• IPO proceeds allocation: The company is raising ₹315 crore via a fresh issue, allocating ₹145 crore to upfront FSI procurement charges and ₹91 crore toward repaying its ₹236 crore debt, which carries an average borrowing cost of around 13%.
• Project pipeline: Pranav Constructions operates an asset-light redevelopment model in Mumbai with a portfolio of 28 completed projects, 20 ongoing projects encompassing 1.6 million square feet, 17 upcoming projects covering 2 million square feet, and 41 open bids.
• Construction timeline: The company averages a construction cycle of under 26 months on completed projects and aims to execute ongoing and upcoming developments within three financial years.
• Target market demand: Catering to mid-mass and aspirational homebuyers rather than luxury buyers, 45% of inventory is consumed by existing members, with another 10% to 15% bought by their expanding families.