Ansal Buildwell Limited , a prominent player in the real estate and construction sector, has released its financial results for the first quarter. The company faced significant challenges, reporting a substantial decline in both revenue and profit compared to the same period last year.

Revenue and Profit Performance

Ansal Buildwell's standalone revenue from operations stood at Rs 977.74 lakhs, marking a sharp 49% decrease from Rs 1,924.30 lakhs reported in the corresponding quarter of the previous year. The company's standalone profit for the period also saw a substantial drop, coming in at Rs 124.49 lakhs, down 77% from Rs 545.41 lakhs in the same quarter last year.

On a consolidated basis, the company's performance mirrored the standalone results. The profit for the period was Rs 128.65 lakhs, representing a significant 83% decline from Rs 778.32 lakhs in the corresponding quarter of the previous year.

Financial Highlights

Operational Insights

The company's primary focus remains on real estate development and construction business. However, the significant decline in revenue and profit suggests challenging market conditions or project delays in the quarter.

Subsidiary Under Insolvency Process

Ansal Buildwell disclosed that its wholly-owned subsidiary, Ansal Crown Infrabuild Private Limited, is currently undergoing Corporate Insolvency Resolution Process (CIRP). The National Company Law Tribunal (NCLT) admitted an application under section 9 of the Insolvency and Bankruptcy Code (IBC) 2016 against Ansal Crown Infrabuild on April 21, 2023.

The parent company has invested Rs 34.01 crores in equity shares and provided Rs 24.89 crores in business advances to this subsidiary. The ongoing insolvency proceedings could potentially impact the consolidated financial position of Ansal Buildwell in the coming quarters.

Other Financial Matters

The company reported a provision of Rs 482.12 lakhs for interest on principal refund amount payable to customers related to its Jaipur project. This provision might be indicative of project-related challenges or customer refund obligations.

Conclusion

Ansal Buildwell's quarterly results reflect a challenging period for the company, with significant declines in both revenue and profitability. The ongoing insolvency proceedings of its subsidiary and provisions for customer refunds add to the company's financial pressures. Stakeholders will be keenly watching how Ansal Buildwell navigates these challenges in the upcoming quarters.

Ansal Buildwell Limited has announced significant changes to its auditing team for the upcoming financial years. The company's Board of Directors, in a meeting held on May 29, 2025, approved the appointment of new auditors across various domains, signaling a commitment to maintaining robust financial oversight and compliance.

Secretarial Auditor Appointment

The Board has appointed M/s. Mahesh Gupta & Co. as the Secretarial Auditors for a five-year term, spanning from the financial year 2025-26 to 2029-30. This appointment is subject to shareholder approval at the upcoming Annual General Meeting.

Mr. Mahesh Kumar Gupta, the proprietor of the firm, brings over 32 years of experience to the role. As a fellow member of the Institute of Company Secretaries of India (ICSI), Mr. Gupta has built a strong reputation for integrity and professional excellence. His expertise was recognized by the ICSI with a Certificate of Appreciation in 2021.

Cost Auditor Appointment

For the financial year 2025-26, the Board has appointed Mr. Gaurav Kumar & Co. as the Cost Auditors. The firm, led by Mr. Gaurav Kumar, has extensive experience in cost compliance and cost auditing across various industries, including real estate. The firm's registration number is 101428, with Mr. Kumar holding membership number 31731.

Internal Auditor Appointment

M/s. Shailender K. Bajaj & Co., Chartered Accountants, have been appointed as the Internal Auditors for the financial year 2025-26. This Delhi-based proprietorship firm brings three decades of experience in providing a comprehensive range of professional services across India.

Conclusion

These appointments reflect Ansal Buildwell's commitment to maintaining high standards of financial reporting and corporate governance. The diverse expertise of the newly appointed auditors is expected to contribute to the company's financial transparency and compliance efforts in the coming years.

Shareholders and investors can expect these changes to take effect from the start of the 2025-26 financial year, pending necessary approvals. The company's proactive approach in securing long-term auditing partnerships, particularly in the case of the Secretarial Auditor, suggests a focus on consistency and depth in its financial oversight processes.