Hemisphere Properties India Limited (HPIL) has announced significant developments in its recent board meeting, including the approval of quarterly results, allotment of preference shares, and a major land sale approval. These updates reflect important corporate actions and financial decisions that could impact the company's future operations and financial position.

Quarterly Financial Results

The Board of Directors of Hemisphere Properties India Limited approved the unaudited standalone financial results for the quarter ended September 30. The meeting, which commenced at 3:00 PM and concluded at 4:30 PM on August 14, saw the board taking on record these financial statements.

Preference Share Allotment

In a significant move to bolster its capital structure, HPIL has allotted 7.5 crore cumulative redeemable preference shares to its promoter. The details of this allotment are as follows:

This private placement to the promoter indicates continued government support for the company's operations and future plans.

Land Sale Approval

A significant development for HPIL's asset portfolio came with the approval for the sale of the Bopkhel land parcel:

This approval may potentially unlock value from the company's land assets and improve its inventory position on the balance sheet.

Auditor's Observations

The company's auditors, M/s Aggarwal & Rampal, Chartered Accountants, have issued a Limited Review Report with some key observations:

1. Non-compliance with regulations regarding the appointment of independent directors.
2. A provision of ₹651.00 crore for stamp duty payable for land registration across states, based on 2016-17 circle rates.
3. Non-recognition of property tax/urban land tax liability for a 53.04-acre land parcel in Chennai.

These observations highlight areas where the company may need to take corrective actions to ensure full regulatory compliance and accurate financial reporting.

Conclusion

The recent developments at Hemisphere Properties India Limited, including the approval of quarterly results, preference share allotment, and land sale approval, demonstrate the company's active management of its capital structure and asset portfolio. However, the auditor's observations regarding regulatory compliance and potential tax liabilities suggest areas that may require management's attention.

Investors and stakeholders may want to closely monitor how HPIL addresses these issues and leverages its recent approvals to drive growth and value creation.

Hemisphere Properties India Ltd (HPIL), a government enterprise, has announced plans to conduct an e-auction for a land parcel in Pune, Maharashtra. The auction is scheduled to take place from October 1 to October 3, 2025, following approval from the Pune Collector.

Auction Details

The e-auction is being conducted pursuant to a Request for Proposal (RFP) dated December 13, 2024. HPIL has secured the necessary approvals from competent authorities, including the Collector of Pune, Maharashtra, for the sale of the land parcel.

Financial Aspects

A significant development in this process was the company's payment of ₹130.56 crore to obtain the Pune Collector's approval. This payment was a prerequisite for the auction to proceed, demonstrating HPIL's commitment to the sale.

Regulatory Compliance

In line with regulatory requirements, HPIL has informed the stock exchanges about this development. The company submitted additional information on September 30, 2025, following an earlier intimation dated September 27, 2025.

Company Background

Hemisphere Properties India Ltd, with its registered office in New Delhi, is a government enterprise.

Market Implications

This e-auction represents a significant move for HPIL, potentially impacting its asset portfolio and financial position. Investors and market watchers will likely keep a close eye on the outcome of this auction, as it could influence the company's future performance.

The successful completion of this e-auction could provide HPIL with substantial funds, which may be used for various corporate purposes or to strengthen the company's financial position.

As the e-auction approaches, more details are expected to emerge regarding the specifics of the land parcel and the terms of the sale. Interested parties and stakeholders are advised to monitor HPIL's official communications for further updates on this significant transaction.