Nature of the Event
Regulatory business update filed with BSE Limited regarding financial results for quarter and year ended March 31, 2026, providing operational highlights and investment status.
Key Quantitative Figures
- Zero revenue from operations during Q4 FY26
- One-time revenue of approximately Rs. 62 crores generated during FY 2025-26 from sale of Agra property
- Company holds 49.90% stake in Platinumcorp Value Shelters Private Limited
Dates of Action
- Financial year ended: March 31, 2026
- Disclosure date: May 28, 2026
- Platinumcorp project expected to take off by end of current financial year (FY 2026-27)
- Platinumcorp project expected completion: approximately 5 years after building demolition
Entities Involved
- Rap Corp Limited (formerly Rap Media Limited)
- White River Properties LLP (investment partnership)
- Platinumcorp Value Shelters Private Limited (49.90% subsidiary)
- Third-party partners in White River Properties LLP
- Societies in Khar, Mumbai (redevelopment agreements)
Business Operations Update
The company is engaged in real estate development with typically long project and revenue realization cycles. During FY 2025-26, the company monetized its Agra property instead of proceeding with the originally planned commercial project due to changes in development conditions, zoning, and commercial considerations affecting project viability.
Investment Status - White River Properties LLP
The company has invested in White River Properties LLP as a partner along with other third-party partners. Certain differences have arisen amongst the partners, stalling the proposed project which remains at a preliminary stage. The LLP continues to hold ownership rights/interest in a land parcel situated at Keshav Nagar, Pune. Discussions among partners are ongoing to achieve amicable resolution and evaluate the project's way forward.
Investment Status - Platinumcorp Value Shelters
The company has made investment in Platinumcorp Value Shelters Private Limited and extended financial assistance to the entity. Platinumcorp is evaluating re-development opportunities in Mumbai's real estate sector and has signed and registered agreements with 2 societies in Khar, Mumbai.
Forward-Looking Statements
The document contains a disclaimer noting that certain statements may constitute forward-looking statements subject to various risks, uncertainties and assumptions, with actual results potentially differing materially depending on future developments and market conditions.