Popular Estate Management has appointed Alpesh J. Shah as its Internal Auditor for the fiscal year 2027, effective July 27, 2026. The Board of Directors approved the appointment during a meeting held at the company’s registered office in Ahmedabad, aiming to strengthen the firm’s internal control framework and ensure robust regulatory compliance for the upcoming financial year.

The decision was taken pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, along with SEBI Circular SEBI/HO/CFD/CFD-POD-1/P/CIR/2023/123 dated July 13, 2023. The Board meeting commenced at 2:00 p.m. and concluded at 2:30 p.m. on July 27, 2026. Director Vikram Chhaganlal Patel signed the disclosure submitted to BSE Limited.

Appointment Details

The appointment replaces the previous internal audit arrangement, marking a fresh start for the fiscal year 2027-28 (referred to as FY26-27 in the filing). There is no disclosed relationship between Mr. Shah and the existing directors, ensuring independent oversight.

Candidate Profile

Alpesh J. Shah brings more than 35 years of extensive experience to the role. His expertise spans internal audit procedures, regulatory compliance, financial reporting, and taxation. This background aligns with the company’s need for rigorous financial oversight and adherence to listing norms.

What the Numbers Show

While this appointment does not involve immediate financial metrics, it signals Popular Estate Management’s commitment to governance. The selection of an auditor with three decades of experience suggests a focus on stability and deep regulatory knowledge rather than cost-cutting or junior-level staffing. Investors may view this as a positive step toward enhancing transparency in financial reporting.

Popular Estate Management Limited has submitted its integrated filing for the quarter and year ended March 31, 2026, pursuant to SEBI Circular No. SEBI/HO/CFD/CFD-PoD-2/CIR/P/2024/185. The standalone audited financial results were reviewed by the Audit Committee and approved by the Board of Directors at their meeting held on May 9, 2026. The statutory auditor, H.S. Jani & Associates (FRN: 127515W), conducted an audit of the annual results and a limited review of the quarterly results, concluding that the financial statements present a true and fair view in conformity with Indian Accounting Standards.

Quarterly Financial Performance

For the quarter ended March 31, 2026, the company reported zero revenue from operations, compared to Rs. 46.58 lakhs in the corresponding quarter of the previous year. Popular Estate Management recorded a net loss of Rs. 6.99 lakhs for Q4FY26, widening from the net loss of Rs. 5.11 lakhs in the preceding quarter ended December 31, 2025. In Q4FY25, the company had posted a net profit of Rs. 20.24 lakhs.

The table below summarises the key quarterly financial metrics:

Full-Year Financial Performance

For the full year ended March 31, 2026, Popular Estate Management reported total income from operations of nil, compared to Rs. 46.58 lakhs in FY25. The company recorded a net loss of Rs. 29.22 lakhs for FY26, an improvement over the net loss of Rs. 35.51 lakhs reported in the previous year. The total comprehensive income for the year stood at a loss of Rs. 29.22 lakhs.

The table below presents the full-year financial comparison:

Capital Structure and Disclosures

The equity share capital remained unchanged at Rs. 1,400.02 lakhs, comprising 14,000,200 shares of Rs. 10 each. Reserves and surplus, excluding revaluation reserves, were reported as nil. The company confirmed there were no defaults on loans and debt securities during the quarter. The disclosure of related party transactions and the statement on the impact of audit qualifications were submitted in XBRL mode.

Subsequently, pursuant to Regulation 33(3)(d) of SEBI (LODR) Regulations, 2015, Popular Estate Management filed a declaration with BSE on May 16, 2026, confirming that H.S. Jani & Associates issued an audit report with unmodified opinion in respect of the standalone financial results for the quarter and year ended March 31, 2026. The declaration was signed by Vikram Patel, Director (DIN: 00166707), who also serves as Manager and CFO of the company.