Gayatri Projects Limited has delivered exceptional financial performance in Q3 FY26, marking a significant turnaround from previous periods. The infrastructure construction company reported consolidated net profit of ₹2,15,708.49 lakhs for the quarter ended December 31, 2025, compared to a net loss of ₹197.03 lakhs in the corresponding quarter of the previous year.

Financial Performance Overview

The company's operational metrics showed substantial improvement across key parameters:

For the nine-month period ended December 31, 2025, the consolidated performance demonstrated consistent strength:

Debt Settlement and Exceptional Items

The company's exceptional performance was primarily driven by the successful resolution of its debt restructuring process. During the current financial year, the Committee of Creditors, comprising lenders holding 97.21% of the voting share, approved the company's one-time full and final debt settlement proposal.

Key highlights of the debt settlement include:

• NCLT Approval: The National Company Law Tribunal, Hyderabad approved the withdrawal of the Corporate Insolvency Resolution Process on September 10, 2025
• Fund-based Settlement: Promoters proposed ₹750.00 crores as fund-based offer
• Non-fund Based Guarantees: Continuing guarantee of ₹1,229.00 crores on non-fund-based limits
• Exceptional Gain: The settlement resulted in exceptional items of ₹2,12,845.31 lakhs

The difference between outstanding dues to lenders and the actual settlement amount of ₹2,38,400.10 lakhs has been recognized as an exceptional item in the financial statements.

Operational Expenses and Cost Management

The company's expense structure for Q3 FY26 showed effective cost management:

Investment Portfolio and Asset Management

The company maintains strategic investments including ₹19,571.95 lakhs in Gayatri Hi-tech Hotels Limited through 4% Compulsorily Convertible Cumulative Preferential Shares, convertible during financial year 2027-28. Management has assessed that no provision for impairment is required based on improved business operations of the investee company.

Regarding its associate company Gayatri Highways Limited, the company wrote off ₹13,411.00 lakhs against subordinate debt during the current quarter, related to terminated road projects under liquidation proceedings.

Standalone Financial Performance

The standalone financial results mirrored the consolidated performance with net profit of ₹2,16,677.04 lakhs in Q3 FY26 compared to a loss of ₹201.97 lakhs in Q3 FY25. Standalone earnings per share improved to ₹115.75 from ₹(0.11) in the corresponding previous quarter.

Corporate Governance and Compliance

The unaudited financial results were reviewed by the Audit Committee and approved by the Board of Directors in their meeting held on February 14, 2026. The results have been prepared in accordance with Indian Accounting Standards and applicable regulations under the Companies Act, 2013.

Gayatri Projects Limited has provided clarification to BSE Limited regarding the delayed submission of financial results covering four quarters, following the company's recent exit from Corporate Insolvency Resolution Process (CIRP). The explanation comes in response to exchange queries dated December 29, 2025, concerning compliance delays.

CIRP Background and Timeline

The company was admitted to CIRP on November 15, 2022, and remained under the process until September 10, 2025. During this period, Gayatri Projects experienced lapses in compliances with various regulations due to the insolvency proceedings. Following the withdrawal from CIRP in September 2025, a new board of directors was constituted to oversee the company's operations and regulatory compliance.

Board Meeting and Financial Results Approval

On December 24, 2025, the newly constituted board conducted a comprehensive meeting to address pending compliance requirements. The meeting commenced at 10:00 AM and concluded at 12:00 noon, during which directors approved four quarters of unaudited and audited standalone and consolidated financial results in a single session.

Compliance Submission Process

The company submitted the consolidated outcome of the board meeting within seven minutes of the meeting's conclusion. Subsequently, quarter-wise financial results were filed in phases throughout the afternoon. The submissions covered the complete financial year 2023-24, including quarterly, half-yearly, and annual results that had been pending during the CIRP period.

Reasons for Delay

Gayatri Projects attributed the submission delays to technical challenges encountered while filing results simultaneously with both BSE and NSE. The company specifically cited slow internet connectivity on December 24, 2025, as a contributing factor to the delayed filings. Company Secretary and Compliance Officer Shashank Jain emphasized that the delays were purely unintentional and resulted from the simultaneous submission of four quarters' worth of financial data.

Post-CIRP Compliance Strategy

The company is now implementing a phased approach to address all pending compliances that accumulated during the CIRP period. This systematic method allows the newly constituted board to ensure comprehensive regulatory adherence while managing the substantial backlog of required submissions. The December 24 board meeting represents a significant step in the company's efforts to restore full compliance with listing regulations.