hb estate developers has scheduled its 32nd Annual General Meeting (AGM) for September 9, 2026, to be conducted through video conferencing or other audio visual means. The meeting, deemed to be held at the company’s registered office in Gurugram, aims to transact ordinary business including the adoption of audited financial statements for the fiscal year ended March 31, 2026, and the re-appointment of a retiring director. This virtual format ensures broader shareholder accessibility while complying with regulatory exemptions granted by the Ministry of Corporate Affairs and SEBI.

The company has also intimated the web-link for its Integrated Annual Report for the financial year 2025-26, available on its website. In compliance with Regulation 36(1)(b) of the SEBI Listing Regulations, the report and AGM notice have been dispatched via email to registered shareholders. For those without registered emails, the exact path is provided on the company website. Additionally, the communication serves as a reminder for members holding shares in physical form to update their KYC particulars, including PAN, address, mobile number, bank account details, specimen signature, and nomination choice, as mandated by SEBI circulars.

The primary agenda item involves the re-appointment of Mr. Anil Goyal (DIN: 00001938) as a director. Mr. Goyal retires by rotation at this meeting and, being eligible, has offered himself for re-appointment. The Board of Directors recommends his re-appointment, citing his extensive experience in finance, taxation, and corporate restructuring. Mr. Goyal, a fellow member of the Institute of Chartered Accountants of India, brings over four decades of expertise to the Board.

Key Financial Highlights FY26

The AGM will also consider the adoption of standalone and consolidated audited financial statements for FY26. The company reported a Profit After Tax (PAT) of ₹1,170.38 lakhs, an increase from ₹1,079.45 lakhs in the previous year. Revenue from operations stood at ₹11,692.63 lakhs, reflecting a marginal decline of 0.65% compared to ₹11,769.55 lakhs in FY25.

The improvement in profitability despite stable revenues highlights the company’s focus on operational efficiency. Total expenses decreased to ₹10,068.77 lakhs from ₹10,406.12 lakhs, a reduction of approximately 3.24%. The Board decided not to recommend any dividend for the financial year ended March 31, 2026, to conserve resources for future growth opportunities.

Voting and Participation Details

Shareholders holding shares as of the cut-off date, September 2, 2026, are eligible to vote. Remote e-voting will commence on September 6, 2026, at 09:00 am and end on September 8, 2026, at 05:00 pm, facilitated by National Securities Depository Limited (NSDL). Members can join the AGM via video conferencing 15 minutes before and after the scheduled start time of 12:00 noon. The facility is available for 1,000 members on a first-come, first-served basis, excluding large shareholders, promoters, and institutional investors who have unrestricted access.

Institutional and corporate shareholders must submit a scanned copy of their board resolution or authorization letter to the scrutinizer, Ms. Jaya Yadav, via email from their registered address. The company has appointed Ms. Jaya Yadav and Ms. Anushree Khunteta as scrutinizers to ensure fair and transparent voting proceedings. Queries regarding the financial statements can be submitted to corporate@hbestate.com by September 3, 2026, at 05:00 pm.

Shareholder Compliance Reminder

The company urges shareholders with physical holdings to update their KYC details through the Registrar and Share Transfer Agent, RCMC Share Registry Pvt. Ltd. Updates can be submitted via the RTA web portal, post, or electronic mode with e-signature. Shareholders are also encouraged to dematerialize their physical securities at the earliest. Failure to update PAN, nomination, contact details, bank account details, and specimen signature may result in payments being received only through electronic mode.

HB Estate Developers reported a net profit of ₹1.54 crore for the quarter ended June 30, 2026, marking a 303% year-on-year increase from ₹0.38 crore in Q1FY26. The hospitality-focused developer achieved this profitability surge primarily through a significant reduction in finance costs, which fell by approximately 25%, even as revenue from operations grew by a more modest 16.8% to ₹27.75 crore. This divergence between top-line growth and bottom-line expansion highlights improved operational leverage and effective debt management during the period.

The Board of Directors, chaired by Lalit Bhasin, approved the standalone and consolidated unaudited financial results at a meeting held on August 3, 2026. The results were reviewed by the Audit Committee on the same date. Pursuant to Regulation 30 and Regulation 33(3) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the company filed the results with BSE Limited. Statutory Auditors M/s N.C. Aggarwal & Co conducted a limited review in accordance with Standard on Review Engagement (SRE) 2410 and expressed an unmodified opinion, confirming no material misstatements were found.

Financial Performance Highlights

Revenue from operations stood at ₹27.75 crore for the quarter, compared to ₹23.76 crore in Q1FY26. Other income remained relatively flat at ₹0.41 crore, slightly down from ₹0.40 crore in the previous year. Total income for the period reached ₹28.16 crore. On the expense side, total costs amounted to ₹25.68 crore, driven primarily by other expenses of ₹11.33 crore and employee benefit expenses of ₹6.42 crore.

Profit before tax surged to ₹2.48 crore from ₹0.53 crore in the corresponding quarter of FY26. The tax expense for the quarter was ₹0.94 crore, comprising deferred tax of ₹0.94 crore with no current tax provision. Earnings per share (basic and diluted) rose to ₹0.67 from ₹0.18 in Q1FY26.

What the Numbers Show

A key driver behind the sharp profitability expansion was the reduction in finance costs, which fell to ₹3.33 crore from ₹4.43 crore in Q1FY26. This cost reduction outpaced the growth in operating expenses, allowing margins to expand significantly. While revenue grew by nearly 17%, total expenses increased by only 8.7%, indicating effective cost control measures. The company continues to operate in a single reportable segment, Hospitality Business, with no discontinued operations reported.

The consolidated results mirror the standalone figures, as the associate entity, Parsvnath HB Projects Private Limited (49% shareholding), contributed nil net profit and comprehensive income for the quarter. The company noted that it has recognized the incremental impact of the new Labour Codes on employee benefits liability in the financial year ended March 31, 2026, and will continue to monitor future developments. Paid-up equity capital remains unchanged at ₹23.23 crore.