G. G. Dandekar Properties Q2 Profit Boosted by Land Sale

Standalone net profit stood at Rs 1.84 crore; revenue reached Rs 1.01 crore for the quarter ended September 30, 2026.

Reader Takeaway: Asset liquidation provided a significant bottom-line boost, though tax litigation and pending statutory dues pose regulatory risks.

What just happened

G. G. Dandekar Properties Ltd has reported its unaudited financial results for the quarter ending September 30, 2026. The firm posted a standalone net profit of Rs 1.84 crore, a turnaround from the Rs 0.24 crore loss reported in the corresponding quarter of the previous year. Revenue from operations rose to Rs 1.01 crore from Rs 0.82 crore a year ago.

Why this matters

The profitability spike is primarily attributed to a one-time exceptional gain of Rs 2.01 crore resulting from the sale of 1,800 square meters of freehold land in Bhiwandi. As the company operates solely in the leasing of immovable properties, this asset sale significantly impacts the quarterly bottom line.

Risks to watch

The company is currently contesting tax penalties totaling Rs 0.86 crore for the assessment years 2011-12 and 2013-14. Management has formally appealed these orders, as they dispute the liabilities. Furthermore, independent auditors flagged unpaid statutory dues amounting to Rs 2.47 lakh for the period between September 2025 and September 2026. Management has attributed these delays to technical issues with the Electronic Challan cum Return facility and has earmarked funds to settle these amounts once the technical hurdles are resolved.

What to track next

Investors should closely watch the outcome of the tax appeals and the company's progress in clearing the pending statutory payments to ensure full regulatory compliance. The company continues to maintain a singular focus on property leasing.