| Annual Financials | Mar 2024 | Mar 2025 | Mar 2026 |
| Revenue | 20.78 | 22.65 | 24.45 |
| Expenses | 17.93 | 19.57 | 21.39 |
| Other Income | 0.09 | 0.52 | 0.46 |
| Total Revenue | 20.87 | 23.17 | 24.91 |
| Profit Before Tax | 2.94 | 3.60 | 3.52 |
| Net Profit | 2.21 | 2.56 | 2.27 |
Pind Hospitality
Pind Hospitality IPO
₹2,23,200
0.02 xOver-subscribedBidding Dates 28 Sept, 26 -30 Sept, 26
Min Investment ₹2,23,200
Lot Size1,200
Price Range ₹93 – ₹99
Issue Size ₹17.82 Cr.
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IPO Subscription Details
Retail Subscription Details
0.02 x
Non-Institutional Buyers (sHNI)
0 x
Non-Institutional Buyers (bHNI)
0 x
Qualified Institutional Buyers (QIB)
1 x
Total0.02 x
0.02 x IPO Timeline
IPO Offer Start
28 Sept,26
IPO Offer Ends
30 Sept,26
Allotment Finalisation
01 Oct,26
Refund Initiation
05 Oct,26
Listing of Shares
06 Oct,26
IPO Analysis
Strengths
The company's promoters collectively have over 25 years of experience in managing restaurants, with the Whole-time Director holding a diploma in hotel management from Niagara College of Canada. As of March 31, 2026, the company employs 135 full-time staff (including Executive Directors) with strong emphasis on organic growth and staff welfare.
The company offers diverse vegetarian and non-vegetarian menu options with pioneered 'combo options'; revenue from delivery sale of combo options was ₹471.08 lakhs, ₹512.33 lakhs, and ₹479.42 lakhs for Fiscal 2026, 2025, and 2024, respectively. Around 8 years of experience in catering to guest tastes enables the company to carefully design and adjust menus based on customer feedback.
The company has achieved a delivery milestone of 550,000 deliveries on third-party food delivery apps and was recognized by Swiggy as one of the long-standing restaurant partners in Pune. Customers billed through third-party apps grew from 0.96 lakhs in Fiscal 2022 to 4.31 lakhs in Fiscal 2026 at a CAGR of 46%, generating revenue of ₹1,916.48 lakhs in Fiscal 2026.
Risks
Third-party food delivery apps contributed 78.38%, 85.19%, and 86.40% of the company's revenue from operations in Fiscal 2026, 2025, and 2024, representing ₹1,916.48 lakhs, ₹1,929.20 lakhs, and ₹1,795.16 lakhs respectively. Any adverse development in these relationships, increased commission fees, or service disruptions could materially impact the company's business and financial condition.
The company generates 100% of its revenues from operations in Pune, Maharashtra, making it highly vulnerable to any local economic downturn, natural disaster, contagious disease outbreak, or terrorist attack affecting the city. Any adverse regulatory or competitive developments specific to Pune could have a material adverse effect on overall business and results of operations.
The company proposes to utilize ₹1,269.81 lakhs of Issue Proceeds toward the Haveli Project (total cost ₹2,010.03 lakhs excluding land), which is marginally high relative to the company's net worth of ₹1,452.30 lakhs as of March 31, 2026. The promoters have no prior experience in hotel and banquet operations, and a significant portion of interior costs are customized with limited resale value, posing material risk if the project is closed or underperforms.
Objectives
The company intends to fund capital expenditure for developing a Haveli-themed hotel-cum-banquet hall in Lonavala, Maharashtra, targeting the destination wedding market and corporate conferences, covering civil construction, furniture, kitchen equipment, other capex, landscaping, consultancy charges, and contingencies.
The company plans to utilize the balance Net Proceeds for general corporate purposes, including but not limited to repayment of borrowings, strategic initiatives, acquisitions, opening restaurants, business development, R&D, fixed asset acquisition, and meeting ordinary course business expenses, not exceeding lakhs or a specified percentage of gross proceeds.
Yearly Financial Results
Balance Sheet
| Balance Sheet | Mar 2024 | Mar 2025 | Mar 2026 |
| Total Assets | 26.04 | 28.33 | 37.72 |
| Current Assets | 6.33 | 5.59 | 8.19 |
| Fixed Assets | 19.71 | 22.74 | 29.53 |
| Total Equity & Liabilities | 26.04 | 28.33 | 37.72 |
| Total Liabilities | 16.35 | 16.08 | 23.20 |
| Current Liabilities | 4.10 | 4.99 | 9.08 |
| Non Current Liabilities | 12.25 | 11.09 | 14.12 |
| Total Equity | 9.69 | 12.25 | 14.52 |
Cash Flow
| Cash Flow | Mar 2024 | Mar 2025 | Mar 2026 |
| Net Cash Flow | 0.91 | -1.65 | -0.16 |
| Investing Activities | -15.76 | -2.17 | -6.47 |
| Operating Activities | 4.27 | 1.90 | 3.05 |
| Financing Activities | 12.40 | -1.39 | 3.26 |
About Pind Hospitality
Pind Hospitality Limited operates a chain of North Indian cuisine restaurants under the brand 'Pind Punjab' in Pune, Maharashtra, with 5 restaurants and a food counter at an IT park. The company serves dine-in, delivery, and outdoor catering customers, having processed over 4.31 lakh orders via third-party food delivery apps...more
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Managing DirectorNimish Parveen Malhotra
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