Board approves unaudited Q2 and half-year results; auditors give unmodified review conclusion
Board approved the unaudited standalone and consolidated results for the quarter and half year ended September 30, 2026, on the Audit Committee's recommendation.
By ScoutQuest · · 3 min read
| Line item | Latest | Year ago | YoY | Prev qtr | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 6,938.32 | 3,784.69 | +83.3% | 5,825.89 | +19.1% |
| Total income | 6,954.20 | 3,813.51 | +82.4% | 5,875.32 | +18.4% |
| Profit before tax | 1,326.01 | 584.14 | +127% | 1,152.36 | +15.1% |
| Profit after tax | 1,045.78 | 520.48 | +101% | 858.07 | +21.9% |
| Total comprehensive income | 1,053.92 | 520.48 | +102% | 854.39 | +23.4% |
| Basic EPS | 5.34 | 2.66 | +101% | 4.36 | +22.5% |
- Profit after tax - Year ago growth
- +101%
- Period
- 30-Sep-26
Auditor's review
Conclusion: Unmodified
Notes to the results
- The Company received the MCA Order approving the Scheme of Merger/Amalgamation on 16th October 2025; the Scheme is effective from 1st April 2025.
- The Company incorporated a wholly owned Section 8 subsidiary, Modi's Navnirman Foundation, on 20th January 2026.
- The Company migrated from the SME Platform to the Main Board of the Stock Exchange with effect from 14th November, 2025.
- Results for the quarter and half year ended September 30, 2025 have not been subject to limited review.
What the board approved
- The Board of Directors met on October 24, 2026, from 11:30 A.M. to 12:30 P.M. and approved the unaudited standalone and consolidated financial results for the quarter ended September 30, 2026, as recommended by the Audit Committee.
- The limited review reports of the statutory auditors, D G M S & Co., are enclosed with the results.
Auditor's conclusion
Both the standalone and consolidated limited review reports state that nothing has come to the auditors' attention that causes them to believe the statements contain any material misstatement or fail to disclose what is required. The notes record that the statutory auditors have expressed an unmodified review opinion on the results for the quarter and half year ended September 30, 2026.
Standalone performance (₹ in lakhs)
- 'Revenue from operations' for the quarter: 6,938.32, against 3,784.69 in the quarter ended September 30, 2025.
- 'Total income' for the quarter: 6,944.17, against 3,813.51 a year earlier.
- 'Profit before tax': 1,324.93, against 584.14.
- 'Profit for the period': 1,044.70, against 520.48.
- Finance costs rose to 116.21, against 2.19 in the year-ago quarter.
- Basic and diluted EPS for the quarter: 5.33, against 2.66.
Standalone half year (₹ in lakhs)
- 'Revenue from operations': 12,764.21
- 'Total income': 12,819.45
- 'Profit for the period': 1,905.84
- Basic and diluted EPS: 9.73
Consolidated performance (₹ in lakhs)
- 'Revenue from operations' for the quarter: 6,938.32
- 'Total income' for the quarter: 6,954.20
- 'Profit before tax': 1,326.01
- 'Profit for the period': 1,045.78, against 520.48 a year earlier
- Basic and diluted EPS for the quarter: 5.34, against 2.66
- Half-year 'Profit for the period': 1,903.85
Balance sheet and cash position (standalone)
- Total equity as at September 30, 2026: 17,580.46 lakh, against 15,670.14 lakh as at March 31, 2026.
- Total assets: 44,814.75 lakh; total liabilities: 27,234.29 lakh.
- Cash and cash equivalents at the end of the half year: 650.39 lakh, against 485.31 lakh at the start.
- Inventories stood at 14,539.75 lakh.
Other corporate notes in the update
- The company's shares were earlier listed on the SME Platform and, after shareholder and stock exchange approval, migrated to the Main Board with effect from November 14, 2025.
- A wholly owned subsidiary, Modis Navnirman Foundation, was incorporated under Section 8 of the Companies Act, 2013 on January 20, 2026.
- The company has received the Ministry of Corporate Affairs order approving a Scheme of Merger/Amalgamation on October 16, 2025, effective from April 1, 2025.
- The company operates in a single reportable business segment, Real Estate Business - Construction & Redevelopment.
- The trading window for dealing in the company's securities remained closed till 48 hours after the declaration of results, i.e. October 26, 2026.
How to read this
The update is a routine quarterly results announcement. The key takeaways are the auditor's unmodified review conclusion, the quarter's 'Revenue from operations' and 'Profit for the period' figures shown alongside the year-ago quarter, and the jump in finance costs. The half-year figures are also available so you can compare against the full-year numbers ended March 31, 2026.
Also from Modis Navnirman
Modis Navnirman H1 FY27: revenue up 53% to ₹127.64 crore, PAT up 59%; ₹661 crore revenue potential from ongoing projects
24 Oct 2026
Modis Navnirman H1 FY27 revenue up 53.06% to ₹127.64 crore, PAT up 59%; new redevelopment win lifts upcoming pipeline to 5 projects
24 Oct 2026
Modis Navnirman to hold Q2 & H1 FY27 earnings conference call on 26 October 2026 at 1:00 PM IST
21 Oct 2026
More numbers
- Standalone Revenue from operations, quarter ended 30-Sep-266,938.32 (₹ in lakhs)
- Standalone Revenue from operations, quarter ended 30-Sep-253,784.69 (₹ in lakhs)
- Standalone Profit for the period, quarter ended 30-Sep-261,044.70 (₹ in lakhs)
- Standalone Profit for the period, quarter ended 30-Sep-25520.48 (₹ in lakhs)
- Standalone Total income, half year ended 30-Sep-2612,819.45 (₹ in lakhs)
- Standalone finance costs, quarter ended 30-Sep-26116.21 (₹ in lakhs)
- Consolidated Profit for the period, quarter ended 30-Sep-261,045.78 (₹ in lakhs)
- Standalone basic EPS, quarter ended 30-Sep-265.33
- Total income, latest quarter6,954.20 (₹ in lakhs)
- Total income, year-ago quarter3,813.51 (₹ in lakhs)
- Total income, previous quarter5,875.32 (₹ in lakhs)
- Total comprehensive income, latest quarter1,053.92 (₹ in lakhs)
- Total comprehensive income, year-ago quarter520.48 (₹ in lakhs)
- Total comprehensive income, previous quarter854.39 (₹ in lakhs)
- Profit after tax, latest quarter1,045.78 (₹ in lakhs)
- Profit after tax, year-ago quarter520.48 (₹ in lakhs)
- Profit after tax, previous quarter858.07 (₹ in lakhs)
- Revenue from operations, latest quarter6,938.32 (₹ in lakhs)
- Revenue from operations, year-ago quarter3,784.69 (₹ in lakhs)
- Revenue from operations, previous quarter5,825.89 (₹ in lakhs)
- Profit before tax, latest quarter1,326.01 (₹ in lakhs)
- Profit before tax, year-ago quarter584.14 (₹ in lakhs)
- Profit before tax, previous quarter1,152.36 (₹ in lakhs)
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