Binny Q3 profit rises 15.8% to ₹115.48 crore, revenue up
Binny Limited's Q3FY26 standalone net profit rose 15.8% to ₹115.48 crore, with revenue from operations increasing to ₹190.83 crore. Auditors qualified the report due to concerns over advances to RRB Energy Limited and deferred revenue recognition for Sankhlecha Infra Projects. The company is pursuing insolvency proceedings against RRB Energy and awaits balance payments to recognise revenue from the land sale.
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Binny Limited reported a 15.8% rise in standalone net profit to ₹115.48 crore for the quarter ended December 31, 2025, supported by a significant increase in revenue from operations. The company's revenue from operations for the quarter stood at ₹190.83 crore, compared to ₹144.26 crore in the preceding quarter ended September 30, 2025. For the nine months ended December 31, 2025, the net profit was ₹252.38 crore on a total income of ₹444.35 crore.
The Board of Directors approved the unaudited financial results for the quarter and nine months ended December 31, 2025, at a meeting held on June 20, 2026. The results were reviewed by the Audit Committee and are subject to a Limited Review Report by the statutory auditor. The company operates a single business segment focused on real estate.
Venkatesh & Co., Chartered Accountants, issued a qualified conclusion in their review report. The auditors noted that the company had advanced ₹2,918.05 lakhs to RRB Energy Limited, for which sufficient appropriate audit evidence supporting recoverability was not provided. No impairment has been considered in the financial results, though the company has filed an application before the National Company Law Tribunal (NCLT), New Delhi, seeking initiation of insolvency proceedings against the party. The tribunal admitted the application on February 19, 2026.
Additionally, the auditors highlighted a sale agreement with M/s Sankhlecha Infra Projects Private Ltd for a total consideration of ₹4,170 lakhs. While possession of the land was handed over and construction completed, the company has not recognised revenue in accordance with Ind AS 115 due to the non-receipt of the balance consideration of ₹1,912.00 lakhs. The management stated that revenue would be recognised upon receipt of the balance amount and execution of the sale deed.
The financial results include revenue recognised under a Second Amended and Reinstated Joint Development Agreement dated August 6, 2025, amounting to ₹4,189.44 lakhs. This settlement, valued using the Discounted Cash Flow method, involves a lump sum payment for Phase I development and an area-sharing model for Phase II. The company also reported progress on the implementation of a settlement scheme with M/s Mohan Breweries and Distilleries Limited, including the sale of windmill and Chengalpet lands.
Standalone Financial Results (INR in Lakhs)
| Particulars | Quarter Ended 31.12.2025 | Quarter Ended 30.09.2025 | Nine Month Ended 31.12.2025 | Year Ended 31.03.2025 |
|---|---|---|---|---|
| Revenue from operations | 1,908.34 | 1,442.55 | 4,292.04 | 8,298.91 |
| Total Income | 1,908.42 | 1,591.36 | 4,443.46 | 8,633.14 |
| Total Expenses | 316.54 | 311.95 | 867.60 | 2,601.23 |
| Profit before tax | 1,591.88 | 1,279.41 | 3,575.86 | 6,031.90 |
| Profit for the period | 1,154.77 | 997.84 | 2,523.83 | 4,651.91 |
| Earnings per share (Basic) | 5.17 | 4.47 | 11.31 | 20.84 |
What is the estimated timeline for the insolvency proceedings against RRB Energy Limited to yield a recovery?
When does the company expect to receive the balance consideration from M/s Sankhlecha Infra Projects to recognise the pending revenue?
How will the Phase II area-sharing model under the Joint Development Agreement impact future revenue streams?
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