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Justo Realfintech IPO
Justo Realfintech Ltd
₹1,20,000 /1000 sharesMinimum Investment
Justo Realfintech IPO Details
| Bidding Dates | Min. Investment | Lot Size | Price Range |
|---|---|---|---|
| 24 Sep ‘25 - 26 Sep ‘25 | ₹2,40,000 | 1,000 | ₹120 - ₹127 |
| Issue Size | IPO Doc |
|---|---|
| 63.00Cr | RHP PDF |
About Justo Realfintech
Founded in
2019
Managing director
Mr Puspamitra Das
Parent organisation
Justo Realfintech Ltd
Strengths & Financials of Justo Realfintech
Strengths
Risks
Since its inception, the company claims to have helped real estate developers sell projects worth over Rs 8,150 crore, covering more than 11,250 units as of FY25. As of August 31, 2025, it holds active mandates for 37 real estate projects across Pune, Mumbai, and Nashik, with a combined potential value of over Rs 4,149.56 crore and more than 3,559 units.
The company has worked with established real estate developers, including Paranjape Spaces and Services Private Limited, Sneha Constructions, Ellora Heritage LLP, Satyam Infra Reality LLP, Paras Multispace LLP, Metrosatyam Builders LLP, Metrosatyam Developers, Benchmark Realty Private Limited, Aarnik Realty LLP, ARC Finezza Developers LLP, Kele Real Corp Private Limited, Landlord Properties Private Limited, P R Associates, Abhinav Realty & Infrastructure LLP, Siddharth Properties, Tejraj Realtors LLP, and Saniket Buildcon.
The company claims to have an extensive network of more than 3,400 channel partners that form the backbone of the company’s mandate business, serving as the main customer interface and supporting lead generation.
The company's proprietary technology platform, JustoVerse, enables data-driven decision-making and resolves disputes, such as conflicting Channel Partner claims. The company states that this platform also automates commission calculations, ensuring transparency and strengthening trust within the partner network.
The company claims that its other platform, JustoWorks, is a custom-built enterprise resource planning (ERP) system that manages essential internal processes, including project onboarding, project activation, customer relationship management (CRM), inventory tracking, invoicing, collections, accounting, and receivables monitoring.
The company has consistently observed an increase in its trade receivables over the years. It increased from Rs 28.74 crore in FY23 to Rs 31.59 crore in FY24 and Rs 49.43 crore in FY25. Any failure to collect these receivables on time or at all can negatively impact the business and its financial condition.
The company’s top 5 customers accounted for Rs 32.67 crore (40.16 percent) of the company’s total revenue in FY25, Rs 24.71 crore (41.62 percent) in FY24, and Rs 25.93 crore (36.82 percent) in FY23. Any loss of any of these clients or a decline in demand from them could adversely affect the company’s overall operations and finances.
The company derives significant revenue from its repeat customers. They accounted for Rs 35.83 crore (44.05 percent) of the company’s total revenue in FY25, Rs 16.98 crore (28.59 percent) in FY24, and Rs 14.09 crore (20.00 percent) in FY23. While the company receives orders from its existing clientele, it does not have formal long-term agreements with them. Given the nature of its business, securing similar projects from these clients is challenging. As a result, the loss of repeat clients or termination of existing engagements could negatively impact the company’s operations and financial performance.
The company reported negative cash flows from operating activities amounting to Rs 9.22 crore in FY25. The company also witnessed negative cash flows from its investing activities, amounting to Rs 8.69 crore in FY25, Rs 3.99 crore in FY24, and Rs 2.24 crore in FY23. Furthermore, it recorded negative cash flows from financing activities amounting to Rs 1.37 crore in FY24. There was a net decrease in cash and cash equivalents amounting to Rs 0.37 crore in FY24 and Rs 0.58 crore in FY23. If cash outflows continue to exceed inflows, the company may face liquidity challenges in the future.
The company generates major portions of its revenue from Pune and Maharashtra. Pune accounted for Rs 53.91 crore (66.27 percent) of the company’s total revenue in FY25, Rs 44.47 crore (74.88 percent) in FY24, and Rs 46.67 crore (66.26 percent) in FY23. Mumbai accounted for Rs 26.45 crore (32.51 percent) of the company’s total revenue in FY25, Rs 14.36 crore (24.18 percent) in FY24, and Rs 23.50 crore (33.36 percent) in FY23. Any adverse political, social, or economic developments or any regional instability in these locations could negatively impact the company’s operations and finances.
The company depends on channel partners to deliver its services. If key partners stop working with the company, it could affect the timely sale of properties, which could then adversely affect the company’s business operations
The business experiences seasonal and cyclical ups and downs in property transactions, with most revenue generated in the second half of the financial year, especially around festival periods and year-end. Any disruption during this time can delay or reduce revenue, profits, and cash flow. Economic conditions, regulatory changes, or issues with digital platforms can also negatively impact financial performance.
The company, its promoter, and directors are involved in ongoing legal matters, including certain tax-related and criminal cases. Any adverse judgment in any of these cases could adversely affect the company’s business prospects.
As of FY25, the company reported total financial indebtedness of Rs 16.23 crore. Any failure to service or repay these loans can harm the company’s operations and financial position.
Justo Realfintech Financials
*All values are in Rs. Cr
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Application Details of Justo Realfintech IPO
| Apply as | Price band | Apply upto |
|---|---|---|
| Individual investor | ₹120 - 127 | ₹2 - 5 Lakh |
For Justo Realfintech IPO, eligible investors can apply as Individual investor.