Date: November 06, 2026

KMP / Board / Auditor Changes

Not Specified

Dividend Declaration or Non-Declaration

Not Specified

Board Meeting Outcomes

Not Specified

Financial Results (Standalone & Consolidated)

Consolidated Financial Position H1 FY27:

  • Consolidated Networth: ₹1340.45 crore
  • Debt/Equity Ratio: 0.22
  • Consolidated Value of Investments at Market Value: ₹371.34 crore (H1 FY27) vs ₹285.35 crore (FY26)
  • Listed Shares: ₹118.07 crore (H1 FY27) vs ₹67.38 crore (FY26)
  • Unlisted Shares: ₹120.44 crore (H1 FY27) vs ₹128.39 crore (FY26)
  • PMS/AIF: ₹3.16 crore (H1 FY27) vs ₹2.55 crore (FY26)
  • Liquid Mutual Funds: ₹129.47 crore (H1 FY27) vs ₹86.82 crore (FY26)
  • Debt Securities: ₹0.20 crore (H1 FY27) vs ₹0.21 crore (FY26)
  • Consolidated Value of Investments in Real Estate at Cost: ₹1045.99 crore (H1 FY27) vs ₹998.30 crore (FY26)
  • Properties: ₹95.10 crore (H1 FY27) vs ₹50.97 crore (FY26) with total value ₹822.22 crore (H1 FY27) vs ₹824.68 crore (FY26)
  • Associates: ₹128.67 crore (H1 FY27) vs ₹122.65 crore (FY26)
  • Consolidated ICD/Loan Book: ₹110.60 crore (H1 FY27) vs ₹244.83 crore (FY26)
  • ICD/Loans (Net off debt): ₹55.36 crore (H1 FY27) vs ₹115.81 crore (FY26)
  • Cash & Cash Equivalents: ₹55.24 crore (H1 FY27) vs ₹129.02 crore (FY26)

Consolidated Segment Results H1 FY27:

  • Real Estate & Related Activities: Loss of ₹7.80 crore (H1 FY27) vs Profit of ₹8.65 crore (FY26)
  • Investing, Broking & Financial Activities: Profit of ₹32.20 crore (H1 FY27) vs ₹64.16 crore (FY26)
  • Unallocable/Other Expenses: Loss of ₹4.08 crore (H1 FY27) vs Loss of ₹8.28 crore (FY26)
  • Share of Profit/(Loss) from Associates: Profit of ₹6.45 crore (H1 FY27) vs ₹0.46 crore (FY26)
  • Profit Before Tax: ₹26.77 crore (H1 FY27) vs ₹64.99 crore (FY26)

Disinvestment / Strategic Actions

Previous Investments Exited:

  • Vascon Engineers: Strategic investment through preferential issue in September 2021, value unlocked in 2024
  • SAI Consulting Engineers: Sold to Systra (French government company)
  • Phoenix Marketcity: Sold stakes in Pune, Bangalore, Lucknow properties in 2017; consolidated holding in Chennai sold in 2022
  • Link Intime India: Entire stake sold in 2011
  • Inga Capital (ITI Capital Ltd): Value unlocked through disinvestment
  • Fortune Financial Services: Exited promoter group

Company Overview:

  • RBI-registered Non-Banking Finance Company headquartered in Mumbai
  • Operates under two primary verticals: Real Estate and Financial Services/Credit
  • Diversified across asset classes and geographies

Business Model Approach:

  • Asset-light approach focused on optimizing upfront capital expenditure
  • Partnerships through JDAs & Project Management with strong partners
  • Project credit provision for development partnerships

Current Investments:

  • Crest Finserv Limited (100% owned): Inter-dealer broker in wholesale debt markets, foreign exchange markets, interest rate swaps and currency options
  • Crest Capital And Investment Limited: Multi-strategy investment firm
  • Two Brothers Organic Farms (TBOF): Over 11% stake in organic agri-food company
  • Tamarind Global Services: 22.39% stake in destination and event management company

Ongoing Real Estate Projects (8 projects):

1. Crest 4 Pali Hill: Residential redevelopment, Pali Hill Bandra, GDV ₹300cr, 100% economic interest, expected completion Q2 FY29

2. Crest Saidale: Residential redevelopment, Breach Candy, GDV ₹1300cr, 76% economic interest, expected completion FY30

3. Crest Golfshire: Mixed-use development, Chembur, GDV ₹1850cr, 15% of revenue economic interest, expected completion FY30

4. Crest Oaks: Residential redevelopment, Union Park Pali Hill, GDV ₹100cr, 100% economic interest, expected completion Q4 FY28

5. Crest UNO: Township + residential tower, Raipur, GDV ₹290cr, 50% economic interest, expected completion Q2 FY29

6. Crest Greens Phase 2 & 3: Township & residential, Raipur, 50% economic interest

7. Project Hospital: PMC contract, Worli, ₹30cr contract value, 100% economic interest, expected completion FY29

8. Crest EZY - Oshiwara: Build to rent residential assets, Oshiwara, 100% economic interest, expected completion FY29

Upcoming Projects (5 projects in planning):

1. Crest Legacy: Residential & commercial redevelopment, Dadar, GDV ₹2200cr, 100% economic interest, estimated start Q4 FY27

2. Crest Aspen: Residential development, Andheri, GDV ₹370cr, 9% of revenue economic interest, estimated start Q4 FY27

3. Project Lotus: Residential development, Carter Road, GDV ₹2200cr, 50% of DM fees economic interest

4. Project Lalbaug: Residential + commercial, Parel

5. Project Central: Residential + commercial, Parel

Recently Completed Projects:

  • Crest Link: Commercial & residential redevelopment, Khar Mumbai, 36,000 sq.ft, received Full OC
  • Crest Parkview: Residential redevelopment, Bandra, 13,600 sq.ft
  • One National Park: Commercial office development, Chennai, 5,94,000 sq.ft leasable area, Full OC received
  • Phoenix MarketCity: Commercial, Chennai, 15 lakh sq.ft
  • Palladium: Commercial, Chennai, 2.5 lakh sq.ft
  • Crest Greens Phase 1: Township, Raipur, 30 acres
  • One Crest: Residential, Chennai, 1.26 lakh sq.ft
  • Crest Towers: Residential, Chennai, 5.1 lakh sq.ft
  • Crest Mukta: Commercial, Andheri, 1 lakh sq.ft
  • Crest Park: Residential plotted development, Jaipur, 1.91 sq.ft

Other Operational / Legal / Strategic Disclosures

Board of Directors:

  • Mr. Vijay Choraria - Managing Director: Chartered Accountant, over 35 years experience
  • Mr. Mohindar Kumar - Chairman: Over 35 years experience in RBI Regulations, 32 years with RBI
  • Mr. Sivaramakrishnan Iyer: Chartered Accountant, specializes in Corporate Finance
  • Ms. Neha Mehta: Practicing advocate of Bombay High Court for over 15 years
  • Mr. Jagdish Mohan Kirpalani: Nearly four decades of leadership experience
  • Ms. Sheetal Kapadia: MBA and CFA charterholder, 20 years in financial services
  • Mr. Rajeev Sharma: Chartered Accountant, Company Secretary, Cost & Works Accountant

Disclaimer:

Contains forward-looking statements subject to risks including earnings fluctuations, growth management, competition, political and economic conditions in India, regulatory changes, and interest/fiscal policies.