- Landmark Property Development Company is a real estate firm - incorporated in 1976 and listed in India as part of the Landmark Dalmia Group, the company is engaged in the business of real estate development and also providing advisory and consultancy services, and it continues to sell flats and plots. The recurring approach is simple: the company holds claims on property and money from past transactions, and its work now consists of converting those claims into cash through negotiated settlements rather than through new sales.
Business segments
A single business in wind-down - real estate asset recovery, with a small advisory sideline - where every activity is about collecting on old promises rather than creating new ones.
1. Real estate asset recovery: collecting on yesterday's deals
The company's real work is not selling homes but recovering a ₹35 crore advance stuck in a township project and settling defaulted loans - it is a collection operation, not a developer.
- One big receivable dominates everything - the company is owed ₹35.26 crore from Ansal Landmark (Karnal) Township Private Limited, a related entity now owned by the company's promoters, for plots and flats in a Karnal township that were supposed to be delivered by 2024 but never were. The deadline for allotment has been pushed to 2027, and in March 2026 the company instead signed a refund agreement with Eterna Living Private Limited to get the cash back within six months.
- Loans that went bad, now being settled - the company had lent ₹550 lakhs to Saya Buildcon Consortium Private Limited at high interest rates, but both loans were overdue and fully provided for as doubtful. In July 2026, it executed a full and final settlement that released all claims and closed the legal proceedings, with the principal already repaid before the papers were signed.
- A small inventory of ready flats and plots - the company still holds stock of plots and flats valued at about ₹10.70 crore, and it recognises revenue only when possession is handed over to the buyer. This is the legacy of its original business, but it is no longer the engine - it is the tail end of a pipeline that is not being replenished.
- No new projects, no new bets - the company has no subsidiaries, no joint ventures, and no immovable property on its own books, and its fixed assets are negligible at just ₹0.32 lakhs. It is not building anything new; it is simply working through what it is already owed.
2. Advisory services: a small fee stream for investment reports
The company earns fees by preparing investment reports and business plans for overseas investors - a lightweight service business that has run alongside property for over a decade.
- Paid to prepare investment dossiers - the company provides advisory services to overseas investors, delivering investment reports that cover the financial and economic angles of a proposed investment, along with a business plan and any other information the client asks for. The fee is mutually agreed for each assignment, and revenue is recognised as the work is completed.
- A sideline, not the main event - this service line has existed since at least 2009, but it sits within the same single operating segment as the property business and is not reported separately. It generates fees but does not change the fundamental character of the company as a real-estate-recovery story.
Group structure and partners
The company is a standalone entity with no subsidiaries, controlled by a promoter group that also owns the entity holding its largest receivable - so the recovery is effectively a negotiation with related parties.
- Promoters and friends hold 64.86% of the equity, and the Managing Director, Gaurav Dalmia, is married to a fellow director on the board.
- The company has no subsidiary, joint venture, or associate company - it is a single legal entity with no corporate children.
- The entity that owes the company ₹49.94 crore - Ansal Landmark (Karnal) Township Private Limited - was acquired by the promoter and promoter group entities during FY 2022-23, making the recovery a transaction between entities under common control.
- In 2023, four promoter-group entities holding 0.24% of shares were reclassified as public shareholders with stock-exchange approval, trimming the promoter holding slightly.