This is with reference to the above subject, the unaudited financial results for the company for the quarter ended 30th June 2025 was duly approved and taken on record by the Board of Directors ....
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Garnet Construction Ltd reported Q1 FY26 revenue from operations of Rs 4,038.98 lakhs, up sharply by about 166% from Rs 1,517.51 lakhs in Q1 FY25. Total income rose to Rs 4,043.27 lakhs versus Rs 1,519.09 lakhs a year ago, driven by deliveries in its real estate business. Net profit jumped to Rs 1,821.10 lakhs (up roughly 151% YoY from Rs 724.79 lakhs), translating into basic EPS of Rs 13.10 versus Rs 5.21. Profit before tax stood at Rs 2,440.85 lakhs compared with Rs 974.46 lakhs, while total expenses rose to Rs 1,602.42 lakhs. Statutory auditors Shankarlal Jain & Associates LLP issued an unqualified limited review report with no qualifications, adverse remarks, or emphasis of matter. The company also flagged that, under Ind AS, real estate revenue is recognised on delivery of units, so quarterly figures are not necessarily representative of full-year earnings.
A very strong quarter with revenue and profit more than doubling year-on-year, likely on the back of project deliveries; positive read-through for shareholders, but the lumpy nature of real estate revenue means this single quarter should not be extrapolated into a steady run-rate without further confirmation from upcoming quarters.