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TransIndia Real Estate Ltd

| Quarterly Financial Results Q3 FY 2025-26

NEUTRAL SENTIMENT

Report Source

⬤30th Jan 26

Summary : Transindia Real Estate reported Q3/9M FY26 results, approved a subsidiary merger, appointed a new director, and addressed an ongoing income tax search.

Quarterly Report Analysis & Insights

Financial Disclosures

  1. Standalone Total expenses (Q3 FY26: 16.60 Cr, 9M FY26: 35.40 Cr).
  2. Consolidated Total expenses (Q3 FY26: 15.54 Cr, 9M FY26: 43.37 Cr).
  3. Significant other expenses (Standalone 9M FY26: 17.18 Cr, Consolidated 9M FY26: 13.24 Cr).
  4. Standalone Income from operations (Q3 FY26: 11.50 Cr, 9M FY26: 35.14 Cr).
  5. Consolidated Income from operations (Q3 FY26: 21.06 Cr, 9M FY26: 62.17 Cr).
  6. Segment-wise revenue from Logistics Park and commercial properties (Standalone 9M FY26: 33.84 Cr, Consolidated 9M FY26: 60.87 Cr).
  7. Segment-wise revenue from Equipment Hiring (Non crane) (Standalone 9M FY26: 1.30 Cr, Consolidated 9M FY26: 1.30 Cr).
  8. Standalone Total segment assets (31-Dec-25): 1,364.98 Cr.
  9. Consolidated Total segment assets (31-Dec-25): 1,357.46 Cr.
  10. Standalone Total segment liabilities (31-Dec-25): 42.92 Cr.
  11. Consolidated Total segment liabilities (31-Dec-25): 60.11 Cr.
  12. Issuance of Equity Shares by Allcargo Group Services Private Limited (WOS).
  13. Property transferred from Allcargo Logistics Limited to Transindia Real Estate Limited.
  14. Both standalone and consolidated financial results are presented.
  15. Consolidated results include 2 subsidiaries with Rs. 13.85 Cr revenue and Rs. 0.62 Cr profit.
  16. Consolidated results also include 5 unaudited subsidiaries with Rs. Nil revenue and Rs. (0.24) Cr loss.

Corporate Overview

  1. Operations primarily in India, with properties in Chennai, Raigad, Krishnagiri.
  2. Income tax authorities conducted a search operation at company offices and a key managerial personnel's residence.
  3. Logistics Park and commercial properties development and management.
  4. Equipment Hiring (Non crane) services.
  5. Factual and informative, reporting board decisions and financial outcomes.
  6. Logistics Park and commercial properties.
  7. Equipment Hiring (Non crane).
  8. Merger of Madanahatti Logistics and Industrial Parks Private Limited (WOS) with Transindia Real Estate Limited approved.
  9. Issuance of Equity Shares by Allcargo Group Services Private Limited (WOS) via private placement/Preferential Issue.

Risk Factors

  1. Ongoing income tax search.
  2. Expenses from discontinued operations.
  3. Contractual obligation expenses incurred.
  4. Potential impact of tax proceedings.

Key Drivers

  1. Merger of subsidiary approved.
  2. Land acquisition compensation received.
  3. Equity shares issued by subsidiary.
  4. New non-executive director appointed.

Auditor’s Report

  1. Limited review report, expressing a conclusion, not an audit opinion.
  2. No qualifications in the report issued by the auditors.
  3. Attention drawn to Note 3 regarding the Income tax search operation.
  4. Auditor's conclusion is not modified regarding the Income tax search operation.

Board Commentary

  1. Appointment of Ms. Nishika Hegde as Additional Non-Executive, Non-Independent Director.
  2. Resignation of Ms. Shloka Shetty as Non-Executive, Non-Independent Director due to pre-occupation.
  3. Income tax search operation at company office and KMP residence.
  4. Income tax search operation by authorities under Section 132 of Income Tax Act, 1961.
  5. Company received notices under Section 158BC and 142(1) of Income Tax Act, 1961.
  6. Issuance of Equity Shares by a wholly-owned subsidiary via private placement/Preferential Issue.
  7. Approved merger of Madanahatti Logistics and Industrial Parks Private Limited with the Company.

Corporate Governance

  1. Appointment of Ms. Nishika Hegde as Non-Executive, Non-Independent Director.
  2. Ms. Nishika Hegde is not related to any Director of the Company.
  3. Audit Committee and Nomination and Remuneration Committee recommendations noted.
  4. Income tax search operation at company office and key managerial personnel.

Management Discussion & Analysis

Future Strategy

  1. Approved merger of a wholly-owned subsidiary to streamline operations.

Performance Drivers

  1. Income from operations and other income contribute to overall revenue.
  2. Exceptional items, including land acquisition compensation, impact profitability.

Risk Control Measures

  1. Company extended full cooperation to income tax authorities and filed responses.
  2. No adjustments recognized in financial statements pending final outcome of tax proceedings.

Critical Risks

  1. Ongoing income tax search operation and related proceedings.
  2. Expenses incurred from contractual obligations related to demerged undertaking.