EFC (I) (NSE:EFCIL) Cyclically Adjusted PB Ratio: 11.60 (As of Jul. 26, 2026) — 43% Below Median

Author: Vera Yuan Vera Yuan
Vera Yuan
Vera Yuan
Director of Data and Quant Analytics at GuruFocus
Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Reviewed by: Charlie Tian Charlie Tian
Charlie Tian
Charlie Tian
Founder & CEO of GuruFocus
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

NSE:EFCIL EFC (I) Ltd NSE:EFCIL
30 GF Score
Price ₹195.30
GF Value ₹367.51
Valuation Possible Value Trap
! 3 Warning Signs
View Full Analysis

What is EFC (I) Cyclically Adjusted PB Ratio?

EFC (I) NSE:EFCIL -0.45% 30 Cyclically Adjusted PB Ratio is 11.60 as of Jul. 26, 2026, which is 43% below its 10-year median of 20.37. GuruFocus rates NSE:EFCIL with a GF Score™ of 30/100 and a GF Value™ of ₹367.51 (Possible Value Trap). The stock has 3 warning signs investors should review. Among 1,426 Real Estate companies, EFC (I) ranks worse than 98.67% on this metric.

As of today (2026-07-26), EFC (I)'s current share price is ₹195.30. EFC (I)'s Cyclically Adjusted Book per Share for the quarter that ended in Mar. 2026 was ₹16.83. EFC (I)'s Cyclically Adjusted PB Ratio for today is 11.60.

The historical rank and industry rank for EFC (I)'s Cyclically Adjusted PB Ratio or its related term are showing as below:

NSE:EFCIL' s Cyclically Adjusted PB Ratio Range Over the Past 10 Years
Min: 2.38   Med: 20.37   Max: 47.74
Current: 11.64

During the past years, EFC (I)'s highest Cyclically Adjusted PB Ratio was 47.74. The lowest was 2.38. And the median was 20.37.

NSE:EFCIL's Cyclically Adjusted PB Ratio is ranked worse than
98.67% of 1426 companies
in the Real Estate industry
Industry Median: 0.69 vs NSE:EFCIL: 11.64

The Shiller PE Ratio was first used by professor Robert Shiller. He uses E10 for his Shiller PE Ratio calculation. E10 is the average of the inflation adjusted earnings per share of a company over the past 10 years. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PB Ratio. The Cyclically Adjusted Book per Share is the average of the inflation adjusted book value per share of a company over the past 10 years.

EFC (I)'s adjusted book value per share data for the three months ended in Mar. 2026 was ₹57.900. Add all the adjusted book value per share for the past 10 years together and divide the count will get our Cyclically Adjusted Book per Share, which is ₹16.83 for the trailing ten years ended in Mar. 2026.

Shiller PE for Stocks: The True Measure of Stock Valuation


EFC (I)  (NSE:EFCIL) Cyclically Adjusted PB Ratio Explanation

Compared with the regular PB Ratio, which works poorly for cyclical businesses, the Cyclically Adjusted PB Ratio smoothed out the fluctuations of book value during business cycles. Therefore it is more accurate in reflecting the valuation of the company.

If a company has consistent business performance, the Cyclically Adjusted PB Ratio should give similar results to regular PB Ratio.


EFC (I) Cyclically Adjusted PB Ratio Related Terms


EFC (I) Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for EFC (I)'s Cyclically Adjusted PB Ratio can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

EFC (I) Cyclically Adjusted PB Ratio Chart

EFC (I) Annual Data
Trend Mar17 Mar18 Mar19 Mar20 Mar21 Mar22 Mar23 Mar24 Mar25 Mar26
Cyclically Adjusted PB Ratio
Get a 7-Day Free Trial Premium Member Only Premium Member Only 4.33 26.78 26.27 22.44 10.47

EFC (I) Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
Cyclically Adjusted PB Ratio Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 22.44 0.00 21.45 0.00 10.47

NSE:EFCIL vs CBRE, BEKE, JLL: Cyclically Adjusted PB Ratio Comparison

For the Real Estate Services subindustry, EFC (I)'s Cyclically Adjusted PB Ratio, along with its competitors' market caps and Cyclically Adjusted PB Ratio data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


EFC (I) Cyclically Adjusted PB Ratio vs Real Estate Industry

For the Real Estate industry and Real Estate sector, EFC (I)'s Cyclically Adjusted PB Ratio distribution charts can be found below:

* The bar in red indicates where EFC (I)'s Cyclically Adjusted PB Ratio falls into.


NSE:EFCIL
30GF Score
EFC (I) Ltd NSE:EFCIL
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

EFC (I) Cyclically Adjusted PB Ratio Calculation

Like the Shiller PE Ratio, the Cyclically Adjusted PB Ratio takes the Book Value per Share from the past 10 years, adjusts it for inflation, and then calculates the average. This average is then used for the P/B calculation. Because it considers this 10-year average, it's often referred to as the CAPB Ratio.

The Shiller PE Ratio was first used by professor Robert Shiller to measure the valuation of the overall market. The similar calculation is applied by GuruFocus to calculate the Cyclically Adjusted PB Ratio.

EFC (I)'s Cyclically Adjusted PB Ratio for today is calculated as

Cyclically Adjusted PB Ratio=Share Price/ Cyclically Adjusted Book per Share
=195.30/16.83
=11.60

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

EFC (I)'s Cyclically Adjusted Book per Share for the quarter that ended in Mar. 2026 is calculated as:

For example, EFC (I)'s adjusted Book Value per Share data for the three months ended in Mar. 2026 was:

Adj_Book=Book Value per Share/CPI of Mar. 2026 (Change)*Current CPI (Mar. 2026)
=57.9/164.2724*164.2724
=57.900

Current CPI (Mar. 2026) = 164.2724.

EFC (I) Quarterly Data

Book Value per Share CPI Adj_Book
201606 0.000 105.961 0.000
201609 2.051 105.961 3.180
201612 0.000 105.196 0.000
201703 1.925 105.196 3.006
201706 0.000 107.109 0.000
201709 1.994 109.021 3.005
201712 0.000 109.404 0.000
201803 2.027 109.786 3.033
201806 0.000 111.317 0.000
201809 1.989 115.142 2.838
201812 0.000 115.142 0.000
201903 1.993 118.202 2.770
201906 0.000 120.880 0.000
201909 2.171 123.175 2.895
201912 0.000 126.235 0.000
202003 2.201 124.705 2.899
202006 0.000 127.000 0.000
202009 2.243 130.118 2.832
202012 0.000 130.889 0.000
202103 2.301 131.771 2.869
202106 0.000 134.084 0.000
202109 2.329 135.847 2.816
202112 0.000 138.161 0.000
202203 2.319 138.822 2.744
202206 2.681 142.347 3.094
202209 10.415 144.661 11.827
202212 0.000 145.763 0.000
202303 10.522 146.865 11.769
202306 0.000 150.280 0.000
202309 18.071 151.492 19.596
202312 0.000 152.924 0.000
202403 42.212 153.035 45.312
202406 0.000 155.789 0.000
202409 47.373 157.882 49.290
202412 0.000 158.323 0.000
202503 53.708 157.552 55.999
202506 0.000 159.755 0.000
202509 61.551 162.289 62.303
202512 0.000 163.281 0.000
202603 57.900 164.272 57.900

Add all the adjusted book value per share together and divide the count will get our Cyclically Adjusted Book per Share.

Please note that we use the CPI data of the country/region where the company is headquartered. If the CPI data for that country/region is not available, then we will use the CPI data of the United States as default.

What does a Cyclically Adjusted PB Ratio of 11.60 mean?
EFC (I) (NSE:EFCIL) has a Cyclically Adjusted PB Ratio of 11.60 as of Jul. 26, 2026. Cyclically Adjusted PB Ratio is the ratio of share price to a company's inflation-adjusted book value per share over a 10-year period. View historical data on EFC (I) and its competitors. This is 43% below median its historical median of 20.37. Over the past decade, EFC (I)'s Cyclically Adjusted PB Ratio has ranged from 2.38 to 47.74. According to the industry distribution chart, EFC (I) ranks #1407 out of 1426 companies in the Real Estate industry, placing it in the top 98.7%.
Is EFC (I)'s Cyclically Adjusted PB Ratio too high?
EFC (I)'s current Cyclically Adjusted PB Ratio of 11.60 is 43% below median its 10-year median of 20.37. Over the past 10 years, this metric has ranged from a low of 2.38 to a high of 47.74. The Real Estate industry median Cyclically Adjusted PB Ratio is 0.69. EFC (I)'s value of 11.60 is 1581.2% above this industry median. Based on the distribution chart, EFC (I) ranks #1407 out of 1426 companies in the Real Estate industry, which is in the bottom quartile relative to peers. Overall, EFC (I) has a GF Score™ of 30/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does EFC (I)'s Cyclically Adjusted PB Ratio compare to CBRE and BEKE?
According to the Real Estate industry distribution chart, EFC (I) ranks #1407 out of 1426 companies for Cyclically Adjusted PB Ratio. This places EFC (I) in the lower half of its industry. The industry median Cyclically Adjusted PB Ratio is 0.69. EFC (I)'s value of 11.60 is 1581.2% above this benchmark. Historically, EFC (I)'s own Cyclically Adjusted PB Ratio has ranged from 2.38 to 47.74 over the past decade. While the company's 10-year median is 20.37 vs. the industry median of 0.69, EFC (I) has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Cyclically Adjusted PB Ratio for a Real Estate company?
The median Cyclically Adjusted PB Ratio among Real Estate companies is 0.69, based on 1,426 companies in the industry. Companies in the top quartile (top 25%) have a Cyclically Adjusted PB Ratio significantly above this median, while those in the bottom quartile fall well below. However, Cyclically Adjusted PB Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. EFC (I)'s current Cyclically Adjusted PB Ratio of 11.60 is 1581.2% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Cyclically Adjusted PB Ratio mean?
A high Cyclically Adjusted PB Ratio can signal that a stock is expensive relative to its fundamentals. Cyclically Adjusted PB Ratio is the ratio of share price to a company's inflation-adjusted book value per share over a 10-year period. View historical data on EFC (I) and its competitors. For the Real Estate industry, the median Cyclically Adjusted PB Ratio is 0.69 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. EFC (I)'s current Cyclically Adjusted PB Ratio is 11.60, which is 43% below median its own 10-year median of 20.37. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is EFC (I) stock overvalued right now?
Based on GuruFocus' analysis, EFC (I) (NSE:EFCIL) is currently considered Possible Value Trap. The stock's GF Value™ is ₹367.51, compared to a current price of ₹195.30 — trading 46.9% below its estimated fair value. The current Cyclically Adjusted PB Ratio is 11.60, which is 43% below median its 10-year median of 20.37 and 1581.2% above the Real Estate industry median of 0.69. EFC (I)'s overall GF Score™ is 30/100 with 3 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Cyclically Adjusted PB Ratio calculated?
Cyclically Adjusted PB Ratio is calculated from a company's financial statements. For EFC (I) (NSE:EFCIL), the current Cyclically Adjusted PB Ratio is 11.60 as of Jul. 26, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is EFC (I) (NSE:EFCIL) Overvalued in 2026?

Based on GuruFocus' analysis, EFC (I) stock appears to be undervalued. The current stock price of ₹195.30 is trading 46.9% below its estimated GF Value™ of ₹367.51. GuruFocus considers EFC (I) to be Possible Value Trap.

Key valuation signals for NSE:EFCIL:

  • Cyclically Adjusted PB Ratio: 11.60 (43% below median its 10-year median of 20.37)
  • GF Value™: ₹367.51 vs. price of ₹195.30 (46.9% below fair value)
  • GF Score™: 30/100 with 3 warning signs
  • Industry Position: 1581.2% above the Real Estate median (#1407 of 1426)

No single metric tells the full story. See the NSE:EFCIL stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


EFC (I) Business Description

Other Exchanges 512008:India
Address Range Hill Road, 6th Floor, VB Capitol Building, Opposite Hotel Symphony, Bhoslenagar, Shivajinagar, Pune, MH, IND, 411007
EFC (I) Ltd is an India-based company engaged in the business of real estate services, property management services & renting or leasing services involving owned or leased non-residential property. The company's operating segment consists of Leasing of commercial property, Designing Services and Commission Management Services. The company generates the majority of its revenue from the Leasing of commercial property.
30GF Score

Get the complete analysis for NSE:EFCIL

Cyclically Adjusted PB Ratio is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

₹195.30
Price
₹367.51
GF Value