Hemisphere Properties India Limited announced its unaudited financial results for the third quarter of fiscal year 2026, revealing a widened net loss despite modest revenue growth. The Government of India enterprise reported these results following a Board meeting held on January 28, 2026.

Financial Performance Overview

The company's financial performance for Q3FY26 showed mixed results with revenue growth offset by increased losses:

Nine-Month Performance Analysis

For the nine-month period ended December 31, 2025, Hemisphere Properties reported deteriorating financial metrics:

Expense Structure and Cost Pressures

The company faced significant cost pressures across multiple expense categories during Q3FY26. Finance costs increased substantially to ₹216.06 crores from ₹158.00 crores in the previous year quarter. Other expenses remained elevated at ₹252.74 crores compared to ₹243.47 crores year-on-year. Employee benefit expenses decreased to ₹8.97 crores from ₹11.88 crores in Q3FY25.

Auditor Observations and Compliance Issues

Aggarwal & Rampal, the company's statutory auditors, issued a limited review report highlighting several compliance and accounting matters:

• Governance Compliance: The company has not complied with provisions of Section 149 of the Companies Act regarding appointment of Independent Directors • Stamp Duty Provision: Outstanding liability of ₹63,980.21 crores for stamp duty on land parcels remains unreviewed since FY2017 • Property Tax: Non-recognition of property tax liability for 53.04 acres Chennai land parcel pending demand assessment

Recent Developments

During Q3FY26, Hemisphere Properties received ₹49.64 crores from Tata Communications Limited against a trade receivable for which loss allowance had been previously recognized. This recovery was adjusted against impairment loss and recognized as a reversal in the profit and loss statement.

The company conducted an e-auction for land parcels at village Bopkhel, Pune from October 1-3, 2025, but received no bids. Management is consulting on conducting the next round of bidding for monetization of these assets.

Board Meeting Details

The Board of Directors meeting commenced at 3:15 PM and concluded at 4:40 PM on January 28, 2026. The unaudited standalone financial results were approved and taken on record, with the Audit Committee having previously reviewed and recommended these results. The financial statements comply with Indian Accounting Standards prescribed under Section 133 of the Companies Act, 2013.

Hemisphere Properties India Limited has issued a clarification to stock exchanges regarding unusual volume activity in its shares, confirming that no material information is pending disclosure. The company responded to an inquiry from stock exchanges dated December 26, 2025, seeking clarification on factors that may have influenced the price or volume behavior of the company's scrip.

Company's Response to Exchange Inquiry

The real estate company categorically stated that there is no pending information or announcement required to be disclosed to stock exchanges as per the materiality policy framed under Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015. The company emphasized its commitment to maintaining transparency with regulatory authorities.

Compliance and Disclosure Standards

Hemisphere Properties India Limited reaffirmed its adherence to regulatory compliance standards, stating that the company has consistently made timely and appropriate disclosures under Regulation 30 of the Listing Regulations. The management confirmed that all material events and announcements requiring public disclosure have been duly communicated to the market.

Market Movement Attribution

The company attributed the recent price and volume movements in its securities to market-driven factors rather than any undisclosed price-sensitive information. This clarification aims to address concerns about potential information asymmetry that could have influenced trading activity. The management emphasized that no material information, event, or announcement requiring disclosure under SEBI regulations has been withheld from public disclosure.

Corporate Structure and Communication

As a Government of India enterprise, Hemisphere Properties India Limited operates under the regulatory oversight applicable to public sector undertakings. The clarification was signed by Lubna, Company Secretary and Compliance Officer, and was digitally authenticated on December 29, 2025. The company maintains its registered office at Sankalp Bhawan, New Delhi, and operates under CIN L70101DL2005GOI132162.