Key Event: Subsidiary Insolvency and Write-offs
The Company had made an investment of ₹34.01 Crore in equity shares (23 lakh shares @ ₹10 face value) and provided business advances of ₹24.89 Crores to its 100% subsidiary Ansal Crown Infrabuild Private Limited.
Ansal Crown Infrabuild was admitted into Corporate Insolvency Resolution Process (CIRP) pursuant to NCLT order dated April 21, 2023. The Hon'ble NCLT approved the Resolution Plan for Ansal Crown Infrabuild vide order dated July 2, 2026.
Based on assessment of recoverability, the Company has written off:
- ₹34.01 Crore investment in equity shares
- ₹24.89 Crore business advances
These write-offs are recognized under Exceptional Items in the Standalone Statement of Profit and Loss.
Standalone Financial Results (Q2 FY27)
Revenue from Operations: ₹114.14 lakhs (Q2 FY26: ₹158.48 lakhs)
Other Income: ₹83.02 lakhs (Q2 FY26: ₹95.74 lakhs)
Total Income: ₹122.44 lakhs (Q2 FY26: ₹167.49 lakhs)
Total Expenses: ₹137.34 lakhs (Q2 FY26: ₹103.11 lakhs)
Exceptional Items Loss: ₹589.09 lakhs
Profit before tax: ₹(603.99) lakhs (Q2 FY26: ₹643.82 lakhs profit)
Tax Expense: ₹(6.15) lakhs
Net Loss: ₹(597.84) lakhs (Q2 FY26: ₹473.52 lakhs profit)
Basic EPS: ₹(80.97) (Q2 FY26: ₹6.42)
Standalone Financial Results (H1 FY27)
Revenue from Operations: ₹247.85 lakhs (H1 FY26: ₹256.25 lakhs)
Other Income: ₹164.90 lakhs (H1 FY26: ₹168.18 lakhs)
Total Income: ₹264.34 lakhs (H1 FY26: ₹273.07 lakhs)
Exceptional Items Loss: ₹589.09 lakhs
Net Loss: ₹(578.85) lakhs (H1 FY26: ₹598.01 lakhs profit)
Basic EPS: ₹(78.39) (H1 FY26: ₹8.10)
Consolidated Financial Results (Q2 FY27)
Revenue from Operations: ₹114.14 lakhs (Q2 FY26: ₹158.48 lakhs)
Other Income: ₹83.52 lakhs (Q2 FY26: ₹95.74 lakhs)
Total Income: ₹122.49 lakhs (Q2 FY26: ₹168.05 lakhs)
Exceptional Items Loss: ₹582.50 lakhs
Net Loss: ₹(596.53) lakhs (Q2 FY26: ₹465.49 lakhs profit)
Consolidated Financial Results (H1 FY27)
Revenue from Operations: ₹287.86 lakhs (H1 FY26: ₹256.25 lakhs)
Other Income: ₹173.76 lakhs (H1 FY26: ₹179.71 lakhs)
Total Income: ₹305.23 lakhs (H1 FY26: ₹274.22 lakhs)
Exceptional Items Loss: ₹582.50 lakhs
Net Loss: ₹(545.97) lakhs (H1 FY26: ₹594.14 lakhs profit)
Loss of Control and Deconsolidation
Pursuant to NCLT approval of Resolution Plan on July 2, 2026, the Company lost control over Ansal Crown Infrabuild Private Limited. In accordance with Ind AS 110, the Company derecognized assets and liabilities of Ansal Crown from consolidated financial statements as of the date control was lost.
The resultant loss on derecognition amounts to ₹2653.93 lakhs, and net loss on account of investment amounts to ₹3171.07 lakhs, recognized under Exceptional Items in Consolidated Statement of Profit and Loss for period ended September 30, 2026.
Total exceptional loss in Consolidated Statement of Profit & Loss: ₹5825.00 lakhs.
Additional Provisions
The Company has made provision of interest on principal refund amount payable to customers related to Jaipur project of ₹506.56 lakhs up to period ended September 30, 2026.
Cash Flow Impact
Standalone cash flow shows exceptional loss on written off investments of ₹3400.07 lakhs and exceptional loss on written off loan of ₹2489.85 lakhs.
Board Meeting Details
The Board meeting commenced at 12:00 Noon and concluded at 4:00 PM on November 14, 2026.
Auditor Review
Limited review conducted by M/s L.P. Pasricha & Co., Chartered Accountants. Auditors issued emphasis of matter paragraphs regarding the write-offs but did not modify their conclusion.
Entities Included in Consolidation
The consolidated results include 6 subsidiaries (including Ansal Crown Infrabuild up to July 2, 2026), 1 associate, and 4 joint ventures.
Management Certification
CEO and CFO certification confirms financial statements don't contain materially untrue statements, no fraudulent transactions, and adequate internal controls are maintained.
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