Ganesh Housing Ltd

Ganesh Housing Ltd – Trading Window Closure

Governance: Secretarial Auditor name change

• Secretarial Auditor name changed from M/s. ALAP & Co. LLP to M/s. Prasad and Partners LLP.
• Terms, tenure, and scope of appointment remain unchanged.
• Original appointment covers five years: April 1, 2025 to March 31, 2030.
• Reason: change in the name of the Secretarial Audit firm; no other changes.

AGM Details

• AGM held on 11-09-2026 from 3:00 PM to 3:10 PM via VC/OAVM.
• Cut-off date for voting entitlement: 31 August 2026.
• Mode of meeting: Video Conferencing/Other Audio Visual Means.

Dividend

• Dividend of Rs 1.50 per equity share approved for the financial year.

Key Resolutions

• Adopt audited standalone and consolidated financial statements for the year ended 31 March 2026.
• Declare dividend of Rs 1.50 per equity share.
• Re-appoint Dipakkumar G. Patel as Director (retiring by rotation).
• Re-appoint Anmol D. Patel as Director (retiring by rotation).
• Re-appoint Amanvir S. Patel as Director (retiring by rotation).
• Ratify remuneration of Cost Auditors for FY 2027.
• Approve related party transaction with Madhukamal Real Estate Investment Private Limited.
• Approve related party transaction with Mahavir (Thaltej) Complex Private Limited.
• Approve related party transaction with Ganesh Green Energy Private Limited.
• Approve related party transaction with Rohini Realty Private Limited.
• Approve related party transaction with Urbanaac Infrastructure Private Limited.
• Approve related party transaction with Mr. Shekhar Govindbhai Patel.
• Approve related party transaction with Mr. Dipakkumar Govindbhai Patel.
• Approve related party transaction with Mr. Amanvir Dipakkumar Patel.
• Approve related party transaction with Mr. Amanvir Shekhar Patel.
• Approve related party transaction with Govindbhai C. Patel Foundation.
• Approve related party transaction with Mahamati Skill and Education Foundation.

Voting Results

• Resolutions 1–6 passed with full or near-full majority; some minor opposition.
• Resolutions 7–11 and 12–17 passed with about 96.5% in favour.

Director Changes

• Directors re-appointed: Dipakkumar G. Patel; Anmol D. Patel; Amanvir S. Patel (all by rotation).

Auditor/Cost Auditor

• Cost Auditor remuneration for the financial year ending 31 March 2027 ratified.

Material Related Party Transactions

• Madhukamal Real Estate Investment Private Limited — RPT with Group Company.
• Mahavir (Thaltej) Complex Private Limited — RPT with Group Company.
• Ganesh Green Energy Private Limited — RPT with Group Company.
• Rohini Realty Private Limited — RPT with Group Company.
• Urbanaac Infrastructure Private Limited — RPT with Related Party.
• Mr. Shekhar Govindbhai Patel — RPT with Promoter/MD & CEO.
• Mr. Dipakkumar Govindbhai Patel — RPT with Promoter and WTD.
• Mr. Amanvir Dipakkumar Patel — RPT with Promoter Group/Relative of Chairman.
• Mr. Amanvir Shekhar Patel — RPT with Promoter Group/Relative of MD & CEO.
• Govindbhai C. Patel Foundation — RPT with Foundation.
• Mahamati Skill and Education Foundation — RPT with Foundation.

AGM Details

• 35th AGM held on September 11, 2026 at 03:00 PM IST via VC/OAVM.
• No record/book closure dates disclosed.

Key Resolutions and outcomes

• Ordinary: Adopt Audited standalone and consolidated financial statements for year ended March 31, 2026.
• Ordinary: Declare dividend of Rs 1.50 per equity share.
• Ordinary: Re-appoint Dipakkumar G. Patel (retires by rotation).
• Ordinary: Re-appoint Anmol D. Patel (retires by rotation).
• Ordinary: Re-appoint Amanvir S. Patel (retires by rotation).
• Ordinary: Ratify cost auditor remuneration for FY 2027.
• Ordinary: Approve related party transaction with Madhukamal Real Estate Investment Private Limited.
• Ordinary: Approve related party transaction with Mahavir (Thaltej) Complex Private Limited.
• Ordinary: Approve related party transaction with Ganesh Green Energy Private Limited.
• Ordinary: Approve related party transaction with Rohini Realty Private Limited.
• Ordinary: Approve related party transaction with Urbanaac Infrastructure Private Limited.
• Ordinary: Approve related party transaction with Mr. Shekhar Govindbhai Patel, Promoter and MD/CEO.
• Ordinary: Approve related party transaction with Mr. Dipakkumar Govindbhai Patel, Promoter and Chairman & Whole-time Director.
• Ordinary: Approve related party transaction with Mr. Anmol Dipakkumar Patel, Non-Executive Non-Independent Director.
• Ordinary: Approve related party transaction with Mr. Amanvir Shekhar Patel, Non-Executive Non-Independent Director.
• Ordinary: Approve related party transaction with Govindbhai C. Patel Foundation.
• Ordinary: Approve related party transaction with Mahamati Skill and Education Foundation.
• All resolutions passed with requisite majority.

Dividend tax and payout details

• Board recommended final dividend of ₹1.50 per share for FY2025-26, subject to AGM approval.
• TDS on dividend will be deducted per Income Tax Act 2025 at applicable rates.
• Resident PAN holders: 10% TDS; NIL for certain exemptions.
• Non-residents: 20% TDS or DTAA rate, with required documents.
• Record date for dividend payment is 31 August 2026.
• Shareholders must submit Form 121, TRC, and other documents by 29 August 2026; to MCS.
• Incomplete submissions may lead to higher TDS; no guaranteed lower deduction.
• DTAA eligibility requires TRC, Form 41 online, and annexures; company discretion on rate.
• Dividend payments will be via electronic credit; no physical warrants issued after 1 April 2024.

agm details

• AGM scheduled for Sep 11, 2026 at 3:00 PM IST.
• Held via VC/OAVM (video/ audio visual mode).
• Record date announced for dividend payout.
• AGM conducted in accordance with VC/OAVM MCA SEBI guidelines.

dividend

• Dividend proposed: ₹1.50 per equity share.

ordinary resolutions

• Adoption of standalone financial statements for the year.
• Adoption of consolidated financial statements for the year.
• Directors retiring by rotation to be re-appointed.
• Remuneration of Cost Auditors for 2026-27 to be ratified: ₹70,000 plus GST.

related party approvals

• RPT with primary group entity up to ₹1,600 crore for real estate/related services.
• RPT with each major group company up to ₹200 crore.
• RPT with promoter-family director entities up to ₹200 crore.
• RPT with other promoter-family entities up to ₹200 crore.
• RPT with CSR/foundation-related entities up to ₹50 crore each.
• RPT with additional promoter-affiliate up to ₹200 crore.
• RPT with another promoter-affiliate up to ₹200 crore.
• RPT with a separate promoter-affiliate up to ₹200 crore.
• RPT with another related party up to ₹200 crore.
• RPT with a related party for CSR/grant purposes up to ₹50 crore.

RPT framework

• Materiality threshold under SEBI LODR: ₹31.62 crore (10% of FY26 turnover).

Overview

• Reporting boundary is standalone for Ganesh Housing Ltd.
• Main activities: construction of residential, commercial, and infrastructure real estate.
• Certifications include ISO 9001:2015, ISO 14001:2015, and ISO 45001:2018.
• Operations centered in Gujarat with one national office.

Key ESG Risks & Opportunities

• Regulatory compliance risk; managed via formal BR framework.
• Operational risk from construction delays; mitigated by precast methods and flexible delivery.
• Financial risk from raw material price volatility and debt; mitigated by reserves and controls.
• HR attrition risk; addressed through policies and workforce development.
• Opportunities from precast sustainability benefits, solar panels, and EV initiatives.

Governance & Policy Highlights

• BR policy overseen by MD & CEO with formal governance.
• Policies include anti-corruption, whistleblower, and human rights; board-approved.
• Policies linked online via corporate governance site.
• Risk Management Committee and Corporate Social Responsibility Committee oversee sustainability issues.
• No penalties or fines reported in FY2025-26.
• No external BR policy assessment conducted.

Social Responsibility & Workforce

• Total permanent employees 123; 110 male, 13 female; no direct workers.
• Board female representation 20%; Key management female 25%.
• Permanent employee turnover 7.32% (4.88% male, 2.44% female).
• ISO 45001 certified; LTIFR zero; hazard risk assessments and drills conducted.
• Whistle-blower/vigil mechanism and HR rights policy in place.
• Training programs: 2 BOD sessions, 24 KMP trainings, 16 staff trainings; 100% coverage.
• Return-to-work/retention on parental leave: none taken.
• HR grievance mechanisms include policy and whistleblower channels.

Environmental Performance

• Precast construction adopted; solar panels and EV chargers installed at project sites.
• Energy: non-renewable consumption 18,465,069 kJ; renewable 0; total 18,465,069 kJ.
• Energy intensity: 0.147 per turnover; PPP-adjusted 0.306.
• Scope 1 GHG: 1663.58 MtCO2e; Scope 2: 0.
• Water withdrawal: 37,620 kilolitres; water intensity 0.000030 per turnover.
• Waste: CDW 13.96 tonnes; E-waste disposed 380 kg; no plastic or hazardous waste.
• Tree planting along NH8C and Hebatpur roads totaling 3.8 km and 2.5 km.
• Waste management follows reduce–reuse–Recycle; no end-of-life product reclaim.

Stakeholder Engagement & Complaints

• Key stakeholder groups: investors, customers, suppliers/contractors, employees, local communities.
• Engagement channels include stock exchange notices, investor presentations, emails, website, and meetings.
• Customer complaints: 9 filed; 0 pending.
• Shareholder complaints: 3 filed; 1 pending.
• Whistle-blower and grievance mechanisms provide confidential reporting.
• Community engagement is need-based with NGOs.

Other Notable Metrics

• CSR turnover: ₹12,533.87 Lakhs; net worth: ₹149,706.50 Lakhs.
• Local sourcing: 85% of inputs from vendors within 100 km.
• Related party transactions: loans to related parties 51.29%; investments 100%.
• Affiliations: two trade associations; GIHED-CREDAI and Indian Green Building Council.
• Cybersecurity and data privacy framework; Sophos; policy available online.
• Data breaches in FY2025-26: 0.

Company snapshot & AGM

• Renamed to Ganesh Housing Limited in Aug 2025.
• 35th AGM on Sept 11, 2026 via VC/OAVM.
• Dividend proposed: ₹1.50 per share for FY2025-26.
• Listed on BSE (526367) and NSE (GANESHHOU).
• Annual report available on Ganesh Housing website.

Financial performance

• Consolidated total income ₹53,850.93 lakh; revenue from operations ₹51,137.42 lakh.
• Consolidated PAT ₹31,625.81 lakh; standalone PAT ₹3,571.44 lakh.
• Consolidated EBITDA ₹44,969.53 lakh; EBITDA margin about 83.5%.
• Basic EPS ₹37.93; standalone EPS ₹4.28.
• Net debt ₹24,608.48 lakh; debt‑to‑equity 0.11x.
• Operating cash flow ₹21,280.07 lakh in FY26.

Capital structure & liquidity

• Current borrowings ₹14,906.19 lakh; non‑current ₹15,582.04 lakh.
• Total borrowings ₹30,488.23 lakh; cash & cash equivalents ₹528.62 lakh.
• Net debt ₹24,608.48 lakh; gearing 0.11x.
• Consolidated CFO ₹21,280.07 lakh.

Key strategic developments

• Name change completed to Ganesh Housing Limited (Aug 14, 2025).
• Scheme with Gatil Properties approved; undertaking transferred to Ganesh Housing.
• Million Minds Tech City: 64‑acre IT SEZ, partner Tishman Speyer.
• Malabar Retreat: 79% complete; handover targeted Sep 2027.
• Million Minds Phase 1: complete; leases expected FY27; IGBC Platinum rating.
• Fully paid land bank; pipeline ~30 msf; pipeline value ~₹19,930 crore.
• Completed projects: 22 projects (~23 msf); planned pipeline ~30 msf.

Governance & board

• Board size 10: 2 Executive, 3 Non‑Executive, 5 Independent; 1 woman director.
• FY26: Board met 7 times; Independent Directors met separately.
• Statutory auditors: M/s J.M. Parikh & Associates; Secretarial: ALAP & Co LLP; opinions unmodified.
• Audit Committee: 6 members; chaired by Sandeep M. Singhi; recommendations adopted.
• SEBI warning letter (Apr 2025) on related‑party transactions; independent external reviewer engaged.
• Dividend policy disclosed on company website.

Related party transactions

• Material RPT threshold under LODR: ₹31.62 crore; no material RPT requiring shareholder approval in FY26.
• RPT disclosures relate to Madhukamal, Gatil, MREIPL, Urbanaac, Govindbhai Patel Foundation, etc.
• RPTs reviewed by Audit Committee; all arms’‑length; no material RPTs as per Act.

CSR & ESG

• CSR spend ₹693.20 lakh; average net profit ₹68.066 million; 2% entitlement ₹68.066 lakh.
• Excess spend ₹12.54 lakh; carry forward for next year.
• CSR Committee comprises 4 members; CSR Policy published online.
• CSR activities include ongoing initiatives with CSR policy disclosure.

ESG metrics & environment

• Total energy from non‑renewables: 18,465.07 units; renewables: 0.
• Scope 1 emissions: 1,663.58 MtCO2e; Scope 2: 0.
• GHG intensity per turnover: 0.0000013 MtCO2e; PPP: 0.0000264.
• Water withdrawal: 37,620 kL; water intensity 3.0e-5 per turnover.
• CD&D waste: 13.96 MT; solar panels, EV chargers, rainwater recharge implemented.
• Trees planted along NH 8C and Hebatpur roads; ESG disclosures published.

Shareholding & capital

• Promoter group holds ~68‑70%: Dipakkumar 33.11%, Shekhar 34.97%.
• Public holding 12.38%; Trusts 7.52%; Other categories make up rest.
• Total equity shares: 83,387,090; major promoters listed above.
• Dividend record date: 31 August 2026; payout by 10 October 2026.

Dividends & investor info

• Dividend proposed: ₹1.50 per share; subject to AGM approval.
• Dividend payout timing: within 30 days of approval; typically by Oct 2026.
• Dividend policy accessible on company website.