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Godrej 101 Sector 79, Gurgaon Godrej Sky Ghodapdeo 4th Cross Rd, Ferbandar, Ghodapdeo, Byculla East, Byculla, Mumbai, Maharashtra 400033 Godrej Vihaa Neral- Maharashtra Industrial Godrej Avenues, development corporation Yelahanka – Doddaballapur Main Road, Besides Usha Kiran Residency, Near BMS Institute of Technology, Neral-Badlapur Rd, Yelahanka, Bengaluru – 560089. Maharashtra 421502 Godrej Eternity Godrej Infinity Holiday Village Road, Oxford Group, Near Sri Kumaran’s School, Building B, 3rd Floor, 501, Off Kanakapura Main Road, Mallasandra, Kensington Court, 5th Lane, Bengaluru – 560062 Koregaon Park, Pune - 411 001 CONTENTS Vision .............................................................................................................................. 02 The Year That Was .......................................................................................................... 04 Company Information ...................................................................................................... 06 Awards & Recognition ..................................................................................................... 08 Chairman’s Message ....................................................................................................... 10 Managing Director’s Message .......................................................................................... 12 Management Discussion and Analysis ............................................................................. 14 Directors Report and Annexures ...................................................................................... 31 Report on Corporate Governance .................................................................................... 74 Business Responsibility Report ........................................................................................ 99 Standalone Financials ...................................................................................................... 115 Consolidated Financials ................................................................................................... 166 Notice and Explanatory Statement ................................................................................... 220 This annual report is printed on Eco-Friendly Paper VISION 02 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2015-16 We aspire to be the nation’s leading and most trusted real estate company. We shall deliver superior value to all stakeholders through extraordinary and imaginative spaces and service created out of deep customer focus and insight. Actual photograph of Mangroves at Vikhroli 03 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2015-16 THE YEAR THAT WAS GPL’s BEST EVER FINANCIAL YEAR (FY2016 1argest ever enduser commercial real estate PERFORMANCE OVERVIEW COMPARED transaction in India WITH FY2015) 5rice of INR 365840 per sVuare meter is the highest Recorded highest ever Total Income EBITDA 5BT price achieved on any maOor commercial real estate & 5AT deal in Mumbai in the recent past Total income increased by 42 to INR 2728 crore THE TREES, VIKHROLI compared to INR 1927 crore Most successful launch in G51’s history EBITDA increased by 30 to INR 445 crore from INR 341 crore Sold 470 apartments across two phases 5BT increased by 27 to INR 414 crore compared Total sales of 58897 sVuare meters at an average to INR 326 crore price of INR 207819 per sVuare meter with a booPing value of INR 1224 crore Net proÁt increased by 21 to INR 231 crore from INR 191 crore GODREJ FUND MANAGEMENT FY16 SALES HIGHLIGHTS Established GodreO Fund Management GFM a dedicated fund management subsidiary of G51 -ighest ever sales in a Ánancial year booPing value of INR 5038 crore is the highest achieved by any GFM raised :SD 275 million for GodreO Residential publicly listed real estate developer in India in FY16 Investment 5rogram II GRI5 II -ighest number of new proOect launches in the 1everages the strength of our brand and operational history of G51 capabilities to access exciting new opportunities 88 YoY growth in booPings despite weaP marPet STRONG FOCUS ON EXECUTION conditions Delivered 0.56 million sVuare meters in FY16 which CONTINUED SUCCESS IN BUSINESS includes 0.39 million sVuare meters of residential DEVELOPMENT and 0.17 million sVuare meters of commercial space across eight cities in FY16 Added 4 new proOects with 0.63 million sVuare meters of saleable area OTHER HIGHLIGHTS Entered the Noida and Thane marPets G51 has cofounded the Sustainable -ousing 1eadership Consortium S-1C to promote GODREJ BKC DEAL sustainable development in India Sold 40428 sVuare meters at GodreO B0C Mumbai 9 proOects received green building certiÁcations for INR 1479 crore 49 awards received in FY16 04 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2015-16 The Trees, Vikhroli 05 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2015-16 COMPANY INFORMATION DIRECTORS: REGISTERED OFFICE Mr. Adi B. GodreO GodreO 4ne 5th Floor Chairman 5iroOshanagar Eastern Express -ighway ViPhroli East Mr. 5iroOsha GodreO Managing Director & Chief Executive 4fÁcer Mumbai – 400 079 5hone 91226169 8500 Mr. Mohit Malhotra Website www.godreOproperties.com Executive Director CIN 174120M-198551C035308 Mr. /amshyd N. GodreO Director REGISTRAR & TRANSFER AGENT Mr. Nadir B. GodreO 0arvy Computershare 5rivate 1imited Director µ0arvy Selenium Tower B¶ Ms. 5armeshwar A. GodreO 5lot No. 31 & 32 Gachibowli Director Financial District NanaPramguda Mr. Amit B. Choudhury Serilingampally Director -yderabad – 500 008 Telangana Mr. 0ePi B. Dadiseth Director STATUTORY AUDITORS Mrs. 1alita D. Gupte 0alyaniwalla & Mistry Director Chartered Accountants 0alpataru -eritage Mr. Amitava MuPherOee 127 Mahatma Gandhi Road Director Mumbai 400 001 Mr. S. Narayan Director BANKERS Dr. 5ritam Singh State BanP of India Director IDBI BanP 1td. Mr. 5ranay VaPil -DFC BanP 1td. Director COMPANY SECRETARY & CHIEF LEGAL OFFICER Mr. Surender Varma 06 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2015-16 Godrej Icon, Gurgaon 07 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2015-16 AWARDS & RECOGNITION Awards received by Godrej Properties during FY2015-16: Best Developer of the Year 2015 Construction Times Awards 2015 Innovation & Excellence in Real Estate – India Corporate 1iveWire’s 2015 Innovation & Excellence Awards Most Reliable Builder in terms of best legal CNBC BaOar GuOarat Real Estate Awards practice Ranked amongst India’s Top 50 companies to RanPed 48 in the overall category work for in 2014 - In a study by ‘The Great Places to Work Institute’ and ‘The Economic Times’ Decade of Excellence - Amongst the Top Construction World Awards Builders of the Country over the past 10 years Real Estate Company of the Year Construction WeeP India Awards 2015 Brand Excellence Award in Real Estate Sector Brand Excellence Awards 2015 Best Real Estate Development Company – India 2015 Real Estate & 5roperty Awards by Build Maga_ine :0 Developer of the Year - Residential Realty 5lus Excellence Awards South 2015 Businessworld - Most Admired Companies in 4ne of only 3 real estate companies listed in the India ranPing of India’s 55 most admired companies Golden Peacock Award for Sustainability Institute of Directors Professional Excellence in Real Estate AB5 News Real Estate Awards Corporate Governance of the Year 30th National Real Estate Awards 2015 by Accommodation Times Vibrations - GPL’s internal newsletter Gold in the Best Illustration in Newsletters category NIB AWARDS 2016 by the 5ublic Relations Council of India 5RCI Storey Times – GPL’s internal magazine Gold in the Best 1ayout in eMaga_ine NIB AWARDS 2016 by the 5ublic Relations Council of India 5RCI GPL Design Studio Blue Elephant at the 0yoorius Design Awards 08 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2015-16 PROJECT AWARDS Godrej One, Mumbai Commercial Building of the year Award NDTV 5roperty Awards 2015 The Trees, Mumbai Mixed :sed Development of the Year Asian Customer Engagement Forum ACEF 5roperty Awards Godrej Garden City, Ahmedabad Realty 5lus Excellence Awards GuOarat 2015 – ·Innovative MarPeting Concept of the Year Award’ for the campaign carried out during the Navratri period Integrated Township of the year – Realty 5lus Excellence Awards GuOarat 2015 Township 5roOect of the Year – Asian Customer Engagement Forum ACEF 5roperty Awards Achievement Award for Construction -ealth Safety and Environment 8th CIDC VishwaParma Awards 2016 Godrej Summit, Gurgaon Achievement Award for Construction -ealth Safety and Environment 8th CIDC VishwaParma Awards 2016 Godrej Icon, Gurgaon Best Innovative 5roOect 4f The Year Residential North India 3rd North India Real Estate Awards Godrej BKC, Mumbai Golden 5eacocP Award 4ccupational -ealth & Safety Award 2015 Gold Award in Construction category for Safety 14th Annual Greentech Safety Award 2015 Godrej Prime, Mumbai MarPeting Campaign of the Year National Award for MarPeting Excellence 2015 Godrej 101, Gurgaon Innovative MarPeting Concept of the year Realty 5lus Excellence Awards North 2015 Themed proOect of the year Realty 5lus Excellence Awards North 2015 Godrej Horizon, Pune Best Residential 5roOect Construction WeeP India Awards 2015 Mid Segment proOect of the year Realty 5lus Excellence Awards West 2015 CertiÁcate of Merit National Safety Council Silver trophy for Construction safety award 5une Construction Engineering Research Foundation Excellence in Delivery Award Realty 5lus Excellence awards 5une edition Godrej Prana, Pune Themed proOect of the year Realty 5lus
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