Hemisphere Properties India Limited has announced its unaudited standalone financial results for the quarter ended June 30, 2026. The Board of Directors, in a meeting held on August 11, 2026, approved these results. The company reported a significant net loss of ₹320.24 lakh for the quarter. M/s Aggarwal & Rampal, Chartered Accountants, have issued an unmodified Limited Review Report on these results.
Unaudited Financial Results for Q1 FY27 Approved
The Board of Directors of Hemisphere Properties India Limited met on Tuesday, August 11, 2026, to consider and approve the unaudited standalone financial results for the quarter ended June 30, 2026. These results were taken on record following the board’s approval.
Key Financial Highlights
During the quarter ended June 30, 2026, the company reported a total income of ₹78.89 lakh. The total expenses for the same period amounted to ₹399.13 lakh. This resulted in a Profit/(Loss) before exceptional items and tax of (₹320.24) lakh. After accounting for tax expenses, the Profit/(Loss) for the period from continuing operations was also (₹320.24) lakh. The total comprehensive income for the period stood at (₹320.24) lakh. Earnings Per Equity Share (Basic and Diluted) were reported at (₹0.11).
Limited Review Report
The financial results have undergone a limited review by the statutory auditors, M/s Aggarwal & Rampal, Chartered Accountants. They have issued an unmodified opinion on the aforementioned financial results, confirming their adherence to accounting standards and regulations.
Availability of Financials
The approved financial statements and the Limited Review Report are made available on the company’s official website, www.hpil.co.in, for public access.
Board Meeting Details
The Board meeting commenced at 12:20 PM and concluded at 1:20 PM on August 11, 2026.
Notes on Financial Statement
- The unaudited financial results were duly reviewed and recommended by the Audit Committee of the Company prior to being taken on record by the Board of Directors.
- The figures for the quarter ended March 31, 2026, represent balancing figures between the audited full financial year results and the published nine-month figures.
- The financial statements have been prepared in compliance with Indian Accounting Standards (Ind-AS), Section 133 of the Companies Act, 2013, and relevant SEBI Regulations.
- A significant note highlights the company’s e-auction conducted on May 12, 2026, for a land parcel in Pune, Maharashtra, where Hypervault AI Data Center Limited emerged as the successful bidder for ₹640.50 crore.
- The company is engaged in the Real Estate business, and its results are considered to constitute a single reportable primary business segment.
- Provisions for Income Tax/Deferred Tax are assessed annually, not on a quarterly basis.
- Comparative figures have been regrouped or rearranged as necessary for consistency.
Auditor’s Limited Review Report Observations
The limited review report by Aggarwal & Rampal highlights several points:
- Non-compliance with Director Appointment Regulations: The company may not have complied with Section 149 of the Companies Act and related rules, and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, concerning the appointment of Independent Directors and their committees. The consequential effect remains unascertained.
- Stamp Duty Provision: A provision of ₹65,100 lakh for stamp duty on land parcels was computed based on FY 2016-17 circle rates. The actual liability may vary. While some payments have been made, the management has not reassessed the remaining outstanding liability of ₹63980.21 lakh as of June 30, 2026.
- Property Tax Accounting: The company has not recognized or accounted for Urban Land Tax liability for a 53.04-acre land parcel in Chennai, as the management deems the liability not presently determinable.
- Stamp Duty Notice: The Revenue Department, NCT of Delhi, issued a notice dated March 10, 2026, regarding alleged short payment of stamp duty on share allotment on May 18, 2021, and November 17, 2021. The company has filed a representation against this notice, which is pending.
The auditors concluded that, based on their review, nothing has come to their attention that suggests the financial statement contains material misstatements or fails to disclose required information.
Source: BSE
