The Board of Directors today approved the Audited Financial Results for the quarter and year ended 31st March, 2025. Enclosed copy of the said results and Auditors report.
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The board approved audited financial results for Q4 and full year FY25, with an unmodified opinion from the auditor S G D G & Associates LLP. Revenue from operations jumped to Rs. 213.16 lakh in FY25 from nearly nil in FY24, driven by recognition of construction revenue of Rs. 213.15 lakh on the new 'F-wing' project at Karjat under Ind AS 115. Total income rose to Rs. 268.64 lakh (vs Rs. 46.35 lakh prior year), aided by Rs. 19.78 lakh profit on sale of the Delhi office. Net loss narrowed sharply to Rs. 26.12 lakh from Rs. 99.36 lakh last year, but the company still reported a loss per share of Rs. 0.06. Loss from discontinued operations stood at Rs. 5.67 lakh. The long-pending Ghatkopar development continues to be stuck in the Supreme Court since 2011, and cash used in operations worsened to Rs. 252.98 lakh (vs Rs. 125.80 lakh prior year). A new secretarial auditor, M/s P Mehta & Associates, was also appointed for five years.
Revenue recognition from the new Karjat F-wing project is a clear positive and the loss has narrowed significantly, but the company remains loss-making, operating cash outflows are deepening, and the Ghatkopar asset remains tied up in court — keeping the near-term earnings story uncertain for shareholders.