Ind Bank Housing Limited reported a net profit of ₹3.88 crore for the quarter ended June 30, 2026, marking a turnaround from the loss of ₹10.91 lakh recorded in the corresponding period of the previous year. The company’s financial performance for Q1FY27 was primarily driven by other income, which surged to ₹319.30 lakh, a substantial increase from the ₹6.23 lakh reported in Q1FY26. Revenue from operations remained nil at ₹0.00 lakh, consistent with the previous quarter and the same period last year, as the company has ceased its housing finance activities.

The Board of Directors approved the unaudited financial results and the limited review report for the quarter ended June 30, 2026, during a meeting held on July 4, 2026. The results were reviewed by the Audit Committee and adopted in accordance with Indian Accounting Standards (IND AS). The company’s operations are currently limited to the recovery and disposal of mortgaged assets following the cancellation of its Certificate of Registration (COR) by the Reserve Bank of India (RBI) in September 2023.

Financial Performance

The company’s total income for the quarter stood at ₹319.30 lakh, up from ₹21.41 lakh in the preceding quarter and ₹6.23 lakh in the year-ago period. Total expenses for Q1FY27 were reported at ₹63.10 lakh, compared to ₹23.17 lakh in the March 2026 quarter and ₹17.14 lakh in Q1FY26. The profit before tax for the period was ₹256.20 lakh, a significant improvement from the loss before tax of ₹10.91 lakh in the same quarter last year.

The tax expense for the quarter included a prior period short provision of ₹131.34 lakh, which impacted the final profit figure. Earnings Per Share (EPS) for the quarter were reported at ₹3.88, compared to a loss of ₹0.11 per share in Q1FY26. The paid-up equity share capital remained constant at ₹1000.00 lakh, while reserves excluding revaluation reserves stood at a negative ₹13096.27 lakh.

Auditor's Report on Going Concern

A.R. Krishnan & Associates, Chartered Accountants, provided a limited review report on the standalone unaudited financial results. The auditors noted that the company’s COR to carry on housing finance business was cancelled by the RBI via letter dated September 22, 2023. Consequently, the Board resolved to cease HFI/NBFI activities and, in November 2023, gave in-principle consent to wind up the company subject to necessary approvals.

The auditors highlighted a material uncertainty related to the company's ability to continue as a going concern. The Board has directed the company to complete the recovery and disposal of mortgaged assets before initiating winding-up proceedings under Section 271 of the Companies Act, 2013. Despite this uncertainty, the auditors concluded that the financial results have been prepared in accordance with applicable accounting standards and disclosure requirements.

Ind Bank Housing Limited has announced the resignation of Shri A. Sivasankar from the Board of Directors. The resignation, which takes effect from the closure of business hours on 30th April 2026, follows his superannuation from the services of HUDCO. The company communicated this development to the stock exchanges in compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Shri A. Sivasankar served as Nominee Non Executive Director on the Board of Ind Bank Housing . His resignation letter, dated 29th April 2026, was formally received by the Board of Directors on the same day. The resignation was submitted consequent upon his superannuation from HUDCO, where he held the position of Regional Chief.

Key Details of the Resignation

The company has provided the following information regarding the director's resignation:

The disclosure was made in accordance with Regulation 30 read with Clause 7B of Para A of Part A of Schedule III of the SEBI (LODR) Regulations, 2015 and SEBI Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated 13th July 2023. The company has enclosed the resignation letter as Annexure B to its communication to the stock exchanges.

Shri A. Sivasankar expressed his gratitude to the Board of Directors for the cooperation and support extended to him during his tenure as Director of the company. His resignation marks the end of his association with Ind Bank Housing Limited as a nominee director representing HUDCO.