Shraddha Prime Projects Ltd

AGM details

• AGM held 28 Sep 2026 at 11:30 AM via VC/OAVM; cut-off for voting 21 Sep 2026.
• Mode: VC/OAVM; deemed venue in Mumbai disclosed.

Key resolutions

• Item 1 Ordinary: Adopt audited financial statements; passed with 1 dissent.
• Item 2 Ordinary: Appoint Santosh Sadashiv Samant as Non-Executive Director (retire by rotation); passed with 1 dissent.
• Item 3 Ordinary: Approve RPT with Shraddha Life Spaces Private Limited; passed with 1 dissent.
• Item 4 Ordinary: Approve RPT with Shraddha Landmark Private Limited; passed with 1 dissent.
• Item 5 Ordinary: Approve RPT with Shree Krishna Rahul Developers; passed with 1 dissent.
• Item 6 Ordinary: Approve RPT with Shraddha Mangalsmruti LLP; passed with 1 dissent.
• Item 7 Ordinary: Ratify remuneration of Cost Auditors; passed with 1 dissent.
• Item 8 Special: Increase in borrowing limits; passed with 1 dissent.
• Item 9 Special: Create charge on assets to secure borrowings up to Rs 5000 crores; passed.

Auditors

• Remuneration of Cost Auditors ratified.

AGM Details

• Date and time: 28 September 2026, 11:30 AM.
• Mode: physical meeting with venue-e-voting and NSDL remote voting.
• Record date: 21 September 2026; shareholders on cut-off: 3205.
• Attendance: Promoter group 1, Public 22 via video; total attendees 23.

Key resolutions

• Adopt audited financial statements for year ended 31 March 2026 (standalone and consolidated) — Passed.
• Re-appointment of director by rotation (DIN: 06586861) — Passed.
• Approve related party transactions with Shraddha Life Spaces Private Limited — Passed.
• Approve related party transactions with Shraddha Landmarks Private Limited — Passed.
• Approve related party transactions with Shraddha Galsmruti LLP — Passed.
• Approve related party transactions with promoter-group entities (annexure details) — Passed.
• Ratify remuneration of Cost Auditors — Passed.
• Increase borrowing limits to ₹5,000 crore — Passed.
• Power to create security/charge on assets to secure borrowings — Special Resolution; Passed.

Meeting Details

• Date: October 01, 2026; time and venue not disclosed.

Key Agenda Items

• Consider and approve the issue price of Equity Shares under the Rights Issue.
• Consider and approve the Rights Issue ratio for existing shareholders.
• Consider and approve the Record Date for eligibility to participate.
• Transact other matters incidental to the Rights Issue as determined by the Board.

Other Notes

• Rights issue subject to applicable laws and regulatory approvals.

AGM details

• Held on 28 September 2026 at 11:30 a.m. via VC/OAVM.
• Concluded at 11:51 a.m., with 15 minutes for venue e-voting.

Key resolutions

• Ordinary: Adopt audited standalone and consolidated financial statements for year ended 31 March 2026.
• Ordinary: Appoint Santosh Sadashiv Samant as Non-Executive Director, retires by rotation.
• Ordinary: Approve material related party transactions with Shraddha Life Spaces Private Limited.
• Ordinary: Approve material related party transactions with Shraddha Landmark Private Limited.
• Ordinary: Approve material related party transactions with Shree Krishna Rahul Developers.
• Ordinary: Approve material related party transactions with ShraddhaMangalsmruti LLP.
• Ordinary: Ratify remuneration of Cost Auditors.
• Special: Increase in borrowing limits of the company.
• Special: Create charge on assets to secure borrowings up to Rs 5,000 crores.

Voting status

• Voting results will be shared separately and uploaded on the company's website.

Director changes

• Appoint Santosh Sadashiv Samant as Non-Executive Director, by rotation.

Related party transactions

• Approve material RPT with Shraddha Life Spaces Private Limited.
• Approve material RPT with Shraddha Landmark Private Limited.
• Approve material RPT with Shree Krishna Rahul Developers.
• Approve material RPT with ShraddhaMangalsmruti LLP.

Auditor matters

• Remuneration of Cost Auditors ratified.

Change of official email

• Official email ID changed from towasurvey@yahoo.co.in to shraddhaprimeprojects@gmail.com with immediate effect.
• All future correspondence and investor grievances directed to the new email ID.

Rights issue in-principle approval

• Shraddha Prime Projects Ltd received BSE in-principle approval for listing of partly paid-up rights shares.
• Approval dated September 22, 2026; subject to post-issue requirements and SEBI and exchange formalities.

Financial snapshot

• Standalone revenue from operations: 32,930.97 lakhs in FY25-26, up from 10,321.94.
• Consolidated revenue from operations: 50,835.41 lakhs in FY25-26.
• Standalone net profit after tax: 5,386.15 lakhs in FY25-26.
• Consolidated net profit after tax: 5,338.79 lakhs in FY25-26.
• Basic EPS (Standalone): ₹13.33; Consolidated EPS: ₹13.21.
• Borrowings (Consolidated total): ₹26,159.32 lakhs.
• Standalone cash balance: ₹2,603.99 lakhs; Consolidated: ₹3,397.69 lakhs.
• Total assets (Standalone): ₹52,479.83 lakhs; Consolidated: ₹69,929.70 lakhs.
• Dividend: No dividend declared for FY25-26.
• Employees: 49 as of 31-Mar-2026.
• Portfolio GDV expanded to ₹2,500 crore; six new projects added in FY26.

Portfolio and projects

• Six new projects added in FY26; combined GDV ~₹900 crore.
• Current GDV portfolio approximately ₹2,500 crore across projects.
• Commencement Certificates received for Shraddha Phoenix and Shraddha Paradise Enclave.
• Development pipeline: 9 ongoing and 8 upcoming projects.
• Avyukta Imperial added in Matunga East, strengthening premium housing focus.
• Redevelopment-led growth strategy; expanding in Mumbai Metropolitan Region.

Debt, funding & capital

• Consolidated borrowings total ₹26,159.32 lakhs; includes current ₹1,079.53 and non-current ₹25,079.79.
• NCDs issued: ₹5,800 lakhs; 20.04% interest; secured by first ranking charge.
• Rights issue proposed up to ₹9,700 lakhs; application with BSE under review.
• Borrowing limits proposed to increase to ₹5,000 crore; security by asset charges contemplated.
• Pledge of promoter shares: 70 lakh shares pledged; enforcement occurred Feb 19, 2026.

Governance & board changes

• Ashok Uttam Chandanshive appointed as Non-Executive Independent Director from 14-Jan-2026; confirmed 18-Feb-2026.
• Ankita Gupta resigned as Non-Executive Independent Director from 14-Feb-2026.
• Vinay Madhukar Nayak appointed as Non-Executive Director from 9-Apr-2026.
• Board met 11 times in FY2025-26; ID meeting on 14-Feb-2026 without non-Independent Directors.
• Audit Committee comprises three Independent Directors; chair Shivangi Datta.

Related party transactions

• Material RPT with Shraddha Life Spaces Private Limited up to ₹140 crore for FY27.
• Material RPT with Shraddha Landmark Private Limited up to ₹120 crore for FY27.
• Material RPT with Shree Krishna Rahul Developers up to ₹100 crore for FY27.
• Material RPT with Shraddha Mangalsmruti LLP up to ₹150 crore for FY27.
• RPTs to be at arm's length and in ordinary course; approvals obtained from Audit Committee.

CSR & ESG highlights

• CSR expenditure for FY25-26: ₹25,00,000; average net profit for CSR: ₹12,31,79,830.
• CSR obligation (2% of average net profit): ₹24,63,597; balance to be spent: ₹4,66.
• CSR spent during year: ₹25,00,000; ongoing projects include Rajasthan educational initiative.
• CSR policy and projects available on company website.

Audit, controls & compliance

• Independent Auditor: Monika Jain & Co; unqualified opinion for standalone and consolidated.
• Internal audit: Milind Deshmukh; conducted for 2025-26.
• Secretarial audit: ND & Associates; Annexure III included.
• Robust internal control framework; governance disclosures up to date.

Shareholding & capital structure

• Promoter holding: Sudhir Balu Mehta at 74.78% (31-Mar-2026).
• Total equity share capital: ₹4,229.37 lakhs; paid-up capital: ₹4,040.10 lakhs.
• Dematerialisation: NSDL 24,66,239; CDSL 3,78,50,061; Physical 84,700 shares.
• Promoter disclosures include reclassification approvals from BSE; promoters reclassified per press.
• Promoter share pledge enforcement in Feb 2026; settlement completed.

Outlook and risks

• FY27 outlook: redevelopment-led growth; premium housing mix rising.
• Development pipeline supports growth across Mumbai and MMR; execution risk remains.
• Risks: rising costs, interest rates, regulatory changes; mitigation via prudent project selection.
• Management focus: timely execution, capital deployment, collections, and market discipline.

AGM Details

• 34th AGM on 28 September 2026 at 11:30 AM via VC/OAVM.
• Register of members closed 22-28 September 2026 (inclusive).
• Remote e-voting from 25 September 2026 09:00 to 27 September 2026 17:00.
• Cut-off date for e-voting eligibility: 21 September 2026.
• Notice and Annual Report sent electronically to members; available on company and exchange websites.

Atharva Ventures Private Limited

• Atharva Ventures Private Limited specializes in residential real estate development in India.
• Incorporated on 22 July 2010.
• Acquisition of 91% equity for up to ₹91,000.
• Not a related party transaction.
• The industry is developing real estate projects.
• Rationale: expand footprint and consolidate real estate assets.
• No governmental approvals required.
• Completion target: on or before 20 August 2026.
• Post-transaction holding: 91% of AVPL.
• Turnover was ₹0 in FY 2022-23 to 2024-25.

Shraddha Life Spaces Private Limited

• Shraddha Life Spaces Private Limited specializes in residential real estate development in India.
• Incorporated on 25 March 2014.
• Turnover was ₹0 in FY 2022-23 to 2024-25.
• Authorized capital ₹10 crore; paid-up ₹9.41 crore.
• Acquisition of 100% equity for ₹10,36,98,200.
• Related party transaction due to promoter's interest.
• Promoter's interest; transaction at arm's length.
• Rationale: expands real estate footprint and consolidates assets.
• No governmental approvals required.
• Completion target: on or before 20 August 2026.
• Background: incorporated 25 March 2014; focuses on residential development.
• Presence: India.