Reg. 34(1) Annual Report of B-Right Realestate Limited for the Financial Year 2024-25.
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B-Right Realestate Limited submitted its 18th Annual Report along with the AGM Notice for FY 2024-25; the AGM is scheduled for September 27, 2025, in Mumbai. Consolidated revenue jumped sharply to ₹103.43 Cr from ₹40.90 Cr in FY 2023-24, a growth of about 153%. EBITDA rose to ₹14.54 Cr from ₹11.20 Cr, but the EBITDA margin actually compressed meaningfully — from roughly 27% last year to about 14% this year — indicating that costs scaled faster than revenue. Profit before tax was nearly flat at ₹8.38 Cr versus ₹8.63 Cr previously, even as total income doubled. The AGM notice includes resolutions to redesignate Sanjay Nathalal Shah from Whole Time Director to Chairman and Managing Director, to approve his remuneration exceeding 5% of net profits (capped at ₹200 lakhs per annum), to appoint M/s. DSM & Associates as the new Secretarial Auditor, and to authorise acceptance of fixed deposits up to ~₹49 Cr from members and the public. The company also reported 11 acquired projects with expected Gross Development Value of about ₹1,090 Cr and a healthy debt-to-equity ratio of 0.169x.
While top-line growth is strong and signals expansion in the Mumbai redevelopment and construction business, the sharp drop in EBITDA margin is a red flag that investors should weigh against headline revenue. Shareholders are being asked to approve a leadership upgrade to Chairman-cum-MD and excess managerial remuneration; the AGM vote is worth tracking as it affects governance and promoter compensation.