Mount Housing Appoints Ramesh Chand Bafna as Managing Director

COIMBATORE — Mount Housing and Infrastructure Limited announced that its Board of Directors has approved the appointment of Ramesh Chand Bafna as Managing Director for a five-year consecutive term, effective from September 4, 2026, to September 3, 2031. According to an official regulatory disclosure submitted to BSE Limited on September 4, 2026, the leadership transition also includes appointing Kalpesh Bafna as Whole-Time Director for a matching five-year tenure. The structural updates aim to reinforce executive oversight as the real estate developer prepares for its upcoming 31st Annual General Meeting on September 29, 2026.

Executive Leadership Restructuring and Terms

According to the official board meeting outcome filed under Regulation 30 of the SEBI Listing Regulations, the nominations were recommended by the Nomination and Remuneration Committee. Ramesh Chand Bafna, a founding promoter with over three decades of experience in real estate and infrastructure, will lead overall operations. Because he attains the age of 70 years on December 21, 2026, his continuation in employment and executive tenure beyond this age threshold require approval from members via a special resolution.

Concurrently, Kalpesh Bafna has been appointed as Whole-Time Director, bringing over fifteen years of expertise in project execution and construction management. The board approved a basic salary of Rs. 5,00,000 per month for both appointees during the initial three years spanning September 4, 2026, to September 3, 2029, subject to an overall annual ceiling of Rs. 84,00,000 per financial year, pending shareholder clearance.

Operational Context and Real Estate Strategy

The leadership appointments arrive alongside the finalization of the company's financial performance report for the fiscal year ended March 31, 2026, which reported a revenue from operations of Rs. 1,436.33 lakh and a net profit of Rs. 19.39 lakh. Mount Housing and Infrastructure Limited also authorized a retainership arrangement with White Ink, a related-party proprietorship, for architectural and project coordination services at a monthly fee of Rs. 4,50,000 to support ongoing and future property developments. These corporate actions provide operational continuity and governance stability for investors and business partners.

Official Sources Section

Information regarding the executive appointments, financial metrics, and corporate resolutions is sourced from the official regulatory disclosure and board meeting outcome published by Mount Housing and Infrastructure Limited and submitted to BSE Limited on September 4, 2026.

Quote Section

"According to official company statements released by Mount Housing and Infrastructure Limited, the Board of Directors approved the appointment of Ramesh Chand Bafna as Managing Director and Kalpesh Bafna as Whole-Time Director for five consecutive years starting September 4, 2026."

Why It Matters

Stable executive leadership allows regional real estate developers to manage project execution risks, navigate regulatory frameworks, and maintain lender confidence. Formalizing long-term managerial contracts ensures strategic alignment as the company addresses working capital demands and project monetization cycles.

Key Facts at a Glance

• Company Name: Mount Housing and Infrastructure Limited

• New Managing Director: Ramesh Chand Bafna

• New Whole-Time Director: Kalpesh Bafna

• Tenure Period: September 4, 2026, to September 3, 2031

• Stock Exchange Scrip Code: BSE: 542864 (ISIN: INE444X01014)

FAQ Section

Who has been appointed as the new Managing Director of Mount Housing? Ramesh Chand Bafna has been appointed as Managing Director for a five-year term effective September 4, 2026.

What is the approved remuneration structure for the new directors? Both executive directors have been approved for an initial basic salary of Rs. 5,00,000 per month for the first three years, subject to an overall annual ceiling of Rs. 84,00,000 and shareholder approval.

When is the upcoming Annual General Meeting scheduled? The 31st Annual General Meeting of Mount Housing and Infrastructure Limited is scheduled for Tuesday, September 29, 2026, at the company's registered office in Coimbatore.

Where is the company's registered office located? The registered office is located at No. 1175, Sungam Circle, Trichy Road, Ramanathapuram, Coimbatore, Tamil Nadu.

Source: Mount Housing and Infrastructure Limited Regulatory Filing to BSE, BSE Limited