Eraaya Lifespaces Reports Unaudited Financial Results for Nine Months Ended December 31, 2025

Eraaya Lifespaces Reports Unaudited Financial Results for Nine Months Ended December 31, 2025​

Eraaya Lifespaces Ltd. today released its unaudited financial results for the quarter and nine months ended December 31, 2025. The financials cover both standalone and consolidated performance, detailing the company's operations, including the integration of assets following the acquisition of Ebix Inc. (USA) and its global subsidiaries.

The Group's operating segments are identified as Financial Technologies and IT services, Foreign Exchange, Money Transfer and Payment services, Travel Services, and Other.

Financial Highlights (Amounts in Rs. Millions)​

The unaudited financial results for the nine months ended December 31, 2025, show the following key figures for the Group:


The consolidated financial results incorporate the financial outcomes of Ebix Inc. and 49 step-down subsidiaries.

Key Corporate Transactions and Restatements​

The Group completed the acquisition of Ebix Inc. and its global subsidiaries through successful bids approved by the debtors and plan sponsor as part of the Chapter 11 proceedings under the supervision of the Dallas Court in the United States.

During the first quarter ended June 30, 2025, the consolidated results required restatement due to the transfer of investments in a subsidiary. As part of a consortium led by Eraaya Lifespaces Limited (ELL), Vikas Lifecare Limited (VLL) contributed INR 2,977.27 million (equivalent to US$ 34.83 million) towards the acquisition. Subsequently, an addendum agreement dated August 16, 2024, entitled VLL to receive 51% equity shares of Ebix International Holdings Limited (EIHL) in the event of non-repayment by ELL. Following the conclusion of arbitration proceedings for the quarter ended June 30, 2025, 51% of EIHL equity shares were transferred to VLL.

Auditor Observations and Qualified Findings​

The independent auditors issued a qualified conclusion concerning the financial results.

Regarding the Standalone Financial Results:
The auditors noted that the company entered into material related party transactions, such as inter-corporate deposits and other transactions, during the nine months ended December 31, 2025. As required by the regulations, prior shareholder approval is necessary for these material related party transactions. The auditors stated they were unable to determine the impact or compliance with applicable regulatory requirements due to the pending shareholder approval for these transactions.

Regarding the Consolidated Financial Results:
The auditors observed that the aggregate value of related party transactions with the Holding Company, Eraaya Lifespaces Limited, exceeded the materiality threshold prescribed for related party transactions. Furthermore, the requisite prior shareholder approval for these transactions has not been obtained as of the date of approval.

Funding and Legal Matters​

The acquisition of Ebix Inc. required Eraaya Lifespaces Limited to issue 9.50% Senior Secured Foreign Currency Convertible Bonds (FCCBs) aggregating USD 120 million. These Bonds mature on August 25, 2031, with USD 40 million outstanding amount pending recovery. This amount is disclosed as a receivable and considered good, pending ongoing legal proceedings before the High Court of Justice, King's Bench Division.

Additionally, the auditors highlighted that the National Company Law Tribunal (NCLT) passed an interim order on February 13, 2025, directing the Company to maintain status quo with respect to all transactions emanating from the Offering Circular, leading the Company to defer provisioning for liabilities arising from the FCCBs.

The financial reports also contain emphasis of matter regarding the ongoing legal proceeding initiated by Bull Value Incorporated VCC Sub-Fund before the Hon'ble Commercial Court, Dwarka, Delhi. This lawsuit challenges corporate actions, including the Rights Issue and the transfer of management control of Ebix Travels Private Limited, and the matter is presently sub-judice with a court order directing the parties to maintain status quo.

Stock Price Movement​

Eraaya Lifespaces Ltd closed Wednesday's session, settling at ₹29.51, marking a decline of 4.96% for shares. Throughout the day, the stock fluctuated, testing a range between an intraday low of ₹29.50 and a high of ₹31.00.