Crest Ventures Limited (CVL) has taken a significant step in expanding its real estate portfolio by signing a Memorandum of Understanding (MoU) with Vensco Projects LLP for a joint development project in Chembur, Mumbai. The announcement outlines plans for an ambitious development spanning approximately 11,000 square meters of amalgamated land.

Project Details

The proposed development, referred to as the 'Chembur Project', is set to be executed under the Development Control and Promotion Regulations (DCPR) 2034, including applicable SRA (Slum Rehabilitation Authority) Regulations. This strategic move by Crest Ventures signals the company's intent to capitalize on Mumbai's real estate landscape.

Key Points of the Agreement

Future Steps and Implications

The MoU represents a preliminary understanding between Crest Ventures and Vensco Projects. As stated in the company's disclosure, the agreement is subject to the execution of definitive agreements and receipt of necessary approvals. Crest Ventures has indicated that it may undertake this project either directly or through a subsidiary or affiliate.

This move aligns with Crest Ventures' strategy to expand its presence in the real estate sector, potentially enhancing its market position and creating value for shareholders. The Chembur area, known for its strategic location and ongoing infrastructure developments, could prove to be a lucrative choice for this joint venture.

Investors and market watchers will be keen to observe how this project unfolds and its potential impact on Crest Ventures' financial performance in the coming quarters. The company has committed to keeping the exchanges informed of further material developments regarding this project.

As the real estate market in Mumbai continues to evolve, particularly with the implementation of DCPR 2034, this joint development initiative could position Crest Ventures favorably in the competitive landscape of urban development projects.

Crest Ventures Limited , a prominent player in the financial services sector, has announced a significant addition to its board of directors. The company has appointed Jagdish Mohan Kirpalani as an Additional Director in the Non-Executive and Independent category, effective from November 1, 2025. This appointment, subject to shareholder approval, is for an initial term of five consecutive years.

Key Appointment Details

Professional Background

Kirpalani brings a wealth of experience to Crest Ventures, with nearly four decades of leadership across various financial sectors. His expertise spans:

• Private banking
• Wealth management
• Operational transformation
• Governance

Throughout his career, Kirpalani has held senior roles at several prestigious financial institutions, including:

• Standard Chartered Bank
• Barclays Bank
• Societe Generale
• ING Bank

Appointment Process and Governance

The appointment of Jagdish Mohan Kirpalani was approved by Crest Ventures' board on October 30, 2025, following a recommendation from the Nomination and Remuneration Committee. This decision aligns with the company's commitment to strong corporate governance and bringing diverse expertise to its leadership.

Expected Contributions

Kirpalani's extensive background is expected to add significant value to Crest Ventures in several areas:

• Enhancing the company's private banking and wealth management strategies
• Strengthening risk management and compliance frameworks
• Providing insights for potential multi-country technology integrations
• Contributing to the overall governance structure of the company

Additional Information

The company has confirmed that Jagdish Mohan Kirpalani is not related to any other directors on the board. Furthermore, he is not debarred from holding a directorship position by any regulatory authority, ensuring compliance with all relevant regulations.

This strategic appointment underscores Crest Ventures' commitment to enhancing its leadership team with experienced professionals, potentially positioning the company for growth and improved governance in the dynamic financial services landscape.