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Stock Crashed 40%, Yet Mukul Agrawal Increased His Stake; Rekha Jhunjhunwala Also Bets Big

Posted on 29th Jul 2026 03:54 pm by rohit kumar

While most investors tend to avoid stocks after a steep correction, seasoned market participants often see such declines as long-term buying opportunities. Realty company Valor Estates is a recent example. Despite the stock losing nearly 40% over the past year, ace investor Mukul Agrawal has steadily increased his stake, while veteran investor Rekha Jhunjhunwala continues to hold a significant investment.

 

Mukul Agrawal Increased His Holding Despite the Decline

 

Valor Estates shares are currently trading around ₹114, with a market capitalization of nearly ₹6,232 crore and a P/E ratio of 86.09.

 

Mukul Agrawal's shareholding has steadily increased:

 

June 2025: 1.21%

September 2025: 1.21%

December 2025: 1.21%

March 2026: 1.47%

June 2026: 1.57%

 

His continued accumulation despite the sharp fall suggests confidence in the company's long-term growth potential.

 

Rekha Jhunjhunwala Also Holds a Significant Stake

 

Ace investor Rekha Jhunjhunwala also remains invested in Valor Estates.

 

As of June 2026, her combined holding through two entities stood at 4.34%.

 

Other shareholding details include:

 

Foreign Institutional Investors (FIIs): 4.79%

Domestic Institutional Investors (DIIs): 0.39%

Promoters: 47.17%

Public Shareholding: 47.65%

 

Although promoter holding has declined from 53.82% in September 2023 to 47.17%, public participation has increased during the same period.

 

Strong Improvement in Annual Financial Performance

 

The company's long-term financial performance has improved significantly.

 

Sales Growth

FY24: ₹357 crore

FY25: ₹1,133 crore

FY26: ₹1,593 crore

Profitability

FY24: Profit of ₹1,317 crore

FY25: Loss of ₹118 crore

FY26: Returned to profit with ₹27 crore

 

The improvement indicates that the business has started recovering after a challenging year.

 

Quarterly Results Remain Weak

 

Despite better annual numbers, the latest quarterly performance remained under pressure.

 

For the March 2026 quarter:

 

Revenue: ₹87 crore

Expenses: ₹166 crore

Operating Loss: ₹79 crore

Operating Margin: -91%

Net Loss: ₹59 crore

EPS: -₹1.09

 

Real estate companies often report volatile quarterly earnings because revenue depends on project completions and property handovers.

 

Debt Reduced Sharply

 

One of the biggest positives for Valor Estates has been its balance sheet improvement.

 

The company's total debt declined substantially:

 

March 2025: ₹1,900 crore

March 2026: ₹747 crore

 

Additionally:

 

Total assets and liabilities reduced from ₹8,547 crore to ₹6,359 crore, reflecting ongoing financial restructuring and improved capital management.

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