IITL Projects Limited has fulfilled its quarterly regulatory compliance obligations by submitting the mandatory confirmation certificate under SEBI regulations for the quarter ended March 31, 2026. The submission was made to BSE Limited on April 07, 2026, demonstrating the company's adherence to prescribed regulatory timelines.

Regulatory Compliance Submission

The certificate was submitted pursuant to Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018. Ms. Harshida J. Parikh, Manager & Company Secretary, signed the submission letter on behalf of IITL Projects Limited. The company maintains its BSE scrip code 531968 for trading purposes.

Registrar Confirmation

Purva Sharegistry (India) Private Limited, serving as the company's registrar and share transfer agent, provided the confirmation certificate. The registrar holds SEBI registration number INR000001112 as a Category 1 Registrar for IPO and Share Transfer Agent services. Ms. Deepali Gaonkar, Compliance Officer at Purva Sharegistry, signed the confirmation on April 01, 2026.

Dematerialization Activity Report

The quarterly report reveals no dematerialization activity during the period from January 01, 2026 to March 31, 2026. The detailed breakdown shows:

Regulatory Framework

The submission ensures compliance with SEBI's depositories and participants regulations, which require companies to confirm that securities received from depository participants for dematerialization are properly processed within prescribed timelines. The regulations mandate that security certificates received for dematerialization must be confirmed or rejected, with certificates being mutilated and cancelled after due verification by the depository participant.

Distribution and Record Keeping

The confirmation certificate was distributed to key stakeholders including National Securities Depository Limited and Central Depository Services India Limited, ensuring comprehensive record maintenance across all relevant depositories. This systematic approach maintains transparency in the company's share transfer and dematerialization processes.

IITL Projects Limited announced its unaudited standalone financial results for the quarter and nine months ended December 31, 2025, showing a remarkable turnaround to profitability despite facing severe going concern challenges. The Board of Directors approved these results in their meeting held on February 03, 2026, which commenced at 03:36 p.m. and concluded at 04:04 p.m.

Financial Performance Overview

The company demonstrated a significant improvement in its quarterly performance, reporting net profit of ₹63.50 lakhs in Q3 FY26 compared to a loss of ₹120.79 lakhs in the corresponding quarter of the previous year. This represents a substantial turnaround of ₹184.29 lakhs year-over-year.

Nine-Month Performance Analysis

For the nine-month period ended December 31, 2025, IITL Projects reported net profit of ₹105.76 lakhs, a dramatic improvement from the loss of ₹354.60 lakhs in the corresponding period of FY25. The company's total income for nine months stood at ₹135.07 lakhs compared to ₹208.52 lakhs in the previous year.

Critical Financial Position and Going Concern Issues

Despite the improved operational performance, IITL Projects faces severe financial distress. As of December 31, 2025, the company's accumulated losses of ₹543.19 lakhs exceed its paid-up equity share capital of ₹499.09 lakhs, resulting in complete erosion of net worth. The total liabilities exceed total assets, indicating a precarious financial position.

The statutory auditors, Maharaj N R Suresh & Co. LLP, have highlighted significant going concern issues in their limited review report. They noted that the company has no business operations of its own and currently lacks other cash flows, leading to the cessation of going concern status.

Corporate Actions and Strategic Developments

The company completed several important corporate actions during the period:

Regulatory Compliance and Tax Position

The financial results comply with Regulation 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company is subject to income tax under section 115BAA of the Income Tax Act 1961, with current tax provision of ₹8.03 lakhs for Q3 FY26. The results were submitted to BSE Limited under scrip code 531968.

Outlook and Challenges

While IITL Projects has achieved operational profitability in the current period, the company's fundamental challenges remain significant. With its main business focus on real estate development and related activities, the company operates as a single reportable segment under Ind AS 108. The financial statements have been prepared on a non-going concern basis, with assets valued at realization value where lower than cost, reflecting the company's distressed financial condition.