Ansal Properties & Infrastructure Limited (ANSALAPI)
₹3.57 +0.00% last close, 16 Oct
Latest quarterly results (Q4 FY26)
In its latest reported quarter, Q4 FY26, Ansal Properties' revenue was ₹2.6 Cr (-98.3% year on year, -84.6% on the previous quarter), and net profit ₹-6.5 Cr (a smaller loss than a year earlier); the operating margin was -464.3%.
| Q4 FY26 (₹ Cr) | Value | YoY vs Q4 FY25 | QoQ |
|---|---|---|---|
| Revenue | ₹2.6 | -98.3% | -84.6% |
| Operating profit | ₹-12.0 | loss narrowed | loss widened |
| Net profit | ₹-6.5 | loss narrowed | to loss |
| EPS (₹) | -0.41 | loss narrowed | to loss |
| Operating margin | -464.3% | — | — |
ANSALAPI exchange data
NSE end-of-day data for
It closed at its upper price band (circuit) on 16 Oct, one of 13 band closes in about the last 20 sessions.
A description of what the exchange published, not a recommendation. Names such as "accumulation" or "long buildup" label a pattern in the numbers. How delivery is analysed
📢 Recent Corporate Announcements
Ansal Properties & Infrastructure Limited has submitted its quarterly compliance certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018 for the period ended September 30, 2026. The certificate from RTA MUFG Intime India Pvt. Ltd. confirms that security certificates received for dematerialization were processed, cancelled, and substituted within prescribed timelines. The filing also notes ongoing project-wise Corporate Insolvency Resolution Process (CIRP) proceedings, with Lucknow and Rajasthan projects managed under RP Navneet Kumar Gupta following an NCLAT order dated January 7, 2026. This is a routine secretarial filing with no direct impact on operational cash flows.
- Compliance certificate filed under Regulation 74(5) for the quarter ended September 30, 2026
- RTA MUFG Intime India confirmed processing and cancellation of dematerialization requests within timelines
- CIRP confined to Lucknow and Rajasthan projects per NCLAT order dated January 7, 2026
- Resolution plan for Serene Residency project approved by NCLT on October 6, 2025
Ansal Properties & Infrastructure Limited submitted its quarterly loan default disclosures for the quarter ended September 30, 2026. The company reported a principal default of ₹94.32 Cr out of ₹96.98 Cr total outstanding bank/financial institution loans. Total financial indebtedness of the listed entity stood at ₹183.37 Cr, against a market cap of ₹63 Cr and negative net worth of ₹-1,816 Cr. Several company projects, including Fernhill and Lucknow/Rajasthan projects, remain under project-specific Corporate Insolvency Resolution Processes (CIRP).
- Principal default on loans from banks/FIs stands at ₹94.32 Cr as of September 30, 2026
- Total bank/FI loan outstanding principal is ₹96.98 Cr, meaning ~97% of bank facilities are in default
- Total financial indebtedness (short-term and long-term principal) stands at ₹183.37 Cr
- Unlisted debt securities (NCDs/NCRPS) outstanding and default reported as Nil
- Project-wise CIRP ongoing for Fernhill, Serene Residency, and Lucknow/Rajasthan projects
Ansal Properties & Infrastructure Limited announced that its Board of Directors decided not to recommend any dividend for FY 2025-26. The company reported standalone total income of Rs 124.79 crore and net profit of Rs 36.22 crore (adjusted to Rs 12.96 crore following audit qualifications). Financial strain remains severe with a standalone net worth deficit of Rs 1,779.46 crore as of March 31, 2026. In addition, the company failed to convene its AGM by September 30, 2026, and could not provide consolidated results due to non-receipt of data from subsidiaries.
- Board did not recommend any dividend for FY 2025-26
- Reported standalone FY26 total income of Rs 12,479 lakh and net profit of Rs 3,622 lakh (adjusted: Rs 1,296 lakh)
- Audit qualification noted unrecognised interest of Rs 2,326.13 lakh on NPA borrowings
- Standalone negative net worth stands at Rs 1,77,946 lakh (adjusted: negative Rs 1,80,272 lakh)
- Resolution plans for Serene Residency and Fernhill projects approved on October 6, 2025, and July 24, 2026, respectively
Ansal Properties & Infrastructure Limited announced that its Board of Directors decided not to recommend any dividend for FY 2025-26. The company reported standalone total income of Rs 124.79 crore and net profit of Rs 36.22 crore (adjusted to Rs 12.96 crore following audit qualifications). Financial strain remains severe with a standalone net worth deficit of Rs 1,779.46 crore as of March 31, 2026. In addition, the company failed to convene its AGM by September 30, 2026, and could not provide consolidated results due to non-receipt of data from subsidiaries.
- Board did not recommend any dividend for FY 2025-26
- Reported standalone FY26 total income of Rs 12,479 lakh and net profit of Rs 3,622 lakh (adjusted: Rs 1,296 lakh)
- Audit qualification noted unrecognised interest of Rs 2,326.13 lakh on NPA borrowings
- Standalone negative net worth stands at Rs 1,77,946 lakh (adjusted: negative Rs 1,80,272 lakh)
- Resolution plans for Serene Residency and Fernhill projects approved on October 6, 2025, and July 24, 2026, respectively
Ansal Properties & Infrastructure Limited announced that its Board of Directors decided not to recommend any dividend for FY 2025-26. The company reported standalone total income of Rs 124.79 crore and net profit of Rs 36.22 crore (adjusted to Rs 12.96 crore following audit qualifications). Financial strain remains severe with a standalone net worth deficit of Rs 1,779.46 crore as of March 31, 2026. In addition, the company failed to convene its AGM by September 30, 2026, and could not provide consolidated results due to non-receipt of data from subsidiaries.
- Board did not recommend any dividend for FY 2025-26
- Reported standalone FY26 total income of Rs 12,479 lakh and net profit of Rs 3,622 lakh (adjusted: Rs 1,296 lakh)
- Audit qualification noted unrecognised interest of Rs 2,326.13 lakh on NPA borrowings
- Standalone negative net worth stands at Rs 1,77,946 lakh (adjusted: negative Rs 1,80,272 lakh)
- Resolution plans for Serene Residency and Fernhill projects approved on October 6, 2025, and July 24, 2026, respectively
Ansal Properties & Infrastructure Limited has notified exchanges that its trading window, closed since 1st April 2026, will continue to remain shut for Q2 FY27 until 48 hours after financial results dissemination. The closure covers pending Audited Financial Results for the year ended 31st March 2026 as well as unaudited results for Q1 (ended 30th June 2026) and Q2 (ended 30th September 2026). The Board meeting to approve audited results for FY26 is scheduled for 29th September 2026, while dates for Q1 and Q2 FY27 results will be notified separately. The filing also notes ongoing project-wise Corporate Insolvency Resolution Processes (CIRP) for its Lucknow, Rajasthan, and Serene Residency projects.
- Trading window remains shut since 1st April 2026 through 48 hours post declaration of Q2 FY27 results
- Board meeting to approve Audited Standalone FY26 results scheduled for 29th September 2026
- Results pending release span FY26 (ended 31st March 2026), Q1 FY27 (ended 30th June 2026), and Q2 FY27 (ended 30th September 2026)
- CIRP confined to Lucknow and Rajasthan projects per Supreme Court and NCLAT orders dated 16th April 2026 and 7th January 2026
The National Company Law Tribunal (NCLT), New Delhi, has approved the Resolution Plan submitted by Krish Infrastructure Private Limited for Ansal Properties' 'Fernhill Project' in Gurgaon. Under the project-specific CIRP, ₹20 Cr will be infused exclusively for project construction and revival. There is no change to the equity shareholding pattern or corporate-level capital structure of the company. Meanwhile, separate insolvency proceedings continue for the company's Lucknow and Rajasthan projects.
- NCLT approved the resolution plan for the Fernhill Project (Gurgaon) under Section 31 of IBC.
- Krish Infrastructure Private Limited approved as the resolution applicant with 100% CoC voting share.
- ₹20 Cr will be infused by the incoming resolution applicant specifically for project construction.
- Shareholding pattern remains unchanged with 0% dilution at the parent company level.
Ansal Properties & Infrastructure Limited has submitted its Structured Digital Database (SDD) compliance certificate for the quarter ended June 30, 2026, pursuant to SEBI (Prohibition of Insider Trading) Regulations. The certificate issued by Practicing Company Secretary Roni & Associates confirms that the company maintains an internal, non-tamperable SDD with an audit trail capability of 8 years. During the quarter, the company was required to capture 1 event of Unpublished Price Sensitive Information (UPSI) and successfully logged 1 event. No non-compliances were observed for the previous quarter ended March 31, 2026.
- Submitted SDD compliance certificate for the period April 1, 2026 to June 30, 2026
- Company required to capture 1 UPSI event during the quarter and captured 1 event
- Database maintained internally with tamper-proof records capable of retention for 8 years
- Zero non-compliances observed for the prior quarter ended March 31, 2026
Ansal Properties & Infrastructure's newly reconstituted Board has initiated a comprehensive forensic audit covering the 10-year period from April 1, 2016, to March 31, 2026. The Board appointed M/s SLO Technologies Private Limited (AdvaRisk) effective August 19, 2026, following preliminary reviews indicating potential undervaluation, illegal related-party transactions, misapplication of borrowed funds, and breaches in RERA-designated accounts. The company, which has a negative net worth of ₹-1,816 Cr and multiple projects under insolvency resolution, has also revoked and reassigned execution powers for its Sushant Taj City project.
- Forensic audit initiated for a 10-year period from 01st April 2016 to 31st March 2026
- M/s SLO Technologies Private Limited (AdvaRisk) appointed as forensic auditor w.e.f. 19th August, 2026
- Preliminary review flagged potential fund diversions, unapproved RPTs, and RERA account irregularities
- Cancellation and reassignment of execution authorisations for the Sushant Taj City, Agra Project
- Resolution process status noted: CIRP confined to Lucknow and Rajasthan, Serene Residency plan approved on 06th October, 2025
Ansal Properties & Infrastructure Limited (ANSALAPI) has announced a delay in declaring its un-audited financial results for the quarter ended June 30, 2026, which were due by August 14, 2026. The delay is primarily because the company has yet to finalize its audited financial results for the full year ended March 31, 2026, which were originally due by May 30, 2026. The company is currently operating under project-specific Corporate Insolvency Resolution Processes (CIRP) for several key developments. Given the company's negative net worth of ‡1,816 Cr and ongoing insolvency proceedings, this reporting delay underscores severe administrative and liquidity constraints.
- Q1 FY27 results delayed beyond the regulatory deadline of August 14, 2026.
- FY26 audited results remain pending despite an original regulatory deadline of May 30, 2026.
- Company is currently under CIRP for specific projects in Lucknow, Rajasthan, and Gurgaon (Fernhill).
- Trading window remains closed since April 1, 2026, and will stay closed until 48 hours after results are declared.
- Resolution Plan for the Serene Residency project was approved by NCLT on October 6, 2025.
Ansal Properties & Infrastructure Limited (APIL) responded to NSE queries regarding its FY25 financial results, citing the ongoing Corporate Insolvency Resolution Process (CIRP) as the reason for several reporting lapses. The company failed to submit consolidated financial results, stating it faced 'huge difficulty' in obtaining data from its subsidiaries. Furthermore, the Statement of Impact of Audit Qualifications lacked signatures from a CFO or Audit Committee Chairman because the CFO resigned on April 4, 2025, and the entire Audit Committee resigned following the insolvency initiation on February 25, 2025. The statutory auditor also admitted to a clerical error, mislabeling the 'Audit Report' as a 'Review Report'.
- Corporate Insolvency Resolution Process (CIRP) initiated on February 25, 2025, suspending Board powers.
- Consolidated financial results for FY25 were not submitted due to inability to access subsidiary data.
- CFO Prashant Kumar resigned effective April 4, 2025, and no replacement has been appointed.
- Audit Committee Chairman and members resigned between February and June 2025, leaving the committee non-functional.
- Resolution Plan for the Serene Residency project was approved by NCLT on October 6, 2025.
Ansal Properties & Infrastructure Limited (APIL) has reported the voting results from the 54th Committee of Creditors (CoC) meeting for its Fernhill Project in Gurugram. The CoC approved the representation of homebuyers holding RERA orders and ratified insolvency process (CIRP) expenses for the period May 11, 2026, to June 30, 2026. This project-wise insolvency approach is critical as the company operates with a negative net worth of ₹1,816 Cr and remains in a defensive recovery mode.
- 54th meeting of the Committee of Creditors (CoC) for the Fernhill Project concluded with voting on July 14, 2026.
- Approved representation of Homebuyers/Allottees holding RERA orders in compliance with the NCLT order dated July 2, 2026.
- Ratified CIRP expenses incurred during the period from May 11, 2026, to June 30, 2026.
- Approved estimated CIRP expenses for the upcoming one-month period to maintain project resolution activities.
- Company continues to manage multiple project-specific insolvencies including Fernhill, Serene Residency, and projects in Lucknow/Rajasthan.
Ansal Properties & Infrastructure Limited (ANSALAPI) has submitted its quarterly compliance certificate under SEBI Regulation 74(5) for the period ended June 30, 2026. The filing confirms that the Registrar and Share Transfer Agent, MUFG Intime India Pvt. Ltd., processed dematerialization requests within prescribed timelines. Crucially, the document reiterates that the company is under project-wise Corporate Insolvency Resolution Process (CIRP) for its Lucknow and Rajasthan projects following a January 7, 2026, NCLAT order. Additionally, the Serene Residency project in Greater Noida is managed by a Resolution Professional with a plan approved on October 6, 2025.
- Compliance certificate issued for the quarter ended June 30, 2026
- NCLAT order dated January 7, 2026, confines CIRP to Lucknow and Rajasthan projects
- Resolution Plan for Serene Residency project was approved on October 6, 2025
- Settlement agreement with IL&FS Financial Services Limited dated March 3, 2022, influenced CIRP scope
Ansal Properties & Infrastructure Limited (APIL) held the 54th Committee of Creditors (CoC) meeting for its Fernhill Project in Gurgaon on July 10, 2026. The meeting focused on administrative approvals, including an estimated Corporate Insolvency Resolution Process (CIRP) cost of Rs 7.25 lakh for July 2026. The company is currently operating under a project-wise insolvency framework, with separate processes for its Fernhill, Serene Residency, and Lucknow/Rajasthan projects. Given the company's negative net worth of Rs -1816 Cr, these project-specific resolutions are the primary focus for potential recovery.
- 54th meeting of the Committee of Creditors for the Fernhill Project held on July 10, 2026
- Rs 7,25,005 estimated CIRP expenses proposed for the month of July 2026
- Rs 2,50,000 monthly fee allocated for the Resolution Professional (RP)
- Rs 2,07,914 budgeted for site security fees for the Fernhill project in July 2026
- Rs 40,603 in actual miscellaneous expenses approved for the period May 11 to June 30, 2026
Ansal Properties & Infrastructure has scheduled the 54th Committee of Creditors (CoC) meeting for its Fernhill project in Gurgaon for July 10, 2026. The company is currently undergoing a project-wise Corporate Insolvency Resolution Process (CIRP), where different projects are resolved independently. While the Serene Residency project's resolution plan was approved in October 2025, the Fernhill project remains in active deliberations. The company is in severe financial distress with a negative net worth of ₹1,816 crore and TTM losses of ₹159 crore.
- 54th meeting of the Committee of Creditors for the Fernhill project to be held on July 10, 2026
- Resolution plan for the Serene Residency project was previously approved by NCLT on October 6, 2025
- Settlement agreement with IL&FS Financial Services (IFIN) involved a sum of ₹111.36 crore
- Company's net worth is currently a negative ₹1,816 crore with TTM revenue of ₹768 crore
- CIRP is project-specific, covering Fernhill (Gurgaon), Serene Residency, and Lucknow/Rajasthan projects
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
0%
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.
Geographic Concentration Risk
High concentration in the Delhi-NCR region, specifically Gurgaon and Greater Noida.
Third Party Dependencies
High dependency on lenders for One Time Settlements (OTS) and on the Resolution Professional for operational continuity.
Technology Obsolescence Risk
Not a primary risk for real estate, though digital transformation in sales and project management is not detailed.
Credit & Counterparty Risk
Sundry Debtors of INR 238.23 Cr are considered 'good and realizable' by management, though the turnover ratio has slowed by 29%.
