­Experienced management and established track record of operations
DRPL was established by Mr. Nitin Patel in January 1998. The current promoters Mr. Nitin Patel and his son Mr. Divyanshu Patel have a vast experience in the similar line of business. Mr. Nitin Patel has experience of more than 2 decades in the field of housing construction and residential complexes. The company has till date developed more than 1 million sqft area and completed over 16 projects within Mumbai Suburban area including Andheri, Kandivali, Borivali, Dahisar, Mira Road, Wadala.
Currently, company has one project (Westwood and Westwood 2) having two saleable buildings in Kandivali West, Mumbai Maharashtra with area under developing residential and commercial spaces.

Acuite believes the established track record of the company and its extensive experience in developing both luxury and budget homes will help the company in catering to various class of customers.

Steady construction pace along with moderate sales and collection traction
The construction of Westwood is going timely with staircase work commenced. Sales and collection traction has been steady with ~63.65% area sold as on December 2025 and 31.8% of collection received. As of December 2025, around ~62.45% of the project cost has been incurred. The scheduled completion date for Westwood is December 2027. The construction of Westwood 2 has not started yet and will commence after the completion of Westwood, with an expected start by mid-FY2027. It is anticipated to be completed within 2 to 2.5 years from the commencement of construction.
 
Acuite believes that healthy sales traction and steady pace of construction in Westwood and commencement of construction in Westwood 2 will remain a key monitorable.

­Project execution risk
DRPL’s has one ongoing project - Westwood and Westwood 2. The estimated cost for Westwood is Rs.218.64 Cr, out of which Rs.136.55 Cr. has been incurred as of December 2025 (Rs.15.88 Cr. funded through promoter’s contribution, Rs.79.11 Cr. through customer advances and Rs.41.55 Cr. through term loan). Considering that Westwood-2 construction (total project cost – Rs153.09 Cr. out of which Rs.39.51 Cr. through promoter’s contribution has been incurred as of December 2025) will start after completion of Westwood, execution risk is moderate as the company is planning to start the construction by mid-year of FY27. Any volatility in the sales and collection traction for the ongoing project would adversely impact the project.

However, considering past execution track record of the company, prime location of the projects and moderate sales and collection traction, the risk is mitigated to certain extent.

­Susceptibility to real estate cyclicality and regulatory risks
The real estate industry in India is highly fragmented with most of the real estate developers, having a city specific or region-specific presence. The risks associated with real estate industry are cyclical in nature and directly linked to drop in property prices and interest rate risks, which could affect the operations. Given the high level of financial leverage, the high cost of borrowing prevents the real estate's developers' from significantly reducing prices to boost sales growth. Moreover, the industry is also exposed to certain regulatory risks linked to stamp duty and registration tax directly impacting the demand and thus operating growth of real estate players.