Shree Salasar Investments Reports Q1 Results, Subsidiaries Contribute Significantly

Shree Salasar Investment has announced its unaudited financial results for the first quarter. The company's Board of Directors approved both standalone and consolidated financial statements at a meeting held on August 13.

Key Highlights

• The board meeting commenced at 1:00 PM and concluded at 2:00 PM.
• Consolidated results include three subsidiaries: Vinca Realtors Pvt Ltd, Marine Drive Realtors Pvt Ltd, and Hariyana Developers.
• The three subsidiaries collectively reported a total revenue of Rs. 19.97 crore and a net profit of Rs. 2.47 crore for the quarter.
• Satya Prakash Natani & Co., Chartered Accountants, conducted a limited review and found no material misstatements.

Subsidiary Performance

The consolidated unaudited financial results include the interim financial statements of three subsidiaries, which have not been reviewed by their respective auditors. These subsidiaries have made a significant contribution to the group's overall performance:

Audit Review

Satya Prakash Natani & Co., Chartered Accountants, conducted a limited review of the financial statements. The review was performed in accordance with the Standard on Review Engagements (SRE) 2410, "Review of Interim Financial Information Performed by the Independent Auditor of the Entity," issued by the Institute of Chartered Accountants of India.

The auditors stated that based on their review, nothing has come to their attention that causes them to believe that the accompanying statement of unaudited financial results fails to disclose the information required under Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Regulatory Compliance

The company has prepared its financial statements in accordance with the Indian Accounting Standard 34 "Interim Financial Reporting" (Ind AS 34) and other accounting principles generally accepted in India. The results will be published in newspapers as required under Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Shree Salasar Investments continues to fulfill its regulatory obligations by providing timely and transparent financial disclosures to its stakeholders and the market at large.