Tulive Developers Limited, a real estate company, has released its unaudited financial results for the half-year ended September 30, 2025, revealing a net loss and a substantial decrease in cash reserves.

Financial Performance

The company's board of directors approved the unaudited financial results in a meeting held on November 14, 2025. The key financial highlights for the half-year period are as follows:

The financial results show a reduction in net loss compared to the same period in the previous year. However, the company experienced a significant decline in its cash and cash equivalents, dropping by 97.52% from ₹307.88 lakhs to ₹7.64 lakhs. Total assets also saw a marginal decrease of 1.00%.

Corporate Developments

In addition to the financial results, Tulive Developers Limited disclosed information about a potential delisting of its equity shares. The company has appointed S.A.E. & Associates LLP to carry out due diligence in accordance with the Securities and Exchange Board of India (Delisting of Equity Shares) Regulations, 2021.

This appointment follows an initial public announcement made on November 10, 2025, where Altis Properties Private Limited and GKS Technology Park Private Limited, along with certain persons acting in concert, expressed their intention to voluntarily delist the equity shares of Tulive Developers Limited.

The company stated that the appointed firm, S.A.E. & Associates LLP, holds a peer-reviewed certificate valid until November 30, 2027, and is currently serving as the Secretarial Auditor of the company.

Conclusion

While Tulive Developers Limited has managed to reduce its net loss compared to the previous year, the substantial decrease in cash reserves and the ongoing delisting process may raise concerns among investors. Stakeholders should closely follow the company's future announcements and the outcome of the due diligence process related to the potential delisting.

Tulive Developers Limited has announced its intention to voluntarily delist from the BSE Limited, as per a recent disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Delisting Proposal Details

The delisting proposal has been initiated by Altis Properties Private Limited ("Acquirer 1") and GKS Technology Park Private Limited ("Acquirer 2"), collectively referred to as "Acquirers". They are acting in concert with Atul Gupta and K V Ramana Shetty, who are part of the promoter group.

Key Aspects of the Delisting Offer

Objectives of the Delisting

The delisting aims to:

1. Provide full ownership to acquirers and promoters
2. Increase financial flexibility
3. Reduce compliance costs
4. Offer public shareholders an exit opportunity

Pricing and Approval Process

• The floor price will be determined through a reverse book building process
• The proposal requires:
  • Board approval
  • Special resolution by shareholders
  • Stock exchange approval

Next Steps

Shareholders and potential investors should note that this announcement is an initial step in the delisting process. The company will need to follow the regulatory procedures outlined by SEBI, including obtaining necessary approvals before the delisting can be finalized.

Investors are advised to keep a close watch on further announcements from Tulive Developers regarding the progress of this delisting proposal, including details on the reverse book building process and the final offer price.

Disclosure

This article is based on the Initial Public Announcement dated November 10, 2025, made by Saffron Capital Advisors Private Limited, acting as the Manager to the Offer. The information provided is subject to further updates and changes as the delisting process progresses.