Ansal Housing's group loss reaches Rs 9.89 crore in September

Ansal Housing Limited reported a Rs 9.89 crore consolidated loss after tax for the quarter ended 30 September 2026, while its standalone business made a Rs 1.47 crore profit after tax. The divergence arose as consolidated expenses of Rs 45.65 crore exceeded total income of Rs 35.55 crore, despite group revenue of Rs 34.02 crore.

Why did Ansal Housing make a standalone profit but a group loss?

Ansal Housing made a standalone profit because the listed parent reported Rs 1.47 crore profit after tax, whereas the consolidated accounts, which include subsidiaries, recorded a Rs 9.89 crore loss after tax in the quarter ended 30 September 2026. The parent’s profit before tax was Rs 1.85 crore, while the group’s loss before tax was Rs 11.81 crore.

The difference was evident in the relationship between income and expenditure. Standalone total income was Rs 30.16 crore against total expenses of Rs 26.61 crore, producing Rs 3.55 crore of profit before exceptional items and tax. Consolidated total income was higher at Rs 35.55 crore, but expenses reached Rs 45.65 crore, resulting in a Rs 10.17 crore loss before exceptional items and tax.

Both statements included exceptional expenses, but the broader group had a materially different operating outcome. Standalone exceptional expense was Rs 1.70 crore and consolidated exceptional expense was also Rs 1.70 crore for the September 2026 quarter. Consolidated operation and maintenance expense was Rs 9.47 crore, a line item not separately shown in the standalone statement, while group employee-benefit expense was Rs 4.60 crore against Rs 2.67 crore for the parent.

How did Ansal Housing's September-quarter performance change?

Ansal Housing’s consolidated loss widened to Rs 9.89 crore in the quarter ended 30 September 2026 from Rs 3.32 crore in the quarter ended 30 June 2026 and Rs 6.62 crore in the quarter ended 30 September 2025. Consolidated revenue from operations fell to Rs 34.02 crore from Rs 46.70 crore sequentially and Rs 121.47 crore a year earlier.

The standalone result moved differently from the prior-year quarter. Standalone profit after tax of Rs 1.47 crore reversed a Rs 0.63 crore loss in the quarter ended 30 September 2025 and exceeded the Rs 0.62 crore profit reported in the June 2026 quarter. However, standalone revenue from operations fell to Rs 29.37 crore from Rs 32.20 crore in June 2026 and Rs 103.15 crore a year earlier.

For the six months ended 30 September 2026, Ansal Housing reported standalone profit after tax of Rs 2.10 crore, compared with Rs 1.92 crore in the corresponding 2025 period. The consolidated loss after tax widened to Rs 13.01 crore from Rs 6.91 crore. The group’s six-month total comprehensive loss was Rs 13.07 crore, compared with Rs 7.05 crore in the corresponding period.

Finance costs remained material in both sets of accounts. Consolidated finance costs were Rs 6.82 crore for the September 2026 quarter, compared with Rs 4.94 crore in the June 2026 quarter and Rs 8.87 crore a year earlier. Standalone finance costs were Rs 6.63 crore, up from Rs 4.69 crore in the preceding quarter but below Rs 5.76 crore in the September 2025 quarter.

What do Ansal Housing's balance sheet and cash flows show?

Ansal Housing’s consolidated equity attributable to owners fell to Rs 86.64 crore at 30 September 2026 from Rs 99.71 crore at 31 March 2026. Consolidated total assets declined to Rs 1,294.17 crore from Rs 1,308.30 crore, while inventories decreased to Rs 841.89 crore from Rs 849.67 crore over the six-month period.

Cash and borrowings also changed during the period. Consolidated cash and cash equivalents fell to Rs 2.73 crore at 30 September 2026 from Rs 8.74 crore at 31 March 2026, while short-term borrowings declined to Rs 218.77 crore from Rs 241.55 crore. Long-term borrowings declined to Rs 44.70 crore from Rs 51.74 crore.

The group generated operating cash flow of Rs 39.40 crore in the six months ended 30 September 2026, down from Rs 58.41 crore in the corresponding 2025 period. Financing activities used Rs 41.18 crore, including Rs 32.46 crore of repayments of long-term borrowings. As a result, cash and cash equivalents decreased by Rs 6.01 crore during the six months.

The standalone balance sheet showed a different equity movement. Equity attributable to owners rose to Rs 122.66 crore at 30 September 2026 from Rs 120.62 crore at 31 March 2026. Standalone inventories decreased to Rs 725.19 crore from Rs 739.73 crore, while short-term borrowings declined to Rs 154.79 crore from Rs 175.20 crore.

What audit and legal matters accompany Ansal Housing's results?

Ansal Housing’s statutory auditor, Dewan P N Chopra & Co, issued unmodified limited-review conclusions on the standalone and consolidated results dated 14 November 2026. The auditor stated that a review is substantially narrower than an audit and therefore did not express an audit opinion. It drew attention to litigation, recoverability of advances and deposits, and balances awaiting confirmation or reconciliation.

The filing also covers the Directorate of Enforcement attachment concerning the Ansal Hub-83 project in Sector-83, Gurugram. The provisional attachment order dated 17 February 2026 initially covered land and construction cost of Rs 82.79 crore. Ansal Housing said the project-in-progress cost in its books had reduced to Rs 3.79 crore at 30 September 2026 through revenue recognition under Indian Accounting Standard 115, Revenue from Contracts with Customers.

The Adjudicating Authority confirmed the attachment on 5 August 2026, and Ansal Housing said it has appealed before the appellate tribunal. Management said the attachment restricts sale, transfer and third-party rights in the assets but does not affect ownership, possession or use, and that the ultimate outcome and consequential impact cannot presently be determined.

The auditor also highlighted the Samyak Projects Private Limited matter. Ansal Housing stated that Rs 57.95 crore, including accrued interest to 31 March 2020, remains recoverable from Samyak and that it has made no provision. Management said recovery claims have been consolidated with ongoing arbitration proceedings after earlier proceedings before the National Company Law Tribunal, National Company Law Appellate Tribunal and Supreme Court.

Conclusion

The September 2026 results show that Ansal Housing’s parent-company profitability did not extend to the group. A Rs 1.47 crore standalone profit contrasted with a Rs 9.89 crore consolidated loss, as consolidated expenses exceeded income and the six-month group loss widened to Rs 13.01 crore from Rs 6.91 crore a year earlier.

The next disclosed matters to watch are the appellate process over the Ansal Hub-83 attachment and the ongoing arbitration involving Samyak. The filing gives no financial target or resolution timetable for either matter, while management maintains that the Rs 57.95 crore Samyak balance is recoverable and that no material adjustment is expected from the attachment appeal.