To consider and Approve the Standalone and Consolidated Financial Result for the quarter and half year ended 30th September, 2025
Awaiting price reaction for this filing.
Avishkar Infra Realty (formerly Joy Realty) reported standalone profit of Rs 19.91 lakh for Q2 FY26 and Rs 42.11 lakh for H1 FY26, swinging from a loss of Rs 21 lakh in Q2 FY25. Revenue from operations stood at nil across the period, with the company relying entirely on other income (mainly interest/dividends) of Rs 94.33 lakh for H1 FY26. On a consolidated basis, the company swung to a loss of Rs 96.90 lakh in H1 FY26, dragged down by project-related expenses of its subsidiary Avishkar Keval Kunj Redevelopment Pvt Ltd. Auditor SDPM & Co. issued an unmodified limited review report on both sets of results. The consolidated balance sheet shows borrowings of Rs 1,994.96 lakh against negative other equity of Rs 896.60 lakh, indicating a very high debt-to-equity ratio. Operating cash flow was negative on both standalone (Rs -120.55 lakh) and consolidated (Rs -224.13 lakh) bases.
The standalone turnaround is encouraging but is driven by non-operating income rather than core business activity. The consolidated picture is weak — losses, highly leveraged balance sheet with negative reserves, and negative operating cash flows point to ongoing stress, especially in the subsidiary's redevelopment project.