Thakkers Developers Ltd announced a significant change in its leadership team as Abhishek Narendra Thakker steps down from his role as Chief Financial Officer (CFO), effective September 30, 2025. The company, known for its real estate development activities, disclosed this information in a filing to the Bombay Stock Exchange on October 10, 2025.

Resignation Details

Mr. Thakker's decision to resign stems from his desire to redirect his focus towards business development activities and strategic growth initiatives within the company. This move suggests a potential shift in Thakkers Developers' strategic priorities, emphasizing growth and expansion.

Transition Process

In his resignation letter dated August 14, 2025, Mr. Thakker expressed his commitment to ensuring a smooth transition. He stated, "I remain committed to ensuring a smooth transition and will extend all possible assistance during the handover process." This commitment underscores the company's efforts to maintain operational continuity during this leadership change.

Company Disclosure

The company has provided detailed information about the resignation in compliance with SEBI regulations. Key details of the disclosure include:

Impact and Future Outlook

While the company has not yet announced a successor for the CFO position, Mr. Thakker's shift to focus on business development could signal Thakkers Developers' intent to pursue aggressive growth strategies. The real estate sector often requires a delicate balance between financial prudence and growth initiatives, making this transition particularly noteworthy for investors and industry observers.

As Thakkers Developers navigates this leadership change, stakeholders will likely be keen to see how the company's financial strategy and growth plans evolve in the coming months. The appointment of a new CFO and any subsequent strategic announcements will be crucial indicators of the company's future direction.

Thakkers Developers Ltd , a prominent real estate company, has announced significant changes to its leadership team and board composition. The company disclosed these developments in a series of regulatory filings following its 38th Annual General Meeting held on September 30, 2025.

CFO Resignation and New Appointment

Abhishek Narendra Thakker has resigned from his position as Chief Financial Officer (CFO) of Thakkers Developers Ltd, effective September 30. According to the company's statement, Thakker's decision to step down was driven by his desire to focus exclusively on business development activities and strategic growth initiatives of the company.

To fill this vacancy, the company has appointed Rajendra Rambhau Bunage as the new Chief Financial Officer, effective October 1, 2025. Bunage's appointment was approved by shareholders at the 38th Annual General Meeting. With over 30 years of service to the company, Bunage brings extensive experience in corporate, project and trade finance, treasury operations, banking, loan and treasury management, taxation, and accounting. He also possesses strong management skills.

Board Restructuring

In addition to the CFO change, the company announced several changes to its board of directors:

1. Hetal Nishant Thakker has resigned from her position as Woman Director, citing pre-occupation elsewhere.

2. Four Non-Executive Independent Directors have stepped down:

   • Jaman Haridas Thakker
   • Chandrakant Haridas Thakker
   • Manish Vilas Lonari
   • Gaurav Jayant Deshmukh

The resignations of these independent directors are part of a broader initiative to reconstitute the panel of Independent Directors. The company stated that this move aims to bring in diversity, fresh perspectives, and further strengthen corporate governance practices.

New Appointments

To fill the vacancies created by these departures, Thakkers Developers Ltd has made the following appointments:

1. Poonam Rajendra Thakker as the new Woman Director.

2. Four new Independent Directors:

   • Chandrakant Mulchand Patel
   • Subhash Nandlal Dhoot
   • Pravin Nimba Wani
   • Girish Sharad Navase

The appointments of these new directors were approved by shareholders at the 38th Annual General Meeting and are effective from October 1, 2025, for a term of five years.

Profiles of New Directors

• Chandrakant Mulchand Patel brings extensive experience in real estate and construction sectors since 1990.
• Subhash Nandlal Dhoot has over three decades of experience in real estate and construction, along with share market knowledge.
• Girish Sharad Navase leads a century-old gold jewellery business and has ventured into real estate.
• Poonam Rajendra Thakker brings real estate expertise and investment strategy knowledge to the board.
• Pravin Nimba Wani has valuable experience in real estate dealings, construction activities, and legal matters related to real estate through his independent real estate business. The company believes his expertise can be utilized for smooth project execution, legal compliance, and strategic decision-making in real estate operations.

Other Business

The Annual General Meeting also addressed routine matters such as the adoption of financial statements and the reappointment of Rajendra Manohardas Thakker, who was retiring by rotation.

Jitendra Manohardas Thakker, Chairman of Thakkers Developers Ltd, expressed the board's appreciation for the valuable contributions made by the outgoing directors and CFO during their tenure with the company.

These changes mark a significant shift in the company's leadership structure. The company has confirmed that there are no disclosed relationships between directors, and the new appointees have not been debarred from holding directorship by any regulatory authority.