Nexus Select Trust Submits Q3 FY26 Corporate Governance Compliance Report

Nexus Select Trust has submitted its quarterly compliance report on corporate governance for the quarter ended December 31, 2025, to the National Stock Exchange of India Limited and BSE Limited. The submission was made pursuant to Regulation 26E of Securities and Exchange Board of India (Real Estate Investment Trusts) Regulations, 2014, and other applicable circulars.

Board Composition and Leadership Changes

The trust's board of directors underwent significant changes during the reporting period. The board currently comprises nine directors, including four independent directors, ensuring compliance with regulatory requirements.

Position	Director Name	Category	Appointment Date
Chairperson	Mr. Asheesh Mohta	Non-Independent Director	November 4, 2025
Director	Mr. Michael David Holland	Independent Director	August 6, 2022
Director	Mr. Arjun Sharma	Non-Independent Nominee Director	November 8, 2022
Director	Mr. Sadashiv Srinivas Rao	Independent Director	September 8, 2022
Director	Mr. Dalip Charanjit Sehgal	Non-Independent Director	November 8, 2022
Director	Mr. Jayesh Tulsidas Merchant	Independent Director	November 8, 2022
Director	Ms. Alpana Parida	Independent Director	September 20, 2022
Director	Mr. Siddharth Nawal	Non-Independent Director	November 4, 2025

Notably, Mr. Tuhin Arvind Parikh ceased to be the Chairperson and director effective November 4, 2025, with Mr. Asheesh Mohta appointed as the new Chairperson on the same date.

Committee Structure and Governance

The trust maintains four key committees as mandated by SEBI regulations, each with proper composition and regular chairpersons:

Audit Committee: Chaired by Mr. Sadashiv Rao (Independent Director), the committee includes Mr. Jayesh Merchant, Mr. Arjun Sharma, and Ms. Alpana Parida.

Nomination & Remuneration Committee: Led by Ms. Alpana Parida (Independent Director), with members including Mr. Sadashiv Rao and Mr. Michael Holland.

Risk Management Committee: Chaired by Mr. Jayesh Merchant (Independent Director), comprising Ms. Alpana Parida, Mr. Michael Holland, and Mr. Dalip Sehgal.

Stakeholders Relationship Committee: Headed by Mr. Michael Holland (Independent Director), with Mr. Dalip Sehgal and Mr. Asheesh Mohta as members.

Board and Committee Meetings

During the quarter ended December 31, 2025, the board conducted two meetings with proper quorum maintained:

Meeting Date	Directors Present	Independent Directors Present	Gap from Previous Meeting
November 4, 2025	8	4	97 days
December 1, 2025	7	3	27 days

Committee meetings were also held during the quarter, including the Audit Committee on November 4, 2025, Nomination and Remuneration Committee on November 3, 2025, Stakeholders Relationship Committee on December 9, 2025, and Risk Management Committee on December 9, 2025.

Regulatory Compliance Affirmations

The report includes comprehensive affirmations confirming compliance with SEBI REIT Regulations 2014. The trust affirmed that:

Board composition meets regulatory requirements
All committees are properly constituted
Committee members are aware of their powers and responsibilities
Meetings are conducted as per prescribed manner
Reports have been placed before the board of directors

The compliance report was signed by Mr. Vijay Kumar Gupta, General Counsel, CS & Compliance Officer, on behalf of Nexus Select Trust through its manager, Nexus Select Mall Management Private Limited. The report has also been uploaded on the trust's website at www.nexusselecttrust.com for public access.

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-0.61%	+0.62%	-0.87%	+7.63%	+15.19%	+53.31%

Nexus Select Trust has successfully completed the acquisition of the remaining 0.55% equity shareholding in Euthoria Developers Private Limited (EDPL) for ₹10.00 crores on December 26, 2025. This strategic acquisition brings the Trust's ownership in EDPL to 100%, consolidating its control over the special purpose vehicle that owns key mall properties.

Transaction Details

The acquisition involved the purchase of 12,926 equity shares of ₹10.00 each from SSIII Indian Investments One Ltd., a sponsor group entity. The shares were previously under regulatory lock-in until September 30, 2025, and the Trust exercised its option to acquire them following the expiry of this restriction.

Transaction Parameter:	Details
Acquisition Date:	December 26, 2025
Number of Shares:	12,926 equity shares
Share Value:	₹10.00 each
Total Consideration:	₹10.00 crores
Percentage Acquired:	0.55%
Current Ownership:	100%

About Euthoria Developers Private Limited

EDPL, incorporated on August 8, 2012, operates as a real estate company with its registered office in Ahmedabad, Gujarat. The company owns and operates two significant mall properties: Nexus Ahmedabad One in Ahmedabad and Nexus Amritsar in Amritsar.

Financial Performance

EDPL has demonstrated consistent revenue growth over the past three financial years:

Financial Year:	Turnover (₹ Millions)
FY 2024-25:	2,328.38
FY 2023-24:	2,226.57
FY 2022-23:	2,100.27

Regulatory and Strategic Context

The acquisition qualifies as a related party transaction under the Securities and Exchange Board of India (Real Estate Investment Trusts) Regulations, 2014. The transaction was conducted on an arm's length basis, with EDPL being a subsidiary of the Trust and SSIII Indian Investments One Ltd. being a sponsor group company.

The acquisition aligns with the Trust's business objectives and requires no additional governmental or regulatory approvals. The cash consideration of ₹10.00 crores was paid on the completion date, finalizing the Trust's complete ownership of EDPL and its valuable mall properties in Ahmedabad and Amritsar.