1. Preferential warrant issue to promoter and investors - 72.7 lakh convertible warrants were allotted at ₹23 each in November 2025, with ₹4.18 cr received upfront and the balance ₹12.53 cr due on conversion within 18 months. Full conversion would bring in ₹12.53 cr of fresh equity and convert ₹8.49 cr of promoter debt into equity, directly reducing leverage and strengthening a balance sheet that currently carries ₹163 cr of debt against a ₹142 cr market cap.
2. Celebrity Resort Phase 1 hotel completion - ₹8.23 cr of warrant proceeds is earmarked to complete 45 hotel rooms at the Shamirpet resort, with the total Phase 1 cost of ₹10.44 cr partly funded by internal accruals. Adding 45 operational keys to the existing hospitality segment creates a new revenue stream from an asset where the capex is largely pre-funded.
3. Prajay Princeton Towers hotel interiors - Interiors for the hotel rooms and restaurant at the L.B. Nagar commercial complex are under completion, with the retail, office, and convention centre already operational. Bringing the hotel component online converts idle shell space into income-generating inventory within a fully built, revenue-producing asset.
4. Prajay Water Front City Phase II nearing completion - 450 affordable-housing units under the PMAY scheme are nearing completion across the 72-acre township. Handover would release locked-up project inventory into recognised revenue, addressing the construction segment’s deeply negative margins by absorbing fixed costs over a larger delivered base.
5. Prajay Virgin County Phase II - 1,400 apartments under construction - Construction is underway on 1,400 flats across 3 wings and 36 blocks, with Phase I villas already handed over. This is the company’s largest active residential pipeline and, once sales begin converting, can materially move the top line from its current depressed quarterly run-rate of ₹7-9 cr.
6. Prajay Megapolis Phase II - 1,400 high-rise apartments - Phase II adds 13 towers with 1,400 flats on 8 acres near Hitech City, adjacent to the fully sold Phase I of 1,113 flats. A proven demand pocket and ready infrastructure from Phase I lower execution risk and shorten the path from construction to cash flow.
7. Prajay Windsor Park - 834 apartments near IT corridor - An 11-acre project with 834 apartments totalling 12 lakh sqft is positioned near the IT corridor, ORR exit 9, and an upcoming metro station. A launch timed to Hyderabad’s expected market recovery from 2026 would place saleable inventory into an improving demand cycle.