We wish to inform you that the Board of Directors of the Company at their meeting held on 23rd May, 2025 has inter-alia approvals of the following matters: 1. Consider and approve the ....
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The Board approved the audited financial results for Q4 and FY25 along with the Director's Report and AGM convening. Revenue from operations collapsed sharply to just Rs 40 lakhs in FY25 from Rs 9,925.66 lakhs in FY24, while total income fell to Rs 750.95 lakhs from Rs 10,592.72 lakhs. Net profit from continuing operations was Rs 226.06 lakhs (vs Rs 8,249.04 lakhs prior year), with the company now reporting under a single 'Real Estate' segment. Most of the profit is driven by other income (mainly interest on bank deposits of Rs 663 lakhs), not active business. Operating cash flow turned negative at Rs -653 lakhs versus a positive Rs 4,429 lakhs last year. Auditor Sanmarks & Associates issued a clean (unqualified) opinion.
This is a concerning development — the company's core business has effectively wound down, and reported profit is sustained mostly by interest income from parked fixed deposits (over Rs 6,400 lakhs in bank balances). Operating cash burn and near-zero revenue suggest shareholders should watch for any value-unlock or asset-sale announcements rather than expecting growth.