Supreme Holdings & Hospitality Ltd Q1 FY26: Pune-Panvel Dreams, ₹2,500 Cr GDV, But Profits Missing Like Mumbai Monsoons
1. At a Glance
Supreme Holdings & Hospitality Ltd (SHHIL), despite its grand name, is less “hospitality empire” and more “Panvel land bank with Instagram filters.” With a market cap of ₹343 Cr, the stock trades at ₹88.9, down 6.3% in a year. Its P/E at 50.6x looks like DLF cosplay, but the actual PAT is just ₹6.79 Cr on sales of ₹43.2 Cr. ROE at 1.85% and ROCE at 2.41% scream “FD is better, bro.”
The quarterly numbers are comedy gold: sales fell 99.3% YoY, profits plunged 98.4% YoY, leaving a quarterly PAT of ₹0.06 Cr—basically the profit margin of a vada pav stall outside CST. Yet, with a book value of ₹147/share, the stock trades at 0.6x P/B. Value trap or hidden land bank? Investors are split like a Mumbai auto meter reading.
2. Introduction
Supreme Holdings started in 1992, when Panvel was still a sleepy outpost and Navi Mumbai International Airport was just PowerPoint slides. Fast forward three decades, the company is still promising “integrated luxury townships” while booking revenue like a mom-and-pop kirana shop.
Their big bet? Belmac brand projects in Pune and Panvel. Glossy brochures talk of open spaces, sky towers, opulent apartments, but the financials look more like “ghar ka plot” than “luxury real estate.”
For FY23, 95% of revenues came from flat sales, 3% from interest income, and 2% from investments. Translation: they’re basically a builder, not a hospitality player, despite the name sounding like a five-star hotel.
Reader check: If the company calls itself “Hospitality” but makes 95% of money from selling flats, is it hospitality or “hopeless-pitality”?
3. Business Model – WTF Do They Even Do?
SHHIL is basically a luxury township developer with big land banks in Panvel and Pune.
Belmac Residences (Pune): 6 acres, 6 towers, 300 flats. Four towers delivered, two still under construction. Think of it like a Netflix series—released season 1, season 2 stuck in post-production.
Belmac Riverside (Panvel): 5.5 acres, 85.5% open spaces (fancy way of saying “undeveloped land”). Delivered 2 towers, 100+ families in residence. Remaining towers “coming soon” since forever.
Belmac Codename Skyline (Panvel): 12+ high-rises planned. Right now, it’s more codename than skyline.
Revenue recognition happens only when flats are sold and registered. So financials swing between “boom” and “nothing this quarter, sir.”
Bonus drama: In Nov 2023, they issued 17 lakh warrants at ₹23. CMP is ₹88.9 now. Whoever subscribed is probably blessing the promoters in morning puja.
4. Financials Overview
Source table
Metric
Latest Qtr (Jun’25)
YoY Qtr (Jun’24)
Prev Qtr (Mar’25)
YoY %
QoQ %
Revenue
₹0.16 Cr
₹23.2 Cr
₹0.17 Cr
-99.3%
-5.9%
EBITDA
-₹1.13 Cr
₹4.49 Cr
-₹2.72 Cr
-125%
+58.5%
PAT
₹0.05 Cr
₹3.79 Cr
-₹1.69 Cr
-98.4%
Profit reversal
EPS (₹)
0.02
1.02
-0.44
-98.0%
N/A
Annualised EPS = ₹0.02 × 4 = ₹0.08 → Realistic P/E = 1,100x. So yes, Screener’s P/E of 50.6 is based on happier times.
Commentary: Imagine paying for Taj Hotel buffet and getting
