Mahesh Developers Limited Reports Turnaround with ₹1.64 Lakh Net Profit in Q1FY26
Mahesh Developers Limited reported a net profit of ₹1.64 lakhs for Q1FY26, marking a significant turnaround from the ₹4.38 lakh loss in Q1FY25. The company's total income was ₹0.17 lakhs from other income sources, while total expenses were negative ₹2.04 lakhs. Earnings per share improved to ₹0.04 from negative ₹0.11 in the previous year. The company continues its 72% partnership in M/s Shreeji Life Space for residential redevelopment projects in Mumbai.
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Mahesh Developers Limited has announced its unaudited financial results for the first quarter of FY26, showing a marked improvement in profitability compared to the same period last year. The Mumbai-based real estate development company reported a net profit of ₹1.64 lakhs for the quarter ended June 30, 2025, representing a significant turnaround from the net loss of ₹4.38 lakhs recorded in Q1FY25.
Financial Performance Overview
The company's financial performance for Q1FY26 demonstrates a recovery trajectory across key metrics:
| Metric | Q1FY26 (₹ Lakhs) | Q4FY25 (₹ Lakhs) | Q1FY25 (₹ Lakhs) |
|---|---|---|---|
| Total Income | 0.17 | - | - |
| Total Expenses | (2.04) | (6.29) | 4.38 |
| Profit Before Tax | 2.21 | 6.29 | (4.38) |
| Net Profit After Tax | 1.64 | 5.47 | (4.38) |
| Basic EPS (₹) | 0.04 | 0.13 | (0.11) |
Revenue and Income Analysis
For Q1FY26, Mahesh Developers reported total income of ₹0.17 lakhs, which came entirely from other income sources. The company recorded no revenue from operations during the quarter, consistent with the previous quarters. This pattern reflects the company's current operational phase in the real estate development cycle.
Expense Management and Profitability
The company's expense structure showed significant changes during the quarter. Total expenses were negative ₹2.04 lakhs, primarily driven by changes in inventories of negative ₹6.67 lakhs, which offset operating costs of ₹1.67 lakhs. Other expenses amounted to ₹2.94 lakhs, while finance costs and depreciation remained minimal at ₹0.01 lakhs each.
Tax and Earnings Per Share
Mahesh Developers incurred a deferred tax expense of ₹0.58 lakhs during Q1FY26. The company's earnings per share improved to ₹0.04 for both basic and diluted calculations, compared to negative ₹0.11 in the corresponding quarter of the previous year. The paid-up equity share capital remained stable at ₹415.20 lakhs with a face value of ₹10 per share.
Partnership Operations
The company continues its partnership in M/s Shreeji Life Space, holding a 72% share in the partnership. This partnership is executing residential redevelopment projects on 10th Road, Khar West, Mumbai. The work-in-progress value of the partnership firm stood at ₹778.92 lakhs as of June 30, 2025.
Corporate Governance and Compliance
The financial results were reviewed by the Audit Committee and approved by the Board of Directors during their meeting held on January 7, 2026. The results have been prepared in accordance with Indian Accounting Standards (Ind AS) and reviewed by BHAIRAVI & ASSOCIATES, Chartered Accountants. The company operates primarily in the Civil Construction and Real Estate Development segment, with its registered office located in Khar West, Mumbai.
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