MAC CHARLES (INDIA) LTD.

Operates as an office rental business with a small wind-power arm. The FY26 Business Responsibility and Sustainability Report states the business mix is 92.2% rental income and 7.8% windmill power, with FY26 turnover of Rs 1,103 million. Although the company is classified under Hotels & Resorts and earlier segment data (through December 2021) included a Hotel subsidiary line, the hotel business no longer appears in segment reporting from 2022 onwards. It has 4 wholly-owned subsidiaries, 22 employees and a 6-member board, with Embassy Property Developments holding 73.41% of the equity. The dominant cost line is finance cost of Rs 1,195.66 million, well above the Rs 1,103.04 million of revenue from operations, and a one-time Rs 607.20 million prepayment penalty on refinancing ICICI Bank and Hero FinCorp term loans via a new SBI facility drove a consolidated loss after tax of Rs 1,162.78 million. A Scheme of Arrangement to demerge the real estate business into Embassy Prism Ventures Limited was approved by shareholders in February 2026 and is pending NCLT clearance. The company has listed non-convertible debentures with a total obligation of Rs 902.52 million, against which secured assets of Rs 4,958.08 million are pledged, giving a 5.49x security cover.