Meeting Details

Type of Meeting: Postal Ballot through remote e-voting

Cut-off Date: Friday, 24th July, 2026

E-voting Commencement: Saturday, 1st August, 2026 at 09:00 A.M.

E-voting End: Sunday, 30th August, 2026 at 05:00 P.M.

Results Declaration: On or before Tuesday, 1st September, 2026

Mode of Approval: E-voting only

Scrutinizer: Mr. Vijay Yadav of M/s. AVS & Associates

Summary of Proposed Resolutions

Item No. 1: Ordinary Resolution - Material Related Party Transactions

Seeks omnibus approval for RPTs up to ₹1,000 Crores with 20 related parties including Sumit Borivali Developers LLP, Sumit Luxe Ventures LLP, Tanvi Gems Private Limited, and SUNSUMIT VENTURE LLP. Transactions include sale/purchase of goods/services, loans, investments, borrowings, guarantees, and project advances. The materiality threshold is ₹9.48 crore (10% of company's consolidated turnover of ₹94.88 crore as of March 31, 2026).

Financial Ratios (Company Level):

  • Debt to Equity Ratio: 0.53 times (before transaction)
  • Debt Service Coverage Ratio: 0.67 times (before transaction)

Item No. 2: Special Resolution - Remuneration of Mr. Bhushan Nemlekar

Position: Chief Financial Officer & Whole-time Director (DIN: 00043824)

Remuneration: ₹3,00,00,000 per annum (no change from previous)

Tenure: From 26th May, 2023 to 25th May, 2028

Experience: 18 years with the company, Commerce graduate with Executive MBA from Harvard Business School

Shareholding: 55,39,880 equity shares

Item No. 3: Special Resolution - Remuneration of Mr. Mitaram Jangid

Position: Managing Director (DIN: 00043757)

Remuneration: ₹3,50,00,000 per annum (no change from previous)

Tenure: From 26th May, 2023 to 25th May, 2028

Experience: 40+ years in construction industry, Commerce graduate

Shareholding: 1,06,74,974 equity shares

Company Financial Performance

| Particulars | FY 2025-26 (₹ lakhs) | FY 2024-25 (₹ lakhs) | FY 2023-24 (₹ lakhs) |

| Operational Income | 9,654.08 | 9,911.32 | 6,657.71 |

| Profit before Depreciation & Tax | 1,407.59 | 1,747.10 | 540.42 |

| Profit after Tax | 949.44 | 1,325.12 | 508.34 |

Voting Process and Methods

The company has appointed National Securities Depository Limited (NSDL) as the agency for providing remote e-voting facility. Members holding shares either in physical or dematerialized form as on the cut-off date (24th July, 2026) are eligible to vote. The postal ballot notice is being sent only through electronic mode to members whose email addresses are registered.

Compliance Statements

The notice confirms compliance with all relevant regulations including:

  • Section 110 of the Companies Act, 2013
  • Companies (Management and Administration) Rules, 2014
  • SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
  • MCA General Circular Nos. 14/2020, 17/2020, and 09/2024
  • SEBI Circulars on e-voting requirements
  • Secretarial Standard on General Meetings (SS-2)

The Audit Committee has reviewed the RPT proposals and the Board of Directors recommends the proposals for shareholder approval. All transactions will be on arm's length basis to facilitate business operations and real estate development activities.

Important Dates

  • Notice Date: 28th May, 2026
  • Dispatch Completion: 31st July, 2026
  • Cut-off Date: 24th July, 2026
  • E-voting Period: 1st August to 30th August, 2026
  • Results Declaration: On or before 1st September, 2026