38th Annual Report of Hubtown Limited

Annual Report 2025-26 ontents C ’ m hairman s essage orporate verview orporate nformation m D a anagement isCussion anD nalysis D ’ r ireCtors eport C g r orporate overnanCe eport inanCial tatements 38 a g m n th nnual eneral eeting otiCe Caution regarding forward-looking statements This document contains statements about expected future events and financial and operating results of Hubtown Limited, which are forward-looking. By their nature, forward-looking statements require the Company to make assumptions and are subject to inherent risk and uncertainties. There is significant risk that the assumptions, predictions and other forward-looking statements will not prove to be accurate. Readers are cautioned not to place undue reliance on forward-looking statements as a number of factors could cause assumptions, actual future results and events to differ materially from those expressed in the forward-looking statements. Accordingly, this document is subject to the disclaimer and qualified in its entirety by assumptions, qualifications and risk factors referred to in the management’s discussion and analysis of the Hubtown Limited annual report 2025-26. 38th ANNUAL REPORT 2025-26 1 C ’ m hairman s essage Dear Shareholders, It gives me immense pleasure to present to you the Annual Report of Hubtown Limited for the financial year 2025–26. I would like to express my sincere gratitude to our shareholders, customers, lenders, business partners, employees, and all other stakeholders for their continued trust, confidence, and support. The financial year 2025–26 was a year of focused execution, strategic consolidation, and continued efforts towards strengthening the Company’s business fundamentals. Despite the evolving economic environment and the dynamic nature of the real estate sector, Hubtown Limited remained committed to creating sustainable value through disciplined execution, prudent financial management, and a clear focus on its core strengths. During the year under review, the Company on consolidated basis recorded total revenue of ₹83,291 Lakhs and Profit After Tax of ₹16,808 Lakhs, as compared with ₹52,635 Lakhs and ₹5,518 Lakhs, respectively, in the previous financial year. The Company’s continued focus on operational efficiency, financial discipline, and project execution has contributed towards strengthening its overall business position. The real estate sector continues to remain an important contributor to India’s economic growth. The sector is witnessing structural transformation driven by urbanisation, infrastructure development, improving consumer confidence, and evolving housing preferences. We believe that these favourable long-term fundamentals present significant opportunities for well-established and financially disciplined real estate companies. At Hubtown, Our ongoing projects continue to progress with a strong emphasis on execution, regulatory compliance, timely delivery, and value creation for all stakeholders. We remain committed to leveraging our experience and capabilities to identify and develop opportunities that offer sustainable and long-term value. During the year, the Company also continued to advance its strategic initiatives of growth through amalgamation and mergers. The proposed schemes of merger and amalgamation involving the Company and other entities are intended to strengthen the Company’s platform for future growth. We believe that these initiatives, subject to the necessary regulatory and statutory approvals, will contribute towards creating a more integrated and efficient organisation and enhance long- term stakeholder value Our approach to growth remains balanced and responsible. We continue to evaluate opportunities that are aligned with our strategic objectives while maintaining a disciplined approach to capital allocation and risk management. Our priority is to strengthen the Company’s financial position, improve operational efficiency, and create a sustainable foundation for future growth. Looking ahead, we remain optimistic about the long-term prospects of the Indian economy and the real estate sector. We will continue to focus on execution, financial discipline, strategic growth, and strengthening our relationships with customers and stakeholders. Our objective is to build a resilient and future-ready organisation that is capable of responding effectively to emerging opportunities while navigating the challenges of a dynamic business environment. I thank our shareholders for their continued faith in Hubtown Limited. Your trust is our greatest strength, and we remain committed to upholding it through responsible governance, transparent practices, and sustainable value creation. Best wishes, Hemant M Shah, Chairman Hubtown Limited 38th ANNUAL REPORT 2025-26 2 orporate verview HUBTOWN LIMITED: THE JOURNEY OF A REAL ESTATE INNOVATOR Hubtown Limited, established in 1989 and listed on the NSE and BSE since 2007, is a real estate developer with a focused presence in the Mumbai Metropolitan Region (MMR). The Company has more than 35 years of track record and capabilities spanning land management, design and development, operations and sales. Its portfolio includes premium residential and commercial developments, rehabilitation and urban renewal projects, and public- private partnership (PPP) projects. As of March 31, 2026, the Company (including entities proposed to be merged) has a development potential of approximately 34.17 million square feet (msf), 346.94 acres of land reserve, 12.76 msf of completed projects, 7.13 msf of ongoing projects and 9.20 msf of rehabilitation area. The Company has delivered 47 developments and maintains end-to-end delivery capabilities across the project lifecycle. BUSINESS SEGMENTS AND CAPABILITIES Hubtown operates across residential and commercial, industrial and infrastructure segments. The Company has constructed 29 residential projects, covering premium to affordable housing across Mumbai and Pune, and has constructed 15+ office, industrial and infrastructure projects across Mumbai, Pune and Gujarat. Its experience includes built-to-suit office spaces, IT parks, government staff quarters and bus terminals. Segment Completed Ongoing Forthcoming Residential 5.43 msf 5.51 msf 14.13 msf Commercial / Industrial / Infrastructure 7.33 msf 1.62 msf 20.04 msf STRATEGIC GROWTH DRIVERS • Focused presence in the Mumbai Metropolitan Region, with key premium residential projects in established micro-markets. • Development of existing land reserves and forthcoming projects, including premium projects, second homes / villas and commercial developments. • Continued focus on debt reduction, supported by cash generation from existing projects and monetization of land banks. • Consolidation of the corporate structure through the proposed merger schemes. • Expansion of the project pipeline through ongoing and forthcoming developments with substantial development potential. • Leveraging experience in slum rehabilitation, urban renewal, affordable housing and PPP projects. EXPERIENCE IN SLUM REHABILITATION AND PPP PROJECTS Hubtown has experience across the full project lifecycle, from conceptualization to delivery, including public and private slum rehabilitation, urban renewal and PPP-led development. The Company has delivered 6.69 msf of redeveloped slum area across Mumbai and has 2 ongoing and 2 forthcoming slum rehabilitation projects. The Company's PPP experience includes projects with the Public Works Department, Government of Maharashtra; Municipal Corporation of Greater Mumbai; Gujarat Government and GSRTC; as well as projects involving affordable housing and integrated textile park development. CORPORATE RESTRUCTURING AND MERGER INITIATIVES The Company is pursuing consolidation of its corporate structure through three separate schemes of arrangement involving promoter-group / associated entities. The stated objective is to consolidate the relevant project interests and strengthen the Comp [Showing first 8,000 characters — download PDF for full document]