Specific Clarification Points
1. The company acknowledges an order dated August 25, 2026 ("Order") passed by the Maharashtra Real Estate Appellate Tribunal regarding the Turf View project in Mahalaxmi. The proceedings were initiated by three homebuyers who had booked residential units in the project.
2. The company characterizes such proceedings as "routine and in the ordinary course of business operations" and states it is "in the process of taking appropriate legal recourse."
3. According to the company's assessment, the decision "will not have any material impact on the financial position, operations, or performance of the Company or its shareholders" and therefore "does not merit any disclosure."
4. The company challenges the news article's correlation between the stock price movement and the Tribunal order, noting that:
- The Order was issued on August 25, 2026 and has been publicly available
- The Order was reported in print media on September 1, 2026
- The news article itself notes that other real estate company stocks also experienced price declines
5. The company confirms that "there is no other material information that has not been disclosed to the Exchange which could explain the aforesaid price movement."
Regulatory Compliance Statement
The company affirms full compliance with the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 and commits to duly inform the Exchange of any further developments in this matter that may have a material impact on the Company.
Financial Impact Assessment
The company explicitly states that the Tribunal order will not have any material financial impact on the company's position, operations, or performance.