Simplex Realty Limited faced a challenging Q1 with revenue from operations dropping to ₹250.16 lakhs, a 47.8% year-on-year decrease. The company reported a net loss of ₹112.73 lakhs, compared to a profit of ₹96.69 lakhs in the same quarter last year. On a consolidated basis, the company posted a loss of ₹113.83 lakhs. The Board approved a supplementary agreement with its subsidiary for project assignment. Auditors raised concerns about two associate companies with eroded net worth, though management maintains a going concern basis for their financials.
25Jul 25
Simplex Realty Restructures Subsidiary Ownership in Strategic Move with Modern India Limited
Simplex Realty has signed a Shareholders Agreement with Modern India Limited, involving the divestment of 4,900 equity shares in its subsidiary, Simplex Modern Homes Private Limited. The company will also invest in preference shares of the subsidiary. This restructuring changes the subsidiary's status from wholly-owned to a regular subsidiary. Both Simplex Realty and Modern India Limited will have equal board representation in the subsidiary. The transaction is classified as a related party transaction and complies with SEBI regulations.