Company: INTG
Filing Date: 2025-11-12
Form Type: 10-Q
Source: 0001493152-25-021858
Chunk: 96

Company: INTERGROUP CORP
Filing Date: 2025-11-12
Form: 10-Q
Item: Part I, Item 8
Chunk 96
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Real
Estate Operations

Revenue
from real estate operations increased to $5,495,000 for the three months ended September 30, 2025 from $5,086,000 for the three months
ended September 30, 2024, driven by stronger multifamily occupancy. Operating expenses decreased to $2,338,000 from $2,457,000, reflecting
reduced operating costs and improved property-level efficiency.

Investment
Transactions

The
Company had a net gain on marketable securities of $136,000 for the three months ended September 30, 2025 compared to a net gain of $129,000
for the three months ended September 30, 2024. For the quarter ended September 30, 2025, the Company recorded a net realized gain of
$20,000 and a net unrealized gain of $116,000. Given the Company’s relatively modest marketable securities balances ($966,000 at
September 30, 2025), period-to-period gains/losses are not expected to be material to consolidated results. See “Marketable Securities”
below. For the three months ended September 30, 2024, the Company had a net realized loss of $659,000 and a net unrealized gain of $788,000.

-22-

Tax
Estimates

The
Company and its subsidiary, Portsmouth, compute and file income tax returns separately and prepare discrete income tax provisions for
financial reporting purposes. Income tax expense for the three months ended September 30, 2025 and September 30, 2024 primarily reflects
the combined income tax effect of Portsmouth’s pretax loss(which includes Hotel operations) and InterGroup’s standalone pretax
income. Both entities file their respective federal and state income tax returns on a calendar-year basis.

MARKETABLE
SECURITIES 

The
following table shows the composition of the Company’s marketable securities portfolio as of September 30, 2025 and June 30, 2025
by selected industry groups.

    % of Total 
  
    As of September 30, 2025 
       
    Investment 
  
    Industry
    Group 
    Fair
    Value  
    Securities 

    REITs and real estate companies 
    $964,000  
     99.8%
  
    Technology 
     2,000  
     0.2%
  
    Total 
    $966,000