Graviss Hospitality Limited shareholders have approved the appointment of Amrit Mirpuri as a Non-Executive and Non-Independent Director, strengthening the company’s governance structure with senior industry expertise. The resolution was passed via postal ballot on August 10, 2026, formalizing an appointment that took effect on June 1, 2026. This addition to the Board leverages Mirpuri’s extensive background in real estate development, aligning with the company’s core operational focus.

The approval was secured in compliance with Regulation 30 and Schedule III of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with SEBI Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026. The Postal Ballot Notice was issued on July 10, 2026, to members registered as of July 3, 2026. Remote e-voting was conducted through National Securities Depository Limited (NSDL) from July 11, 2026, at 09:00 A.M. (IST) until August 10, 2026, at 5:00 P.M. (IST), adhering to Section 108 and 110 of the Companies Act, 2013, and Regulation 44 of the Listing Regulations.

Appointment Details

The key details regarding the director’s appointment are outlined below:

Professional Background

Amrit Mirpuri brings approximately 35 years of diverse professional experience to Graviss Hospitality. His expertise spans real estate development and construction management, accompanied by extensive networks with suppliers, vendors, OEMs, and other partners involved in building development. Beyond his corporate role, Mirpuri is engaged in philanthropic initiatives, including associations with institutions such as Tata Memorial Hospital and various charitable organizations. His appointment introduces deep sector-specific knowledge to the Board, potentially aiding strategic oversight in property development and infrastructure projects.

Graviss Hospitality reported a consolidated net loss of ₹1.52 crore for the first quarter of fiscal year 2027 (Q1FY27), a 31% improvement from the ₹2.22 crore loss recorded in the corresponding period of the previous fiscal year. The Mumbai-based hospitality group saw its revenue from operations rise 18% year-on-year to ₹13.81 crore, reflecting increased business activity despite persistent profitability challenges. Standalone results showed a net loss of ₹100 lakh for the quarter, compared to a loss of ₹176 lakh in Q1FY26.

The Board of Directors approved the unaudited standalone and consolidated financial results on August 11, 2026, pursuant to Regulation 30 and Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The results were reviewed by the Audit Committee and subjected to a limited review by the statutory auditors, A. T. Jain & Co. The figures for the quarter ended March 31, 2026, are balancing figures between audited full-year data and previously published unaudited year-to-date figures.

Financial Performance

Consolidated revenue from operations stood at ₹13.81 crore in Q1FY27, up from ₹11.70 crore in Q1FY26. Total income, including other income of ₹28 lakh, reached ₹14.10 crore. However, total expenses increased to ₹15.74 crore from ₹14.85 crore in the prior year period. Employee benefit expenses were ₹36.60 lakh, while other expenses accounted for ₹76.10 lakh. The company incurred a profit before tax deficit of ₹16.50 lakh, which was partially offset by deferred tax credits of ₹12 lakh, resulting in the net loss of ₹152 lakh.

On a standalone basis, revenue from operations was ₹13.43 crore, compared to ₹11.15 crore in Q1FY26. Total expenses amounted to ₹14.77 crore, leading to a profit before tax loss of ₹11.20 lakh. After accounting for deferred tax credits of ₹12 lakh, the standalone net loss was ₹100 lakh. Earnings per share (basic and diluted) were negative ₹0.22 on a consolidated basis and negative ₹0.14 on a standalone basis.

Subsidiary Concerns and Auditor Emphasis

A significant disclosure in the filing relates to the financial health of the group’s subsidiaries. A. T. Jain & Co., in its limited review report, included an emphasis of matter paragraph highlighting that accumulated losses of three subsidiaries—Graviss Catering Private Limited, Graviss Hotels and Resorts Limited, and Graviss Restaurants Private Limited—exceeded their net worth as of June 30, 2026.

Management stated that there is no diminution in the value of investments in these subsidiaries and that loans granted to them are considered good for recovery. This assessment is based on the expectation that the subsidiaries will secure regular orders and explore alternate business plans. The holding company has granted interest-free loans to these entities. The auditor noted that their conclusion is not modified regarding this matter, but drew attention to it for users of the financial statements.