TIVOLI CONSTRUCTION LTD.

Classified in the realty segment as a builder of residential and commercial projects, but currently reports nil revenue from operations on a standalone basis across recent quarters. The standalone entity is essentially dormant, with FY26 standalone total income of about Rs 6.97 lakh, largely non-operating in nature. Consolidated results are driven by its subsidiary, Victoria Investment Company Limited, which appears to earn interest income on advances extended to other parties. The company is very small (FY26 standalone revenue of Rs 0.0695 crore), loss-making, and faces concerns over an Rs 83 lakh advance to a counterparty described as in a 'serious financial crisis' and Rs 119.12 lakh of accumulated interest receivable whose recoverability is under review. Cost shape shows materials at 103.7% of revenue and other operating expenses at 137.4% of revenue, reflecting the negligible revenue base. No active construction, development, or project pipeline is described in the filings reviewed.