Raja Bahadur International Ltd: Real Estate With A Royal Past But A Rollercoaster Present
Date of Publishing -
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1. 🕐 At a Glance
Raja Bahadur International Ltd is a nearly century-old company that pivoted from textiles to real estate, currently running a premium IT park in Pune leased to TCS. Despite a tiny topline, its margins have exploded recently, and the company is showing signs of revival. But with negative ROE and a 10x book valuation, it’s a strange mix of asset-heavy ambition and accounting acrobatics.
2. 🌟 Introduction with Hook
From making pillowcases in the 1920s to building posh glass buildings in Pune—Raja Bahadur has truly gone from thread to tread. But is this faded Maharaja making a comeback or just flexing one leased office tower? At ₹4,850 a share and a market cap of barely ₹120 Cr, this is one of the most expensive low-revenue companies in India.
3. 💰 Business Model (WTF Do They Even Do?)
Originally a textile manufacturing company.
Pivoted fully into Real Estate Development.
Owns the Raja-Shree Business Park, a premium IT office space in Pune.
Primary revenue comes from leasing (to TCS) and possibly small-scale power generation.
Essentially, it’s a single-asset REIT disguised as a legacy smallcap.
