Date: 14th August 2026

Business Update: Strategic Actions

  • Strategic sale of 100% shares in operational mall assets (Ch Sambhaji Nagar & Coimbatore) announced
  • Valuation: INR 1,242.5 crore Gross Consideration
  • Target Utilization: Acquire project in Premium MMR market
  • Post disinvestment, the company retains development value potential of over ₹1,100 crore
  • Both mall businesses classified and reported as discontinued operations as per Ind AS 105

Business Update: Retail Operations (Q1 FY27)

  • Combined retailer sales of ₹2.4 billion achieved
  • Combined footfall of over 5.3 million recorded
  • 3 new stores with GLA of over 3,300 sq ft opened
  • 4 new stores signed/under fitout for over 11,600 sq ft

Prozone Mall, Ch Sambhaji Nagar

  • Occupancy reached 96% in Q1 FY27
  • 2 new stores spanning ~1,700 sq.ft. GLA launched (Sweet Dreams & Dosa Plaza)
  • ~9,100 sq ft GLA under fit-out with 2 brands (Technosports & The Nail box)
  • Total Operational Area: 5.60 lakh sq.ft.
  • Total Leased Area: 5.69 lakh sq.ft.
  • Number of Stores Leased: 130
  • Consumption up by 24% over Q1 FY26
  • Footfall up by 17% over Q1 FY26

Prozone Mall, Coimbatore

  • Occupancy reached 95% in Q1 FY27
  • 1 new store spanning ~1,620 sq.ft. GLA launched (Crossword)
  • GLA of ~2,600 sq ft signed out with 2 brands (Zarelle & Glamzy)
  • Total Operational Area: 4.78 lakh sq.ft.
  • Total Leased Area: 4.81 lakh sq.ft.
  • Number of Stores Leased: 113
  • Consumption up by 27% over Q1 FY26

Project Update: Coimbatore Residential

  • ~1.9 million sqft of residential development
  • 7 towers of 18 floors comprising 1,152 apartments
  • Phase 1: 3 towers of 18 floors comprising 540 apartments
  • 10 net new bookings received in Q1 FY27
  • ₹177 million collected in Q1 FY27
  • Construction of Two Towers (Manhattan & Splendour) completed
  • Property tax assessment obtained and Completion report submitted to TNRERA
  • Handover in Process:
  • Splendour: 91 units handed over out of 144 units
  • Manhattan: 26 units handed over out of 216 units
  • More than 117 units handed over to date
  • Amenities: Club house, swimming pool, tennis court, amphitheater, squash court, gymnasium

Project Update: Nagpur Residential

  • 0.5 million sqft of retail space under advanced stage of approvals
  • 0.39 million additional development potential
  • 4.5 million catchment population
  • 15.7 acres of residential under development
  • 4 towers of 14 floors comprising 336 apartments completed
  • Part OC obtained for 264 units up to 11 floors including part OC for balance 22 units
  • 210 units handed over to date, balance units handover in process
  • 1.9 million city population
  • 43.5 acres comprising residential township with 5 acres for commercial
  • Phase 1A,1B & 1C for plotted development of about 200 units
  • Completion certificate received for Phase 1A of 74 plots
  • Approvals obtained & sales started for Phase 1B having 75 plots
  • EOI received for 54 plots in Phase 1B
  • Amenities: Club house, swimming pool, tennis court, amphitheater, cricket court, meditation centre, gymnasium

Financial Results: Consolidated Income Statement (₹ Mn)

| Metric | Q1 FY27 | Q4 FY26 | Q1 FY26 | FY26 |

| Revenue from Real Estate Projects | 152.4 | 180.9 | 74.1 | 649.2 |

| Lease Rental & Related Income | 0.0 | 10.0 | 0.0 | 10.0 |

| Total Income from operations | 152.4 | 190.9 | 74.1 | 659.2 |

| Other Income | 5.1 | 11.6 | 3.4 | 25.9 |

| Total Income including other income | 157.6 | 202.5 | 77.5 | 685.1 |

| EBITDA w/o Other Income | -54.2 | -32.1 | -32.4 | -118.0 |

| EBITDA | -49.0 | -20.5 | -29.0 | -92.1 |

| EBITDA w/o Other income Margin | -35.6% | -16.8% | -43.7% | -17.9% |

| EBITDA Margin | -32.2% | -10.7% | -39.2% | -14.0% |

| Depreciation | 7.2 | 10.3 | 8.9 | 38.9 |

| Interest | 14.1 | 6.3 | 7.0 | 33.1 |

| Profit before tax | -68.3 | -34.7 | -42.8 | -155.2 |

| Profit after tax continuing operations | -68.4 | -21.6 | -44.1 | -142.2 |

| Profit after tax from discontinued operations | 81.4 | 60.7 | 82.0 | 321.1 |

| Total Profit after tax | 13.0 | 39.1 | 37.8 | 178.9 |

| PAT after minority interest | 13.6 | 66.6 | 7.3 | 106.9 |

Key Financial Highlights

  • Income from Operations stood at ₹507.6 million for Q1 FY27, up 33% over Q1 FY26
  • Income from continued operations stood at ₹152.4 million, up 106% YoY
  • Income from discontinued operations stood at ₹355.2 million, up 15% YoY
  • EBITDA stood at ₹215 million for Q1 FY27
  • EBITDA from continued operations stood at ₹-49 million
  • EBITDA from discontinued operations stood at ₹264 million, up 9% YoY
  • Total PAT for Q1 FY27 stood at ₹13.0 million vs ₹37.8 million in Q1 FY26
  • PAT from continuing operations for Q1 FY27 stood at -68.4 million
  • PAT from discontinued operations for Q1 FY27 stood at 81.4 million

Annexure: Shareholding Pattern (June 2026)

  • ACACIA Group: 3.01%
  • Radhakishan Damani & Family: 0.90%
  • Sandeep Raheja Group: 4.23%