Meeting Details

The 31st AGM was conducted on Tuesday, September 29, 2026, commencing at 9:00 AM through Video Conferencing (VC) and Other Audio-Visual Means (OAVM). Central Depository Services Limited (CDSL) served as the Technology Service Provider. The meeting concluded at approximately 9:26 AM.

Attendance

Directors, KMPs & Auditors Present through VC:

  • Mr. Mahendra K Maher (Chairman & Non-Independent Director)
  • Mr. Chirag N Maher (Managing Director)
  • Mrs. Kavita Patel (Independent Director)
  • Mr. Narendra Kumar Lunawath (Independent Director)
  • Mr. Aravind Kumar Ayush Jain (Independent Director)
  • Mr. Nishank Sakariya (Non-Independent Director)
  • Mr. Jitesh D Maher (Chief Financial Officer)
  • Mr. Rishabh Haran (Company Secretary & Compliance Officer)
  • CA. Jainendar P (Statutory Auditors - M/s Sanjiv Shah & Associates LLP)
  • Ms. Sneha Jain (Secretarial Auditor - M/s Sneha Jain & Associates)

Members Present: 23 members attended through video conferencing as per CDSL's Venue Attendance Report.

Quorum & Notice

The Chairman confirmed adequate quorum was present based on CDSL's report. The notice convening the AGM dated August 11, 2026, along with the annual report for FY 2025-26, was circulated electronically to members and hosted on the company's website and BSE Ltd's website. Required newspaper advertisements were made.

Shareholder Queries and Suggestions

Four registered shareholders (Mr. Manjit Singh, Mr. Abhishek J, Mr. A. V. Mani Sundaram, and Jaichand) raised several queries and suggestions:

  • Requested management to reduce other expenses, legal/professional charges, audit fees, and overall expenditure.
  • Suggested regular investor conference calls, quarterly presentations, and meetings to improve communication.
  • Requested online access to statutory documents (Register of Members, KMP Register) via NSDL/CDSL platforms.
  • Recommended future AGMs be conducted in hybrid mode to accommodate senior citizens and shareholders with digital access challenges.
  • Sought clarification on measures to improve EPS, profitability, and shareholder returns.
  • Appreciated consistent dividends but requested higher dividends, special dividend, and consideration of bonus/rights issue.
  • Sought details of future projects, expansion plans, ongoing investments, competitive strategy, and growth prospects.
  • Requested details of projects undertaken during 2025-26.
  • Sought clarification on the proposed authorization under Section 186 of Companies Act, 2013 (loans, investments, guarantees, security), including its rationale and intended future.
  • Sought clarification on the increase in non-controlling interest and EPS, and corresponding shareholder benefits.
  • Enquired about current employee strength and utilization/benefits of artificial intelligence in operations.
  • Requested an interactive virtual platform for AGM.
  • Appreciated the annual report, corporate governance practices, CSR initiatives, and accessibility of management.
  • Requested reinstatement of hospitality arrangements during hybrid AGMs.

Chairman's Response

  • Management is cautious about negotiating and committing to new ventures.
  • Highlighted this is the 4th consecutive year of dividend declaration.
  • Regarding new projects and investments, management is cautiously looking at signing up certain projects in the pipeline.
  • For 2025-26, the NPL Grand Melody Project was successfully completed with all apartments sold out (revenue details available in annual report).
  • Regarding hybrid AGMs, the Board will follow BSE & SEBI Regulations.
  • Queries received via email prior to the meeting were replied to and addressed via email.

Voting Process

Electronic voting was conducted via CDSL's www.evotingindia.com, closing on September 28, 2026, at 5:00 PM. Members not voting electronically could use venue voting during the AGM. The scrutinizer submitted the report on September 30, 2026. Results were declared on September 30, 2026, and communicated to BSE Ltd and uploaded on the company website (www.narendraproperties.com).

Resolution Results

1. Adoption of Financial Statements (Ordinary Resolution)

  • Result: Passed with requisite majority
  • Voted in favor: 58 members, 5,982,066 votes (99.43% of valid votes)
  • Voted against: 7 members, 34,055 votes (0.57% of valid votes)
  • Invalid votes: Nil

2. Declaration of Dividend (Ordinary Resolution)

  • Dividend: Re. 1/- (10%) per equity share of ₹10 each fully paid up for FY ended March 31, 2026.
  • Result: Passed with requisite majority
  • Voted in favor: 58 members, 5,982,066 votes (99.43% of valid votes)
  • Voted against: 7 members, 34,055 votes (0.57% of valid votes)
  • Invalid votes: Nil

3. Re-appointment of Mr. Nishank Sakariya (DIN: 02254929) as Director (Ordinary Resolution)

  • Result: Passed with requisite majority
  • Voted in favor: 58 members, 5,982,066 votes (99.43% of valid votes)
  • Voted against: 7 members, 34,055 votes (0.57% of valid votes)
  • Invalid votes: Nil

4. Re-appointment of Ms. Kavita Patel (DIN: 09433199) as Independent Director (Special Resolution)

  • Term: 5 years from December 27, 2026, to December 26, 2031.
  • Result: Passed with requisite majority
  • Voted in favor: 58 members, 5,982,066 votes (99.43% of valid votes)
  • Voted against: 7 members, 34,055 votes (0.57% of valid votes)
  • Invalid votes: Nil

5. Payment of Remuneration to Mr. Nishank Sakariya (Special Resolution)

  • Remuneration: Not exceeding ₹2,50,000 per month as consultant for the period January 1, 2027, to December 31, 2027.
  • Result: Passed with requisite majority
  • Voted in favor: 93 members, 3,374,266 votes (99.00% of valid votes)
  • Voted against: 7 members, 34,055 votes (1.00% of valid votes)
  • Invalid votes: 5 members, 2,607,800 votes

6. Authorization under Section 186 of Companies Act, 2013 (Special Resolution)

  • Purpose: To make loans, give guarantees/provide security, and acquire securities of other body corporates.
  • Limit: Aggregate sum of ₹50,00,00,000 (Fifty Crores).
  • Result: Passed with requisite majority
  • Voted in favor: 57 members, 5,180,966 votes (99.35% of valid votes)
  • Voted against: 7 members, 34,055 votes (0.65% of valid votes)
  • Invalid votes: Not quantified in disclosure

Conclusion

The meeting concluded with a vote of thanks to the Chair at 9:26 AM on September 29, 2026. The minutes were certified by the Chairman of the Meeting, Mahendra K Maher (DIN: 00078348), on October 12, 2026, in Chennai.