Lancor Holdings Limited has informed the Exchange about Action(s) taken or orders passed
LANCORHOL · price
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Lancor Holdings has won its Civil Appeals (Nos. 10074-10075 of 2024) at the Supreme Court against Prem Kumar Menon and others in a property development dispute dating back to 2004. The case involved a Joint Development Agreement (JDA) for the 'Menon Eternity' commercial building on St. Mary's Road, Chennai, where Lancor is entitled to 50% of the built-up area (2nd, 3rd, 4th, 5th floors and half of the 10th floor). The underlying arbitrator's award, pronounced after an unexplained delay of nearly 3 years and 8 months, was set aside by the Supreme Court, which allowed Lancor's appeals. The property has a guideline value of approximately ₹139 crores, an indicative market value of around ₹190 crores, and potential annual rental income of about ₹12 crores, compared to a book value of just ₹28.34 crores as on March 31, 2025.
This is a strongly positive outcome for shareholders as it validates Lancor's claim to a high-value commercial property, with market value roughly 6.7x its book value. Unlocking this asset's full potential — including an estimated ₹6 crores annual rental share for Lancor — could materially strengthen the company's asset base and future income, though monetization will depend on leasing and market conditions.