Pranav Constructions IPO

 Pranav Constructions IPO — Quick Take



Reviewed the RHP. Key points:

• Revenue: ₹447 Cr → ₹762 Cr (FY24–FY26)
• Profit: ₹39.6 Cr → ₹71.3 Cr
• EBITDA margin: ~17%
• Focus: Mumbai redevelopment

Fresh issue of up to ₹315.6 Cr, mainly for project funding and debt repayment. OFS is up to 28.57 lakh shares.

What I’m watching:
Profit growth is encouraging, but cash conversion needs improvement. Debt, working capital and governance also need monitoring.

My view: WATCH / CONDITIONAL

The business has an attractive opportunity, but I’d like to see better cash generation and greater comfort on governance before taking a long-term view.

Key question:
Is the reported profit translating into sustainable cash flow?

RHP-based personal analysis. Not investment advice.

#PranavConstructions #IPO #IPOAnalysis

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