Bombay Dyeing & Manufacturing Company, the Wadia group flagship, has lost 27% of its market cap since February, with the stock crashing from ₹87 to ₹63 (April 27) and bears ruling the roost. Promoter Ness Nusli Wadia bought shares worth ₹14 lakh from the open market, thus increasing his personal holding to 0.002%. The promoters collectively hold 52.35% stake, though 30% of their holding is pledged. The company, which owns about 60 acre land in prime locations in Mumbai, is counting on its real estate business for growth. The market has valued its land bank at about ₹2,000-₹2,500 crore against its market cap of ₹1,306 crore. The company has started to monetise its land bank through subsidiary Bombay Realty, which will also undertake projects for the 10,000 acre owned by the promoters and the group country-wide. It is also revamping its textile business, capitalising on home furnishings and retail, which is growing in double digits. In the home furnishings business, Bombay Dyeing holds close to 50% market share thanks to its 400 stores.