Housing development and infra has released its standalone unaudited financial results for the quarter and half-year ended September 30, 2025, under the ongoing Corporate Insolvency Resolution Process (CIRP). The company reported a significant net loss of ₹489.74 crores for the half-year period, reflecting the continued financial distress since entering insolvency proceedings.

Financial Performance Overview

The company's financial performance for H1 FY26 shows a substantial decline across key metrics compared to the previous year:

The company's revenue from operations dropped dramatically to ₹82.01 crores for the half-year from ₹1,914.35 crores in the corresponding period of the previous year. Other income also declined to ₹76.36 crores from ₹114.61 crores year-on-year.

Quarterly Results Analysis

For the quarter ended September 30, 2025, the company reported:

Corporate Insolvency Resolution Process Status

Housing Development and Infrastructure Limited has been under CIRP since August 20, 2019, following an order from the National Company Law Tribunal (NCLT), Mumbai Bench. Mr. Abhay Narayan Manudhane serves as the Resolution Professional, managing the company's affairs after the powers of the Board of Directors were suspended.

The Committee of Creditors has approved resolution plans for several verticals, with the NCLT approving plans for Vertical V - BKC Inspire and Vertical IX - Shahad Maharaj land on June 27, 2025. However, erstwhile promoters have filed appeals against these orders before the National Company Law Appellate Tribunal (NCLAT), New Delhi.

Operational Challenges and Disclaimers

The Resolution Professional faces significant operational difficulties in compiling financial results due to:

• Exodus of critical employees from finance, accounts, banking, and secretarial departments
• Non-cooperation from key officials and management personnel
• Ongoing investigations by multiple government authorities including ED, EOW, SFIO, and CBI
• Inability to prepare consolidated financial statements due to lack of data from five subsidiaries

The auditors have issued a disclaimer of conclusion, citing insufficient evidence to form an opinion on the financial statements' compliance with Indian Accounting Standards.

Balance Sheet Position

As of September 30, 2025, the company's financial position shows:

The company maintains a paid-up equity share capital of ₹47,400.40 lakhs with a face value of ₹10 per share, while accumulated losses have resulted in a significant deficit in other equity reserves.

Going Concern Uncertainty

The auditors have highlighted material uncertainty regarding the company's ability to continue as a going concern. The company's future depends on the successful completion of the CIRP, approval of resolution plans by creditors, and final approval from the NCLT. The appropriateness of preparing results on a going concern basis remains critically dependent upon the completion of the insolvency resolution process as specified under the Insolvency and Bankruptcy Code, 2016.

Housing development and infra has announced that its board of directors will convene on January 13, 2026, at 2:30 PM to consider and confirm the company's standalone unaudited financial results. The meeting will address financial performance for two specific periods: the quarter ended June 30, 2025 (Q1FY26) and the quarter and half-year ended September 30, 2025 (Q2FY26).

Corporate Insolvency Resolution Process Status

The company continues to operate under Corporate Insolvency Resolution Process (CIRP), which commenced following an order from the National Company Law Tribunal, Mumbai Bench dated August 20, 2019. Under the provisions of the Insolvency and Bankruptcy Code, 2016, the powers of the Board of Directors and responsibility for managing the company's affairs have been transferred to Resolution Professional Abhay Narayan Manudhane.

Financial Results Under Consideration

The upcoming board meeting will focus on reviewing and confirming financial results for two distinct reporting periods within FY 2025-26. The company will present standalone unaudited financial results covering both quarterly and half-yearly performance metrics.

Regulatory Compliance

The board meeting announcement fulfills the company's obligations under Regulation 29(1) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. This regulation mandates listed companies to inform stock exchanges about board meetings scheduled to consider financial results.

The notification was formally communicated to both the National Stock Exchange of India Limited and BSE Limited on January 6, 2026. Housing Development and Infrastructure Limited trades under the symbol HDIL on NSE and script code 532873 on BSE.

Resolution Professional Authority

Under the current CIRP framework, Resolution Professional Abhay Narayan Manudhane holds the authority to manage the company's operations and decision-making processes. His IBBI registration number IBBI/IPA-001/IP-P00054/2017-2018/10128 validates his appointment to oversee the insolvency resolution proceedings and ensure continued compliance with regulatory requirements.