Lake Shore Realty Reports 77% Drop in FY26 Net Profit to ₹16.41 Lakh

Lake Shore Realty Limited, formerly known as Mahaan Foods Limited, reported a 77% decline in net profit to ₹16.41 lakh for the financial year ended March 31, 2026. This significant drop is a result of lower other income and a strategic business transition from food manufacturing to real estate development.

The company recorded revenue from operations of ₹0.30 lakh, up from zero in the previous year. Other income decreased to ₹131.16 lakh from ₹135.80 lakh in FY25, leading to a total revenue of ₹131.46 lakh. The profit before tax for the year stood at ₹23.29 lakh, a substantial decrease from ₹96.85 lakh in the previous year. The company provided for current tax of ₹5.87 lakh and deferred tax of ₹0.18 lakh during the year.

The financial statements for the year reflect the company's transition in business operations. The paid-up share capital remained unchanged at ₹3,50,07,000, divided into 35,00,700 equity shares of ₹10 each.

During the financial year, the company underwent significant changes in management and control. A Share Purchase Agreement was executed on May 30, 2025, leading to the resignation of several directors and the appointment of new ones. Ms. Bhairavi Chandrakant Goswami was appointed as Managing Director, while Mr. Himanshu Dineshkumar Joshi and Mr. Ankit Dinesh Singh were appointed as CFO and Company Secretary & Compliance Officer, respectively.

The Board was reconstituted post the financial year, with Mr. Narendra Kumar Verma appointed as an Additional Independent Director effective May 15, 2026. Mrs. Ruchi Ghanashyam resigned from the Board effective April 1, 2026. The Audit, Nomination & Remuneration, and Stakeholder Relationship Committees were also reconstituted to align with the new Board composition.

The company stated that it is actively seeking viable business proposals and formulating plans for future growth. Its vision includes leading in the development and management of large-scale projects across real estate, infrastructure, hospitality, education, healthcare, and industrial warehousing sectors. The company aims to explore opportunities for growth beyond domestic borders and provide integrated turnkey services.

Lake Shore Realty Limited also informed the stock exchange about the publication of a newspaper advertisement on June 3, 2026, regarding the dispatch of its Postal Ballot Notice. The notice addresses three key resolutions: the appointment of Mr. Narendra Kumar Verma as an Independent Director, the relocation of the registered office from Delhi to Maharashtra, and the authorization of loans and guarantees up to ₹100 crore.

Central Depository Services (India) Limited (CDSL) has been engaged to facilitate the remote e-voting process. Members whose names appear in the Register of Members or List of Beneficial Owners as of May 29, 2026, are eligible to vote. The remote e-voting facility is scheduled to begin on June 3, 2026, and conclude on July 2, 2026, with results to be announced on or before July 4, 2026.

The company remains committed to its strategic transformation and is optimistic about its future in the real estate and infrastructure sectors.