India Homes Ltd

Filing context

• Issuer: India Homes Ltd; Category: Insider Trading / SAST under Reg. 29(2) of SEBI (SAST) Regulations, 2011.

Business overview

• Mumbai-focused real estate redevelopment platform; pivot from steel to real estate completed in FY26.
• End-to-end execution: approvals, design, tenant rehabilitation, construction and sales managed in-house.
• Plans to consolidate promoter land bank and projects under India Homes pending shareholder approvals.

Key operational highlights

• One-Time Settlement with J.C. Flowers ARC enabling Khopoli land development.
• Debt repaid in Nov 2025; JV MOU signed May 2025; development agreement Jul 2025.
• The Link in Andheri (100,000 sq ft) completed in 2011.
• Emgee Greens in Wadala (150,000 sq ft) completed in 2007.
• Aden Court in Matunga (125,000 sq ft) completed in 2023.
• Pipeline includes Khopoli, Wadala, Matunga, Chembur; timelines indicative.

Strategic priorities & outlook

• Accelerate regulatory approvals and progress projects toward launch.
• Maintain disciplined capital allocation; capitalize Mumbai redevelopment opportunity.
• Consolidate all projects under India Homes; seek shareholder approvals.

Capital structure & governance

• One-Time ARC settlement resolved outstanding issues; debt repayment completed.
• Promoter group holds land bank and development rights for several properties.
• Plan to consolidate all projects under India Homes pending shareholder approvals.

Risks

• Growth hinges on regulatory approvals and timely project launches.
• Shareholder approvals required for consolidation; timelines indicative.

Regulatory information request

• Notices received from Office of the Regional Director, Western Region, Mumbai-II.
• Sought information and records under Sections 210(1)(c) and 217(1)(a) of the Companies Act 2013.
• Company and group are compiling information and will furnish the records in due course.
• Regulatory update filed under SEBI LODR Regulation 30.

Meeting Details

• Date: 3 August 2026

Key Agenda Items

• Un-audited financial results for the quarter ended June 30, 2026 to be considered, approved, and taken on record

Other Notes

• Trading window closed until 48 hours after declaration of financial results

Dematerialisation status

• Dematerialisation requests for Q2 2026 were confirmed to depositories (accepted/rejected) by the registrar.
• Securities dematerialised have been listed on exchanges where earlier securities are listed.
• Physical certificates for dematerialisation were mutilated and cancelled after verification.
• Depository name substituted as registered owner within prescribed timelines.
• Period covered: Q2 2026.

Business overview

• Mumbai-focused real estate redeveloper after pivoting from stainless-steel manufacturing.
• Targets legacy and under-utilized properties in prime Mumbai micro-markets.

Operational highlights

• Signed Khopoli JV with Lloyds Group and executed development agreement.
• Rebranded to India Homes Limited and approved real estate roadmap.
• Pipeline includes Wadala, Matunga, Chembur and Khopoli projects.

Financial performance

• Q4 FY26 revenue was ₹24.48 crore, driven by real estate activities.
• Q4 FY26 EBITDA was ₹24.68 crore and PAT was ₹22.85 crore.
• FY26 revenue was ₹24.50 crore, EBITDA ₹23.35 crore and PAT ₹18.66 crore.
• FY26 results reflect the pivot from stainless-steel manufacturing to real estate.

Capital structure

• Repaid all borrowings with Kotak Mahindra Bank in September 2025.
• Reached OTS with J.C. Flowers ARC to resolve remaining secured debt.
• Management said the debt position is substantially resolved.

Strategy and outlook

• Focus is on high-margin, asset-light redevelopment in Mumbai.
• Management expects value creation from a visible launch pipeline.
• Projects are planned across Wadala, Matunga, Chembur and Khopoli.

Risks

• Project timelines and scope are indicative and may change.
• Redevelopment depends on approvals, tenant rehabilitation and construction execution.

Governance

• Managing Director Varun S. Gupta led the transformation update.
• Company changed name to India Homes Limited in November 2025.