Announced Tue, 3 Feb, 2026 · 17:59 IST

Pursuant to Regulation 33 of SEBI (LODR) Regulations, 2015, please find attached Unaudited Financial Results (Standalone) for the quarter and nine months ended December 31, 2025

Going ConcernEmphasis Of MatterRevenue DeclinePat Growth 25pctExceptional ItemResults View source PDF Explain this filing

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+4.3%Reaction day

₹56.85

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Nifty Microcap 250market · in no size index; the smallest one is used+1.3%+3.0% vs market

Residential, Commercial Projects peers, median of 52sector+0.7%+3.6% vs sector

On the reaction day the stock moved 3.0 pts more than Nifty Microcap 250 and 3.6 pts more than its Residential, Commercial Projects peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.

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Reaction day

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UpDownMarket · Nifty Microcap 250Sector · Residential, Commercial Projects peers, median of 52Pending

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AI summary

IITL Projects Ltd reported a net profit of Rs. 63.50 lakhs in Q3 FY26 versus a loss of Rs. 120.79 lakhs in the same quarter last year. For the nine-month period, the company swung to a profit of Rs. 105.76 lakhs from a loss of Rs. 354.60 lakhs a year ago. Revenue from operations remains negligible at Rs. 50.40 lakhs for 9M FY26, with almost all income coming from 'other income' (Rs. 135.07 lakhs). The company reversed an impairment of Rs. 40 lakhs after selling its preference shares in joint venture Capital Infra Projects (CIPL) to Medanta Realestate. Most critically, the company disclosed that its accumulated losses of Rs. 543.19 lakhs exceed its paid-up capital, net worth is fully eroded, and total liabilities exceed total assets. The auditor has flagged this as an emphasis of matter, stating the company is no longer a going concern and the accounts have been prepared on a liquidation-basis assumption. The company has no active business and no operating cash flows.

Likely market impact

Despite the headline return to profit, this is a high-risk filing for shareholders — the company has admitted it is no longer a going concern, its net worth is wiped out, and it has no operating business. The 'profit' is driven by accounting reversals (impairment write-back and preference share redemption extensions) rather than real business activity. Shareholders should view this as a distressed situation, not a turnaround.