Board Meeting Details

A meeting of the Board of Directors was held on Thursday, November 5, 2026, commencing at 11:00 Hrs and concluding at 12:30 Hrs. The board considered and approved:

  • Un-Audited Financial Results (Consolidated and Standalone) for quarter ended September 30, 2026
  • Limited Audit Review report dated November 5, 2026 issued by statutory auditors M/s Sanjiv Shah & Associates LLP

Financial Performance - Consolidated Results (Rs. in lakhs)

Quarterly Performance (Three months ended):

  • September 30, 2026: Total Income: Rs. 72.25 lakh, Net Profit: Rs. 27.28 lakh, EPS: Rs. 0.38
  • June 30, 2026: Total Income: Rs. 123.95 lakh, Net Profit: Rs. 88.48 lakh
  • September 30, 2025: Total Income: Rs. 75.23 lakh, Net Profit: Rs. 40.26 lakh

Half-Yearly Performance (Six months ended):

  • September 30, 2026: Total Income: Rs. 196.20 lakh, Net Profit: Rs. 115.76 lakh, EPS: Rs. 1.63
  • September 30, 2025: Total Income: Rs. 430.81 lakh, Net Profit: Rs. 117.47 lakh, EPS: Rs. 1.65

Annual Comparison:

  • March 31, 2026 (Audited): Total Income: Rs. 988.68 lakh, Net Profit: Rs. 197.33 lakh, EPS: Rs. 2.78

Financial Performance - Standalone Results (Rs. in lakhs)

Quarterly Performance (Three months ended):

  • September 30, 2026: Total Income: Rs. 72.25 lakh, Net Profit: Rs. 27.27 lakh, EPS: Rs. 0.38
  • June 30, 2026: Total Income: Rs. 123.95 lakh, Net Profit: Rs. 88.48 lakh
  • September 30, 2025: Total Income: Rs. 75.23 lakh, Net Profit: Rs. 40.26 lakh

Half-Yearly Performance (Six months ended):

  • September 30, 2026: Total Income: Rs. 196.20 lakh, Net Profit: Rs. 115.75 lakh, EPS: Rs. 1.63
  • September 30, 2025: Total Income: Rs. 430.81 lakh, Net Profit: Rs. 117.47 lakh, EPS: Rs. 1.65

Balance Sheet Position (Consolidated)

  • Total Assets: Rs. 4,019.90 lakh (Sep 2026) vs Rs. 3,907.53 lakh (Mar 2026)
  • Equity: Rs. 4,003.63 lakh (Sep 2026) vs Rs. 3,887.88 lakh (Mar 2026)
  • Non-Current Assets: Increased to Rs. 1,383.46 lakh from Rs. 749.66 lakh due to new investments
  • Current Assets: Decreased to Rs. 2,636.44 lakh from Rs. 3,157.87 lakh

Strategic Developments

During Q2 FY27, the company expanded its group structure by making capital contributions into two Limited Liability Partnerships:

  • M/s. Sugal Earthen Spaces Developers LLP: Capital contribution of Rs. 375 lakh, 35% profit-sharing ratio, effective August 5, 2026
  • M/s. Solidus Developers LLP: Capital contribution of Rs. 375 lakh, 35% profit-sharing ratio, effective August 5, 2026

The company exercises significant influence over both entities, treating them as associates accounted for using equity method in consolidated financials.

Associate Performance Contribution

For quarter and half-year ended September 30, 2026:

  • Sugal Earthen Spaces Developers LLP: Share of loss Rs. (0.01) lakh
  • Solidus Developers LLP: Share of profit Rs. 0.02 lakh
  • Total: Net share of profit Rs. 0.01 lakh

Segment Information

The company operates primarily in construction and property development segment with no separate reportable segments.

Capital Structure

  • Paid-up equity share capital: Rs. 710.64 lakh (Face Value Rs. 10 per share)
  • Reserves (excluding revaluation): Rs. 3,177.24 lakh as of March 31, 2026

Cash Flow Highlights (Half-year ended September 2026)

  • Operating Activities: Net cash generated Rs. 178.34 lakh
  • Investing Activities: Net cash used Rs. (276.33) lakh (mainly due to Rs. 750 lakh LLP investments)
  • Financing Activities: Net cash used Rs. (0.00) lakh
  • Net decrease in cash: Rs. (97.99) lakh

Auditor's Review

Statutory auditors issued limited review reports for both consolidated and standalone results, noting nothing came to their attention suggesting material misstatement. Emphasis placed on the new LLP investments qualifying as associates under Ind AS 28.