Unitech Limited reported a net loss of ₹1,790.05 crore for the fiscal year ended March 31, 2026, narrowing from the previous year's loss of ₹1,850.18 crore. The Board of Directors approved the audited standalone and consolidated financial results for the quarter and year ended March 31, 2026, at a meeting held on May 28, 2026. The company's total income for the year stood at ₹3,802.84 crore, while total expenses amounted to ₹18,523.87 crore.

Financial Performance

The standalone financial results for the year ended March 31, 2026, reflect the company's ongoing financial challenges. Revenue from operations was ₹3,409.88 crore, while other income contributed ₹392.96 crore. The company reported a basic and diluted earnings per share (EPS) of ₹(6.84) for the year.

Auditor's Report

G S A & Associates LLP, the statutory auditors, issued a disclaimer of opinion on the standalone financial results. The report cites material uncertainty related to the company's ability to continue as a going concern, citing eroded net worth, incurred losses, and challenges in meeting obligations. The auditors also noted significant legacy issues inherited from the erstwhile management, including the absence of impairment assessments for investments and loans, and the non-recognition of fair value of estimated loss allowances on financial instruments.

The auditors highlighted that the Resolution Framework (RF) for the Unitech group, filed with the Hon’ble Supreme Court, has not yet been approved. Consequently, the impact of proposed reliefs and concessions has not been considered in the books of accounts. Additionally, the company faces 2,431 pending litigations, the financial impact of which is indeterminable.

Operational and Regulatory Updates

The Board noted that the Hon’ble Supreme Court has directed the company and secured creditors to engage in dialogue to explore the possibility of a One Time Settlement (OTS). The Board has held meetings with creditors and placed recommendations before the Court. Furthermore, the Court has directed NOIDA to approve revised layout plans for specific projects, which have been granted.

The company continues to face delays in the payment of dues to lenders, with total outstanding borrowings amounting to ₹10,95,453.02 lakh as on March 31, 2026. The management stated that it is in the process of reconciling balances, conducting physical verification of assets, and assessing the net realizable value of inventories to address the legacy issues.

In compliance with Regulation 30 and 47 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, Unitech Limited disclosed that the financial results were published in all editions of 'Mint' and 'Veer Arjun' (Delhi edition) on May 29, 2026.

Praveen Gurnani has submitted a declaration under SEBI (SAST) Regulations 31(4) for the financial year ended 31st March 2026, disclosing his shareholding in Unitech Limited while formally protesting his classification as a Promoter Group member. The declaration reveals ongoing corporate governance issues and legal disputes surrounding shareholding categorization.

Shareholding Details and Current Status

As of 31st March 2026, Gurnani holds 42,75,310 equity shares of face value ₹2 each in Unitech Limited. His shareholding summary presents a clear picture of his current position:

Significantly, these shares have been marked as "Suspended for Debit" in his demat account since 31st December 2018. Gurnani explicitly states that no encumbrances were made during the financial year 2025-26 and argues that his shares should not be counted towards Promoter/Promoter Group/PAC shares.

Persistent Reclassification Requests

Gurnani's efforts to seek reclassification from Promoter Group to Public category span nearly eight years, beginning with his first communication on 16th May 2018. His correspondence with Unitech Limited demonstrates a systematic approach across multiple channels:

• Physical submissions: Direct submissions at Unitech office
• Postal communications: Speed post deliveries to company address
• Digital correspondence: Email communications to company officials
• Regulatory engagement: Direct communications with BSE and NSE

The communications timeline shows eleven separate attempts between May 2018 and April 2025, with increasing frequency in recent years. Despite this persistent engagement, the Board of Directors of Unitech Limited has rejected his reclassification requests on multiple occasions.

Legal Proceedings and Supreme Court Intervention

Following advice from Unitech Limited's Board of Directors to approach the Supreme Court of India, Gurnani has filed relevant applications seeking judicial intervention. The pending applications before the Hon'ble Supreme Court include:

• IA no. 298073/2024: Impleadment application
• IA no. 297931/2024: Direction application

These applications seek directions for reclassification of his name from Promoter Group to Public shareholder in Unitech Limited's shareholding pattern.

Declaration Under Protest

Gurnani's declaration emphasizes his position that he does not consider himself part of the Promoters, Promoter Group, or PAC of Unitech Limited. He categorically states having no role in the company's functioning or decision-making at any point in time. The declaration serves as both a regulatory compliance measure and a formal protest against his current classification.

The matter highlights ongoing complexities in corporate shareholding classifications and the challenges faced by individuals seeking to modify their regulatory status within listed companies. Gurnani continues to request immediate reclassification without further delay, describing his disclosure as "full and frank" in compliance with regulatory requirements.