Ansal Properties & Infrastructure Limited has officially filed its unaudited standalone financial results for Q1 FY26 with the stock exchanges, demonstrating a remarkable financial turnaround despite operating under Corporate Insolvency Resolution Process (CIRP). The company reported a net profit of ₹13.21 crores, marking a dramatic improvement from the substantial loss of ₹1,433.91 crores recorded in the corresponding quarter of the previous fiscal year.

Regulatory Filing and Compliance

The company submitted its financial results to both NSE and BSE through an official communication dated December 15, 2025. The filing was made pursuant to Regulations 30 and 33 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, along with compliance requirements under the Companies Act, 2013.

Financial Performance Overview

The company's Q1 FY26 results showed mixed performance with revenue declining significantly but achieving profitability through substantial cost reductions. Revenue from operations dropped to ₹12.77 crores from ₹156.07 crores in Q1 FY25, while other income increased to ₹11.05 crores from ₹7.49 crores year-on-year.

Corporate Insolvency Resolution Process Status

The Corporate Insolvency Resolution Process for Ansal Properties & Infrastructure Limited commenced on February 25, 2025, following an order from the National Company Law Tribunal (NCLT), New Delhi Bench. Navneet Kumar Gupta was initially appointed as the Interim Resolution Professional and subsequently confirmed as the Resolution Professional by the Committee of Creditors in their meeting held on April 11, 2025.

The financial results were approved by Shri Pranav Ansal (Suspended Chairman and Whole Time Director) and taken on record by the Resolution Professional. The results are accompanied by a Limited Review Report from statutory auditors MRKS & Associates, Chartered Accountants.

Project-Specific CIRP Proceedings

Two separate project-specific CIRP proceedings are underway under Part-II of IBC 2016:

Auditor's Qualified Opinion and Key Concerns

The statutory auditors issued a qualified review report noting that the company has not recognized interest of ₹7.33 crores for the quarter on loans classified as non-performing assets. The auditors stated that if this interest had been provided, the total comprehensive profit would have been ₹6.04 crores instead of the reported ₹13.36 crores.

The company continues to face significant financial challenges with accumulated losses of ₹3,141.49 crores as of June 30, 2025. Current liabilities exceed current assets by ₹2,234.56 crores, indicating severe liquidity constraints.

Consolidated Results Limitation

The company was unable to provide consolidated financial results due to difficulties in obtaining financial statements and relevant data from subsidiaries and other entities. The Resolution Professional noted that these entities are separate legal entities, making data collection challenging under the current CIRP framework.

The financial results reflect the company's position during the initial phase of the insolvency resolution process, with the Resolution Professional emphasizing that these results are prepared on a best-effort basis for compliance purposes and may undergo significant changes as the CIRP process progresses.

Ansal Properties & Infrastructure faces a setback as the National Company Law Tribunal (NCLT) has remanded the resolution plan for its Fernhill Project back to the Committee of Creditors (CoC) for reconsideration. This decision comes in light of objections raised by homebuyers and issues related to belated claims.

Key Developments

1. NCLT Decision: The tribunal has directed the CoC to address the concerns raised by homebuyers and resolve issues pertaining to belated claims in the Fernhill Project resolution plan.

2. CoC Meeting: In response to the NCLT's directive, the Resolution Professional convened the 44th meeting of the Committee of Creditors. The meeting agenda included:

   • Discussion of the tribunal's directions
   • Seeking an extension of 60 days for the Corporate Insolvency Resolution Process (CIRP)
   • Ratification of appointments for the Gurugram project

Implications and Next Steps

The remand of the resolution plan by NCLT highlights the complexities involved in the insolvency resolution process, especially for real estate projects where homebuyers are significant stakeholders. The CoC now faces the challenge of addressing these concerns while ensuring a fair and viable resolution for all parties involved.

The request for a 60-day extension of the CIRP period suggests that additional time may be needed to revise the resolution plan and address the issues raised by the NCLT. This extension, if granted, could potentially delay the resolution process but may lead to a more comprehensive and acceptable plan.

The ratification of appointments for a new security agency and consultants for the Gurugram project indicates ongoing efforts to manage and potentially revitalize Ansal Properties' projects during the insolvency process.

As the situation unfolds, stakeholders, including homebuyers and creditors, will be closely watching the CoC's actions and the revised resolution plan that emerges from this process. The outcome of this case could have significant implications for Ansal Properties & Infrastructure's future operations and its ability to complete ongoing projects.