Board Meeting Details
The Board of Directors meeting was held on May 25, 2026, from 4:30 PM to 5:15 PM. The board approved the Audited Financial Results (Standalone and Consolidated) for the Quarter and Financial Year ended March 31, 2026, and the Balance Sheet and Profit & Loss Account as on that date.
Financial Results Overview
Standalone Performance (Rs. in Lakhs)
- Q4 FY26 Revenue from Operations: ₹649.51
- Q4 FY26 Total Income: ₹814.10
- Q4 FY26 Net Loss: ₹759.75
- FY26 Revenue from Operations: ₹2,305.82
- FY26 Total Income: ₹3,161.04
- FY26 Net Loss: ₹1,805.59
- Basic EPS FY26: (₹2.59) per share of ₹10 each
Consolidated Performance (Rs. in Lakhs)
- Q4 FY26 Revenue from Operations: Not separately stated in consolidated segment
- Q4 FY26 Total Income: ₹874.80
- Q4 FY26 Net Loss: ₹806.14
- FY26 Revenue from Operations: Not separately stated in consolidated segment
- FY26 Total Income: ₹4,711.01
- FY26 Net Loss: ₹2,996.05
- Basic EPS FY26: (₹4.29) per share of ₹10 each
Segment-wise Performance (Standalone)
Construction and Development
- Q4 FY26 Revenue: ₹314.60
- Q4 FY26 Segment Result: (₹843.67)
- FY26 Revenue: ₹1,093.32
- FY26 Segment Result: (₹2,100.30)
Hospitality - Hotels and Resorts
- Q4 FY26 Revenue: ₹334.91
- Q4 FY26 Segment Result: ₹9.05
- FY26 Revenue: ₹1,212.50
- FY26 Segment Result: (₹208.89)
Auditor's Emphasis of Matter
The independent auditor, Karumanchi & Associates, highlighted three key matters:
1. NCLT Settlement: Hon'ble NCLT, Hyderabad referred matters for mediation to International Arbitration and Mediation Centre (IAMC) regarding cases filed by Whitestock Limited against Prajay Properties Private Limited (associate) and Belclare Limited against Prajay Holdings Private Limited (subsidiary). A Settlement Agreement has been executed and filed with NCLT, Hyderabad, and the cases have been disposed off.
2. Arbitration Proceedings: The Government of Andhra Pradesh (now Telangana) and the Company (with subsidiary Secunderabad Golf and Leisure Resort Private Limited) entered into Lease and Construction & Management Agreements. The Company invoked arbitration due to disputes, and Hon'ble High Court appointed Hon'ble S M Rafee (Retired District Judge) as Arbitrator on July 28, 2022 (Arbitration Application No. 86 of 2022). Proceedings are in progress.
3. Trade Receivables: ₹4,317.53 lakhs (standalone) and ₹4,412.34 lakhs (consolidated) in trade receivables are outstanding. Auditors unable to comment on realization without confirmation. Provision of ₹1,246.96 lakhs set aside for doubtful receivables from earlier years. Bad debts written off: ₹947.81 lakhs (current year) vs. ₹1,026.22 lakhs (previous year).
Capital Structure Impact
- The company allotted 72,69,566 Convertible Warrants at an issue price of ₹23 each (including premium of ₹13 per warrant) on a preferential basis.
- 25% of issue price (₹5.75 per warrant) received upfront.
- Each warrant convertible into one equity share of ₹10 each on payment of balance ₹17.25 within 18 months.
- 36,89,304 warrants allotted to promoters, with 25% issue price appropriated against loan repayment.
Assets and Liabilities Position (Standalone as of March 31, 2026)
- Total Assets: ₹69,795.85 lakhs
- Property, Plant and Equipment: ₹14,176.10 lakhs
- Capital Work-in-Progress: ₹8,689.77 lakhs
- Inventories: ₹23,084.51 lakhs
- Trade Receivables: ₹4,317.53 lakhs
- Cash and Cash Equivalents: ₹389.90 lakhs
- Total Equity: ₹50,056.20 lakhs
- Borrowings: ₹10,416.54 lakhs (₹895.39 non-current + ₹9,521.15 current)
- Trade Payables: ₹5,277.88 lakhs
Cash Flow Statement (Standalone FY26)
- Net Cash from Operating Activities: ₹2,592.72 lakhs
- Net Cash Used in Investing Activities: (₹1,364.34) lakhs
- Net Cash Used in Financing Activities: (₹911.78) lakhs
- Net Increase in Cash: ₹316.60 lakhs
Declaration
D. Vijay Sen Reddy, Chairman & Managing Director (DIN: 00291185), declared compliance with Regulation 33(3)(d) of SEBI LODR Regulations, confirming the auditors issued an unmodified opinion.