Key Financial Figures (in ₹ lakhs)

Quarter Ended June 30, 2026 (Unaudited):

  • Total Income: ₹44.40
  • Total Expenses: ₹414.86
  • Loss before tax: (₹370.46)
  • Tax Expense: ₹8.78
  • Net Loss after tax: (₹379.24)
  • Other Comprehensive Income: (₹0.01)
  • Total Comprehensive Income: (₹379.25)
  • Paid-up Equity Share Capital: ₹499.09 (Face value ₹10 each)
  • Earnings per Share (Basic and Diluted): (₹7.60)

Comparative Figures:

  • Quarter Ended March 31, 2026 (Audited): Net Profit of ₹19.47 lakhs, EPS ₹0.39
  • Quarter Ended June 30, 2025 (Unaudited): Net Profit of ₹18.15 lakhs, EPS ₹0.36
  • Year Ended March 31, 2026 (Audited): Net Profit of ₹125.23 lakhs, EPS ₹2.51

Key Notes from Financial Statements

1. Going Concern Status: As of June 30, 2026, the company's accumulated losses (₹903.01 lakhs) exceed its paid-up capital. Its net worth is fully eroded, and total liabilities exceed total assets. The company has no business operations or other cash flows. Consequently, it ceases to be a going concern. The financial statements have been prepared on a realization basis, with assets valued at their realizable value (if lower than cost) and all known liabilities fully provided for based on management's best estimates.

2. Impairment Loss: The company provided an impairment loss of ₹405.05 lakhs (₹4.05 crores) during the quarter. This relates to an advance of ₹5.05 crores paid to M/s Uninor Infrabuild Pvt Ltd for a property purchase under a Memorandum of Understanding (MOU) dated September 26, 2025. The MOU was cancelled on March 17, 2026, making the amount refundable within 90 days (by June 14, 2026). As the amount was overdue at the quarter-end, and only ₹1 crore was received on July 3, 2026, the company provided for the remaining amount due to uncertainty of recovery. The company continues to pursue recovery and is confident of recovering the outstanding amount.

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

4. The main business object is real estate development, and there are no reportable operating segments.

Board Meeting and Approvals

The Board of Directors meeting was held on August 04, 2026, from 03:51 p.m. to 04:40 p.m. The Board approved:

1. The unaudited standalone financial results for the quarter ended June 30, 2026.

2. The appointment of CS Payal Vyas, a Practicing and Peer-Reviewed Company Secretary, as the Secretarial Auditor of the company for the financial year 2026-2027. Her term is effective from August 04, 2026.

Auditor's Review Report

Maharaj N R Suresh & Co. LLP, the statutory auditors, issued a limited review report on the financial results. They conducted their review in accordance with Standard on Review Engagements (SRE) 2410. Their report does not express an audit opinion but states that based on their review, nothing has come to their attention that causes them to believe the financial results contain any material misstatement. They specifically drew attention to Note No. 2 regarding the company's going concern status but did not modify their report.