Dugar Housing Developments Limited, a prominent player in the real estate sector, has announced a significant shake-up in its board composition. Four directors, including key positions, have tendered their resignations, citing personal reasons and professional commitments.

Board Resignations

The company disclosed that the following directors have stepped down from their positions:

Reasons for Resignation

According to the company's filing under Regulation 30 of the SEBI LODR Regulations, all four directors cited 'personal reasons and pre-occupation' as the primary factors behind their decision to step down. The Board of Directors accepted these resignations on November 14, 2025, with the departures taking effect from the close of business hours on the same day.

Additional Disclosures

As per SEBI regulations, the company has provided additional information regarding the resignations of the independent directors:

• Each resigning independent director has confirmed that there are no material reasons for their resignation other than those mentioned in their respective resignation letters.
• Among the departing directors, Suresh Rajasekar holds a directorship in IYKOT HITECH TOOLROOM LIMITED, while Tikamchand Rakhi and Zakir Hussain Munavar do not hold directorships in any other listed entities.

Impact on Corporate Governance

The simultaneous departure of four directors, including three independent directors, represents a significant change in the company's governance structure. This development may lead to a temporary leadership vacuum and could potentially impact the company's decision-making processes in the short term.

Next Steps

The company has not yet announced any immediate replacements. Dugar Housing Developments Limited may need to work on filling these crucial board positions to ensure continuity in its corporate governance and strategic direction.

Investors and stakeholders will likely be watching closely to see how the company manages this transition and who will be appointed to these key roles in the coming weeks.

Dugar Housing Developments Limited , a Chennai-based company, has announced its unaudited financial results for the quarter ended September 30, 2025, revealing a shift from profit to loss compared to the same period last year.

Financial Performance

The company reported a loss of Rs 4.96 crore for the quarter, a stark contrast to the profit of Rs 27.89 crore recorded in the corresponding quarter of the previous year. For the half-year period, the loss widened to Rs 18.31 crore, compared to a profit of Rs 23.41 crore in the same period last year.

Revenue and Expenses

Dugar Housing's total revenue for the quarter stood at Rs 8.80 crore, consisting entirely of other income with no revenue from operations. The company's expenses were primarily driven by:

• Employee benefit expenses: Rs 4.56 crore
• Other expenses: Rs 9.20 crore

Key Financial Metrics

All figures in Rs crore, except EPS

Significant Capital Structure Change

A notable development in the company's financial structure is the substantial increase in its equity share capital, which rose to Rs 970 crore from Rs 30 crore in the previous year. This significant boost in equity capital may indicate strategic moves by the company, possibly to strengthen its financial position or fund future growth initiatives.

Balance Sheet Highlights

As of September 30, 2025, Dugar Housing reported:

• Total assets: Rs 1,149.62 crore (up from Rs 24.98 crore on March 31, 2025)
• Total equity: Rs 1,022.76 crore (compared to a negative Rs 86.93 crore on March 31, 2025)
• Current liabilities: Rs 115.09 crore (up from Rs 100.14 crore)

The dramatic increase in total assets is primarily due to a significant rise in other bank balances, which stood at Rs 1,099.43 crore as of September 30, 2025.

Cash Flow Analysis

The cash flow statement reveals:

• Net cash outflow from operating activities: Rs 24.91 crore
• Net cash outflow from investing activities: Rs 1,090.67 crore (mainly due to investment in fixed deposits)
• Net cash inflow from financing activities: Rs 1,139.14 crore (largely from proceeds of share application money/share capital)

These financial results were approved by the company's Board of Directors in their meeting held on November 5, 2025. The independent auditor's review report, conducted by M Sahu & Co., Chartered Accountants, found no material misstatement in the financial results.