Popular Estate Management Limited , an infrastructure segment company, has released its unaudited financial results for the quarter and half-year ended September 30, 2025, revealing a net loss and increased borrowings.

Financial Performance

The company reported a net loss before tax of Rs 17.12 lakhs for the period. Despite the loss, there were some positive movements in the company's financial position:

All figures in Rs lakhs

Contingent Liabilities

Popular Estate Management faces significant contingent liabilities amounting to Rs 2,216.69 lakhs related to income tax claims. The management is currently contesting these claims through appellate processes, which adds an element of financial uncertainty to the company's outlook.

Business Operations

The company operates exclusively in the infrastructure segment. Popular Estate Management has substantial interests in two associated partnership firms, although these firms currently have no operations.

Corporate Governance

The company's board of directors met on November 10, 2025, to approve these unaudited financial results. The meeting, which commenced at 2:00 p.m. and concluded at 3:10 p.m., was held at the company's registered office in Ahmedabad, Gujarat.

Auditor's Review

H. S. Jani & Associates, the company's statutory auditors, conducted a limited review of the financial results. Their report, based on the Standard on Review Engagements (SRE) 2410, found no material misstatements in the financial disclosures.

While the company faces challenges with its current loss and contingent liabilities, the increase in cash and cash equivalents could provide some financial flexibility. Investors and stakeholders will likely be watching closely to see how Popular Estate Management addresses these financial challenges and leverages its infrastructure segment focus in the coming quarters.

Popular Estate Management , a company listed on the Bombay Stock Exchange (BSE: POPULARES), has made several key announcements following its board meeting held on September 4, 2025. The company has approved significant appointments and set the date for its upcoming Annual General Meeting (AGM).

Board Appointments and Re-appointments

The board has approved the re-appointment of Mrs. Saritaben Natwarbhai Patel as a director, subject to shareholder approval at the AGM. Mrs. Patel, who is liable to retire by rotation, brings over 25 years of experience in the business industry to her role. She holds 29,100 equity shares in the company and is related to other board members as the wife of Late Shri Natwarbhai B Patel and aunt of Mr. Vikram C Patel and Het D Patel.

In a move to strengthen its independent oversight, the company has confirmed the appointment of three new independent directors, subject to shareholder approval:

1. Mr. Shaishav Kaushik Shah: With over 10 years of experience in the chemical trading industry, Mr. Shah brings valuable expertise to the board.

2. Mr. Jignesh Shirish Vasavada: A communication strategist with experience in reputation management, narrative and brand building, and media optimization.

3. Mr. Vishalkumar Rameshbhai Patel: Bringing more than 10 years of experience in the chemical business to his role.

Auditor Appointments

The board has approved the re-appointment of M/s. H. S. Jani & Associates as Statutory Auditors. The firm, led by CA Hersh Samir Jani, has over 19 years of experience in auditing, taxation, and company law compliances.

Additionally, M/s. Sejal Shah & Associates has been appointed as Secretarial Auditors. The firm, headed by CS Sejal Jain, brings more than 6 years of experience in corporate and securities law.

Annual General Meeting

Popular Estate Management Limited has scheduled its 31st Annual General Meeting for September 30, 2025, at 2:30 p.m. IST. The meeting will be held through video conferencing or other audio-visual means, in accordance with relevant circulars issued by the Ministry of Corporate Affairs and the Securities and Exchange Board of India.

Key dates for shareholders to note:

• Cut-off date for voting eligibility: September 23, 2025
• Book closure period: September 24-30, 2025 (both days inclusive)

Other Board Decisions

The board has also:

• Approved the Director's Report and Secretarial Audit Report for FY 2024-25
• Appointed Mrs. Saritaben Natwarbhai Patel as chairperson of board meetings
• Approved related party transactions, subject to shareholder approval
• Appointed M/s. Krishna Patel & Co., Practicing Company Secretary, as Scrutinizer for the 31st AGM

These decisions reflect Popular Estate Management Limited's commitment to corporate governance and its efforts to strengthen its leadership team. Shareholders will have the opportunity to vote on these matters at the upcoming AGM.