Company Overview
Raja Bahadur International Limited (Scrip Code: 503127) has submitted its 100th Annual Report for FY 2025-26 alongside detailed financial statements and notice of its upcoming Annual General Meeting.
Financial Performance
The company reported a significant turnaround with standalone net profit of ₹134.00 lakhs in FY26 compared to a net loss of ₹92.95 lakhs in the previous year. Revenue from operations reached ₹2,865.13 lakhs, primarily from rental income (₹2,847.28 lakhs), while other income surged to ₹831.99 lakhs including a ₹400.00 lakhs TDR sale. Consolidated net profit stood at ₹127.57 lakhs. Key financial ratios showed improvement with Debt Service Coverage Ratio at 1.17 (prev. 0.74) and Return on Equity at 0.10 (prev. -0.08).
Capital Structure and Borrowings
The company's borrowings increased significantly to ₹31,190.80 lakhs as of March 2026, with long-term borrowings at ₹28,722.60 lakhs and short-term borrowings at ₹2,468.20 lakhs. Major lenders include Kotak Mahindra Investments (₹12,000 lakhs) and Axis Bank (₹16,859.87 lakhs). Financial instruments disclosure shows total liabilities of ₹33,430.72 lakhs against assets of ₹3,982.94 lakhs.
Operational Update
Project RB-101 (Wing A) is at an advanced construction stage with Occupancy Certificate expected shortly. The company plans to launch Wing B subject to regulatory approvals. Capital work-in-progress increased to ₹18,507.61 lakhs (prev. ₹8,756.02 lakhs), primarily related to the RB-101 project.
Corporate Governance and AGM Details
The 100th Annual General Meeting is scheduled for September 17, 2026 via video conference. Key agenda items include re-appointment of Mr. Shridhar Pittie as Chairman & Managing Director with revised remuneration of ₹11,00,000/month, re-appointment of Mr. Sandeep Gokhale as Independent Director, and revision in remuneration for Executive Directors Umang Pittie and Vaibhav Pittie to ₹4,60,000/month each.
Subsidiaries and Investments
The company incorporated new wholly-owned subsidiary Samvurdhana Realty Private Limited during the year with an investment of ₹1 lakh. Investments in wholly-owned subsidiaries include Raja Bahadurs Realty Limited (₹2.50 lakhs investment) which reported a net loss of ₹5.24 lakhs for FY26.
Risk Management and Employee Benefits
The company disclosed financial risk management objectives focusing on market risk (interest rate risk), credit risk, and liquidity risk. Gratuity obligation stood at ₹116.77 lakhs with a deficit of ₹115.01 lakhs. Employee benefit expenses totaled ₹279.82 lakhs for FY26.
Related Party Transactions
Transactions with key management personnel totaled ₹418.12 lakhs in remuneration. The company also had transactions with related entities amounting to ₹88.41 lakhs paid and ₹4.79 lakhs received.
No dividend was recommended for FY25-26 to conserve resources for ongoing projects and operational requirements.