Key Financial Results - Standalone

Income Statement (₹ in Lakhs)

Quarter Ended 30-Sep-26:

  • Revenue from operations: ₹35,429.89
  • Other income: ₹4,100.35
  • Total income: ₹39,530.24
  • Total expenses: ₹33,671.41
  • Profit before tax: ₹5,858.83
  • Tax expense: ₹1,532.74 (Current: ₹1,067.42, Deferred: ₹465.32)
  • Profit after tax: ₹4,326.09
  • EPS: Basic ₹2.14, Diluted ₹2.14

Half Year Ended 30-Sep-26:

  • Revenue from operations: ₹73,402.40
  • Other income: ₹8,475.99
  • Total income: ₹81,878.39
  • Profit after tax: ₹9,756.88
  • EPS: Basic ₹4.84, Diluted ₹4.83

Balance Sheet (Standalone as at 30-Sep-26)

  • Total assets: ₹8,38,137.55 Lakhs
  • Property, plant and equipment: ₹2,69,118.64
  • Right of use asset: ₹66,953.20
  • Capital work-in-progress: ₹52,862.78
  • Equity share capital: ₹20,170.20 Lakhs (Face value ₹10 per share, net of treasury shares)
  • Reserves & surplus: ₹1,52,452.32

Cash Flow (Standalone Half Year)

  • Net cash from operating activities: ₹17,264.69
  • Net cash used in investing activities: ₹(11,658.85)
  • Net cash used in financing activities: ₹(6,242.66)
  • Net decrease in cash: ₹(636.82)
  • Cash at end of period: ₹655.62

Key Financial Results - Consolidated

Income Statement (₹ in Lakhs)

Quarter Ended 30-Sep-26:

  • Revenue from operations: ₹78,413.24
  • Other income: ₹3,555.01
  • Total income: ₹81,968.25
  • Profit before tax: ₹3,414.17
  • Tax expense: ₹1,442.18 (Current: ₹1,184.88, Deferred: ₹257.30)
  • Profit after tax: ₹1,971.99
  • Attributable to owners: ₹1,995.77
  • EPS: Basic ₹0.99, Diluted ₹0.99

Half Year Ended 30-Sep-26:

  • Revenue from operations: ₹1,51,694.63
  • Profit after tax: ₹1,116.09
  • Attributable to owners: ₹1,129.32
  • EPS: Basic ₹0.56, Diluted ₹0.56

Segment Results

  • MHRIL segment revenue: ₹82,639.46 Lakhs (H1), profit before tax: ₹12,293.79 Lakhs
  • HCRO segment revenue: ₹76,682.76 Lakhs (H1), loss before tax: ₹(7,091.89) Lakhs

Balance Sheet (Consolidated as at 30-Sep-26)

  • Total assets: ₹11,95,624.99 Lakhs
  • Property, plant and equipment: ₹3,37,409.62
  • Right of use asset: ₹2,61,037.12
  • Equity attributable to owners: ₹79,153.36 Lakhs

Significant Events and Notes

ESOP Allotment

During Q2 FY27, the company allotted 12,525 equity shares of ₹10 each pursuant to exercise of stock options under ESOS 2020.

NFRA Accounting Review

The company received an order from NFRA on March 29, 2023 regarding observations on operating segment identification and revenue recognition policies. Management assessment indicates current accounting policies comply with Ind AS standards.

Exceptional Items

The Group recognized an exceptional charge of ₹1,106.23 Lakhs (consolidated) and ₹1,090.65 Lakhs (standalone) relating to incremental retiral benefits under new Labour Codes notified by Government of India on November 21, 2025.

Subsidiary Updates

  • Completed acquisition of 100% stake in Aditatva Estates Private Limited on June 15, 2026, accounted as asset acquisition
  • Board approved voluntary liquidation of Arabian Dreams Hotels Apartments LLC (subsidiary) on January 29, 2026
  • Impairment charge of ₹23,369.59 Lakhs recognized on investment in MHR Holdings (Mauritius) Limited during FY26

Freehold Land Revaluation

During Q1 FY27, the Group recognized revaluation gain of ₹40.56 Lakhs on freehold land based on external valuation.

Audit Details

Limited review conducted by B S R & Co. LLP, Chartered Accountants, with unmodified conclusion. Board meeting held on October 21, 2026 from 08:46 AM to 01:02 PM IST.