NAV stands for Net Asset Value. It is the price of one unit of a fund, calculated once a day after the markets close. Take everything the fund owns, subtract what it owes and its daily expenses, divide by the number of units in existence. That number is the NAV.
A fund with a NAV of ₹120 is not more expensive than one at ₹15. The first has simply been around longer, or has grown more since it started at ₹10. What matters is how the NAV changes over time, not where it sits today.
Because NAV is computed once daily, your purchase or redemption gets that day's NAV if your request arrives before the cut-off time, usually 3 pm for equity funds. Requests after cut-off get the next working day's NAV.
Buzz Bite
Compare how NAV moves, never what NAV is.