Narendra Properties Limited has approved related-party transactions to engage its Non-Executive Director and two promoters as consultants, alongside the re-appointment of an Independent Director. The Board of Directors, acting on recommendations from the Audit Committee and the Nomination & Remuneration Committee, authorized these engagements under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The consultancy agreements are effective from January 1, 2027, through December 31, 2027, while the director’s re-appointment begins on December 27, 2026.

The Board authorized specific remuneration structures for the three consultants. Mr. Nishank Sakariya, Non-Executive Director, will receive monthly remuneration not exceeding ₹2,50,000. Mr. Narendra C Maher, Promoter and father of Managing Director Chirag N Maher, and Mr. Narendra Sakariya, Promoter and father of Director Nishank Sakariya, will each receive annual remuneration not exceeding ₹900,000. These fees are subject to Board approval from time to time.

In addition to the consultancy approvals, the Board approved the re-appointment of Ms. Kavita Patel (DIN: 09433199) as an Independent Director for a second consecutive term of five years. Her tenure will run from December 27, 2026, to December 26, 2031. Ms. Patel is not liable to retire by rotation during this term. She holds registration number IDDB-NR-202112-040136 in the Independent Directors Data Bank and has cleared the proficiency test administered by the Indian Institute of Corporate Affairs.

Ms. Patel brings expertise in aesthetic interior design, project conceptualization, financial management, and client acquisition relevant to the construction industry. The disclosure confirms she is not related to any other directors of the company and is not debarred from holding office by SEBI or any other authority.

The Board also authorized investments, loans, and guarantees beyond the limits prescribed under Section 186 of the Companies Act, 2013, up to a sum of ₹50 Crores. Chirag N Maher, Managing Director, and Rishabh Haran, Company Secretary and Compliance Officer, are authorized to determine materiality and make disclosures to stock exchanges pursuant to Regulation 30(5).

Narendra Properties reported a net profit of ₹88.48 lakh for the quarter ended June 30, 2026, rising 14.6% year-on-year from ₹77.21 lakh in Q1FY25. The improvement was driven by an increase in other income, which stood at ₹123.95 lakh compared to ₹80.38 lakh in the prior year period, while revenue from operations remained nil. The Board of Directors approved the unaudited financial results on August 11, 2026, following a review by the statutory auditors, M/s Sanjiv Shah & Associates LLP.

The company’s total income from operations was ₹123.95 lakh, entirely comprising other income, as no operational revenue was recorded. Total expenses amounted to ₹35.53 lakh, down from ₹278.33 lakh in Q1FY25, primarily due to lower cost of materials consumed and changes in inventories. The net profit before tax was ₹88.42 lakh, with a nominal tax benefit of ₹0.06 lakh resulting in the final net profit figure. Earnings per share (basic and diluted) rose to ₹1.25 from ₹1.09 in the corresponding quarter last year.

Financial Performance Overview

The significant decline in total expenses compared to the previous year is attributable to the absence of material costs and inventory changes associated with operational projects, which were present in Q1FY25. In the current quarter, employee benefits expense remained stable at ₹14.47 lakh, while depreciation and amortisation expense increased slightly to ₹2.25 lakh from ₹0.88 lakh in the prior year period.

What the Numbers Show

The financial results highlight a shift in the company’s income composition for Q1FY27. With zero revenue from operations, the entire profit margin is derived from other income sources, such as interest or investment returns. This contrasts with Q1FY25, where operational revenue contributed significantly to the top line, albeit with higher associated costs. The ability to maintain profitability despite nil operational activity suggests strong underlying asset management or investment performance during the quarter.

In addition to the financial results, the Board approved several administrative matters. These include the re-appointment of Mr. Nishank Sakariya as a director liable to retire by rotation and the re-appointment of Ms. Kavita Patel as an Independent Director for a second term from December 27, 2026, to December 26, 2031. The Board also authorized investments, loans, and guarantees up to ₹50 crore under Section 186 of the Companies Act, 2013, subject to shareholder approval. The 31st Annual General Meeting is scheduled for September 29, 2026, with M/s Sneha Jain & Associates appointed as scrutinizers for electronic voting.