Thakkers Group Ltd has updated its disclosure regarding the proposed acquisition of 16.58% of its total share capital by promoter group members via a gift deed. The revised filing adjusts the distribution of shares among the acquirers compared to the initial announcement.

The transfer involves shares held by Jitendra Manohardas Thakker being gifted to his spouse and son. Notably, the daughter-in-law, Karishma Gaurav Thakker, is no longer listed as a transferee in this updated intimation. The total number of shares being transferred remains 262,500.

Revised Transfer Details

The acquirers are Bharti Jitendra Thakker and Gaurav Jitendra Thakker. While they are not promoters individually, they form part of the company’s promoter group. The proposed date of acquisition is on or after September 17, 2026.

Regulatory Compliance

The company filed the disclosure under Regulation 10(5) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 with BSE Limited. The advance intimation confirms that no price was paid for the shares, as the transfer is by way of gift. The rationale cited for the proposed transfer is the inter-se redistribution of holdings within the family unit.

The transaction is exempt from making an open offer under Regulation 10(1)(a)(i) of the Takeover Regulations, as it constitutes a transfer to immediate relatives within the promoter group.

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.