Change in Directorate
Price
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Awaiting price reaction for this filing.
At the 38th AGM on September 30, 2025, shareholders approved several key changes. Mr. Kavya Arora (son of former Chairman and Managing Director Sanjeev Arora) was appointed as Managing Director, and Ms. Ketki Gupta (daughter of Sanjeev Arora) was appointed as Joint Managing Director, both for 3-year terms starting August 14, 2025. The previous CMD Sanjeev Arora had resigned in August 2025 after being appointed as a Cabinet Minister. New statutory auditor M/s HDSG & Associates (replacing Khandelwal Jain & Co whose 5-year term ended) and new secretarial auditor MZ & Associates were also appointed for 5-year terms. Additionally, the company amended its main objects clause to expand into the hospitality industry covering hotels, resorts, tourism, and travel businesses.
Leadership has transitioned to the promoter's children, showing clear family succession in management. The amendment signals a strategic pivot from pure realty into the hospitality sector, which could open new growth avenues but also raises concentration of family control at the top. For investors, this is a meaningful change in both leadership and business direction worth monitoring.