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Quarterly results

consolidated · as filed with NSE · Q1 FY27 back to Q4 FY18

₹ crore	Q1 FY27	Q4 FY26	Q3 FY26	Q2 FY26	Q1 FY26	Q4 FY25	Q3 FY25	Q2 FY25	Q1 FY25	Q4 FY24	Q3 FY24	Q2 FY24	Q1 FY24	Q4 FY23	Q3 FY23	Q2 FY23	Q1 FY23	Q4 FY22	Q3 FY22	Q2 FY22	Q1 FY22	Q4 FY21	Q3 FY21	Q2 FY21	Q1 FY21	Q4 FY20	Q3 FY20	Q2 FY20	Q4 FY18
Revenue from operations	111	86.9	529	137	840	645	330	79	79.5	144	143	68	2.4	58.3	623	10.2	6.9	196	8	8.8	6.9	4.7	10.8	7.8	1.3	−1.6	26.4	132	0
Other income	7.7	5.8	6.7	0.3	58.3	16	9.4	62.8	13.7	8.6	415	822	6.3	17.4	45.5	24	22.2	19.1	6.6	15.7	5.6	42.3	11.9	25.2	27.6	98.8	5.1	−8.7	0
Total expenses	118	163	462	124	879	658	353	310	109	157	80.9	39.8	33.1	123	1,283	32.9	32.5	143	42.9	303	91.5	124	86.5	83.6	154	203	181	200	0
EBITDA	24.3	−45.9	93	42.3	−19.9	27.9	17.9	−210	13.7	32.4	80.6	51.7	−8.7	−44.4	−647	−13.8	−13	59	−12.6	−103	−17.8	−1.8	−7.1	−7.3	−72.5	−75.5	−111	−27	0
EBITDA margin	21.9%	-52.8%	17.6%	30.9%	-2.4%	4.3%	5.4%	-266.0%	17.2%	22.5%	56.4%	76.0%	-358.7%	-76.0%	-103.8%	-136.3%	-187.2%	30.2%	-157.0%	-1174.6%	-256.0%	-39.2%	-65.3%	-93.4%	-5737.1%	4867.0%	-419.5%	-20.5%	–
Finance costs	30.5	26.7	25.1	29.1	18.3	27.4	27.3	8.2	30.1	33.1	5.1	23.4	21.8	19.7	13.5	8.8	12.5	6.2	22.1	191	66.6	117	68.4	68.3	80.2	129	43.3	40.7	0
Depreciation	1.5	3.9	1.2	0.2	0.5	13.2	13.7	13	13.2	12.2	13.6	0.1	0.1	0.1	0.1	0.1	0.1	0.1	0.2	0.2	0.2	0.7	0.2	0.2	0.2	0.3	0.3	0.3	0
Profit before tax	0.1	−25.8	73.4	13.3	36.6	3.3	−13.6	−169	−15.9	−4.3	463	943	−24.4	−46.9	−615	576	−3.3	580	−28.3	−279	−78.9	−77	112	−50.6	−125	−106	−149	−76.6	0
Tax	0.1	0.2	8.4	4.4	12.8	7.6	−20.4	−56.3	−3.7	6.4	0	47.1	1.1	9.3	5.7	9.1	5.4	53.1	−0.1	60.9	5.4	3.3	1.2	2.5	−2	19.8	0.4	19.6	0
Net profit	−1.3	−58.9	62.2	10	13.7	−1.5	7.9	−111	−13.2	−13.3	463	894	−25.9	−41.5	−623	566	8.4	506	−36.3	−352	−96.2	−82	98.6	−60.4	−123	−147	−150	−76.9	0
Net margin	-1.2%	-67.8%	11.8%	7.3%	1.6%	-0.2%	2.4%	-140.7%	-16.6%	-9.2%	324.0%	1314.0%	-1065.3%	-71.2%	-100.0%	5571.2%	121.8%	258.8%	-452.6%	-4001.8%	-1384.0%	-1742.4%	911.3%	-777.9%	-9733.6%	9458.4%	-569.5%	-58.3%	–
EPS (₹)	-0.02	-1.09	1.15	0.19	0.23	-0.04	0.09	-2.12	-0.27	-0.13	9.26	23.01	-0.64	-4.25	-22.70	20.93	0.46	20.81	-1.42	-14.49	-3.80	-3.85	4.09	-2.42	-4.80	-5.58	-5.38	-3.77	0.00
Net profit YoY	−109.7%	−3739.1%	+685.6%	+109.0%	+204.0%	+88.5%	−98.3%	−112.4%	+49.1%	+67.9%	+174.3%	+58.0%	−406.7%	−108.2%	−1613.5%	+260.7%	+108.8%	+717.3%	−136.9%	−482.7%	+21.8%	+44.1%	+165.7%	+21.4%	–	–	–	–	–

Annual results

financial years ending March · from the fourth-quarter filings

₹ crore	FY26	FY25	FY24	FY23	FY22	FY21	FY20	FY18
Revenue from operations	1,593	1,133	357	698	219	24.6	169	120
Other income	71.1	48.1	1,252	109	47.1	107	117	159
Total expenses	1,629	1,376	311	1,471	581	448	655	565
EBITDA	69.7	−97	156	−718	−74.7	−88.7	−231	−315
EBITDA margin	4.4%	-8.6%	43.6%	-102.8%	-34.1%	-361.0%	-136.7%	-262.8%
Finance costs	99.2	92.9	83.3	54.4	286	334	254	125
Depreciation	5.7	53	26.1	0.4	0.7	1.3	1.2	5.9
Profit before tax	97.6	−195	1,378	−88.7	194	−141	−389	−287
Tax	25.8	−72.7	54.6	29.5	121	5	40.6	7.5
Net profit	27	−118	1,317	−90	21.8	−167	−434	−313
Net margin	1.7%	-10.4%	368.5%	-12.9%	9.9%	-679.4%	-256.6%	-261.3%
EPS (₹)	0.50	-2.33	29.63	-2.94	1.11	-6.98	-16.98	-12.90
Net profit YoY	+122.9%	−109.0%	+1563.4%	−513.2%	+113.1%	+61.6%	–	–

EPS is as filed for each period and is not restated for later bonus issues or splits.

Cash flow

annual · ₹ crore

₹ crore	FY26	FY25	FY24	FY23	FY22
Operating cash flow	939	540	237	96.3	−267
Investing cash flow	−336	−689	484	−200	275
Financing cash flow	−580	−595	18	51.7	86.2
Capital expenditure	14	47.7	52.2	0	20.1
Free cash flow (CFO − capex)	925	493	184	96.3	−287

Net profit trend

annual, ₹ crore

FY21

₹−167

FY22

₹21.8+113%

FY23

₹−90−513%

FY24

₹1,317+1563%

FY25

₹−118−109%

FY26

₹27+123%

Result filings

as filed with NSE · PDF and XBRL

Period	Basis	Filed	Documents
Q1 FY27	Consolidated	14 Aug 2026	PDF on NSE XBRL
Q1 FY27	Standalone	14 Aug 2026	PDF on NSE XBRL
Q4 FY26	Consolidated · audited	29 May 2026	PDF XBRL
Q4 FY26	Standalone · audited	29 May 2026	PDF XBRL
Q3 FY26	Consolidated	11 Feb 2026	PDF on NSE XBRL
Q3 FY26	Standalone	11 Feb 2026	PDF on NSE XBRL
Q2 FY26	Consolidated	15 Nov 2025	PDF XBRL
Q2 FY26	Standalone	15 Nov 2025	PDF XBRL
Q1 FY26	Consolidated	14 Aug 2025	PDF XBRL
Q1 FY26	Standalone	14 Aug 2025	PDF XBRL

Annual reports

NSE archive

FY265.09 MB FY252.64 MB FY24 FY23 FY22 FY21 FY20 FY19 FY18 FY17

Key ratios

P/E (TTM)5Y avg 87.8×453.4×

P/B5Y avg 1.71×1.33×

ROEFY26, on average equity0.6%

Net margin1.7%

Debt / equity0.18×

Revenue CAGR (3Y)31.7%

Profit CAGR (3Y)–

EPS (TTM)₹0.22

Market cap₹5,428 Cr

Computed from the filings and the last close. Market cap uses the latest share count from the balance sheet.

P/B vs history

1.33×

vs 8-point avg 1.71× (−22%)

1.11× low1.71× avg2.17× high

History points are balance-sheet dates (2022 → 2026), priced at the adjusted close on each date.

Balance sheet 31 Mar 2026

Total assets₹6,359 Cr−26%

Net worth₹4,092 Cr−16%

Total borrowings₹747 Cr−61%

Cash & bank balances₹54 Cr+46%

Investments₹57 Cr−96%

Inventories₹1,456 Cr−38%

Trade receivables₹282 Cr+12%

Trade payables₹52 Cr−74%

Change vs the same date a year earlier.

Revenue mix FY25

(a) Real Estate Business67.7%result ₹−186 Cr

(b) Hospitality Business*32.3%result ₹83.8 Cr

Segment revenue as reported, before inter-segment eliminations.

Shareholding 30 Jun 2026

%	Jun 26	Mar 26	Dec 25	Sept 25	Jun 25	Mar 25	Dec 24	Sept 24	Jun 24	Mar 24	Mar 24	Dec 23
Promoter	47.17	47.17	47.45	47.43	47.43	47.37	47.37	47.38	47.38	47.44	47.44	50.89
FII	4.79	5.07	4.99	5.17	5.45	4.67	3.57	3.46	3.60	5.22	6.92	2.14
DII	0.39	0.29	0.44	0.51	0.50	0.38	0.43	0.42	0.55	0.76	0.63	0.16
of which MF	0.13	0.14	0.28	0.27	0.38	–	–	–	–	–	–	–
Retail	27.19	26.50	26.81	26.55	25.74	25.63	25.83	24.93	24.63	20.19	17.90	18.64
Other public	20.46	20.97	20.31	20.34	20.88	21.95	22.80	23.81	23.84	26.39	27.11	28.17

86,800 shareholders · NSE shareholding pattern filings.