Popular Foundations Limited has announced significant board restructuring following its meeting held on March 23, 2026. The company disclosed several key appointments and resignations in compliance with SEBI regulations, marking important changes in its leadership structure and governance framework.

Director Resignation and New Appointment

The board accepted the resignation of Shri D H Gopalakrishnan (DIN: 01297853) from his position as Independent Director, effective immediately from March 23, 2026. In his resignation letter dated February 26, 2026, Gopalakrishnan cited personal commitments and his inability to devote maximum time to the company's interests as reasons for his departure. The board acknowledged his valuable contributions during his tenure and confirmed there are no material reasons for his resignation other than those stated.

Simultaneously, the board appointed Ms. Umaa Sharvani (DIN: 10566378) as Additional Independent Director for a five-year term effective March 23, 2026. Ms. Sharvani brings 10 years of experience in Finance and Accounts, Auditing, and Taxation as a Chartered Accountant. Her appointment is subject to shareholder approval at the ensuing General Meeting.

Chief Financial Officer Appointment

The board appointed Mr. N Chellappa as Chief Financial Officer, effective March 23, 2026. The appointment was recommended by the Nomination and Remuneration Committee and approved by the Audit Committee. Mr. Chellappa is a fellow member of the Institute of Cost and Management Accountants of India with over 35 years of experience in corporate finance and accounts.

Committee Restructuring

Following these changes, the company reconstituted its key committees with immediate effect. The restructured committees reflect the new board composition and ensure proper governance oversight.

Regulatory Compliance and Meeting Details

The board meeting commenced at 5:00 PM and concluded at 5:55 PM on March 23, 2026. All decisions were made in compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company has provided all requisite disclosures and confirmations as required by regulatory guidelines, including detailed annexures for each appointment and resignation as mandated by SEBI circulars.

Popular Foundations Limited has announced the receipt of a new construction order worth ₹13.51 crores from Ms. Eversendai Construction Private Limited. The company disclosed this development through a regulatory filing under Regulation 30 of SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.

Order Details

The construction project involves building a Service Block at DLF Downtown, Taramani. This domestic order represents a significant addition to the company's order book and demonstrates continued business growth in the infrastructure development sector.

Regulatory Compliance

The company has confirmed that this order does not fall within related party transactions and has been awarded by a domestic entity. Popular Foundations Limited has also disclosed that neither the promoter, promoter group, nor group companies have any interest in Eversendai Construction Private Limited, the entity that awarded the contract.

Corporate Governance

The disclosure was made in compliance with SEBI regulations and circular requirements, ensuring transparency in material contract announcements. The company secretary and compliance officer, Soniya Sharma, signed the regulatory filing, confirming adherence to listing obligations.

This order addition strengthens Popular Foundations Limited's position in the construction and infrastructure development sector, particularly in the Chennai and surrounding regions where the company maintains its operational base.