Garnet Construction Names New Leaders After Managing Director Dies

Garnet Construction Ltd. reported FY25 revenue of ₹19.4 Cr, with a market capitalization of approximately ₹122 Cr.

Key Announcements

Garnet Construction Ltd. announced the passing of its Promoter, Managing Director, and Chief Financial Officer, Mr. Kishan Kedia, on February 22, 2026.
The company's Board of Directors convened on March 21, 2026, to formally acknowledge his demise and convey condolences.
Ms. Chahat Sanjaykumar Kedia was appointed as a new Director, subject to necessary approvals.
Ms. Nikita Poddar was appointed as the new Chief Financial Officer (CFO).

Mr. Kishan Kedia, a founder, held multiple key executive and promoter roles, including Managing Director and CFO, at Garnet Construction.
His passing leaves a significant leadership gap, making a swift transition crucial for ongoing operations.
The board's quick appointments aim to maintain operational stability and strategic direction.

Garnet Construction Ltd. has been active in the Indian real estate development sector for over three decades, established in 1992.
The company focuses on self-funded projects across residential, commercial, and industrial segments, emphasizing disciplined execution.
Mr. Kedia was instrumental in the company's growth and governance, holding a substantial 29.37% stake.
His sons, Arun Kedia and Sanjay Kedia, are also part of the company's management and board, suggesting a familial succession framework.

The company has appointed a new Chief Financial Officer and an additional Director.
Ms. Chahat Kedia's appointment as Director is expected to add fresh perspectives to the board's oversight.
Ms. Nikita Poddar, as the new CFO, will be critical for managing the company's finances and strategic planning.
Shareholder confidence will depend on how smoothly the new leaders integrate and the company maintains its operational performance.

Garnet Construction's immediate challenge is to fill the void left by Mr. Kedia's extensive responsibilities.
A seamless succession plan and clear communication are vital for maintaining stakeholder trust and operational momentum.
The company must show it can continue its growth and strategic execution without its founding leader.

The successful integration of Ms. Chahat Kedia and Ms. Nikita Poddar into their new leadership roles.
The company's financial performance and strategic direction under the new leadership structure.
Any further announcements from the board regarding long-term succession planning or governance updates.