Are Emami Realty Ltd latest results good or bad?

Emami Realty Ltd's latest financial results for Q3 FY26 indicate significant operational challenges. The company reported a net profit loss of ₹37.28 crores, which reflects a sequential decline of 4.90% from the previous quarter and a dramatic year-on-year increase in losses of 91.47%. Revenue for the quarter collapsed to ₹4.89 crores, marking a 46.67% decrease compared to the prior quarter and a staggering 91.45% drop from the same period last year. This performance highlights the company's struggle to execute projects effectively and generate sales in a competitive real estate market. The operating profit before depreciation, interest, tax, and other income (PBDIT) was also negative, with a loss of ₹26.50 crores, resulting in an operating margin of -541.92%. This represents a significant deterioration from the previous quarter's performance. The company's financial position is further complicated by a negative book value of ₹161.72 crores, indicating that liabilities exceed assets, which raises concerns about its financial viability. In terms of market perception, Emami Realty has seen an adjustment in its evaluation, reflecting the ongoing operational distress and negative financial trends. The lack of institutional investor participation and the company's position as a micro-cap with high risk further emphasize the challenges it faces. Overall, the results underscore a critical situation for Emami Realty, characterized by severe revenue decline, persistent losses, and significant operational hurdles that need to be addressed for any potential recovery.