Prime Property Development Corporation Limited announced the outcome of its Board Meeting held on August 14, 2026. The board approved the Un-Audited Financial Results for the quarter ended June 30, 2026, both standalone and consolidated, along with their limited review reports. Key appointments and re-appointments of directors were also sanctioned, including the re-appointment of Mr. Manish P. Soni and Mr. Vishal P. Soni for five-year terms.
Board Meeting Outcome: Q1 FY27 Financials Approved
Prime Property Development Corporation Limited held its Board Meeting on August 14, 2026. During this meeting, the Board of Directors officially approved and adopted the Un-Audited Financial Results for the quarter ended June 30, 2026. This included both standalone and consolidated financial statements, along with their respective Limited Review Reports.
Key Governance and Strategic Approvals
The meeting also saw the approval of several other significant governance and strategic items. These included the Notice of the 34th Annual General Meeting, Directors’ Report, Corporate Governance Report, and Management and Discussion Analysis Report. Furthermore, the Book Closure Dates and Record Date for the 34th Annual General Meeting were approved, along with the provision of an E-Voting Facility.
Director Re-appointments and Remuneration
In a significant governance move, the Board approved the re-appointment of Mr. Manish P. Soni as Whole Time Director for a period of five years, effective from August 1, 2026, to July 31, 2031. His remuneration was set at ₹3,00,000/- per month for the first three years, subject to shareholder approval. Similarly, Mr. Vishal P. Soni was re-appointed as Whole Time Director for a five-year term, also from August 1, 2026, to July 31, 2031, with a remuneration of ₹3,00,000/- per month for the initial three years, pending shareholder consent.
Appointment of Scrutinizer
Mr. Suhas Ganpule of M/s SG and Associates was appointed as the Scrutinizer for the upcoming 34th Annual General Meeting to ensure fair conduct of the voting process.
Financial Review
The Independent Auditor’s Review Report on the Unaudited Standalone Financial Results for the quarter ended June 30, 2026, was also presented and reviewed. The report, issued by Vora & Associates, indicates that based on their review, nothing has come to their attention to suggest that the financial statements are not presented fairly in accordance with applicable accounting standards and regulations. A similar review report was provided for the Consolidated Financial Results.
Financial Performance Highlights (Standalone)
For the quarter ended June 30, 2026, Prime Property Development Corporation Limited reported a standalone total income of ₹556.14 Lakhs. The net profit after tax for the period stood at ₹46.31 Lakhs. Basic and diluted Earnings Per Share (EPS) for continuing operations were ₹0.35.
Financial Performance Highlights (Consolidated)
On a consolidated basis for the same quarter, the total income was ₹675.67 Lakhs. The net profit after tax from continuing operations was ₹338.84 Lakhs. Basic and diluted Earnings Per Share (EPS) for continuing operations were ₹2.07.
Source: BSE
