Key Quantitative Figures (₹ in Lakhs)

Income Statement for Quarter Ended 30.06.2026:

  • Revenue from Operations: 123.19
  • Other Income: 32.26
  • Reversal of Provision for Expected Credit Losses (Refer Note 6): 776.83
  • Total Income: 932.28
  • Total Expenses: 126.04
  • Profit before Tax & Exceptional Items: 806.24
  • Tax Expense: 109.81 (Current Tax: 4.18; Deferred Tax Charge: 105.63)
  • Profit for the period: 696.43
  • Earnings Per Share (Basic & Diluted): ₹0.52

Comparative Figures:

  • Profit for quarter ended 30.06.2025: (0.68)
  • Profit for year ended 31.03.2026: 149.42
  • Paid-up Equity Share Capital: 1,341.43

Dates of Action

  • Quarter End Date: 30th June 2026
  • Review and Approval Date: The results were reviewed by the Audit Committee and approved by the Board of Directors at their meetings held on 12th August 2026.
  • Auditor's Report Date: 12th August 2026
  • Refund Deadline Extension: The Board, on 12th August 2026, agreed to extend the repayment timeline for Eterna Living to 31st March 2027.

Parties Involved

  • Auditor: V. Sankar Aiyar & Co., Chartered Accountants (Firm Regn No. 109208W)
  • Related Party: Eterna Living Pvt. Ltd. (Formerly Ansal Landmark (Karnal) Township Private Limited)
  • Counterparty: Saya Buildcon Consortium Private Limited
  • Regulator: SEBI

Purpose or Stated Rationale

  • The financial results are prepared as a mandatory quarterly disclosure under SEBI LODR Regulations.
  • The provision reversal is due to the recovery of previously provided-for amounts.
  • The refund deadline for Eterna Living was extended based on a request received from them.

Financial or Operational Impact

Significant Impact from ECL Reversal:

The reversal of the Expected Credit Loss (ECL) provision of ₹776.83 lakhs is the primary reason for the high profit in the current quarter, directly increasing pre-tax profit by that amount.

Recoverable from Eterna Living:

A receivable of ₹3,511.15 lakhs (Gross) from Eterna Living Pvt. Ltd. is outstanding. A provision of ₹1,600.00 lakhs against this amount is retained, resulting in a net carrying amount of ₹1,911.15 lakhs as of 30th June 2026.

Capital Structure Impact

No change in share capital was reported for the quarter. The paid-up equity share capital remained constant at ₹1,341.43 lakhs.

Cash Flow Implications

  • Inflow: Recovery of capital advances (₹400.00 lakhs), an inter-corporate loan (₹367.07 lakhs), and accrued interest (₹9.76 lakhs) from Saya Buildcon.
  • Potential Future Inflow: Expectation to receive ₹3,511.15 lakhs from Eterna Living by the new deadline of 31st March 2027.

Emphasis of Matter by Auditors

The auditors drew attention to Note 4 regarding the recoverability of the space booking advance from Eterna Living Pvt. Ltd. The gross amount is ₹3,511.15 lakhs, with a net carrying value of ₹1,911.15 lakhs after a provision of ₹1,600.00 lakhs. Their review opinion is not modified concerning this matter.

Contingent Exposure / Legal Matters

Talabasta Fireclay Mines Demand (Govt. of Odisha):

  • A demand notice of ₹105.90 lakhs was received in FY2021-22 for alleged excess mineral extraction (2000-01 to 2010-11). An appeal was filed on 09.03.2022; the hearing was completed on 22.06.2022 and the order is reserved.
  • A separate demand of ₹13.05 lakhs for differential Dead Rent (July 2010 to Dec 2014) was received on 08.11.2023. The company filed a Writ Petition in the Hon'ble High Court of Orissa and subsequently received a stay order on the demand until 29th July 2025. The matter remained pending as of the report date.

#Tags: #LandmarkProperty #Q1Results #SEBIDisclosure #FinancialRecovery #RegulatoryCompliance #Neutral