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InvestmentsIPOVeegaland Developers IPO

Veegaland Developers IPO

Mainboard

Open Date

10 Sep 2026

Close Date

15 Sep 2026

Min Investment

₹ 14,980

Lot Size

107

Issue Size

₹ 210.00 Cr

Price Range

₹ 130 - ₹ 140

Subscribed

0.61 x
Apply Now
status

IPO Open Now.

IPO Timeline
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IPO Offer Start
10 Sep 2026
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IPO Offer Ends
15 Sep 2026
check
Allotment Finalisation
16 Sep 2026
check
Refund Initialisation
17 Sep 2026
check
Non-Institutional Buyers (sHNI)
17 Sep 2026
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Listing of Shares
18 Sep 2026
IPO Subscription Details as on 11 Sep 2026, 08:39 AM
Qualified Instituational Buyers (QiB)
0.45 x
Retail
0.8 x
Total
0.61 x
Non-Institutional Buyer (bHNI)
0.31 x
Non-Institutional Buyer (sHNI)
0.52 x
Note: This information is provided for general guidance only. Dates may be subject to change.
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About the Company
The company is a real estate development company engaged in the planning, development and sale of multi-storied residential apartment projects in Kerala, India. The company operates under the brand name 'Veegaland Homes' and develops projects across mid-premium, premium, ultra-premium, luxe-series and ultra-luxury residential segments in Kochi, Thiruvananthapuram, Kozhikode and Thrissur. According to the ICRA Report, as of December 8, 2025, the company is ranked as Kerala's fastest-selling real estate developer and is also one of the recognised residential real estate developers in the state of Kerala.
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Founded In

2007

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CEO

Kochouseph Thomas Chittilappilly

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DRHP

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Financials of Veegaland Developers IPO

Income Statement
Balance Sheet
Cash Flows
Total Income
Total Expenses
Total Profit
Key Performance IndicatorsMar 2024Mar 2025Mar 2026
Operating Revenue110.77192.38250.98
Other Income3.853.843.18
Total Income
114.61196.22254.16
Total Expenses
103.39167.95217.96
Profit Before Tax11.2328.2736.20
Total Profit
7.8720.4326.61

All figures are in crores (₹)

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Utilisation of Proceeds

All figures are in crores (₹)

PurposeAmount
The company proposes to utilize funds towards part-funding the construction and development costs of eight residential real estate projects in Kerala. The deployment is intended to support ongoing construction activities, meet project-specific funding requirements, facilitate timely execution, and ensure completion of projects in accordance with their respective RERA-registered timelines.120
The company proposes to deploy funds towards funding acquisitions of land through outright land acquisitions and/or selective joint development arrangements, and general corporate purposes. The utilization includes strategic initiatives, funding growth opportunities, strengthening marketing capabilities, meeting working capital requirements, and other purposes as approved by the Board.-
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  • Established track record of timely completion and sales absorption across completed and ongoing projects: The company is ranked as Kerala's fastest-selling real estate developer as of December 8, 2025. The company has demonstrated ability to complete residential projects within stipulated timelines with 100% sales absorption across 692 completed units.
  • Integrated land source approach and balanced multi-stage development portfolio: The company follows a structured approach combining outright land acquisition with selective JDAs. The company maintains a balanced portfolio of 10 Completed Projects (11.05 lakh sq. ft.), 12 Ongoing Projects (18.57 lakh sq. ft.), and 3 Upcoming Projects (4.62 lakh sq. ft.).
  • Integrated and process-driven development model covering the entire project lifecycle: The company operates through an integrated development model spanning land identification to customer handover. The company maintains control over project planning, execution, and quality through documented processes and internal checks.
  • Experienced Promoters and competent management team supported by strong in-house functional capabilities: The company is led by Promoter with over 49 years of diversified experience including 16+ years in real estate. The company is supported by 45 engineers in project-monitoring roles and 127 full-time employees across various departments.

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