Indiabulls Enterprises Limited has informed the Exchange regarding Appointment of Mr Riyaz Javed Khan as Whole-time Director and Key Managerial Personnel, designated as Executive Director of the Company, for a period of 5 years, with effect from July 25, 2025, liable to retire by rotation.
Awaiting price reaction for this filing.
Indiabulls Enterprises' board, at its July 25, 2025 meeting, approved unaudited Q1 FY26 (quarter ended June 30, 2025) results and announced leadership changes. On a consolidated basis, the company posted a net loss of Rs 5.73 crores on total income of Rs 15.48 crores, a sharp improvement from the Rs 119.12 crore loss in the preceding quarter, but still a YoY decline from Rs 13.42 crores revenue in Q1 FY25. Mr. Vijay Kumar Agrawal stepped down as Whole-time Director and KMP citing personal reasons, and Mr. Riyaz Javed Khan (aged ~41, 14 years with Indiabulls Group, 20 years in infrastructure/asset management) was recommended as his replacement for a 5-year term, subject to shareholder approval. The board also recommended M/s. Sukesh & Co. as Secretarial Auditor for FY 2025-26 to FY 2027-28. The next NCLT hearing on the proposed amalgamation with Dhani Services and Yaari Digital is scheduled for August 7, 2025.
The Q1 loss narrowed materially versus the previous quarter, but the company remains in the red with weak revenues, so the results are unlikely to drive a positive re-rating. The director swap looks like a routine internal transition and the pending NCLT scheme remains the bigger near-term catalyst for shareholders.