Runwal Enterprises IPO

Subscription Status

GMP History

Financial Performance

As disclosed by Runwal Enterprises in its offer document.

Strengths and risks

Taken from Runwal Enterprises's own offer document — not Arthneeti's assessment.

• ✓Runwal Enterprises was ranked third in terms of new launches and sales in Mumbai between January 2023 and March 31, 2026, with approximate market shares of 2.33% and 2.46%, respectively. During this period, the Group launched approximately 5,875 residential units and sold 6,309 units.
• !Runwal Enterprises has a significant concentration of its real estate development projects in Mumbai. As of March 31, 2026, 78 projects comprising 58.89 million square feet of developable area, or 66.65% of the total developable area, were located in Mumbai, while only two projects comprising 29.48 million square feet were located outside Mumbai. Any adverse economic, regulatory, market or natural disaster-related developments in Mumbai could negatively affect the company’s business, financial condition, cash flows and results of operations.
• ✓As of March 31, 2026, the company had 17 ongoing residential projects in Mumbai covering 18.11 million square feet of developable area and 19 upcoming residential projects with an estimated developable area of 20.46 million square feet. Across all projects, its ongoing developments covered 19.88 million square feet, while upcoming projects covered an estimated 56.41 million square feet.
• !As of March 31, 2026, Runwal Enterprises had 28 ongoing projects and 33 upcoming projects, together accounting for 76.29 million square feet, or 86.33% of its total developable area. Several ongoing projects have already experienced construction or COVID-19-related delays, including Runwal Forests Phase 2, Runwal Bliss Phase 2, Runwal Pinnacle, Runwal Gardens Phase 5A, and Runwal Gardens Phase 6A. Any further delays, changes in approvals, labour or supply disruptions, or unexpected increases in construction and financing costs could adversely affect the company’s business, financial condition and results of operations.

About Runwal Enterprises

Runwal Enterprises Limited is a real estate developer involved in residential and other real estate projects. Its residential projects cater to affordable, mid-income, and luxury segments, while its other developments include commercial spaces, retail malls, and educational buildings. The company undertakes greenfield projects involving land acquisition, obtaining regulatory, statutory and environmental approvals, and planning, designing, and developing the projects, including construction. It also undertakes projects through joint development agreements (JDAs) and other asset-light models. As of March 31, 2026, the company had 19 completed projects, 28 ongoing projects, and 33 upcoming projects. Its projects are located primarily in Mumbai.