Key Financial or Operational Approvals

  • The Board of Directors approved the Audited Standalone Financial Results for the quarter and financial year ended 31st March, 2026.
  • The Board noted that due to the Corporate Insolvency Resolution Process (CIRP) affecting subsidiaries and other entities to be consolidated under IND AS-110, the Company was unable to prepare or submit Consolidated Financial Results for the period.
  • The Board approved the appointment of M/s J.D. Associates, Cost Accountants (Firm Registration No. 101443) as Cost Auditor for the Financial Year 2026-27, subject to ratification of their remuneration by shareholders.
  • The Board authorized Shri Siddhartha Goenka, Whole Time Director (DIN: 11524566), to determine the materiality of events and make disclosures to stock exchanges under Regulation 30 of the SEBI LODR Regulations.
  • The Board did not recommend any dividend for the financial year ended 31st March, 2026.

Financial Results (Standalone) - Year Ended 31st March, 2026 (Rs. in Lakhs)

Income Statement Highlights:

  • Revenue from operations: ₹3,928 lakhs (Previous Year: ₹64,644 lakhs)
  • Other Income: ₹1,478 lakhs (Previous Year: ₹1,057 lakhs)
  • Total Income: ₹5,406 lakhs (Previous Year: ₹65,701 lakhs)
  • Total Expenses: ₹5,358 lakhs (Previous Year: ₹191,411 lakhs)
  • Loss before exceptional items and tax: ₹48 lakhs (Previous Year: Loss of ₹125,710 lakhs)
  • Exceptional Items: Net gain of ₹7,073 lakhs (Previous Year: Net loss of ₹45,311 lakhs)
  • Loss before tax: ₹3,347 lakhs (Previous Year: Loss of ₹171,021 lakhs)
  • Tax expense: ₹-276 lakhs (Previous Year: ₹-8,088 lakhs)
  • Net Loss for the year: ₹3,623 lakhs (Previous Year: Loss of ₹162,933 lakhs)
  • Total Comprehensive Loss for the year: ₹3,676 lakhs (Previous Year: Loss of ₹162,916 lakhs)

Earnings Per Share (EPS):

  • Basic EPS after extraordinary items: ₹2.30 (Previous Year: ₹-103.51)
  • Diluted EPS after extraordinary items: ₹2.16 (Previous Year: ₹-97.33)

Balance Sheet Position (as at 31st March, 2026):

  • Total Assets: ₹283,168.89 lakhs
  • Total Equity: Negative ₹(177,946.07) lakhs
  • Total Liabilities: ₹461,114.96 lakhs
  • Current Liabilities exceed Current Assets by ₹217,714.92 lakhs
  • Accumulated losses: ₹311,848.35 lakhs

Cash Flow Statement (for year ended 31st March, 2026):

  • Net cash from operating activities: ₹15,939.71 lakhs
  • Net cash from investing activities: ₹1,180.66 lakhs
  • Net cash used in financing activities: ₹(17,300.64) lakhs
  • Net decrease in cash: ₹(180.28) lakhs
  • Cash and cash equivalents at year end: ₹1,021.82 lakhs

Strategic or Business Context

Corporate Insolvency Resolution Process (CIRP):

  • The CIRP of Ansal Properties & Infrastructure Limited was initiated on 25th February 2025 by NCLT, New Delhi in CP No.: IB 558(ND)/2024.
  • The Hon'ble NCLAT, vide order dated 07th January 2026, confined the CIRP to the Company's Lucknow projects (Mother City, Mother City Extension, Golf Plots) and assets in Rajasthan (built-up properties at Ajmer, Jodhpur, and Jaipur).
  • The Hon'ble Supreme Court confirmed this order on 16th April 2026 in Civil Appeal No. 807-808/2026.
  • Mr. Navneet Kumar Gupta (IBBI Registration No. IBBI/IPA-001/IP-P00001/2016-17/10009) was appointed as Resolution Professional.

Project-specific CIRPs:

  • Fernhill Project, Gurgaon: CIRP underway with Mr. Jalesh Kumar Grover as RP (IBBI Regn No. IBBI/IPA001/IPP00200/2017-2018/10390). The Resolution Plan was approved by NCLT on 24th July 2026.
  • Serene Residency Project, Greater Noida: Managed by Mr. Navneet Kumar Gupta, RP. Resolution Plan approved by NCLT on 06th October 2025.

Business Operations:

  • The Company's business activities comprise a single reportable segment: real estate development and related activities.
  • Licenses and RERA registrations for all projects in Haryana, Uttar Pradesh, and Rajasthan have expired. Management is in the process of reviving various projects.

Any Other Material Information

Regulatory and Legal Matters:

  • The Company received an SOP fine for non-compliance with SEBI LODR Regulations 6, 24A (FY26), and 33 (Q4 FY26 and Q1 FY27). Directors ensured future compliance.
  • The Board noted that the AGM for FY 2025-26 will not be convened by the statutory deadline of 30th September 2026, and no application for extension was filed with the Registrar of Companies.

Legal Proceedings and Contingencies:

  • NCDRC Matter: The Hon'ble National Consumer Disputes Redressal Commission directed status quo on Company assets on 08th April 2026. The Delhi High Court stayed this order on 11th May 2026, permitting normal business operations.
  • Sushant Megapolis/Dadri Project: The Company filed petitions in Delhi High Court and Allahabad High Court challenging license cancellation and seeking protection of project assets. Matters are listed for hearing in September and October 2026.
  • Arbitration Awards: Multiple arbitration awards against the Company, including:
  • IIRF India Realty II Limited: Award of ₹62.14 crore plus interest and costs
  • Vistra ITCL (India) Limited: Award of ₹13.31 crore plus interest and costs
  • Landmark Group: Award of ₹55.78 crore principal plus ₹105.08 crore interest

Challenges to these awards are pending in various courts.

  • Tax Litigation: Writ Petition pending in Delhi High Court regarding exemption claim of ₹3,408 lakhs under section 80IA(4)(iii) for AY 2010-11. Next hearing on 02nd November 2026.

Subsidiary Company Matters:

  • Ansal API Infrastructure Limited (AAIL): Term loan of ₹390 crores from consortium headed by IL&FS Urban Infrastructure Manager Limited. Principal outstanding approximately ₹241.20 crore. Recovery suits filed in DRT, New Delhi.
  • Ansal Hi-Tech Townships Limited (AHTL): Term loan of ₹50 crores from Indian Bank. OTS proposal pending with the bank. Recovery suit filed in DRT, New Delhi.

Auditor's Report - Key Qualifications and Emphasis of Matter:

  • Qualified Opinion: Issued due to non-recognition of interest expense of ₹232.613 million (₹2,326.13 lakhs) on NPA borrowings and delayed payments under settlement agreements for the period 01st April 2025 to 31st March 2026.
  • Impact of Qualification: If adjusted, total comprehensive profit would be ₹134.911 million (₹1,349.11 lakhs) instead of reported ₹367.524 million (₹3,675.24 lakhs), and other current financial liabilities would be ₹303.961 million (₹30,396.12 lakhs) instead of reported ₹280.699 million (₹28,069.99 lakhs).
  • Emphasis of Matter:
  • CIRP proceedings affecting Company projects
  • Multiple legal cases and arbitration matters
  • Expired licenses and RERA registrations
  • Material uncertainty regarding going concern status due to negative net worth, liquidity issues, and pending CIRP outcomes

Corporate Guarantees:

  • Provided corporate guarantee for AAIL borrowing: ₹241.20 crore (excluding overdue interest)
  • Provided corporate guarantee for AHTL borrowing: ₹23.59 crore as at 31st December 2024 (excluding overdue interest)

Public Deposits:

  • Total outstanding principal of public deposits: ₹801.871 lakhs as at 31st March 2026
  • Petition filed before NCLT for relief in repayment scheme, disposed of on 13th February 2026. Appeal preferred before NCLAT.