General Updates

November 06, 2026 BSE Limited : Code No. 544042 Department of Corporate Services, Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai- 400001 National Stock Exchange of India Limited : BAJEL – Series: EQ Listing Department Exchange Plaza, Bandra Kurla Complex, Bandra (East), Mumbai- 400 051 Dear Sir/Madam, Sub.: Grant of 2,50,000 (Two Lakhs Fifty Thousand Only) Stock Options under the Bajel Projects Limited Employee Stock Option Plan 2024’ (“ESOP 2024”/ “Scheme”) Disclosure under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (“SEBI Listing Regulations”). Pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (“SEBI Listing Regulations”), we wish to inform that the Nomination and Remuneration Committee of the Company ("NRC/Committee”) at its meeting held today i.e. on November 06, 2026, has approved a total grant of 2,50,000 (Two Lakhs Fifty Thousand Only) stock options under Bajel Projects Limited – Employee Stock Options Plan-2024 (“ESOP 2024”/ “Scheme”) to the eligible employees of the Company. Pursuant to Regulation 30 of SEBI Listing Regulations (read with SEBI Master Circular No. HO/49/14/14(7)2025 -CFD-POD2/I/3762/2026 dated January 30, 2026. (Annexure A). We request you to take the above on record and that the same be treated as compliance under the applicable provisions of the SEBI PIT Regulations and Company’s Code. Thanking you, Yours faithfully, For Bajel Projects Limited Amee Bharatbhai Joshi Company Secretary & Chief Compliance Officer (Membership No.: A22502) Annexure A Pursuant to Regulation 30 of SEBI Listing Regulations (read with SEBI Master Circular No. HO/49/14/14(7)2025 -CFD-POD2/I/3762/2026 dated January 30, 2026 a) Brief details of options granted; 2,50,000 (Two Lakhs Fifty Thousand Only) Employee Stock Options (“Options”) under the Bajel Projects Limited – Employee Stock Options Plan, 2024 (“ESOP 2024” / “Scheme”) granted to the 06 (Six) eligible employees as determined by the Nomination and Remuneration Committee. b) Whether the scheme is in terms Yes, the Scheme is in compliance with the SEBI (Share Based Employee of SEBI (SBEB) Regulations, 2021 Benefits and Sweat Equity) Regulations, 2021. (if applicable); c) Total number of shares covered 2,50,000 (Two Lakhs Fifty Thousand Only) stock options each by these options; exercisable into not more than 2,50,000 (Two Lakhs Fifty Thousand Only) equity shares of face value of ₹2 (Rupee two Only) each fully paid- up subject to the terms and conditions specified under the Scheme. d) Pricing formula; The aforesaid Options have been granted at an Exercise Price of ₹ 100.95 per option as approved by the Nomination and Remuneration Committee. [Exercise Price calculated as a discount on the closing price on BSE where the traded volume in the Company’s share was higher on November 05, 2026, i.e. the last trading date previous to the date of the Committee Meeting]. e) Options vested; Nil f) Time within which option may The vested Options shall be exercisable within a be exercised; maximum period of 7 years from the date of first Vesting of Options. g) Options exercised; Nil h) Money realized by exercise of Nil options; i) The total number of shares Nil arising as a result of exercise of option; j) Options lapsed; Nil k) Variation of terms of options; Not Applicable l) Brief details of significant • The Scheme also provides for the manner in which terms; Stock Options would be dealt with in case of death, permanent incapacity, resignation, termination, retirement etc. • The equity shares allotted, pursuant to the exercise of the Stock Options, would not be subject to lock- • The aforesaid Options shall vest not earlier than minimum period of 1 (one) year and not later than maximum period of 5 (five) years from the Grant Date. m) Subsequent changes or Not Applicable cancellation or exercise of such options; n) Diluted earnings per share Not Applicable as options are yet to be exercised. pursuant to issue of equity shares on exercise of options.