Understanding Justo Realfintech: A Business Overview
Established in 2019, Justo Realfintech Limited has rapidly carved a niche for itself in the dynamic Indian real estate sector. Based in Maharashtra, the company operates across key regions including Pune, the Mumbai Metropolitan Region (MMR), Nashik, Aurangabad, and Kolhapur.
The company's core strength lies in its comprehensive service offering, which spans advisory, sales strategy, marketing, customer relationship management (CRM), and financing solutions. Essentially, Justo Realfintech manages the entire customer journey in real estate transactions, from the initial inquiry to the final sale. This integrated approach allows property developers to concentrate on their core activities of approvals and project development, while Justo Realfintech handles the sales and marketing heavy lifting.
Their impressive track record includes facilitating the sale of projects valued at over ₹81,500 Crores, encompassing more than 11,250 units by March 31, 2025. As of August 31, 2025, they actively manage mandates for 37 real estate projects across Pune, Mumbai, and Nashik, supported by a dedicated team of 331 employees.
Key Business Strengths
- Extensive Channel Partner Network: A robust network of channel partners amplifies their reach and sales capabilities.
- Integrated Technology Platform: A custom-built platform enhances operational efficiency and streamlines the customer journey.
- Specialized Marketing & Sales Expertise: Strong capabilities in promoting and selling real estate projects, backed by efficient operations.
- Experienced Leadership: A seasoned management team with a proven ability to execute growth strategies.
Justo Realfintech IPO: Offering Snapshot
The upcoming Initial Public Offering (IPO) by Justo Realfintech Limited is a book-built issue slated to list on the BSE SME exchange. Here’s a quick glance at the offering specifics:
| Detail | Information |
|---|---|
| Issue Type | SME Book Built Issue |
| Total Issue Size | 49,61,000 equity shares (aggregating ₹63.00 Crores) |
| Issue Type Detail | Entirely a Fresh Issue of Shares |
| Face Value | ₹10 per share |
| Price Band | ₹120 to ₹127 per share |
| Minimum Order Quantity | 1,000 Shares |
| Listing Exchange | BSE SME |
| Lead Manager | Vivro Financial Services Pvt.Ltd. |
| Registrar | Purva Sharegistry (India) Pvt.Ltd. |
| Market Maker | Rikhav Securities Ltd. |
IPO Journey: A Tentative Timeline
Understanding the key dates is crucial for any potential investor. Justo Realfintech IPO will unfold over several key phases, from opening for bids to its eventual listing.
Important Note: The cut-off time for UPI mandate confirmation is 5 PM on September 26, 2025. Ensure your application is approved promptly.
Investment Details: Lot Size and Investor Categories
The IPO offers shares to different categories of investors with specific allocation percentages and minimum investment requirements.
Investor Reservation
- Qualified Institutional Buyers (QIBs): Not more than 50% of the Net Issue.
- Retail Individual Investors (RIIs): Not less than 35% of the Net Issue.
- Non-Institutional Investors (NIIs): Not less than 15% of the Net Issue.
- Market Maker Portion: 2,51,000 shares (₹3.19 Cr) are reserved for the market maker, Rikhav Securities Ltd.
Application Lot Size & Minimum Investment
Investors can apply for a minimum of 2,000 shares (2 lots) and in multiples of 1,000 shares thereafter. The minimum investment for retail investors stands at ₹2,54,000 (at the upper price band).
| Investor Category | Min. Lots | Min. Shares | Min. Amount (at ₹127/share) |
|---|---|---|---|
| Retail Individual Investor | 2 | 2,000 | ₹2,54,000 |
| Small HNI (S-HNI) | 3 | 3,000 | ₹3,81,000 |
| Big HNI (B-HNI) | 8 | 8,000 | ₹10,16,000 |
Analyzing Justo Realfintech's Financial Performance
A close look at the company's financial statements reveals a growth trajectory, particularly in the most recent fiscal year. All figures are in ₹ Crore.
| Particulars | March 31, 2025 | March 31, 2024 | March 31, 2023 |
|---|---|---|---|
| Total Assets | 76.28 | 41.77 | 32.62 |
| Revenue (Total Income) | 81.64 | 59.45 | 70.55 |
| Profit After Tax (PAT) | 15.21 | 6.69 | 15.30 |
| EBITDA | 21.49 | 9.47 | 22.00 |
| Net Worth | 51.40 | 26.92 | 20.31 |
| Total Borrowings | 16.23 | 2.31 | 3.61 |
From the data, it's evident that Justo Realfintech experienced a significant revenue growth of approximately 37% and a remarkable 127% surge in Profit After Tax (PAT) between FY2024 and FY2025. This indicates a strong operational turnaround and enhanced profitability in the latest reporting period. Total assets and net worth have also seen consistent growth, though borrowings have increased in the latest fiscal year.
Valuation and Key Financial Metrics
Understanding valuation metrics is crucial for assessing an IPO's attractiveness. Here are some key performance indicators (KPIs) and valuation ratios for Justo Realfintech as of March 31, 2025:
| Key Performance Indicator (KPI) | Value |
|---|---|
| Market Capitalization | ₹238.74 Crores |
| Return on Equity (ROE) | 38.84% |
| Return on Capital Employed (ROCE) | 44.18% |
| Debt/Equity Ratio | 0.32 |
| Return on Net Worth (RoNW) | 38.84% |
| PAT Margin | 18.63% |
| EBITDA Margin | 26.33% |
| Price to Book Value (P/BV) | 3.42 |
Earnings & Price-to-Earnings (P/E) Ratio
| Metric | Pre-IPO | Post-IPO |
|---|---|---|
| Earnings Per Share (EPS) | ₹10.99 | ₹8.09 |
| Price/Earnings (P/E) Ratio | 11.55 | 15.69 |
The post-IPO EPS is expected to be lower due to the dilution from the fresh issue of shares, which is a common occurrence in IPOs.
Objectives of the IPO: What's the Fresh Capital For?
Justo Realfintech aims to utilize the net proceeds from this fresh issue of shares for several strategic purposes, ensuring future growth and operational stability:
- Working Capital Enhancement: A significant portion of the funds will be directed towards meeting the company's working capital needs, enabling smoother day-to-day operations and scaling capabilities. (Expected Amount: ₹365 Million)
- IT Infrastructure & Platform Development: Investing in technology is crucial for a fintech company. The company plans to fund investments in IT infrastructure and further develop its technological platform. (Expected Amount: ₹63 Million)
- Debt Reduction: A portion of the proceeds will be used to repay existing outstanding borrowings, which can improve the company's balance sheet strength. (Expected Amount: ₹50 Million)
- General Corporate Purposes: The remaining funds will be allocated for various general corporate needs, providing flexibility for future strategic initiatives.
Promoter Holding Structure
Puspamitra Das is the esteemed promoter of Justo Realfintech Limited, guiding the company's vision and strategy.
| Holding Type | Percentage |
|---|---|
| Promoter Holding Pre-Issue | 51.87% |
| Promoter Holding Post-Issue | *To be calculated based on equity dilution after fresh issue* |
The fresh issue of shares will lead to equity dilution, consequently adjusting the promoter's percentage holding post-IPO.
Strategic Analysis: SWOT for Justo Realfintech
A SWOT analysis helps to understand the internal and external factors that could impact Justo Realfintech's performance post-IPO.
Strengths
- Robust and wide-reaching network of channel partners.
- Proprietary integrated technology platform for operational excellence.
- Proven expertise in real estate marketing and sales.
- Experienced and capable leadership team.
- Strong financial growth demonstrated in the latest fiscal year.
Weaknesses
- Reliance on the cyclical nature of the real estate market.
- High minimum investment for retail investors due to SME IPO characteristics.
- Increase in total borrowings in the most recent financial year might warrant attention.
Opportunities
- Expansion into new geographical markets within India.
- Further digital transformation in the real estate sector, increasing demand for tech-driven solutions.
- Growing urbanization and housing demand providing a large addressable market.
- Potential for strategic acquisitions or partnerships to expand service offerings.
Threats
- Intense competition from other real estate service providers and digital platforms.
- Economic downturns or changes in government policies affecting the real estate market.
- Disruptive technologies from emerging players.
- Rising interest rates impacting home buyer affordability and developer project financing.
How to Participate in the IPO
Interested investors can apply for the Justo Realfintech IPO online through various platforms. For instance, many brokerage firms allow applications via their online portals using UPI as a payment gateway. The process generally involves:
- Logging into your broker's platform (e.g., a popular brokerage console).
- Navigating to the IPO section.
- Selecting the 'Justo Realfintech IPO' and entering your bid details (UPI ID, quantity, and price).
- Approving the mandate request on your UPI payment app.
Alternatively, investors can also use the ASBA (Application Supported by Blocked Amount) facility available through their bank's net banking portal.
Company and Registrar Information
Company Contact Details
Justo Realfintech Ltd.
801/802, 8th Floor, EL Tara Building, Powai,
Off. Orchard Avenue, Hiranandani Gardens, Mumbai, Maharashtra, 400076
Phone: +91-22 3513 4314
Email: cs@justo.co.in
Website: http://www.justo.co.in/
IPO Registrar
Purva Sharegistry (India) Pvt.Ltd.
Phone: +91-022-23018261/ 23016761
Email: newissue@purvashare.com
Website: https://www.purvashare.com/investor-service/ipo-query