Thakkers Group reported a sharp decline in profitability for FY26, with net profit falling 74% year-on-year to ₹2.05 crore. The downturn was primarily driven by a significant drop in other income, which offset gains in core business operations.

The company's revenue from operations surged 206% to ₹14.42 crore, up from ₹4.72 crore in the previous year. This growth was largely attributed to new construction contracts recognized under the percentage of completion method.

Financial Performance

Despite the robust growth in operating revenue, the bottom line contracted significantly due to volatility in non-operating income streams.

Operating expenses rose to ₹23.69 crore from ₹13.33 crore in FY25, reflecting the costs associated with executing larger project volumes.

What the Numbers Show

A critical divergence exists between the company's operational growth and its profit composition. While revenue from operations more than tripled, it accounted for only 55% of total income. Other income, dominated by interest on deposits (₹8.73 crore) and short-term capital gains (₹1.67 crore), constituted the remaining 45%. The decline in net profit was therefore driven by a ₹5.85 crore drop in these investment returns rather than operational inefficiencies.

Strategic Developments

The board highlighted progress in its real estate and hospitality verticals. Notable milestones include:

• Completion of TGL M Square, a commercial development in Nashik comprising over 100 units.
• Advancement of luxury residential projects, including The Manor at Savarkar Nagar and upcoming Mumbai redevelopments at Worli Sea Face and Santacruz West.
• Expansion into hospitality through Hotel Treat, aiming to capture premium market share in Nashik.

Governance and AGM

The company convened its 58th Annual General Meeting on September 30, 2026. Key agenda items included the reappointment of director Chetan Giridharlal Batavia and the appointment of Ashok Surana as Secretarial Auditor for five years. The board did not recommend any dividend for FY26 to conserve resources for future growth initiatives.

Thakkers Group will hold its 58th Annual General Meeting on Wednesday, September 30, 2026, at its registered office in Nashik. The register of members and share transfer books will remain closed from September 24 to September 30, 2026, to determine shareholder eligibility.

The meeting aims to transact ordinary and special business, including the adoption of audited financial statements for FY26 and the reappointment of director Chetan Giridharlal Batavia. The notice was issued pursuant to Regulation 30 read with Schedule III Part A of the SEBI (LODR) Regulations, 2015.

Key Agenda Items

The AGM notice outlines specific resolutions for shareholder approval:

• Ordinary Business: Consider and adopt the Audited Financial Statement for the financial year ended March 31, 2026. Reappoint Mr. Chetan Giridharlal Batavia (DIN: 00400700) as a director, who retires by rotation.
• Special Business: Appoint M/s. Ashok Surana, Peer Reviewed Practicing Company Secretaries, as Secretarial Auditor for five financial years commencing from FY27 till FY31. This appointment follows recommendations under Section 204 of the Companies Act, 2013, and Regulation 24A(1) of the SEBI (LODR) Regulations, 2015.

Director Profile

Chetan Giridharlal Batavia, born on September 15, 1962, brings extensive experience in real estate, estate dealing, land development, and construction activities. He has been serving as a director since July 29, 2006, and attended five board meetings during the last fiscal year. He is the father of Khushal Batavia, the company's CFO.

E-Voting and Logistics

Shareholders holding shares as on September 23, 2026, can cast their votes electronically. The remote e-voting period begins on Saturday, September 26, 2026, at 9:00 am and ends on Tuesday, September 29, 2026, at 5:00 pm. The facility is available through CDSL and NSDL platforms for demat account holders and via www.evotingindia.com for physical shareholders.

Members wishing to express views or ask questions must pre-register via email between September 16 and September 22, 2026. The Annual Report for FY26 has been emailed to registered members and is available on the company website.