Aditya Birla Real Estate Limited has announced significant changes in its key managerial personnel, with the appointment of Keyur Shah as Chief Financial Officer and the retirement of Snehal Shah. The Board of Directors approved these changes during their meeting held on January 28, 2026, following recommendations from the Nomination and Remuneration Committee and Audit Committee.

Leadership Transition Details

The company has structured a smooth transition between the outgoing and incoming CFOs. The following table outlines the key timeline and details:

Snehal Shah's retirement is part of the company's superannuation policy, and the organization has expressed deep appreciation for his valuable contributions during his tenure as CFO.

New CFO Profile and Experience

Keyur Shah brings extensive experience to his new role, having previously served as CFO of Birla Estates Private Limited (BEPL), a wholly owned subsidiary of Aditya Birla Real Estate Limited, since May 15, 2023. His professional background includes:

Career Highlights

• Total Experience: Over 30 years in professional roles
• Previous Organization: HDFC (joined August 2005)
• Last Position at HDFC: MD and CEO of HDFC Property Ventures Limited
• Additional Role: Non-Executive Director of HDFC Education & Development Services Ltd
• Earlier Experience: KPMG and Castrol India Ltd

Expertise Areas

Keyur Shah has worked extensively in Real Estate Investment Services as a business leader, developing deep understanding and ability to represent organizational interests to various external stakeholders including:

• Investors and JV partners
• Government and regulatory bodies on policy matters
• Various constituents of the investor community

Professional Achievements

Shah has demonstrated a successful track record in several key areas that align with Aditya Birla Real Estate's strategic objectives:

Regulatory Compliance

The appointment has been made in compliance with Regulations 30 & 51 of Securities and Exchange Board of India (Listing Obligations & Disclosure Requirements) Regulations, 2015, and SEBI Circular SEBI/HO/CFD/PoDZ/CIR/P/0155 dated November 11, 2024. The company has informed both BSE Limited and National Stock Exchange of India Limited about these changes in key managerial personnel.

The transition reflects Aditya Birla Real Estate's commitment to maintaining strong financial leadership while ensuring continuity in its operations and strategic initiatives.

Aditya Birla Real Estate has reported its Q3 consolidated financial results, showing a significant increase in net losses compared to the same period in the previous year. The real estate company's performance during the quarter reflects the ongoing challenges faced by the sector.

Financial Performance Overview

The company's Q3 consolidated results show a marked deterioration in financial performance on a year-on-year basis. The net loss figures indicate substantial pressure on the company's bottom line during this reporting period.

Year-on-Year Analysis

The comparison between the current Q3 results and the corresponding quarter of the previous year reveals a concerning trend for Aditya Birla Real Estate. The net loss has increased from ₹406 million to ₹730 million, representing a significant expansion in losses. This increase of ₹324 million in absolute terms translates to approximately 79.80% higher losses year-on-year.

Quarterly Results Impact

The Q3 consolidated results highlight the financial challenges currently facing the company. The widening loss margin suggests that the company continues to grapple with operational and market-related pressures that are impacting its profitability. The substantial increase in net losses indicates that the company's efforts to improve its financial position during this quarter were not successful.

The reported figures represent the consolidated performance, which includes the overall business operations and subsidiaries of Aditya Birla Real Estate. This comprehensive view of the company's financial health provides stakeholders with insight into the current state of the organization's performance across its various business segments.