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ANSALAPI - Ansal Properties

📊 NSE: ANSALAPI 🏢 Construction 📅 Last Updated: 12/13/2025 18:21

📢 Recent Corporate Announcements

SC Disposes Appeals; Ansal API CIRP Confined to Lucknow and Rajasthan Projects

🔵 WATCH ⭐ 9/10

LEGAL 📅 18 Apr 2026, 06:29 PM

The Supreme Court has disposed of appeals regarding Ansal API's insolvency, upholding the NCLAT order that limits the Corporate Insolvency Resolution Process (CIRP) to specific projects in Lucknow and Rajasthan. This follows a March 2022 settlement with IL&FS Financial Services. Promoters have pledged full cooperation in the ongoing proceedings to ensure an expeditious resolution under the IBC. Meanwhile, the resolution plan for the Serene Residency project was approved in October 2025, and the Fernhill project CoC meeting is scheduled for April 21, 2026.

Supreme Court disposed of Civil Appeal Nos. 807-808/2026, directing CIRP to proceed expeditiously.
CIRP is restricted to Lucknow and Rajasthan projects as per NCLAT order dated January 7, 2026.
Resolution plan for the Serene Residency project was approved by NCLT on October 6, 2025.
The 51st CoC meeting for the Fernhill Project in Gurgaon is scheduled for April 21, 2026.
Promoters have provided a legal undertaking to the Supreme Court to extend full cooperation in CIRP.

💡 Investors should exercise extreme caution as the company remains under project-wise insolvency proceedings. Monitor the progress of the Lucknow and Rajasthan resolution processes and the outcome of the upcoming Fernhill CoC meeting.

SC Upholds Project-Wise CIRP for Ansal API; Insolvency Confined to Lucknow & Rajasthan Projects

🔵 WATCH ⭐ 9/10

LEGAL 📅 18 Apr 2026, 06:16 PM

The Supreme Court of India has upheld the NCLAT order directing that the Corporate Insolvency Resolution Process (CIRP) for Ansal Properties & Infrastructure be confined to its Lucknow and Rajasthan projects. This project-wise insolvency approach follows a settlement with IL&FS Financial Services and avoids a total company-wide freeze. The court has ordered the CIRP to proceed expeditiously, with promoters pledging full cooperation. Additionally, a resolution plan for the Serene Residency project has already been approved by the NCLT as of October 2025.

Supreme Court order dated April 16, 2026, confirms CIRP is limited to Lucknow and Rajasthan projects.
Promoters have officially undertaken to cooperate fully with the Resolution Professional in the CIRP.
NCLT approved a Resolution Plan for the Serene Residency project earlier on October 6, 2025.
The court disposed of a writ petition from homebuyers, allowing them to pursue other legal remedies.
CIRP proceedings are mandated to proceed expeditiously under the Insolvency and Bankruptcy Code.

💡 Investors should exercise extreme caution as the company remains under the Insolvency and Bankruptcy Code framework. Monitor the progress of project-specific resolutions to see if the company can successfully ring-fence its other assets.

Ansal Properties Reports 99.6% Shares in Demat Form for Quarter Ended March 2026

🟡 NEUTRAL ⭐ 3/10

REGULATORY 📅 11 Apr 2026, 11:40 AM

Ansal Properties and Infrastructure Limited has filed its quarterly compliance certificate under SEBI Regulation 74(5) for the period ending March 31, 2026. The report confirms that 15,68,44,616 shares are now held in electronic form across NSDL and CDSL, representing the vast majority of the company's equity. During the quarter, the company processed 3 dematerialization requests involving 10,350 shares. Despite this routine compliance, the company remains under project-specific Corporate Insolvency Resolution Processes (CIRP) for several major developments in Lucknow, Rajasthan, and Gurgaon.

Total of 12,05,63,359 shares held in NSDL and 3,62,81,257 shares in CDSL as of March 31, 2026.
Only 5,60,260 shares remain in physical mode, indicating high dematerialization levels.
Processed 3 demat requests for 10,350 shares during the January to March 2026 quarter with zero pending requests.
Company projects in Lucknow, Rajasthan, and Greater Noida remain under the management of Resolution Professionals due to ongoing CIRP.

💡 This is a routine regulatory filing and does not impact the company's valuation. Investors should remain focused on the legal developments regarding the project-specific insolvency proceedings which are more critical to the company's future.

Ansal Properties Clarifies Non-Submission of Q1 FY26 Consolidated Results Amid CIRP

🔵 WATCH ⭐ 7/10

REGULATORY 📅 08 Apr 2026, 03:15 PM

Ansal Properties & Infrastructure Limited (APIL) has responded to NSE's clarification request regarding the non-submission of consolidated financial results for the quarter ended June 30, 2025. The company stated that the delay was due to the Corporate Insolvency Resolution Process (CIRP) initiated in February 2025 and a lack of data from subsidiaries. Following a January 2026 NCLAT order, the CIRP has been narrowed to specific projects in Lucknow and Rajasthan, and the Board was reconstituted in February 2026. The company intends to address all pending financial results in upcoming board meetings.

CIRP initiated on Feb 25, 2025, was confined to Lucknow and Rajasthan projects by NCLAT on Jan 7, 2026
Board of Directors was reconstituted on Feb 3 and Feb 8, 2026, following the NCLAT order
Standalone results for Q1 FY26 were submitted on Dec 15, 2025, but consolidated results remain pending
Consolidated results were delayed as subsidiaries did not provide financial data to the parent company
Resolution plan for the Serene Residency Group Housing Project was approved by NCLT on Oct 6, 2025

💡 Investors should exercise extreme caution as the company is undergoing project-specific insolvency proceedings and has significant reporting delays. Monitor the next board meeting for the release of consolidated financial statements and updates on the resolution process.

Ansal API: CoC Approves CIRP Expenses and Homebuyer Rep Fees for Fernhill Project

🔵 WATCH ⭐ 7/10

LEGAL 📅 27 Mar 2026, 06:07 PM

Ansal Properties and Infrastructure Limited (APIL) has announced the voting results from the 50th Committee of Creditors (CoC) meeting for its Fernhill Project in Gurugram. The CoC ratified and approved all expenses incurred during the Corporate Insolvency Resolution Process (CIRP) up to March 15, 2026. Additionally, the fees for the Authorised Representative of homebuyers were approved. The company is currently undergoing project-wise insolvency, with separate processes for Fernhill, Lucknow, Rajasthan, and Serene Residency projects.

Approval of CIRP expenses for the Fernhill Project incurred until March 15, 2026.
Ratification of fees for Ms. Aakriti Sood, the Authorised Representative for homebuyers.
Fernhill Project is managed by Resolution Professional Jalesh Kumar Grover under NCLAT orders.
Lucknow and Rajasthan projects are under a separate CIRP managed by Navneet Kumar Gupta.
Resolution plan for the Serene Residency project was already approved by NCLT on October 6, 2025.

💡 Investors should exercise extreme caution as the company is undergoing multiple project-specific insolvency proceedings. The stock remains a high-risk 'Watch' until the final resolution plans for all major projects are successfully implemented.

Ansal API: 50th CoC Meeting for Fernhill Project; Resolution Plan Hearing Set for March 27, 2026

🔵 WATCH ⭐ 8/10

LEGAL 📅 24 Mar 2026, 04:46 PM

Ansal Properties & Infrastructure Limited (APIL) held its 50th Committee of Creditors (CoC) meeting specifically for the Fernhill Project in Gurgaon. The Resolution Professional informed that the hearing for the Resolution Plan approval, submitted by Krish Infrastructure Private Limited, has been preponed to March 27, 2026. Homebuyers currently dominate the CoC with 99.96% of the voting rights. The company continues to navigate project-wise insolvency proceedings across its various developments in Gurgaon, Lucknow, and Rajasthan.

Homebuyers represent 99.96% of the voting power in the Fernhill Project Committee of Creditors.
Resolution Plan approval hearing for the Fernhill Project is preponed to March 27, 2026, following an application by the Successful Resolution Applicant.
The Serene Residency Group Housing Project's resolution plan was already approved by the NCLT on October 6, 2025.
Separate insolvency processes are ongoing for Lucknow and Rajasthan projects as per a settlement with IL&FS Financial Services.
The RP is pursuing legal actions under Section 66 against third parties like Samyak Projects for alleged fraudulent transactions.

💡 Investors should closely monitor the NCLT hearing on March 27, 2026, as the approval of the resolution plan will clarify the company's path forward. Due to the ongoing insolvency proceedings and project-wise resolution, the stock remains extremely high-risk.

Ansal API Appoints New Chairman and 5 Directors Following Shareholder Approval

🔵 WATCH ⭐ 6/10

MANAGEMENT 📅 20 Mar 2026, 07:00 PM

Ansal Properties & Infrastructure Limited (ANSALAPI) has announced the successful passage of six resolutions via postal ballot for the appointment of its board members. Shri Sanjay Jain has been appointed as the Chairman and Non-Executive Independent Director for a two-year term. The board overhaul includes three Independent Directors, a Non-Executive Woman Director, and a Whole Time Director, all serving until February 2028. This management change occurs while the company continues to navigate project-specific Corporate Insolvency Resolution Processes (CIRP) for its Lucknow, Rajasthan, and Gurgaon developments.

Shareholders approved the appointment of 6 directors, including a new Chairman, with terms effective from Feb 12, 2026, to Feb 11, 2028.
Shri Sanjay Jain, an advocate with expertise in arbitration and corporate law, takes over as Chairman and Independent Director.
The Corporate Insolvency Resolution Process (CIRP) remains active but confined to specific projects in Lucknow and Rajasthan.
The Resolution Plan for the Serene Residency Group Housing Project was approved by the NCLT on October 6, 2025.
All resolutions were passed with the requisite majority through a remote e-voting process ending March 20, 2026.

💡 Investors should closely monitor whether this new leadership can resolve the ongoing insolvency proceedings and stabilize the company's project deliveries. Given the legal complexities and project-specific CIRP, the stock remains a high-risk speculative play.

Ansal Properties: 49th CoC Meeting Held for Fernhill Project Under Insolvency Process

🔴 NEGATIVE ⭐ 8/10

LEGAL 📅 27 Feb 2026, 02:38 PM

Ansal Properties & Infrastructure Limited (APIL) conducted the 49th Committee of Creditors (CoC) meeting for its Fernhill Project in Gurgaon on February 25, 2026. The CoC is primarily composed of homebuyers who hold 99.96% of the voting rights for this specific project. During the meeting, the appointment of a Site Manager was ratified with a 91.46% majority of the votes cast by the homebuyers. The company is currently undergoing project-wise insolvency, with separate resolution processes active for its Gurgaon, Lucknow, and Rajasthan developments.

49th CoC meeting for the Fernhill Project (Gurgaon) was held on February 25, 2026, to discuss ongoing resolution progress.
Homebuyers constitute 99.96% of the voting share in the project's Committee of Creditors, indicating their dominant role in the resolution.
The appointment of Mr. Chimman Singh as Site Manager was ratified with 91.46% of the cast votes in favor.
Resolution plan for the Serene Residency project was previously approved by NCLT on October 6, 2025, while other projects remain in CIRP.

💡 Equity investors should exercise extreme caution as the company is undergoing project-wise insolvency, which typically results in significant erosion of shareholder value. Monitor NCLT updates regarding the approval of resolution plans for the remaining projects to assess the company's long-term viability.

Ansal API to Hold 49th CoC Meeting for Fernhill Project on February 25, 2026

🔵 WATCH ⭐ 7/10

LEGAL 📅 21 Feb 2026, 05:08 PM

Ansal Properties & Infrastructure Limited (APIL) has announced the 49th Committee of Creditors (CoC) meeting for its Fernhill project in Gurgaon, scheduled for February 25, 2026. The company is currently undergoing project-wise Corporate Insolvency Resolution Process (CIRP) as per NCLAT orders. While the Serene Residency project's resolution plan was approved in October 2025, the Fernhill, Lucknow, and Rajasthan projects remain under active insolvency proceedings managed by different Resolution Professionals. This meeting is a critical step in determining the future of the Gurgaon-based asset.

49th Meeting of the Committee of Creditors for the Fernhill project scheduled for Feb 25, 2026.
Fernhill project is managed by Resolution Professional Jalesh Kumar Grover following NCLAT orders.
Resolution Plan for the Serene Residency project was already approved by NCLT on October 6, 2025.
Lucknow and Rajasthan projects are under a separate CIRP process as per NCLAT order dated Jan 7, 2026.
The insolvency process remains fragmented across different projects rather than the entire corporate entity.

💡 Investors should exercise extreme caution as the company is in a complex project-wise insolvency state. Monitor the outcomes of CoC meetings for any potential resolution plans that could impact the residual value of the listed entity.

Ansal API Proposes Appointment of Three Independent Directors via Postal Ballot

🔵 WATCH ⭐ 6/10

MANAGEMENT 📅 18 Feb 2026, 05:13 PM

Ansal Properties & Infrastructure Limited has initiated a postal ballot to seek shareholder approval for the appointment of three Non-Executive Independent Directors, including a new Chairman, for two-year terms. These appointments come while the company is navigating project-specific insolvency proceedings in Lucknow, Rajasthan, and Greater Noida. Notably, the proposed directors will receive nil remuneration initially, with future payments contingent on the company's return to profitability. Shareholders can cast their votes electronically between February 19 and March 20, 2026.

Proposed appointment of Shri Sanjay Jain as Chairman and Independent Director for a 2-year term.
Two additional Independent Directors, Roshan Lal Kamboj and Ashok Kumar Verma, proposed for 2-year terms.
All three directors are appointed with nil remuneration, subject to future board review upon profitability.
CIRP remains active for Lucknow and Rajasthan projects following an NCLAT order dated January 7, 2026.
E-voting period for shareholders is scheduled from February 19, 2026, to March 20, 2026.

💡 Investors should monitor the background of the new appointees and the voting results, as this new leadership will oversee the company's complex project-wise insolvency resolutions. The nil-remuneration clause is a critical detail for stakeholders to note regarding the company's current financial management.

ANSALAPI to Seek Shareholder Approval for Appointment of 6 Directors for 2-Year Term

🔵 WATCH ⭐ 6/10

MANAGEMENT 📅 17 Feb 2026, 07:09 PM

Ansal Properties & Infrastructure Limited (ANSALAPI) is seeking shareholder approval via postal ballot for the appointment and designation of six directors, including a new Chairman and Whole Time Director. These appointments are for a fixed two-year term effective from February 12, 2026, until February 11, 2028. The move comes as the company continues to navigate project-specific Corporate Insolvency Resolution Processes (CIRP) for its Lucknow, Rajasthan, and Gurgaon developments. Shareholders as of the February 13, 2026, cut-off date are eligible to vote, with results expected by March 22, 2026.

Appointment of 6 directors including Sanjay Jain as Chairman and Siddharth Goenka as Whole Time Director.
Directors appointed for a fixed term of 02 years from February 12, 2026, to February 11, 2028.
Postal ballot cut-off date fixed as February 13, 2026, with results due by March 22, 2026.
Company remains under project-specific CIRP for Lucknow, Rajasthan, and Greater Noida projects managed by Resolution Professionals.

💡 Investors should exercise extreme caution as the company is currently under project-wise insolvency proceedings. Monitor the postal ballot results and any further updates from the Resolution Professionals regarding the progress of the resolution plans.

Ansal API to Seek Shareholder Approval for 6 Director Appointments via Postal Ballot

🔵 WATCH ⭐ 7/10

MANAGEMENT 📅 17 Feb 2026, 07:03 PM

Ansal Properties & Infrastructure Limited is seeking shareholder approval for the appointment of six directors, including a new Chairman and Whole Time Director, for two-year terms ending February 2028. This restructuring occurs amidst ongoing legal proceedings where the NCLAT has confined the Corporate Insolvency Resolution Process (CIRP) to specific projects in Lucknow and Rajasthan. The company has fixed February 13, 2026, as the cut-off date for determining voting eligibility. Results of the postal ballot are expected to be announced by March 22, 2026.

Seeking approval for 6 director appointments for a 2-year term effective from February 12, 2026, to February 11, 2028.
Shri Sanjay Jain designated as Chairman and Non-Executive Independent Director.
Cut-off date for Postal Ballot eligibility set for February 13, 2026, with results due by March 22, 2026.
NCLAT order dated January 7, 2026, limits the insolvency process to Lucknow and Rajasthan projects only.
Resolution plan for the Serene Residency project was approved by NCLT on October 6, 2025.

💡 Investors should closely monitor the outcome of the postal ballot and the progress of project-specific insolvency resolutions, as the company remains in a high-risk recovery phase. The restructuring of the board is a necessary step for governance, but the underlying legal and financial challenges persist.

Ansal Properties Seeks Shareholder Approval for 6 Board Appointments via Postal Ballot

🔵 WATCH ⭐ 7/10

MANAGEMENT 📅 17 Feb 2026, 06:37 PM

Ansal Properties & Infrastructure Limited is seeking shareholder approval for the appointment of six directors, including a new Chairman and a Whole Time Director, for a two-year term ending February 2028. This management restructuring follows a series of board changes in early February 2026 and occurs while the company is under project-specific Corporate Insolvency Resolution Process (CIRP). The insolvency proceedings are currently confined to specific projects in Lucknow and Rajasthan following an NCLAT order dated January 7, 2026. Investors should track these appointments as the company attempts to stabilize governance amidst ongoing legal and financial restructuring.

Proposed appointment of 6 directors including Sanjay Jain as Chairman and Siddharth Goenka as Whole Time Director.
Appointments are for a fixed 2-year term effective from February 12, 2026, to February 11, 2028.
Postal ballot cut-off date set for February 13, 2026, with voting results due by March 22, 2026.
CIRP remains active but confined to Lucknow and Rajasthan projects per NCLAT order dated January 7, 2026.
Resolution Plan for the Serene Residency project was previously approved by NCLT on October 6, 2025.

💡 Investors should exercise caution due to the ongoing project-specific insolvency proceedings and monitor if the new board can successfully navigate the company out of its current legal distress. The stock remains high-risk until there is more clarity on the resolution of the Lucknow and Rajasthan project liabilities.

Ansal Properties Delays Q3 FY26 Results Due to CIRP and Board Reconstitution

🔴 NEGATIVE ⭐ 8/10

REGULATORY 📅 13 Feb 2026, 05:41 PM

Ansal Properties & Infrastructure Limited has announced a delay in the submission of its Un-Audited Financial Results for Q3 and the nine months ended December 31, 2025, missing the February 14, 2026 deadline. This delay is attributed to the company's recent Corporate Insolvency Resolution Process (CIRP) and the fact that the Board of Directors was entirely vacant until its reconstitution on February 8-9, 2026. Following an NCLAT order on January 7, 2026, the CIRP has been narrowed to only the Lucknow and Rajasthan projects, returning general management to the new Board. The company also noted that Q2 FY26 results remain pending.

Delay in Q3 FY26 financial results beyond the SEBI-mandated deadline of February 14, 2026.
NCLAT order on January 7, 2026, confined CIRP proceedings specifically to Lucknow and Rajasthan projects.
Board of Directors was reconstituted on February 8th and 9th, 2026, after being vacant during the insolvency process.
Trading window has been closed since October 1, 2025, and will remain closed until 48 hours after result declaration.
Specific projects like Serene Residency and Fernhill remain under the management of separate Resolution Professionals.

💡 Investors should remain highly cautious given the ongoing insolvency proceedings for specific projects and the significant delay in financial reporting. The ability of the newly reconstituted Board to provide transparency and stabilize the company's financial position is a critical watchpoint.

Ansal Properties & Infrastructure IT Head Sanjay Kumar Resigns Effective Feb 2026

🟡 NEUTRAL ⭐ 3/10

MANAGEMENT 📅 13 Feb 2026, 12:51 PM

Ansal Properties & Infrastructure Limited (ANSALAPI) has announced the resignation of Shri Sanjay Kumar from the post of Head of Information Technology, effective February 12, 2026. The resignation was submitted on January 13, 2026, with the executive citing a desire to pursue new career opportunities. This management change occurs while the company is undergoing Corporate Insolvency Resolution Process (CIRP) for specific projects in Lucknow, Rajasthan, and Greater Noida. The company's operations are currently being managed by Resolution Professionals as per various NCLAT and NCLT orders.

Shri Sanjay Kumar resigned as Head of Information Technology effective February 12, 2026.
The resignation letter was submitted on January 13, 2026, following a 30-day notice period.
Company projects in Lucknow and Rajasthan are under CIRP as per NCLAT order dated January 07, 2026.
The Resolution Plan for the Serene Residency project was approved by NCLT on October 06, 2025.
The company remains under the oversight of Resolution Professionals Shri Navneet Kumar Gupta and Shri Jalesh Kumar Grover for specific projects.

💡 Investors should monitor the progress of the Corporate Insolvency Resolution Process (CIRP) rather than this routine management exit. The stock remains a high-risk investment due to ongoing insolvency proceedings and project-specific legal complexities.

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💰 Financial Performance

Revenue Growth by Segment

Revenue from operations decreased during FY24, leading to a 29% decline in the Debtors Turnover Ratio (from 2.56 to 1.81 times) and a 39% decline in the Inventory Turnover Ratio (from 0.15 to 0.09 times). Specific segment-wise percentage growth is not disclosed.

Geographic Revenue Split

Not disclosed in available documents, though operations are concentrated in North India with specific projects like 'Fernhill' in Gurgaon and 'Serene Residency' in Sector ETA.

Profitability Margins

Operating Profit Margin improved significantly from 19% in FY23 to 44.87% in FY24, a 136% increase. Net Profit Margin shifted from (57.71)% in FY23 to 0.996% in FY24, representing a 102% improvement due to reported profits during the year.

EBITDA Margin

Operating Profit Margin stood at 44.87% for FY24, up from 19% in FY23. This 136% YoY increase was driven by higher operating profits despite a decrease in overall revenue from operations.

Capital Expenditure

Not disclosed in available documents; however, the company reduced its total loans by INR 56.55 Cr (16.6%) from INR 340.55 Cr in FY23 to INR 284.00 Cr in FY24 to manage liquidity.

Credit Rating & Borrowing

The company is facing severe liquidity issues and is undergoing Corporate Insolvency Resolution Process (CIRP). Borrowing costs include a demanded interest rate of 18% per annum on delayed payments to subsidiary ATIL. Finance costs decreased 4.3% YoY to INR 13.76 Cr.

⚙️ Operational Drivers

Raw Materials

Construction materials (steel, cement, bricks) are the primary inputs, though specific percentage costs for each are not disclosed. Total inventory, including construction work-in-progress, stood at INR 2,627.21 Cr.

Capacity Expansion

Current focus is on project completion under CIRP rather than expansion. Key projects include Fernhill (Gurgaon) and Serene Residency. Inventory levels decreased by INR 168.43 Cr (approx 6%) as projects progressed or were revalued.

Raw Material Costs

Construction costs decreased in FY24, contributing to the 39% decline in the Inventory Turnover Ratio. Specific procurement strategies are currently managed by the Resolution Professional.

Manufacturing Efficiency

Inventory Turnover Ratio is extremely low at 0.09 times, indicating slow-moving real estate stock and liquidity constraints affecting project completion speed.

📈 Strategic Growth

Expected Growth Rate

Growth Strategy

The company is currently in a defensive/recovery mode under CIRP. Strategy involves the 'Fernhill Project' resolution, settlement of NPA borrowings (e.g., OTS with IFIN for INR 111.36 Cr), and reconciling balances with subsidiaries like Ansal Hi-Tech Townships (INR 7.30 Cr gap).

Products & Services

Real estate products including residential apartments (Fernhill Project, Serene Residency), townships, and commercial properties.

Brand Portfolio

Ansal API

New Products/Services

No new launches reported; focus is on existing 'ongoing and completed real estate projects' and 'unlaunched projects' currently in inventory.

Market Expansion

No expansion planned; the company is focused on resolving insolvency for existing projects in the Delhi-NCR region.

Strategic Alliances

Significant investments in joint ventures and associates valued at INR 490.86 Cr as of March 31, 2024.

🌍 External Factors

Industry Trends

The real estate industry is experiencing a recession, leading to liquidity issues for developers. The company is positioned in a recovery phase, attempting to revive liquidity through OTS and CIRP.

Competitive Landscape

Operates in the highly competitive North India real estate market against other large developers, currently disadvantaged by legal and financial restructuring.

Competitive Moat

The company cites 'Building Lifestyles Since 1967' as a brand heritage moat, but this is currently weakened by a negative net worth and insolvency proceedings.

Macro Economic Sensitivity

Highly sensitive to real estate sector cycles and interest rates. Accumulated losses of INR 1,525.38 Cr are partly attributed to industry-wide recession.

Consumer Behavior

Demand is impacted by project delays; the company is focused on completing projects like Fernhill to restore consumer trust.

⚖️ Regulatory & Governance

Industry Regulations

Subject to RERA; some projects have lapsed registrations under the Haryana RERA Act. Project audits by Asija Associates were mandated by RERA authorities.

Legal Contingencies

The company is in CIRP as of Feb 25, 2025. Pending issues include INR 143.74 Cr owed to subsidiary ATIL and a reconciliation gap of INR 7.30 Cr with Ansal Hi-Tech Townships Limited.

⚠️ Risk Analysis

Key Uncertainties

The primary uncertainty is the outcome of the CIRP. Auditor's qualified opinion notes that if unrecognized interest of INR 36.46 Cr was included, the company would report a loss of INR 31.66 Cr instead of a profit.