Prime Urban Development India News

Prime Urban Development Q3FY26 Loss Widens

Prime Urban Development India Limited reported a net loss of ₹15.89 lakhs for Q3FY26 ended December 31, 2025, compared to ₹3.24 lakhs loss in Q3FY25. Company appointed Kishor Khadelwal as CFO.

Prime Urban Development Reports Mixed Quarterly Performance with Ongoing Legal Dispute

Prime Urban Development India Limited reported a net profit of Rs. 33.49 lakhs for the quarter ended September 30, 2025, compared to a loss of Rs. 18.33 lakhs in the previous quarter, with total income of Rs. 84.67 lakhs. The company faces an ongoing arbitration case regarding Rs. 13.30 crores received from Prime Mall Developers in 2007, which remains classified as current liabilities pending legal resolution.

Prime Urban Development Receives Arbitrator Appointment for Partnership Dispute

Prime Urban Development India Limited announced that Justice R. Subramanian, Former Judge of the High Court, Madras, has been appointed as arbitrator in a dispute between partners of Prime Mall Developers. The company holds a 50% partnership stake in Prime Mall Developers. The arbitrator appointment was made through an order by the Madras High Court dated September 22, 2025, with the company receiving notice on November 4, 2025. The company had previously filed an application for arbitrator appointment on July 23, 2025.

Prime Urban Development India Reports Mixed Quarterly Results and Proposes Business Expansion

Prime Urban Development India Limited's Board approved standalone and consolidated unaudited financial results for the quarter ended June 30, 2025. The company reported standalone revenue from operations of Rs 345.00 lakhs compared to Rs 337.52 lakhs in the previous quarter, with a net loss after tax of Rs 43.30 lakhs versus a profit of Rs 132.36 lakhs in the prior quarter. On a consolidated basis, revenue increased to Rs 358.76 lakhs from Rs 345.00 lakhs, while the company posted a net loss of Rs 45.00 lakhs compared to a profit of Rs 124.94 lakhs previously. The Board also approved alterations to the company's main object clause in the Memorandum of Association to expand into trading, importing, exporting, and securities dealing businesses, subject to shareholder approval at the upcoming Annual General Meeting. The company operates in the reality business segment and has ongoing arbitration proceedings related to a Rs 13.30 crores dispute with Prime Mall Developers.

Prime Urban Development Seeks Rs 13.30 Crore Refund Through Arbitration

Prime Urban Development India Limited has filed for arbitrator appointment at Madras High Court to claim Rs 13.30 crore plus interest from Biodegradable Products India Limited and Indraneel Properties Limited. The claim relates to refund of advanced amounts following cancellation of a construction agreement between Prime Mall Developers and Reliance Prolific Traders Private Limited. Prime Urban Development holds a 50% partnership in Prime Mall Developers, while the opposing parties are also partners in the same entity.