Landmark Property Development shareholders approved the audited financial statements for FY26 and the re-appointment of Sharmila Dalmia as Director during the company's 50th Annual General Meeting held on September 21, 2026. The resolutions passed with overwhelming majority support from remote e-voting participants.

The virtual meeting was conducted via Video Conferencing in compliance with SEBI Listing Obligations and Disclosure Requirements Regulations, 2015. A total of 129 members attended the session, while remote e-voting was open from September 18 to September 20, 2026. Rahul Dhupar served as the scrutinizer for the voting process.

Voting Results Breakdown

The scrutiny report released by RD & Associates detailed the voting outcomes for the three ordinary resolutions proposed at the meeting. The results indicate strong shareholder confidence in the management's proposals.

Key Approvals

Shareholders voted on three ordinary resolutions:

• Adoption of audited financial statements for the financial year ended March 31, 2026.
• Re-appointment of Sharmila Dalmia as a Director upon retirement by rotation.
• Approval for an extension of the timeline for refund of outstanding amounts by Eterna Living Private Limited.

Chairman Ambarish Chatterjee presided over the meeting, confirming that the requisite quorum was present. Directors Gaurav Dalmia, D N Singh, and Uddhav Poddar attended, while Ajay Gulati and Sharmila Dalmia were absent due to business commitments. Statutory Auditors V Sankar Aiyar & Co and Secretarial Auditors RD and Associates also participated in the proceedings.

What the Numbers Show

A significant divergence is visible in the voting patterns between the routine administrative resolutions and the specific business item concerning Eterna Living Private Limited. While the adoption of financials and director re-appointment saw near-unanimous support with less than 0.05% opposition, the resolution regarding the extension of the refund timeline for Eterna Living received 1.42% votes against. Notably, the total valid votes cast for the Eterna Living resolution were significantly lower (1.86 million) compared to the other two items (approx. 88.7 million), suggesting that a large portion of the shareholder base, particularly the promoter group holding 87 million shares, abstained from voting on this specific related-party matter.

Landmark Property Development Company Limited has filed its annual report for FY26, reporting a net profit of ₹149.42 lakh against a loss of ₹372.15 lakh in the previous year. The company also scheduled its 50th Annual General Meeting (AGM) for September 21, 2026, seeking approval for an extension of the refund timeline from related party Eterna Living Private Limited.

The financial results reflect a significant turnaround driven by higher revenue from operations and reduced provisions. Revenue from operations rose to ₹734.86 lakh in FY26, up from ₹117.30 lakh in FY25. This increase was primarily due to sales of flats and plots. Other income stood at ₹81.55 lakh, contributing to the overall profitability.

Financial Performance

The company’s total income reached ₹816.41 lakh in FY26, compared to ₹176.58 lakh in FY25. Total expenses were ₹618.13 lakh, down from ₹533.08 lakh in the prior year, although this includes a decrease in inventory changes rather than a reduction in operational costs. Notably, the provision for expected credit loss on advances/loans was zero in FY26, compared to ₹400.00 lakh in FY25, significantly impacting the bottom line.

Eterna Living Refund Extension

A key agenda item for the upcoming AGM is the approval for extending the timeline for the refund of outstanding amounts by Eterna Living Private Limited (formerly Ansal Landmark (Karnal) Township Private Limited). Under a Refund and Settlement Agreement dated March 27, 2026, Eterna agreed to refund ₹35.26 crore.

Eterna has paid an aggregate amount of ₹8.15 crore towards this obligation. The balance amount of ₹27.11 crore was originally due by September 26, 2026. The Board recommends extending this deadline to March 31, 2027, citing delays in Eterna’s realization of funds from another group housing sale transaction due to pending government approvals.

AGM Details

The 50th AGM will be held on Monday, September 21, 2026, at 11:30 am via Video Conferencing or Other Audio-Visual Means (VC/OAVM). Shareholders holding shares as of the cut-off date will be eligible to vote electronically.

• Eligibility Cut-off Date: September 14, 2026
• E-voting Commencement: September 18, 2026, at 9:00 am
• E-voting Conclusion: September 20, 2026, at 5:00 pm

Mr. Rahul Dhupar, a Practicing Company Secretary, has been appointed as the Scrutinizer for the voting process. The meeting aims to transact ordinary business, including the adoption of audited financial statements, and special business regarding the Eterna refund extension.

What the Numbers Show

The shift from a net loss to a net profit is largely attributable to the absence of a ₹400 lakh provision for expected credit losses that impacted FY25 results. While revenue growth is substantial, the profit margin expansion is disproportionately high relative to top-line growth, indicating that cost controls and non-recurring accounting adjustments played a pivotal role in the current year's performance. The company’s cash position strengthened significantly, with cash and cash equivalents rising to ₹99.93 lakh from ₹3.46 lakh in the previous year.

Source: https://lodr-files.dhan.co/lodr-inputs/Company/INE197J01017/2634197f-aabc-4b8f-8754-299362d9f5d3.pdf