Changes in Directorate as approved by the members at the 30th Annual General Meeting of the Company held on September 25, 2025.
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At the 30th Annual General Meeting held on September 25, 2025, shareholders approved three key board changes. Shri Narayanan Narasimhan was re-appointed as a Non-Executive Director and given approval to continue as Chairman even though he is over 75 years of age. Mr. Arvind Varchaswi N was appointed as the new Managing Director of the company. Mrs. Darshna Patel, a Vadodara-based architect with over four decades of experience at Everest Construction, was appointed as an Independent Director for a 5-year term. The company confirmed that Mrs. Patel is not related to any existing director and has not been barred from holding directorship by SEBI or any other authority.
These changes point to leadership continuity, with the existing Chairman retained and a full-time Managing Director formally put in place alongside a fresh Independent Director. For shareholders, the move signals stable governance heading into the new financial year, though the re-appointment of a Chairman above 75 years is a point worth noting as it required specific shareholder approval.