Bajel Projects Limited has informed the Exchange regarding Appointment of Ms. Pooja Bajaj as Non- Executive, Non-Independent Director of the company w.e.f. May 27, 2026.
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Bajel Projects Limited held its Board meeting on May 27, 2026, approving several key items. Financially, the company reported standalone profit of Rs. 2,893.33 lakhs and consolidated profit of Rs. 2,076.67 lakhs for FY26, with standalone revenue of Rs. 28,828.17 lakhs. Auditors issued unmodified opinions on both standalone and consolidated results. The Board recommended a final dividend of Rs. 0.60 per share (30% payout) for shareholder approval at the 4th AGM on August 7, 2026, with record date July 31, 2026. The company seeks shareholder approval to increase borrowing limits from Rs. 3,500 crore to Rs. 5,000 crore. In leadership changes, Mr. Ajay Nagle stepped down as Company Secretary & Chief Compliance Officer (continues as Executive Director till August 31, 2026), replaced by Ms. Amee Joshi. Mrs. Pooja Bajaj (DIN: 08254455) was appointed as Additional Non-Executive Non-Independent Director, subject to shareholder approval. Note: The company has Rs. 8,596 lakhs in arbitration proceedings for outstanding customer balances.
The appointment of Mrs. Pooja Bajaj and dividend recommendation are positive signals for shareholders. However, the substantial increase in borrowing limits raises future debt obligations to monitor. The arbitration proceedings for Rs. 8,596 lakhs in outstanding receivables represent a contingent risk.