APPROVAL OF AUDITED FINANCIAL RESULTS FOR THE QUARTER AND FINANCIAL YEAR ENDED MARCH 31, 2025, The Board approved and taken on record, inter alia, the Audited Financial Results of the Company ....
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The Board approved audited results for FY25, with revenue from operations nearly doubling to ₹106.49 lakhs (vs ₹53.49 lakhs in FY24). Total income rose ~95% to ₹366.29 lakhs, but a large chunk (₹258.25 lakhs) came from a one-time gain on sale of a Transferable Development Right (TDR) booked under 'Other Income'. Profit before tax was almost flat at ₹326.33 lakhs (vs ₹325.95 lakhs in FY24), while PAT declined ~16% to ₹271.26 lakhs because FY24 had a lower tax outgo thanks to an exceptional loss of ₹173.55 lakhs. Cash from operations turned positive at ₹17.53 lakhs and cash balances nearly doubled to ₹1,099.40 lakhs. Total assets grew to ₹1,335.63 lakhs, and the company has no outstanding borrowings. The auditor (NVM & Co) issued a clean, unqualified opinion with no going concern issues. Separately, the company surrendered its NBFC registration with RBI effective March 20, 2025, and is altering its MOA to drop NBFC objects. Mr. Verinder Kumar Bathla was appointed as Independent Director for 5 years from September 28, 2025.
Core operating income is growing well, but headline profit is propped up by a non-recurring TDR sale — investors should look at operating profitability rather than total income. The exit from NBFC business is a strategic shift that changes the company's future business mix and may affect valuation. Strong cash position, zero debt, and a clean audit are positive signs for shareholders.