Prime Property Development Corporation Ltd (530695)

Prime Property Development Corporation's Board approved the re-appointment of Manish P. Soni and Vishal P. Soni as Whole Time Directors for a 5-year term from August 1, 2026, to July 31, 2031. Both directors are granted remuneration of Rs. 3,00,000 per month each for a 3-year period ending July 31, 2029, subject to shareholder approval at the 34th AGM. Both individuals are promoters and sons of Chairman Padamshi L. Soni. The Board also approved the un-audited standalone and consolidated Q1 financial results.

• Re-appointment of Manish P. Soni as Whole Time Director for 5 years effective August 1, 2026 to July 31, 2031
• Re-appointment of Vishal P. Soni as Whole Time Director for 5 years effective August 1, 2026 to July 31, 2031
• Monthly remuneration fixed at Rs. 3,00,000 per month each for 3 years up to July 31, 2029
• Auditor's review note shows subsidiary Sea King Club Pvt Ltd had Q1 revenue of Rs. 585 Lakhs and net loss of Rs. 206 Lakhs

Prime Property Development Corporation approved its unaudited standalone and consolidated financial results for the quarter ended June 30, 2026. The board approved the re-appointment of Whole Time Directors Manish P. Soni and Vishal P. Soni for 5 years with monthly remuneration of ₹3,00,000 each for 3 years, subject to shareholder approval. As per the auditor's review, subsidiary Sea King Club Private Limited reported total revenue of ₹585 Lakhs and a net loss of ₹206 Lakhs on total assets of ₹5543 Lakhs for the quarter.

• Re-appointed Manish P. Soni as Whole Time Director for 5 years from August 1, 2026, at ₹3,00,000 per month.
• Re-appointed Vishal P. Soni as Whole Time Director for 5 years from August 1, 2026, at ₹3,00,000 per month.
• Subsidiary Sea King Club reported total revenue of Rs. 585 Lakhs for Q1 ended June 30, 2026.
• Subsidiary Sea King Club recorded a net loss of Rs. 206 Lakhs with total assets of Rs. 5543 Lakhs.

Prime Property Development Corporation has scheduled a board meeting for August 14, 2026, to review and approve unaudited financial results for the quarter ended June 30, 2026. The company is coming off a high-performance March 2026 quarter where it recorded Rs 75 cr in revenue, a significant jump from zero revenue in the preceding three quarters. With a small market cap of Rs 51 cr and a low P/E of 2.1, the upcoming results are critical to determine if the recent growth is sustainable. The trading window has been closed since July 1, 2026.

• Board meeting scheduled for August 14, 2026, to approve Q1 FY27 results
• Trading window for insiders closed from July 1, 2026, until 48 hours post-announcement
• Company reported a significant Rs 75 cr revenue in the preceding quarter (Mar 2026)
• Current TTM PAT stands at Rs 25 cr against a market cap of Rs 51 cr
• Promoter holding remains stable at 72.81% as of June 2026

Prime Property Development Corporation Ltd has appointed Mr. Nandkumar Anant Chaugule as an Additional Independent Director effective July 25, 2026. Mr. Chaugule, aged 70, brings over 38 years of experience from the Indian Police Service, including roles as Additional Commissioner of Police in Navi Mumbai and Thane. The appointment is for a 5-year term, subject to shareholder approval at the next General Meeting or within 3 months. This is a routine board addition for the company, which has a market capitalization of Rs 45 Cr.

• Appointment of Mr. Nandkumar Anant Chaugule as Additional Independent Director effective July 25, 2026
• Appointee brings over 38 years of experience in police administration and law enforcement
• The tenure is set for 5 consecutive years, subject to shareholder ratification
• Shareholder approval required within 3 months from the date of appointment