Board Meeting Details

The Board of Directors meeting was held on May 22, 2026, commencing at 03:47 p.m. and concluding at 07:50 p.m.

Key Board Approvals

1. Annual Audited Standalone Financial Results for the quarter and financial year ended March 31, 2026

2. Re-appointment of M/s. Sheetal Patankar & Co., Chartered Accountants as Internal Auditor for FY 2026-2027

3. Proposed entry into new line of business in brokerage services, construction consultancy and project management services

Financial Results Highlights (₹ in lakhs)

Quarterly Performance (Q4 FY26)
  • Total Income: ₹45.74 lakhs
  • Total Expenses: ₹19.66 lakhs
  • Profit before tax: ₹26.08 lakhs
  • Tax expense: ₹6.61 lakhs
  • Net Profit after tax: ₹19.47 lakhs
  • EPS: ₹0.39
Annual Performance (FY26)
  • Total Income: ₹180.81 lakhs
  • Total Expenses: ₹26.30 lakhs
  • Profit before tax: ₹154.51 lakhs
  • Tax expense: ₹29.28 lakhs
  • Net Profit after tax: ₹125.23 lakhs
  • EPS: ₹2.51
  • Accumulated losses: ₹523.76 lakhs
  • Paid-up Equity Share Capital: ₹499.09 lakhs (Face value ₹10 each)

Balance Sheet Position as at March 31, 2026 (₹ in lakhs)

  • Total Assets: ₹3,536.29
  • Current Assets: ₹3,532.65 (including cash & cash equivalents ₹8.95, bank balances ₹1,908.97)
  • Non-current Assets: ₹3.64
  • Total Equity: Negative ₹22.97 (Equity share capital ₹500.79 + Other equity negative ₹523.76)
  • Non-current Liabilities: ₹3,500.15 (including other financial liabilities ₹3,500.00)
  • Current Liabilities: ₹59.11

Critical Financial Condition Disclosure

The company disclosed that accumulated losses of ₹523.76 lakhs exceed paid-up capital, resulting in fully eroded net worth. Total liabilities exceed total assets. The company has no business of its own and no other cash flows at present, ceasing to be a "Going Concern." Financial statements have been prepared on the basis that the company does not continue as a going concern, with assets valued at realization value (where lower than cost) and all known liabilities fully provided for based on management's best estimates.

Significant Transactions and Events

1. Preference Share Terms Variation: The Board on November 12, 2025 approved variation in terms of 70,00,000, 0% Non-Convertible Redeemable Preference Shares issued to holding company Industrial Investment Trust Limited. The redemption period was extended to March 31, 2028, with shareholder approvals obtained in January 2026.

2. Sale of Investment: The company sold preference shares held in joint venture associate company Capital Infra Projects Private Limited to Medanta Realestate Private Limited during the December quarter, resulting in reversal of impairment provision of ₹40.00 lakhs credited to impairment loss in P&L.

Taxation

The company is subject to Income Tax under section 115BAA of the Income Tax Act, 1961.

Segment Reporting

The company's main object is only real estate development and related activities, with no reportable segments as per Ind AS 108.

Audit Opinion

The Statutory Auditors issued an unmodified opinion on the audited standalone financial results, with emphasis on matter regarding the company ceasing to be a going concern.

New Business Proposal

The Board proposed entering into new lines of business in brokerage services, construction consultancy and project management services, subject to statutory and regulatory approvals. The expected benefits include exploring alternative business opportunities and creating potential sources of operational revenue. No estimated investment amount was specified.