Unitech Limited 's Board of Directors has approved the extension of Chief Executive Officer Ashok Kumar Yadav's tenure for an additional one-year period, demonstrating continuity in the company's leadership structure.

Board Meeting Details

The board meeting was conducted on January 31, 2026, commencing at 11:15 a.m. and concluding at 11:42 a.m. The decision to extend Yadav's tenure was made following the recommendation of the Nomination & Remuneration Committee.

Extension Terms and Duration

The extension covers a period of one year, with specific start and end dates clearly defined. The tenure extension includes provisions for early termination based on further company orders.

CEO Profile and Qualifications

Ashok Kumar Yadav brings substantial experience to his role as CEO and Key Managerial Personnel. His background encompasses both government administration and corporate sector expertise.

Professional Background:

• Retired IAS officer of Haryana Cadre
• Demonstrated history in government administration and corporate sector
• Former Managing Director and Director in multiple Public Sector Undertakings
• Expertise in non-profit organizations and real estate sector
• Specialized knowledge in business process improvement and public policy making

Educational Qualification:

• LL.M. from Punjab University, Chandigarh

Regulatory Compliance

The announcement was made in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Company Secretary & Compliance Officer Anuradha Mishra signed the disclosure document, ensuring proper regulatory adherence.

The extension reflects the board's confidence in Yadav's leadership capabilities and his continued contribution to the company's strategic direction and operational management.

Unitech Limited announced the outcome of its Board meeting held on February 12, 2026, where directors approved key appointments and quarterly financial results under ongoing Supreme Court proceedings.

Board Meeting Decisions

The Board of Directors, in their meeting that commenced at 11:00 AM and concluded at 12:15 PM, approved two significant items:

Internal Auditor Profile

M/s Prem Arun Jain & Co., established in 1981 by late Mr. Arun Jain, is currently headed by Mr. Varun Jain with a team of 25 professionals. The firm comprises three partners and a dynamic team including Chartered Accountants, Company Secretaries, M.Com graduates, MBAs, and commerce graduates experienced in various auditing and financial procedures across multiple industries.

Financial Results Overview

The unitech group reported continued financial challenges in Q3FY26, with losses significantly widening compared to the previous year:

Exceptional Items Impact

The company recorded exceptional items of Rs 317.95 crore in Q3FY26, contributing significantly to widened losses. These items relate to corrections of financial inconsistencies inherited from erstwhile management, including Rs 190.00 crore related to a project erroneously recorded by previous management and Rs 127.95 crore related to tax provisions from 2017.

Supreme Court Proceedings

Unitech continues operating under government-appointed Board of Directors following Supreme Court directions from January 20, 2020. Recent developments include Supreme Court orders dated January 16, 2025, and January 22, 2026, directing dialogue between the company and banks for potential one-time settlement. NOIDA has approved revised layout plans for key projects in Sectors 96-97-98, 113, and 117 as per Supreme Court directions.

Outstanding Liabilities

The statutory auditors have issued a disclaimer of conclusion on the financial results, citing material uncertainty about the company's ability to continue as a going concern and various reconciliation issues inherited from previous management.