Ansal Properties & Infrastructure Ltd (ANSALAPI)
🎯 Key Takeaways
- Ansal Properties & Infrastructure Ltd is currently navigating a complex insolvency-driven restructuring phase, marked by legal proceedings, forensic audits, and creditor-led project management. The company operates in a mature but distressed segment of the real estate sector, with financial performance showing volatility and limited profitability despite a high ROE figure influenced by accounting adjustments.
- Revenue grew 3.4% QoQ to ₹234 in Q3FY25.
- ⚠️ Ongoing insolvency proceedings across multiple projects pose execution and legal risks, with no guaranteed timeline for resolution or asset recovery.
- Market Cap
- ₹60
- P/B Ratio
- -0.09
- ROE
- 24.2%
- ROCE
- 87.5%
- Debt/Equity
- -0.72
- Promoter
- 48.8%
📖 The Story
Ansal Properties & Infrastructure Ltd is currently navigating a complex insolvency-driven restructuring phase, marked by legal proceedings, forensic audits, and creditor-led project management. The company operates in a mature but distressed segment of the real estate sector, with financial performance showing volatility and limited profitability despite a high ROE figure influenced by accounting adjustments. Management is actively engaged in resolving insolvency processes across key projects, particularly Fernhill, Lucknow, and Rajasthan, under NCLAT and NCLT oversight.
📰 What's Happening
Recent board actions include the approval of a forensic audit into past transactions and the cancellation of prior sale resolutions tied to Sushant Taj City, signaling potential financial irregularities or disputes in earlier dealings. The company has been involved in multiple Committee of Creditors (CoC) meetings for its Fernhill project, where shareholders approved the ratification of CIRP expenses and future costs, as well as compliance with NCLT directives to confine insolvency proceedings. Management continues to coordinate with resolution professionals and regulatory bodies to manage project preservation and creditor claims, with the next CoC hearing scheduled for July 16, 2026.
Source: Stock Announcements
📊 Quarterly Results (₹ Cr)
| Metric | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 |
|---|---|---|---|---|
| Revenue | 190 | 117 | 227 | 234 |
| Operating Profit | -41 | -10 | -289 | 169 |
| OPM % | -21.7% | -8.2% | -127.4% | 72.0% |
| Net Profit | -33 | -5 | -284 | 164 |
| EPS | ₹-1.96 | ₹-0.29 | ₹-18.37 | ₹10.51 |
The company's quarterly financials reveal significant volatility, with operating profits turning sharply negative in Q3 and Q4 FY26 (₹-289 crore and ₹-41 crore respectively), despite revenue fluctuations. This contrasts with a strong operating profit of ₹169 crore in Dec 2024, suggesting inconsistent performance likely tied to project delays or write-downs. The negative net profits and EPS in recent quarters underscore ongoing losses, even as total assets remain stable. The lack of positive cash flow from operations in later quarters raises concerns about sustainability without external support or resolution of insolvency-related constraints.
🔮 Management Outlook & What's Next
Management has not provided explicit forward guidance on revenue recovery or profitability timelines in the latest filings. However, public disclosures indicate a focus on resolving insolvency proceedings, preserving project assets, and ensuring compliance with regulatory timelines. The company is operating under judicial oversight, with key decisions requiring approval from the National Company Law Tribunal (NCLT) and adherence to directives from the National Company Law Appellate Tribunal (NCLAT), limiting autonomous strategic flexibility in the near term.
Extracted from official company announcements. Not StockFin.ai's opinion.
🏦 Balance Sheet (₹ Cr)
| Item | Mar 2023 | Mar 2024 | Mar 2024 | Mar 2025 |
|---|---|---|---|---|
| Equity Capital | 79 | 79 | 79 | 79 |
| Reserves | -695 | -736 | -737 | -887 |
| Borrowings | 541 | 476 | 525 | 476 |
| Total Liabilities | 6,319 | 5,914 | 6,120 | 5,737 |
| Fixed Assets | 566 | 696 | 546 | 515 |
| Investments | 47 | 47 | 47 | 47 |
| Total Assets | 6,319 | 5,914 | 6,120 | 5,737 |
The balance sheet shows stable equity of ₹79 crore over recent periods, but reserves remain deeply negative (₹-887 crore as of Mar 2025), reflecting cumulative losses. Borrowings are consistent at ₹476 crore, suggesting limited new debt accumulation, while total assets have slightly declined from ₹6,120 crore to ₹5,737 crore, indicating asset reduction or revaluation. This pattern suggests a focus on capital preservation rather than aggressive investment or deleveraging, with financial stability maintained through asset base resilience rather than earnings growth.
💰 Cash Flow Statement (₹ Cr)
| Item | Mar 2024 |
|---|---|
| Operating | +84 |
| Investing | +10 |
| Financing | -92 |
| Net Cash Flow | +2 |
👥 Shareholding Pattern
| Category | Q2FY26 | Q3FY26 | Q4FY26 | Q1FY27 |
|---|---|---|---|---|
| Promoters | 48.8% | 48.8% | 48.8% | 48.8% |
| FII | 0.3% | 0.3% | 0.3% | 0.3% |
| DII | 1.4% | 1.4% | 0.7% | 0.7% |
| Public | 37.5% | 37.7% | 37.9% | 37.9% |
| # Shareholders | 29,252 | 29,067 | 29,059 | 28,869 |
Promoter holding remains steady at 48.77% across filings, indicating no recent dilution or stake sale. Institutional investor (FII) holding is minimal (0.25%), while DII ownership has slightly increased from 1.41% to 1.4% recently, suggesting minor accumulation by domestic investors. The growing number of shareholders (from 29,059 to 29,252) may reflect retail investor interest or passive index inclusion. Overall, shareholder base remains stable with no signs of aggressive exit or strategic takeover activity.
⚖️ Peer Comparison — Realty
| Company | MCap (₹ Cr) | P/E | ROCE | ROE | D/E |
|---|---|---|---|---|---|
| DLF | 1.64 L Cr | 37.0 | 6.5% | — | 0.00 |
| LODHA | 1.11 L Cr | 27.0 | 17.9% | — | 0.42 |
| PHOENIXLTD | 69,581 | 54.4 | 15.4% | — | 0.48 |
| OBEROIRLTY | 66,365 | 25.1 | 17.8% | — | 0.16 |
| PRESTIGE | 62,561 | 54.9 | 10.4% | — | 0.92 |
| GODREJPROP | 50,543 | 31.6 | 6.6% | — | 0.82 |
| PFOCUS | 24,498 | 204.9 | 9.4% | — | 2.37 |
| ANANTRAJ | 21,882 | 36.9 | 11.1% | — | 0.10 |
| BRIGADE | 19,048 | 22.1 | 10.9% | — | 0.90 |
| ABREL | 13,308 | — | -4.5% | — | 1.52 |
🔗 Peer Stock Analyses
⚠️ Risk Factors
1. Ongoing insolvency proceedings across multiple projects pose execution and legal risks, with no guaranteed timeline for resolution or asset recovery. 2. Persistent negative operating profits and net losses threaten financial viability without a clear path to profitability. 3. The forensic audit may uncover irregularities that could further impact valuation or trigger regulatory scrutiny. 4. Heavy reliance on third-party cooperation (e.g., Samyak Projects) introduces execution risk in project management during resolution.
📋 Recent Filings
- 🟡 Board Meeting2026-09-24Ansal Properties & Infrastructure Ltd announced a board meeting on September 29, 2026, to approve audited standalone financial results for the quarter…
- 🔴 Announcement2026-09-05Ansal Properties & Infrastructure Ltd received NCLT approval for its Fernhill Project resolution plan under the IBC, marking a key step in restructuri…
- 🟡 Board Meeting2026-08-20The board approved a forensic audit of past transactions, cancelled prior resolutions related to Sushant Taj City sales, and authorized new signatorie…
- 🔴 Financial Results2026-08-10Ansal Properties & Infrastructure Limited announced a delay in finalizing and declaring its unaudited financial results for the first quarter ended Ju…
- Announcement2026-07-27Ansal Properties & Infrastructure Limited disclosed that its audited standalone financial results for the quarter and year ended March 31, 2025 were s…
- 🟡 voting results2026-07-15Ansal Properties & Infrastructure Limited announced the voting results from the 54th Committee of Creditors meeting for its Fernhill Project in Gurugr…
- 🔴 Announcement2026-07-13Ansal Properties & Infrastructure Limited disclosed the minutes of its 54th Committee of Creditors meeting for the Fernhill Project in Gurugram, held …
- 🔴 Announcement2026-07-08Ansal Properties & Infrastructure announced that the 54th meeting of the Committee of Creditors for its Fernhill project in Gurgaon is scheduled for J…
- Announcement2026-07-07Ansal Properties & Infrastructure Limited disclosed a payment default on interest and principal for loans and revolving facilities for the quarter end…
- 🟡 Board Meeting2026-07-04Ansal Properties & Infrastructure announced that Smt. Kanta Devi surrendered DIN 08682540 after discovering she held two DINs, 08682540 and 07185431. …
🧠 Analyst's Read
Ansal Properties remains in a high-risk restructuring phase with limited near-term visibility on financial recovery. Investors should monitor the outcome of the forensic audit, progress in insolvency resolution plans, and any improvement in operating performance, particularly in Q1 FY27 results once disclosed. The company’s future hinges on resolving legal and operational bottlenecks rather than organic growth.
Based on filing content and financial data. Not a recommendation.
Read the full analysis
Quarterly trends, balance sheet, cash flow, peer comparison, and AI insights — sign up free to unlock.
Sign Up Free — Unlock Full Analysis2 free AI queries per day.
Data sourced from stock announcements. Analysis generated by StockFin.ai.
For informational purposes only — not investment advice. Updated 2026-09-29.
Editorial & Data Transparency Notice
This analysis was programmatically compiled using StockFin AI utilizing official regulatory disclosures from the BSE and NSE. Content is automatically synthesized and audited against public financial filings. StockFin.ai is an educational research platform and is NOT a SEBI-registered investment advisor or research analyst.
📡 Get AI alerts when ANSALAPI files new disclosures
Track ANSALAPI filings, board meetings, and corporate actions. Free email alerts at 5 PM.
Track ANSALAPI — FreeFree account · 2 AI queries/day