Board Meeting Details

The Board of Directors meeting was held on Thursday, 13th August, 2026 from 04:30 p.m. to 07:30 p.m. at the Registered Office of the Company at 10th Floor, Dev Plaza, Opp. Andheri Fire Station, S. V. Road, Andheri (West), Mumbai - 400 058.

Key Decisions Approved

1. Considered and approved the Unaudited Standalone and Consolidated Financial Statements along with Limited Review Report thereon for the quarter ended 30th June, 2026.

2. Took on records the other agenda items related to operations of the business of the Company.

Financial Results Overview - Standalone (Q1 FY27)

  • Revenue from operations: ₹2,876.31 lacs (vs ₹1,330.65 lacs in Q1 FY26)
  • Other Income: ₹1,480.54 lacs (vs ₹3,212.70 lacs in Q1 FY26)
  • Total Income: ₹4,356.84 lacs (vs ₹4,543.35 lacs in Q1 FY26)
  • Total Expenses: ₹4,123.36 lacs (vs ₹2,811.06 lacs in Q1 FY26)
  • Profit before tax: ₹233.48 lacs (vs ₹1,732.29 lacs in Q1 FY26)
  • Tax expense (Deferred tax): ₹53.41 lacs (vs ₹207.79 lacs in Q1 FY26)
  • Profit after tax: ₹180.07 lacs (vs ₹1,524.50 lacs in Q1 FY26)
  • Earnings per share (Basic & Diluted): ₹0.36 (vs ₹3.05 in Q1 FY26)
  • Paid-up equity share capital: ₹5,003.31 lacs (face value ₹10 each)

Financial Results Overview - Consolidated (Q1 FY27)

  • Revenue from operations: ₹10,301.99 lacs (Textiles: ₹2,876.31 lacs, Infrastructure Projects: ₹7,425.69 lacs)
  • Other Income: ₹1,620.32 lacs
  • Total Income: ₹11,922.31 lacs
  • Total Expenses: ₹6,058.59 lacs
  • Profit before tax: ₹5,863.72 lacs
  • Tax expense (Deferred tax): ₹3,781.24 lacs
  • Profit after tax: ₹2,082.48 lacs
  • Earnings per share (Basic & Diluted): ₹4.16
  • Paid-up equity share capital: ₹5,003.31 lacs (face value ₹10 each)

Segment Performance (Consolidated Q1 FY27)

  • Textiles Segment: Revenue ₹2,876.31 lacs, Segment result (₹18.91) lacs loss
  • Infrastructure Projects Segment: Revenue ₹7,425.69 lacs, Segment result ₹5,289.36 lacs profit
  • Unallocated Income: ₹1,620.32 lacs, Segment result ₹618.97 lacs profit

Tax Position

The Company has significant brought forward business losses and unabsorbed depreciation available for adjustment against the taxable income of the current year. After giving effect to such set-offs, no taxable income remains chargeable to tax and therefore no current tax expense/provision has been recognized.

In view of the proposed amalgamation of the Company with another Group Company, the Management has stated that the income tax compliances/return filing shall be done together with the said Group Company and hence no separate current tax provision has been considered.

Merger Update

The merger of the Company with its holding company, Dev Land & Housing Private Limited, pursuant to Order No. C.P.(CAA)/6(MB)2026 in C.A.(CAA)/219(MB)2025, was heard by the National Company Law Tribunal (NCLT) on 15th July 2026. During the hearing, the matter was reserved for orders.

The matter was subsequently listed before the NCLT on 12th August 2026. During this hearing, the NCLT has reserved the final order and the company is awaiting receipt of the final order.

Auditor Review

Bhuta Shah & Co LLP, Chartered Accountants (FRN: 101474W/W100100) reviewed both standalone and consolidated financial results. Partner Atul Gala (Membership Number: 048650) issued the review reports dated August 13, 2026, stating that nothing has come to their attention that causes them to believe that the statements contain any material misstatement.