Osiajee Texfab began life in 1995 as a straightforward textile trader, buying and selling fabrics to manufacturing houses across India. Over three decades, it has repeatedly used its listed-company platform to pivot into entirely new industries - first agro-forestry through a subsidiary in 2021, and now a planned transformation into real estate and interior design that would see it rename itself Osiajee Real Estate Limited. The recurring pattern is a small, debt-free public company with a tiny team - just 10 employees - using its BSE listing to enter businesses far removed from its textile origins, each time betting on local demand in Punjab’s Hoshiarpur district.
Business segments
Two businesses at different stages - a quiet textile trading operation that is the company’s origin, and a young agro-forestry subsidiary that has already become the group’s main operating engine - with a third, real estate, still only a declared intention.
1. Textile trading: the original business, now barely active
The company was founded to buy and sell fabrics to manufacturers, but by FY25 the parent company reported no standalone revenue - suggesting this legacy engine has effectively wound down.
- Middleman, not maker - the company has never owned plant or machinery; its fixed assets have always been limited to computers, furniture and office equipment, consistent with a pure trading operation that buys fabric and resells it to B2B customers.
- Revenue on delivery - it recognises a sale only when the goods reach the buyer and the risks and rewards of ownership transfer, with the price net of returns, allowances and volume rebates.
- A local ambition that faded - in FY22 the company articulated a plan to capture the textile market in Hoshiarpur, Punjab, through distributors and stockists, but by FY25 the parent’s standalone revenue from operations had dropped to nil, indicating the activity is minimal or dormant.
- A small outside bet - the company holds an investment of ₹30 lakh in Disha Clothing and Industries Pvt Ltd, an unquoted entity, a remnant of its textile-world connections.
2. Agro-forestry: the subsidiary that now carries the group
Through its wholly owned subsidiary Osiajee Agro Farms, the company grows Eucalyptus and Poplar trees on roughly 150 acres in Punjab and sells the wood directly to nearby plywood manufacturers - a business that has been profitable from its very first year.
- Planted for a ready buyer - the subsidiary cultivates fast-growing tree species specifically because the Hoshiarpur district has a concentrated plywood industry and other wood-based manufacturers that provide a built-in local market, with no intermediary distribution needed.
- Built from scratch in two years - incorporated in September 2021 with just ₹1 lakh in paid-up capital, the subsidiary had by July 2022 already begun planting and laid out a plan for about 550,000 trees across its land parcel.
- Funded by the parent, returning cash - the parent extended loans to the subsidiary (₹158.33 lakh outstanding as of March 2023) and has already received dividends back (₹6 lakh in FY23), showing cash cycling between the two entities.
- Real assets on the ground - the subsidiary owns property, plant and equipment worth ₹4.10 crore and holds inventories of ₹2.53 crore on the consolidated balance sheet, making it the group’s main repository of tangible operating assets.
3. Real estate and interior design: the intended next act
In early 2026 the board approved a plan to rewrite the company’s main objects clause and rename it Osiajee Real Estate Limited - a pivot so fundamental that the company’s identity would shift from textiles to property.
- A wide-ranging mandate, on paper - the proposed objects cover purchasing and trading in land, developing residential and commercial complexes (alone or in partnership), raising project finance through loans and debentures, and providing interior decoration services from flooring and lighting to turnkey project implementation.
- The name change is already in motion - the Ministry of Corporate Affairs approved the name “Osiajee Real Estate Limited” on 27 May 2026, with only shareholder and regulatory approvals still pending.
- A funding attempt that stalled - a proposed preferential issue of up to 50 lakh warrants to private investors, approved by the board in February 2025 and by shareholders in March 2025, was withdrawn in February 2026 because of unfavourable market conditions, and the company never received BSE’s in-principle approval for it.
Group structure and partners
A tiny listed parent with one material subsidiary, no debt, and a board dominated by executive directors - a lean structure where the same small group of people oversees both the legacy trading shell and the operating agro-forestry business.
- One subsidiary, fully owned - Osiajee Agro Farms Ltd is the group’s only subsidiary, 100% held by the parent since its incorporation in September 2021, and it is classified as a material subsidiary because it generates the consolidated operating revenue.
- No bank borrowings - the company funds itself entirely from cash on hand and operating cash flow, with no outstanding loans from banks, which is unusual for a group with an asset-heavy agro-forestry business.
- Eight directors, three executive - the board includes Managing Director Reema Saroya, Whole Time Director Lokesh Goyal, and Executive Director Mehul Jagdish Modi, alongside two non-executive directors and three independent directors.