Synopsis: Micro-Cap company shares rose 5% after it received a Commencement Certificate for “Shraddha Paradise Enclave” in Mulund West, with ~1.3 lakh sq ft residential and 20,000 sq ft commercial space, expected to generate ₹420–450 crore in 3 years.
The shares of the Micro-Cap company, specialising in real estate development in Mumbai, focusing on constructing and redeveloping residential buildings, high-rise towers, and townships, are in the spotlight upon bagging the Second Commencement Certificate in 6 Days and targeting ~Rs. 600 Crores Revenue.
With a market capitalization of Rs. 666.82 Crores in the day’s trade, the shares of Shraddha Prime Projects Ltd jumped upto 5.1 percent after making a high of Rs. 171.50 compared to its previous closing price of Rs. 163.15.
What Happened
Shraddha Prime Projects Ltd has announced that it has received the Commencement Certificate (CC) for its upcoming redevelopment project “Shraddha Paradise Enclave,” located at Swapna Nagari, Nirmal Nagar–Agrawal Road, Village Mulund (West), Mumbai, within the jurisdiction of the Brihanmumbai Municipal Corporation. The project involves the redevelopment of Himgiri CHS in the Mulund West micro-market of Mumbai.
The project comprises approximately 1,30,000 sq. ft. of RERA carpet area for residential units and about 20,000 sq. ft. for commercial space. It is positioned as a significant redevelopment initiative, adding to the company’s portfolio in Mumbai’s suburban real estate segment.
The company has indicated an estimated revenue potential of around Rs. 420–450 crore over the next three years (which is around 188 percent more than FY25 revenue of Rs. 156 crores) from this development, reinforcing its growth focus in residential and mixed-use redevelopment projects in Mulund West.
Commenting on this development, Mr Sudhir Mehta, Managing Director, Shraddha Prime Projects Ltd, said: “We are glad to announce that we have received the Commencement Certificate for the Shraddha Paradise Enclave project. This project is in line with our strategy to capitalise on the burgeoning redevelopment opportunities in Mumbai and further solidifies our presence in major micro-markets within Mumbai. Our portfolio includes a diverse range of living spaces, from premium residences to affordable housing, including slum redevelopment. Looking ahead, we shall continue to leverage our expertise to support sustainable growth.”
Shraddha Prime Projects Limited has also previously announced that it has received the Commencement Certificate (CC) for its new redevelopment project, “Shraddha Phoenix,” located at Mulund (East), Mumbai. The project involves the redevelopment of Siddhivinayak Welfare SRA CHS and Uttar Bhartiya Residents SRA CHS, with a total RERA carpet area of approximately 75,355.64 sq. ft. It is expected to generate around Rs. 150 crore in revenue over the next three years.
Commenting on the development, Mr Sudhir Mehta, Managing Director, Shraddha Prime Projects Ltd, said: “We are pleased to receive the Commencement Certificate for our Shraddha Phoenix project. This milestone strengthens our focus on redevelopment opportunities in Mumbai and enhances our presence in key micro-markets such as Mulund. We continue to offer a diverse range of homes, from high-end residences to affordable and slum redevelopment projects. Looking ahead, we are confident in sustaining this growth momentum.”
Financials & Others
The company’s revenue rose by 195 percent from Rs. 44 crores in December 2024 to Rs. 129 crores in December 2025. Meanwhile, Net profit rose from Rs. 9 crores to Rs. 13 crores in the same period.
It has a strong profitability profile, with ROCE at 16.3 percent and ROE at 36.9 percent. It also demonstrates a solid track record of value creation, with an average ROE of 32.9 percent over the last three years, indicating efficient use of shareholder capital.
Shraddha Prime Projects Ltd is a Mumbai-based real estate developer, specialising in residential redevelopments, slum rehabilitation (SRA), and premium housing projects across the Mumbai Metropolitan Region (MMR).
It focuses on transforming existing housing societies and slum rehabilitation (SRA) schemes into modern residential developments, mainly across key suburban micro-markets of Mumbai, such as Mulund and surrounding areas.
The company has built its presence in the affordable and mid-income housing segment while also undertaking selective high-value redevelopment projects. With an emphasis on strategic urban locations and redevelopment opportunities, Shraddha Prime Projects aims to expand its portfolio and strengthen its position in the evolving real estate market.
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