Square Four Projects India Limited has announced that its 34th Annual General Meeting (AGM) will be held on Thursday, September 24, 2026. The meeting is scheduled to commence at 4:00 p.m. IST and will be conducted through Video Conferencing (VC) or Other Audio Visual Means (OAVM), allowing shareholders to participate remotely. This procedural update ensures eligible members can exercise their voting rights without physical presence.

The Board of Directors approved the schedule during a meeting held on August 5, 2026. To determine the list of shareholders entitled to attend and vote at the AGM, the Register of Members and Share Transfer Books will remain closed from Friday, September 18, 2026, to Thursday, September 24, 2026 (both days inclusive). Any share transfers registered during this period will not confer voting rights for this specific meeting.

Shareholders wishing to vote electronically must adhere to the specified timeline. The cut-off date for e-voting eligibility is September 17, 2026. The e-voting window opens on Monday, September 21, 2026, at 9:00 a.m. and closes on Wednesday, September 23, 2026, at 5:00 p.m. Votes cast outside this window will not be counted.

Mr. A.K. Labh, a Practicing Company Secretary, has been appointed as the Scrutinizer to oversee the e-voting process and ensure compliance with regulatory standards. His role includes verifying the integrity of the votes cast and submitting a final report to the company.

Key Dates and Timelines

The notice and other documents forming part of the Annual Report will be dispatched to shareholders in due course. The previous meeting referenced in the filing commenced at 4:00 p.m. and concluded at 5:45 p.m., indicating the typical duration for such proceedings. Ganesh Kumar Singhania, Managing Director, signed the communication dated August 5, 2026.

Square Four Projects reported a standalone net profit of ₹2.02 lakh for the quarter ended June 30, 2026, while its consolidated entity posted a net loss of ₹6.91 lakh. The divergence between the parent and group results highlights the financial drag from its subsidiary, BRC Construction Company Private Limited. Statutory auditors P A R V & Associates issued a qualified opinion on both sets of accounts, citing a failure to measure certain financial assets at fair value as mandated by Indian Accounting Standard (Ind AS) 109.

The Board of Directors, led by Managing Director Ganesh Kumar Singhania, approved the unaudited financial results on August 5, 2026, in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The Audit Committee also reviewed the results prior to board approval. The company operates solely in the Real Estate segment, rendering separate segment reporting unnecessary.

Financial Performance

Standalone revenue from operations was nil for the quarter, with total income derived entirely from other income amounting to ₹9.17 lakh. This represents a decline from ₹9.81 lakh in Q1FY25. Total expenses stood at ₹7.15 lakh, driven primarily by other expenses of ₹5.11 lakh and employee benefit expenses of ₹2.04 lakh. Consequently, profit before tax was ₹2.02 lakh, resulting in a net profit of ₹2.02 lakh since no current or deferred tax expenses were recognized for the period.

In contrast, the consolidated statement showed a more challenging picture. Total income for the group was ₹0.34 lakh from other income, with no revenue from operations. Total expenses rose to ₹7.25 lakh, including employee benefits of ₹2.04 lakh and other expenses of ₹5.21 lakh. This resulted in a loss before tax of ₹6.91 lakh, which flowed through to the bottom line as a net loss of ₹6.91 lakh.

Auditor Qualification

The qualified opinion issued by CA Parag Kumar Lath of P A R V & Associates centers on ₹39,50,000 worth of financial assets carried at cost as of June 30, 2026. Under Ind AS 109 and Ind AS 113, these assets should be measured at fair value. The auditors noted that without management’s determination of this fair value, they could not assess the impact on the profit for the quarter or related deferred tax balances. This qualification applies to both the standalone and consolidated financial statements.

Additionally, the consolidated review noted that the interim financial information of the wholly-owned subsidiary, BRC Construction Company Private Limited, had not been reviewed by its own auditor. The subsidiary reported nil revenue and a net loss of ₹9,664.97 for the three months ended June 30, 2026. The parent company’s conclusion on the consolidated statement relies solely on the information furnished by management regarding the subsidiary.

What the Numbers Show

The primary driver of the consolidated loss is the operational drag from the subsidiary, BRC Construction Company Private Limited, which reported a net loss of ₹9,664.97 against nil revenue. While the parent company remains profitable on a standalone basis through other income, the group’s overall health is weighed down by the subsidiary’s performance. The auditor’s qualification regarding the fair value measurement of ₹39,50,000 in financial assets introduces uncertainty into the reported figures, suggesting that the actual financial position could differ if fair value adjustments were applied. Investors should note that the company has no securities listed on recognized stock exchanges that would trigger additional disclosures under Regulation 52(4) of the SEBI LODR Regulations.