SRG Housing Finance Limited has announced an Extra-Ordinary General Meeting (EGM) to seek shareholder approval for the re-appointment of an Independent Director. The meeting is scheduled for January 19, 2026, at 12:15 PM IST at the company's head office in Udaipur, Rajasthan.

Board Resolution and Re-appointment Details

The Board of Directors approved the re-appointment of Mr. Suresh Kumar Kanhaiyalal Porwal (DIN: 08966740) as Non-executive Independent Director at its meeting held on November 28, 2025. The re-appointment is for a second term of five consecutive years.

Director Profile and Qualifications

Mr. Porwal brings extensive banking and financial expertise to the board. He is a Chartered Accountant by profession and retired from State Bank of India in May 2020 as Chief Manager after more than 33 years of banking experience. Currently, he serves as a Partner in SCJ Associates, a Chartered Accountant firm, and has wide experience in Risk Management, having handled multiple functions at SBI.

Regulatory Compliance and Delayed Filing

The company disclosed that while the Board approved the re-appointment on November 28, 2025, the regulatory intimation under Regulation 30 of SEBI (LODR) Regulations, 2015 was inadvertently not submitted within the prescribed time due to internal oversight. Upon identification during internal review, the company is now submitting the intimation along with the EGM notice.

EGM Voting Arrangements

Shareholders will have multiple voting options available for the EGM:

Performance Evaluation and Board Recommendation

The Nomination and Remuneration Committee, after considering the performance evaluation report of Mr. Porwal during his first term and his knowledge, acumen, expertise, substantial contribution and time commitment, recommended his re-appointment at its meeting held on November 28, 2025. The Board believes his continued association would be beneficial to the company and that he fulfills the conditions specified under Section 149(6) of the Companies Act, 2013 and Regulation 16(1)(b) of SEBI (LODR) Regulations, 2015.

The resolution requires approval as a Special Resolution by the shareholders. The company has confirmed that except for Mr. Porwal himself, no other Directors or Key Managerial Personnel are concerned or interested in the proposed resolution.

SRG Housing Finance Limited (SRGHFL) has reported robust financial results for the second quarter of fiscal year 2026, showcasing significant growth across key metrics. The company's strategic expansion and focus on the affordable housing segment have contributed to its impressive performance.

Key Financial Highlights

Improved Asset Quality and Funding Profile

SRGHFL has maintained a stable asset quality with a slight improvement in its gross non-performing assets (GNPA) ratio, which stood at 1.88% compared to 1.96% in Q2 FY25. The net NPA ratio was reported at 0.64%, up marginally from 0.59% in the same quarter last year.

The company's funding profile has diversified, with outstanding borrowings reaching INR 685.00 crore. The breakdown of funding sources is as follows:

• Banks: 45%
• Financial Institutions: 44%
• Non-Convertible Debentures (NCDs): 7%
• National Housing Bank (NHB): 4%

Notably, SRGHFL successfully issued NCDs worth INR 50.00 crore in Q2, with an additional INR 26.00 crore issued in the current quarter. The company's Managing Director, Mr. Vinod Kumar Jain, highlighted that a mutual fund has invested in the INR 50.00 crore NCD issuance, marking a significant milestone for the company.

Operational Expansion and Future Outlook

SRGHFL has been actively expanding its geographical presence, with operations now spanning across Rajasthan, Maharashtra, Karnataka, and Andhra Pradesh. The company currently operates 93 branches and plans to increase this number to 100 by the end of the fiscal year.

For FY26, SRGHFL has set the following targets:

• Assets Under Management (AUM): INR 970.00 crore
• Disbursements: INR 400.00 crore

The company's credit rating has been upgraded to BBB+ with a positive outlook, which is expected to further improve its borrowing costs and access to funds.

Management Commentary

During the earnings conference call, Mr. Vinod Kumar Jain, Managing Director of SRGHFL, stated, "Our focus on sustainable growth and disciplined approach to lending has resulted in strong performance across key metrics. The improved credit rating and diversification of our funding sources, including the recent NCD issuances, position us well for future growth."

Mr. Jain also emphasized the company's commitment to maintaining asset quality while expanding its presence in new geographies. He noted that the average ticket size in the new markets of Maharashtra, Andhra Pradesh, and Karnataka is around INR 20-25 lakhs, higher than the company's traditional markets.

As SRG Housing Finance continues to execute its growth strategy, it remains focused on catering to the affordable housing segment in tier 2 and tier 3 cities, leveraging its deep understanding of local markets and customer needs.