Radhe Developers (India) Limited announced its unaudited financial results for the quarter ended December 31, 2025, demonstrating a mixed performance with quarterly losses but strong nine-month profitability. The company's Board of Directors approved these results during their meeting held on January 30, 2026.

Financial Performance Overview

The company's quarterly performance showed challenges with revenue from operations declining significantly to ₹8.24 lakhs in Q3FY26 from ₹248.83 lakhs in the previous quarter. When compared to the same quarter last year, there was an improvement as Q3FY25 recorded zero revenue from operations.

Nine-Month Performance Highlights

Despite quarterly challenges, Radhe Developers achieved remarkable performance over the nine-month period ended December 31, 2025. The company recorded revenue from operations of ₹871.89 lakhs compared to ₹347.00 lakhs in the corresponding period last year, representing a substantial increase of 151.26%.

Expense Analysis

The company's total expenses for Q3FY26 stood at ₹164.19 lakhs compared to ₹131.95 lakhs in Q3FY25. Key expense components included employee benefits expenses of ₹32.86 lakhs, finance costs of ₹21.03 lakhs, and depreciation and amortisation expenses of ₹24.74 lakhs. Notably, construction expenses were nil in the current quarter compared to ₹41.66 lakhs in the same quarter last year.

Earnings Per Share and Capital Structure

The company maintained its paid-up equity share capital at ₹5,237.42 lakhs with a face value of ₹1 per share. Basic earnings per share for Q3FY26 was (₹0.03) compared to (₹0.03) in Q3FY25. However, for the nine-month period, basic EPS improved to ₹0.05 from (₹0.02) in the previous year.

Regulatory Compliance and Audit

The financial results were reviewed by the Audit Committee and approved by the Board of Directors. The results have been prepared in accordance with Companies (Indian Accounting Standard) Rule, 2015 and Regulation 33 of SEBI (LODR) Regulations, 2015. The limited review was conducted by S Parth & Co, Chartered Accountants, who noted that no provision was made for gratuity in the quarterly results, which is not in accordance with IND AS 19.

Business Segment

In line with Ind AS - 108 Operating Segments, the company's operations fall under the Construction business, which is considered the only reportable segment by the management. The company operates primarily in the real estate development sector with its registered office located at Radhe Acres, Shela, Ahmedabad, Gujarat.

Radhe developers (India) Limited has secured in-principle approval from BSE Limited for a significant preferential issue of equity shares to its promoters. The approval, dated January 27, 2026, marks an important step in the company's capital restructuring initiative involving conversion of unsecured loans into equity.

Issue Details and Structure

The BSE approval covers the issuance of 2,51,39,620 equity shares with specific pricing and conversion parameters:

The preferential issue involves conversion of existing unsecured loans into equity shares, providing the company with an opportunity to strengthen its capital structure while reducing debt obligations.

Regulatory Framework and Compliance

The approval has been granted under Regulation 28(1) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and follows the provisions of Chapter V of SEBI (ICDR) Regulations, 2018. BSE has emphasized that this in-principle approval should not be construed as approval for listing of the securities, which requires separate compliance procedures.

The company must ensure strict adherence to multiple regulatory frameworks including:

• Companies Act, 2013
• Securities Contracts (Regulation) Act, 1956
• SEBI Act, 1992
• Depositories Act, 1996
• SEBI (ICDR) Regulations, 2018
• SEBI (LODR) Regulations, 2015

Key Conditions and Requirements

BSE has outlined specific conditions that Radhe Developers must fulfill before proceeding with the allotment. The exchange has advised the company to strengthen internal controls to monitor trades executed by proposed allottees in the company's scrip to avoid non-compliances.

Critical requirements include:

• Obtaining undertakings from allottees confirming no intra-day trading in company scrip until allotment date
• Verification of compliance with Regulation 167(6) of SEBI ICDR regulations, 2018
• Making listing application within twenty days from allotment date as per Schedule XIX of ICDR Regulations

Post-Allotment Obligations

Upon completion of the allotment, the company must submit a listing application without delay, along with applicable fees, in terms of Regulation 14 of the LODR Regulations. The company must also comply with post-issue formalities as specified by BSE.

Non-compliance with the twenty-day listing application requirement will attract penalties as mentioned in SEBI circular no. SEBI/HO/CFD/PoD-2/P/CIR/2023/00094 dated June 21, 2023. BSE reserves the right to withdraw the in-principle approval if any information is found to be incomplete, incorrect, misleading, or in contravention of applicable regulations.

Company Information

Radhe Developers (India) Limited, incorporated in 1995 with CIN L45201GJ1995PLC024491, operates from its registered office at Radhe Acres, Shela, Ahmedabad, Gujarat. The company trades on BSE under script code 531273 and script ID RADHEDE. The approval notification was signed by Company Secretary and Compliance Officer Khyati Patel on January 28, 2026.