New Real Estate Project Announcement
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Forbes & Company announced plans to develop a 10,671 sq. meter (2.63 acre) land parcel in Thane, Maharashtra into an IT Park with retail, commercial, hospitality and office spaces under the IT/ITeS policy, subject to approvals. The company also reported Q1 FY26 (quarter ended June 30, 2025) standalone results with revenue from operations of Rs. 2,203 lakhs, down from Rs. 3,536 lakhs a year earlier, and profit after tax of Rs. 397 lakhs (vs Rs. 533 lakhs YoY), translating to EPS of Rs. 3.08. The Real Estate segment contributed Rs. 1,363 lakhs in revenue, sharply lower than Rs. 2,736 lakhs in Q1 FY25, while the Coding and Industrial Automation segment grew marginally to Rs. 840 lakhs. The company also noted its erstwhile subsidiary Forbes Technosys has entered insolvency proceedings and a Rs. 250 lakh investment impairment in Forbes Bradma Optimark (formerly Forbes Macsa).
The new Thane IT Park project signals long-term real estate growth intent, but near-term quarterly earnings weakened significantly YoY due to lower real estate revenue recognition. Shareholders may view the project announcement positively, though execution risk and pending approvals remain, while the subdued Q1 results could weigh on short-term sentiment.