Key Quantitative Figures

  • Revenue from operations: ₹0.30 lakh (FY 2025-26) vs ₹0.00 lakh (FY 2024-25)
  • Other Income: ₹131.16 lakh (FY 2025-26) vs ₹135.80 lakh (FY 2024-25)
  • Profit before tax: ₹23.29 lakh (FY 2025-26) vs ₹96.85 lakh (FY 2024-25)
  • Net Profit: ₹16.41 lakh (FY 2025-26) vs ₹72.85 lakh (FY 2024-25)
  • Current tax: ₹5.87 lakh
  • Deferred tax: (₹0.18) lakh
  • Authorized Share Capital: ₹20,00,00,000 (2,00,00,000 equity shares of ₹10 each)
  • Paid-up Capital: ₹3,50,07,000 (35,00,700 equity shares of ₹10 each)
  • 87.76% of equity shares held in dematerialized form as of 31st March, 2026
  • Cash and cash equivalents: ₹658.42 lakh (FY 2025-26) vs ₹1893.91 lakh (FY 2024-25)
  • Loan to related party (Indigo Advisory Private Limited): ₹13,50,00,000

Dates of Action

  • AGM Date: Wednesday, 15th July, 2026 at 12:00 Noon (IST)
  • Cut-off date for E-Voting: Wednesday, 8th July, 2026
  • E-Voting period: 12th July, 2026 (09:00 a.m.) to 14th July, 2026 (05:00 P.M.)
  • Share Purchase Agreement concluded: 30th May, 2025
  • Name change effective: 22nd April, 2025
  • Financial year ended: 31st March, 2026

Parties Involved

  • Statutory Auditor: PGS & Associates, Chartered Accountants
  • Secretarial Auditor: Dipti Zaveri & Co., Company Secretaries
  • Registrar & Transfer Agent: Alankit Assignments Limited
  • Bankers: Axis Bank, HDFC Bank, State Bank of India
  • Scrutinizer for AGM: CS Dipti Zaveri
  • E-Voting agency: Central Depository Services (India) Limited (CDSL)

Business Transformation

Following a Share Purchase Agreement on 30th May 2025, the company underwent complete management change and shifted its business focus from dairy products and pharma nutritional products to real estate development and infrastructure projects. Members approved the alteration of the Objects Clause through Special Resolution passed via Postal Ballot on 17th January 2025. The company name was changed from Mahaan Foods Limited to Lake Shore Realty Limited effective 22nd April 2025.

Strategic Direction

The company is evaluating development and redevelopment opportunities in prime Mumbai micro-markets including D.N. Nagar in Andheri West, Opera House and Churchgate, subject to due diligence and regulatory approvals. The vision is to lead in development and management of large-scale projects across real estate, infrastructure, hospitality, education, healthcare, and industrial warehousing sectors.

Board and Committee Composition

As of 31st March 2026, the Board comprised:

  • Ms. Bhairavi Chandrakant Goswami (Managing Director)
  • Mr. Chandan Hiralal Prajapati (Non-Executive Non-Independent Director)
  • Mr. Vijay Kumar (Non-Executive Independent Director)
  • Mrs. Ruchi Ghanashyam (Non-Executive Independent Director)

Post-year end changes (as of 23rd May 2026):

  • Mr. Narendra Kumar Verma appointed as Additional Independent Director w.e.f. 15th May 2026
  • Mrs. Ruchi Ghanashyam resigned w.e.f. 1st April 2026

Key Managerial Personnel Changes

  • Mr. Himanshu Dineshkumar Joshi appointed as CFO w.e.f. 13th November, 2025
  • Mr. Ankit Dinesh Singh appointed as Company Secretary & Compliance Officer w.e.f. 13th August, 2025
  • Mr. Ankit Agarwal resigned as Company Secretary & Compliance Officer w.e.f. 13th August, 2025

Shareholding Pattern

Promoter holding: 16.45% (Indigo Infracon Private Limited)

Non-promoter holding: Al Maha Investment Fund PCC-ONXY Strategy holds 38.39%

Total promoter and promoter group: 54.84%

Dividend and Reserves

No dividend recommended for FY 2025-26. No amount transferred to General Reserve.

AGM Business Items

1. Adoption of Standalone Audited Financial Statements for FY ended 31st March, 2026

2. Re-appointment of Ms. Bhairavi Chandrakant Goswami as Managing Director

Corporate Governance

Though not mandatorily applicable (paid-up capital < ₹10 crore, net worth < ₹25 crore), the company has constituted three Board Committees:

  • Audit Committee
  • Nomination & Remuneration Committee
  • Stakeholders Relationship Committee

Internal Financial Controls

The company has adequate internal financial controls systems which were operating effectively as of 31st March 2026.

Related Party Transactions

All related party transactions were in ordinary course of business and at arm's length basis. Details are provided in Form AOC-2 annexed to the Director's Report.

Forward-looking Statements

The management discussion highlights India's economic growth (USD 4.2 trillion GDP, 7.4-7.6% growth), demographic advantages (median age 29 years), and Mumbai's infrastructure transformation (Atal Setu, Coastal Road, Navi Mumbai Airport, Metro expansion) as key opportunities for the real estate sector.