Prestige Estates Projects Limited has received a cautionary email from the National Stock Exchange of India (NSE) concerning observations noted by the Secretarial Auditor in the Secretarial Compliance Report for the fiscal year ended March 2025. The company has enclosed necessary details as required, ensuring full compliance and transparency. This notice underscores Prestige’s commitment to addressing regulatory observations proactively and maintaining high standards of corporate governance.
NSE Cautionary Email
Prestige Estates Projects Limited received a cautionary email from the National Stock Exchange of India (NSE) on January 27, 2026, regarding observations reported by the Secretarial Auditor. These observations were included in the Secretarial Compliance Report for the financial year ending March 2025. The company is addressing these concerns to ensure future compliance.
Details of Observations
The observations reported in the Secretarial Compliance Report relate to clarifications and advisory received from NSE concerning compliance and intimations made during the fiscal year 2024-25. The email specifically noted the need for clarification regarding directorships, memberships, and chairmanship roles, as well as intimation procedures for meetings with analysts and investors.
Specific instances of deviation include:
- Clarification sought on exceeding directorship limits in committees of subsidiary companies.
- Delay in submitting Integrated Filing Financial reports for the period ended December 31, 2024.
- Schedule of analysts or institutional investors meetings not intimated to the Exchange at least 2 working days in advance.
Company Response
Prestige Estates Projects has responded to the NSE with the necessary information and clarifications. The company stated that in some instances there was inadvertent mentioning of a director as a chairman when he was only a member. Corrective measures have been implemented to prevent future occurrences. Additionally, delays in financial filings were addressed to avoid repetition.
Impact and Next Steps
The cautionary email has no immediate financial or operational impact on Prestige Estates Projects Limited. The company is committed to maintaining compliance with all regulatory requirements and has taken the necessary steps to address the observations raised by the NSE and the Secretarial Auditor. The company will continue to closely monitor compliance procedures to ensure all regulatory requirements are met in a timely manner.
Source: BSE
