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 successfully obtained shareholder approval for its voluntary delisting from BSE Limited through postal ballot, with the scrutinizer's report confirming overwhelming support for the proposal.

Postal Ballot Results

The postal ballot conducted from December 2-31, 2025, resulted in decisive approval for the delisting proposal. The voting results demonstrate strong shareholder confidence in the company's strategic direction.

Regulatory Compliance Achievement

The postal ballot results satisfy the stringent requirements under SEBI (Delisting of Equity Shares) Regulations, 2021. According to Regulation 11(4), the special resolution requires votes cast by public shareholders in favor to be at least two times the number of votes cast against it.

Delisting Framework Details

The approved delisting proposal maintains the previously announced parameters, with the company set to acquire public shareholding through the established framework.

Scrutinizer Certification

Sri Vidhya Kumar, the appointed scrutinizer and Practicing Company Secretary, certified the postal ballot process conducted through Central Depository Services (India) Limited (CDSL) platform. The scrutinizer confirmed that the voting process was conducted in a fair and transparent manner, with proper reconciliation of votes cast through remote e-voting.

Next Steps in Delisting Process

With shareholder approval secured, Tulive Developers will proceed with the subsequent stages of the voluntary delisting process as per SEBI regulations. The company's promoter group entities - Altis Properties Private Limited and GKS Technology Park Private Limited - will facilitate the acquisition of public shareholding.

The successful postal ballot outcome represents a significant milestone in the company's strategic transition, providing the regulatory foundation for completing the voluntary delisting from BSE Limited.