Re-appointment of Internal Auditors of the Company for FY 2026-27
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HB Estate Developers Ltd's Board meeting on May 29, 2026 approved the re-appointment of M/s Marv & Associates LLP as Internal Auditors for FY 2026-27. The company also reported audited financial results for FY 2025-26 with total income of Rs. 11,845.51 Lakhs, slightly down from Rs. 12,006.66 Lakhs in the previous year. However, profit after tax increased to Rs. 1,170.38 Lakhs from Rs. 1,079.45 Lakhs (up 8.4%). Cash and cash equivalents nearly tripled to Rs. 1,325.97 Lakhs from Rs. 464.40 Lakhs, while total borrowings reduced from Rs. 28,413.95 Lakhs to Rs. 25,790.43 Lakhs. The statutory auditors issued an unmodified opinion, indicating clean financials. The company operates in the hospitality segment and has one associate entity (Parsvnath HB Projects Private Limited).
The re-appointment of internal auditors is routine and signals continuity in governance practices. The improvement in profitability and significant reduction in debt are positive indicators for shareholders, while the slight revenue decline warrants monitoring.