Runwal Enterprises’ shares opened at ₹300, trading within the ₹290–₹305 band as the ₹500 crore IPO begins, a move that will cut debt from ₹2,500 crore to ₹2,000 crore after the fresh issue.
Profit after tax jumped from ₹50 crore last year to ₹200 crore this year, a fourfold rise that eclipses the company’s 25% CAGR in pre‑sales over the past three years.
Runwal said, "This year’s profit after tax has moved to ₹200 crore from ₹50 crore, a fourfold increase."
The ₹350 crore of proceeds earmarked for debt repayment will lower leverage quickly, while the remaining ₹150 crore will fuel growth in high‑margin luxury projects along Marine Drive and Bandra.
Runwal is abandoning affordable housing in favor of premium units, citing higher per‑unit pricing and the recent launch of a 175‑acre parcel in Alibaug as part of a broader strategy to lift margins.
Strategic partnerships with HDFC Capital (5% stake), Nishi‑Nippon Railroad on a Grade‑A office building, and Blackstone’s Nexus on a Dombivli shopping centre are set to scale the commercial and retail arms, reinforcing the company’s 50‑year presence in Mumbai’s real‑estate market.
Runwal expects the debt to be trimmed to ₹2,000 crore by the end of the fiscal year and emphasizes that the IPO proceeds will accelerate the rollout of luxury projects, signaling a bullish outlook for the company.