Satchmo Holdings Secures Rs 109 Crore Debt Settlement Approval from Asset Reconstruction Company Aug 05, 2025
More news about Satchmo Holdings
25Jul 25
Satchmo Holdings Reports Rs 261 Lakh Loss in Q1, Exits Real Estate Projects
Satchmo Holdings Limited reported a consolidated net loss of Rs 261.00 lakhs for Q1 FY24, compared to a profit of Rs 2,935.00 lakhs in Q1 FY23. Revenue from operations declined to Rs 13.00 lakhs from Rs 183.00 lakhs year-on-year. The company is exiting residential real estate projects, focusing on service business segments. It's negotiating debt restructuring with JC Flowers ARC and HDFC Limited. JC Flowers ARC has initiated insolvency proceedings against Satchmo Holdings for dues of Rs 38,595.00 lakhs, with the NCLT hearing scheduled for July 24. Auditors have raised concerns about the company's ability to continue as a going concern.