India Homes Q2 FY27 Results: Standalone Net Profit ₹4.27 Crore

For the quarter ended 30 Sep 2026, India Homes reported a standalone net profit of ₹4.27 crore, against ₹3.44 crore in the previous quarter and a loss of ₹3.15 crore a year earlier.

Key highlights

Summary

Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.

The quarter's net profit of ₹4.27 crore is after an exceptional item of ₹7.04 crore, which is 164.9% of that profit. For the half year ended 30 Sep 2026 the statement shows net profit of ₹7.71 crore and an exceptional item of ₹13.69 crore, and the quarter ended 30 Jun 2026 shows an exceptional item of ₹6.65 crore.

Note 5 lists the parts of the exceptional item: a gain of ₹7.30 crore from settlement with the ARC, a gain of ₹7.04 crore from settlement with operational creditors, and excess expenses of ₹64.84 lakh on that settlement. The note says these are included in the item for the quarter and the half year. Note 4 says the factory premises are in the possession of J.C. Flowers Asset Reconstruction Private Limited, after the secured lender Dombivli Nagari Sahakari Bank Limited assigned its debt.

The auditor's limited review report, by CGCA & Associates LLP and dated 4 Nov 2026, has a section headed 'Basis for Disclaimer of Opinion'. In it, the auditor says inventories of ₹136.90 crore have not been valued at the lower of cost and net realisable value, and that a comprehensive physical verification could not be performed. It also says it cannot verify work-in-progress of ₹21.67 crore taken over from a director, cannot evaluate the carrying value of insurance claim receivables of ₹11.20 crore (non-current) and ₹16.73 crore (current), and that no impairment assessment under Ind AS 36 was conducted. Balance confirmations were not available to it.

On going concern, the auditor says current liabilities exceed current assets, operational activities have substantially ceased and continuing operating losses have resulted in acute liquidity constraints. On the loan settlement, the auditor's opinion is that the conditions for recognising the ₹7.30 crore gain as exceptional income are not met. The auditor says the company has not made the settlement payment within the stipulated time, the gain remains contingent on compliance with the settlement agreement, and exceptional income and profit before tax for the year are overstated by the same amount.

Inference

Note 3 says the company operates in a single segment, real estate activities, and that project operations have yet to commence. Annexure II repeats the same figure for amount outstanding and amount in default in each block, and gives total financial indebtedness, including short-term and long-term debt, as 8886.87, with the unit not clear in the scan.

The filing does not say how the inventories, work-in-progress or insurance claim receivables will be valued or recovered, or how management responds to the disclaimer.