Ganesh Housing shareholders approved a final dividend of ₹1.50 per equity share for FY26 at its 35th annual general meeting held on September 11, 2026. The resolution passed with near-unanimous support, reflecting strong backing for the company's capital return plan.

The meeting also saw the reappointment of three retiring directors: Dipakkumar G. Patel, Anmol D. Patel, and Amanvir S. Patel. All three resolutions were approved by ordinary majority.

Voting Participation and Results

Total votes polled stood at 68,460,774, representing 82.10% of the outstanding shares held by members entitled to vote as on the cutoff date of August 31, 2026. The promoter group, holding 60,922,084 shares, participated heavily via remote e-voting, casting votes on 97.32% of their holdings for non-related-party resolutions.

Related-Party Transactions

The agenda included seven material related-party transactions involving group companies and promoter entities. In compliance with regulatory norms, the promoter group abstained from voting on these items. Consequently, the outcome depended entirely on non-promoter shareholders.

Public institutions voted against several transactions, including those with Madhukamal Real Estate Investment Private Limited and Mahavir (Thaltej) Complex Private Limited. However, strong support from non-institutional public shareholders ensured all related-party resolutions passed.

• Transactions with group entities received 96.52% approval from eligible votes.
• Deals involving promoter individuals secured 96.50% approval.
• The transaction with Urbanaac Infrastructure Private Limited garnered nearly unanimous support at 99.99%.

What the Numbers Show

The voting pattern highlights a clear divergence between institutional and retail shareholder sentiment on related-party dealings. While public institutions voted against over 98% of certain promoter-linked transactions, non-institutional public shareholders voted in favour at rates exceeding 99.99%. This suggests that retail investors remain aligned with management's strategic partnerships, whereas institutional holders may be exercising greater scrutiny on specific deal structures.

Ganesh Housing has released comprehensive instructions for shareholders regarding the tax implications of its proposed final dividend for the financial year ending March 31, 2026 (FY26). The Board of Directors recommended a dividend of ₹1.50 per equity share of face value ₹10 each during its meeting on May 29, 2026. This payout is subject to approval by shareholders at the ensuing Annual General Meeting (AGM).

The company emphasized that under the Income Tax Act, 2025, dividends distributed after April 1, 2020, are taxable in the hands of the recipients. Consequently, Ganesh Housing will deduct tax at source (TDS) at applicable rates when paying the dividend for Tax Year (TY) 2026-27. Shareholders must submit necessary declarations and documents by specific deadlines to ensure correct tax deduction or exemption.

TDS Rates for Resident Shareholders

For resident shareholders, the standard TDS rate is 10% on the dividend amount, unless an exemption applies. Individuals receiving aggregate dividends not exceeding ₹10,000 during TY 2026-27 are exempt from TDS. Additionally, individual residents can claim a nil TDS rate by submitting a valid Form 121, certifying that their total income does not exceed the basic exemption limit or that they have no tax liability.

Other resident entities eligible for nil TDS include mutual funds specified under Schedule VII, insurance companies exempted under Section 393(4), Alternative Investment Funds (AIFs) registered with SEBI, and entities exempt under Section 393(6). These entities must provide self-declarations and relevant registration certificates.

Shareholders without a valid PAN, or those who have not linked their PAN with Aadhaar, will face a higher TDS rate of 20%. The company noted that PAN linkage with Aadhaar is mandatory as per Section 206AA of the Act, with non-compliant PANs deemed invalid.

Key Deadlines for Documentation

To avail of lower or nil TDS rates, shareholders must adhere to strict submission timelines:

• Email Submission Deadline: Shareholders must email required documents, such as Form 121, Tax Residency Certificates (TRC), or lower tax certificates, to secretarial@ganeshhousing.com on or before August 29, 2026.
• Record Date: All declarations and documents must reach the Registrar and Transfer Agent, MCS Share Transfer Agent Ltd, on or before August 31, 2026. Forms received after this date or those that are incomplete will not be considered for tax exemptions.

Non-Resident Shareholder Guidelines

Non-resident shareholders, including Foreign Institutional Investors (FIIs) and Foreign Portfolio Investors (FPIs), are subject to a TDS rate of 20% plus applicable surcharge and cess. However, they may opt for the lower rate provided under the Double Taxation Avoidance Agreement (DTAA) between India and their country of residence.

To claim DTAA benefits, non-resident shareholders must compulsorily submit:

• A valid Tax Residency Certificate (TRC).
• A filed Form 41 online via the income tax e-portal.
• A self-declaration form (Annexure-2).
• SEBI registration certificates for FPIs/FIIs.

The company retains sole discretion to apply domestic TDS rates if documentation is incomplete or unsatisfactory. Non-residents who are tax residents of Notified Jurisdictional Areas face a higher TDS rate of 30%.

What the Numbers Show

The dividend recommendation of ₹1.50 per share on a face value of ₹10 implies a payout ratio of 15% relative to the nominal value of the equity shares. While the absolute dividend amount is modest, the explicit communication on TDS procedures highlights the regulatory compliance burden on retail and institutional investors alike. The strict deadline of August 29, 2026, for document submission underscores the operational timeline required for the company to process withholdings before the record date of August 31, 2026.