To The Members,
Your directors take pleasure in presenting the 34th Annual Report of Bhudevi Infra Projects Limited (the Company) together with the audited financial statements for the financial year ended March 31, 2026.
The financial performance of your Company for the year ended March 31, 2026 is summarized below:
| PARTICULARS | 2025-26 | 2024-25 |
| Revenue from Operations | 287.76 | 358.05 |
| Other Income | 0.73 | 0.06 |
| Total Revenue | 288.49 | 358.11 |
| Total expenses | 281.29 | 313.48 |
| Profit/Loss Before Tax | 7.20 | 44.63 |
| Less: Provision for tax | ||
| Current Tax | (5.04) | 11.24 |
| Deferred tax | 0.61 | (0.01) |
| Net Profit/(Loss) | 11.63 | 33.40 |
Your Companys revenue from operations for the Financial Year 2025-26 is Rs. 287.76 Lakhs and a Net Profit of Rs. 11.63 Lakhs as compared to the previous years revenue from operations of Rs. 358.05 Lakhs and a Net Profit of Rs. 33.40 Lakhs.
The Company has not proposed to transfer any amount to the reserve for the financial year 2025-26.
In view of the Companys financial Position, your directors do not recommend Dividend for the financial year 2025-26.
Pursuant to Regulation 43A of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (SEBI Listing Regulations), the Board of Directors of the Company had formulated a Dividend Distribution Policy (the Policy). The Policy is available on the Companys website https://www.bhudeviprojects.com/ .
During the financial year 2025-26, there was no change in the share capital of the Company. As on March 31, 2026, the Authorised Share Capital of the Company is Rs. 600 Lakhs and Issued, subscribed and paid-up share Capital is Rs. 458.92 Lakhs.
However, the Board of Directors of the company has proposed to increase the authorised share capital of the company from Rs. 6,00,00,000 (Rupees Six crore only) divided into 60,00,000 (Sixty Lakhs) Equity Shares of Rs. 10/- each to Rs.10,00,00,000 (Rupees Ten Crore only) divided into 1,00,00,000 (One Crore) Equity Shares of Rs. 10/- each subject to the approval of the Members at the ensuing Annual General Meeting of the Company.
There has been no change in the nature of business of the Company during the Financial Year 2025-26.
However, following the end of the financial year, the registered office of the Company was shifted from 1-8-303/48/13/202/302, 3rd Floor, Arya One, Sindhi Colony, S.P. Road, Secunderabad, Hyderabad - 500003, Telangana, India to Flat No. 301, 3rd Floor, Manbhum Jade Towers, MCH Nos. 6-3-1090/A/12 & 13/301, Somajiguda, Raj Bhavan Road, Hyderabad - 500082, Telangana, with effect from April 22, 2026.
Your Company does not have any Subsidiary, Joint venture or Associate Company during the period under review.
The provisions of Section 125(2) of the Companies Act, 2013 do not apply to the Company as no dividend has been declared by the Company.
During the period under review, your Company has no material changes and commitments affecting the financial position of the Company.
The Company has framed a risk management framework to identify, business risk and challenges across the Company. The risk framework helps us meet the business objectives by aligning operating controls with the mission and vision of the Company. After extensive deliberation on the nature of risk and after adequate risk mitigations steps, the business activities are being carried out under the direct supervision of the Board of Directors of the Company to ensure that no foreseeable risk involved in such an activity which may threaten the existence of the Company.
Pursuant to the provisions of Section 135(1) and read with all other applicable provisions of the Companies Act, 2013 and the Companies (Corporate social responsibility policy) Rules, 2014 (including any statutory modification(s) or re-enactment thereof for the time being in force), corporate social responsibility is not applicable to the Company during the financial year 2025-26.
The Board of Directors of the Company is responsible for overseeing the Corporate Governance framework. The Board adopts strategic plans and policies, monitoring the operational performance, establishing policies and processes that ensure integrity of the Companys internal controls and risk management. The Board establishes clear roles and responsibilities in discharging its fiduciary and leadership functions and also ensures that the management actively cultivates a culture of ethical conduct and sets the values to which the organization will adhere.
The Directors of your Company are appointed/re-appointed by the Board on the recommendation of the Nomination and Remuneration Committee and approval of the Board of Directors/Shareholders. In accordance with the Articles of Association of your Company and provisions of the Act, all the Directors, except the Managing Director and Independent Directors, of your Company, are liable to retire by rotation at the Annual General Meeting (AGM) each year and, if eligible, offer their candidature for re-appointment.
The Executive Directors on the Board have been appointed as per the provisions of the Act and serve in accordance with the terms of employment with your Company. As regards the appointment and tenure of Independent Directors, following is the policy adopted by the Board.
Your Company has adopted the provisions with respect to appointment and tenure of Independent Directors which are consistent with the Act and SEBI Listing Regulations. In keeping with progressive governance practices, it has resolved to appoint all new Independent Directors for two terms upto 5 (Five) years each.
None of the Independent Director(s) of your Company resigned during the financial year 2025-26.
In compliance with Regulation 26 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, none of the Directors is a member of more than 10 (ten) Committees or acts as an independent director in more than 7 (seven) listed companies. Further, none of the Directors on your Companys Board is a member of more than 10 (ten) committees and chairperson of more than 5 (five) committees (committees being, audit committee and stakeholders relationship committee) across all the companies in which he/she is a director. All the Directors have made necessary disclosures regarding committee positions held by them in other companies.
The Board comprises an optimum combination of Executive, Non-Executive & Independent Director and Women Director as per the provisions of the Companies Act, 2013 (hereinafter referred as Act) and Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (hereinafter referred as SEBI Listing Regulations). As on March 31, 2026, the Board has 03 Executive Directors, 02 Independent (Non-Executive) Directors and 01 Women Director (Non-Executive).
The Board of Directors of your Company comprises of the following Directors:
| Name of the Director | Designation |
| Mr. Bhasker K Bhatt | Managing Director |
| Mr. Madhav B Bhatt | Executive Director |
| Mr. Kapil Mehta | Additional Director |
| Mr. Hari Prasad Puttumurthi | Independent Director |
| Mr. Parth Arvind Joshi | Independent Director |
| Mrs. Pathika B Bhatt | Non-Executive Director |
Pathika B Bhatt (DIN: 09488957), Director is liable to retire by rotation at the ensuing Annual General Meeting and seeking reappointment, has offered herself for reappointment.
The SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, mandates that the Board shall monitor and review the Board evaluation framework. The Companies Act, 2013 states that a formal annual evaluation needs to be made by the Board of its own performance and that of its committees and individual directors. Schedule IV of the Companies Act, 2013 states that the performance evaluation of independent directors shall be done by the entire Board of Directors, excluding the director being evaluated.
The board of directors of the company had carried out an annual evaluation of its own performance, board committees and individual directors pursuant to the provisions of the Act and the corporate governance requirements as prescribed by Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements), Regulations 2015 (SEBI Listing Regulations) and the board of directors of the Company had carried out an annual evaluation of its own performance, board committees and individual directors pursuant to the provisions of the Act.
During the financial year 2025-26, the Board of Directors of your Company met 6 times, on May 28, 2025, August 14, 2025, September 03, 2025, November 14, 2025, December 23, 2025 and February 14, 2026.
The Maximum Interval between any two meetings did not exceed 120 days.
The below table gives the composition, meeting dates and attendance of the Board of Directors.
| Director | Category | No. of other Directorship(s) | Number of Membership(s) & Chairmanship(s) & of Committees in other Companies as on 31.03.2026 | No. of Board Meetings attended | Whether attended the last AGM (Yes/ No) |
| Parth Arvind Joshi | Non-Executive Independent Director | 0 | 0 | 6 | No |
| Hari Prasad Puttumurthi | Non-Executive Independent Director | 0 | 0 | 6 | Yes |
| Bhasker K Bhatt | Managing Director | 0 | 0 | 6 | Yes |
| Madhav B Bhatt | Executive Director | 0 | 0 | 6 | Yes |
| Pathika B Bhatt* | Non-Executive Director | 0 | 0 | 6 | Yes |
| Kapil Mehta* | Executive Director | 0 | 0 | 1 | No |
$Excludes Directorships in Private Limited Companies, Foreign Companies and Section 8 Companies.
$Only Audit Committee and Stakeholders Relationship Committee have been considered in terms of Regulation 26 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. (SEBI Listing Regulations).
All Directors are in compliance with the limit on Directorships as prescribed under Regulation 17A of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
Independent Director Means Director as defined in SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and Section 149(6) of the Companies Act, 2013. All the Independent Directors have given the declaration of their independence at the beginning of the financial year.
None of the Directors on the Board:
is a member of more than 10 Board level committees and Chairman of 5 such committees across all the Public Companies in which he or she is a director; holds directorships in more than ten public Companies; Serves as Director or as Independent Director (ID) in more than seven listed entities; and who are the Executive Directors serves as ID in more than three listed entities. All the Directors of the Company are appointed/re-appointed by the Shareholders on the basis of recommendations of the Board and Nomination and Remuneration Committee.
The Board of directors of your Company has an optimum combination of Executive, Non-Executive and Independent Directors including Women Director.
Mr. Kapil Mehta, (DIN: 11445862) has been appointed as an Additional Director in Executive Category by the Board of Directors of the Company based on the recommendation of the Nomination Remuneration Committee w.e.f., December 23, 2025 for a period of 3 years subject to approval of the shareholders in the ensuing Annual General meeting.
The board has recommended his appointment to the members for regularisation as Director of the Company at the ensuing Annual general meeting.
During the year under review, there was a change in the Key Managerial Personnel of the Company. However, Mr. V Arun resigned from the office of Company Secretary & Compliance Officer of the Company with effect from June 06, 2026. Consequent to the vacancy arising from such resignation, Mr. Ramesh Kumar Bandari was appointed as the Company Secretary & Compliance Officer of the Company with effect from August 01, 2026.
Except for the aforesaid change, there were no other changes in the Key Managerial Personnel of the Company during the year under review.
During the financial year under review, Independent Directors of the Company have met once on February 14, 2026 for the following:
review of the performance of Non-Independent Directors and the Board of Directors as a whole; review of the performance of the Chairman of the Company, taking into account the views of the Executive and Non-Executive Directors; Evaluation of the quality, quantity and timelines of flow of information between the Management and the Board that is necessary for the Board to effectively and reasonably perform its duties;
All Independent Directors have given declarations that they meet the criteria of independence as laid down under Section 149(6) of the Companies Act, 2013 and Regulation 16 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. They have also complied with the Code for Independent Directors prescribed in Schedule IV of the Companies Act, 2013.
In the opinion of Board, Independent Directors fulfil the conditions specified in the Companies Act, 2013 read with schedules and rules thereto as well as the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and Independent Directors are independent of management.
The Nomination and Remuneration Committee will recommend the remuneration in whatever form/fee to be paid to the Managing Director, Whole-time Director, other Directors, Key Managerial Personnel and Senior Management Personnel to the Board for their approval.
The level and composition of remuneration/fee so determined by the Committee shall be reasonable and sufficient to attract, retain and motivate directors, Key Managerial Personnel and Senior Management. The relationship of remuneration/fee to performance should be clear and meet appropriate performance benchmarks. The remuneration should also involve a balance between fixed and incentive pay reflecting short and long-term performance objectives appropriate to the working of the Company and its goals.
On the recommendation of the Nomination and Remuneration Committee, the Board has adopted and framed a Remuneration Policy for the Directors, Key Managerial Personnel and other Employees pursuant to the provisions of the Companies Act, 2013 and SEBI Listing Regulations and the same is enclosed as Annexure - 1 and the Remuneration Policy is posted on the website of your Company which may be accessed at https://www.bhudeviprojects.com .
Besides the above Criteria, the Remuneration/compensation/commission/fee/incentives to be paid to Director/Managing Director/Whole-Time Director shall be governed as per provisions of the Companies Act, 2013 and rules made thereunder or any other enactment for the time being in force.
The Non-Executive Directors (including Independent Directors) may receive remuneration by way of sitting fees for attending meetings of Board or Committee thereof. Provided that the amount of such fees shall be subject to ceiling/limits as provided under Companies Act, 2013 and rules made thereunder or any other enactment for the time being in force.
A formal familiarization program was conducted apprising the directors on the provisions of the Companies Act, rules prescribed thereunder, SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and all other applicable laws to your Company. All the directors were also apprised about the business of your Company.
It is the general practice of your Company to notify the changes in all the applicable laws to the Board of Directors, from time to time. The objective of the program is to familiarize Independent Directors on the Board with the business of your Company, industry in which your Company operates, business model, challenges etc. through various programs such as interaction with experts within your Company, meetings with our business leads and functional heads on a regular basis.
The details of such familiarization programs for Independent Directors are posted on the website of your Company which may be accessed at https://www.bhudeviprojects.com/
Pursuant to the provisions of the Companies Act, 2013 and SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Board has carried out the annual performance evaluation of its own performance, the directors individually as well as the evaluation of the working of its Audit Committee, Nomination and Remuneration Committee and all other committees.
A structured questionnaire was prepared after taking into consideration inputs received from the Directors, covering various aspects of the Boards functioning such as adequacy of the composition of the Board and its Committees, board culture, execution and performance of specific duties, obligations and governance.
A separate exercise was carried out to evaluate the performance of individual Directors including the Chairman of the Board, who were evaluated on parameters such as level of engagement and contribution, independence of judgment, safeguarding the interest of your Company and its minority shareholders etc. The performance evaluation of the Independent Directors was carried out by the entire Board, excluding the Independent Director being evaluated.
In a separate meeting of Independent Directors, performance of Non-Independent Directors, the Board as a whole and the Chairman of your Company was evaluated, taking into account the views of the Executive Directors & Non-Executive Directors. The Nomination and Remuneration Committee reviewed the performance of individual directors on the basis of criteria such as the contribution of the individual director to the Board and Committee meetings like preparedness on the issues to be discussed, meaningful and constructive contribution and inputs in meetings etc. The Directors expressed their satisfaction with the evaluation process.
The Committees of the Board focus on certain specific areas and make informed decisions in line with the delegated authority.
The following Committees constituted by the Board function according to their respective roles and defined scope:
Audit Committee Nomination and Remuneration Committee Stakeholders Relationship Committee
The management is responsible for the Companys internal controls and the financial reporting process while the statutory auditors are responsible for performing independent audits of the Companys financial statements in accordance with generally accepted auditing practices and for issuing reports based on such audits. The Board of Directors has constituted and entrusted the Audit Committee with the responsibility to supervise these processes and thus ensure accurate and timely disclosures that maintain the transparency, integrity and quality of financial control and reporting. The constitution of the Audit Committee meets with the requirements of Section 177 of the Companies Act, 2013 and SEBI Listing Regulations.
The Audit Committee comprises of Independent Directors and Non-Executive Directors. All members of the Audit Committee are financially literate and bring in expertise in the fields of finance, economics, strategy and management.
During the financial year 2025-26, the Audit Committee met five times on May 28, 2025, August 14, 2025, September 03, 2025, November 14, 2025 and February 14, 2026.
The below table gives the composition and attendance for the meetings of the Audit Committee and the Company Secretary of the Company, acting as the secretary of the Committee.
The Composition, Number of meetings held/attended during the financial year of the Audit Committee is as follows:
| S. No. | Name | Position | Number of meetings during the financial year | |
| Held | Attended | |||
| 1 | Mr. Hari Prasad Puttumurthi | Chairman | 5 | 5 |
| 2 | Mr. Parth Arvind Joshi | Member | 5 | 5 |
| 3 | Mrs. Pathika B Bhatt | Member | 5 | 5 |
1. Terms of Reference:
The terms of reference of the Audit Committee are formulated pursuant to the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 entered into with Stock Exchange read with Section 177 of the Companies Act, 2013 and includes such other functions as may be assigned to it by the Board from time to time.
The brief terms of reference of the Audit Committee are provided in Annexure-2 which forms part of this report.
The Board has constituted Nomination & Remuneration Committee consisting of two Independent Directors and one Non-Executive Director. The terms of reference of the Committee covers evaluation of compensation and benefits for Executive Director(s), Non-Executive Director(s), Senior Management Employees.
During the financial year 2025-26, the Committee met two times on May 28, 2025 and December 23, 2025.
The below table gives the composition and attendance of the Nomination & Remuneration Committee and the Company Secretary of the Company acting as the secretary of the Committee.
| S. No. | Name | Position | Number of meetings during the financial year | |
| Held | Attended | |||
| 1 | Mr. Hari Prasad Puttumurthi | Chairman | 2 | 2 |
| 2 | Mr. Parth Arvind Joshi | Member | 2 | 2 |
| 3 | Mrs. Pathika B Bhatt | Member | 2 | 2 |
The brief terms of reference of the Nomination & Remuneration Committee are provided in Annexure-3 which forms part of this report.
The Board has constituted Stakeholders Relationship Committee consisting of two Independent Directors and a Non-Executive Director.
The Stakeholders Relationship Committee is empowered to perform the functions of the Board relating to handling of stakeholders queries and grievances.
During the financial year 2025-26, the Committee met two times on December 23, 2025 and February 14, 2026.
The below table gives the composition and attendance record of the Stakeholders Relationship Committee. The Company Secretary of the Company act as the secretary of the Committee and also designated as Compliance Officer.
3th Annual Report
| S. No. | Name | Position | Number of meetings during the financial year | |
| Held | Attended | |||
| 1 | Mr. Hari Prasad Puttumurthi | Chairman | 2 | 2 |
| 2 | Mr. Parth Arvind Joshi | Member | 2 | 2 |
| 3 | Mrs. Pathika B Bhatt | Member | 2 | 2 |
The brief terms of reference of the Stakeholders Relationship Committee are provided in Annexure-4 which forms part of this report.
The details regarding Energy Conservation, Technology Absorption, Foreign Exchange Earnings and Outgo as required under Section 134 (3) (m) of the Companies Act, 2013 read with the Companies (Accounts) Rules, 2014 are provided in Annexure - 5 hereto which forms part of this Report.
There were no loans, guarantees or investment made by the company under section 186 of the Companies Act 2013, during the financial year 2025-26.
Pursuant to the provisions of Regulation 34(2) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 a report on Management Discussion & Analysis is herewith annexed as Annexure - 6 to this report.
In terms of section 139(1) of the Companies Act, 2013, M/s. Samudrala K & Co. LLP, Chartered accountants, Hyderabad (FRN-S200142) were appointed as the Statutory Auditors of the Company at 32nd AGM for a period of 5 years till the conclusion of 37th AGM by the members of the Company to be held in the year 2029.
The Board of Directors based on the recommendation of the Audit Committee have re-appointed Swati Doogar & Co., Chartered Accountants, Hyderabad, as the Internal Auditors of your Company for the financial year 2025-26.
The maintenance of cost records as specified by the Central Government under sub-section (1) of section 148 of the Companies Act, 2013, is not applicable to the Company and accordingly such accounts and records are not required to be made and maintained.
The appointment of Cost Auditors as specified under sub-section (1) of Section 148 of the Companies Act, 2013, is not applicable to the Company.
Pursuant to Regulation 24A and other applicable provisions, if any, of the SEBI Listing Regulations, 2015, read with Section 204 of the Companies Act, 2013 and the Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014, the members of the Company at the 33rd AGM, approved the appointment of Mrs. N Vanitha, Practicing Company Secretary (C.P. No.: 10573), Hyderabad, who hold a valid certificate of peer review issued by the Institute of Company Secretaries of India, as the Secretarial Auditors of the Company for first term of five consecutive years commencing from the FY 2025-26 to the FY 2029-30.
The Secretarial Audit Report for the financial year ended March 31, 2026, prepared in accordance with the Companies Act, 2013, applicable Rules, and Regulation 24A of the Listing Regulations, is annexed to this Report as Annexure - 7.
Your Company has devised proper systems to ensure compliance with the provisions of all the applicable Secretarial Standards issued by the Institute of Company Secretaries of India and that such systems are adequate and operating effectively. During the year under review, your Company has complied with the Secretarial Standards issued by the Institute of Company Secretaries of India.
There are no related party transactions as specified under Section 188 of the Companies Act, 2013 and rules made thereunder during the financial year 2025-26. There are no materially significant related party transactions made by the Company with Promoters, Directors, Key Managerial Personnel or other designated persons which may have a potential conflict with the interest of the Company at large except the loan taken from director as disclosed in note 33 of financial statements of the Company.
The policy on related party transactions and dealings in related party transactions, as approved by the Board is available on the website which may be accessed at https://www.bhudeviprojects.com/ .
In accordance with Section 134(3) (a) of the Companies Act, 2013, a copy of Annual Return in the prescribed format i.e. Form MGT-7 is placed on the website of your Company which may be accessed at https://www.bhudeviprojects.com/ .
Pursuant to Section 134(5) of the Companies Act, 2013, your Directors confirm that to the best of their knowledge and belief and according to the information and explanation obtained by them,
a. in the preparation of the annual accounts for the financial year ended March 31, 2026, the applicable accounting standards have been followed along with proper explanation relating to material departures; b. 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 as at March 31, 2026 and of the profit or loss of the Company for the financial year ended on that date; c. Proper and sufficient care for the maintenance of adequate accounting records in accordance with these provisions of the Act for safeguarding the assets of the Company and for preventing and detecting fraud and other irregularities;
d. The annual accounts for the year 2025-26 have been prepared on a going concern basis; e. Proper internal financial controls were in place and that the financial controls were adequate and were operating effectively; f. Devised proper systems to ensure compliance with the provisions of all applicable laws were in place and were adequate and operating effectively.
Your Company has not accepted any deposits within the meaning of Section 73 of the Companies Act, 2013 read with Companies (Acceptance of Deposits) Rules, 2014 during the year.
During the Financial Year, the Company has received unsecured loans from directors which are as specified in Note No.32 to the financial statements of the Company.
The Company is a listed entity. However, pursuant to Regulation 15(2)(a) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the provisions relating to Corporate Governance specified under Regulations 17 to 27, clauses (b) to (i) and (t) of sub-regulation (2) of Regulation 46 and Para C, D and E of Schedule V of the said Regulations are not applicable to the Company, as the paid-up equity share capital and net worth of the Company, as on the last day of the previous financial year, are within the thresholds prescribed under the said Regulation.
Accordingly, the Company is not required to prepare or submit the Corporate Governance Report under Regulation 27(2) of the SEBI Listing Regulations. However, the Company continues to comply with the applicable provisions of the Companies Act, 2013, including those relating to the constitution and functioning of the Board and statutory committees, to the extent applicable.
The Vigil Mechanism as envisaged in the Companies Act, 2013, the Rules prescribed thereunder and the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 is implemented through your Companys Whistle Blower Policy, to deal with instances of fraud and mismanagement, if any in the Group. The Policy provides for adequate safeguards against victimization of employees and Directors who avail the mechanism and also provides for direct access to the Chairman of the Audit Committee. The details of the Policy is available on the website of your Company which may be accessed at https://www.bhudeviprojects.com/
The Whistle Blower Policy aims for conducting the affairs in a fair and transparent manner by adopting highest standards of professionalism, honesty, integrity and ethical behaviour. All the employees of your Company are covered under the Whistle Blower Policy.
During the year under review, there was no instance of fraud, which required the Statutory Auditors to report to the Audit Committee and/or Board under Section 143(12) of the Companies Act, 2013 and the rules made thereunder.
The information required pursuant to Section 197 read with Rule 5 of The Companies (Appointment and Remuneration of Managerial Personnel) Rules, 2014 and as amended in respect of our employees, is attached herewith and marked as Annexure-8.
During the financial year under review, no significant or material orders were passed by the regulators or courts or tribunals which impact the going concern status and the future operations of the Company.
No application was made or any proceedings pending under the IBC, 2016 during the year ended on March 31, 2026.
Our Equity Shares are listed on BSE Limited, Mumbai. The listing fee for the FY 2025-26 has been duly paid.
The Company is committed to ensuring a safe, inclusive, and supportive work environment for all employees. The Company has complied with the provisions of the Maternity Benefit Act, 1961, and extends all benefits and protections under the Act to eligible employees. Adequate internal policies and procedures are in place to uphold the rights and welfare of women employees in accordance with the applicable laws.
The Company has in place proper and adequate internal control systems commensurate with the nature of its business, and size and complexity of its operations. Internal control systems comprising of policies and procedures designed to ensure reliability of financial reporting, timely feedback on achievement of operational and strategic goals, compliance with policies, procedure, applicable laws and regulations, and that all assets and resources are acquired are used economically.
Your Company continues to foster a culture of fair management practices, endeavouring to provide a congenial work environment. It consistently invests in its human assets to recruit, train and retain high-potential talent.
A conscientious bottom-up approach to skills training strengthens overall competencies. As a result, your Companys workforce consists of an invaluable mix of freshers and experienced employees with extensive industry insight - a key cornerstone in the organizations success.
The Company has adopted a Code of Conduct to Regulate, Monitor and Report Trading by Insiders (the Code) in accordance with the SEBI (Prohibition of Insider Trading) Regulations, 2015 (The PIT Regulations).
The Code is applicable to Promoters, Member of Promoters Group, all Directors and such Designated Employees who are expected to have access to unpublished price sensitive information relating to the Company. The Company Secretary is the Compliance Officer for monitoring adherence to the SEBI (Prohibition of Insider Trading) Regulations, 2015.
The Company has also formulated The Code of Practices and Procedures for Fair Disclosure of Unpublished Price Sensitive Information (UPSI) in compliance with the SEBI (PIT) Amendment Regulations, 2018. This Code is displayed on the Companys website https://www.bhudeviprojects.com/
The Company has laid down a Code of Business Conduct and Ethics for the Directors and the Senior Management Personnel. The Board has also approved a Code of Conduct for the Non-Executive Directors of the Company, which incorporates the duties of Independent Directors as laid down in Schedule IV of Companies Act, 2013.
As per the requirements of the Sexual Harassment of Women at Workplace (Prevention, Prohibition & Redressal) Act, 2013, the Company has zero tolerance for sexual harassment at workplace and has adopted a Policy on Prevention, Prohibition and Redressal of Sexual Harassment at workplace in line with the provisions of the Sexual Harassment of Women at Workplace (Prevention, Prohibition and Redressal) Act, 2013 and Rules framed thereunder.
During F.Y. 2025-26, the Company had received 0 complaints on sexual harassment.
a. number of complaints filed during the financial year :Nil b. number of complaints disposed of during the financial year :Nil c. number of complaints pending as on end of the financial year :Nil
The Ministry of Corporate Affairs (MCA) has taken a green initiative in Corporate Governance by allowing paperless compliances by the Companies and permitted the service of Annual Reports and documents to the shareholders through electronic mode subject to certain conditions and your Company continues to send Annual Reports and other communications in electronic mode to the members who have registered their email addresses with your Company/RTA.
The company has registered itself under SEBI Complaint Redressal System (SCORES) for faster and transparent processing of Investor Grievance. The details of Complaints receive and resolved during the year is as follows:
The company has registered itself under SEBI Complaint Redressal System (SCORES) for faster and transparent processing of Investor Grievance. The details of Complaints receive and resolved during the year is as follows:
| 1 | Pending at the beginning of the year | 0 |
| 2 | Received during the year | 0 |
| 3 | Disposed of during the year | 0 |
| 4 | Remaining unresolved at the end of the year | 0 |
There are no outstanding complaints as on March 31,2026.
Venture Capital and Corporate Investments Private Limited is the Registrar & Share Transfer Agent of the Company. Members may contact the RTA for resolving any query related to shares or for effecting transfer of shares, etc.
| Name of Registrars & Transfer Agent | Venture Capital and Corporate Investments Pvt. Ltd., |
| Address | AURUM, D No.4-50/P-II/57/4F & 5F, 4th & 5th Floors, Plot No.57, Jayabheri Enclave Phase - II, Gachibowli, Serilingampally, Hyderabad - 500 032, Ranga Reddy Dist., Telangana. |
| Phone | 040-23818475/476 |
| Website | www.vccipl.com |
| investor.relations@vccipl.com |
There are no qualifications, reservations or adverse remarks made by the Statutory Auditors in their report.
Your directors sincerely thank the bankers, business associates, consultants and various government authorities for the continued support extended by them to the Company during the year under review. Your directors also acknowledge the support of the shareholders and confidence reposed by them in your Company and place on record their appreciation and gratitude for the same.
For and on behalf of Board of Directors of Bhudevi Infra Projects Limited
Sd/- Bhasker K Bhatt Chairman & Managing Director DIN:09463033
Sd/- Madhav B Bhatt DIN:09486950
Date: September 02, 2026 Place: Hyderabad
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IIFL Capital Services Limited - Stock Broker SEBI Regn. No: INZ000164132 (Member ID - NSE: 10975 BSE: 179 MCX: 55995 NCDEX: 01249), DP SEBI Reg. No. IN-DP-185-2016, PMS SEBI Regn. No: INP000002213, IA SEBI Regn. No: INA000000623, Merchant Banker SEBI Regn. No. INM000010940, RA SEBI Regn. No: INH000000248, BSE Enlistment Number (RA): 5016, AMFI-Registered Mutual Fund Distributor & SIF Distributor
ARN NO : 47791 (Date of initial registration – 17/02/2007; Current validity of ARN – 08/02/2027), PFRDA Reg. No. PoP 20092018, IRDAI Corporate Agent (Composite) : CA1099
This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.
