · Valuation

WeakRisk

Points for each in the Score ↑

Good business at a fair price

A sound business at a reasonable valuation. Suitable for a long-term holding, with the valuation and the direction of margins worth watching rather than the business itself.

1 of 4 tripwires tripped — ROCE stays above 8% · see Key things to watch ↑