Key Financial Figures (Standalone)

Financial Performance (₹ in Lakhs)

| Particulars | 2025-26 | 2024-25 | Change |

| Revenue from Operations | 5,364.70 | 8,333.11 | -35.59% |

| Other Income | 6.70 | 5.75 | +16.52% |

| Total Income | 5,371.40 | 8,338.86 | -35.59% |

| Profit Before Tax | 197.83 | 629.09 (restated) | -68.55% |

| Current Tax | 65.00 | 175.96 | -63.07% |

| Deferred Tax | 3.59 | 216.05 | -98.34% |

| Net Profit | 129.24 | 237.08 (restated) | -45.48% |

| EPS (Basic & Diluted) | ₹25.85 | ₹47.42 | -45.48% |

Capital Structure (as of March 31, 2026)

  • Authorized Share Capital: ₹15,00,00,000 (15,000,000 equity shares of ₹10 each)
  • Paid-up Share Capital: ₹50,00,000 (500,000 equity shares of ₹10 each)
  • No equity shares with differential rights, stock options, or sweat equity shares issued during the year

Key Balance Sheet Items (₹ in Lakhs)

| Particulars | March 31, 2026 | March 31, 2025 |

| Inventories | 7,047.72 | 9,800.25 |

| Cash & Cash Equivalents | 101.06 | 28.62 |

| Loans (Current) | 927.84 | 927.88 |

| Total Assets | 8,792.90 | 11,301.98 |

| Borrowings (Non-current) | 7,115.35 | 6,512.48 |

| Trade Payables | 825.14 | 31.24 |

| Other Financial Liabilities | 533.35 | 4,558.02 |

| Total Equity | (39.45) | (168.69) |

AGM Details

  • Date: Wednesday, September 30, 2026
  • Time: 04:30 P.M.
  • Venue: Registered Office at 9th Floor, Vaibhav Chambers, Opposite Income Tax, Bandra-Kurla Complex, Bandra (East), Mumbai 400051
  • Business:

1. Adoption of audited standalone financial statements for FY 2025-26

2. Re-appointment of Mr. Krishna Kumar Ramdeo Pittie (DIN: 00023052) as director retiring by rotation

Board of Directors

  • Mr. Krishna Kumar Ramdeo Pittie - Chairman & Director (Promoter)
  • Mr. Satish Sharma - Whole-Time Director (DIN: 01603829)
  • Mr. Dilip Kumar Rama Shankar Pandey - Independent Director (DIN: 01961390)
  • Ms. Meena Ronak Panchal - Independent Director (Woman) (DIN: 02902461)

Key Managerial Personnel

  • Mr. Satish Sharma - Whole-Time Director
  • The office of Company Secretary remained vacant during the financial year

Committee Composition

  • Audit Committee: Mr. Dilip Pandey (Chairman), Mr. Satish Sharma, Ms. Meena Panchal
  • Stakeholders Relationship Committee: Mr. Dilip Pandey (Chairman), Mr. Satish Sharma, Ms. Meena Panchal

Auditors

  • Statutory Auditors: M/s. Mahesh Chandra & Associates, Chartered Accountants (FRN: 112334W)
  • Secretarial Auditor: M/s. Shruti Somani, Practicing Company Secretary (COP No. 22487)
  • Internal Auditor: M/s. Shetty Naik & Associates, Chartered Accountants (FRN: 124851W)

Auditor Reports

Statutory Auditor's Report (Qualified Opinion)

  • Basis for Qualification: ₹1,000 lakh 5% Non-Cumulative Redeemable Preference Shares with due redemption amount classified as non-current liability instead of current liability
  • Emphasis of Matter: Prior period restatement of FY 2024-25 financials reducing profit before tax from ₹1,596.45 lakh to ₹629.09 lakh due to unrecorded expenses of ₹967.36 lakh (land cost ₹851.92 lakh + term loan interest ₹115.44 lakh)
  • Key Audit Matters: Valuation of real estate inventories (₹7,047.72 lakh) and revenue recognition from real estate projects

Secretarial Audit Report

  • Contains qualifications regarding non-compliance with:
  • Regulation 46 of LODR (website update)
  • Section 55 of Companies Act (redemption of preference shares)
  • Section 178 (composition of Nomination and Remuneration Committee)
  • Section 186 (interest-free loans)
  • Section 187 (investment in fixed asset not in company's name)
  • Also notes vacancies in CFO and Company Secretary positions

Business Operations and Strategy

  • Primary business: Real estate development
  • Ongoing projects: Pittie Chambers (BKC, Mumbai) and Pittie Paradise (Dadar, Mumbai)
  • Part of Pittie Chambers completed and recognized as finished goods; remaining under construction
  • Focus areas: Progressing ongoing projects, evaluating development opportunities, maintaining project quality and compliance
  • Inventory valued at cost (₹7,047.72 lakh) as management believes net realizable value exceeds cost

Material Developments

  • No dividend recommended for FY 2025-26
  • No amounts transferred to Investor Education and Protection Fund (IEPF)
  • No deposits accepted from public
  • No material changes in nature of business
  • No subsidiaries, joint ventures or associate companies
  • No material orders passed by regulators/courts impacting going concern
  • Related party transactions entered in ordinary course of business at arm's length

Capital and Ownership Structure

  • Equity shares listed on BSE Limited (Security Code: 506103)
  • Promoter holding: Mr. Krishna Kumar Pittie (314,000 shares, 62.80%), Ms. Sangeeta Pittie (57,500 shares, 11.50%)
  • Register of Members and Share Transfer Books to remain closed from September 24-30, 2026 for AGM

Corporate Governance

  • Paid-up equity capital below ₹10 crore and net worth below ₹25 crore, hence corporate governance provisions under SEBI LODR Regulations not applicable
  • Vigil Mechanism policy in place for reporting unethical behavior
  • Policy for Prevention of Sexual Harassment at workplace implemented

Other Key Disclosures

  • Human Resources: 27 permanent employees as of March 31, 2026 (20 male, 7 female)
  • No CSR obligation as company didn't meet threshold criteria under Section 135(1)
  • No frauds reported by auditors under Section 143(12)
  • No transactions with struck-off companies except Aster Venture Pvt Ltd (NCRPS investment of ₹300 lakh)
  • Title deed of building premises (carrying value ₹427.38 lakh) held in name of director Mr. Krishna Kumar Pittie

Voting Arrangements for AGM

  • Remote e-voting period: September 27-29, 2026
  • Cut-off date for voting rights: September 24, 2026
  • Scrutinizer: M/s. Shruti Somani, Practicing Company Secretary
  • Results to be placed on company website and forwarded to BSE