AJR Infra Q3 FY26 Unaudited Results: Net Loss of ₹1.39 Crore, Revenue ₹245.53 Lakhs
AJR Infra reported un-audited standalone and consolidated results for Q3 FY26. For the quarter ended Dec 31, 2025, net loss was ₹1.39 crore on nil revenue from operations and total income of ₹245.53 lakhs. The nine-month period saw a net profit of ₹30.64 crore, driven by exceptional items of ₹313.19 crore related to an OTS for Sidhi Singrauli Road Projects.
The announcement includes detailed financial results, significant exceptional items, and extensive information on ongoing litigation and stressed projects, which are material to the company's financial health and future prospects. The auditor's report also highlights a material uncertainty related to the going concern assumption.
The company reported a net loss for the quarter, but a significant profit for the nine-month period due to exceptional items. However, the ongoing legal battles and stressed projects indicate a high degree of uncertainty, balancing out the positive financial outcome.
AJR Infra and Tolling Limited (formerly Gammon Infrastructure Projects Limited) announced its un-audited standalone and consolidated financial results for the quarter and nine months ended December 31, 2025. The Board of Directors approved these results in a meeting held on February 24, 2026.
For the quarter ended December 31, 2025, the company reported a total income of ₹245.53 lakhs and total expenses of ₹384.23 lakhs, resulting in a loss before exceptional items and tax of ₹138.70 lakhs. After accounting for tax expenses, the net loss for the period stood at ₹138.62 lakhs. The revenue from operations for the quarter was nil, with total income primarily comprising other income.
The nine-month period ended December 31, 2025, saw a total income of ₹738.39 lakhs and total expenses of ₹458.10 lakhs. This resulted in a profit before exceptional items and tax of ₹280.29 lakhs. However, significant exceptional items, amounting to ₹31,319.27 lakhs related to the reversal of provision towards receivable from SSRPL and recognition of unamortized guarantee commission on OTS of Sidhi Singrauli Road Projects Limited, led to a profit before tax of ₹30,597.52 lakhs. After tax expenses, the net profit for the nine-month period was ₹30,636.42 lakhs.
The company's financial results highlight ongoing legal battles and stressed projects. Note 3 details the Corporate Insolvency Resolution Proceedings (CIRP) initiated for two subsidiary companies, Patna Highway Projects Limited (PHPL) and Rajahmundry Godavari Bridge Limited (RGBL), where the company has lost control. Note 4 elaborates on legal issues and negotiations for projects like Indira Container Terminal, Pravara Renewable Energy Limited, and Sidhi Singrauli Road Project Limited. The company has provided for its entire funded exposure in these SPVs, with significant non-funded exposures remaining, subject to ongoing litigation.
AJR Infra and Tolling Limited also reported the assignment of claims from its pending litigations for its earlier road projects, Gorakhpur Infrastructure Company Private Limited and Igatpuri Highways Private Limited, for an aggregate sum of ₹675 lakhs. The company recognized revenue from this assignment in the second quarter of FY 2025-26.
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