Board Meeting Details
The Board meeting was held at the company's registered office in Greater Noida, commencing at 2:00 PM and concluding at 4:15 PM. The Board considered and approved:
- Un-Audited Standalone Financial Results for the quarter ended June 30, 2026
- Limited Review Report for the Un-Audited Standalone Financial Results issued by statutory auditor M.B. Gupta & Co.
The results will be published in newspapers as required by Listing Regulations.
Financial Results (All figures in ₹ hundreds)
Quarter Ended June 30, 2026 (Unaudited):
- Revenue from Operations: ₹152,649.79
- Total Income: ₹152,649.79
- Employee Benefits Expense: ₹18,369.35
- Finance Costs: ₹120,141.33
- Depreciation and Amortization Expense: ₹1,407.51
- Other Expenses: ₹15,402.87
- Total Expenses: ₹155,321.05
- Profit Before Tax: ₹-2,671.27 (Loss)
- Profit for the Period: ₹-2,671.27 (Loss)
- Total Comprehensive Income: ₹-2,671.27 (Loss)
- Basic & Diluted EPS: ₹-0.03 (not annualized)
Comparative Figures:
- Quarter Ended March 31, 2026 (Audited): Profit of ₹1,013,433.86
- Quarter Ended June 30, 2025 (Unaudited): Loss of ₹222,263.18
- Year Ended March 31, 2026 (Audited): Profit of ₹1,032,847.17
Capital Structure:
- Paid-up Equity Share Capital (Face value ₹10 per share): ₹1,050,000.00 (unchanged from previous periods)
- Other Equity: ₹-6,162,337.12 (negative)
Auditor's Review Report
M.B. Gupta & Co., Chartered Accountants, issued a qualified conclusion on their review of the unaudited standalone financial results. The qualification arises because:
- The company has not filed Income Tax Returns from Assessment Year 2012-13 through Assessment Year 2023-24
- Due to the absence of these tax filings, the auditor was unable to obtain sufficient appropriate audit evidence regarding the company's compliance with tax regulations and any related financial impact
Except for this matter, nothing came to the auditor's attention that causes them to believe the financial results are not properly prepared in accordance with applicable accounting standards and SEBI regulations.
Additional Notes to Financial Results
1. The company underwent Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code, 2016, with NCLT initiating the process on March 31, 2023
2. Mr. Saurabh Chawla was appointed as Interim Resolution Professional/Resolution Professional
3. NCLT approved the resolution plan submitted by Palika Towns LLP on April 17, 2024
4. A new board of directors was constituted on May 17, 2024, by the successful resolution applicant
5. The reconstituted board is not responsible for fiduciary duties related to financial and operational health prior to its constitution
6. The company operates in one business segment: Real estate services and incidental activities
7. Provisions for Gratuity and Leave Encashment will be considered at year-end based on actuarial valuation
8. The company has been restored to solvency through implementation of the resolution plan and believes it will generate sufficient cash flows to meet obligations
9. No Deferred Tax Asset has been recognized due to uncertainty regarding future taxable profits
10. Previous period figures have been regrouped for comparability