Valuation Metrics Show Significant Improvement
Hazoor Multi Projects Ltd’s latest valuation grade has been upgraded to very attractive, reflecting a positive reassessment of its price multiples. The company’s P/E ratio currently stands at 31.08, which, while elevated compared to some peers, represents a more favourable level relative to its historical trading range. The price-to-book value ratio has also improved to 1.75, signalling that the stock is trading closer to its net asset value than before.
Other valuation multiples include an EV to EBIT of 16.46 and EV to EBITDA of 12.46, which are moderate within the realty sector context. The EV to capital employed ratio is 1.43, and EV to sales is 1.79, both indicating reasonable enterprise value levels relative to operational metrics. The PEG ratio remains at 0.00, reflecting either a lack of meaningful earnings growth projections or data limitations.
Peer Comparison Highlights Relative Attractiveness
When compared with key peers, Hazoor Multi Projects Ltd’s valuation stands out as compelling. For instance, Shriram Properties, also rated very attractive, trades at a P/E of 15.94 but commands a significantly higher EV to EBITDA multiple of 36.07. Suraj Estate, another very attractive peer, has a P/E of 10.84 and EV to EBITDA of 7.89, indicating a cheaper valuation but possibly reflecting different growth prospects or risk profiles.
Conversely, companies such as RDB Infrastructure and Eldeco Housing are classified as very expensive, with P/E ratios of 66.24 and 42.25 respectively, and EV to EBITDA multiples well above 30. This contrast underscores Hazoor Multi Projects’ relative valuation appeal within the sector, especially given its moderate EV multiples and improving price-to-book ratio.
Financial Performance and Returns Contextualise Valuation
Despite the improved valuation metrics, Hazoor Multi Projects’ financial performance remains mixed. The company’s latest return on capital employed (ROCE) is 6.38%, and return on equity (ROE) is 4.86%, both modest figures that suggest limited profitability relative to capital invested. Dividend yield is low at 0.55%, indicating restrained shareholder returns through dividends.
Stock price performance over various periods reveals a nuanced picture. The share price has declined by 2.76% on the day, closing at ₹34.59, down from the previous close of ₹35.57. Over the past year, the stock has underperformed the Sensex, delivering a negative return of 25.08% compared to the Sensex’s positive 8.52%. However, longer-term returns are impressive, with a 3-year return of 260.31% and a remarkable 5-year return exceeding 11,600%, far outpacing the Sensex’s 60.30% over the same period.
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Mojo Score and Grade Reflect Caution Despite Valuation Upside
Hazoor Multi Projects Ltd’s current Mojo Score is 34.0, with a Mojo Grade of Sell, upgraded from a previous Strong Sell on 09 February 2026. This upgrade indicates some improvement in the company’s overall quality and outlook, but the score remains low, signalling persistent risks or weaknesses in fundamentals. The market capitalisation grade is 4, reflecting the company’s micro-cap status, which often entails higher volatility and liquidity concerns.
The downgrade in the overall grade despite a more attractive valuation suggests that investors should weigh the improved price multiples against operational challenges and sector headwinds. The realty sector continues to face cyclical pressures, regulatory changes, and demand fluctuations, which may impact Hazoor Multi Projects’ near-term earnings visibility.
Price Movement and Trading Range Analysis
The stock’s 52-week high is ₹50.97, while the 52-week low is ₹26.80, indicating a wide trading range and significant volatility. The current price of ₹34.59 is closer to the lower end of this range, which supports the notion of increased price attractiveness from a valuation standpoint. Today’s trading range between ₹34.00 and ₹35.39 shows moderate intraday volatility but no significant breakout or breakdown.
Short-term returns over one week and one month show mixed trends, with a 1-week decline of 1.73% contrasting with a 1-month gain of 2.04%. Year-to-date returns are slightly negative at -1.09%, but still outperform the Sensex’s -3.04% over the same period, suggesting some relative resilience.
Sector Outlook and Peer Dynamics
The realty sector remains under pressure due to macroeconomic factors such as rising interest rates, inflationary costs, and subdued demand in certain markets. However, select companies with strong land banks, project pipelines, and prudent capital management continue to attract investor interest. Hazoor Multi Projects’ valuation improvement may reflect market anticipation of a turnaround or better earnings visibility ahead.
Peers like Shriram Properties and Suraj Estate, also rated very attractive, offer alternative investment opportunities with differing risk-return profiles. Investors should consider these alongside Hazoor Multi Projects when constructing a diversified realty portfolio.
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Investor Takeaway: Valuation Opportunity Amidst Caution
Hazoor Multi Projects Ltd’s shift to a very attractive valuation grade signals a potential entry point for value-oriented investors, especially given the stock’s proximity to its 52-week lows and improved price-to-book ratio. However, the modest profitability metrics, low dividend yield, and ongoing sector challenges warrant a cautious approach.
Investors should balance the company’s long-term return track record, which is impressive over 3- and 5-year horizons, against recent underperformance and the current sell-grade rating. Monitoring upcoming quarterly results, sector developments, and peer valuations will be critical to reassessing the stock’s attractiveness going forward.
In summary, while Hazoor Multi Projects Ltd offers a compelling valuation proposition relative to its peers and historical levels, the overall investment thesis remains tempered by fundamental and market risks. A selective, research-driven approach is advisable for those considering exposure to this realty micro-cap.
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