Brahmaputra Infrastructure Limited has secured a major legal victory with the Income Tax Appellate Tribunal (ITAT), New Delhi, ruling in its favour for Assessment Year 2015-16. The company announced this development on March 23, 2026, in compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

ITAT Judgment Details

The favourable judgment pertains to an addition of Rs. 53.50 lacs made by the Assessing Officer under section 68 of the Income Tax Act, 1961, specifically related to cash deposits. The Hon'ble ITAT Bench heard the matter in February 2026 and has now pronounced its judgment, delivering a significant relief to the company.

Legal Proceedings Timeline

The case followed a structured legal progression through various forums. Initially, the Assessing Officer made the addition under section 68 of the Income Tax Act, 1961. When the company challenged this decision, the CIT appeal subsequently confirmed the AO's decision. Following this setback, Brahmaputra Infrastructure Limited escalated the matter to the ITAT, which has now ruled substantially in the company's favour.

Significant Milestone Achievement

The ITAT's decision represents more than just a financial relief for the company. According to the announcement, this favourable outcome marks a significant milestone as Brahmaputra Infrastructure Limited now has no pending income tax cases against it before any forum. This clean slate reaffirms the company's compliance standards and establishes its good standing with tax authorities.

Company Response and Commitment

Brahmaputra Infrastructure Limited has expressed its acceptance and appreciation of the ITAT's decision. The company emphasized its commitment to transparent communication with stakeholders and assured continued updates on material developments. This approach demonstrates the company's dedication to maintaining open dialogue with investors and regulatory compliance.

The announcement was signed by Raktim Acharjee, Whole Time Director (DIN: 06722166), reinforcing the company's formal communication protocols and regulatory adherence.

Brahmaputra Infrastructure Limited has delivered exceptional financial performance for the third quarter of FY2026, demonstrating significant growth across all key metrics. The infrastructure and real estate company's board approved the unaudited financial results for the quarter ended December 31, 2025, during a meeting held on February 14, 2026.

Quarterly Financial Performance

The company's consolidated financial results for Q3FY26 showcase remarkable year-on-year growth across multiple parameters:

The company's tax expenses increased to ₹2.04 crores from ₹0.25 crores in the corresponding quarter of the previous year, reflecting the improved profitability.

Nine-Month Performance Analysis

For the nine-month period ended December 31, 2025, the company maintained strong momentum with consistent growth across all financial metrics:

Segmental Performance Analysis

The company's performance was driven primarily by its EPC Division, which showed exceptional growth during the quarter. The EPC Division revenue increased significantly to ₹88.39 crores in Q3FY26 compared to ₹25.40 crores in Q3FY25. The Real Estate Division and Other Income contributed ₹4.16 crores in Q3FY26 compared to ₹7.05 crores in the previous year.

Business Operations and Order Book

The company has achieved significant business milestones with new order acquisitions worth approximately ₹300.00 crores over the past two months. This achievement demonstrates the effectiveness of strategic initiatives and robust client relationships.

As of February 16, 2026, the cumulative order book, including joint operations and joint ventures, stands at approximately ₹1,050.00 crores. The company is actively engaged in bidding for new projects, with approximately ₹2,000.00 crores worth of orders under consideration through ongoing tenders.

Real Estate Operations

The company's City Centre Shopping Mall operates at full capacity, hosting over 200 renowned brands and retail outlets across four lakh square feet. This represents an expansion from the previously reported 150 brands, reflecting improved occupancy and business growth.

Financial Position and Working Capital

The company has shown significant improvement in working capital management, with net working capital days reducing from 225 days in Q3FY25 to 116 days in Q3FY26. The company's net worth increased to ₹315.40 crores in Q3FY26 from ₹263.54 crores in Q3FY25.

As of December 31, 2025, the company's debt structure includes:

The consortium of lenders holds OCCPS (Optionally Convertible Cumulative Preference Shares) worth ₹165.15 crores, with conversion rights that lapsed on March 31, 2025. The repayment schedule for OCCPS will commence from June 30, 2027, with the instrument being interest-free except for a minimal coupon charge of 0.01%.