Hubtown schedules EGM for 25 West Realty merger on June 19

Hubtown Limited has scheduled a meeting of its equity shareholders to consider the proposed scheme of arrangement for the merger of 25 West Realty Private Limited with the company. The meeting, pursuant to an order passed by the National Company Law Tribunal (NCLT), Mumbai Bench, is set to take place on Friday, June 19, 2026, at 11.00 A.M. (IST) via video conferencing or other audio-visual means.

The scheme involves the amalgamation of 25 West Realty Private Limited, a group company jointly controlled by the promoters of Hubtown Limited, with Hubtown Limited. The appointed date for the scheme is April 01, 2025. As part of the arrangement, shareholders of the transferor company will receive 42 equity shares of Hubtown Limited for every 1 fully paid-up equity share held in 25 West Realty Private Limited.

Key Meeting Details

The notice for the meeting has been dispatched to shareholders, and the facility for remote e-voting will be available from June 16, 2026, to June 18, 2026. The cut-off date to determine shareholder entitlement for voting and attending the meeting is June 12, 2026. The NCLT has dispensed with the requirement of convening meetings for the secured and unsecured creditors of Hubtown Limited.

Share Entitlement Ratio

The board of directors of both companies approved the share swap ratio based on a valuation report dated June 30, 2025, issued by Shashank Maloo, Registered Valuer, and a fairness opinion report issued by 3Dimension Capital Services Limited. The exchange ratio is as follows:

Parameter Details Transferor Company 25 West Realty Private Limited Transferee Company Hubtown Limited Share Entitlement Ratio 42:1 Face Value INR 10 each

Corporate Approvals

The boards of both Hubtown Limited and 25 West Realty Private Limited approved the scheme on June 30, 2025. The stock exchanges, BSE Limited and National Stock Exchange of India Limited, have issued observation letters dated November 14, 2025, with no adverse observations regarding the scheme. The merger is subject to the final sanction of the NCLT and other regulatory approvals.

Hubtown Limited has announced its financial results for the fourth quarter and full year ended March 31, 2026, reporting strong growth across key metrics. The company posted proforma pre-sales of Rs. 4,382 crore and proforma collections of Rs. 1,910 crore for FY26, while consolidated Profit After Tax surged 205% year-on-year to Rs. 168 crore. The Board of Directors, at its meeting held on May 14, 2026 (commencing at 6:00 PM and concluding at 8:25 PM), approved the Standalone and Consolidated Audited Financial Results for the quarter and year ended March 31, 2026, in accordance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Consolidated Financial Performance

Hubtown delivered robust year-on-year growth across its consolidated financials for FY26. Revenue from Operations rose 58% to Rs. 644 crore, while Total Income grew 58% to Rs. 833 crore. Profit Before Tax nearly doubled, rising 95% to Rs. 188 crore, with PBT margin expanding to 29% from 24% in FY25. PAT margin improved significantly to 26% from 14% in the prior year. The following table summarises the consolidated financial highlights:

Particulars (Rs. Crore): FY26 FY25 YoY% Revenue from Operations: 644 408 58% Total Income: 833 526 58% PBT: 188 97 95% PBT Margin %: 29% 24% — Less: Tax: 20 41 — PAT: 168 55 205% PAT Margin %: 26% 14% —

Q4 FY26 Highlights

For the fourth quarter, Hubtown reported Total Income of Rs. 203 crore, reflecting growth of 44% year-on-year. Profit Before Tax for the quarter stood at Rs. 36 crore, a growth of 8% year-on-year.

Proforma Operational Highlights

On a proforma basis — which includes proposed merger entities namely Distinctive Realty Private Limited, Amazia Developers Private Limited, and Nitant Real Estate Private Limited (which directly or indirectly hold 25 South Reality Limited and 25 Downtown Realty Limited), as well as 25 West Realty Private Limited and Saicharan Consultancy Private Limited — the company reported the following operational metrics:

Metric: FY26 Proforma Pre-sales: Rs. 4,382 Crore Proforma Collections: Rs. 1,910 Crore Proforma Unrecognized Revenue: Rs. 11,365 Crore

The proforma unrecognized revenue of Rs. 11,365 crore provides strong visibility on near-term cash flows, according to the company.

Board Approvals: Auditor Appointments for FY 2026-27

At the same board meeting, the directors also approved key auditor appointments for FY 2026-27 based on the recommendation of the Audit and Compliance Committee. The details of the appointments are as follows:

Parameter: Internal Auditor Cost Auditor Name: M/s. Pipara & Co. LLP, Chartered Accountants M/s. Shekhar Joshi & Co., Cost Accountants FRN: 107929W/W100219 100448 Appointment For: FY 2026-27 FY 2026-27

M/s. Pipara & Co. LLP is a professionally managed firm established in 1982, with expertise in Auditing & Assurance, Direct Tax Consultancy, SAP Consultancy, and Management Consultancy services. M/s. Shekhar Joshi & Co. has been appointed as Cost Auditors for the financial year.

Management Commentary

Commenting on the performance, Mr. Vyomesh Shah, MD & Co-Founder of Hubtown Limited, said, "During FY26, demand experienced some moderation amid broader macroeconomic headwinds, however, we continued to build steady momentum across our premium and luxury residential portfolio in the MMR region."

Mr. Shah further noted progress on strategic consolidation initiatives, including receiving NCLT approval for the amalgamation of 25 West Realty Private Limited — developing the 25 West project in Bandra West, Mumbai — and Saicharan Consultancy Private Limited, which holds a stake in Rare Townships Private Limited, the entity developing the Rising City Project in Ghatkopar, Mumbai. Approvals are awaited for the merger of entities developing the 25 South project and holding a stake in the 25 Downtown project. The company currently owns 72.22% of Rare Townships Private Limited, while Saicharan Consultancy Private Limited holds 20.95%.

Looking ahead, Mr. Shah stated the company is targeting pre-sales including merger entities of Rs. 6,000 crore and cash collections of Rs. 3,000 crore in FY27, supported by planned launches of subsequent phases in projects such as 25 West and 25 Downtown, along with premium offerings across Mumbai and Thane.

Trading Window Update

Following the declaration of audited financial results at the board meeting on May 14, 2026, the Trading Window for dealing in the company's securities by its Directors, designated employees, and connected persons will reopen on May 16, 2026, in compliance with the SEBI (Prohibition of Insider Trading) Regulations, 2015.

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