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Total Issue Size
Fresh Issue + Offer For Sale
Fresh Issue (FI)
Proceeds go to the company
Offer For Sale (OFS)
Proceeds go to the existing investors
Repayment of overdraft facilities
Prepayment or repayment of certain outstanding overdraft facilities availed by the company.
Repayment of term loans
Partial repayment of term loans taken from banks and financial institutions.
General corporate purposes
Funding general corporate expenses, business growth initiatives, and operational requirements.
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(₹ in Crore)
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Founded in 1994 by Naresh Karda, Karda Constructions Limited is a real estate development and construction enterprise operating primarily in Nashik, Maharashtra. The company specializes in developing residential and commercial projects across various market segments, ranging from affordable housing to luxury residential complexes. Over two decades of operation, the firm has established a comprehensive presence in the Nashik real estate market, executing multiple residential developments, commercial centers, and joint venture projects. In addition to property development, the company expands its business model by executing construction contracts for government and private sector clients. Karda Constructions maintains a strong local footprint backed by in-house architecture, project planning, and construction management teams. Its operational pipeline encompasses ongoing residential schemes, commercial spaces, and land bank reserves positioned for future urban development in the region.
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Source: RHP • Analysis provided for informational purposes
Last Updated: 30 July 2026, 11:33 AM
Established Regional Market Presence
Strong brand equity and well-recognized market position in Nashik, supported by more than two decades of real estate execution experience.
Integrated In-House Execution Capabilities
Comprehensive in-house team overseeing project design, architectural planning, procurement, and construction management.
Business Model Diversification
Expansion beyond core real estate development into government and private sector civil construction contracts.
High Geographic Concentration Risk
Substantial portion of revenues and project portfolio concentrated in the Nashik real estate market, leaving business vulnerable to localized economic downturns.
Significant Debt Load
High leverage and debt service requirements put pressure on operational cash flows.
Dependence on Joint Development Agreements
Relying on third-party land owners for joint development arrangements subjects projects to potential contractual dispute or delay risks.
Karda Construction Limited
2nd Floor, Gulmohar Status, Above Business Bank, Samarth Nagar, Nashik - 422005, Maharashtra, India
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