Proceedings of the Board Meeting held on November 14, 2025 as per Regulation 30 and 33 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015
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The Board approved the unaudited financial results for Q2 FY26 (quarter ended September 30, 2025). Standalone total income fell to Rs. 631.99 lakhs from Rs. 747.95 lakhs in Q2 FY25, while profit after tax declined to Rs. 349.21 lakhs from Rs. 423.05 lakhs. For H1 FY26, standalone PAT was Rs. 773.68 lakhs versus Rs. 937.50 lakhs in H1 FY25, with EPS of Rs. 20.13 versus Rs. 24.39. On a consolidated basis, the wholly-owned subsidiary Destination Properties Pvt Ltd reported a loss of Rs. 250.42 lakhs in Q2 FY26, dragging group PAT to Rs. 351.23 lakhs. The company noted a change of statutory auditor, with new auditor SK Patodia & Associates LLP issuing an unmodified review report, while the previous firm had audited FY25 and reviewed prior periods. Capital adequacy remains very strong with CRAR at 93.81%.
Year-on-year decline in both revenue and profitability, combined with a loss-making subsidiary and negative operating cash flow in H1 FY26, signals weakening core earnings. The mid-year auditor change and reduced earnings may concern shareholders, though the strong capital position (CRAR ~94%) provides a cushion.