BSE: 519612
LAKE SHORE REALTY LIMITED
Underwent a change of control in May 2025 when new promoters acquired a controlling stake of Mahaan Foods Limited, which was then renamed Lake Shore Realty Limited. The new management has pivoted the business from dairy and pharma products to real estate, infrastructure, hospitality, healthcare and warehousing, targeting Mumbai micro-markets. As of FY26, the entity had no revenue from operations — total income of Rs 131.46 lakhs (down from Rs 135.80 lakhs in FY25) came entirely from interest income. Q1 FY27 followed the same pattern: total revenue of Rs 36.00 lakh versus nil revenue from operations. Net profit for FY26 was Rs 16.49 lakhs, down from Rs 72.85 lakhs the prior year, primarily due to a decline in other income. Shareholders approved lending up to Rs 100 crore to subsidiaries, associates, joint ventures or group entities under Section 185 of the Companies Act. Certain fixed assets were written off because they could not be physically traced after the ownership change. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Other income (interest income) (100%). Transitional shell-like entity pivoting from food/dairy to realty after a May 2025 change of control
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · standalone | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 0 | 0 | 0 | 0 | 0 |
| EBITDA (ex other income) | (0) | (0) | (0) | (0) | (1) |
| margin % | — | — | — | — | (35930.0) |
| Owners' profit | 0 | 1 | 1 | 1 | 0 |
| EPS, as reported (₹) | 0.44 | 1.66 | 1.89 | 2.08 | 0.47 |
| ROE % · ROCE % | 0.8 · 1.1 | 3.1 · 4.2 | 3.4 · 4.5 | 3.6 · 4.8 | 0.8 · 1.1 |
| Debt / equity (x) | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Cash from operations | 0 | (1) | (1) | (1) | 0 |
| Capex | 0 | 0 | 0 | 0 | 0 |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 | Q2 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Profit before tax | 0 | 0 | 0 | (0) | 0 | 0 | 0 | 0 |
| Net profit | 0 | 0 | 0 | (0) | 0 | (0) | 0 | 0 |
| EPS (₹) | 0.51 | 0.63 | 0.05 | (0.29) | 0.43 | 0.16 | 0.54 | 0.54 |
Exhibit 3: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| NESTLE INDIA LIMITED | 2,47,227 | 60.6 | 42.79 | 46.4 | 34.1 | 29.8 | — | 23.8 |
| BRITANNIA INDUSTRIES LTD | 1,15,271 | 43.2 | 26.90 | 32.8 | 30.8 | 38.9 | 7.8 | 18.3 |
| ZYDUS WELLNESS LIMITED | 15,000 | 79.7 | 2.57 | 35.5 | 3.4 | 2.4 | 16.2 | 16.8 |
| BIKAJI FOODS INTERN LTD | 11,960 | 46.3 | 7.00 | 29.5 | 14.9 | 18.3 | — | 13.5 |
| BOMBAY BURMAH TRADING COR | 8,966 | 7.0 | 0.93 | 2.9 | 26.0 | 33.5 | 7.8 | 16.1 |
| MRS BECTORS FOOD SPE LTD | 6,449 | 40.9 | 4.84 | 25.4 | 6.3 | 7.4 | 18.3 | 13.1 |
| GOPAL SNACKS LIMITED | 3,056 | 29.4 | 5.68 | — | 10.9 | 13.8 | — | 9.0 |
| ADF FOODS LIMITED | 2,693 | 29.1 | 4.43 | 20.2 | 7.0 | 8.6 | 13.1 | 19.4 |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 34.7 | 31.8 | 23 of 37 | 39% |
| P/B | 1.0 | 2.7 | 10 of 35 | 74% |
| ROCE | 2.8 | 4.8 | 23 of 38 | 41% |
| ROE | 2.1 | 3.8 | 23 of 33 | 31% |
| Debt / Equity | 0.0 | 0.1 | 1 of 34 | 85% |
| EBITDA margin | (113.3) | 7.5 | 40 of 40 | 0% |
| Profit growth | 344.8 | 1.6 | 3 of 33 | 94% |
| Market cap | 20 | 94 | 36 of 43 | 17% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | Next day % | 5-day % |
|---|---|---|---|---|
| 4 Nov 2026 · Lake Shore Realty posts Rs 24.21 lakh standalone quarterly profit | compliance | minimal | — | — |
| 2 Nov 2026 · Leadership changes, Mumbai office shift and Rs 24.21 lakh September quarter profit | general | low | — | — |
| 2 Nov 2026 · Vinit Kumar named managing director; September-quarter profit rises to Rs 24.21 lakh | compliance | minimal | — | — |
| 2 Nov 2026 · Vinit Kumar appointed Managing Director; Bhairavi Goswami redesignated | management changes | medium | — | — |
| 2 Nov 2026 · Standalone Sep quarter revenue Rs 5.72 lakh versus nil; profit after tax Rs 24.21 lakh versus loss | results | high | — | — |
| 2 Nov 2026 · Board approves leadership changes and Rs 24.21 lakh quarterly profit | board shareholder meetings | low | — | — |
| 29 Oct 2026 · Board to approve September 2026 quarterly and half-year results | board shareholder meetings | low | — | — |
| 13 Oct 2026 · Revised FY26 results, XBRL correction, postal ballot on office shift and loans | results | medium | — | — |
| 6 Oct 2026 · Registered office shift from Delhi to Mumbai approved | regulatory legal | medium | — | — |
| 5 Oct 2026 · Share transfer agent confirms dematerialisation compliance for September 2026 quarter | compliance | minimal | — | — |
How to read this document
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions | an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
Sources, method and disclosures
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.