1. Taj City Centre Gurugram - operating turnaround - Hotel revenue rose to ₹117.13 cr in FY25 from ₹108.84 cr in FY24, with cash profit jumping to ₹23.61 cr from ₹14.77 cr. The single operating asset is now generating meaningful cash flow that can fund growth without further leveraging the balance sheet.
2. Promoter warrant conversion - ₹13.05 cr equity infusion - The promoter and promoter group converted 20 lakh warrants at ₹65.25 per share, bringing in the balance 75% payment and taking their stake to 71.99% post-allotment in March 2025. The completed infusion strengthens the equity base and signals promoter commitment to the company's capital structure.
3. Non-promoter warrant conversion - ₹7.34 cr equity infusion - Two tranches of 7.5 lakh warrants each were converted by Neha Jain (July 2025) and Meridian Securities (October 2025), adding ₹7.34 cr to equity. The staggered conversion brings in external capital and widens the shareholder base while reducing reliance on debt.
4. Promoter group open-market buying - June 2026 - Rima Arora acquired 843 shares over two days (29-30 June 2026), lifting her holding to exactly 2.00%. Ongoing insider buying at market prices reinforces alignment with outside shareholders.
5. Dividend conservation - reserves reclassified - The Board skipped the FY25 dividend and transferred ₹72.59 cr from statutory and general reserves to retained earnings to strengthen the financial position for future growth. The retained capital stays inside the company, available to fund expansion without fresh external financing.