The Delhi High Court has disposed of two legal cases involving Tata Communications and DLF regarding a land dispute in Greater Kailash. This development represents a significant milestone in the ongoing legal proceedings that have been under judicial consideration.

Case Details and Parties Involved

The legal cases involve major corporate entities Tata Communications and DLF, both prominent players in their respective sectors. The dispute centers around land in Greater Kailash, a prime location in Delhi known for its commercial and residential significance.

Court Proceedings and Timeline

The Delhi High Court's decision to dispose of the two cases indicates that the preliminary legal proceedings have been completed. The court has established a clear timeline for resolution by scheduling the final ruling for January 23, 2026.

Significance of the Development

The disposal of these cases by the Delhi High Court represents an important procedural step in the legal process. With the final ruling scheduled for early 2026, all parties involved now have a definitive timeline for the resolution of this land dispute. The outcome of this case may have implications for property rights and commercial interests in the Greater Kailash area.

Hemisphere Properties India Limited announced its unaudited financial results for the third quarter of fiscal year 2026, revealing a widened net loss despite modest revenue growth. The Government of India enterprise reported these results following a Board meeting held on January 28, 2026.

Financial Performance Overview

The company's financial performance for Q3FY26 showed mixed results with revenue growth offset by increased losses:

Nine-Month Performance Analysis

For the nine-month period ended December 31, 2025, Hemisphere Properties reported deteriorating financial metrics:

Expense Structure and Cost Pressures

The company faced significant cost pressures across multiple expense categories during Q3FY26. Finance costs increased substantially to ₹216.06 crores from ₹158.00 crores in the previous year quarter. Other expenses remained elevated at ₹252.74 crores compared to ₹243.47 crores year-on-year. Employee benefit expenses decreased to ₹8.97 crores from ₹11.88 crores in Q3FY25.

Auditor Observations and Compliance Issues

Aggarwal & Rampal, the company's statutory auditors, issued a limited review report highlighting several compliance and accounting matters:

• Governance Compliance: The company has not complied with provisions of Section 149 of the Companies Act regarding appointment of Independent Directors • Stamp Duty Provision: Outstanding liability of ₹63,980.21 crores for stamp duty on land parcels remains unreviewed since FY2017 • Property Tax: Non-recognition of property tax liability for 53.04 acres Chennai land parcel pending demand assessment

Recent Developments

During Q3FY26, Hemisphere Properties received ₹49.64 crores from Tata Communications Limited against a trade receivable for which loss allowance had been previously recognized. This recovery was adjusted against impairment loss and recognized as a reversal in the profit and loss statement.

The company conducted an e-auction for land parcels at village Bopkhel, Pune from October 1-3, 2025, but received no bids. Management is consulting on conducting the next round of bidding for monetization of these assets.

Board Meeting Details

The Board of Directors meeting commenced at 3:15 PM and concluded at 4:40 PM on January 28, 2026. The unaudited standalone financial results were approved and taken on record, with the Audit Committee having previously reviewed and recommended these results. The financial statements comply with Indian Accounting Standards prescribed under Section 133 of the Companies Act, 2013.