GG Dandekar Properties Limited has received approval from the Hon'ble ITAT Nagpur Bench to withdraw its tax appeals for assessment years 2011-12 and 2013-14, as the company has opted to resolve the matters through the Direct Tax Vivad se Viswas Scheme 2024. The development was communicated to BSE Limited on 23 February 2026 under regulatory compliance requirements.

ITAT Appeals Withdrawal Details

The company had originally filed appeals before the ITAT Nagpur Bench challenging orders issued by the Commissioner of Income Tax. The tribunal granted permission for withdrawal after considering the company's application under the Direct Tax Vivad se Viswas Scheme 2024 for the same assessment periods.

Regulatory Disclosures and Timeline

The company has maintained transparency regarding these tax matters through regular board meeting disclosures. Previous updates were shared following board meetings held on 30 May 2024 and 12 February 2025, which were duly submitted to the stock exchange.

The decision to pursue the DTVSV scheme route demonstrates the company's strategic approach to resolving pending tax disputes through the government's settlement mechanism rather than continuing with appellate proceedings.

Current Status Under DTVSV Scheme

With the ITAT appeals now formally withdrawn, the focus shifts entirely to the Direct Tax Vivad se Viswas Scheme 2024 process. The applications for both assessment years are currently under processing by the Income Tax department.

The company has committed to providing regular updates to the stock exchange regarding any further developments in this matter as the DTVSV scheme process progresses. This approach ensures continued regulatory compliance while pursuing an alternative resolution mechanism for the outstanding tax disputes.

G.G. Dandekar Properties Limited has announced its unaudited standalone and consolidated financial results for the quarter and nine months ended 31st December 2025. The Board of Directors approved these results on 6th February 2026, following recommendations from the Audit Committee.

Financial Performance Overview

The company's quarterly performance showed mixed results across different metrics. Revenue from operations and other income components varied significantly compared to previous periods.

Nine-Month Performance Analysis

The nine-month results demonstrated stronger overall performance despite quarterly challenges. Total income for the nine months reached ₹333.39 lakhs compared to ₹296.97 lakhs in the corresponding period last year.

Exceptional Items Impact

The company reported significant exceptional items during the reporting period. For the quarter ended 31st December 2025, exceptional items showed a negative impact of ₹34.68 lakhs. However, for the nine-month period, exceptional items contributed positively with ₹360.26 lakhs.

Key exceptional items included:

• Sale of freehold land in Bhiwandi during Q1 FY26, generating net gain of ₹394.94 lakhs
• Buyback transaction with associate company NDPL during Q3 FY26, resulting in net gain of ₹232.01 lakhs offset by fair valuation impact of ₹266.70 lakhs

Expense Structure

Total expenses for the quarter amounted to ₹133.32 lakhs compared to ₹146.18 lakhs in Q3 FY25. The major expense components included depreciation and amortisation expenses of ₹64.76 lakhs, employee benefits expense of ₹20.79 lakhs, and operational expenses of ₹20.30 lakhs.

Tax Matters and Regulatory Updates

The company continues to address income tax matters related to assessment years 2011-12 and 2013-14. Applications have been filed under the Vivaad se Vishwas Scheme in January 2025 to mitigate financial risks. The company wrote back excess provision of ₹205.13 lakhs following rectification of tax demand to ₹95.06 lakhs.

Additionally, the company has evaluated the impact of new labour codes that became effective from 21st November 2025 and recognised estimated impacts in the current financial results.

Debt Position

As of 31st December 2025, the company's total financial indebtedness stood at ₹3,87,78,368, comprising loans and revolving facilities from banks and financial institutions. The company reported no defaults on outstanding amounts.

Business Focus

G.G. Dandekar Properties operates primarily in the leasing of immovable properties segment. The company maintains its registered office at MIDC Butibori Industrial Area, Nagpur, and holds ISO 9001:2008 certification.