Manraj Housing Finance reports zero revenue and a negative net worth.
The company has defaulted on ₹687 lakhs in bank debt while its assets remain under Enforcement Directorate attachment.
— 1 earlier story on Manraj Housing Finance Ltd. →What's new
- Manraj Housing Finance posted a net loss of ₹47.97 lakhs for FY26.
- The company generated zero revenue from operations during the year.
- Over 99% of assets are locked in an Enforcement Directorate investigation.
Why this matters
The company is effectively a shell with no active business for three years. With assets attached by the ED and a negative net worth, the auditor's warning about its future is the only logical conclusion.
What we're watching
- Any further legal developments regarding the ED investigation.
- Potential liquidation or insolvency proceedings from creditors.
- Whether the company remains listed given the lack of operations.
The full read
Manraj Housing Finance is a company in name only. It generated zero revenue in FY26 and reported a net loss of ₹47.97 lakhs. Its balance sheet is effectively hollowed out, with over 99% of its assets tied up in an Enforcement Directorate investigation and attached under the Prevention of Money Laundering Act. The financial distress is absolute. The company has defaulted on ₹687 lakhs in bank loans, while uncharged interest has piled up to ₹711 lakhs. With a negative net worth of ₹74.96 lakhs and no operations for over three years, the auditor has issued an adverse opinion. The company is not a going concern. It is a collection of frozen assets and mounting liabilities.
Questions answered
- What is the status of the company's assets?
- More than 99% of the company's assets are advances to related parties that are currently under investigation by the Enforcement Directorate. These assets have been attached under the Prevention of Money Laundering Act.
- How much debt has the company defaulted on?
- Manraj Housing Finance has defaulted on ₹687 lakhs in bank borrowings. Additionally, it owes ₹711 lakhs in uncharged interest.
- Is the company still operating?
- No. The auditor noted that the company has not been operational for more than three years.
- What is the auditor's view on the company's future?
- The auditor issued an adverse opinion and stated there is significant doubt regarding the company's ability to continue as a going concern.
Story so far
All notes on MANRAJH →- 26 May 2026 · 8:46 PM IST Manraj Housing Finance reports zero revenue and a negative net worth.
- today Manraj Housing Finance net worth turns negative as auditor flags default