We are hereby enclosing the Unaudited Financial Results for the quarter and nine months ended 31st December, 2025.
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The board approved unaudited (standalone & consolidated) results for Q3 FY26 and the nine months ended Dec 31, 2025. Consolidated revenue from operations fell to Rs. 344.10 lakhs (9M FY26) from Rs. 530.98 lakhs (9M FY25), a ~35% year-on-year decline, with the Real Estate segment dragging and Hospitality only marginally profitable. The consolidated net loss narrowed sharply to Rs. 45.88 lakhs in Q3 FY26 from Rs. 154.17 lakhs in Q3 FY25, but standalone reserves remain deeply negative at Rs. (2,709.85) lakhs as on March 31, 2025. The auditor flagged a material uncertainty on going concern for subsidiary Aertha Luxury Homes (eroded net worth) and emphasized that the Enforcement Directorate has provisionally attached certain properties and promoter-held shares under the Prevention of Money Laundering Act, 2002 – the financial impact being unascertainable. Trade payables, receivables, and related-party loans & advances remain subject to reconciliation and confirmation.
Persistent losses, negative reserves, falling revenues, an ED attachment on group assets, and a going-concern flag on a subsidiary point to serious financial stress. Shareholders should watch for further dilution from the pending CCPS conversion (in-principle approval received) and uncertainty over the ED matter's eventual outcome.