Date: 16th October 2026

Board Meeting Outcomes

The Board of Directors at its meeting held on Friday, 16th October 2026 considered and approved the following:

  • Reclassification of Madhukar Housing and Development Company ('Madhukar') from 'Promoter/Promoter Group' category to 'Public' category
  • Approval is subject to the approval of BSE Limited and National Stock Exchange of India Limited
  • The reclassification is based on the recommendation of the Stakeholders Relationship Committee

Reclassification Details

Background: This is a continuation of the intimation dated 7th October 2026 regarding receipt of request from Madhukar Housing and Development Company, an entity belonging to the 'Promoter/Promoter Group' that holds nil equity shares/voting rights of the Company.

Compliance Status: The Board noted that Madhukar has complied with the requisite conditions of reclassification as required under Regulation 31A of the SEBI Listing Regulations and would continue to satisfy the requisite conditions post-approval.

Impact Assessment: The reclassification will have:

  • No impact on the operations of the Company, financial or otherwise
  • No impact on the existing shareholding structure including public shareholders
  • Promoter/Promoter Group will continue to hold 1,83,36,36,385 equity shares, representing 74.08% of the Company's paid-up equity share capital post-reclassification

Next Steps: Detailed application will be submitted to the Stock Exchanges within the stipulated timelines.

Authorization Details

The Board authorized the following individuals (collectively referred as 'Authorized Signatories') to undertake necessary actions:

  • Mr. Ashok Kumar Tyagi, Managing Director
  • Mr. Badal Bagri, Group Chief Financial Officer
  • Mr. R.P. Punjani, Company Secretary

Powers granted to Authorized Signatories:

  • Finalize the application to be made to Stock Exchanges including any modifications
  • Submit the application with the Stock Exchanges
  • Appoint advisors, consultants and other experts including fixing their scope of work and remuneration
  • Provide necessary clarifications to Stock Exchanges or any other concerned authorities
  • Undertake all such other acts, deeds, things and matters as may be required to give effect to the Resolution

Additional Authorities:

  • Stakeholders Relationship Committee authorized to solve any difficulties that may arise, with prior Board approval required for material changes
  • The authorization remains valid as long as the signatories are employed/associated with the Company or its group companies unless revoked earlier

Meeting Logistics

  • Meeting commenced at 14.00 Hrs and concluded at 15.45 Hrs on 16th October 2026
  • Certified true copy of the Board Resolution enclosed with the disclosure