Ganesh Housing: Gujarat’s Margin-Rich, Debt-Light Real Estate Play

🔍 Why This Stock Now?

(GHCL) has corrected ~30% from its all-time high, but the backdrop is strong: 🏙️ GIFT City expansion = rising institutional demand 🏅 Ahmedabad’s 2036 Olympic bid could re-rate land 🚇 Metro Phase 2 & SG Highway improve project access 📊 FY25 Financials: Revenue: ₹993 Cr (↑11%) PAT: ₹598 Cr (↑30%) EBITDA Margin: 81.8%, PAT Margin: 60.2% Debt: ₹27 Cr (Net debt: zero), PE: ~14x EPS: ₹71.72, Promoter Holding: ~74% 🧭 Business Model Edge: Accumulates land early in key corridors Launches only after infra tailwinds emerge Phased monetization = high margins, low risk 🏗️ Major Projects: Million Minds SEZ (64 acres IT zone) Godhavi Township (450 acres) One Thaltej (1.8 msf commercial) Malabar Retreat (160 flats) 📈 Technical View: Current Price: ₹1,015 (↓30% from Feb highs) Structure: Higher High – Higher Low intact Support: ₹891 (trendline + horizontal confluence) Volume: Declining during correction, signaling no heavy distribution 🔒 Risk Point: Weekly close below ₹875 would invalidate the setup. 📢 Disclaimer: This is for informational purposes only. Nothing herein constitutes a buy or sell recommendation. I may or may not be holding a position in the stock mentioned. 🧑‍💼 Rajneesh Sharma is a SEBI-registered Research Analyst (Reg. No. INH000020332). 📄 Investments are subject to market risks. Read all related documents carefully before investing.