Board Meeting Outcomes

The Board of Directors meeting was held on Thursday, May 28, 2026, from 05:00 PM to 05:50 PM at the registered office at Unit No. 927, Gala Empire, Opp. Doordarshan Tower, Drive In Road, Thaltej, Ahmedabad-380054, Gujarat, India.

Key decisions:

  • Considered and approved the audited financial results for the six months and financial year ended March 31, 2026, along with the Audit Report of the Statutory Auditors.
  • Appointment of Mr. Prashant H. Patel as Internal Auditor for the financial year 2026-2027.

Financial Results Overview (Amounts in ₹ Lakhs)

Income Statement Highlights for Year Ended March 31, 2026:

  • Revenue from Operations: ₹892.98
  • Other Income: ₹2.90
  • Total Income: ₹895.88
  • Total Expenses: ₹592.26
  • Profit Before Tax: ₹303.62
  • Total Tax Expenses: ₹83.75
  • Net Profit: ₹219.86

Comparative Figures (Year Ended March 31, 2025):

  • Revenue from Operations: ₹767.73
  • Other Income: ₹0.00
  • Total Income: ₹767.73
  • Total Expenses: ₹483.50
  • Profit Before Tax: ₹284.23
  • Total Tax Expenses: ₹72.93
  • Net Profit: ₹211.30

Half-Yearly Performance (Six Months Ended March 31, 2026):

  • Revenue from Operations: ₹505.00
  • Other Income: ₹2.90
  • Total Income: ₹507.90
  • Total Expenses: ₹367.99
  • Profit Before Tax: ₹139.91
  • Total Tax Expenses: ₹16.81
  • Net Profit: ₹123.10

Earnings Per Share (Annualized):

  • Basic EPS: ₹1.84
  • Diluted EPS: ₹1.84

Share Capital:

  • Paid-up Equity Share Capital: ₹1,29,99,600 (Face value ₹10/- per share)

Balance Sheet Position as at March 31, 2026 (₹ Lakhs)

Liabilities:

  • Non-Current Liabilities: ₹874.29
  • Long Term Borrowing: ₹791.30
  • Deferred Tax Liabilities (Net): ₹63.75
  • Long-term provisions: ₹19.24
  • Current Liabilities: ₹554.57
  • Short Term Borrowing: ₹420.72
  • Trade payables: ₹70.29
  • Other current liabilities: ₹39.44
  • Short term Provisions: ₹24.12
  • Total Liabilities: ₹7,081.78

Assets:

  • Non-Current Assets: ₹6,300.56
  • Property, plant and equipment: ₹3,082.47
  • Intangible assets: ₹0.60
  • Capital Work in Progress: ₹2,682.89
  • Long-term loans and advances: ₹534.60
  • Current Assets: ₹781.23
  • Trade receivables: ₹57.50
  • Cash and cash equivalents: ₹89.14
  • Short-term loans and advances: ₹574.48
  • Other current assets: ₹60.11
  • Total Assets: ₹7,081.78

Cash Flow Statement for Year Ended March 31, 2026 (₹ Lakhs)

  • Cash Flow from Operating Activities: ₹1.55
  • Cash Flow from Investing Activities: ₹(4,983.41)
  • Cash Flow from Financing Activities: ₹4,819.04
  • Net decrease in cash: ₹(162.82)
  • Cash at beginning: ₹251.96
  • Cash at end: ₹89.14

Audit Opinion

Statutory Auditors M/S. PANCHAL SK & ASSOCIATES, Chartered Accountants (FRN: 145989W) issued an unmodified and unqualified audit opinion on the standalone financial results for the half and financial year ended March 31, 2026.

IPO Proceeds Utilization

IPO Details:

  • Amount Raised: ₹48.95 Crore (OFS-₹4.95 Cr.)
  • Utilization as of March 31, 2026:
  • Development of 15 villas and club house: ₹3,589.59 lakh utilized out of ₹3,742.11 lakh allocated (₹152.52 lakh kept as fixed deposit with scheduled commercial bank)
  • General corporate purposes: ₹732.95 lakh fully utilized

Related Party Transactions (FY26)

Disclosed related party transactions totaling ₹328.10 lakh:

1. Basil Buildcon Private Limited (Capital advance: ₹62.00 lakh; Security Deposit: ₹214.50 lakh)

2. Dhavalkumar K. Chokshi (Remuneration: ₹18.00 lakh; Security Deposit: ₹9.00 lakh)

3. Keyur J Patel (Remuneration: ₹18.00 lakh; Reimbursement of Expense: ₹2.50 lakh)

4. Twinkle Rathi (Remuneration: ₹2.40 lakh; Salary payable: ₹0.20 lakh)

Additional Information

  • The company operates in the hospitality segment.
  • Financial results prepared in accordance with Accounting Standards prescribed under Companies Act, 2013.
  • Previous period figures have been regrouped/rearranged/reclassified where necessary.