Veegaland Developers Limited
Open now10–15 Sep 2026
Updated 2026-09-10 (IST)
What Veegaland Developers Limited does
We are a real estate development Company engaged in the planning, development and sale of multi-storied residential apartment projects in the state of Kerala, India. We operate under our brand name 'Veegaland Homes' and have undertaken projects in Kochi, Thiruvananthapuram, Kozhikode and Thrissur.
Veegaland Developers Limited financials
Rs crore · AnnualLatest year highlighted in green. Sparklines show the trend.
| 2024 | 2025 | 2026 | ||
|---|---|---|---|---|
| Sales | 111 | 192 | 251 | |
| Operating Profit | 17 | 34 | 43 | |
| OPM % | 14.6% | 17.2% | 16.8% | |
| Net Profit | 8 | 20 | 27 | |
| Total Debt | 120 | 177 | 86 |
Veegaland Developers Limited IPO offer structure
Fresh issue: ₹210 cr
The offer-for-sale component is not stated in what we extracted from the offer document, so the full issue size and the split between the two are unknown. This figure is the fresh issue alone, not the total raise. Fresh issue proceeds go to the company; OFS proceeds go to selling shareholders.
Issue size and split come from a public aggregator rather than the exchange, cross-checked against a second one. The offer document states the offer-for-sale as a share count against a blank amount, so it cannot be read from the document itself.
Use of proceeds- Funding a part of the expense to be incurred in the development of our Ongoing Projects: ₹120 cr
- Funding unidentified acquisition of land and general corporate purposes
Veegaland Developers Limited promoters and holding
- Kochouseph Thomas Chittilappilly: Whole-time Director and Vice Chairman
- K. Chittilappilly Trust: Promoter Trust
Veegaland Developers Limited strengths and risks
Company-stated strengths and disclosed risk factors from the offer document.
- Proven execution and complete sell-through in delivered projects (p.153)
- Strong sales absorption across Ongoing Projects (p.153)
- Recognised sales velocity in core operating markets (p.153)
- Improving sales performance and revenue visibility (p.153)
- Balanced portfolio across stages of development (p.153)
- Our business is entirely concentrated in the state of Kerala, and our performance is highly dependent on its real estate market conditions. (p.31)
- The timely execution and completion of our Ongoing and Upcoming Projects involve significant risks and uncertainties. (p.32)
- Our dependence on independent contractors and other specialists for construction and project execution exposes us to execution risks. (p.34)
- Our revenues, profitability and return ratios fluctuate significantly over periods due to the project-based nature of our business. (p.36)
- We are subject to risks arising from increases in construction input costs and price volatility of key materials. (p.36)
Veegaland Developers Limited peer comparison: DRHP median P/E 48.6x
Live BSE prices| Company | CMP | P/E | OPM% | ROE% | Source |
|---|---|---|---|---|---|
| Shriram Properties Limited | Rs 72.59 -2.8% | 13.6x | 66.0% | 1.8% | live |
| Puravankara Limited | Rs 216.15 -0.2% | 34.0x | 21.6% | 9.5% | live |
P/E from offer document where live data unavailable. Not a fair-value judgement.
Veegaland Developers Limited market and competition
According to the ICRA Report, as of December 8, 2025, we are ranked as Kerala’s fastest-selling real estate developer and are also one of the recognised residential real estate developers in the state of Kerala.
Veegaland Developers Limited outlook, as the document states it
Going forward, we intend to increase our focus on the Luxe series segment positioned between the premium and ultra-luxury segments. This segment is designed to address demand for larger apartment configurations, enhanced privacy features, improved ventilation and amenity integration.
Never miss an IPO like this
Every upcoming IPO analysed: subscription, GMP and a DRHP breakdown, in your inbox, free. One email when each one opens.
Veegaland Developers Limited IPO: common questions
When does the Veegaland Developers Limited IPO open and close?
The Veegaland Developers Limited IPO is open from 10 Sep 2026 to 15 Sep 2026.
What is the Veegaland Developers Limited IPO price band?
The price band is ₹130–₹140 per share.
What is the lot size and minimum investment for the Veegaland Developers Limited IPO?
One lot is 107 shares, and a retail application must be at least one lot. That is about ₹14,980 at the upper end of the band. An HNI application starts above Rs 2 lakh, so the minimum is higher for that category.
What is the grey-market premium (GMP) for the Veegaland Developers Limited IPO?
As of 10 Sep 2026 the indicative GMP is +12.9%. GMP is unregulated and self-reported. Never decide on it alone.
When are the Veegaland Developers Limited IPO allotment and listing dates?
Not published yet. Derived from the close date on the usual timetable: allotment around 16 Sep 2026, refund/unblock around 17 Sep 2026 and listing around 18 Sep 2026. Treat these as estimates until the exchange confirms them.
How do I apply for the Veegaland Developers Limited IPO?
Through any broker app or your bank's net banking, using a demat account and a PAN. You bid in lots at a price inside the band, or at cut-off. The money is blocked in your account, not debited, until allotment. One application per PAN. We do not recommend brokers and carry no broker links. How to apply, start to finish →
Sources & method
Subscription and issue data come from the NSE and BSE exchange feeds, with the third-party aggregator, clearly labelled, where an exchange feed is unreachable. DRHP analysis is extracted from the offer document itself, every figure cited to its page. Each figure on the page carries its source and its timestamp.
Grey-market premium (GMP) is unregulated.
Every GMP figure is a self-reported grey-market estimate. No exchange, regulator or clearing body records or audits it, and there is no settlement guarantee or recourse. Shown for context only; never decide on GMP alone. New to GMP? The 30-second explainer → Has GMP actually been right? →
How often do these actually open above the issue price?
Of the 505 mainboard IPOs that have listed on the NSE since 2003, 359 (71%) opened above their issue price, at a median of +10%. That is the segment's own record, not a forecast for this issue.