Thirani Projects Share Price

Thirani Projects Limited is a micro‑cap non‑banking financial company (NBFC) registered with the RBI, engaged in making long‑term and short‑term investments in quoted and unquoted shares and providing short‑term and long‑term loans. Headquartered in Mumbai, Maharashtra, the company was incorporated in 1983. The Thirani Projects share price on the NSE and BSE is a reflection of how market participants respond to a performance and broader business developments within its industry. It captures the company’s sentiment of the investors based on financial results, operational updates, macroeconomic factors, and trends specific to sectors. Movements in the share price͏ reveal how the market evaluates the company’s current position and its future prospects, making ͏it a key indicator of market perception across various industries. 

Market sentiment around the Thirani Projects stock price often mirrors shifts in capital market performance, credit demand and regulatory changes from the RBI. Factors such as the pace of loan disbursement, the value of its investment portfolio and government policies on NBFC regulation influence near‑term valuation and medium‑term earnings forecasts. All these factors must be closely monitored to have an idea about the Thirani Projects share price movements. 

The Thirani Projects live share price provides real‑time information about the last price traded, bid price, ask price and volume traded. Constant monitoring of Thirani Projects live price helps observe short‑term price fluctuations and understand how the stock is moving in relation to the broader market. 

Furthermore, monitoring the Thirani Projects share price today helps investors understand real‑time market sentiment, price volatility and trading behaviour. It allows market participants to evaluate short‑term performance, identify possible entry or exit points and respond to news, quarterly results or sector trends that may affect the company’s valuation and overall investment outlook. 

Thirani Projects Limited Company Fundamentals 

A. Company Background

Thirani Projects Limited was incorporated in 1983. The company’s registered office is located in Mumbai, Maharashtra, India. Thirani Projects is an NBFC duly registered with the Reserve Bank of India. The company’s main business is to make both long‑term and short‑term investments in quoted as well as unquoted shares. The company also gives short‑term and long‑term loans to borrowers. The company earns revenue by way of interest on loans given to borrowers. Thirani Projects is listed on the Bombay Stock Exchange (BSE) under the scrip code 538464 and on the National Stock Exchange (NSE) under the symbol TPROJECT. The company’s market capitalisation is approximately ₹8‑9 crore. The company has been debt‑free for the last 5 years, which is a positive aspect among small NBFCs. 

B. Product Lines 

• Long‑term investments in quoted and unquoted shares 

• Short‑term investments in quoted and unquoted shares 

• Long‑term loans to borrowers 

• Short‑term loans to borrowers 

C. Company Revenue Model 

• Primary revenue from interest income on loans given to borrowers. 

• Volume‑driven revenue based on the size of the loan book and interest rates charged. 

• Pricing determined by credit risk assessment and prevailing market interest rates. 

• Capital gains from sale of quoted and unquoted shares. 

• Dividend income from investment portfolio holdings. 

• Fee‑based income from loan processing and other financial services. 

• RBI policy changes on NBFC lending norms influencing revenue stability. 

D. Geographic Presence 

• Headquartered in Mumbai, Maharashtra, India. 

• Operations focused on the domestic financial services market. 

• Serves borrowers across multiple states within India. 

E. Key Milestones 

• 1983 – Company incorporated. 

• Year – Registered with RBI as NBFC. 

• Year – Listed on BSE and NSE. 

• 2025 – Reported net profit of ₹0.51 crore in March quarter. 

F. Industry Perspective

Thirani Projects operates in the NBFC sector. The Indian NBFC sector’s assets under management (AUM) stood at approximately ₹45‑50 lakh crore as of 2025. The sector is projected to grow at a CAGR of 12‑15% through 2030, driven by credit penetration in semi‑urban and rural areas. The investment and capital markets segment is a niche within the broader NBFC sector. The government’s focus on financial inclusion and capital market development are key growth drivers. However, the NBFC sector is highly sensitive to interest rate cycles, liquidity conditions and regulatory changes. Small NBFCs face higher borrowing costs, greater difficulty in raising funds and increased pressure on asset quality. Thirani Projects’ debt‑free status is a positive, but its ultra‑small scale and concentration risk make it highly speculative. 

Thirani Projects Limited Stock Market Presence: Listings & Index Representation 

Thirani Projects is actively traded on India’s equity markets, with its shares listed on the National Stock Exchange of India (NSE) under the symbol TPROJECT and on the Bombay Stock Exchange (BSE) with the scrip code 538464. The ISIN for the company is INE322P01013. Its listing on both exchanges ensures that the Thirani Projects share price is accessible to a wide investor base. The company forms part of the BSE SmallCap index and the BSE AllCap index. On the NSE, the company is a constituent of the Nifty Microcap 250 index. Being represented in these indices enhances the visibility and liquidity of the Thirani Projects stock price. 

Thirani Projects Limited Stock Performance and Share Price History 

The performance and share price history of Thirani Projects Limited are influenced by a mix of capital market performance, loan book activity and corporate actions. A primary driver is the value of the company’s investment portfolio, as any decline in share prices directly impacts the Thirani Projects share price. RBI policies regarding NBFC lending norms also play a role. For instance, when the RBI signals a pause or cut in interest rates, it can positively impact the value of the loan book and share prices. 

Another major factor is the company’s ability to earn consistent interest income from its lending book. Quarterly financial results, especially net profit and loan disbursement figures, cause immediate swings in the Thirani Projects stock price. Additionally, broader market trends and capital market volatility contribute to price movement. The Thirani Projects share price reached a 52‑week high of ₹7.44 and a 52‑week low of ₹3.05. The Thirani Projects share price has delivered a 3‑year total return of approximately -25%. The Thirani Projects share price has shown a 1‑year return of 34.2% as of May 2026, outperforming broader market indices. 

The Thirani Projects stock price has been particularly responsive to capital market movements. The Thirani Projects stock price has shown a pattern of moderate volatility in line with its investment‑led business model. The Thirani Projects stock price has shown a market capitalisation of approximately ₹8.23 crore as of recent quarters. The Thirani Projects share price reached its 52‑week high before correcting. The Thirani Projects share price has shown a year‑to‑date return that has been positive, up around 15‑20%. 

The Thirani Projects share price has shown seasonal patterns often linked to liquidity cycles in the broader market. In terms of annual performance, the Thirani Projects share price delivered its strongest annual returns in 2021 and then again in 2025‑2026. The stock recorded multiple years of negative returns when market conditions were weak. The Thirani Projects share price has demonstrated that the stock tends to perform better in periods of strong capital market performance and stable interest rates. 

Thirani Projects Limited Investor Relevance and Role in Portfolio 

Thirani Projects holds a limited position for portfolio investors who seek exposure to the NBFC sector with a focus on capital market investments. The company’s status as a debt‑free NBFC is a positive aspect, but its microscopic scale and promoter‑less ownership structure are significant red flags. The Thirani Projects share price often mirrors how these themes resonate with investor portfolios, but no institutional funds are actually invested. 

Institutional stakeholders play a negligible role in Thirani Projects’ ownership profile. The company has zero promoter holding (0%), with retail investors holding 100% of the shares. Mutual funds hold 0% stake. Domestic Institutional Investors (DII) hold 0%, and Foreign Institutional Investors (FII) hold 0%. This complete absence of promoter holding is a significant governance concern. 

Based on data, Thirani Projects exhibits varying levels of beta and volatility across different time horizons. The long‑term beta of Thirani Projects stands at 0.5‑0.71, indicating that the stock is generally less volatile than the broader market over an extended period. On a daily basis, the beta values show a low correlation with the broad market due to extremely low trading volumes. Based on data, the mean values for long‑term range is 5.00, daily‑one month range is 5.20, daily‑three month range is 5.00, weekly‑one year range is 5.20, weekly‑two year range is 5.00, 2 week‑two year range is 5.20, monthly‑two year range is 5.00. Standard deviations range from 0.10 to 0.50 across periods. The Thirani Projects stock price has shown periods of heightened responsiveness to capital market movements. The Thirani Projects share price’s beta reflects that the company’s micro‑cap NBFC status makes it sensitive to market volatility. The Thirani Projects share price has historically moved based on quarterly earnings and corporate announcements. 

Thirani Projects Limited Sectoral Relevance and Peer Positioning 

The sector relevance of Thirani Projects is anchored in its role within the broader Indian NBFC industry, where it competes with other small‑cap financial services companies. Competitors include Lyons Corp Mkt, Guj Credit Corp., Polytex India, Ganesh Holdings, Explicit Finance, Indo Credit Capital, and BCL Enterprises. In the wider NBFC space, peers include Bajaj Finance, Bajaj Finserv, Shriram Finance, Jio Financial Services, Power Finance Corporation, Muthoot Finance, and Tata Capital. 

In valuation terms, factors like the Thirani Projects P/E ratio have shown variations over different periods. The mean historical PE Ratio over the last five years has fluctuated significantly. The current P/E ratio stands at approximately 8.74‑9.39 times, which represents a 58% discount to its peers’ median range of 20.96 times. The P/B ratio of Thirani Projects Ltd is 0.63 times, a 61% discount to its peers‘ median range of 1.63 times. This deep discount suggests that the market is pricing in significant governance and scale‑related risks. The Thirani Projects P/E ratio was lower in 2023‑2024 and has increased slightly as earnings have improved. 

Similarly, the Thirani Projects EPS narrative has shown variation according to how operational performance aligns with market cycles. The TTM EPS stands at approximately ₹0.37‑0.50. In the December 2025 quarter, the company reported standalone sales of ₹0.26 crore, up from ₹0.21 crore in the same quarter of the previous year. Net profit for FY 2025 was ₹0.37 crore on revenue. Thirani Projects earnings have been able to generate positive, albeit modest, profits from its lending book, while capital gains on its investment portfolio have been inconsistent. The company has a low return on equity of -13% over the last 3 years, which is a financial concern. 

Thirani Projects market cap has fluctuated between approximately ₹8 crore and ₹20 crore over the past decade. From fiscal year 2019 onwards, the market cap increased from ₹8 crore to a peak of ₹20 crore in 2021 during the broader market rally. Subsequently, the market cap has declined to ₹8‑9 crore in 2025‑2026. This decrease mirrors the correction in the Thirani Projects share price following the post‑COVID market normalization. 

The Thirani Projects earnings over the past ten years have been characterised by periods of profit followed by losses. Net income has fluctuated, with the company reporting a net profit of ₹0.75 crore in FY 2025, compared to a loss in earlier periods. The company has delivered a low return on equity of -13% over the last 3 years. The Thirani Projects share price has been influenced by these valuation metrics. The Thirani Projects stock price continues to be evaluated in the context of its earnings potential and market position, but the complete absence of promoter holding remains a major concern. 

Summary 

Thirani Projects is a micro‑cap NBFC listed on the BSE and NSE, where the Thirani Projects share price reflects capital market performance, loan book activity and NBFC sector sentiment. Its inclusion in small‑cap indices supports limited visibility, while investor interest is shaped by earnings trends and the company’s debt‑free status. However, zero promoter holding is a significant red flag.