Why did Radhe Developers' revenue drop to zero in Q1?

The company reported nil revenue from operations for Q1 FY27, compared to ₹6.15 crore in Q1 FY26. The filing does not provide a reason; a project completion gap or lack of new sales could be the cause.

What is the auditor's gratuity qualification?

S Parth & Co noted that Radhe Developers has not made a provision for gratuity as required under Ind AS 19. This is a departure from accounting standards and may indicate a liability omission.

How does this compare to Radhe Developers' trailing performance?

On a trailing basis, revenue had already fallen 42.9% and PAT 95.3%. The Q1 performance accelerates that decline: from a profit of ₹3.88 crore in Q1 FY26 to a loss of ₹1.20 crore.

What is the scale of this loss relative to the company's market cap?

With a market cap of ₹95 crore, a single-quarter loss of ₹1.20 crore represents about 1.3% of market cap, which is material for a firm of this size.

Earnings · Real Estate · Micro cap

Radhe Developers' revenue vanishes, swings to Q1 loss

From ₹6.15 cr revenue and ₹3.88 cr profit a year ago to nil revenue and a ₹1.20 cr loss. Auditor flags gratuity provision gap.

— 3 earlier stories on Radhe Developers (India) Ltd. →

RADHEDE By Tipsheet Editorial 17 Jul 2026 · 3:59 PM IST Verify on BSE · NSE

Mkt cap₹94.96 cr

P/E29.27×

ROE2.35%

Debt / eq.0.58

₹1.20 cr net loss Q1 FY27 net loss vs ₹3.88 cr profit a year ago

What's new

Revenue from operations fell to nil from ₹6.15 cr year-on-year.
Net loss of ₹1.20 cr versus a profit of ₹3.88 cr in the year-ago quarter.
Limited review by S Parth & Co flagged non-provision for gratuity, a departure from Ind AS 19.

Why this matters

For a ₹95 cr market-cap developer, this is a complete reversal. Revenue disappeared and profits turned to losses, while the auditor flagged a compliance gap. The trajectory is stark even by nano-cap standards.

What we're watching

Management explanation for the revenue collapse in upcoming concall.
Whether the gratuity provision is addressed in subsequent filings.
If the trend continues into Q2, the stock could face further pressure.

The full read

Radhe Developers (India) reported an almost complete evaporation of business in Q1 FY27. Revenue from operations stood at nil, down from ₹6.15 crore a year ago and ₹2.39 crore in the preceding March quarter. The company swung from a profit of ₹3.88 crore in Q1 FY26 to a net loss of ₹1.20 crore. The results, approved by the board on 17 July, come with a limited review from S Parth & Co that flags the absence of a gratuity provision, a departure from Ind AS 19. For a ₹95 crore market-cap developer that had doubled its FY26 profit to ₹3.24 crore, this is a sharp reversal. The fixed scoring system caps the rating, but the underlying numbers point to a business that has, at least temporarily, lost its revenue base.

Questions answered

Why did Radhe Developers' revenue drop to zero in Q1?: The company reported nil revenue from operations for Q1 FY27, compared to ₹6.15 crore in Q1 FY26. The filing does not provide a reason; a project completion gap or lack of new sales could be the cause.
What is the auditor's gratuity qualification?: S Parth & Co noted that Radhe Developers has not made a provision for gratuity as required under Ind AS 19. This is a departure from accounting standards and may indicate a liability omission.
How does this compare to Radhe Developers' trailing performance?: On a trailing basis, revenue had already fallen 42.9% and PAT 95.3%. The Q1 performance accelerates that decline: from a profit of ₹3.88 crore in Q1 FY26 to a loss of ₹1.20 crore.
What is the scale of this loss relative to the company's market cap?: With a market cap of ₹95 crore, a single-quarter loss of ₹1.20 crore represents about 1.3% of market cap, which is material for a firm of this size.

Mentioned: S Parth & Co · ₹3.88 cr profit swing · ₹6.15 cr revenue vanished

Primary source BSE · NSE · Tijori

An independent reading of the company's own disclosure — the primary filing above is the final word.

Company snapshot

Radhe Developers (India) Ltd.

Real Estate

₹88 cr

Latest quarter · Jun 2026

Sales₹0 cr

Net profit−₹1 cr

Op. margin+0.0%

EPS−₹0.02

Strength & growth

Debt / equity0.58×

Current ratio0.97×

Sales CAGR−3.9%

EPS CAGR−2.1%

Story so far

All notes on RADHEDE →

17 Jul 2026 · 3:59 PM IST Radhe Developers' revenue vanishes, swings to Q1 loss
today Radhe Developers' office flooded, damaging data and records
64d ago Radhe Developers' FY26 results: a formal repeat of prior disclosure
64d ago Radhe Developers profit jumps to ₹3.24 crore on 45% revenue growth