Board Meeting Details

The Board of Directors meeting was held on November 13, 2026, at the registered office in Greater Noida, Uttar Pradesh. The meeting commenced at 5:00 PM and concluded at 6:15 PM.

Key Financial Results (All figures in ₹ hundreds)

Quarter Ended September 30, 2026:

  • Revenue from Operations: ₹94,868.23
  • Other Income: ₹56,429.76
  • Total Income: ₹151,297.99
  • Employee Benefits Expense: ₹18,814.14
  • Finance Costs: ₹108,893.26
  • Depreciation and Amortization: ₹1,407.50
  • Other Expenses: ₹22,958.90
  • Total Expenses: ₹152,073.80
  • Profit Before Tax: -₹775.82 (Loss)
  • Profit for the Period: -₹775.82 (Loss)
  • Basic & Diluted EPS: -₹0.07 (not annualized)

Half Year Ended September 30, 2026:

  • Revenue from Operations: ₹247,518.02
  • Other Income: ₹56,429.76
  • Total Income: ₹303,947.78
  • Employee Benefits Expense: ₹37,183.49
  • Finance Costs: ₹229,034.59
  • Depreciation and Amortization: ₹2,815.01
  • Other Expenses: ₹38,361.77
  • Total Expenses: ₹307,394.87
  • Profit Before Tax: -₹3,447.09 (Loss)
  • Profit for the Period: -₹3,447.09 (Loss)
  • Basic & Diluted EPS: -₹0.03 (not annualized)

Comparative Figures (Quarter Ended September 30, 2025):

  • Profit Before Tax: -₹184,314.82 (Loss)
  • Basic & Diluted EPS: -₹1.75 (not annualized)

Year Ended March 31, 2026 (Audited):

  • Revenue from Operations: ₹2,085,880.39
  • Profit Before Tax: ₹1,032,847.17
  • Basic & Diluted EPS: ₹9.84

Capital Structure

  • Paid-up Equity Share Capital: ₹1,050,000.00 (Face value ₹10 per share) - unchanged across all periods
  • Other Equity: -₹7,599,091.05 as of September 30, 2026

Balance Sheet Highlights (As at September 30, 2026)

  • Total Assets: ₹1,502,729.30
  • Non-current Assets: ₹440,220.87 (Property, Plant & Equipment: ₹294,764.81; Capital Work in Progress: ₹145,456.06)
  • Current Assets: ₹1,062,508.43 (including Cash & Cash Equivalents: ₹7,639.15; Other Current Assets: ₹603,368.02; Assets held for sale: ₹450,000.00)
  • Total Equity: -₹5,113,112.94
  • Non-current Liabilities: ₹5,309,383.38 (Borrowings: ₹5,308,483.48)
  • Current Liabilities: ₹1,306,458.86

Cash Flow Statement (Half Year Ended September 30, 2026)

  • Cash from Operating Activities: ₹1,417,372.18
  • Cash from Investing Activities: -₹1,330.00 (Purchase of Property, Plant & Equipment)
  • Cash from Financing Activities: -₹1,436,168.58 (Repayment of Borrowings: -₹1,207,133.99; Interest & finance expenses paid: -₹229,034.59)
  • Net Decrease in Cash: -₹20,126.40
  • Closing Cash & Cash Equivalents: ₹7,639.15

Critical Notes to Financial Results

Corporate Insolvency Resolution Process:

  • NCLT initiated CIRP on March 31, 2023 (Insolvency Commencement Date)
  • Mr. Saurabh Chawla appointed as Interim Resolution Professional/Resolution Professional
  • NCLT approved resolution plan by Palika Towns LLP on April 17, 2024
  • New board of directors constituted on May 17, 2024 by successful resolution applicant
  • Reconstituted Board notes it is not responsible for fiduciary duties prior to reconstitution date

Business Segment:

  • Company operates only in one business segment: Real estate services and incidental activities
  • No reportable segments as per Ind AS 108

Employee Benefits:

  • Provision for Gratuity and Leave Encashment will be considered at year-end based on Actuarial Valuation

Going Concern:

  • Company restored to solvency through resolution plan implementation
  • Management believes company will generate sufficient cash flows to meet obligations
  • Financial results prepared on going concern basis

Deferred Tax Asset:

  • Management determined not to recognize DTA due to uncertainty regarding future taxable profits
  • No certainty of sufficient taxable profits to offset carry forward business losses

Auditor's Qualified Opinion:

  • Statutory Auditor M.B. Gupta & Co. issued modified opinion
  • Company has not filed Income Tax Returns from Assessment Year 2012-13 to 2023-24
  • Auditor unable to obtain sufficient audit evidence regarding tax compliance and related financial impact