What does Bhishma Realty Limited do?

Bhishma Realty Limited is a Mumbai-based private real estate company engaged in real estate development and investment. Incorporated in 1996, it operates in one of India's most valuable property markets. Tanya Raoul Thackersey serves as Managing Director of the company.

Who is Tanya Raoul Thackersey and what is her connection to Bhishma Realty?

Tanya Raoul Thackersey is the Managing Director of Bhishma Realty Limited. She is associated with the Thackersey family, a prominent Mumbai business family historically known for textile manufacturing (Thackersey Mills) and real estate in Maharashtra. The family has been involved in Mumbai's business landscape for generations.

What is the Thackersey family's background?

The Thackersey family is one of Mumbai's prominent business families with roots in the textile industry. They were associated with Thackersey Mills and various textile and commercial real estate interests in Maharashtra. Their real estate holdings in Mumbai are historically significant, particularly in South Mumbai and other prime locations.

Why is the share price of Bhishma Realty Limited so high at ₹1,25,100?

The extremely high share price of ₹1,25,100 is typical for old, closely-held real estate companies in Mumbai that hold valuable land parcels and have never split their shares. The price reflects the high per-share book value or NAV of the underlying Mumbai real estate assets, which are among the most valuable in India.

Is Bhishma Realty Limited planning an IPO?

No IPO plans have been publicly announced. As a closely-held private real estate company managed by the Thackersey family, listing is unlikely in the near term. The company appears to operate as a private real estate vehicle for the promoter group.

What is the website for Bhishma Realty Limited?

Bhishma Realty Limited operates a website at https://www.bhishmarealty.com, which provides information about the company and its real estate projects.

How do I buy Bhishma Realty unlisted shares here?

Raise an enquiry on any company with the quantity you want. Our desk sources the shares and comes back with a firm price and allocation. You accept the allocation, transfer the funds to the desk's published bank account, and once we verify payment the shares are transferred into your demat.

Who am I actually transacting with?

You transact with the desk, not with an anonymous counterparty. When you buy, you buy from the desk; when you sell, you sell to the desk. Shares always route through the desk's own demat account, so there's one accountable party for the whole trade.

How do I pay, and is there a payment gateway?

Payment is by direct bank transfer to Prospire Network Private Limited's published account (CIN U82300UP2025PTC233622), shown to you in-app at the payment step. There is no card gateway and no escrow. Never pay to a personal account or to any account shared over phone, WhatsApp or email — even if the person claims to be from our team.

How long does settlement take?

After you accept an allocation, you have a short window to pay (typically 2 days). Once payment is verified, shares are usually credited to your demat within 2–3 business days, subject to depository timelines and any company-level restrictions. Timeframes are typical, not guaranteed.

There are no separate platform fee lines and no GST on the transfer — the desk's margin is built into the buy/sell price you're quoted. The only statutory add-on on a purchase is stamp duty on the consideration, shown transparently in your cost breakdown.

Is there a minimum ticket size for Bhishma Realty?

Minimums vary by company and depend on the lot the desk can source. Raise an enquiry and the desk will confirm the available quantity and the minimum for that name.

What KYC do I need, and do I need a demat account?

You'll share your demat details when you enquire so we can settle directly. Full KYC — PAN and a client-master / demat statement — is required before the transfer step, when shares actually change hands. Yes, you need an active demat account to hold unlisted shares.

Are there lock-ins on unlisted or pre-IPO shares?

Some shares carry statutory or company-imposed lock-ins — for example, a post-listing lock-in on pre-IPO stock — and transfers can be subject to the company's articles or approvals. Where a lock-in applies, we'll flag it before you commit.

How do I sell Bhishma Realty shares I already hold?

Raise a sell enquiry with the company, quantity and your target price. The desk confirms a buying price, you transfer your shares into the desk's demat, and once the credit is verified we pay you out by bank transfer to your registered account. The desk never pays out before your shares are received.

Unlisted shares are illiquid, may be hard or impossible to sell, and are not covered by exchange settlement guarantees or investor-protection funds. Pricing is indicative, not live. Read the full Risk Disclosure before you enquire, and invest only what you can afford to lock away.

Bhishma Realty Unlisted Share Price | Buy Bhishma Realty Pre-IPO Shares — wisefolio

Investment Thesis

Bhishma Realty Limited is a closely-held Mumbai real estate company managed by Tanya Raoul Thackersey of the Thackersey family — one of Mumbai's established business families. The share price of ₹1,25,100 reflects the premium NAV embedded in Mumbai property assets. While Mumbai real estate's long-term fundamentals are strong, the company's illiquid unlisted status, high per-share price, and limited public disclosures restrict it to a narrow investment audience. The Thackersey legacy and Mumbai's perennial scarcity of prime real estate are the key long-term positives.

Pros

Mumbai-based real estate company — one of India's most valuable property markets globally, providing an intrinsically high-value asset backdrop
Promoter connection to the Thackersey family — a prominent Mumbai business family with historical interests in textiles and real estate — suggests established capital and networks in Mumbai's property market
Very high share price of ₹1,25,100 reflects significant per-share book value / NAV, typical of Mumbai real estate holding companies with valuable land parcels
Mumbai real estate has demonstrated long-term appreciation, particularly in premium micro-markets, providing a solid underlying asset base
Private real estate development companies in Mumbai operate in a market where entry barriers are extremely high, providing structural protection from new competition

Cons

Real estate is one of India's most capital-intensive and regulatory-complex sectors, with RERA, municipal approvals, and project timeline risks
Very high share price of ₹1,25,100 makes the investment illiquid; very few buyers exist at this price level in the unlisted market
Mumbai real estate is exposed to cyclical demand fluctuations linked to employment, interest rates, and luxury consumer sentiment
Real estate development companies carry inventory and execution risk — delays in project completion can significantly impact cash flows and profitability

Business Segments

Real Estate Development

Development of residential and/or commercial real estate projects in Mumbai, Maharashtra, targeting premium and luxury market segments

Real Estate Investment & Holding

Holding and management of real estate assets including land parcels and completed properties generating rental and capital appreciation income

Revenue Model

Bhishma Realty Limited generates revenue through real estate development (sale of constructed residential/commercial units), property rentals, and capital gains from land/property monetisation. As a private Mumbai real estate company with high per-share value, the business likely holds significant land or completed property assets generating income through sales or leasing.

Detailed Analysis

Growth outlookExpansion plans, industry tailwinds & headwinds12

Growth Plans

Mumbai real estate super-cycle driven by infrastructure upgrades (metro, coastal road, Navi Mumbai airport)

Rising demand from HNIs and NRIs for luxury Mumbai residential properties

Potential unlocking of Thackersey family legacy real estate assets in prime Mumbai locations

India's growing ultra-high-net-worth population driving luxury real estate demand

Industry Tailwinds

Recent Developments

Mumbai luxury real estate market remains robust

Mumbai's luxury and ultra-luxury real estate segment saw record registrations and prices in 2023-24, benefiting premium real estate developers and land holders. South Mumbai and prime suburban locations have seen strong demand from HNIs and NRIs.

2024-01

RERA compliance driving consolidation

Maharashtra's RERA implementation has driven consolidation among Mumbai developers, benefiting established, well-capitalised players with clear land title while creating challenges for smaller or distressed developers.

2023-06

Comparable Companies

CompanyTypeTickerMkt Cap

Godrej Properties LimitedListedGODREJPROP~60,000 Cr

Oberoi Realty LimitedListedOBEROIRLTY~40,000 Cr

Macrotech Developers (Lodha)ListedLODHA~1,30,000 Cr

K. Raheja Corp (Unlisted — comparable Mumbai heritage developer)ListedUnlisted—

Frequently Asked Questions

About Bhishma Realty

Bhishma Realty Limited is a Mumbai-based real estate company incorporated on 27 December 1996. The company is headquartered at Sir Vithaldas Chambers, 16 Mumbai Samachar Marg, Mumbai 400001 — a prestigious address in the heart of Mumbai's Fort district adjacent to the Bombay Stock Exchange and major financial institutions. The Thackersey family — a prominent Mumbai business family — are associated with the company's promoter group. Despite having a nominal authorised capital of just ₹10 lakhs and a very small paid-up capital of ₹98,920, Bhishma Realty reported an operating revenue range of ₹100-500 crore for the financial year ending March 2024 — an extraordinarily high revenue-to-capital ratio that suggests the company may operate as a real estate development vehicle with significant project-based turnover relative to its formal equity capital. This type of financial structure is common in Indian real estate development companies that: (a) use project-specific SPVs and partnerships rather than consolidated equity; (b) record revenue from property sales which are recognised at completion; or (c) operate as brokers or intermediaries in large property transactions. The ₹100-500 crore revenue range places Bhishma Realty as a mid-sized real estate business by Indian standards. The company was established in late 1996, coinciding with a period of significant Mumbai real estate activity. Directors Sudhir Krishnaraj Thackersey, Raoul Sudhir Thackersey, Ambrish Dhairyakant Gandhi, Vishwadhara Vishwajit Dahanukar, and Tanya Raoul Thackersey reflect a family-governed business with both family and independent directors. The Thackersey family has roots in Mumbai's textile and business community stretching back generations. Mumbai's real estate market is one of India's most valuable, with the Fort/Nariman Point corridor (where Bhishma Realty is headquartered) representing premium commercial real estate. The company's AGM was last held on 25 September 2024, confirming continued active regulatory compliance.

Key Milestones

Common questions about unlisted shares

How do I buy Bhishma Realty unlisted shares here?
Raise an enquiry on any company with the quantity you want. Our desk sources the shares and comes back with a firm price and allocation. You accept the allocation, transfer the funds to the desk's published bank account, and once we verify payment the shares are transferred into your demat.
Who am I actually transacting with?
You transact with the desk, not with an anonymous counterparty. When you buy, you buy from the desk; when you sell, you sell to the desk. Shares always route through the desk's own demat account, so there's one accountable party for the whole trade.
How do I pay, and is there a payment gateway?

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