Housing development and infra has announced that its board of directors will convene on March 13, 2026, to consider and confirm the company's standalone unaudited financial results for the quarter and nine months ended December 31, 2025, of FY 2025-26. The meeting is scheduled to commence at 02:30 PM on Friday.

Corporate Insolvency Resolution Process Status

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

Resolution Professional Details

Mr. Abhay Narayan Manudhane is serving as the Resolution Professional for Housing Development and Infrastructure Limited. His appointment stems from the CIRP order, and he holds the responsibility for managing the company's affairs during this process. The Resolution Professional operates under the regulatory framework established by the Insolvency and Bankruptcy Code, 2016.

Regulatory Compliance

The announcement has been made in accordance with Regulation 29(1) of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. This regulation mandates companies to inform stock exchanges about board meetings where financial results will be considered. The notification was sent to both the National Stock Exchange of India Limited and BSE Limited on March 5, 2026.

Key Meeting Agenda

The primary agenda for the March 13, 2026 board meeting includes:

• Consideration of standalone unaudited financial results for Q3 FY26
• Review of nine months performance ended December 31, 2025
• Confirmation of the financial statements for FY 2025-26

The financial results to be discussed will cover the company's performance during the third quarter of the current financial year, providing stakeholders with insights into the company's operational and financial status during the ongoing insolvency resolution process.

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.