Mukul Agrawal stock jumps 6% after reporting 675% profit growth in Q3

Synopsis: Shares of Valor Estate Ltd surged 6% after the company reported a 675% YoY jump in Q3 FY26 PAT, largely driven by land revenue recognition from the BMC PAP project under Ind AS 115. Revenue grew 60% YoY. However, earnings were boosted by one-time accounting recognition during the quarter.

The shares of this company, which is engaged primarily in the business of real estate construction, development and other related activities, are mostly based in and around Mumbai and are under various stages of planning and construction. It had its share in the news today following the company reporting robust Q3 results with more than 600% PAT growth. 

With the market cap of Rs 7,060 crore, the shares of Valor Estate Ltd have gained about 6% and reached a high at Rs 137, compared to their previous day’s closing price of Rs 129.05. The shares are trading at a PE of 129, whereas its industry PE is at 31.7. 

As per the shareholding data for the latest December quarter, the shareholding for the company by Rekha Jhunjhunwala stood at 2.78%. On the other hand, the shareholding for the company by Mukul Agrawal stood at approximately 1.21%.

About the Q3 FY26 Result highlights

The revenue from operations for the company stood at Rs 529 crore when compared to Rs 330 crore in Q3 FY25, growing by about 60 per cent on a YoY basis and on a QoQ basis growing by 286 per cent from Rs 137 crore in Q2 FY26.

The PAT jumped by about 675 per cent on a YoY basis when you compare the Q3 FY26 profit at Rs 62 crore to Rs 8 crore in Q3 FY25 and on a QoQ basis has grown 520 per cent from Rs 10 crore in Q2 FY26. 

What caused the sudden revenue jump? 

The significant increase in the revenue during the quarter ending in December 2025 can be attributed to the recognition of land revenue pertaining to the BMC PAP project. The total consolidated revenue reported by the company for the quarter is Rs 52,917.94 lakhs (Rs 529 crore). 

Although in the notes to the accounts, we are able to infer that the revenue is recognised on the completion of conditions under Ind AS 115 on the transfer of the control of land, the exact figure of the amount that is attributable to the land component is not separately reported.

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