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Unlisted shares are illiquid and carry higher risk than listed securities. Prices are indicative, not live. Read the risk disclosure.

Valuation
Financials (FY2024)
Investment Thesis
Dr Fresh Assets Limited is a small-cap diversified unlisted company based in New Delhi, operating in real estate, lifestyle, and healthcare. With a market cap of ~₹48.69 Cr and a P/BV of ~0.96x, it trades near book value, but the very limited revenue scale and absence of public disclosures make it a high-risk, low-visibility investment proposition.
Pros
Cons
Business Segments
Real Estate
Real estate assets, development, or investment activities.
Lifestyle
Lifestyle products or services segment.
Healthcare
Healthcare-related business activities.
Revenue Model
Revenue from real estate transactions, garment sales (SITARAA), wellness services, and dining revenue; diversified income streams across consumer segments.
Detailed Analysis
Growth Plans
Potential unlocking of real estate assets in New Delhi which has seen consistent property appreciation
Healthcare sector tailwinds in India post-pandemic could benefit the healthcare segment
Industry Tailwinds
Potential unlocking of real estate assets in New Delhi which has seen consistent property appreciation
Healthcare sector tailwinds in India post-pandemic could benefit the healthcare segment
Recent Developments
Dr Fresh Assets reported a significant deterioration in FY2023 with revenues down 49.56% and profits falling 65.34% vs. prior year. The company is working to stabilize its diversified portfolio operations.
FY2023Comparable Companies
Listed ethnic fashion company — comparable to SITARAA brand in ethnic wear segment.
Frequently Asked Questions
About Dr Fresh Assets
Dr Fresh Assets Limited (formerly 'Sunehari Exports Limited', renamed 17 May 2012) is a New Delhi-based diversified holding company incorporated on 6 December 1990. Listed on the Metropolitan Stock Exchange of India (MSEI), the company operates through a highly diversified portfolio of subsidiaries and divisions spanning real estate, healthcare, fashion/garments, Ayurvedic products, and luxury dining. The company's unusual portfolio breadth — unusual for a small-cap MSEI-listed entity — includes: (1) Dr. Fresh Commercial Land Development Pvt Ltd (real estate SPV), (2) Reverse Age Health Services Pvt Ltd (healthcare/wellness), (3) GSC Lifestyle Brands LLP (garments under the 'SITARAA' brand), and (4) a luxury dining brand 'TABLEMANNER.' It also operates an Export Oriented Unit at the Noida Export Processing Zone (NEPZ) for export activities. The company's financials showed deterioration in FY2023 — revenues declined 49.56% and profits fell 65.34% vs. the prior year. With authorized capital of ₹11 crore and paid-up capital of ₹10.82 crore, the company is small but maintains active operations across its diverse portfolio. For investors, Dr Fresh Assets represents an unusual conglomerate-in-miniature: a small MSEI-listed company attempting to build a diversified consumer portfolio. The revenue decline in FY2023 raises execution concerns, but the company's diverse business interests and active website presence suggest genuine operational activity across multiple verticals. The MSEI listing provides some regulatory oversight, though trading volumes on MSEI are typically very thin compared to BSE/NSE.
Key Milestones
Incorporated in 1990 in New Delhi, Delhi
Common questions about unlisted shares
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You enquire
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We source & quote
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You accept the allocation
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Shares reach your demat
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A principal desk for unlisted & pre-IPO shares — you transact with us, not a stranger.
You enquire
Takes 2 minutes
We source & quote
Typically within 1 business day
You accept the allocation
Quote valid for 3 days
You transfer the funds
Pay within 2 days of accepting
Shares reach your demat
Usually credited within 2–3 business days
Unlisted shares are illiquid and carry higher risk. Pricing is indicative, not live, and these are private off-market transactions with no exchange settlement guarantee. Read the full risk disclosure.
Industry Headwinds
Lack of public financial disclosures makes it difficult to track business performance
Very small scale with revenue estimated at ~₹6-7 Cr limits growth optionality
No visible IPO or exit event planned
Revenue declined 49.56% in FY2023 — significant operational deterioration
Source: Company Financial Filings
Highly diversified for a small company — execution spread too thin risk
Source: Media Reports / Public Records
Very low revenue base implied by P/S ratio of 7.50 at market cap of ~₹48.69 Cr, suggesting revenue of approximately ₹6.5 Cr — extremely small scale.
As an unlisted company with small market cap, exit options for investors are very limited and the unlisted market has thin trading volumes.
Diversification across real estate, lifestyle, and healthcare without disclosed dominant segment raises questions about strategic focus and management bandwidth.
Listed real estate developer — comparable for real estate development vertical.
Operated across diversified segments including real estate, lifestyle, and healthcare
Unlisted public company with market cap of ~₹48.69 Cr as of 2022-23 data
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