Runwal Enterprises Limited

Runwal Enterprises Limited is a premier real estate development company in India, established in February 2016. Headquartered in Mumbai, the company has grown into a recognized brand across the urban landscape, delivering end-to-end real estate solutions across residential, commercial, retail, and educational segments. From affordable and mid-income housing to luxury residences, modern shopping arcades, integrated malls, and institutional spaces, the company maintains an active presence across the entire spectrum of urban development.

Market Leadership & Strategic Regional Presence

Over the years, Runwal Enterprises Limited has built a dominant footprint in the Mumbai Metropolitan Region (MMR). According to independent industry research by JLL (covering the period from January 2023 to March 31, 2026), the company holds prominent market positions across key urban micro-markets:

• Overall Mumbai Market: Ranked 3rd in Mumbai in terms of overall new launches and sales, commanding approximate market shares of 2.33% in new launches and 2.46% in sales.

• Eastern Suburbs of Mumbai: Ranked 1st in overall sales with an approximate market share of 7.88%, and 4th in new launches with a market share of approximately 2.89%.

• Kalyan-Dombivli Region: Ranked 1st in new launches with an approximate market share of 11.41%, and 2nd in sales with a market share of 6.33%.

Project Portfolio & Pipeline

As of March 31, 2026, Runwal Enterprises Limited manages a large, diversified project pipeline designed for sustained growth and long-term value creation:

• 19 Completed Projects: Fully executed and delivered residential, commercial, and retail developments.

• 28 Ongoing Projects: Active construction projects representing high-value residential and mixed-use real estate.

• 33 Upcoming Projects: Strategic developments in the planning and pre-launch phases across key growth corridors.

The company’s portfolio encompasses large-scale integrated townships that seamlessly incorporate schools, health centers, retail outlets, shopping malls, and community recreational hubs into self-sustained residential ecosystems.

Business Model & In-House Execution Capabilities

Runwal Enterprises Limited operates through a balanced, risk-mitigated business structure that combines direct greenfield land acquisitions with asset-light development models:

1. Asset-Light Development Strategy: Extensive use of Joint Development Agreements (JDAs) and joint venture structures to optimize capital efficiency, lower land acquisition risks, and accelerate return on equity.

2. End-to-End In-House Expertise: The company maintains full operational control over project lifecycles through specialized in-house divisions:

   • Architectural Design & Master Planning

   • Engineering & Construction Management

   • Strategic Contracts & Procurement

   • Sales, Brand Marketing, & Channel Distribution

   • Post-Sales Services & Dedicated Customer Care

3. Strategic Partnerships: Collaborations with leading domestic and international design, architecture, and engineering firms to ensure high aesthetic and structural standards.

4. Premium Pricing & Pre-Sales Velocity: Demonstrated capability to command premium pricing relative to local benchmarks and maintain steady sales momentum throughout project construction phases.

Organizational Capital & Human Resources

As of March 31, 2026, Runwal Enterprises Limited, along with its corporate subsidiaries, employs a permanent workforce of 1,181 professionals. Key functional areas include:

• Construction Management & Site Engineering

• Sales, Marketing, & Business Development

• Customer Relationship Management & Care

• Accounts, Finance, & Project Billing

• Contracts, Legal, & Vendor Procurement

Key Competitive Strengths

• Established Brand Equity: Well-known brand name with strong consumer recall and market recognition across the Mumbai Metropolitan Region.

• Multi-Segment Real Estate Capabilities: Balanced exposure across residential (affordable, mid-income, luxury), commercial office space, retail malls, and integrated townships.

• Robust Project Pipeline: 61 ongoing and upcoming developments providing high revenue visibility over the medium to long term.

• Integrated Township Expertise: Proven capability in master-planning and executing multi-acre urban townships with embedded civic and commercial infrastructure.

• Execution & In-House Integration: Turnkey execution framework backed by centralized procurement, in-house technical teams, and external architectural tie-ups.

• Focus on Sustainable Development: Integration of green building practices, energy-efficient designs, and sustainable environmental planning across developments.

• Experienced Leadership: Promoted and managed by industry veterans led by Promoter Subodh Subhash Runwal, supported by qualified executive management and financial institutions.

Runwal Enterprises Limited IPO Summary & Complete Information

Runwal Enterprises Limited completely fresh issue (₹499.83 Crore) IPO subscription period ranges from 25 September 2026 to 29 September 2026.

COMPANY DRHP

1. Key Highlights & Important Dates

2. Category Bidding & Lot Size Details

Retail investors must bid for a minimum of 1 lot (49 shares) at ₹14,945 (upper price band ₹305).

3. Share Quota Reservation

• Qualified Institutional Buyers (QIB): Not more than 50% of the Net Issue

• Retail Individual Investors (RII): Not less than 35% of the Net Issue

• Non-Institutional Investors (NII/HNI): Not less than 15% of the Net Issue

4. Company Overview

Incorporated in 2016, Runwal Enterprises Limited is a prominent Mumbai-based real estate developer with projects across affordable, mid-income, and luxury residential segments, as well as commercial spaces, retail malls, and educational institutions.

• Market Standing: Holds significant market share in Mumbai submarkets—ranking 1st in residential sales in the Eastern Suburbs and leading new project launches in the Kalyan-Dombivli area.

• Portfolio Footprint: As of March 31, 2026, the company manages 19 completed, 28 ongoing, and 33 upcoming projects.

• Development Models: Utilizes both greenfield developments and asset-light models, such as Joint Development Agreements (JDAs).

5. Financial Highlights (Restated Consolidated)

Amounts in ₹ Crore:

Key Valuation Metrics:

• Post-Issue P/E Ratio: ~24.26x

• Post-Issue Market Cap: ₹4,507.44 Cr (at upper cap of ₹305)

• Debt to Equity: 3.29

• Return on Net Worth (RoNW): 27.24%

6. Utilization of Net IPO Proceeds

The net funds raised from this fresh issue (totaling ₹325 Crore targeted usage) will be utilized as follows:

1. Borrowings Repayment: Repayment/pre-payment of company’s outstanding loans (₹100 Cr).

2. Subsidiary Debt Clearance: Investment in material subsidiaries (Susneh Infrapark, Runwal Residency, and Evie Real Estate) for partial or full prepayment of debt (₹225 Cr).

3. Growth & Corporate Activities: Strategic land acquisitions, new real estate project developments, and general corporate purposes.

7. Lead Managers & Registrar

• Book Running Lead Managers: ICICI Securities Ltd. & Jefferies India Pvt. Ltd

• Registrar: MUFG Intime India Pvt. Ltd. (Phone: 022-49186000 / Email: runwalenterprises.ipo@in.mpms.mufg.com)

How to Apply via UPI Broker Apps (e.g., Zerodha / Groww)

1. Log into your trading platform and navigate to the IPO / Bidding tab.

2. Select Runwal Enterprises IPO and enter your Virtual Payment Address (UPI ID).

3. Select Cut-Off Price (₹305) and specify the number of lots (e.g., 1 Lot = 49 shares).

4. Approve the mandate request in your UPI application (BHIM, Google Pay, PhonePe, Paytm) before 5:00 PM on September 29, 2026.