Prestige Estates AGM: All 7 resolutions pass, including ₹2 dividend
- All seven AGM resolutions passed, including ₹2 dividend and NCD issue
- Promoters held 262.5 million shares and voted 100% in favour of all items
- Dividend resolution received 99.99% support with only 130 votes against
- Uzma Irfan re-appointed as director and re-designated as WTD with >99% support
- Total shareholders on cut-off date August 13, 2026, stood at 1,80,051
*this image is generated using AI for illustrative purposes only.
Prestige Estates Projects confirmed that all seven resolutions tabled at its 29th Annual General Meeting (AGM) on August 20, 2026, were passed by shareholders. The approvals include the declaration of a ₹2 per share final dividend for FY26 and the issuance of Non-Convertible Debentures (NCDs) via private placement.
The company disclosed the voting results and the scrutinizer’s report dated August 21, 2026. Nagendra D. Rao served as the scrutinizer for the e-voting and poll processes. The total number of shareholders as on the cut-off date of August 13, 2026, was 1,80,051.
Voting Results Overview
The promoter group held 262,500,000 shares, representing approximately 60.9% of the total outstanding shares of 430,730,232. Promoters voted in favour of all resolutions via e-voting with 100% support. Public institutional investors held 158,934,236 shares, while public non-institutional investors held 9,295,996 shares.
Key Resolutions Passed
| Resolution Description | Type | Votes In Favour (%) | Status |
|---|---|---|---|
| Adoption of Audited Standalone Financial Statements for FY26 | Ordinary | 99.58% | Passed |
| Adoption of Audited Consolidated Financial Statements for FY26 | Ordinary | 99.58% | Passed |
| Declaration of final dividend of ₹2 per equity share | Ordinary | 99.99% | Passed |
| Re-appointment of Ms. Uzma Irfan as Director | Ordinary | 99.13% | Passed |
| Ratification of remuneration to Cost Auditor P. Dwibedy & Co. | Ordinary | 99.99% | Passed |
| Re-designation of Ms. Uzma Irfan as Whole Time Director | Special | 99.41% | Passed |
| Issuance of NCDs on a private placement basis | Special | 99.99% | Passed |
Detailed Voting Breakdown
For the resolution to declare the final dividend of ₹2 per fully paid equity share, 39,63,06,048 votes were cast in favour, while only 130 votes were cast against. This represents a 99.99% approval rate among polled votes.
The special resolution to approve the re-designation of Ms. Uzma Irfan as Whole Time Director received 39,39,25,524 votes in favour (99.41%), with 23,56,429 votes against (0.59%). The re-appointment of Ms. Uzma Irfan as Director saw slightly higher opposition, with 34,42,716 votes against (0.87%), though it still passed comfortably with 99.13% support.
The issuance of NCDs through private placement, a special resolution, garnered near-unanimous support with 99.99% of votes in favour (39,63,04,791 votes) against just 512 votes against.
Board and Management Presence
The following directors attended the meeting:
| Name | Designation |
|---|---|
| Irfan Razack | Chairman and Managing Director |
| Rezwan Razack | Joint Managing Director |
| Noaman Razack | Whole Time Director |
| Uzma Irfan | Whole Time Director |
| S N Nagendra | Independent Director & Chairman, Audit Committee |
| Neelam Chhiber | Independent Director |
| T Srikanth Bhagavat | Independent Director |
| Ravindra Munishwar Mehta | Independent Director & Chairman, Nomination and Remuneration Committee |
Chief Financial Officer Amit Mor and Company Secretary Manoj Krishna J V were also in attendance. Statutory Auditors S.R. Batliboi & Associates LLP and Secretarial Auditor Nagendra D. Rao represented their respective firms.
Historical Stock Returns for Prestige Estates Projects
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -0.29% | -2.91% | -3.08% | +17.74% | -0.43% | +257.83% |
How will the proceeds from the private placement of Non-Convertible Debentures (NCDs) be allocated, and will this debt issuance impact the company's leverage ratios or credit rating?
Given the re-designation of Ms. Uzma Irfan as Whole Time Director, what specific strategic initiatives or operational changes is she expected to lead in the upcoming fiscal year?
With a final dividend of ₹2 per share declared for FY26, how does this payout ratio compare to previous years, and does it signal management's confidence in future cash flows?
17
Create Custom Screeners 
Access 200+ Pre-built Filters 
Use 50+ Readymade Screener 
