Hubtown Limited reported consolidated profit after tax of ₹16,808 Lakhs for FY26, up from ₹5,518 Lakhs in FY25, as total revenue rose 58.24% to ₹83,291 Lakhs.

The Mumbai Metropolitan Region-focused real estate developer, established in 1989 and listed since 2007, attributed the performance to disciplined project execution, operational efficiency, and financial management. The company has completed 47 projects spanning over 12.76 million square feet of developed area and holds approximately 34.17 million square feet of development potential, including entities proposed to be merged.

Consolidated and Standalone Financial Performance

The following table summarises Hubtown's financial results for FY26 and FY25 on both a consolidated and standalone basis (₹ in Lakhs):

On a consolidated basis, profit before tax rose 95.14% to ₹18,835 Lakhs, while total comprehensive income grew 255.78% to ₹16,348 Lakhs. On a standalone basis, total revenue increased 31.76% to ₹51,017 Lakhs, profit before tax rose 9.80% to ₹12,935 Lakhs, and total comprehensive income grew 42.76% to ₹10,900 Lakhs.

Key Financial Ratios (Standalone)

Standalone key financial ratios for FY26 and FY25 are presented below:

The interest coverage ratio declined 42% to 2.40 due to an increase in finance costs. The debt equity ratio rose 30% to 0.13, reflecting a significant increase in debt compared to the previous year.

Statutory Auditor Qualification

The statutory auditors, M/s. JBTM & Associates LLP, issued a qualified opinion on both standalone and consolidated financial statements. The qualification relates to the company not having provided for interest expense amounting to ₹1,751.85 Lakhs on certain inter-corporate deposits. Consequently, finance cost for the year ended March 31, 2026 has been understated by ₹1,751.85 Lakhs, resulting in a consequential increase in profit for the year to that extent. Management stated the company is in the process of re-negotiating the terms or seeking waiver of interest from the respective lenders.

Portfolio and Project Pipeline

Hubtown's ongoing project portfolio spans residential and commercial developments across Mumbai, Pune, and Gujarat. Key ongoing projects include 25 Downtown (Mahalaxmi, 3.68 msf, 1.12 msf sold), 25 South (Prabhadevi, approximately 90% sold), and Hubtown Seasons Phase 1 (Chembur East, nearly sold out). The company is also advancing upcoming projects including Sunstream City (Mulund-Thane, 141 acres, 26.64 msf development potential) and 25 Estates Weekend Homes (Khalapur, 174 acres, 2.67 msf).

Corporate Restructuring and Merger Schemes

Hubtown is pursuing three schemes of arrangement to consolidate its corporate structure involving promoter-group and associated entities:

All schemes are subject to applicable approvals and conditions.

Regulatory and Governance Developments

The secretarial audit report noted that the Ministry of Corporate Affairs issued summons on the Executive Chairman, Managing Director, and Chief Financial Officer under Section 217(5) of the Companies Act, 2013 and initiated an investigation into the company's affairs covering financial years FY2014-15 to FY2024-25. The company stated it is extending full cooperation to investigating authorities. No dividend was recommended for FY26. The company's paid-up share capital increased from ₹1,35,60,06,570 to ₹1,42,10,06,570 following conversion of share warrants and compulsorily convertible debentures into equity shares. The 38th Annual General Meeting is scheduled for September 18, 2026.

Hubtown Limited has moved closer to completing its proposed amalgamation with Saicharan Consultancy Private Limited, with the National Company Law Tribunal (NCLT), Mumbai Bench, fixing the final hearing for August 21, 2026. The developer filed intimation of newspaper clippings on August 10, 2026, confirming that the Company Scheme Petition was admitted by the tribunal on July 16, 2026. This procedural step ensures that stakeholders are formally notified of the upcoming disposal date for the scheme of arrangement.

The merger involves Saicharan Consultancy Private Limited as the Transferor Company and Hubtown Limited as the Transferee Company. The transaction is structured under Sections 230 to 232 of the Companies Act, 2013, requiring sanction from the NCLT after considering the interests of respective shareholders and creditors. The filing serves as compliance with regulatory disclosure norms, ensuring transparency regarding the timeline for the final judicial approval.

Key Details of the Filing

The notice published in Free Press Journal and Navshakti informs interested parties that they may support or oppose the scheme by submitting their intentions to the registered offices of the petitioner companies or their professional advisors. Any opposition must be accompanied by grounds or an affidavit and must reach the petitioners no later than two days before the hearing date.

Regulatory Compliance

Hubtown Limited made this disclosure in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The filing was signed by Shivil Kapoor, Company Secretary & Compliance Officer, affirming that all necessary advertisements have been placed to notify the public and stakeholders of the impending final hearing. Copies of the Company Petition, the Scheme, and the Explanatory Statement remain available at the registered offices of both companies upon payment of prescribed fees.

What This Means for Stakeholders

The fixation of a final hearing date indicates that the NCLT has completed its preliminary scrutiny of the scheme and is prepared to consider any objections before granting final sanction. For shareholders and creditors of both entities, this marks the concluding phase of the judicial approval process. If sanctioned, the merger will result in Saicharan Consultancy Private Limited ceasing to exist as a separate legal entity, with its assets and liabilities transferring to Hubtown Limited according to the terms of the approved scheme.