Arihant Superstructures Limited (ASL) has initiated a postal ballot to seek shareholder approval for several significant corporate actions, including the appointment of a new independent director and changes in its auditing and share registry services.

Key Proposals

1. Appointment of New Independent Director ASL proposes to appoint Ms. Sheetal Bhilkar as a Non-Executive Independent Director for a five-year term, from October 9, 2025, to October 8, 2030. Ms. Bhilkar brings over 30 years of experience in the construction and engineering industry, offering valuable expertise to the company's board.

2. Change in Registrar and Share Transfer Agent The company plans to appoint KFin Technologies Limited as its new Registrar and Share Transfer Agent (RTA), replacing Adroit Corporate Services Private Limited. This move aims to enhance the quality and efficiency of investor services.

3. Appointment of New Statutory Auditors Following the resignation of M/s. Ummed Jain & Co., ASL proposes to appoint M/s. K J K & Associates as the new Statutory Auditors to fill the casual vacancy. The proposed remuneration for the new auditors is set at Rs. 10,00,000 plus applicable taxes and reimbursements.

Voting Process

• The e-voting period for these resolutions will run from November 24, 2025, to December 23, 2025.
• Shareholders can cast their votes electronically through the National Securities Depository Limited (NSDL) e-voting system.
• The results of the postal ballot will be declared within two working days of the voting closure.

About Ms. Sheetal Bhilkar

Ms. Bhilkar's appointment as an Independent Director brings significant industry experience to ASL's board:

• Founder, Director & CEO of Urja Building Services Consultants Pvt. Ltd.
• Bachelor's degree in Electrical Engineering and education from IIM Bangalore
• Founder of the Real Woman Global Community and The Real Woman Awards
• Former VP of NAREDCO Mahi
• Recipient of multiple industry recognitions, including the Women Super Achiever Award

Implications for Shareholders

These proposed changes reflect Arihant Superstructures' efforts to strengthen its corporate governance and operational efficiency. Shareholders are encouraged to review the detailed postal ballot notice and cast their votes before the deadline.

The outcome of this postal ballot could significantly impact ASL's future direction, particularly in terms of board composition, financial reporting, and shareholder services. Investors should carefully consider these proposals and their potential effects on the company's governance and performance.

Arihant Superstructures Limited (ASL), a prominent real estate developer in the Mumbai Metropolitan Region (MMR) and Jodhpur, has announced its financial results for the second quarter of fiscal year 2026, showcasing resilience in the face of challenging weather conditions.

Financial Highlights

For Q2 FY26, ASL reported:

• Operating revenue of INR 1,227.00 million, up 9.7% year-over-year (YoY)
• EBITDA of INR 299.00 million, with a margin of 24.37%
• Profit After Tax (PAT) of INR 100.00 million, representing an 8.15% PAT margin
• Earnings Per Share (EPS) of INR 1.41

The company's performance was impacted by heavy and extended monsoons during the quarter, which slowed project execution and affected earnings.

Operational Performance

Despite the weather-related challenges, ASL demonstrated strong sales performance:

• Pre-sales reached INR 2,358.00 million
• 280 units sold, covering 289,036 square feet of area
• Collections totaled INR 1,110.00 million during the quarter

Project Updates

ASL continues to expand its portfolio and make progress on existing projects:

• Acquired 5 acres of additional land at Chowk Manival for the Town Villas project
• Received occupancy certificate for Arihant Amisha Phase 2, covering 134 units
• Obtained environmental clearance for World Villas, Anaika, and Arihant Avanti Palace projects

Corporate Actions

The company has also undertaken several significant corporate actions:

1. Change in Statutory Auditors: The Board has appointed M/s K J K & Associates (FRN: 112159W) as the new Statutory Auditors, replacing M/s. Ummed Jain & Co.

2. New Registrar and Share Transfer Agent: KFin Technologies Limited has been appointed as the new RTA, replacing Adroit Corporate Services Private Limited.

3. Committee Reconstitution: The Board has reconstituted various committees, including the Audit Committee, Nomination & Remuneration Committee, and Stakeholder Relationship Committee.

4. Stock Split Consideration: The Board has deferred the agenda item regarding a potential stock split/sub-division of equity shares, pending further analysis and reports from proxy advisory firms.

Market Position

ASL maintains a strong presence in the MMR real estate market:

• 19 ongoing projects across MMR and Jodhpur
• Gross development value of INR 125,000.00 million
• 75% of projects located within 10 to 30 minutes from the upcoming Navi Mumbai International Airport

Management Commentary

Ashok Chhajer, Chairman and Managing Director of ASL, commented on the results: "With the Navi Mumbai International Airport getting set for commercial flight operations in December 2025, we are already witnessing a shift of demand towards Navi Mumbai, especially the micro-markets closer to the Airport. Despite flat sales in Mumbai MMR in the last 6 months, Navi Mumbai was a bright spot with its market share increasing to 18% from 13% YoY."

He added, "The heavy & extended monsoons this quarter slowed down the execution of projects which reflected a tepid Q2 earnings. However, our Gross Development Value (GDV) remains a strong indicator of future revenue potential."

As Arihant Superstructures navigates through these challenges, the company remains focused on its diverse project portfolio and strategic land acquisitions, positioning itself for potential growth as market conditions improve.