Cinevista Limited reported a significant expansion in top-line growth for the first quarter of FY27, with revenue from operations rising 62% year-on-year to ₹7.49 crore. The performance was primarily driven by the company's real estate segment, which contributed ₹7.47 crore to the total income, while the legacy media business remained marginal with ₹0.02 crore in revenue.

The Board of Directors, in a meeting held on August 12, 2026, approved the unaudited standalone and consolidated financial results for the quarter ended June 30, 2026. The results were reviewed by the Audit Committee and subsequently signed off by Sarath & Associates, Chartered Accountants, who issued an unmodified review report.

Financial Performance

While revenue surged, net profit remained relatively flat, increasing just 0.6% to ₹1.00 crore compared to ₹0.99 crore in Q1FY26. This divergence between revenue growth and profit stability was largely due to a substantial reduction in finance costs, which fell to ₹49.38 lakh from ₹90.26 lakh in the corresponding previous period.

The profit before tax expanded by 79% to ₹1.78 crore. However, tax expenses stood at ₹78.16 lakh, including ₹75.10 lakh in deferred tax charges, which moderated the bottom-line growth despite the strong pre-tax performance. Other income contributed minimally at ₹1.48 lakh.

What the Numbers Show

The financial data reveals a distinct operational shift within Cinevista Limited. The real estate segment not only accounts for 99.8% of total revenue but also generated a segment profit before tax and interest of ₹234.27 lakh. In contrast, the media business reported a loss of ₹8.10 lakh for the quarter. This concentration indicates that the company’s current profitability is almost entirely dependent on the execution of its real estate projects, specifically the 'Antares' residential project in Kanjurmarg, Mumbai, developed under a joint venture with K Raheja Corp.

Segment Details

The company continues to report under two segments: Real Estate and Media. The real estate business recognized revenue based on the percentage completion method as per Ind AS 115. During the quarter, Cinevista elected to apply the revaluation model under Ind AS 16 to its freehold land asset in Kanjurmarg, though this accounting change had no impact on the profit and loss account.

Consolidated figures mirrored the standalone results, with subsidiaries Cinevista Eagle Plus Media Pvt. Ltd., Chimera Entertainment Pvt. Ltd., and associate Heritage Productions Pvt. Ltd. reporting nil revenues and profits for the quarter.

Cinevista Limited shareholders approved the audited financial statements for the financial year ended March 31, 2026, at the 29th Annual General Meeting held on June 30, 2026. The meeting, conducted at Jashn Studios in Mumbai, saw the adoption of resolutions covering ordinary and special business, including the re-appointment of statutory auditors and key directors. The voting process was overseen by M/s. Manthan Negandhi, Practising Company Secretary, appointed as the scrutinizer in compliance with Regulation 44 of the SEBI (LODR) Regulations, 2015.

Key Resolutions Approved

The members appointed M/s Sarath & Associates as the statutory auditors for a term of five years. Shareholders also approved the re-appointment of Sunil Mehta as Managing Director & Vice-Chairman and Prem Krishen Malhotra as Whole Time Director & Chairman, both after attaining the age of 70 years. Additionally, Mrs. Vinita Concessio was re-appointed as a director liable to retire by rotation.

Financial and Authorizational Approvals

The meeting granted the Board authorization to exercise borrowing powers up to ₹163 crore and to create charges on movable and immovable properties up to the same limit. Shareholders also approved related party transactions up to an aggregate limit of ₹50 crore. Furthermore, consent was sought for the continuation of Mrs. Mahrukh Shavak Chikliwala as a Non-Executive Independent Director after the age of 75 years under Regulation 17(1A) of the SEBI (LODR) Regulations, 2018.

Voting Results and Attendance

A total of 69 members attended the meeting, which commenced at 11:00 am and concluded at 11:36 am. Remote e-voting facilities were provided from June 25, 2026, to June 29, 2026, in accordance with Section 108 of the Companies Act, 2013. All ten resolutions were passed with the requisite majority, with votes cast in favour ranging from 90.55% to 98.36%.