Narendra Properties Approves Related Party Transaction and Appoints New Company Secretary

Narendra Properties Limited , a Chennai-based real estate company, has made significant corporate announcements that could impact its operations and governance structure. The company's Board of Directors has approved a related party transaction and appointed a new Company Secretary and Compliance Officer.

Related Party Transaction Approved

The Board of Directors, in their meeting held on November 11, 2025, approved a related party transaction involving the leasing of property to Ankur Foundations Private Limited. This decision came after receiving approval from the Audit Committee. The transaction details are as follows:

Aspect	Details
Related Party	Ankur Foundations Private Limited
Nature of Relationship	Entity in which Director(s) are interested
Transaction Type	Letting out property on rent/lease
Duration	Up to 3 years
Value	Rs. 50,000.00 per month (subject to adjustments within prescribed limits under the Companies Act, 2013)

The company has stated that any adjustments to the rental amount will be made within the overall limits prescribed under the Companies Act, 2013.

New Company Secretary Appointed

In the same board meeting, Mr. Rishabh Haran (Membership No. ACS-78284) was appointed as the Company Secretary and Compliance Officer of Narendra Properties Limited. The appointment is effective from November 11, 2025. Mr. Haran is an Associate Member of the Institute of Company Secretaries of India and holds a degree in B.Com (General).

Key Managerial Personnel for Disclosures

The Board has authorized the following Key Managerial Personnel to determine the materiality of events and make disclosures to the stock exchange:

Mr. Chirag N Maher, Managing Director
Mr. Rishabh Haran, Company Secretary and Compliance Officer (w.e.f. 11.11.2025)

Financial Performance

While the company has released its unaudited financial results for the quarter ended September 30, 2025, the focus of this announcement was on the corporate actions rather than financial performance. Investors and stakeholders are advised to refer to the detailed financial statements for a comprehensive understanding of the company's financial position.

These corporate actions demonstrate Narendra Properties Limited's commitment to transparency in related party transactions and strengthening its corporate governance structure. The appointment of a new Company Secretary is expected to enhance the company's compliance and regulatory affairs management.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-9.17%	-3.71%	-13.30%	-12.43%	-15.33%	+336.56%

Narendra Properties Limited , a real estate company based in Chennai, has disclosed a significant sale transaction at its NPL Grand Melody project. The company reported the sale of a single residential dwelling unit for ₹362.64 lakhs on October 31, 2025, as per a regulatory filing to the Bombay Stock Exchange.

Transaction Details

The sale represents a substantial portion of the company's annual turnover, prompting the disclosure under SEBI regulations. Here's a breakdown of the key details:

Particulars	Details
Transaction Date	October 31, 2025
Property Sold	1 Residential Dwelling Unit (Flat)
Project Location	NPL Grand Melody, 10, Woods Road, Royapettah, Chennai 600 014
Sale Value	₹362.64 lakhs
Company's Total Income (FY 2024-25)	₹902.27 lakhs
Transaction as % of Total Income	40.19%

Significance of the Transaction

The sale is noteworthy for several reasons:

Financial Impact: The transaction value of ₹362.64 lakhs represents 40.19% of Narendra Properties' total income for the financial year ended March 31, 2025.
Disclosure Requirement: The sale triggered the disclosure requirement as it exceeded 2% of the company's turnover as per the last audited financial statements.
Ordinary Course of Business: The company confirmed that the transaction occurred in the ordinary course of business.
Non-Related Party Transaction: Narendra Properties stated that this was not a related party transaction, indicating an arm's length deal.

Market Implications

While the sale represents a significant portion of the company's annual turnover, it's important to note that such transactions are part of the normal operations for real estate developers. The disclosure provides transparency to shareholders and the market about the company's ongoing business activities.

Investors and market analysts may view this sale positively as it demonstrates the company's ability to close high-value transactions in its residential projects. However, it's crucial to consider this sale in the context of the company's overall financial performance and the broader real estate market conditions in Chennai.

As the real estate sector continues to evolve, particularly in metropolitan areas like Chennai, such transactions offer insights into the market's dynamics and the demand for residential properties in prime locations.

Narendra Properties Limited's shares are listed on the Bombay Stock Exchange. Investors are advised to consider this information along with other financial and market data when making investment decisions.