Board Meeting Details
The Board of Directors meeting was held on 28th May 2026, commencing at 4:00 PM and concluding at 6:30 PM.
Key Decisions Approved
1. Financial Results Approval
The Board approved:
- Financial results for the quarter ended 31st March 2026
- Audited financial results for the financial year ended 31st March 2026
- Statement of assets and liabilities as on 31st March 2026
- Auditors Report and Directors Report
2. Dividend Declaration
No dividend was declared for the Financial Year 2025-26.
3. Internal Auditors Reappointment
Re-appointment of Internal Auditors for the Financial Year 2026-27.
4. Director Changes
- Cessation of Mr. Mahesh Kumar Tibrewal (DIN 00987782) effective 29-05-2026
- Appointment of Mr. Kailash Kumar Kedia (DIN: 02629502) as an Independent Director (additional director) effective 28-05-2026 for a term of 5 years (28-05-2026 to 27-05-2031)
Director Profile - Mr. Kailash Kumar Kedia
- Born on 12th December 1959
- Based in Kolkata
- Graduated from University of Calcutta
- Engaged in real estate business with vast experience in the sector
- Not related to any director of the Company
- Other directorships/memberships: Not applicable
Financial Results Summary
Quarterly Performance (Q4 FY26)
- Total Income: ₹167.12 lakh (Previous quarter: ₹133.84 lakh, Year-ago quarter: ₹1,186.98 lakh)
- Net Profit: ₹17.40 lakh (Previous quarter: ₹29.17 lakh, Year-ago quarter: ₹403.49 lakh)
- Basic EPS: ₹0.34 (Previous quarter: ₹0.57, Year-ago quarter: ₹7.83)
Annual Performance (FY26)
- Total Income: ₹659.83 lakh (FY25: ₹1,670.11 lakh) - 60.5% decrease
- Net Profit: ₹189.92 lakh (FY25: ₹599.24 lakh) - 68.3% decrease
- Basic EPS: ₹3.68 (FY25: ₹11.63)
- Paid-up equity share capital: ₹515.39 lakh (unchanged)
- Reserves and surplus: ₹4,528.50 lakh (FY25: ₹4,273.17 lakh)
- Revaluation reserves: ₹813.43 lakh (FY25: ₹818.50 lakh)
Income Breakdown (FY26)
- Revenue from operations: ₹1.82 lakh (FY25: ₹32.14 lakh)
- Other Income: ₹658.01 lakh (FY25: ₹1,637.97 lakh)
- Other operating income represents rental income from property
Expenditure Breakdown (FY26)
- Employee benefits expenses: ₹190.82 lakh (FY25: ₹124.21 lakh)
- Finance cost: ₹1.49 lakh (FY25: ₹87.38 lakh)
- Depreciation and amortization: ₹20.56 lakh (FY25: ₹25.36 lakh)
- Other expenditure: ₹194.89 lakh (FY25: ₹719.14 lakh)
Balance Sheet Position (as at 31st March 2026)
- Total Assets: ₹9,533.53 lakh (FY25: ₹10,219.75 lakh)
- Non-Current Assets: ₹8,215.46 lakh (FY25: ₹9,035.95 lakh)
- Property, Plant and Equipment: ₹1,922.55 lakh (FY25: ₹1,962.96 lakh)
- Capital Work in Progress: ₹1,098.85 lakh (FY25: ₹1,096.43 lakh)
- Investments: ₹368.79 lakh (FY25: ₹542.50 lakh)
- Loans: ₹4,812.24 lakh (FY25: ₹5,421.62 lakh)
- Current Assets: ₹1,318.07 lakh (FY25: ₹1,183.80 lakh)
- Inventories: ₹80.00 lakh (FY25: ₹0)
- Cash and Cash Equivalents: ₹204.94 lakh (FY25: ₹80.33 lakh)
- Total Equity: ₹5,882.32 lakh (FY25: ₹5,632.06 lakh)
- Total Liabilities: ₹3,651.21 lakh (FY25: ₹4,587.69 lakh)
Cash Flow Statement (FY26)
- Net Cash from Operating Activities: (₹1,164.17) lakh (FY25: ₹1,535.24 lakh)
- Net Cash from Investing Activities: ₹1,292.84 lakh (FY25: (₹537.25) lakh)
- Net Cash from Financing Activities: (₹4.06) lakh (FY25: (₹1,045.75) lakh)
- Net Change in Cash: ₹124.61 lakh (FY25: (₹47.76) lakh)
Key Audit Matters
1. Capital Work in Progress
- Amount: ₹1,098.85 lakh as at 31st March 2026
- Projects take substantial time to get ready for intended use
- Audit procedures included understanding internal controls and assessing project progress
- Management informed project is temporarily suspended and planning to start soon
2. Provision and Write-off of Loans
- Company had created provision for bad and doubtful loans and advances amounting to ₹445 lakh as at 31 March 2025
- During FY26, the Company wrote off such bad & doubtful loans and advances against the aforesaid provision
- Audit procedures included reviewing management's assessment of recoverability and verifying loan documents
Emphasis of Matter by Auditors
The auditor drew attention to:
- The Company's lending and financing activities constitute "customer interface" under RBI NBFC Directions 2025 and Amendment Directions 2026
- Based on preliminary evaluation of the "50-50 test", the Company falls within NBFC regulatory framework under Section 45-IA of RBI Act, 1934
- Management has taken cognizance and is undertaking detailed evaluation of RBI regulatory framework applicability
- Management is consulting legal and professional advisors and will undertake appropriate corrective actions, including initiation of registration process
- Auditor's opinion is not modified in respect of this matter
Financial Ratios (as at 31st March 2026)
- Debt Equity Ratio: 0.30
- Debt Service Coverage Ratio (DSCR): 28.83 (annual)
- Interest Service Coverage Ratio (ISCR): 128.46 (annual)
Additional Information
- The company operates in a single business segment: Real Estate
- No investor grievances were pending or received during the quarter
- None of the Director/promoter shares are pledged/encumbered
- Previous year figures have been re-arranged/re-grouped wherever necessary
- Tax is calculated on financial yearly basis
- Consolidated figures are furnished as the company does not have any associates/subsidiary company