Shristi Infrastructure Development Corporation Limited concluded its 36th Annual General Meeting (AGM) on September 29, 2026, with all three ordinary resolutions passed by a substantial majority. The meeting was conducted via Video Conferencing and Other Audio Visual Means in compliance with Ministry of Corporate Affairs and SEBI guidelines.

The voting results indicate strong shareholder alignment, with 99.97% of votes cast in favour across all agenda items. Only 7,012 votes were recorded against the resolutions, representing a negligible fraction of the total valid votes polled.

Voting participation and attendance

The company reported a total of 4,809 shareholders on the record date. Participation through the electronic voting system included two promoter group members and 38 public shareholders attending via video conferencing. No shareholders attended in person or through proxy.

Resolution outcomes

All three items of business transacted at the AGM were approved as Ordinary Resolutions. The specific outcomes are detailed below:

What the numbers show

A distinct pattern emerges in the voting data regarding the concentration of power and dissent. Promoter and Promoter Group members held 1,66,33,459 shares, accounting for the vast majority of the total outstanding shares of 2,22,00,000. These shares were voted entirely in favour of all resolutions, contributing to the high approval percentages.

Conversely, the Public Non-Institutional category held 55,66,541 shares but polled only 46,28,102 votes. Within this subset, the entire volume of dissenting votes (7,012) originated exclusively from public non-institutional shareholders. This indicates that while institutional investors did not participate or vote against, minor dissent was isolated within the retail shareholder base, which represents approximately 25% of the total shareholding but contributed less than 0.04% of the total votes cast in opposition.

Shristi Infrastructure Development Corporation Limited reported a standalone net loss before tax of ₹17.34 crore for FY26, a significant increase from ₹9.65 crore in the previous year. The widening deficit was attributed to delays in project implementation caused by pending statutory approvals and legal and financial challenges.

The company’s consolidated net loss before tax stood at ₹17.35 crore for FY26, compared to ₹9.61 crore in FY25. Despite the financial setbacks, Shristi Infrastructure recorded a standalone and consolidated turnover of ₹69.76 crore during the fiscal year ended March 31, 2026.

Project updates and operational status

The Chairman provided an update on the company’s ongoing real estate developments, highlighting progress at key township projects:

• Shristi Nagar, Guwahati: Construction of villas, plots, and apartments in the first phase is complete. Work continues on affordable housing and Lake Chalets. The integrated township includes planned facilities such as a school, hospital, shopping mall, hotel, resort, and club.
• Shristi Nagar, Asansol: Developed through an associate company, this project features lifestyle apartments, group housing, plots, townhouses, bungalows, and row housing. A new project named "Royal Avenue" has recently been launched here.
• Other Projects: Development activities are underway at Rajarhat and Krishna Nagar, with plans to explore new projects across the country.

Auditor qualifications and AGM outcomes

The Statutory Auditors issued a qualified opinion on both the standalone and consolidated financial statements for FY26. The specific qualifications were read out by the auditors, with the Chairman providing explanations to the members present.

The 36th Annual General Meeting was held via video conferencing on September 29, 2026. All three resolutions proposed by the Board were passed by members through remote e-voting and Insta Poll:

1. Adoption of audited standalone and consolidated financial statements for FY26.
2. Re-appointment of Sunil Jha as Director retiring by rotation.
3. Ratification of remuneration payable to cost auditors M/s. D. Radhakrishnan & Co.

What the numbers show

A divergence between revenue stability and profit deterioration highlights operational inefficiencies. While turnover remained steady at ₹69.76 crore, the pre-tax loss nearly doubled year-over-year. This suggests that fixed costs or exceptional charges related to the disclosed legal and financial issues outweighed any potential margin improvements from completed construction phases.