Hazoor Multi Projects (NSE:HAZOOR) Cyclically Adjusted PB Ratio: (As of Aug. 20, 2026)

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Director of Data and Quant Analytics at GuruFocus
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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:HAZOOR Hazoor Multi Projects Ltd NSE:HAZOOR
64 GF Score
Price ₹21.20
GF Value ₹22.28
Valuation Fairly Valued
! 5 Warning Signs
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What is Hazoor Multi Projects Cyclically Adjusted PB Ratio?

Note: If the price history is too short, we do not calculate current Cyclically Adjusted PB Ratio for this stock. All the historical data is shown as the company's primary share's data instead.

Shiller PE for Stocks: The True Measure of Stock Valuation


Hazoor Multi Projects  (NSE:HAZOOR) 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.


Hazoor Multi Projects Cyclically Adjusted PB Ratio Related Terms


Hazoor Multi Projects Cyclically Adjusted PB Ratio Historical Data

* Premium members only.

The historical data trend for Hazoor Multi Projects'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.

Hazoor Multi Projects Cyclically Adjusted PB Ratio Chart

Hazoor Multi Projects 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 0.00 0.00 7.47 7.21 3.04

Hazoor Multi Projects 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 7.21 0.00 5.66 0.00 3.04

NSE:HAZOOR vs : Cyclically Adjusted PB Ratio Comparison

For the Real Estate - Development subindustry, Hazoor Multi Projects'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.


Hazoor Multi Projects Cyclically Adjusted PB Ratio vs Real Estate Industry

For the Real Estate industry and Real Estate sector, Hazoor Multi Projects's Cyclically Adjusted PB Ratio distribution charts can be found below:

* The bar in red indicates where Hazoor Multi Projects's Cyclically Adjusted PB Ratio falls into.


NSE:HAZOOR
64GF Score
Hazoor Multi Projects Ltd NSE:HAZOOR
Cyclically Adjusted PB Ratio is just one metric. See GF Score™, valuation, warning signs, and more.
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Hazoor Multi Projects 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.

Hazoor Multi Projects's Cyclically Adjusted Book per Share for the quarter that ended in Mar. 2026 is calculated as:

For example, Hazoor Multi Projects'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)
=21.649/330.2130*330.2130
=21.649

Current CPI (Mar. 2026) = 330.2130.

Hazoor Multi Projects Quarterly Data

Book Value per Share CPI Adj_Book
201606 0.000 241.018 0.000
201609 1.978 241.428 2.705
201612 0.000 241.432 0.000
201703 1.981 243.801 2.683
201706 0.000 244.955 0.000
201709 1.960 246.819 2.622
201712 0.000 246.524 0.000
201803 2.018 249.554 2.670
201806 0.000 251.989 0.000
201809 2.384 252.439 3.118
201812 0.000 251.233 0.000
201903 2.085 254.202 2.708
201906 0.000 256.143 0.000
201909 2.200 256.759 2.829
201912 0.000 256.974 0.000
202003 1.982 258.115 2.536
202006 0.000 257.797 0.000
202009 1.905 260.280 2.417
202012 0.000 260.474 0.000
202103 1.997 264.877 2.490
202106 0.000 271.696 0.000
202109 2.013 274.310 2.423
202112 0.000 278.802 0.000
202203 2.219 287.504 2.549
202206 0.000 296.311 0.000
202209 3.571 296.808 3.973
202212 0.000 296.797 0.000
202303 7.630 301.836 8.347
202306 0.000 305.109 0.000
202309 9.488 307.789 10.179
202312 0.000 306.746 0.000
202403 12.644 312.332 13.368
202406 0.000 314.175 0.000
202409 19.317 315.301 20.231
202412 0.000 315.605 0.000
202503 20.518 319.799 21.186
202506 0.000 322.561 0.000
202509 20.771 324.800 21.117
202512 0.000 324.054 0.000
202603 21.649 330.213 21.649

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.

Is Hazoor Multi Projects (NSE:HAZOOR) Overvalued in 2026?

Based on GuruFocus' analysis, Hazoor Multi Projects stock appears to be undervalued. The current stock price of ₹21.20 is trading 4.8% below its estimated GF Value™ of ₹22.28. GuruFocus considers Hazoor Multi Projects to be Fairly Valued.

Key valuation signals for NSE:HAZOOR:

  • Cyclically Adjusted PB Ratio:
  • GF Value™: ₹22.28 vs. price of ₹21.20 (4.8% below fair value)
  • GF Score™: 64/100 with 5 warning signs

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


Hazoor Multi Projects Business Description

Comparable Companies
Other Exchanges 532467:India
Address 30, Jambulwadi, J.S.S. Road, 601-A, Ramji House Premises CSL, Mumbai, MH, IND, 400002
Hazoor Multi Projects Ltd is an India-based EPC contracting company specializing in infrastructure development and real estate. The company focuses on large-scale civil projects, including roads, hotels, dams, bridges, and other engineering works, operating mainly within India. The company executes projects under EPC and Hybrid Annuity Mode (HAM) models for government and private sector clients. The company has earned a reputation for quality, reliability, and safety through strategic partnerships with clients such as the Maharashtra State Road Development Corporation and the National Highways Authority of India.
64GF Score

Get the complete analysis for NSE:HAZOOR

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

₹21.20
Price
₹22.28
GF Value