Hemisphere Properties India Ltd. Q3 FY26 Unaudited Standalone Results Approved
Hemisphere Properties India Limited's Board approved unaudited standalone financial results for Q3 FY26. The company reported a net loss of ₹323.58 lakhs for the quarter ended December 31, 2025. The review noted non-compliance with Independent Director appointment rules and outstanding stamp duty provisions.
The reported loss and auditor's observations regarding compliance and liabilities could impact investor confidence and future regulatory actions.
The company reported a net loss for the quarter and highlighted non-compliance issues and unassessed liabilities in the auditor's review report.
Hemisphere Properties India Limited announced the outcome of its Board Meeting held on January 28, 2026. The Board approved and took on record the Unaudited Standalone Financial Results for the quarter ended December 31, 2025. M/s Aggarwal & Rampal, Chartered Accountants, issued an unmodified Limited Review Report on these financial results.
The Board meeting commenced at 3:15 pm and concluded at 4:40 pm. The detailed financial statements are also available on the company's website, www.hpil.co.in.
The Limited Review Report highlighted certain observations. Firstly, the company's non-compliance with provisions related to the appointment of Independent Directors under Section 149 of the Companies Act and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, was noted. Secondly, a provision for stamp duty payable for land parcel registrations amounting to ₹65,100 lakhs (based on FY17 circle rates) was discussed. While some payments have been made, the management has not reassessed the remaining outstanding liability of ₹63,980.21 lakhs as of December 31, 2025. Thirdly, the company has not recognized or accounted for property tax/urban land tax liability for a 53.04-acre land parcel in Chennai, as the management considers the liability not presently determinable.
In terms of financial performance for the quarter ended December 31, 2025, the company reported a revenue from operations of ₹25.55 lakhs and other income of ₹132.17 lakhs, resulting in total income of ₹157.72 lakhs. Total expenses were ₹481.29 lakhs, leading to a loss before tax of ₹323.58 lakhs. The net loss for the period was also ₹323.58 lakhs. For the nine months ended December 31, 2025, total income was ₹415.85 lakhs, while total expenses were ₹1365.47 lakhs, resulting in a loss before tax of ₹949.62 lakhs and a net loss of ₹949.62 lakhs.
During the quarter, the company received ₹49.64 lakhs from Tata Communications Limited, which was adjusted against the impairment loss on trade receivables recognized in the previous financial year.
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