Financial Results Approval

The Board approved the Audited Financial Results along with Audit Report for the quarter and year ended March 31, 2026, which had been duly reviewed and recommended by the Audit Committee.

Key Financial Figures (INR in lakhs)

Income Statement for Year Ended March 31, 2026:

  • Revenue from operations: ₹1,491.93
  • Other income: ₹125.99
  • Total income: ₹1,617.92
  • Total expenses: ₹2,062.22
  • Loss before tax: ₹(570.29)
  • Tax expense: ₹(68.63) [Current tax: ₹0, Deferred tax: ₹(68.63)]
  • Net loss for the year after tax: ₹(501.66)
  • Total comprehensive loss: ₹(501.66)
  • Basic earnings per share: ₹(0.83)
  • Diluted earnings per share: ₹(0.83)

Balance Sheet as at March 31, 2026:

  • Total assets: ₹7,513.18
  • Equity share capital: ₹6,066.84
  • Other equity: ₹(4,017.08)
  • Total equity: ₹2,049.76
  • Non-current liabilities: ₹3,739.59
  • Current liabilities: ₹1,723.83
  • Total equity and liabilities: ₹7,513.18

Cash Flow Statement for Year Ended March 31, 2026:

  • Net cash used in operating activities: ₹(49.01)
  • Net cash from investing activities: ₹0
  • Net cash from financing activities: ₹245.26
  • Net decrease in cash and cash equivalents: ₹(31.46)
  • Cash and cash equivalents at beginning: ₹47.96
  • Cash and cash equivalents at end: ₹16.50

Segment Information

For Year Ended March 31, 2026:

  • Hotel Business Revenue: ₹1,491.93
  • Hotel Business Segment Results: ₹(501.66)
  • Infrastructure Business Revenue: ₹0 (compared to ₹130.00 in prior year)
  • Infrastructure Business Segment Results: ₹0 (compared to ₹121.60 in prior year)
  • Total Segment Assets: ₹7,513.18
  • Total Segment Liabilities: ₹7,513.18

Significant Disclosures and Notes

1. The company executed a lease agreement with Airports Authority of India (AAI) for renewal of leasehold rights for another 30 years from 2023. Finance cost for the year ended March 31, 2026 of ₹478.55 lakhs includes interest expense on lease liability of ₹440.07 lakhs, which is notional.

2. During the year, the company made a payment of ₹99.91 lakhs to Telangana State Power Distribution Company Ltd (TGSPDCL) under protest, towards Cross Subsidy Surcharge (CSS) for availing electricity from third party power generators 25-30 years ago. The matter is currently sub-judice before the Telangana High Court, which granted a stay and directed payment of 50% of the demand amount. Pending final adjudication, the amount has been disclosed under "Other non-current assets" with no provision made in the books. Management believes it has a strong case and the likelihood of liability crystallizing is remote.

3. During the year, pursuant to implementation of the new labour code in India, the company reassessed its gratuity obligation based on an independent actuarial valuation, resulting in a one-time charge of ₹10.56 lakhs recognized under employee benefits expense.

4. The previous period figures have been regrouped/reclassified wherever necessary.

5. The investors complaints position is Nil.