Rap Media (formerly known as RAP Media Limited) has successfully concluded the sale of its immovable property in Agra, Uttar Pradesh, netting Rs. 62.12 crore in proceeds. The company made this announcement in a recent update to the Bombay Stock Exchange (BSE).

Transaction Details

The property, located at Plot No. 3C, Tajnagari Yojana Phase-1, Agra, Uttar Pradesh, was sold for a total consideration of Rs. 67.83 crore. However, the net proceeds were lower due to associated costs:

The company bore the stamp duty and registration charges, which amounted to Rs. 5.71 crore, resulting in the final net proceeds of Rs. 62.12 crore.

Previous Disclosure

This update follows the company's earlier disclosure dated July 31, where Rap Corp Limited had initially announced the property sale. The latest communication provides a detailed breakdown of the consideration amount, clarifying the final figures of the transaction.

Regulatory Compliance

The company made this disclosure in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. This regulation requires listed entities to inform the stock exchanges about material events that may have an impact on the company's operations and stock price.

Rap Corp Limited continues to keep its shareholders and the market informed about significant corporate actions, maintaining transparency in its operations.

The sale of this property could potentially impact the company's asset portfolio and financial position. Investors and stakeholders may want to consider this development in their assessment of the company's overall financial health and strategic direction.

Rap Media , formerly known as RAP MEDIA LIMITED, has released its unaudited financial results for the quarter ended June 30, 2025, revealing a shift from profit to loss compared to the previous quarter. The company, primarily engaged in real estate operations, also announced the sale of its Agra property and set the date for its 31st Annual General Meeting.

Financial Performance

The company reported a standalone loss of Rs 29.75 lakh for the quarter, a significant downturn from the profit of Rs 32.81 lakh recorded in the previous quarter. This decline in performance is reflected in the company's other income, which dropped to Rs 0.49 lakh from Rs 30.17 lakh in the prior quarter.

Operational Highlights

During the quarter, Rap Media made significant investments in its Agra property:

1. The company paid Rs 1.24 crore towards sales tax for increased ground coverage, as per requirements of the Agra Development Authority.
2. An additional Rs 25 lakh was paid to obtain an electricity connection for the property.

These expenses were recorded under Changes in Inventory and Other Expenses in the financial statement.

Property Sale

In a notable development, the company announced that it has sold the Agra property subsequent to the quarter's end. The financial impact of this sale will likely be reflected in the next quarter's results.

Annual General Meeting

The Board of Directors has scheduled the 31st Annual General Meeting (AGM) for September 30, 2025, at 11:00 AM. The meeting will be held via video conferencing or other audio-visual means.

Consolidated Results

The consolidated financial results, which include the performance of White River Properties LLP, show a slightly higher loss of Rs 42.55 lakh for the quarter. This indicates that the subsidiary's performance also contributed to the overall loss for the group.

Rap Media's shift from profit to loss in this quarter, coupled with the sale of its Agra property, suggests a period of transition for the company. Investors and stakeholders will likely be keen to understand the company's strategy moving forward, particularly in light of these recent developments in its real estate operations.