prime property development corp has appointed Nandkumar Anant Chaugule as an Additional Director in the category of Non-Executive Independent Director, effective July 25, 2026. The Board of Directors approved the appointment during a meeting held on the same date, marking a strategic addition to the company’s governance structure with a candidate possessing extensive public service experience. This move strengthens the board’s independence and oversight capabilities.

The appointment is subject to ratification by shareholders at the ensuing Annual General Meeting. If approved, Chaugule will serve for a period of five consecutive years. In compliance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, read with SEBI Circular No. SEBI/HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026, the company disclosed the details of the appointment to the Bombay Stock Exchange Limited.

Chaugule brings over 38 years of distinguished service in law enforcement to the role. Aged 70, his career includes tenures as Deputy Commissioner of Police (HQ) in Nashik, Additional Commissioner of Police for Administration and Traffic in Navi Mumbai, and Additional Commissioner of Police in Thane and for the State of Maharashtra. He also served with the Bomb Detection and Disposal Squad of the Mumbai Police.

His professional record includes significant commendations, such as the President Police Medal for Meritorious Service and the Director General of Police Insignia for Meritorious Service. Additionally, he has received 380 Commendatory Notes and 45 Appreciation Letters during his career.

Director Profile Details

Governance Compliance

The company confirmed that Nandkumar Anant Chaugule is not related to any existing directors of Prime Property Development Corporation Limited. Furthermore, he is not debarred from holding the office of director by virtue of any SEBI order or any other authority, as required under BSE Circular LIST/COMP/14/2018-19 and NSE Circular CML/2018/24 dated June 20, 2018.

The Board meeting commenced at 2:00 P.M. and concluded at 2:30 P.M. Padamshi L. Soni, Chairman of the company, signed the disclosure filed with the exchange.

Prime Property Development Corporation Limited reported a 56% year-on-year increase in standalone net profit for the financial year ended March 31, 2026, reaching ₹338.84 lakh compared to ₹217.43 lakh in the previous year. The company's board approved the audited standalone and consolidated financial results for the quarter and year ended March 31, 2026, during a meeting held on May 30, 2026. The statutory auditors, M/s. Vora & Associates, provided an unmodified opinion on the financial statements.

Financial Performance

The standalone total income for FY26 stood at ₹699.92 lakh, up from ₹475.04 lakh in FY25. For the quarter ended March 31, 2026, the company reported a net profit of ₹46.31 lakh. On a consolidated basis, the company reported a net profit of ₹2,471.59 lakh for FY26, a significant turnaround from the previous year's ₹269.39 lakh. Consolidated revenue for the year surged to ₹8,217.67 lakh, driven by revenue from operations of ₹7,542.00 lakh.

Governance and Appointments

The board approved the appointment of Ms. Ranjhana J Sahani as the Internal Auditor for the financial year 2026-27, effective May 30, 2026. Ms. Sahani is a postgraduate in commerce with experience in accounts, audit, and risk management. The meeting also reviewed the Statement of Assets and Liabilities and the Cash Flow Statement, which showed a net increase in cash and cash equivalents of ₹407.00 lakh for the standalone entity and ₹1,637.68 lakh on a consolidated basis.