Mahesh Developers Limited submitted a regulatory disclosure to BSE Ltd regarding decisions taken at its Board of Directors meeting held on October 30, 2026 from 5:00 PM to 6:30 PM.
The Board approved the following business items:
1. Unaudited Financial Results: Approved the Unaudited Financial Results (Standalone) for the Quarter & Half-Year ended September 30, 2026, together with the Limited Review Report provided by the auditor. The financial results show:
- Q2 September 2026: Revenue from operations Rs 37.11 lakh, net profit Rs 1.20 lakh, EPS Rs 0.03
- Half-year September 2026: Revenue from operations Rs 40.61 lakh, net profit Rs 2.15 lakh, EPS Rs 0.05
- Total comprehensive income for Q2: Rs 1.20 lakh
- Paid-up equity share capital: Rs 415.20 lakh (face value Rs 10 each)
- Reserve and surplus: (Rs 5.40) lakh
2. Director Appointments:
- Appointed Mr. Sunny Chowdhry (DIN: 05253580) as Additional Director in the category of Executive Director effective October 30, 2026, subject to shareholder approval. His profile describes him as a proven executive with experience in real estate development, commercial infrastructure, asset management, and investment sectors.
- Appointed Mr. Ashutosh Beri (DIN: 00030642) as Additional Director in the category of Non-Executive Director effective October 30, 2026, subject to shareholder approval. His profile indicates expertise in strategic leadership, business set-up & growth, governance, mentoring, and cost efficiency, with education from Madras University and IIFT.
- Both appointments have no disclosed relationships between directors.
3. Authorized Share Capital Revision: Board approved revision of the proposal for increase in Authorized Share Capital of the Company from Rs 5,00,00,000 (Five Crores) to Rs 25,00,00,000 (Twenty-Five Crores). The earlier shareholder approval for increase to Rs 100,00,00,000 (One Hundred Crores) shall be treated as withdrawn, cancelled and of no effect.
4. Fund Raising: Board approved proposal to raise funds up to Rs 30,00,00,000 (Thirty Crores) by one or more instruments/securities including equity shares, securities convertible into equity shares by way of preferential issue, qualified institutional placement, rights issue or any other permissible methods, subject to statutory/regulatory approvals.
5. Other Approvals: Board approved change in Memorandum of Association & Articles of Association and convening of an Extra-Ordinary General Meeting for seeking shareholder approval on all matters.
Financial Position (as at September 30, 2026)
- Total Assets: Rs 497.708 lakh
- Non-current assets: Rs 403.081 lakh (including Property, Plant and Equipment Rs 319.29 lakh, Inventory Rs 2855.61 lakh)
- Current assets: Rs 94.627 lakh
- Equity: Rs 409.80 lakh
- Liabilities: Rs 1164.65 lakh
- Current liabilities: Rs 3402.63 lakh
Segment Information
During the quarter and half year ended September 30, 2026, the company has only one reportable segment namely Civil Construction and Real Estate Development.
Partnership Interest
The company is a partner in M/s Shreeji Life Space having 72% share in the partnership executing residential redevelopment projects on 10th Road, Khar West, Mumbai 400052. The balance as on September 30, 2026 was Rs 845.96 lakh.
Auditor Review
The Limited Review Report was provided by Sunit M Chhatbar & Co (ICAI Firm Registration Number 141068W) stating that nothing has come to their attention that causes them to believe that the financial results contain any material misstatement.