Indiabulls Enterprises Limited (IEL) has announced significant changes in its leadership and approved its financial results for the first quarter of the fiscal year 2025-26. The company's Board of Directors made these decisions during a meeting held on July 25, 2025.

Financial Results Approval

The Board approved the unaudited standalone and consolidated financial results for the quarter ended June 30, 2025. These results, along with Limited Review Reports issued by M/s Agarwal Prakash & Co., Chartered Accountants, the company's Statutory Auditors, will be published in newspapers as per regulatory requirements.

Leadership Changes

New Executive Director Appointment

In a key leadership change, the Board has recommended the appointment of Mr. Riyaz Javed Khan as a Whole-time Director and Key Managerial Personnel, designated as Executive Director. Mr. Khan's appointment, subject to shareholder approval at the upcoming 7th Annual General Meeting, will be for a period of five years, effective July 25, 2025.

Mr. Khan, aged 41, brings a wealth of experience to his new role:

• Mechanical Engineer with a Diploma in HVAC
• 20 years of experience in managing high-value infrastructure and industrial assets
• 14 years of diverse roles within the Indiabulls Group
• Expertise in leading cross-functional teams for turnkey solutions in project planning, plant & machinery operations, and facility management services

It's worth noting that Mr. Khan does not hold any shares in the company and is not related to any other Director of Indiabulls Enterprises Limited.

Resignation of Previous Executive Director

Mr. Vijay Kumar Agrawal, the previous Whole-Time Director & Key Managerial Personnel designated as Executive Director, has resigned from the Board due to personal reasons, effective July 25, 2025.

Appointment of Secretarial Auditor

The Board has also recommended the appointment of M/s. Sukesh & Co., Practicing Company Secretaries, as the Secretarial Auditor of Indiabulls Enterprises Limited. This appointment, pending shareholder approval, will be for a period of three years, covering fiscal years 2025-26 to 2027-28.

M/s. Sukesh & Co. brings to the table:

• Rich industry experience in Corporate Laws, Foreign Exchange Laws, FEMA matters, EXIM Policies, SEBI Regulations, and Non-Banking Finance matters
• Expertise in Compliance Audit and Secretarial Audit
• A network of connections with reputed Chartered Accountants and Legal professionals

These changes and approvals reflect Indiabulls Enterprises Limited's commitment to maintaining strong corporate governance and adapting to evolving business needs. Shareholders will have the opportunity to vote on these recommendations at the upcoming Annual General Meeting.

Indiabulls Enterprises Limited (BSE: 543715) has reported a significant achievement in its real estate division, marking a strong start to the year 2025. The company has announced remarkable sales figures for its latest luxury residential project, 'Indiabulls Estate & Club-I', located in Sector 104, Gurugram.

Record-Breaking Sales

In a filing to the stock exchanges on February 19, 2025, Indiabulls Enterprises revealed that it has sold 195 units in the Indiabulls Estate & Club project, surpassing a value of ₹1,000 crores. What makes this achievement particularly noteworthy is the short timeframe in which these sales were accomplished – just 30 days since the project's launch on January 14, 2025.

Project Overview

The Indiabulls Estate & Club project is an ambitious venture spread across 24 acres. Strategically positioned on the Dwarka Expressway in Gurugram, the development offers excellent connectivity to key business hubs in Gurugram and the broader Delhi-NCR region.

Luxury Living and Strategic Location

According to the company's disclosure, the project's success can be attributed to several factors:

1. Prime Location: Its position on the Dwarka Expressway provides residents with easy access to major business centers.
2. Green Living: The development places a strong emphasis on environmentally friendly living spaces.
3. High-End Amenities: The project boasts luxury features that cater to discerning homebuyers.

These elements collectively position Indiabulls Estate & Club as a significant player in Gurugram's evolving luxury housing segment.

Market Implications

The rapid sales of this project indicate robust demand for high-quality residential properties in the National Capital Region. It also suggests that Indiabulls Enterprises has successfully tapped into the preferences of luxury home buyers, despite the typically slower pace of high-value real estate transactions.

This sales milestone not only demonstrates the company's strong performance in the real estate sector but also points to a potentially positive outlook for premium residential projects in strategic locations.

Conclusion

As the real estate market continues to evolve, Indiabulls Enterprises' success with this project may set a benchmark for luxury residential developments in the region. Investors and market watchers will likely keep a close eye on the company's future projects and their reception in the market.

Note: Investors are advised to conduct their own research and consult financial experts before making investment decisions based on this news.