To consider and approve the Standalone and Consolidated Unaudited Financial Statements for the Quarter and half year ended 30th September, 2025
Awaiting price reaction for this filing.
Avishkar Infra Realty Ltd (formerly Joy Realty Ltd) reported a standalone net profit of Rs. 19.91 lakhs for Q2 FY26 against a loss of Rs. 21 lakhs in Q2 FY25, with H1 FY26 standalone profit at Rs. 42.11 lakhs versus a loss of Rs. 51.17 lakhs last year. Revenue from operations is nil for both the quarter and half-year, with all income coming from 'Other Income' of Rs. 94.33 lakhs in H1. Consolidated results paint a weaker picture with H1 FY26 net loss of Rs. 96.90 lakhs (versus profit of Rs. 51.17 lakhs standalone prior year), dragged by subsidiary Avishkar Keval Kunj Redevelopment Pvt Ltd. The consolidated balance sheet shows negative net worth (Other Equity of Rs. -896.60 lakhs) and total borrowings of Rs. 1,994.96 lakhs. Both standalone and consolidated operating cash flows are negative at Rs. -120.55 lakhs and Rs. -224.13 lakhs respectively, and cash on hand is razor-thin at Rs. 1.92 lakhs standalone.
The standalone turnaround is driven entirely by non-operating income with zero core revenue, while the consolidated entity is loss-making with negative book value and high debt. Negative operating cash flow and minimal cash reserves indicate continued financial stress. Shareholders should view this cautiously — the apparent improvement is not from real estate operations.