Key Financial Figures

Profit & Loss (Year Ended March 31, 2026)

  • Total Income: ₹816.41 lakhs
  • Total Expenses: ₹618.13 lakhs
  • Cost of materials: ₹530.89 lakhs
  • Employee benefits: ₹40.52 lakhs
  • Depreciation: ₹0.13 lakhs
  • Provision for expected credit loss: ₹0.00 lakhs (Note: A provision of ₹1,600 lakhs is noted elsewhere but not expensed this period)
  • Other Expenses: ₹46.59 lakhs
  • Profit Before Tax & Exceptional Items: ₹198.28 lakhs
  • Exceptional Items: ₹0.00 lakhs
  • Profit After Exceptional Items: ₹198.28 lakhs
  • Total Tax Expense: ₹48.86 lakhs
  • Current tax: ₹50.50 lakhs
  • Deferred tax: (₹2.10) lakhs
  • Earlier year tax: ₹0.46 lakhs
  • Profit for the period (after tax): ₹149.42 lakhs
  • Other Comprehensive Income (after tax): ₹0.02 lakhs
  • Total Comprehensive Income for the period: ₹149.44 lakhs
  • Earnings Per Share (EPS) (Face value Re. 1 each):
  • Basic: ₹0.11
  • Diluted: ₹0.11

Balance Sheet (As at March 31, 2026)

  • Total Assets: ₹4,313.68 lakhs
  • Non-current assets: ₹107.16 lakhs
  • Property, Plant and Equipment: ₹0.19 lakhs
  • Deferred tax assets (Net): ₹102.77 lakhs
  • Non-current tax assets (Net): ₹4.20 lakhs
  • Current assets: ₹4,206.52 lakhs
  • Inventories: ₹539.33 lakhs
  • Investments: ₹413.76 lakhs
  • Cash and cash equivalents: ₹99.93 lakhs
  • Bank Balances other than above: ₹1,117.45 lakhs
  • Other Financial assets: ₹1,950.81 lakhs (Includes ₹1,911.15 lakhs net refund receivable from Eterna Living)
  • Other current assets: ₹85.24 lakhs
  • Total Equity: ₹4,145.99 lakhs
  • Equity share capital: ₹1,341.43 lakhs
  • Other equity: ₹2,804.56 lakhs
  • Total Liabilities: ₹167.69 lakhs
  • Non-current liabilities: ₹5.19 lakhs (Provisions)
  • Current liabilities: ₹162.50 lakhs
  • Trade payables: ₹5.12 lakhs
  • Other financial liabilities: ₹5.00 lakhs
  • Other current liabilities: ₹152.10 lakhs
  • Provisions: ₹0.28 lakhs

Cash Flow (Year Ended March 31, 2026)

  • Net Cash from Operating Activities: ₹672.87 lakhs
  • Net Cash used in Investing Activities: (₹576.40) lakhs
  • Investment in/Redemption of Fixed Deposit with Bank: (₹248.95) lakhs
  • Purchase of Investments: (₹410.01) lakhs
  • Interest received: ₹82.56 lakhs
  • Net Cash from Financing Activities: ₹0.00 lakhs
  • Net Increase in Cash & Cash equivalents: ₹96.47 lakhs
  • Cash & Cash Equivalents at end of year: ₹99.93 lakhs

Material Developments & Notes

1. Emphasis of Matter by Auditor

The auditors, CA V. Sankar Aiyar & Co., draw attention to Note 6 regarding the recoverability of space booking advances from Eterna Living Pvt. Ltd. (Formerly Ansal Landmark (Karnal) Township Private Limited). The gross amount is ₹3,511.15 lakhs. A provision of ₹1,600.00 lakhs was made in earlier years and has been retained, resulting in a net carrying amount of ₹1,911.15 lakhs as of March 31, 2026. The auditor's opinion is not modified in respect of this matter.

2. Eterna Living Settlement (Note 6)

  • A Business Transfer Agreement was originally entered into on April 2, 2012.
  • Advances aggregating to ₹4,993.74 lakhs (including accrued interest up to June 30, 2008) given to Ansal Landmark Townships Pvt. Ltd. were transferred to Eterna Living Pvt. Ltd. (ELPL).
  • Due to regulatory constraints and expiry of approvals, the Company and ELPL mutually agreed to cancel the remaining space booking arrangement. This was approved by shareholders in an EGM on March 12, 2026.
  • A Refund and Settlement Agreement was executed on March 27, 2026. ELPL irrevocably agreed to refund ₹3,526.15 lakhs to the Company on or before September 26, 2026.
  • The Company received ₹15.00 lakhs during the quarter, which was adjusted against the outstanding balance.
  • The remaining balance of ₹3,511.15 lakhs was reclassified from 'Advance against acquisition of property to related party' to 'Refund receivable against advance paid for acquisition of property' under Other Current Financial Assets.
  • The provision of ₹1,600.00 lakhs is retained based on prudence and the latest audited financial position of ELPL.

3. Government of Odisha Mining Disputes (Note 7)

  • Demand Notice 1: Received in FY 2021-22 for ₹105.90 lakhs from the Office of the Mining Officer, Government of Odisha, for alleged excess extraction/production of minerals at Talabasta Fireclay Mines from 2000-01 to 2010-11.
  • The Company filed an appeal on March 9, 2022, before the Director of Mines, Bhubaneswar. The hearing was completed on June 22, 2022, and the order has been reserved.
  • Demand Notice 2: Received a letter dated November 8, 2023, from the Deputy Director of Mines, Cuttack, for ₹13.05 lakhs towards differential Dead Rent for Talabasta Fireclay mines for the period July 2010 to December 2014.
  • The Company responded on December 5, 2023, stating no amount is payable as the lease expired on January 6, 2005.
  • A Writ Petition has been filed in the High Court of Orissa, Cuttack. Subsequent to the balance sheet date, a stay order on this demand was received, valid until July 29, 2025.

4. Other Notes

  • The results were reviewed by the Audit Committee and approved by the Board of Directors on May 26, 2026. The Board meeting commenced at 4:00 PM and concluded at 4:21 PM.
  • The company has only one operating segment: real estate development.
  • The figures for the quarter ended March 31, 2026, are the balancing figure between the audited full-year results and the previously published unaudited year-to-date figures up to December 31, 2025.
  • The company has no subsidiaries, associates, or joint ventures.
  • The New Labour Codes effective from November 21, 2025, were assessed, and management believes they have no material impact on the financial results.
  • Previous periods' figures have been regrouped for comparability.