1. COMPANY SPECIFIC INFORMATION:

1.1 FINANCIAL RESULTS

The Board of Directors hereby submits the report of the business and operations of your company
along with the audited financial statements, for the financial year ended March 31, 2026.

FINANCIAL OVERVIEW : (Amoun in Lakhs.)

1.2 REVIEW OF OPERATION:

The Company has incurred total loss of Rs. 3.97 Lakhs as compare to profit of Rs. 55.59 Lakhs in the
Previous Year. The Company earned revenue from operation is Rs. 62.33 Lakhs which is lower than
earned in the previous yearRs. 70.19 Lakhs. Currently company does not have any project and major
part of the earning of the company is from the interest income.

1.3 TRANSFER TO RESERVES:

The Board of Directors of your Company, has decided not to transfer any amount to the Reserves for
the year under review, except for the Profit earned during the year which has been transferred to the
Surpluses Head of the Reserves & Surpluses.

1.4 DIVIDEND:

The Board of Directors of your company, after considering holistically the relevant circumstances and
keeping in view the company's dividend distribution policy, has decided that it would be prudent, not
to recommend any Dividend for the year under review.

1.5 MAJOR EVENTS OCCURRED DURING THE YEAR :

(a) State of the Company's affair:

The Company is presently engaged in the business of construction and development of housing
projects in India. However, at present, the Company does not have any ongoing housing project.
During the financial year under review, The Company's primary source of income during the year
comprised interest income and recoveries from housing loans previously extended by the Company.

With a view to diversifying its business operations, reducing dependence on non-operating income
and creating sustainable long-term value for its stakeholders, the Board of Directors has been
actively exploring new business opportunities aligned with the Company's growth strategy.

Accordingly, in order to enable the Company to undertake such additional business activities and to
provide greater operational flexibility for future expansion, the Board of Directors, at its meeting
held on30/07/2026 approved the proposal to alter the Main Objects Clause of the Memorandum of
Association by inserting the proposed new object clause(s), subject to the approval of the Members.

The proposed amendment will empower the Company to pursue new business opportunities,
broaden its operational scope, diversify its revenue streams and strengthen its long-term growth
prospects. The Board believes that the proposed alteration is in the best interests of the Company
and its shareholders.

(b) Change in Nature of Business:

During the financial year there was no change in the nature of the business of the Company.

(c) Material changes and commitments affecting the financial position of the company:

There have been no material changes and commitments, which affect the financial position of the
company which have occurred between the end of the financial year of the company to which the
financial statements relate and the date of the report.

2. GENERAL INFORMATION:

ParshwanathCorporation Limited has been offering world-class residential and commercial
properties since 1967. Our aim is to create best in the class properties that offer the perfect balance
of opulence and elegance. We enhance the lifestyle of people by blending innovation with passion.
The company has grown brick by brick and reached towering heights.

3. CAPITAL AND DEBT STRUCTURE:

During the year under review, the company has neither issued nor bought back shares. The Capital of
the company remains same as under.

• The Capital of the Company consist only Equity shares.

4. CREDIT RATING:

During the year the company has not issued any securities and not raised any loan which requires
credit rating, hence credit rating provisions not applicable on company and has not obtained any
credit rating during the year.

5. INVESTOR EDUCATION AND PROTECTION FUND :

The Company has not declared any dividend, hence not transferred any amount to Investor
education and Protection Fund.

6. MANAGEMENT:

6.1 Directors and Key Managerial Personnel:

Board Composition:

The constitution of the Board (as on 31/03/2026) and the attendance of the Directors are given
below:

Directors:

1. Appointments:

There is no appointment during the year under review.

2. Change in Designation :

There is no change in designation of any director during the year under review.

3. Resignation:

There is no resignation during the year under review.

4. Retirement:

Mr. Asit Vyas (DIN: 08473656), Non executive director who retires by rotation and being eligible
offers himself for re-appointment.

5. Cessation:

There is no cessation during the year under review.

6. Disclosure of relationship between Directors inter se:

None of the directors are being related to each other except for Mrs. Riddhiben R. Patel,Joint-

Managing Director and Chief financial officer of the Company, being wife of Mr. Rushabh N. Patel
who is Managing Directorof the Company.

6.2 Independent Director:

Mr. Nikunj Hasmukhbhai Shah (DIN: 03502619) and Ms. TrishalaMahendraJadav (DIN: 10752459)
are independent directors of the company.

6.3 Independent Director's Declaration :

The company has received necessary declarations from Independent Director under Section 149(6)
and 149(7) of the companies Act, 2013 and regulation 16(l)(b) and regulation 25(8) of SEBI (Listing
Obligations and Disclosures Requirements) Regulations, 2015, that he-she meet the criteria of
independence laid down thereunder.

Familiarization Programme:

As per the provisions of the Companies Act, 2013 and SEBI (Listing Obligations and Disclosure
Requirements) Regulations. 2015, the company has taken necessary steps and formed the policy on
the Board's Familiarization and Remuneration Policy to get the new Directors (including Non-
Executive Directors and Independent Directors), Key Managerial Personnel and Senior Management
familiarize, habituated and their acquaintance with the atmosphere and working of the Company.
The same can be finding at the website of www.parshwanath.co.in.

6.4 Board Meetings:

During the period under review,05 (Five) Board Meeting were held by the Board of Directors to
transact various business items.

6.5 Committees:

1. Audit Committee:

(a) Brief Description:

The primary object of the Audit Committee is to monitor and provide an effective supervision of the
Management's financial reporting process, to ensure accurate and timely disclosures with the
highest levels of transparency, integrity and quality of financial reporting. The committee oversees
the work carried out in the financial reporting process by the Management, the internal auditor, the
statutory auditor and notes the processes and safeguards employed by each of them.

(b) Constitution and Composition of Audit Committee

The Company has in accordance with the Section 177 constituted the Audit Committee. The Audit
Committee constituted and re constituted from time to time to comply with statutory requirement.
The Audit Committee met 5 (Five) times during the last financial year on the following dates:

The constitution of the Committee (as on 31/03/2026) and the attendance of each member of the
Committee are given below :

(a) Constitution & Composition of Nomination & Remuneration Committee :

The Company has formulated Nomination & Remuneration Committee as per the requirement of
178(1) of the companies Act, 2013. The main function of the Nomination & Remuneration Committee
is to formulation and recommendation of the policy for the appointment, removal, performance
evaluation of the directors & the consideration to be paid to them and other matters as may be
determined by the committee and the prevailing provisions for formulation of criteria for evaluation
of Independent Directors and Board. Further to recommend/review remuneration of Directors based
on their performance and carry out functions as mandated by Board from time to time.

During the year under review, there is one meeting held on 09/07/2025 of Nomination and
Remuneration committee held during the year.

The constitution of the Committee (as on 31/03/2026) and the attendance of each member of the
Committee are given below:

3. Stakeholders Relationship Committee:

The Company has formulated the Stakeholders Relationship Committee in accordance with the
Section 178(5) of the Companies Act, 2013 and SEBI (Listing Obligations and Disclosures
Requirements) Regulations, 2015 as entered into by the Company. The function of the Stakeholders
Relationship Committee is to look into complaints if any and redress the same expeditiously. Besides,
the committee approves allotment, transfer & Transmission of shares, issue of any new certificates
on split / consolidation / renewal etc. as may be referred to it.

During the relevant financial year, 4 (Four) Committee Meetings were held as follows:

The constitution of the Committee as on 31/03/2026 is as under:

Compliance Officer:

Mr. Prashant Maha

Mail Id : ltd@parshwanath.co.in

Contact No.: 079-27540647

Note : The Company had not received the investor complaint.

4. Independent Directors' Meeting :

The Independent Directors of the Company met during the yearwithout the attendance of non -
Independent Directors and members of the Board on 17thFebruary, 2026. The Independent
Directors reviewed the performance of the non-independent Directors and Board as whole, the
performance of the Chairman taking into account the views of executive Directors and non-executive
Directors and assessed the quality, quantity and timeline of flow of information between company
management and Board.

6.6 Recommendation of Audit Committee:

The Company confirms that all recommendations made by the Audit Committee were duly accepted
and approved by the Board of Directors. Accordingly, there were no instances during the year where
any recommendation of the Audit Committee was not accepted by the Board.

6.7 Company's Policy on Directors appointment and remuneration :

The current policy is to have an appropriate mix of executive and independent directors to maintain
the independence of the board, and separate its functions of governance and management. The
policy of the Company on directors' appointment and remuneration, including the criteria for
determining qualifications, positive attributes, independence of a director and other matters, as
required under sub-section (3) of Section 178 of the Companies Act, 2013 is available at registered
office for review.

There has been no change in the policy since last fiscal. We affirm that the remuneration paid to the
directors is as per the terms laid out in the Nomination and Remuneration Policy of the Company.

Code of conduct:

The Company has already implemented a Code of Conduct for all Board Members and Senior
Managements of the company in compliance with SEBI (Listing Obligations and Disclosures
Requirements) Regulations, 2015 (earlier Listing Agreement). But, since the operations of the
Company were not much, the application of the code of conduct was limited to that extent. The code
of conduct of the company can be found on the website of the company at www.parshwanath.com

6.8 Board Evaluation:

During the year, the Board adopted a formal mechanism for evaluating its performance and as well as
that of its Committees and individual Directors, including the Chairman of the Board.

The evaluation framework for assessing the performance of Directors (including Independent
Directors) comprises of the following key areas:

• Attendance and participation in the Meetings and timely inputs on the minutes of the
meetings.

• Adherence to ethical standards & code of conduct of Company and disclosure of non -
independence, as and when it exists and disclosure of interest.

• Raising of valid concerns to the Board and constructive contribution to resolution of issues at
meetings.

• Interpersonal relations with other directors and management.

• Objective evaluation of Board's performance, rendering independent, unbiased opinion.

• Understanding of the Company and the external environment in which it operates and
contribution to strategic direction.

• Safeguarding interest of whistle-blowers under vigil mechanism and Safeguard of confidential
information.

The evaluation involves Self-Evaluation of the Board Member and subsequently assessment by the
Board of Directors. A member of the Board will not participate in the discussion of his / her
evaluation.

1. Observations of board evaluation carried out for the year:

2. Previous year's observation s and actions taken :

3. Proposed actions based on current year observations:

6.9 Remuneration of Directors and Employees of Listed companies :

Pursuant to the Sub - Rule (2) of the Rule 5 of the Companies (Appointment & Remuneration or
Managerial Personnel) Rules, 2014 and Amendment rules, 2016, read with Section 197 of the Act, no
employees was in receipt of the remuneration in aggregate to Rs. 1,20,00,000/- (Rupees One crore
Twenty Lakhs only) per annum or Rs. 8,50,000/- (Rupees Eight Lakh Fifty Thousand only) per month
or at a rate in excess of that drawn by the Managing Director / Whole - time director of Manager and

holds himself or along with his spouse & dependent children, no less than two percent of the equity
shares of the Company. Further, the information required pursuant to Section 197 read with Rule 5 of
the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 in respect of
employees of the Company will be provided upon request.

In terms of Section 136 of the Act, the Report and Accounts are being sent to the Members and
others entitled thereto, excluding the information on employees' particulars which is available for
inspection by the Members at the Registered Office of the Company during the business hours on
working days of the Company up to the date of the ensuing Annual General Meeting. If any Member
is interested in obtaining a copy thereof, such Member may write to the Company Secretary in this
regard.

As per the provisions of Section 197(12) of the Companies Act, 2013, read with Rule 5 of the
Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, the details of the
ratio of the remuneration of each director to the median employee's remuneration are described in
the "Annexure -1" to this report.

Further, in pursuance to the Rule 5(2) of the Companies (Appointment and Remunerations of
Managerial Personnel) Rules, 2014, the details of the employees employed throughout the financial
year or part thereof, was in receipt of remuneration in that year, which, in the aggregate, or as the
case may be, at a rate which in the aggregate, is in excess of that drawn by the Managing Director or
Whole Time Directors or Manager and holds by himself or along with his spouse and dependent
children, not less than two per cent of the equity shares of the company, is not being feasible for the
company, as the company currently pays sitting fees to the director of the company.

6.10 Remuneration received by Managing Director/ Whole time Director from holding or subsidiary
company:

There is no such amount received by the Managing Director/ Whole time Director As the company
does not have any holding company or subsidiary company.

6.11 Director's Responsibility Statement:

Pursuant to the provisions of Section 134(5) of the Companies Act, 2013, the board of directors, to
the best of their Knowledge and ability confirm and state that -

I. In the preparation of the annual accounts, the applicable accounting standards have been
followed along with proper explanation relating to material departures;

II. The Directors had selected such accounting policies and applied them consistently and made
judgments and estimates that are reasonable and prudent so as to give a true and fair view of
the state of affairs of the Company at the end of the financial year and of the Profit and loss of
the company for that period;

III. The Directors have taken proper and sufficient care for the maintenance of adequate
accounting records in accordance with the provisions of this Act for safeguarding the assets of
the Company and for preventing and detecting fraud and other irregularities;

IV. The Directors had prepared the annual accounts on a 'going concern' basis;

V. The Directors had laid down internal financial controls to be followed by the Company and
that such internal financial controls are adequate and were operating effectively; and

VI. The Directors had devised proper systems to ensure compliance with the provisions of all
applicable laws and that such systems were adequate and operating effectively.

6.12 Internal Financial Controls :

The Company has an adequate system of internal control procedures which is commensurate with
the size and nature of business. Detailed procedural manuals are in place to ensure that all the assets
are safeguarded, protected against loss and all transactions are authorized, recorded and reported
correctly. The internal control systems of the Company are monitored and evaluated by internal
auditors and their audit reports are periodically reviewed by the Audit Committee of the Board of
Directors. The observations and comments of the Audit Committee are also generally placed before
the Board. Some key features of the company's internal controls systems have been provided in the
Management discussion and Analysis Report as Annexure -V, which being annexed to this report.

6.12 Frauds reported by the Auditor:

In pursuance to the Section 134(3)(ca) of the Companies Act, 2013 ("the Act"), there has been no
reported frauds being detected by the Auditor of the Company in accordance with the Section
143(12) of the Act.

7. DISCLOSURES RELATING TO SUBSIDIARIES, ASSOCIATES AND JOINT VENTURES :

The Company does not have any Subsidiary, Associates Company or Joint Venture.

8. DETAILS OF DEPOSITS:

The Company has not invited or accepted deposit within the meaning of section 73 of the act read
with rules made there under, from the public neither does have any unpaid or unclaimed deposits
along with interest during the year. Further, the company has not made any default in repayment of
deposits or payment of interest thereon, as no deposits have been invited or accepted by the
Company during the year. Furthermore, there are no such deposits which are not in compliance with
the requirements of Chapter V of the Act.

9. PARTICULARS OF LOANS, GUARANTEES OR INVESTMENTS :

The Details of loan, guarantees or investment as per section 186 of the act are provided in the notes
to the financial Statement.

10. PARTICULARS OF CONTRACTS OR ARRANGEMENTS WITH RELATED PARTIES :

Particulars of contracts or arrangements with related Parties referred to in Section 188(1) of the
Companies, 2013 in the prescribed form AOC-2 is appended as "Annexure-ll" of the Board's report.

11. CORPORATE SOCIAL RESPONSIBILITY (CSR) INITIATIVES :

Your company is not falling under the criteria mention as per Section 135 (1) of the Companies Act,
2013 and the companies (Corporate Social Responsibilities) Rules, 2014. Hence, the company has not
developed and implemented any corporate Social Responsibilities initiatives.

12. CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE
EARNING/OUTGO:

Conservation of Energy and Technology Absorption :

During the year under review, there are no manufacturing activities undertaken by the company. The
Company has taken utmost care to use the latest technology to conserve the energy
Foreign Exchange Earnings : NIL
Foreign Exchange Expenditure: NIL

13. RISK MANAGEMENT:

Considering the present condition of the company the company has formulated the risk
management policy. The board is being regularly provided with information which may have
potential threat of risk as and when required. The detailed policy can be found out at the website of
the company www.parshwanath.com

14. DETAILS OF WHISTLE BLOWER POLICY & VIGIL MECHANISM :

The Company has established a "Whistle Blower and Vigil Mechanism Policy" for Directors and
employees to report the genuine concerns as per the provisions of Section 177 (9) of the Companies
Act, 2013. However, the Section is not applicable to the Company but the company has formed the
policy as a part of good governance.

15. SIGNIFICANT AND MATERIAL ORDERS OF JUDICIAL BODIES/REGULATORS :

There are no significant material orders passed by the Regulators/ Courts which would impact the
going concern status of the Company and its future operations.

16. AUDIT REPORT AND AUDITORS:

• INTERNAL AUDITOR:

In pursuance to the provisions of Section 138 of the Companies Act, 2013, your Company has
appointed M/s. Ajay Shah & Co., Chartered Accountant as the Internal Auditor of the Company.

• STATUTORY AUDITOR:

The Company had appointed M B D & Co. LLP, Chartered Accountants (Firm Registration No.
135129W/W100152) as the Statutory Auditors of the Company to hold office for a term of five
consecutive years, commencing from the conclusion of the 39th Annual General Meeting ("AGM")
until the conclusion of the 44th AGM of the Company.

The Board of Directors considers it appropriate, as a matter of good corporate governance, to seek
the approval of the members for ratification/confirmation of the continuation of the appointment of
M B D & Co. LLP for the remaining term of four (4) years, i.e., from the conclusion of this Annual
General Meeting until the conclusion of the 44th Annual General Meeting of the Company.

The observations and comments, if any, marked in the Auditors' Report are self-explanatory and
therefore, do not call for any further comments.

• COST AUDIT REPORT:

As per section 148 of the Companies Act, 2013 read with the Companies (Audit and Auditors) Rules,
2014, Company is in construction business, and as per criteria mentioned in the Companies (Cost
Records and Audit) Amendment Rules, 2014 (the Rules) company does not fall under the criteria
mentioned in the Rules.

• SECRETARIAL AUDITOR:

Mrs. KajalAnkitShukla, Proprietor of M/s. K. A. Shukla& Associates, Practicing Company Secretaries,
has been appointed for the purpose of conducting Secretarial Audit of the Company for the period of
5 years in the 39th Annual General Meeting. The Secretarial Audit Report is appended to this report
as "Annexure IV".

As the company have claimed exemption under the regulation 15 of SEBI Listing Obligation
(Disclosure & Requirements) Regulations, 2015, for Corporate Governance the provisions of
Annualsecretarialcompliance report as per circular dated 08th February, 2019 is not applicable on
the Company.

17. SECRETARIAL AUDIT REPORT:

The Secretarial Audit Report is appended to this report as "Annexure IV".

18. EXPLANATIONS IN RESPONSE TO AUDITORS QUALIFICATIONS :

Explanation to the observations given in the Secretarial Audit report:

1. In respect to the Qualification given by the secretarial auditor in the report with regards to
Point (ii), The company is under process of opening of Escrow Account.

2. In respect to the qualification given by the secretarial auditor in the report with regards to
point (i) the company is under process to dematerialized all shares of the promoter group.

19. COMPLIANCE WITH SECRETARIAL STANDARDS :

The Directors state that applicable Secretarial Standards i.e. SS-1 and SS-2 relating to 'Meetingsof
the Board of Directors' and 'General Meetings 'respectively have been duly followed by theCompany.

20. EXTRACT OF ANNUAL RETURN :

The Company is having website i.e. www.parshwanath.com and annual return of Company has been
published on such website. Link of the same is given belowhttps://www.parshwanath.com/annual-
return.php

21. CORPORATE GOVERNANCE REPORT:

As per the criteria mention in the regulation 15 of SEBI Listing Obligation (Disclosure &
Requirements) Regulations, 2015, company is not falling under the same and the company has
claimed exemption from SEBI. Hence company has not submitted corporate governance report with
the stock exchange for the period under review. The company has claimed exemption under
regulation 15(2) of SEBIListing Obligation (Disclosure & Requirements) Regulations, 2015 vide letter
dated 30th May, 2019 to Bombay Stock Exchange.

22. ANNUALSECRETARIALCOMPLIANCE REPORT:

As per the clarification issued by Bombay Stock Exchange dated 9th May, 2019 the company need not
to comply with the submission of Annual Secretarial Compliance report as does not falling under the
criteria mentioned under regulation 15 of SEBI Listing Obligation (Disclosure & Requirements)
Regulations, 2015. The company has claimed exemption under regulation 15(2) of SE BI Listing
Obligation (Disclosure & Requirements) Regulations, 2015 vide letter dated 30th May, 2019 to
Bombay Stock Exchange.

23. MANAGEMENT DISCUSSION & ANALYSIS REPORT:

The Management Discussion and Analysis Report as per the Regulation 34 of the SEBI Listing
Obligation (Disclosure & Requirements) Regulations, 2015 is part of the Annual Report as
"Annexure-V".

24. EQUAL OPPORTUNITY TO EMPLOYEES:

The Company has always provided a congenial atmosphere for work to all employees that are free
from discrimination and harassment including sexual harassment. It has provided equal
opportunities of employment to all without regard to their caste, religion, color, marital status and
sex. The Company has also framed a Policy on "Prevention of Sexual Harassment "at the workplace.
There were no cases reported under the said Policy during the year.

25. THE DETAILS OF APPLICATION MADE OR ANY PROCEEDING PENDING UNDER THE
INSOLVENCY AND BANKRUPTCY CODE, 2016 (31 OF 2016) DURING THE YEAR ALONGWITH
THEIR STATUS AS ATTHE END OF THE FINANCIAL YEAR :

There was no application or any proceedings is ongoing during the year under Insolvency and
Bankruptcy code 2016.

26. LISTING AT STOCK EXCHANGE:

The Equity shares of your company are listed on BSE (Bombay Stock Exchange). The Listing fees for
the Year 2025-2026 have been paid to the Stock Exchanges.

27. DISCLOSURE OF TRANSACTIONS OF COMPANY WITH PROMOTER/PROMOTER GROUP :

28. DISCLOSURE OF DEMAT SUSPENSE ACCOUNT / UNCLAIMED SUSPENSE ACCOUNT

With the advent of the new Securities & Exchange Board of India (Listing Obligations and Disclosure
Requirements) Regulations, 2015 the listed entities are required to make disclosure in the Annual
Report about the details of share in Demat Suspense Account / Unclaimed Suspense Account. The
details of the same Is mentioned below:

Aggregate number of shareholders and the outstanding shares in the

Suspense Account lying at the beginning of the year NIL

Number of shareholders who approached listed entity for transfer of

shares from suspense account during the year NIL

Number of shareholders to whom shares were transferred from

suspense account during the year Nil

Aggregate number of shareholders and the outstanding shares in

the suspense account lying at the end of the year Nil

The voting rights on these shares shall remain frozen till

the rightful owner of such shares claims the shares Not Applicable

29. DISCLOSURE FOR COMPLIANCE WITH OTHER STATUTORY LAWS :

29.1 Prevention of Sexual Harassment of Women at Workplace ("POSH "]:

The Company has adopted a policy for prevention of sexual harassment at the workplace, in line with
the requirements of the Sexual Harassment of Women at Workplace (Prevention, Prohibition and
Redressal) Act, 2013 ("POSH Act").

During the financial year under review, the Company has complied with all the provisions of the
POSH Act and the rules framed thereunder. Further details are as follow:

29.2 Maternity Benefit:

The Company affirms that it has duly complied with all provisions of the Maternity Benefit Act, 1961,
and has extended all statutory benefits to eligible women employees during the year.

30. APPRECIATION:

Your directors place on records their appreciation and gratitude for the excellent support the
Company has received from its workers, employees, customers, vendors and shareholders. They also
express their sincere thanks to the Bankers and various State Governments for the valuable support
extended to the Company.

For, Parshwanath Corporation Limited

Date :30/07/2026

Place: Ahmedabad SD/- SD/-

Mr. Rushabh N. Patel Mrs. Riddhiben R. Patel

Managing Director Joint-Managing Director

DIN : 00047374 DIN:00047238