Excel Realty N Infra Limited has announced its financial results for the quarter ended December 31, 2025, alongside significant board-level appointments that mark a strategic governance restructuring for the Mumbai-based real estate and infrastructure company.

Financial Performance Overview

The company's standalone financial performance for Q3FY26 showed a marked decline compared to the previous year. Excel Realty reported a net loss of ₹26.66 lacs for the quarter, a significant reversal from the net profit of ₹148.82 lacs recorded in Q3FY25.

The dramatic decline in operational income, which fell to zero from ₹510.39 lacs in the previous year, indicates a significant reduction in the company's core business activities during the quarter. However, the company maintained some revenue through other income sources totaling ₹176.72 lacs.

Nine-Month Performance Analysis

Despite the challenging third quarter, Excel Realty's nine-month performance for FY26 remained in positive territory. The company reported a standalone net profit of ₹110.88 lacs for the nine months ended December 31, 2025, compared to ₹324.17 lacs in the corresponding period of FY25.

Board Restructuring and New Appointments

In a significant governance development, the Board of Directors approved the appointment of three new Additional Non-Executive Independent Directors, all subject to shareholder approval:

Key Appointments

Mr. Arihant Bhansali (DIN: 11508218) brings over 10 years of experience as an Account and Compliance Manager, with expertise in managing finance and regulatory compliance for high-turnover organizations. A qualified Company Secretary from ICSI (2014), he has experience with organizations having turnover exceeding ₹470 crores and currently serves as Company Secretary at Web Element Solutions Limited.

Ms. Daksha Nag (DIN: 11405929) is an LLB graduate with diversified experience across legal practice, corporate compliance, and professional content development. She has hands-on exposure to NCLT proceedings and experience in corporate compliance, including annual filings, XBRL filings, and legal documentation.

Ms. Hema Sadnani (DIN: 08505179) holds a postgraduate degree in Arts from the University of Rajasthan and brings expertise in strategic marketing communication and content creation. She currently serves as Director at Uzma Solutions Private Limited and has experience in campaign strategy development and brand management.

Committee Reconstitution

Alongside the new appointments, the Board approved the reconstitution of three critical committees:

• Audit Committee
• Nomination and Remuneration Committee
• Stakeholder Relationship Committee

All three new directors have been confirmed as not being debarred from holding directorial positions by SEBI or any other regulatory authority, and none hold any shareholding in the company.

Segment Performance and Trading Window

The company's segment-wise analysis revealed varied performance across its business verticals, with Infrastructure Activity and Trading Activity showing mixed results. The Board meeting, which commenced at 4:00 PM and concluded at 6:10 PM on January 29, 2026, also announced that the trading window for designated persons would reopen from February 1, 2026, following the completion of financial result disclosures.

The financial results have been prepared in accordance with Indian Accounting Standards (Ind AS) and have been reviewed by the Audit Committee before Board approval. The company's paid-up equity share capital remains unchanged at ₹14,106.95 lacs with a face value of ₹1 each.

Excel Realty N Infra Limited has successfully concluded its postal ballot process, with shareholders demonstrating overwhelming support for all 11 proposed resolutions. The company announced the results on January 23, 2026, following the completion of e-voting through Central Depository Services (India) Limited (CDSL) platform.

Postal Ballot Process and Timeline

The postal ballot process was conducted in accordance with Section 110 of the Companies Act, 2013, and Regulation 44 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company dispatched postal ballot notices electronically on December 23, 2025, to shareholders whose names appeared in the register of members as of the cut-off date of December 19, 2025.

Board Restructuring and Leadership Changes

Shareholders approved significant changes to the company's board composition and leadership structure. The resolutions included the appointment of Mr. Garvit Agarwal (DIN: 08560082) as Whole Time Director, which received 99.97% approval from 366 members casting 266,607,586 votes in favor.

Ms. Runel Saxena (DIN: 10424170) was appointed as Non-Executive Independent Director with 99.98% approval from 376 members. The board also approved the re-designation of Mr. Ankit Mehra (DIN: 07669838) from Whole-Time Director to Managing Director, receiving 99.99% support.

Corporate Restructuring Initiatives

The company secured approval for fundamental corporate changes, including an increase in authorized share capital and consequent alteration to the capital clause of the memorandum of association. This resolution received support from 382 members, with 266,554,329 votes cast in favor, representing 99.95% approval.

Shareholders also approved the amendment to the object clause of the memorandum of association, with 377 members casting 266,563,166 votes in favor (99.95% approval). Additionally, the company name change resolution and consequent alterations to the name clause received overwhelming support with 99.95% approval.

Financial and Investment Approvals

The postal ballot addressed several financial matters crucial for the company's growth strategy. Shareholders approved the creation of mortgage or charge on company assets under Section 180(1)(A) of the Companies Act, with 365 members casting 266,313,461 votes in favor (99.86% approval).

The increase in borrowing limits under Section 180(1)(C) of the Companies Act received 99.95% approval, while resolutions regarding investment limits for Non-Resident Indians and Foreign Institutional Investors both secured 99.97% approval rates.

Scrutinizer Report and Compliance

NVB & Associates, appointed as scrutinizers for the postal ballot process, confirmed that all procedural requirements were met. The scrutinizer verified e-voting data after CDSL disabled the e-voting module and unblocked electronic votes in the presence of two witnesses not employed by the company. No invalid votes were recorded for any of the 11 resolutions, demonstrating the integrity of the voting process.

The successful completion of this postal ballot positions Excel Realty N Infra Limited for its next phase of growth, with enhanced capital structure, strengthened board composition, and expanded financial flexibility to pursue strategic initiatives.