Sayaji Hotels Limited has announced a leadership transition following its board meeting held on January 13, 2026. The company has disclosed key changes in its board structure and committee composition that will take effect later this month.

Leadership Transition Details

The board meeting, which commenced at 12:03 PM and concluded at 12:30 PM IST, addressed several important governance matters. The primary focus was the upcoming completion of Mr. Abhay Chintaman Chaudhari's tenure as Non-Executive Independent Director and Chairman of the company.

Board Restructuring

The appointment of Mr. Nimeshkumar Gandhi represents a seamless transition in the company's leadership structure. Gandhi will serve as both Chairman of the Board and Chairman of the Company, maintaining the dual role previously held by his predecessor. The transition is scheduled to take effect immediately after Chaudhari's tenure concludes.

Committee Reconstitution

Alongside the chairman transition, Sayaji Hotels Limited has announced changes in the composition of its Board of Directors. The company will also reconstitute certain committees of the Board of Directors, with all changes taking effect from January 23, 2026. The specific details of the committee restructuring were not elaborated in the board meeting outcome.

Corporate Governance Compliance

The announcement was made in compliance with Regulation 30 of the Securities and Exchange Board of India (SEBI) regulations, ensuring transparent communication with stakeholders. Company Secretary and Compliance Officer Puneet Karade signed the official communication, emphasizing the company's commitment to regulatory compliance and corporate governance standards.

The leadership transition reflects the company's ongoing commitment to maintaining strong governance practices while ensuring continuity in its strategic direction and operational oversight.

Sayaji Hotels Limited has entered into a comprehensive hotel management agreement with Mahavan Resort LLP, marking a significant expansion in its hospitality management portfolio. The agreement was formalized on January 6, 2026, and disclosed under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Agreement Structure and Duration

The management agreement establishes a long-term partnership spanning 15 years from the date of commercial commencement of the hotel operations. Upon completion of the initial term, the agreement may be renewed based on mutually agreed terms between both parties.

Property Specifications and Facilities

The hotel property in Somnath, Gujarat, will operate as a 4-star establishment under Sayaji Hotels' management and operational oversight. The comprehensive facility will cater to both leisure and business travelers with diverse accommodation and event options.

Key Facilities Include:

• Accommodation: 50 key rooms
• Event Spaces: 1 banquet hall and 1 banquet lawn
• Dining: 2 restaurants
• Wellness: Gym and spa facilities

The property will operate under the brand name "The Forest Chapter" by Sayaji, representing the company's commitment to maintaining its established brand standards across all managed properties.

Operational Framework

Under the agreement terms, Sayaji Hotels Limited will assume full responsibility for managing and operating the hotel owned by Mahavan Resort LLP. The company will provide operational services while ensuring adherence to its established brand standards and hospitality protocols.

The transaction has been classified as a non-related party transaction, conducted at arm's length, ensuring transparency and regulatory compliance. This strategic partnership allows Sayaji Hotels to expand its management footprint without direct capital investment in property ownership.

Strategic Implications

This management agreement represents Sayaji Hotels' continued focus on expanding its hospitality management services across key tourist destinations in India. The Somnath location provides strategic access to Gujarat's religious tourism circuit, potentially enhancing the company's market presence in the region.

The 15-year commitment demonstrates confidence in long-term partnership benefits while providing Sayaji Hotels with operational control over service delivery and brand representation. The comprehensive facility mix positions the property to serve diverse customer segments, from religious tourists to business travelers requiring event and conference facilities.