- POSITIVE
Annual Revenue Justo Realfintech Mar-2026 Annual Revenue is Rs 93 Cr which is growth of 13.7% YoY.
- POSITIVE
Annual Net Profit Justo Realfintech Mar-2026 Annual Net Profit is Rs 20 Cr which is growth of 30.6% YoY.
Justo Realfintech was incorporated on March 29, 2019. The company is a full-service real estate mandate firm based in Maharashtra, operating in Pune, MMR, Nashik, Aurangabad, and Kolhapur. It offers end-to-end solutions in sales strategy, marketing, and execution, leveraging tech-enabled platforms, data-driven insights, and a wide channel partner network to enhance project visibility and customer conversion for developers
| Bidding Dates |
|---|
| 24 Sep 2025 - 26 Sep 2025 |
| Subscription |
|---|
| 3.09x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹240,000 | 2 | 2 | 1000 | 5.0 M | ₹120 - ₹127 | 38.18 % | ₹595.3 M - ₹630.0 M | RHP DOC |
Justo Realfintech IPO SUBSCRIPTION STATUS
26 Sep '25Total3.09x
Retail Individual Investor2x
HNI (NII) Investors6.82x
Qualified Institutional Buyers2.74x
Justo Realfintech IPO overall subscription rate was 3.09 times the total available shares
Justo Realfintech IPO retail subscription rate was 2 times in the retail segment
Justo Realfintech IPO non-institutional investor subscription rate was 6.82 times in the non-institutional investor category
Justo Realfintech IPO Qualified Institutional Bidder subscription rate was 2.74 times the available shares for Qualified Institutional Bidder
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 35% | 15% | 50% |
26 Sep 2025 (Day 3) | 2x | 6.82x | 2.74x |
25 Sep 2025 (Day 2) | 0.45x | 2.14x | 0.74x |
24 Sep 2025 (Day 1) | 0.22x | 1.3x | 0.6x |
Justo Realfintech FINANCIALS
| Period | Revenue from Operations (Rs in crore) | Net Profit (Rs in crore) | Cash Flow from Operations (Rs in crore) | Free Cash Flow (Rs in crore) | Margins |
| FY25 | 81.4 | 15.2 | -9.2 | -12.6 | 26.3% |
| FY24 | 59.4 | 7.0 | 5.0 | 3.0 | 15.9% |
| FY23 | 70.4 | 15.3 | 1.2 | 0.2 | 31.2% |
Justo Realfintech IPO SUBSCRIPTION STATUS DETAILS
Justo Realfintech had 5.0 M shares on offer
Justo Realfintech IPO offer price was in the range ₹120 - ₹127
Justo Realfintech IPO minimum Investment was ₹240000
Justo Realfintech IPO issue size was ₹ 595.3 M - ₹ 630.0 M
Justo Realfintech had a minimum lot size of 1000 Shares per application
Justo Realfintech NUMBER OF SHARES ON OFFER
Total5.0 M
Fresh Issue5.0 M
Offer for Sale0
Post Issue Promoter Holding %38.18 %
Justo Realfintech IPO IMPORTANT DATES
| Issue Open Date | 24 Sep 2025 |
| Issue close Date | 26 Sep 2025 |
| Allotment Date | 29 Sep 2025 |
| Refund Date | 30 Sep 2025 |
| Demat Account Credit Date | 30 Sep 2025 |
| Listing Date | 01 Oct 2025 |
| Listing on Exchange(s) | BSE |
| Justo Realfintech Allotment Status | Exchange/ Registrar |
Justo Realfintech IPO subscription opened on 24 Sep 2025, and closed on 26 Sep 2025
IPO allotment for Justo Realfintech was finalized on Monday, 29 Sep 2025
IPO listing for Justo Realfintech was on BSE on Wednesday, 01 Oct 2025
Justo Realfintech IPO LISTING GAINS
| Issue Price (adjusted) | 127.0 |
| Listing Open Price | 126.9 |
| Listing Close Price | 126.8 |
| Listing Gain% | -0.1% |
| Current Gain% | -29.9% |
Justo Realfintech Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Justo Realfintech Ltd | 89 | 167.4 | 8.7 | 0.3 | 1.8 | 15.2 | 11.8 | 92.8 | 13.7 | 19.2 | 26.3 | 10.2 | 26.3 |
| Knowledge Realty Trust | 113.4 | 50295 | 10.5 | 0.9 | 4146.9 | 15.6 | 222.5 | -34.5 | |||||
| Altius Telecom Infrastructure Trust | 179 | 46593.7 | 5.6 | 1.1 | 19623.7 | 47 | 839.9 | -25 | |||||
| Embassy Office Parks REIT | 434.4 | 41178.4 | 1.6 | 0.7 | 4675.8 | 11.8 | 338.5 | -79.2 | |||||
| Bagmane Prime Office REIT | 108.5 | 36883.2 | 56.5 | 12.4 | 2390.9 | 6.9 | 896.5 | 10.8 | |||||
| National Highways Infra Trust | 170.4 | 33013.6 | 2.9 | 1.3 | 4322.2 | 78.9 | 685.5 | 110.9 |
Annual
Balance Sheet
Ratios
Cash Flow
Justo Realfintech annual results: revenue, profit, P&L, and margins as of Mar 2026 – 11 year history
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Actual
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| Indicator | Graph | CAGR 3 Yrs | Mar '26 | Mar '25 | Mar '24 | Mar '23 | Mar '22 |
|---|---|---|---|---|---|---|---|
9.6% | 92.9 | 81.7 | 59.5 | 70.6 | 30.2 | ||
Operating Exp. Ann. | 9.7% | 64.2 | 60.2 | 49.6 | 48.6 | 24.7 | |
Operating Profit Ann. | 8% | 27.6 | 21.2 | 9.8 | 21.9 | 5.5 | |
OPM Ann. % | -1.4% | 29.70% | 25.93% | 16.44% | 30.97% | 18.06% | |
10.8% | 66.7 | 61.5 | 50.1 | 49.1 | 25.1 | ||
EBITDA Ann. | 9.3% | 28.7 | 21.5 | 9.8 | 22 | 5.5 | |
EBITDA Ann. margin % | -0.2% | 30.90% | 26.36% | 16.55% | 31.13% | 18.08% | |
Interest Ann. | 122.4% | 2.2 | 0.9 | 0.1 | 0.2 | 0.3 | |
Depr. | 0% | 0.3 | 0.4 | 0.4 | 0.3 | 0.1 | |
PBT Ann. | 7.4% | 26.5 | 20.2 | 9.4 | 21.4 | 5.1 | |
Tax Ann. | 4.2% | 6.9 | 5.2 | 2.4 | 6.1 | 1.4 | |
8.6% | 19.6 | 15 | 6.9 | 15.3 | 3.7 | ||
Net Profit Ann. | 8.6% | 19.6 | 15 | 6.9 | 15.3 | 3.7 | |
NPM Ann. % | -0.6% | 21.38% | 18.47% | 11.68% | 21.75% | 12.16% | |
EPS Adj. latest Ann. | 8.2% | 10.4 | 8 | 3.7 | 8.2 | 2 |
*All financials are in INR Cr and price data in INR
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Total Rev. Ann.
1Y CHG
13.7%
2Y CAGR
25%
3Y CAGR
9.6%
Net Profit Ann.
1Y CHG
30.7%
2Y CAGR
68.5%
3Y CAGR
8.6%
Operating Exp. Ann.
1Y CHG
6.6%
2Y CAGR
13.8%
3Y CAGR
9.7%
Justo Realfintech INFORMATION ON IPO ISSUE
About Justo Realfintech
Justo Realfintech was incorporated on March 29, 2019. The company is a full-service real estate mandate firm based in Maharashtra, operating in Pune, MMR, Nashik, Aurangabad, and Kolhapur. It offers end-to-end solutions in sales strategy, marketing, and execution, leveraging tech-enabled platforms, data-driven insights, and a wide channel partner network to enhance project visibility and customer conversion for developers
Object of the Issue
- To meet the long-term working capital requirements
- Funding investment in development of software and technological platform
- Repayment, in full or in part, of certain borrowings availed by the company
- General corporate purposes
Justo Realfintech - PROMOTERS
| Name |
|---|
| Puspamitra Das |
Justo Realfintech - MANAGEMENT & LEADERSHIP
| Name | Designation |
|---|---|
| Puspamitra Das | Chairman & Managing Director |
| Chirag Prasanna Mehta | Non-Executive Director |
| Priyesh Dineshchandra Chheda | Non- Executive Director |
| Vishal Vasantrao Kokadwar | Non- Executive Director |
| Milind Keshav Oak | Independent Director |
| Parool Anoop Seth | Independent Director |
Justo Realfintech Book Running Lead Manager
Vivro Financial Services Private Limited
investors@vivro.net
Justo Realfintech Registrar to the issue
Purva Sharegistry (India) Private Limited
newissue@purvashare.com
Justo Realfintech Strengths
Custom-built integrated technology
The company’s proprietary technology platforms streamline processes and enhance transparency, supporting efficient marketing, sales, and customer engagement. These tools empower real estate developers, channel partners, and internal teams to achieve better project outcomes
Strength
Marketing & sales expertise
The company has a strong track record in real estate marketing and sales, especially in Pune and MMR. Its market expertise and tailored strategies help developers optimise pricing, project sizing, and inventory delivery, driving successful outcomes
Strength
Strong & extensive channel partners
Channel partners are vital intermediaries connecting developers and customers, with the company maintaining a strong network of over 3,400 partners. A dedicated sourcing team fosters personalised relationships, enhancing engagement, retention, and market presence
Strength
Justo Realfintech Risks
Competition
The company faces strong competition in the real estate mandate industry from both established players like Anarock, Xanadu, Guardians, and smaller providers. Ineffective competition could impact pricing, profitability and business growth
Risk
Cost overrun risks
The company’s success relies on effective deployment of proprietary software, but project delays, service interruptions, or cybersecurity breaches could cause revenue loss, increased costs, and reputational damage. Rapid technological changes may also render current technology investments obsolete
Risk
Licenses & approvals
The company’s operations depend on obtaining and maintaining statutory and regulatory licenses, permits, and approvals. Delays or failures in securing these, including trademark and Provident Fund changes, could adversely affect business and operations
Risk
IPO FAQs
The promoter of the company is Puspamitra Das.
The category allocation of qualified institutional buyers is 50.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 35.0%.
The price band of the IPO is Rs 120.0 - 127.0.
The IPO application opens on Sep 24, 2025 and closes on Sep 26, 2025.
The minimum lot size for the IPO is 2000. The maximum lot size for the IPO is 2000.
For all category investors, the minimum application amount for this IPO is Rs. 240,000.0, the maximum value for this IPO is Rs 254,000.0.
This IPO will be allotted on Sep 29, 2025.
The refund will be credited to your account on Sep 30, 2025.
The allotted shares will be credited to your demat on Sep 30, 2025.
Justo Realfintech Ltd.’s shares listed on the stock exchanges on Oct 01, 2025.