This ₹100 Cr infra player is building highways for the govt. But does the road lead to rerating — or just reruns of EPC chaos?
⚡ At a Glance
Mayasheel Ventures Ltd is a UP-based Class A road contractor working with NHIDCL and state PWDs. FY25 saw revenue jump 31% and net profit soar 79%, but with no promoter data, no dividends, and zero visibility on orders, it’s a black box in a high-risk, high-reward lane.
🏗️ 1. What Does Mayasheel Actually Do?
Forget unicorns, Mayasheel is your typical old-school infra unicorn (read: B2G contractor with 3 backhoes and a dream).
🛠️ Core Business
- Segment: Road & Highway construction
- Clients: NHIDCL, state PWDs, other govt agencies
- Model: Pure EPC (Engineering, Procurement, Construction)
- Tender Type: BOQ
- (Bill of Quantities)
🧰 Also Does Electricals & More
But only on paper — because 99.35% of revenue is still from road construction. That 0.65% electrical biz is like your gym membership — technically there, rarely used.
🏗️ 2. Infra Equipment Army: Owned + Leased
Mayasheel isn’t outsourcing its dreams. It has a decent fleet of:
đźšś Owned Equipment
- Excavators, compactors, pavers, crushers
- Transit mixers, DG sets, batching plants
- Hot mix plants, dumpers
đź“„ Leased Stuff
- More excavators, tippers, tankers
âś… Verdict: Enough to execute mid-sized contracts without depending entirely on third-party rentals.
đź’¸ 3. Financials: Are the Numbers Roadworthy?
| FY | Revenue (â‚ą Cr) | Net Profit (â‚ą Cr) | OPM % | Net Margin % |
|---|---|---|---|---|
| FY24 | 130 | 7 | 13% | 5.4% |
| FY25 | 171 | 11 | 14% | 6.4% |
