Shreejikrupa Project IPO (DRHP filed)
Shreejikrupa Project Limited filed its draft red herring prospectus with SEBI on 5 Oct 2026 for an issue of about ₹500.00 Cr. Price band, lot size and issue dates are announced only after SEBI observations and the RHP filing.
Last updated
- Stage
- DRHP Filed
- DRHP filed
- 5 Oct 2026
- Days since
- 13
- Issue size
- ₹500.00 Cr
- Board
- Mainboard
- Price band
- TBA
Shreejikrupa Project IPO status
Shreejikrupa Project Limited filed its draft red herring prospectus (DRHP) with SEBI on . The issue can open only after SEBI issues its observations and the company files the RHP with the price band.
| DRHP filed | 5 Oct 2026 |
|---|---|
| Days since filing | 13 |
| SEBI observation | Awaited |
| Price band | TBA |
| Issue dates | TBA |
Share reservation by category
| Category | Shares Details |
|---|---|
| Qualified Institutions | Not More Than 50% of the Net Issue |
| Retail Investors | Not Less Than 35% of the Net Issue |
| Non-Institutional | Not Less Than 15% of the Net Issue |
Shreejikrupa Project Limited financials
Between 31 Mar 2025 and 31 Mar 2026, Income rose from ₹864.84 Cr to ₹1,401.88 Cr, and profit after tax rose from ₹66.53 Cr to ₹79.29 Cr. The PAT margin for 31 Mar 2026 was 5.66%.
| Period ended | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Assets | 885.88 | 539.78 | 334.44 |
| Total Income | 1,401.88 | 864.84 | 552.16 |
| Profit After Tax | 79.29 | 66.53 | 39.40 |
| EBITDA | 123.50 | 89.91 | 54.65 |
| Net Worth | 299.23 | 220.12 | 153.67 |
| Reserve & Surplus | 260.77 | 219.89 | 153.52 |
| Total Borrowings | 259.70 | 76.22 | 45.72 |
₹ in crore, as stated in the prospectus.
Key performance indicators
| KPI | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| ROE % | 26.53 | 30.19 | 25.64 |
| ROCE % | 21.66 | 29.66 | 26.73 |
| Debt / Equity | 0.67 | 0.32 | 0.24 |
| RoNW % | 30.55 | 35.57 | 29.57 |
| Pat Margin % | 5.73 | 7.80 | 7.26 |
Peer comparison
| Company | Face value | P/E | EPS (basic) | EPS (diluted) | RoNW | NAV |
|---|---|---|---|---|---|---|
| Shreejikrupa Project Limited | 5 | — | 10.37 | 10.37 | 30.55% | 39.10 |
| NBCC (India) Limited | 1 | 30.92 | 2.67 | 2.67 | 27.02% | 11.18 |
| NCC Limited | 2 | 12.35 | 10.76 | 10.76 | 9.53% | 125.33 |
| Ahluwalia Contracts (India) Limited | 2 | 14.77 | 39.69 | 39.69 | 13.78% | 307.50 |
| PSP Projects Limited | 10 | 58.01 | 14.00 | 14.00 | 4.49% | 318.84 |
| Capacit'e Infraprojects Limited | 10 | 8.38 | 22.82 | 22.82 | 10.65% | 225.62 |
| CemIndia Projects Limited | 1 | 36.15 | 34.79 | 34.79 | 28.24% | 139.68 |
| Vascon Engineers Limited | 10 | 16.15 | 2.15 | 2.15 | 4.36% | 49.58 |
Notes
1. NAV is computed as the Total Equity (sum of equity share capital, other equity) divided by the outstanding number of shares as per calculation of Diluted EPS in accordance with IND AS 33 as on March 31, 2026.
2. P/E Ratio has been computed based on the closing market price of equity shares on September 25, 2026 on www.bseindia.com, divided by the Diluted EPS as on March 31, 2026.
3. RoNW is computed as net profit after tax attributable to owners of the Company divided by average net worth. Net worth has been computed as the aggregate of share capital and reserves and surplus. In case the net worth is negative for a particular year, the same has not been considered.
4. Net Worth represents the aggregate value of the paid-up share capital and all reserves created out of the profits and securities premium account and debit or credit balance of profit and loss account, after deducting the aggregate value of the accumulated losses, deferred expenditure and miscellaneous expenditure not written off, but does not include reserves created out of revaluation of assets, write-back of depreciation and amalgamation.
From the prospectus. P/E is shown as — when earnings are zero or negative, or not reported for the issuer before listing.
Objectives
The company intends to allocate the net proceeds from the offering to the following objectives.
| Sr | Objective | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Funding capital requirements towards purchase and installation of equipment and machinery | 13.93 |
| 2 | Funding capital requirements towards scaffolding | 37.50 |
| 3 | Part funding incremental working capital requirements of the company | 250.00 |
| 4 | General corporate purposes | — |
| Total | 301.43 |
About Shreejikrupa Project Limited
Incorporated in 2006, Shreejikrupa Project Ltd. is an infrastructure development and construction company engaged in the execution of a diverse range of projects across academic and healthcare infrastructure, residential and commercial buildings, infrastructure works and specialised construction activities. The Company primarily caters to central and state government departments, public sector undertakings (PSUs), municipal corporations, public works departments and other government-linked entities.
The Company's operations are broadly diversified across the following segments:
Academic and Healthcare Infrastructure: The Company undertakes the construction of hospitals, medical colleges, academic institutions and hostel facilities. As of June 30, 2026, it had successfully completed 35 projects in this segment.
Residential and Commercial Construction: The Company develops residential projects for state housing boards and municipal corporations, as well as office and commercial buildings for various government authorities. As of June 30, 2026, it had completed 43 projects in this segment.
Infrastructure Works: This segment includes the construction and development of railway stations, roads and industrial facilities for government and government-related organisations. As of June 30, 2026, the Company had completed 22 projects under this segment.
Specialised Construction and Other Works: The Company undertakes a range of specialised projects, including auditoriums, convention centres, sports stadiums, visitor amenities, electrification works and other ancillary infrastructure projects. As of June 30, 2026, it had completed 27 projects in this category.
As of June 30, 2026, the Company's overall project portfolio comprised 228 infrastructure projects across 11 states and two union territories in India, serving both government and private-sector clients. Of these, 127 projects had been completed, while 101 projects were ongoing. The Company also had a robust order book valued at ₹37,007.96 million as of the same date, providing strong revenue visibility and supporting its future growth prospects.
As of June 30, 2026, the Company had 656 permanent employees supporting its project execution and operational activities.
Promoters
Karsan Bachu Varsani
Kevin Karsan Varsani
Sanjay Kumar Varsani
Smit Kumanbhai Varsani
Kumanlal Bachubhai Varsani
Girishbhai Bachubhai Varsani
Contact details
Shreejikrupa Project Ltd.
303, 3rd Floor, Iscon Mall, Opp.
Imperial Heights 150 Ft. Ring Road,
Mota Mava Rajkot, Gujarat, 360005
Tel: +91 77710 06030
Email: cs@skpl.co
Website: https://skpl.co/
Shreejikrupa Project IPO FAQs
- Has Shreejikrupa Project IPO filed for an IPO?
- Shreejikrupa Project Limited filed its draft red herring prospectus (DRHP) with SEBI on 5 Oct 2026.
- When will the Shreejikrupa Project IPO open?
- Issue dates are announced after SEBI observations and the RHP filing. They are not available yet.
- What is the Shreejikrupa Project IPO price band?
- The price band is announced a few days before the issue opens. It is not available yet.
- What is the Shreejikrupa Project IPO size?
- The DRHP proposes an issue of about ₹500.00 Crore. The final size can change in the RHP.
Details are from the draft prospectus and can change in the final RHP. This is not investment advice.