CONTENTS
Vision ...... 02
The Year That Was ...... 04
Company Information ...... 06
Awards & Recognition ...... 08
Executive Chairman’s Message ...... 12
Management Discussion and Analysis ...... 16
Directors Report and Annexures ...... 30
Report on Corporate Governance ...... 75
Business Responsibility Report ...... 92
Standalone Financials ...... 104
Consolidated Financials ...... 175
Notice and Explanatory Statement ...... 250
This annual report is printed on Eco-Friendly Paper VISION
02 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18 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.
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03 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18 THE YEAR THAT WAS
FI5(5*0(3/0./30./;: *SYJWJINSYTFIJFQ\NYM,TIWJO+ZSI2FSFLJRJSY ,+2YTXJQQ XYFPJNS,TIWJO9\T ,51¸X YTYFQ .SHTRJ NSHWJFXJI G^ YT .37 2,397 crore from INR 1,733 crore )<:05,::+,=,3674,5; *'.9)&NSHWJFXJIG^ YT.37HWTWJKWTR 'JXYJ[JW^JFWKTWGZXNSJXXIJ[JQTURJSY&IIJI INR 403 crore SJ\UWTOJHYX\NYMXFQJFGQJFWJFTKRNQQNTS 3JYUWTÁYNSHWJFXJIG^ YT.37HWTWJKWTR sq. ft. INR 207 crore TKYMJFWJFFIIJINS+> NXNSUFWYSJWXMNU ,JSJWFYJI.37 HWTWJTKSJYTUJWFYNSLHFXM with other developers ÂT\QJFINSLYTFIJGYWJIZHYNTSTK.37HWTWJ &QQYMJUWTOJHYXFIIJIFWJNSYMJKTZWQFWLJXYWJFQ :(3,:/0./30./;: estate markets in India -NLMJXY J[JW XFQJX NS F ÁSFSHNFQ ^JFW G^ ,51 :<:;(05()030;@/0./30./;: booking value of INR 5,083 crore is the highest booking value achieved by any publicly listed real ,51\FXWFSPJInd in Asia & 6th globally by GRESB estate developer in India in FY18 ,QTGFQ 7JFQ *XYFYJ 8ZXYFNSFGNQNY^ 'JSHMRFWP &S NSIZXYW^IWN[JS TWLFSN_FYNTS \MNHM FXXJXXJX 9TYFQ [FQZJ TK GTTPNSLX NS +> XYTTI FY .37 Environmental, Social and Governance (ESG) HWTWJ \MNHM WJUWJXJSYX F ^JFWTS performance of real estate assets globally. year increase GRESB is committed to rigorous and independent )JQN[JWJIXFQJXTKRTWJYMFS.37HWTWJNS evaluation of the sustainability performance of real each of the four quarters of FY18 estate assets across the globe
+TWYMJÁWXYYNRJ,51JRJWLJIFRTSLXYYMJYTU ,TIWJO,FWIJS(NY^MFIYMJINXYNSHYNTSTKWJHJN[NSL three developers by value of real estate sold in 5QFYNSZRHJWYNÁHFYNTSG^YMJ.SINFS,WJJS'ZNQINSL each of the four focus markets of Mumbai, NCR, Council. The IGBC Green Residential Society 'FSLFQTWJFSI5ZSJ 5QFYNSZR HJWYNÁHFYNTS NX WJHTLSN_JI FX YMJ 8TQIRTWJYMFSRNQQNTSXVKY\NYMFGTTPNSL highest rating for residential societies and with value of over INR 800 crore in each of the four YMNX FHMNJ[JRJSY ,TIWJO ,FWIJS (NY^ GJHTRJX focus markets viz. Mumbai, NCR, Bangalore and the largest township in India to be IGBC Green 5ZSJ 7JXNIJSYNFQ8THNJY^5QFYNSZRHJWYNÁJI 8FQJXKWTRJ]NXYNSLNS[JSYTW^XYTTIFY.37 IJ[JQTURJSYX WJHJN[JI LWJJS GZNQINSL crore in FY18 as compared to INR 1,052 crore in HJWYNÁHFYNTSX FY17 6;/,9/0./30./;: *644,9*0(37961,*;: )JQN[JWJIcRNQQNTSXVKYFHWTXXHNYNJXNS+> +> XFQJXFY,TIWJO'0(XYTTIFY.37 HWTWJ leading to remaining inventory of only ~ 51,000 sq. ft. F\FWIXWJHJN[JINS+>
04 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18 .VKYLQ)2*4\TIHP
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(J[\HS0THNL 05 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18 COMPANY INFORMATION
2W&IN',TIWJO 9,.0:;,9,+6--0*, Chairman Emeritus ,TIWJO4SJth Floor, +09,*;69:! 5NWTOXMFSFLFW*FXYJWS*]UWJXX -NLM\F^;NPMWTQN *FXY 2W5NWTOXMF,TIWJO Mumbai – 400 079 Executive Chairman 5MTSJ 2W/FRXM^I3,TIWJO 9,.0:;9(9 ;9(5:-,9(.,5; 3TS*]JHZYN[J)NWJHYTW 0FW[^(TRUZYJWXMFWJ5WN[FYJ1NRNYJI 2W3FINW',TIWJO µ0FW[^8JQJSNZR9T\JW'¶ 3TS*]JHZYN[J)NWJHYTW 5QTY3T ,FHMNGT\QN Financial District, Nanakramguda, Mr. Amit B. Choudhury Serilingampally, Independent Director -^IJWFGFI³9JQFSLFSF 2W0JPN')FINXJYM Independent Director :;(;<;69@(<+0;69: 2WX1FQNYF),ZUYJ '87 (T115 Independent Director 5th+QTTW1TIMF*]HJQZX Apollo Mills Compound, 2W&RNYF[F2ZPMJWOJJ N. M. Joshi Marg, Mahalaxmi, Independent Director 2ZRGFN )W5WNYFR8NSLM Independent Director )(52,9: State Bank of India 2W5WFSF^;FPNQ Independent Director .)'.'FSP1YI -)+('FSP1YI *647(5@:,*9,;(9@ */0,-3,.(3 6--0*,9 Mr. Surender Varma 06 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18 .VKYLQ7SH[PU\T2VSRH[H (J[\HSPTHNL (J[\HS0THNL 07 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18 AWARDS & RECOGNITION (^HYKZYLJLP]LKI`.VKYLQ7YVWLY[PLZPU-@ .VSKLU7LHJVJR5H[PVUHS8\HSP[`(^HYKµ Institute Of Directors India's 27th World Congress on Business Excellence and Innovation )LZ[+L]LSVWLYVM[OL`LHY Construction Times Builders Award 2017 9LJVNUP[PVUMVYZOHWPUN[OLPUK\Z[Y`JYLH[PUN IFC Times Network Strategy Award \UPX\LWVZP[PVUPUNHUKHS[LYPUN[OLIHZPZVM JVTWL[P[PVUMVY*VUZ[Y\J[PVU9LHS,Z[H[LHUK :[LLS 9LHS,Z[H[L*VTWHU`VM[OL@LHY &5&(.SXNIJW 0UKPHZ;VW)\PSKLYZ(^HYK CWAB Awards 2017 9\UULYZ\W[YVWO`MVY,_JLSSLUJLPU (54&\FWIX 7YVJ\YLTLU[:\Z[HPUHIPSP[` +L]LSVWLYVM[OL`LHY ,TQIJS'WNHPX&\FWIX :LJ[VYHS7YVJ\YLTLU[,_JLSSLUJL*VUZ[Y\J[PVU 5th5WTHZWJRJSY*]HJQQJSHJ&\FWIX 9LHS,Z[H[L )LZ[9LHS,Z[H[L+L]LSVWTLU[7HY[ULY0UKPH Business Vision Awards 2017 6\[Z[HUKPUN*VU[YPI\[PVUPU9LHS,Z[H[L:LJ[VY 5th National Conference Resident Welfare &XXTHNFYNTSX 3(7<&*]MNGNYNTS2ZRGFN 3LHKLYPU:\Z[HPUHISL9LHS,Z[H[L+L]LSVWTLU[Z ,WTMJ-ZWZS7JUTWY 0UKPHZ4VZ[;Y\Z[LK9LHS,Z[H[L)YHUK IBB Awards 2018 +L]LSVWLYVM[OL@LHY 6ZNPW-TRJX7JFQY^+FHY&\FWIX ,_JLSSLUJLPU9LHS,Z[H[Lµ0UKPH Corporate Insider .VKYLQ7YVWLY[PLZ/9[LHT ,TQI KTW µ:3.6:* -7 .3.9.&9.;*¶ th Annual (TWUTWFYJ(TQQFYJWFQF\FWIXG^57(. 08 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18 AWARDS & RECOGNITION 7YVQLJ[ 0UKP]PK\HS(^HYKZYLJLP]LKPU-@ .VKYLQ6UL=PROYVSP *RJWXTS(ZUF\FWIKTW .,'(,WJJS3J\'ZNQINSLX(FYJLTW^ .SYJWSFYNTSFQ *SLNSJJWNSL 8THNJY^ TK 3TWYM &RJWNHF .*83& MFX UWJXJSYJI &<& 1NLMYNSL )JXNLSJWX &\FWI TK 2JWNY KTW YMJ ,TIWJO4SJUWTOJHYNSWJHTLSNYNTSTKRJWNYTWNTZXHTSYWNGZYNTSYTQNLMYNSL design .73+LZPNU:[\KPV /TNSY \NSSJW 9MJ ,TQI 5WN_J FY >ZFS >J &\FWI .SYJWSFYNTSFQ Competition 2017 /TNSY\NSSJWHTRRJSIFYNTSNSYMJ-JWNYFLJ&WHMNYJHYZWJHFYJLTW^FY the Grohe NDTV Design & Architecture Awards 2017 .VKYLQ.HYKLU*P[`(OTLKHIHK 'JXY9T\SXMNU5WTOJHY&\FWITKYMJ>JFW (TSXYWZHYNTS9NRJX Awards 2018 .VKYLQ6YPNPUZ=PROYVSP .SST[FYN[J 2FWPJYNSL (FRUFNLS TK YMJ >JFW &XNF 7JFQ *XYFYJ Excellence awards 2017 .VKYLQ7\UL .SST[FYN[J(TSHJUY5WTOJHYTKYMJ^JFW,TQIJS'WNHPX&\FWIX .VKYLQ0UÂUP[`7\UL 8NQ[JWKTW·5WN[NQJLJXFWJST\02&\F^¸HFRUFNLS22&82&79.*8 India Awards 2017 .VKYLQ7YHUH7\UL0.VKYLQ 3FYNTSFQ8FKJY^(TZSHNQ 0UÂUP[`7\UL .VKYLQ 09 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18 AWARDS & RECOGNITION 7YVQLJ[ 0UKP]PK\HS(^HYKZYLJLP]LKPU-@ .VKYLQ7YHRYP[P2VSRH[H .SYJLWFYJI9T\SXMNU5WTOJHYTKYMJ>JFWth7JFQY^5QZX*]HJQQJSHJ Awards EAST 2018 Silver at IDMA 2017 for best Digital Innovation in the Best Digital Direct Response Campaign category for its campaign "Feel the Greens" .VKYLQ.LULZPZ2VSRH[H 'JXYHTRRJWHNFQUWTOJHYNSYMJ*FXY?TSJth(3'(&<&&?7JFQ Estate Awards .VKYLQ(a\YL0.VKYLQ0UÂUP[`0 (TSXYWZHYNTS -JFQYM 8FKJY^ *S[NWTSRJSY (4)*. th CIDC ;OL;YLLZ0.VKYLQ(YPH0.VKYLQ Vishwakarma Awards 0.VKYLQ 010 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18 .VKYLQ4LYPKPLU.\YNHVU (Y[PZ[ºZPTWYLZZPVU5V[HUHJ[\HSZP[LWOV[VNYHWO 011 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18 MESSAGE FROM THE EXECUTIVE Pirojsha Godrej CHAIRMAN Executive Chairman, ,TIWJO5WTUJWYNJX FY18 has been the best ever year for Godrej Properties on three very important operating parameters: sales, operating cash flows, and business development. Sales in FY18 grew by 152% to INR 5,083 crore, ensuring it was GPL’s best ever year in terms of the value of real estate we sold. As a result, we have once again emerged as the largest publicly listed developer in India by sales value in FY18. Dear Shareholders, To deliver outstanding experiences for our customers, our employees must be engaged and empowered to deliver I am happy to report that FY18 has been a year of great their best. For the most senior members of our team, who progress at your company, both in terms of operational results comprise the management committee of the business, we’ve and improvements to business standards. We continue NSYWTIZHJI QTSLYJWR NSHJSYN[JX YMWTZLM \MNHM YMJ^ HFS to focus our energies on customer centricity, employee JFWSZUYTYJSYNRJXYMJNWHZWWJSYNS^JFWHTRUJSXFYNTSNKYMJ JSLFLJRJSYFSIGZNQINSLTUJWFYNTSFQXHFQJFSIJKÁHNJSH^ organization generates shareholder value that far exceeds our &XYMJVZFQNY^TKWJFQJXYFYJUWTOJHYXNS.SINFMFXNRUWT[JIT[JW industry peers. Similarly, for all employees, we’ve introduced the past decade, customer expectations have also evolved. incentive systems that disproportionately reward outstanding Consumers want and expect more from leading developers, value creation. We continue to focus on diversity and inclusion both in terms of design quality and service experience. At NSNYNFYN[JXYTFYYWFHYYMJGJXYYFQJSYYT,TIWJOFSIJSXZWJ\J ,TIWJO5WTUJWYNJX\JPST\YMFYTZWFGNQNY^YTIWN[JHZXYTRJW KTXYJWFXZUUTWYN[JJS[NWTSRJSYKTWFQQ+TWJ]FRUQJ ,TIWJO [FQZJ NS UWTIZHY FSI XJW[NHJ \NQQ GJ YMJ RTXY XNLSNÁHFSY UFWYSJWJI \NYM YMJ :SNYJI 3FYNTSX -ZRFS 7NLMYX 4KÁHJ YT IJYJWRNSFSY TK ^TZW HTRUFS^¸X XZHHJXX +TW YMJ ÁWXY YNRJ launch global standards for businesses to tackle discrimination YMNX ^JFW \J MF[J NSYWTIZHJI YMJ HZXYTRJW 3JY 5WTRTYJW FLFNSXY1,'9.UJTUQJ \J\NQQ\TWPYTJSXZWJNSHQZXN[NY^NXF 8HTWJ 358FHZXYTRJWWFYNSLTKTZWUJWKTWRFSHJFXFPJ^ HMJWNXMJIUWNSHNUQJGTYMFY,TIWJOFSIYMJGWTFIJWHTWUTWFYJ component of every employee’s goals and incentives. This community. We are also proactively building gender balanced reinforces a mindset that puts the customer at the center of teams, by performing a rigorous wage gap audit and creating J[JW^IJHNXNTS\JRFPJFY,TIWJO5WTUJWYNJX programs that help new mothers transition smoothly back to work after maternity leave. 012 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18 One important area of pride and motivation for our team at trainings, and efforts to reduce dengue and malaria infections. ,TIWJONXTZWKTHZXTSHTWUTWFYJXTHNFQWJXUTSXNGNQNY^ 2FSNXM3FN,TIWJO'0(2ZRGFN 8ZGTIM,ZUYF,TIWJO'0(2ZRGFN 013 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18 'JJI UWTZIYTGJFXUTSXTWTKYMJ2FIMF[JSIWF8HZQUYZWJ5FQFHJ +> MFXGJJSYMJGJXYJ[JW^JFWKTW,TIWJO5WTUJWYNJXTS FY3FMFWLFWM+TWYTSJTK.SINF¸XÁWXYXHZQUYZWJUFWPXQTHFYJI YMWJJ [JW^ NRUTWYFSY TUJWFYNSL UFWFRJYJWX XFQJX TUJWFYNSL within an iconic fort in Jaipur. HFXMÂT\XFSIGZXNSJXXIJ[JQTURJSY8FQJXNS+> LWJ\ 1FXY^JFW\JMFIFQJFIJWXMNUYWFSXNYNTS\NYMR^HTQQJFLZJ G^ YT.37 HWTWJJSXZWNSLNY\FX,51¸XGJXYJ[JW 2TMNYYFPNSLT[JWFX(*4TK,TIWJO5WTUJWYNJX9MNXYWFSXNYNTS year in terms of the value of real estate we sold. It was also the has been seamless, and Mohit, along with his extremely ÁWXYYNRJ\JXTQIT[JW.37HWTWJ\TWYMTKXUFHJNSJFHM capable management team, has delivered a record year. At TKYMJKTZWVZFWYJWXNSYMJÁSFSHNFQ^JFW&XFWJXZQY\JMF[J YMJXYFWYTKYMJQFXYÁSFSHNFQ^JFW\JXJYY\TUWNRFW^ÁSFSHNFQ once again emerged as the largest publicly listed developer in YFWLJYX YMFY \J MTUJI YT IJQN[JW \NYMNS Á[J ^JFWX 9MJXJ India by sales value in FY18. We are especially pleased with \JWJÁWXYYTJXYFGQNXMTZWXJQ[JXFXHTSXNXYJSYQ^FRTSLYMJ this sales performance given that sales for the industry as a top three developers by value of real estate sold in each of \MTQJMF[JIJHQNSJIIZWNSLYMJÁSFSHNFQ^JFW the four largest real estate markets in the country – Mumbai, 8FQJXKWTRJ]NXYNSLNS[JSYTW^MF[JGJJSUFWYNHZQFWQ^J]HNYNSL 'FSLFQTWJ 3(7 FSI 5ZSJ ³ FSI XJHTSI YT ITZGQJ TZW our performance more than doubled, to INR 2,780 crore. That WJYZWSTSJVZNY^YT .FRMFUU^YTWJUTWYYMFY\JMF[J allowed a greater percentage of cash collection from each made strong progress on these targets. Your company has sale, which in turn led to our best ever collections performance already achieved a position among the top three developers TKSJFWQ^.37HWTWJFSNSHWJFXJTK T[JW+> &X in each of the four largest markets in FY18, with a leadership a result, we have generated INR 1,868 crore of net operating UTXNYNTSNS3(7FSZRGJWY\TUTXNYNTSNS2ZRGFNFSI5ZSJ HFXM ÂT\ NS +> \MNHM FQQT\JI ZX YT WJIZHJ IJGY G^ and a number three position in Bangalore. We sold more than INR 653 crore while continuing to rapidly grow the company’s 1.25 million sq. ft. with a booking value of over INR 800 crore development portfolio. NSJFHMTKTZWKTZWKTHZXRFWPJYXGJHTRNSLYMJÁWXYIJ[JQTUJW .S+> \JFIIJIRTWJSJ\UWTOJHYXYMFSNSFS^UWJ[NTZX in India to achieve this scale across multiple geographies. ^JFW,51FIIJISJ\UWTOJHYX\NYMFYTYFQXFQJFGQJFWJF & HTRGNSFYNTS TK WTGZXY XFQJX XNLSNÁHFSY SJ\ GZXNSJXX TK RNQQNTS XV KY 2TWJ YMFS TK YMJ FWJF FIIJI NS IJ[JQTURJSY FSI NRUWT[JI TUJWFYNSL HFXM ÂT\X JSXZWJI FY18 is in partnership with other real estate developers, and YMFY+> \FXFXZGXYFSYNFQÁWXYXYJUYT\FWIXIJQN[JWNSLTS FQQTKYMJXJUWTOJHYXFWJNSYMJKTZWQFWLJXYWJFQJXYFYJRFWPJYX TZW 74*LTFQ in India. 014 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18 The Indian real estate sector has undergone a lot of disruption, YTGJTSJTKYMJKFXYJXYLWT\NSLRFOTWXJHYTWX&SI\NYMNSYMJ starting with demonetization in 2016, and continuing with the real estate sector, given our brand, our national presence, and Real Estate Regulatory Act (RERA), and GST being introduced our strong team and capabilities, we are as well placed as any NSYMJQFXYÁSFSHNFQ^JFW9MJXJRJFXZWJXFWJMJQUNSLYTIWN[J other company to capture this opportunity. consolidation in the sector. A weak property market and 4ZW YJFR FY ,TIWJO 5WTUJWYNJX NX FS J]HJUYNTSFQ LWTZU increasing customer preference for stronger developers of talented individuals and I am grateful to them for their has created an unprecedented business development tremendous efforts and outstanding results. We would like opportunity for developers with strong customer franchises YTYMFSPTZWHZXYTRJWXOTNSY[JSYZWJUFWYSJWXFSIGZXNSJXX FSIIJ[JQTURJSYHFUFGNQNYNJX,51NX\JQQUQFHJIYTHFUNYFQN_J associates for their support. Finally, thanks to you, our on these opportunities in the business development space. XMFWJMTQIJWXKTW^TZWHTSYNSZJIGJQNJKNS,TIWJO5WTUJWYNJX 9TJSXZWJ\JMF[JYMJÁSFSHNFQWJXTZWHJX\JSJJIYTUZWXZJ rapid growth in the coming years, your company successfully Best Wishes, raised INR 1,000 crore of equity capital in June 2018 from a leading global investor. 7PYVQZOH.VKYLQ Your company has a tremendous opportunity. India is likely to Executive Chairman GJYMJKFXYJXYLWT\NSLRFOTWJHTSTR^NSYMJ\TWQIT[JWYMJ ,TIWJO5WTUJWYNJX next two decades. Within India, the real estate sector is likely 015 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18 MANAGEMENT ).8(:88.43 &3&1>8.8 .36)(3,*6564@ According to The World Economic Outlook (WEO) update around 120 economies, FHHTZSYNSLKTWYMWJJVZFWYJWXTK\TWQI,)5XF\FUNHPZUNSLWT\YMNS^JFWTS^JFWYJWRX in 2017, the broadest synchronized global growth upsurge since 2010. Global output is estimated to have grown by 3.7 percent in 2017. The International Monetary Fund has WFNXJINYXLWT\YMKTWJHFXYXKTW YT J]UJHYNSLYMJLQTGFQJHTSTR^YTHTSYNSZJYT recover on the back of buoyant trade and investment. &RTSL FI[FSHJI JHTSTRNJX YMJ :8 LWT\YM KTWJHFXY MFX GJJS WFNXJI KWTR YT NS 9MJ:8YF]UTQNH^HMFSLJXFWJJ]UJHYJIYTXYNRZQFYJFHYN[NY^\NYMYMJ XMTWYYJWRNRUFHYNSYMJ:SNYJI8YFYJXRTXYQ^IWN[JSG^YMJNS[JXYRJSYWJXUTSXJYTYMJ corporate income tax cuts. Growth rates for many of the euro area economies have been RFWPJI ZU JXUJHNFQQ^ KTW ,JWRFS^ .YFQ^ FSI YMJ 3JYMJWQFSIX WJÂJHYNSL YMJ XYWTSLJW momentum in domestic demand and higher external demand. Asia continues to be the main engine of the world’s economy, accounting for more than TK LQTGFQ LWT\YM´YMWJJVZFWYJWX TK NY HTRNSL (MNSF FSI .SINF FQTSJ UJW .2+¸X 7JLNTSFQ*HTSTRNH4ZYQTTP &XNFFSI5FHNÁH 7*4&XNFNXJ]UJHYJIYTLWT\FY NS XZUUTWYJIG^XYWTSLLQTGFQIJRFSIFX\JQQFXFHHTRRTIFYN[JUTQNHNJXFSI ÁSFSHNFQHTSINYNTSX&HHTWINSLYT9MJ.SYJWSFYNTSFQ2TSJYFW^+ZSI .2+.SINFNXUWTOJHYJI YTLWT\FY TKNYXLWTXXITRJXYNHUWTIZHY ,)5NS FXFLFNSXY(MNSF¸X making it the fastest growing economy among emerging economies. 016 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18 .VKYLQ(SP]L4\TIHPMANAGEMENT DISCUSSION & ANALYSIS (Y[PZ[ºZPTWYLZZPVU5V[HUHJ[\HSZP[LWOV[VNYHWO 05+0(5,*6564@ economy. According to the Deloitte Voice of Asia report, revival in rural demand and increased infrastructure spending After facing several headwinds over the previous year, Indian are key economic drivers that are likely to drive the economy’s JHTSTR^NXST\GFHPTSYWFHP9MJ(84WJUTWYJIF,)5 growth in the current year in spite of obstacles like rising debt th LWT\YM TK NS YMJ VZFWYJW TK YMJ KFXYJXY and the recent trade protectionism. After a year of disruptions pace in seven quarters. The economy grew at the highest rate and growth slowdown, the Indian economy is consolidating since the 2nd quarter of FY17, ahead of the demonetization the gains from the recent reforms and is moving in the right in November 2016. The turnaround in the economy was INWJHYNTS 017 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18 &HHTWINSL YT F (18& WJUTWY YMJWJ NX HZWWJSYQ^ ST QNXYJI The Indian residential real estate sector is at the cusp of a IJ[JQTUJW FHMNJ[NSL XFQJX TK :8 GS UJW FSSZR NS .SINF¸X LWFIZFQ IJRFSI WJ[N[FQ FNIJI G^ FKKTWIFGNQNY^ FY F ^JFW :8 GSWJXNIJSYNFQRFWPJY+WFLRJSYFYNTSNXMNLMSTYOZXY MNLMFSISJ\GZ^JWKWNJSIQ^WJLZQFYNTSXYMFYMF[JNSHWJFXJI FYFSFYNTSFQQJ[JQGZYFYFHNY^QJ[JQYTT-T\J[JWINXWZUYNTS YMJHTSÁIJSHJTKUWTUJWY^GZ^JWX.RUWT[JRJSYNSYMJHZWWJSY with demonetization in 2016 and the Real Estate Regulatory XZGIZJI OTG HWJFYNTSNSHTRJ LWT\YM TZYQTTP HTZQI QJFI Act (RERA) reform in 2017 has triggered accelerated to even faster growth. Developers with a scalable business consolidation. Customer preferences also have shifted model are better placed to grow market share in a regulatory towards better quality and branded developments. Access to cheaper capital has gained importance as working capital environment that demands greater accountability and requirements rise. The organized sector should be able to transparency from developers. more than double its market share of the residential property RFWPJYYTSJFWQ^ T[JWYMJSJ]YÁ[JYTXJ[JS^JFWX 9,:0+,5;0(39,(3,:;(;,4(92,; 9MJ(18&WJUTWYKZWYMJWHTRUFWJXYMJ.SINFSFSIYMJ(MNSJXJ &HHTWINSLYTUWTUJWY^WJXJFWHMÁWR0SNLMY+WFSPYMJ.SINFS real estate market. The top 10 Chinese developers accounted residential market breached new lows in terms of supply and KTW TKWJXNIJSYNFQUWTUJWY^XFQJXNSITZGQJYMJQJ[JQ sales in CY18. Clocking the largest percentage drop in supply TK NS 9MJYTUIJ[JQTUJWXMF[JXYJFINQ^ZYNQN_JIYMJNW volumes during this decade, the annual supply levels in the GFQFSHJXMJJYFI[FSYFLJXFSIIJQN[JW^HFUFGNQNYNJXYTXHFQJ ZU.SYMJYTUYMWJJ(MNSJXJIJ[JQTUJWXYTLJYMJWXTQI Indian real estate residential market in 2017 stood at one fourth :8 GSTKUWTUJWYNJXFHHTZSYNSLKTW TKYMJRFWPJY of those in 2015. The NCR was the most affected market with share. As delivery capabilities and balance sheets start to NYXFSSZFQXZUUQ^[TQZRJFYOZXY TKNYXIJHFIFQMNLM9TYFQ matter more in India, it expects a similar consolidation to XFQJX[TQZRJNSYMJYTUJNLMYHNYNJXIWTUUJIG^ NS(> unfold in India as well. to 0.23 million units. .VKYLQ=POHH)HKSWH\Y 018 (Y[PZ[ºZPTWYLZZPVU5V[HUHJ[\HSZP[LWOV[VNYHWO GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18 MANAGEMENT DISCUSSION & ANALYSIS The Indian residential real progressively increased from 7.5 quarters in 2014 to 13 VZFWYJWXNS -T\J[JWLWJJSXMTTYXTKWJHT[JW^FWJ[NXNGQJ estate sector is at the cusp of a FXYMJZSXTQINS[JSYTW^IJHQNSJIG^ >T>NS- gradual demand revival, aided by 5*9 affordability at a 15-year high, and New launches in NCR have been on a constant decline XNSHJ NYX UJFP NS FSI KJQQ KZWYMJW NS (> 5NQNSL ZU new buyer-friendly regulations that NS[JSYTW^ QFHP TK HTSXZRJW HTSÁIJSHJ IZJ YT QNYNLFYNTSX have increased the confidence of and infrastructure delays and policy initiatives such as RERA FSI ,89 FWJ XTRJ TK YMJ RFOTW KFHYTWX YMFY MF[J FI[JWXJQ^ property buyers. affected market dynamics and have taken the steam out of SJ\UWTOJHYQFZSHMJXNSYMJWJLNTS3(7XF\FUUWT]NRFYJQ^ During the last four years, the growth in residential prices 11,726 units launched in CY2017 compared to 26,734 units in in most of the top eight cities of India has been below retail (>WJXZQYNSLNSFIJHQNSJTK 4SF^JFWQ^HTRUFWNXTS approximately 37,653 units were sold in NCR in CY2017, NSÂFYNTSLWT\YMFSIYMJLFUMFXUWTLWJXXN[JQ^NSHWJFXJIXNSHJ WJLNXYJWNSLFIWTUTK T[JWYMJXFQJXSZRGJWX8FQJXNS - 9MNX MFX XNLSNÁHFSYQ^ NRUWT[JI MTRJ FKKTWIFGNQNY^ the second half of CY2017 stood at 20,465 units compared to and average ticket sizes of housing units in most cities are now ZSNYXNS-(>WJLNXYJWNSLF>T>NSHWJFXJTK NSHMNSL HQTXJW YT TW FWJ GJQT\ YMJ 0SNLMY +WFSP &KKTWIFGNQNY^ Benchmark of 4.5 times the annual household income of the 7\UL city. Improved affordability will drive the impending housing Against the backdrop of stringent RERA regulations and market’s recovery. Affordability is at its best level in 15 years, XZGIZJI IJRFSI HTSINYNTSX NS - (> IJ[JQTUJWX YMWTZLM F HTRGNSFYNTS TK \JFP UWTUJWY^ UWNHJX IJHFIJQT\ KTHZXJI YMJNW JKKTWYX TS HTRUQJYNSL TSLTNSL UWTOJHYX WFYMJW mortgage rates and steady income increases. Incrementally, than launching new ones. This led to a severe contraction in support has come from the government in the form of YMJ 5ZSJ WJXNIJSYNFQ RFWPJY \MJWJ QFZSHMJX IJHWJFXJI G^ FKKTWIFGQJMTZXNSLYF]NSHJSYN[JXFSIHWJINYQNSPJIXZGXNINJX KWTRYMJUJFPQFZSHM[TQZRJTKZSNYXWJHTWIJINS on home loans. (>9MJSZRGJWTKSJ\QFZSHMJXIJHWJFXJIG^ FSI stood at 12,705 units in CY2017 compared to CY2016. The 4\TIHP FSSZFQXFQJXNSHWJFXJIG^ NSHWJFXJFSIXYTTIFY 2FMFWFXMYWF STYNÁJI 9MJ 7JFQ *XYFYJ 7JLZQFYNTS FSI ZSNYXNS(> TSFHHTZSYTKFGJYYJWXYFWYNSYMJÁWXYMFQK Development) Act, 2016 in a timely manner and subsequently implemented it statewide in May 2017. The residential sales in 6--0*,4(92,; YMJ2ZRGFN2JYWTUTQNYFS7JLNTSNSHWJFXJIG^ FSIXYTTI at 62,256 units in CY2017 compared to CY2016. In the post &HHTWINSLYTFWJUTWYG^0SNLMY+WFSPYMJ.SINFSTKÁHJXUFHJ RERA era, developers are concentrating their resources and market has been plagued by a lack of availability of quality JKKTWYXYT\FWIXHTRUQJYNSLJ]NXYNSLUWTOJHYXFSIFXFWJXZQYYMJ TKÁHJXUFHJ\MNQJIJRFSIMFXWJRFNSJIXYJFI^9MNXXQNIJNS number of new launches were subdued. The launches across TKÁHJXUFHJIJ[JQTURJSY\FXFWWJXYJINS \NYMXZUUQ^ 227NS(> IJHWJFXJIG^ >T>FSIXYTTIFY LWT\NSLG^ NSFSSZFQYJWRX9MJT[JWFQQYWFSXFHYNTSXXYTTI at 41.7 million sq. ft. which continue to substantially exceed ZSNYXFSI\JWJIT\S KWTRYMJUJFPXTK supply and has pulled down the vacancy levels to a decadal )HUNHSVYL QT\TK KWTR F^JFWFLT9MJQFHPTKKWJXMTKÁHJ XUFHJNXRTXY[NXNGQJNSYMJ.9.9J8XJHYTWITRNSFYJIRFWPJYX From a peak of 57,366 units sold in CY2013, the sales volume TK'JSLFQZWZ5ZSJFSI-^IJWFGFIYMFYHZWWJSYQ^MF[JXNSLQJ IJHQNSJIG^ YTZSNYXFYYMJJSITK(> 019 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18 uniform market and eliminate multiple levels of taxation. This is The affordable housing segment expected to pave the way for higher transparency on the back of a streamlined structure. is expected to continue to drive The GST is expected to bring the unorganized sector under the real estate sector in 2018 with the ambit of taxation which will help to increase the tax base several developers and institutional FSIUWT[NIJFQJ[JQUQF^NSLÁJQIKTWTWLFSN_JIIJ[JQTUJWX funds eyeing opportunities in this 0UJLU[P]LZMVYTPKPUJVTLHMMVYKHISLOV\ZPUN XUFHJ9MJJSIZXJWIJRFSINSYMNX .SFRFOTWIJHNXNTSYTGTTXYFKKTWIFGQJMTZXNSLYMJLT[JWSRJSY has increased the carpet area of houses eligible for interest segment along with the government’s XZGXNI^ ZSIJW YMJ (WJINY 1NSPJI 8ZGXNI^ 8HMJRJ (188 KTW YMJ RNIIQJNSHTRJ LWTZU 2., ZSIJW 5WFIMFS 2FSYWN thrust through incentives such as &\FX >TOFSF :WGFS &HHTWINSL YT YMJ WJ[NXJI STWRX YMJ granting infrastructure status is ministry of housing & urban affairs has enhanced the carpet FWJFTKMTZXJXJQNLNGQJKTWXZGXNI^ZSIJW(188YTXVZFWJ ensuring a rising appetite for such RJYJWKTW2.,.FSIXVZFWJRJYJWKTW2.,..9MJHQFZXJ NX FUUQNHFGQJ KWTR /FS ,T[JWSRJSY UWT[NIJX UWTOJHYXFHWTXXYMJHTZSYW^ interest subsidy (up to INR 2,35,000) for homes qualifying ZSIJW52&>XHMJRJ(188XHMJRJ:SIJW2.,.UJWHJSY 9,-694: interest subsidy is available on loan up to INR 9 lakh for UJTUQJ\NYMFSFSSZFQNSHTRJGJY\JJS.37RNQQNTS 9,9(0TWSLTLU[H[PVU while 3 per cent interest subsidy is given on loan up to INR RERA was passed to ensure accountability, infuse transparency RNQQNTSYTUJTUQJ\NYMNSHTRJGJY\JJS.37 RNQQNTS and bring uniformity in real estate practices. According to per annum. As of June 11, an amount of INR 7.36 billion F WJUTWY G^ UWTUJWY^ HTSXZQYFSH^ ÁWR 0SNLMY +WFSP TSQ^ MFXGJJSINXGZWXJIYTGJSJÁHNFWNJXGJQTSLNSLYTYMJ 2., HFYJLTW^9MJ :SNTS 'ZILJY MFX FQXT UWTUTXJI YT XJY 2FMFWFXMYWF2FIM^F5WFIJXMFSI5ZSOFGMF[JJXYFGQNXMJI ZUIJINHFYJIFKKTWIFGQJMTZXNSLKZSINSYMJ3FYNTSFQ-TZXNSL a permanent Real Estate Regulatory Authority, and 19 states Bank funded from priority sector lending shortfall and fully FSI:SNTS9JWWNYTWNJX :9XMF[JFKZSHYNTSFQUTWYFQNSUQFHJ serviced bonds authorized by the government of India. The MahaRERA’s proactive implementation of RERA stands out affordable housing segment is expected to continue to drive FSITKYMJYTYFQUWTOJHYXWJLNXYJWJIZSIJW7*7&FHWTXX the real estate sector in 2018 with several developers and .SINF FWJNS2FMFWFXMYWFFQTSJ2FMFWFXMYWFNXYMJTSQ^ NSXYNYZYNTSFQKZSIXJ^JNSLTUUTWYZSNYNJXNSYMNXXUFHJ9MJJSI XYFYJ \NYM IJYFNQJI UWTOJHY QJ[JQ UFLJX UWT[NINSL WJQJ[FSY user demand in this segment along with the government’s information such as number of units along with carpet area, thrust through incentives such as granting infrastructure WJ[NXJIIFYJXTKUWTOJHYHTRUQJYNTSGZNQINSL\NXJGWJFPZUTK XYFYZX NX JSXZWNSL F WNXNSL FUUJYNYJ KTW XZHM UWTOJHYX FHWTXX HTSÁLZWFYNTSXFQTSL\NYMF[FNQFGQJFSIXTQIZSNYXHTUNJXTK the country. sanctioned building plans, amongst others. While other state 7*7&\JGXNYJXITFQQT\GFXNHXJFWHMUWTOJHYQJ[JQIJYFNQXFWJ 9,0;Z still not available in many states. Though things are falling into While the initial rules for formation of Indian Real Estate place, the pace of creating physical infrastructure like setting Investment Trusts (REITs) were formulated over 3 years ago, ZUWJLZQFYTW¸XTKÁHJXFSIMNWNSLTKÁHNFQXHFSGJVZNHPJSJI&QQ .SINFNX^JYYTXJJNYXÁWXY7*.9QNXYNSLT\NSLYTFSZRGJWTK states need to invest heavily to create technically superior and UWTHJIZWFQIJQF^XTSYMJWJLZQFYNTSFSIYF]FYNTSKWTSY-T\J[JW NSKTWRFYNTSWNHMUTWYFQX\MNHM\NQQXJW[JFXFUWNRFW^XTZWHJ with most of these issues now being sorted out, India may of real estate information to all stakeholders. XJJNYXÁWXY7*.9QNXYNSLNS(> ,N[JSYMJJ]UFSINSLZSN[JWXJ TK,WFIJ&TKÁHJUWTUJWYNJXNS.SINFSHNYNJXFX\JQQFXWNXNSL .VVKZHUK:LY]PJLZ;H_.:; WJSYFQX FHWTXX YMJNW RNHWTRFWPJYX 7*.9XTKKJW FS FYYWFHYN[J way for investors to trade in prime commercial real estate. The Goods and Services Tax (GST), a crucial indirect tax REITs are effectively going to increase the available growth st reform was implemented on 1 July, 2017. The new tax HFUNYFQ KTW IJ[JQTUJWX (ZXMRFS FSI 020 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18 MANAGEMENT DISCUSSION .VKYLQ5H[\YL.\YNHVU & ANALYSIS (Y[PZ[ºZPTWYLZZPVU5V[HUHJ[\HSZP[LWOV[VNYHWO ;/9,(;: */(33,5.,: due to failure to adhere to solid waste management rules. Mumbai had only three solid waste dumping grounds in the 9LN\SH[VY`/\YKSLZ XZGZWGXTK)JTSFW2ZQZSIFSI0FSOZWRFWLFSIRTWJYMFS :SKF[TZWFGQJ HMFSLJX NS LT[JWSRJSY UTQNHNJX FSI YMJ TKYMJXTQNI\FXYJ\FXSTYUWTHJXXJIGJKTWJINXUTXFQ9MJ regulatory environment can adversely impact the performance -NLM(TZWYMFIFQXTGFSSJIXFQJTKSJ\ZSNYXNSWJIJ[JQTURJSY of the sector. There are substantial procedural delays with UWTOJHYX YMJWJG^ NRUFHYNSL WJIJ[JQTURJSY UWTOJHYX FX WJLFWIX YT QFSI FHVZNXNYNTS QFSI ZXJ UWTOJHY QFZSHMJX FSI per National Real Estate Development Council. After two years, construction approvals. Retrospective policy changes and the Supreme Court lifted the stay on the construction of new WJLZQFYTW^GTYYQJSJHPXRF^NRUFHYUWTÁYFGNQNY^FSIFKKJHYYMJ buildings in Greater Mumbai for six months on the condition attractiveness of the sector and companies operating within YMFYYMJIJGWNX\NQQGJIJUTXNYJIFYFXUJHNÁHXNYJFUUWT[JI the sector. G^'2(9MJ2FMFWFXMYWF(MFRGJWTK-TZXNSL.SIZXYW^MFX +\TWPUNNYV\UK NIJSYNÁJIIZRUNSLXNYJXNSFSIFWTZSI,WJFYJW2ZRGFNKTW XTQNI \FXYJ INXUTXFQ ³ :Q\J 3TIJ ;FMFQ STIJ /359 8*? .S 2FWHM YMJ 2ZRGFN -NLM (TZWY WJXYWNHYJI 2ZSNHNUFQ 5ZXMUFP3TIJNS3F[N2ZRGFN &FWJ^5NHSNH5TNSYFSI&FWJ^ Corporation of Mumbai (BMC) from approving new (TQTS^NS2ZRGFN ;NQQFLJ0FQMJW'MN[FSIN ;NQQFLJ'FRGF[QJ construction of residential and commercial space in Mumbai 7FNLFI 2.)(1FSI2MFUJFSI2.)(1FSI&RGJWSFYM 021 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18 :OVY[HNLVM4HUWV^LY ;LJOUVSVN` JILJ IJXNLS FSI YJHMSTQTL^ ,TIWJO 5WTUJWYNJX NX HZWWJSYQ^ IJ[JQTUNSL WJXNIJSYNFQ HTRRJWHNFQ FSI YT\SXMNU UWTOJHYX Despite being the second largest employer in the country, the spread across more than ~150 million sq. ft. in 12 cities. construction sector as a whole faces manpower shortages. Further the sector is heavily dependent on manual labor 9MWTZLMTZYNYXTUJWFYNTSX,51FNRXYTIJQN[JWXZUJWNTW[FQZJ which increases the timelines for construction companies to all stakeholders through extraordinary and imaginative and results in supply getting deferred. There is a need to spaces created out of deep customer focus and insight. promote new mass housing construction technologies such ,51 MFX FQ\F^X JRGWFHJI YMJ STYNTS YMFY HTQQFGTWFYNTS NX FX UWJKFGWNHFYJI UWJJSLNSJJWJI GZNQINSLX 5*'X RTIZQFW the essence of excellence. To that end, we have worked with homes and tunnel formwork technologies to name a few. the best designers, architects and contractors within India Active R&D in modern technology space must be promoted. and around the globe to deliver imaginative and sustainable spaces. By bringing together the best talent in the global real ()6<;.6+9,17967,9;0,:3040;,+ JXYFYJ XJHYTW ,51 \TWPX YT HWJFYJ IJ[JQTURJSYX YMFY \NQQ ,TIWJO5WTUJWYNJX1NRNYJI ,51NXYMJWJFQJXYFYJIJ[JQTURJSY last into the future and foresee the needs of each and every FWRTKYMJ,TIWJO,WTZU\MNHM\FXXYFWYJINS FSINX resident. YTIF^TSJTK.SINF¸XRTXYXZHHJXXKZQHTSLQTRJWFYJX,TIWJO H 3L]LYHNPUN[OL.VKYLQIYHUK 5WTUJWYNJXGWNSLXYMJ,TIWJO,WTZUUMNQTXTUM^TKNSST[FYNTS sustainability, and excellence to the real estate industry. .VKYLQ6UL=PROYVSP (J[\HSPTHNL 022 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18 MANAGEMENT DISCUSSION & ANALYSIS For the first time, we have largely been possible by combining our traditional strength in new launches with a strong improvement in sales from existing emerged as amongst the top inventory, which stood at INR 2,780 crore in FY18. The total three developers by value of value of bookings in FY18 stood at INR 5,083 crore, which WJUWJXJSYX F ^JFWTS^JFW NSHWJFXJ &X F WJXZQY ,51 real estate sold in each of our has emerged as the largest publicly listed developer in India by sales value in FY18. We are especially pleased with this sales four focus markets of Mumbai, performance given that sales for the industry as a whole have NCR, Bangalore, and Pune. IJHQNSJIIZWNSLYMJÁSFSHNFQ^JFW In FY18, we were the largest 4\TIHP developer in NCR, the second ,TIWJO 4WNLNSX FY ·9MJ 9WJJX¸ NS ;NPMWTQN \NYSJXXJI XFQJX TK FUFWYRJSYX \NYMNS YMJ ÁWXY \JJP TK QFZSHM 9MJ YTYFQ largest developer in Mumbai XFQJXFY·9MJ9WJJX¸XYTTIFY XVKY\NYMFGTTPNSL and Pune, and the third largest [FQZJTK.37HWTWJNS+> ,TIWJO*RJWFQI9MFSJ\MNHM was launched in FY17 witnessed strong sales from existing developer in Bangalore by inventory, and the total sales stood at 427,882 sq. ft. with value of real estate sold. a booking value of INR 386 crore. In addition to this we QFZSHMJI,TIWJO9WFSVZNQFY0FSIN[FQN\NYMNSFRTSYMTKFIINSL operates and the trust it has developed over the course of its YMJUWTOJHYYTTZWUTWYKTQNT9MJUWTOJHY\NYSJXXJIXFQJXTK.37 TUJWFYNSLMNXYTW^ 024 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18 .VKYLQ.VSK*V\U[`)HUNHSVYLMANAGEMENT DISCUSSION & ANALYSIS (J[\HSPTHNL UWTOJHYX,51MFXKTHZXJITSYMWJJNRUTWYFSYFXUJHYX ,51WJHTLSN_JXYMJNRUTWYFSHJTKJSLFLNSL\NYMHZXYTRJWX considering the long gestation period from sales to handover. 8YFSIFWI4UJWFYNSL5WTHJXXJX 845X ,51 MFX YFPJS NYX GNL ÁWXY XYJU NSYT RFPNSL 3JY 5WTRTYJW *RUT\JWJIYJFR 8HTWJ 358FXFXNSLQJRJFXZWJTKNYXHZXYTRJWJ]UJWNJSHJ :XJTKYJHMSTQTL^ FI[THFH^3JY5WTRTYJW8HTWJNXST\YMJ\TWQI\NIJXYFSIFWI 8YFSIFWI4UJWFYNSL5WTHJXXJX 845XKTWFQQHWNYNHFQUWTHJXXJX for organizations to measure, understand and improve their have been documented. Regular & focused training is HZXYTRJW J]UJWNJSHJ 9MJ KWFRJ \TWP KTW YMJ 358 UWTHJXX NRUFWYJIYTJSXZWJYMFYYMJ845XFWJFIMJWJIYT(ZXYTRJW NRUQJRJSYFYNTSNXST\NSUQFHJFSI'FXJQNSJ358FSI'WFSI Centricity (CC) has also been focusing on people with 358\NQQGJYWFHPJIHQTXJQ^NSTWIJWYTHTSXNXYJSYQ^NRUWT[J HFUFGNQNY^IJ[JQTURJSYYMWTZLM(ZXYTRJW*]UJWNJSHJ1FGTS our customer experiences. YMJOTGYWFNSNSLYMWTZLMHJWYNÁHFYNTSXFSI[FWNTZXWTQJGFXJI During FY18 we delivered ~3 million sq. ft. across 4 cities. The JRTIZQJXKTWXPNQQIJ[JQTURJSY YFGQJTSYMJSJ]YUFLJLN[JXIJYFNQXTKYMJXJUWTOJHYX 025 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18 7HY[PJ\SHYZ :HSLHISL(YLH FX YMJ LQTGFQ XYFSIFWI KTW UTWYKTQNTQJ[JQ *8, WJUTWYNSL FSI TPSSPVUZXM[ benchmarking in the real asset sector. ,TIWJO8ZRRNY,ZWLFTS 1.86 N :\Z[HPUHISLKL]LSVWTLU[ ,TIWJO+WTSYNJW,ZWLFTS 0.42 &Y ,TIWJO 5WTUJWYNJX \J MF[J RFIJ XZXYFNSJI JKKTWYX YT ,TIWJO5WFPWNYN0TQPFYF 0.4 integrate sustainability as a part our business strategy allowing ,TIWJO5QFYNSZR2ZRGFN 0.15 us to address the risks that might arise due to climate change, ,TIWJO,TQI(TZSY^'FSLFQTWJ 0.08 depletion of resources and increasing pressures on land for development. To demonstrate commitment to sustainable M .SVIHSYLJVNUP[PVUMVYZ\Z[HPUHIPSP[`PUP[PH[P]LZ UWFHYNHJX YMJ ,TIWJO .SIZXYWNJX 1NRNYJI &XXTHNFYJI ,51\FXWFSPJInd in Asia & 6th globally by GRESB (Global (TRUFSNJX ,.1&( NSNYNFYJI YMJ ·,TIWJO ,TTI ,WJJS¸ 7JFQ *XYFYJ 8ZXYFNSFGNQNY^ 'JSHMRFWP &S NSIZXYW^IWN[JS UWTLWFR YT FHMNJ[J XUJHNÁJI JS[NWTSRJSYFQ YFWLJYX G^ YMJ organization which assesses Environmental, Social and ^JFW:SIJWYMJFRGNYTKYMNXNSNYNFYN[JFY,51\JMF[J committed ourselves to the triple bottom line approach of Governance (ESG) performance of real estate assets globally. 5JTUQJ5QFSJY 5WTÁY .VKYLQ.HYKLU*P[`(OTLKHIHK (J[\HSPTHNL 026 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18 MANAGEMENT DISCUSSION & ANALYSIS GPL was ranked 2nd in Asia & 9MJKTHZXFWJFXTKYMJHTSXTWYNZRNSHQZIJ 6th globally by GRESB (Global 5TQNH^IJ[JQTURJSY .SHQZXNTSKTWLWJJSMTZXNSL Real Estate Sustainability 9JHMSTQTL^F[FNQFGNQNY^ 8PNQQ IJ[JQTURJSY FSI NRUWT[JRJSY NS HTSXYWZHYNTS Benchmark) - An industry- workforce driven organization which (TSXZRJWF\FWJSJXXWJLFWINSLGJSJÁYXTKLWJJSMTZXNSL As part of our sustainability practices, we monitor sustainability assesses Environmental, across all domains of our business in line with the parameters Social and Governance (ESG) of the Global Reporting Initiative Generation 4 (GRI G4) guidelines. We undertake Sustainability reporting as per GRI performance of real estate G4 Core for internal purposes. The Global Reporting Initiative (GRI) is a comprehensive framework for product responsibility assets globally. and ensuring triple bottom line sustainability for business. It is indoor environmental quality, maximizing day lighting and FSTSÁSFSHNFQINXHQTXZWJTKUJWKTWRFSHJNSINHFYTWXYMFYHT[JW SFYZWFQ[JSYNQFYNTS\FYJWFSIJSJWL^JKÁHNJSH^FSIWJXUTSXNGQJ social, environmental & economic aspects. This assessment material sourcing. We integrate the concept of sustainable has ensured a continuous integration of sustainable development across our operations. UWFHYNHJXFHWTXXTUJWFYNTSXFY,51 (Y[PZ[ºZPTWYLZZPVU5V[HUHJ[\HSZP[LWOV[VNYHWO UQFYKTWRX FSI IJ[JQTURJSY RFSFLJRJSY YMWTZLM F UFS introduction of GST and The Real Estate (Regulation and .SINF UWJXJSHJ -T\J[JWFS^ KZYZWJ XNLSNÁHFSY IT\SYZWS NS Development) Act, 2016 (RERA) drive consolidation. These the industry and the overall investment climate may adversely changes combined with the most affordable house prices in impact business. decades should lead to an improvement in sentiment which is J]YWJRJQ^NRUTWYFSYKTWYMJWJ[N[FQTKYMJXJHYTW-NLMVZFQNY^ :[H[\[VY`(WWYV]HSZ developers, with a greater focus on the residential market, The real estate sector in India is heavily regulated by the \NQQ GJSJÁY INXUWTUTWYNTSFYJQ^ KWTR YMNX H^HQNHFQ ZUYZWS 029 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18 DIRECTORS’ REPORT FOR THE FINANCIAL YEAR ENDED MARCH 31, 2018 TO THE MEMBERS 9MJ)NWJHYTWXMF[JUQJFXZWJNSUWJXJSYNSLYMJ9MNWY^9MNWI)NWJHYTWX¸7JUTWYTK^TZW(TRUFS^FQTSL\NYMYMJÁSFSHNFQXYFYJRJSYX KTWYMJÁSFSHNFQ^JFWJSIJI2FWHM 1. OPERATING RESULT : (JWYFNSPJ^FXUJHYXTKYMJ(TRUFS^¸XUJWKTWRFSHJ TSFXYFSIFQTSJGFXNXIZWNSLYMJÁSFSHNFQ^JFWJSIJI2FWHM FX HTRUFWJIYTYMJUWJ[NTZXÁSFSHNFQ^JFWFWJXZRRFWN_JIGJQT\ (` in crore) Particulars Financial Year Financial Year 2017 – 2018 2016 – 2017 Revenue from Operations Other Income Total Income 5WTÁYGJKTWJ9F] 7YVÂ[HM[LY;H_ Other Comprehensive Income Total Comprehensive Income 2. DIVIDEND: .SYJWRXTKYMJ7JLZQFYNTS&TK8JHZWNYNJXFSI*]HMFSLJ'TFWITK.SINF 1NXYNSL4GQNLFYNTSXFSI)NXHQTXZWJ7JVZNWJRJSYX 7JLZQFYNTSX µ8*'.14)77JLZQFYNTSX¶YMJ)N[NIJSI)NXYWNGZYNTS5TQNH^TKYMJ(TRUFS^NXFUUJSIJIFX&SSJ]ZWJ.YTYMNX Report and also available on the website of the Company at MYYUX \\\LTIWJOUWTUJWYNJXHTRNS[JXYTWHTWUTWFYJLT[JWSFSHJ 0JJUNSLNS[NJ\TKYMJT[JWFQQTGOJHYN[JTKNRUWT[NSL7JYZWSTS(FUNYFQ*RUQT^JIYMWTZLM[FWNTZXUWTOJHYXGJNSLFIIJINS (TRUFS^¸XUTWYKTQNTYMJ'TFWIGJQNJ[JXYMFYHTSXJW[NSLFSINS[JXYNSLYMJ(TRUFS^¸XHFUNYFQNSYMJRFS^MNLMWJYZWSNS[JXYRJSY TUUTWYZSNYNJXHZWWJSYQ^F[FNQFGQJNSXYJFITKINXYWNGZYNSLNYFXFIN[NIJSI\NQQRF]NRN_JXMFWJMTQIJW[FQZJHWJFYNTS9MJ'TFWI YMJWJKTWJKJQYYMFYNSYMJNSYJWJXYTKYMJRNSTWNY^WJYFNQNS[JXYTWXYMJ(TRUFS^XMTZQIZYNQN_JYMJNSYJWSFQFHHWZFQXTSNYXUWTOJHYX WFYMJWYMFSUF^NSLIN[NIJSIYTXMFWJMTQIJWX9MJ)NWJHYTWXMF[JYMJWJKTWJSTYWJHTRRJSIJIFS^IN[NIJSIKTWYMJÁSFSHNFQ^JFW JSIJI2FWHM 030 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18 DIRECTORS’ REPORT FOR THE FINANCIAL YEAR ENDED MARCH 31, 2018 3. SHARE CAPITAL: record demonstrates that we can operate at a large scale and PJJUUFHJ\NYMTZWFHHJQJWFYNSLXFQJX )ZWNSLYMJÁSFSHNFQ^JFWJSIJI2FWHM YMJ(TRUFS^ MFINXXZJIFSIFQQTYYJIJVZNY^XMFWJXTK`JFHMTK ,51NXHTRRNYYJIYTIJQN[JWTSNYX[NXNTSTKGJNSLFRTSLXYYMJ YMJ(TRUFS^YTNYXJQNLNGQJJRUQT^JJXTSJ]JWHNXJTKTUYNTSX SFYNTS¸XYTUWJFQJXYFYJHTRUFSNJXFSI\FXWJHTLSN_JIKTW LWFSYJIZSIJWYMJ,TIWJO5WTUJWYNJX1NRNYJI*RUQT^JJ8YTHP YMJ·'JXY)J[JQTUJWTKYMJ^JFW ¸F\FWIG^(TSXYWZHYNTS 4UYNTS8HMJRJ ,51*8,8(TSXJVZJSYQ^YMJNXXZJI 9NRJX'ZNQIJWX&\FWI·)J[JQTUJWTKYMJ>JFW³7JXNIJSYNFQ¸ XZGXHWNGJIFSIUFNI³ZUJVZNY^XMFWJHFUNYFQTKYMJ(TRUFS^ F\FWIG^7JFQ*XYFYJ(TRUFS^TKYMJ>JFW &5&(.SXNIJW MFXNSHWJFXJIYT JVZNY^XMFWJXTK`JFHM9MJ and ‘Outstanding Contribution in Real Estate Sector’ award Company has neither issued shares with differential rights as by 5th 3FYNTSFQ (TSKJWJSHJ 7JXNIJSY N[ 9MJ^MF[JUWJUFWJIYMJFSSZFQFHHTZSYXKTWÁSFSHNFQ^JFW &XWJVZNWJIZSIJW7JLZQFYNTSTK8*'.14)77JLZQFYNTSXYMJ JSIJI2FWHM TSF·LTNSLHTSHJWS¸GFXNX Company has formulated a Related Party Transactions Policy which is available on the website of the Company at MYYUX [ 9MJ^ MF[J QFNI IT\S NSYJWSFQ ÁSFSHNFQ HTSYWTQX YT GJ \\\LTIWJOUWTUJWYNJXHTRNS[JXYTWHTWUTWFYJLT[JWSFSHJ KTQQT\JIG^YMJ(TRUFS^FSIYMFYXZHMNSYJWSFQÁSFSHNFQ HTSYWTQXFWJFIJVZFYJFSIMF[JGJJSTUJWFYNSLJKÁHNJSYQ^ 16. MATERIAL CHANGES AND COMMITMENTS AFFECTING THE FINANCIAL POSITION OF [N 9MJ^MF[JIJ[NXJIUWTUJWX^XYJRXYTJSXZWJHTRUQNFSHJ with provisions of all applicable laws and that such THE COMPANY: - X^XYJRX\JWJFIJVZFYJFSITUJWFYNSLJKKJHYN[JQ^ There have been no material changes and commitments FKKJHYNSL YMJ ÁSFSHNFQ UTXNYNTS TK YMJ (TRUFS^ \MNHM MF[J 12. DECLARATION BY INDEPENDENT DIRECTORS: THHZWWJIGJY\JJS2FWHM FSIYMJIFYJTKYMNX7JUTWY TYMJWYMFSYMTXJINXHQTXJINSYMNX7JUTWY The Independent Directors of the Company have submitted the IJHQFWFYNTSTK.SIJUJSIJSHJFXWJVZNWJIZSIJW8JHYNTS 17. PARTICULARS REGARDING CONSERVATION TKYMJ(TRUFSNJX&HYHTSÁWRNSLYMFYYMJ^RJJYYMJHWNYJWNF OF ENERGY, TECHNOLOGY ABSORPTION TKNSIJUJSIJSHJZSIJW8JHYNTS TKYMJ(TRUFSNJX&HY AND FOREIGN EXCHANGE EARNINGS AND FSI7JLZQFYNTS GTK8*'.14)77JLZQFYNTSX OUTGO: 7630*@65+09,*;69:º(77605;4,5; 9MJUFWYNHZQFWXNSWJXUJHYTKHTSXJW[FYNTSTKJSJWL^YJHMSTQTL^ AND REMUNERATION: FGXTWUYNTS FSI KTWJNLS J]HMFSLJ JFWSNSLX FSI TZYLT FX WJVZNWJIZSIJW8JHYNTS RTKYMJ(TRUFSNJX&HYWJFI The policy of the Company on directors’ appointment and \NYMYMJ(TRUFSNJX &HHTZSYX7ZQJXNXFUUJSIJIFX WJRZSJWFYNTS NSHQZINSL HWNYJWNF KTW IJYJWRNSNSL VZFQNÁHFYNTSX &SSJ]ZWJ.;YTYMNX7JUTWY UTXNYN[J FYYWNGZYJX NSIJUJSIJSHJ TK F )NWJHYTW FSI TYMJW 18. BUSINESS RISK MANAGEMENT: RFYYJWXUWT[NIJIZSIJW8JHYNTS TKYMJ(TRUFSNJX&HY NXFUUJSIJIFX&SSJ]ZWJ...YTYMNX7JUTWY 9MJ(TRUFS^MFXHTSXYNYZYJIF7NXP2FSFLJRJSY(TRRNYYJJ HTSXNXYNSLTKPJ^J]JHZYN[JXFSIFSNSIJUJSIJSYINWJHYTWYT 14. PARTICULARS OF LOANS, GUARANTEES OR NIJSYNK^FSIFXXJXXGZXNSJXXWNXPXFSITUUTWYZSNYNJX9MJ7NXP INVESTMENTS: 2FSFLJRJSY(TRRNYYJJNIJSYNÁJXYMJWNXPXFYGTYMJSYJWUWNXJ QJ[JQFSIFYUWTOJHYQJ[JQ 9MJ IJYFNQX TK QTFSX LN[JS NS[JXYRJSYX RFIJ LZFWFSYJJX LN[JS FSI XJHZWNYNJX UWT[NIJI ZSIJW 8JHYNTS TK YMJ 9MJ GZXNSJXX WNXPX NIJSYNÁJI FWJ WJ[NJ\JI G^ YMJ 7NXP (TRUFSNJX &HY MF[J GJJS UWT[NIJI NS YMJ STYJX YT YMJ 2FSFLJRJSY (TRRNYYJJ FSI F IJYFNQJI FHYNTS UQFS YT XYFSIFQTSJÁSFSHNFQXYFYJRJSYX RNYNLFYJ NIJSYNÁJI WNXPX NX IWF\S ZU FSI NYX NRUQJRJSYFYNTS NX RTSNYTWJI 9MJ PJ^ WNXPX FSI RNYNLFYNTS FHYNTSX FWJ YMJS 15. PARTICULARS OF CONTRACTS OR UQFHJIGJKTWJYMJ&ZINY(TRRNYYJJTKYMJ(TRUFS^ ARRANGEMENTS WITH RELATED PARTIES: 19. CORPORATE SOCIAL RESPONSIBILITY: &QQ YWFSXFHYNTSX JSYJWJI NSYT IZWNSL YMJ ÁSFSHNFQ ^JFW & (TWUTWFYJ 8THNFQ 7JXUTSXNGNQNY^ (87 (TRRNYYJJ MFX \NYM7JQFYJI5FWYNJXFXIJÁSJIZSIJWYMJ(TRUFSNJX GJJS HTSXYNYZYJI NS FHHTWIFSHJ \NYM 8JHYNTS TK YMJ &HYFSI8*'.14)77JLZQFYNTSX\JWJNSYMJTWINSFW^HTZWXJ (TRUFSNJX &HY 9MJ IJYFNQX WJVZNWJI ZSIJW YMJ (TRUFSNJX TKGZXNSJXXFSITSFSFWR¸XQJSLYMGFXNX)ZWNSLYMJ^JFWYMJ (TWUTWFYJ8THNFQ7JXUTSXNGNQNY^5TQNH^7ZQJXFWJLN[JS Company had not entered into any transaction referred to in NS(877JUTWYFUUJSIJIFX&SSJ]ZWJ;YTYMNX7JUTWY9MJ 8JHYNTS TKYMJ(TRUFSNJX&HY\NYMWJQFYJIUFWYNJX\MNHM CSR Policy is available on the website of the Company at HTZQIGJHTSXNIJWJIRFYJWNFQZSIJW8*'.14)77JLZQFYNTSX \\\LTIWJOUWTUJWYNJXHTRNS[JXYTWX &HHTWINSLQ^YMJINXHQTXZWJTK7JQFYJI5FWY^9WFSXFHYNTSXFX 20. VIGIL MECHANISM: WJVZNWJIZSIJW8JHYNTS TKYMJ(TRUFSNJX&HYNS+TWR &4(NXSTYFUUQNHFGQJ&YYJSYNTSTK2JRGJWXNXIWF\SYTYMJ 9MJ(TRUFS^MFXJXYFGQNXMJIF[NLNQRJHMFSNXRKTWINWJHYTWX INXHQTXZWJXTKYWFSXFHYNTSX\NYMWJQFYJIUFWYNJXXJYTZYNS3TYJX employees and other stakeholders to report their genuine YT &HHTZSYX ³ 3TYJ 3T KTWRNSL UFWY TK YMJ 8YFSIFQTSJ HTSHJWSXIJYFNQXTK\MNHMMF[JGJJSLN[JSNSYMJ(TWUTWFYJ Á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ÁSFSHNFQXYFYJRJSYX9MJ &RNYNX)J[JQTUJWX115 MNLMQNLMYX TK UJWKTWRFSHJ TK XZGXNINFWNJX FXXTHNFYJX FSI ,TIWJO(TSXYWZHYNTS5WTOJHYX115 OTNSY[JSYZWJHTRUFSNJXFSIYMJNWHTSYWNGZYNTSYTYMJT[JWFQQ UJWKTWRFSHJ TK YMJ (TRUFS^ NX LN[JS FX &SSJ]ZWJ & NS ,TIWJO-TZXNSL5WTOJHYX115 (TSXTQNIFYJI+NSFSHNFQX ,TIWJO1FSI)J[JQTUJWX115 ,TIWJO)J[JQTUJWX 5WTUJWYNJX115 24. DETAILS RELATING TO DEPOSITS COVERED ,TIWJO-NLMWNXJX7JFQY^115 UNDER CHAPTER V OF THE COMPANIES ,TIWJO5WTOJHY)J[JQTUJWX 5WTUJWYNJX115 ACT, 2013: &71FSIHWFKY115 Sr. Particulars (` in crore) ,TIWJO-NLM[NJ\115 No. 5WFPM^FY)\JQQNSLX115 &HHJUYJIIZWNSLYMJ^JFW - ,TIWJO8P^[NJ\115 Remained unpaid or unclaimed as 'F[IMFS7JFQY^%5ZSJ115 at the end of the year ,TIWJO,WJJS5WTUJWYNJX115 FUUJSIJI FX &SSJ]ZWJ ;.. YT YMNX 7JUTWY 9MJ NSKTWRFYNTS 38. AWARDS & RECOGNITIONS: WJVZNWJI UZWXZFSY YT 8JHYNTS TK YMJ (TRUFSNJX &HY 9MJ)NWJHYTWXYFPJUQJFXZWJNSNSKTWRNSLYMJ2JRGJWXYMFYYMJ WJFI\NYM7ZQJ TKYMJ(TRUFSNJX &UUTNSYRJSYFSI (TRUFS^NYX UJTUQJ FSI UWTOJHYX \JWJ FHPST\QJILJI \NYM 7JRZSJWFYNTSTK2FSFLJWNFQ5JWXTSSJQ7ZQJXNSWJXUJHY XJ[JWFQ F\FWIX FSI WFYNSLX IZWNSL YMJ ÁSFSHNFQ ^JFW JSIJI of employees of the Company is available for inspection by the 2FWHM 9MJIJYFNQXTKYMJF\FWIWJHJN[JIFWJLN[JS 2JRGJWXFYWJLNXYJWJITKÁHJTKYMJ(TRUFS^IZWNSLGZXNSJXX FYUFLJST TKYMNX7JUTWY MTZWXTS\TWPNSLIF^XZUYTYMJIFYJTKYMJJSXZNSL&SSZFQ ,JSJWFQ 2JJYNSL .K FS^ 2JRGJW NX NSYJWJXYJI NS TGYFNSNSL 39. ACKNOWLEDGMENTS: F HTU^ YMJWJTK XZHM 2JRGJW RF^ \WNYJ YT YMJ (TRUFS^ 8JHWJYFW^\MJWJZUTSFHTU^\TZQIGJXJSY The Directors wish to place on record their appreciation FSIXNSHJWJYMFSPXYTYMJHZXYTRJWXOTNSY[JSYZWJUFWYSJWX 36. EMPLOYEES STOCK OPTION SCHEMES: XMFWJMTQIJWX GFSPX ÁSFSHNFQ NSXYNYZYNTSX Á]JI IJUTXNY MTQIJWX [JSITWX FSI TYMJW FXXTHNFYJX \MT YMWTZLM YMJNW &X WJVZNWJI NS YJWRX TK YMJ 8JHZWNYNJX FSI *]HMFSLJ 'TFWI HTSYNSZJIXZUUTWYFSIHTTUJWFYNTSMF[JMJQUJIFXUFWYSJWX TK.SINF 8MFWJ'FXJI*RUQT^JJ'JSJÁYX7JLZQFYNTSX NSYMJ(TRUFS^¸XUWTLWJXX9MJ)NWJHYTWXFQXTFHPST\QJILJ YMJINXHQTXZWJWJQFYNSLYT,TIWJO5WTUJWYNJX1NRNYJI*RUQT^JJ YMJMFWI\TWPIJINHFYNTSFSIHTRRNYRJSYTKYMJJRUQT^JJX 8YTHP ,WFSY 8HMJRJ µ,51 *8,8¶ NX FUUJSIJI FX &SSJ]ZWJ;...YTYMNX7JUTWY -VYHUKVUILOHSMVM[OL)VHYKVM+PYLJ[VYZ VM.VKYLQ7YVWLY[PLZ3PTP[LK 37. BUSINESS RESPONSIBILITY REPORT: 9MJ 'ZXNSJXX 7JXUTSXNGNQNY^ 7JUTWY KTW YMJ ÁSFSHNFQ ^JFW 7PYVQZOH.VKYLQ JSIJI2FWHM FXXYNUZQFYJIZSIJW7JLZQFYNTS 5QFHJ 2ZRGFN *]JHZYN[J(MFNWRFS TK8*'.14)77JLZQFYNTSXNXFYYFHMJIFXUFWYTKYMJ&SSZFQ )FYJ 2F^ ).3 7JUTWY 037 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18 &33*=:7*.949-*).7*(947¸87*5479 1. BACKGROUND AND APPLICABILITY: 3TY\NYMXYFSINSL YMJ FGT[J YMJ XMFWJMTQIJWX TK YMJ (TRUFS^RF^STYJ]UJHY)N[NIJSIZSIJWYMJKTQQT\NSL 9MJ 8*'. 1NXYNSL 4GQNLFYNTSX FSI )NXHQTXZWJ HNWHZRXYFSHJX 7JVZNWJRJSYX7JLZQFYNTSX µ7JLZQFYNTSX¶WJVZNWJ YMJYTUQNXYJIHTRUFSNJX G^RFWPJYHFUNYFQNXFYNTSYT F 9MJ 'TFWI TK )NWJHYTWX µ'TFWI¶ TK ,TIWJO 5WTUJWYNJX G 8NLSNÁHFSYQ^ MNLMJW \TWPNSL HFUNYFQ WJVZNWJRJSYX 1NRNYJI µ(TRUFS^¶ MFX FITUYJI YMNX )N[NIJSI FI[JWXJQ^NRUFHYNSLKWJJHFXMÂT\ )NXYWNGZYNTS5TQNH^YTHTRUQ^\NYMYMJXJWJVZNWJRJSYX H 2FHWTJHTSTRNHFSIGZXNSJXXHTSINYNTSXNSLJSJWFQ .XXZJTK'TSZXXMFWJX 5WT[NINSLTKZSKTWJXJJSJ[JSYFSIHTSYNSLJSH^\NYM &S^TYMJWUJWRNXXNGQJUZWUTXJ ÁSFSHNFQNRUQNHFYNTSX &S^TYMJWWJQJ[FSYKFHYTWXYMFYYMJ'TFWIRF^IJJR 8. MODIFICATION OF THE POLICY: ÁYYTHTSXNIJWGJKTWJIJHQFWNSL)N[NIJSI 9MJ 2FSFLJRJSY (TRRNYYJJ TK YMJ 'TFWI TK )NWJHYTWX 7. UTILISATION OF RETAINED EARNINGS: NXFZYMTWN_JIYTHMFSLJFRJSIYMNXUTQNH^KWTRYNRJYT YNRJ FY NYX XTQJ INXHWJYNTS FSITW NS UZWXZFSHJ TK FS^ 8ZGOJHYYTFUUQNHFGQJWJLZQFYNTSXYMJ(TRUFS^¸XWJYFNSJI FRJSIRJSYX RFIJ NS YMJ (TRUFSNJX &HY YMJ JFWSNSLXXMFQQGJFUUQNJIKTW 7JLZQFYNTSXJYH +ZSINSL NSTWLFSNH FSI TWLFSNH LWT\YM SJJIX 9. DISCLAIMER: NSHQZINSL \TWPNSL HFUNYFQ HFUNYFQ J]UJSINYZWJ WJUF^RJSYTKIJGYJYH This document does not solicit investments in the (TRUFS^¸X XJHZWNYNJX 3TW NX NY FS FXXZWFSHJ TK 'Z^GFHPTKXMFWJXXZGOJHYYTFUUQNHFGQJQNRNYX LZFWFSYJJIWJYZWSX NSFS^KTWRKTWNS[JXYRJSYXNSYMJ 5F^RJSYTK)N[NIJSINSKZYZWJ^JFWX (TRUFS^¸XJVZNY^XMFWJX 039 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18 &33*=:7*..949-*).7*(9478¸7*5479 Form No. MGT-9 ,_[YHJ[VM(UU\HS9L[\YUHZVU[OLÂUHUJPHS`LHYLUKLKVU4HYJO B7\YZ\HU[[V:LJ[PVU VM[OL*VTWHUPLZ(J[HUK9\SLVM[OL *VTWHUPLZ4HUHNLTLU[HUK(KTPUPZ[YH[PVU9\SLZD I. REGISTRATION AND OTHER DETAILS Sr. No. N (.3 1 2- 51( NN Registration Date th+JGWZFW^ NNN 3FRJTKYMJ(TRUFS^ ,4)7*/5745*79.*81.2.9*) N[ (FYJLTW^8ZG(FYJLTW^TKYMJ(TR- 5ZGQNH1NRNYJI(TRUFS^ pany [ &IIWJXXTKYMJ7JLNXYJWJITKÁHJFSI ,TIWJO4SJ contact details 5thÂTTW5NWTOXMFSFLFW *FXYJWS*]UWJXX-NLM\F^ ;NPMWTQN *FXY 2ZRGFN 9JQ +F] [N [NN 3FRJ &IIWJXX FSI (TSYFHY IJYFNQX 0FW[^(TRUZYJWXMFWJ5WN[FYJ1NRNYJI TK7JLNXYWFWFSI9WFSXKJW&LJSYNKFS^ :SNY ,TIWJO5WTUJWYNJX1NRNYJI 0FW[^8JQJSNZR9T\JW'5QTY3T +NSFSHNFQ)NXYWNHY ,FHMNGT\QN3FSFPWFRLZIF8JWNQNSLFRUFQQ^-^IJWFGFI *RFNQ JNS\FWIWNX%PFW[^HTR 5MTSJ +F] II. PRINCIPAL BUSINESS ACTIVITIES OF THE COMPANY &QQYMJGZXNSJXXFHYN[NYNJXHTSYWNGZYNSL TWRTWJTKYMJYTYFQYZWST[JWTKYMJ(TRUFS^TSXYFSIFQTSJGFXNXFWJFXZSIJW Sr. 5HTLHUK+LZJYPW[PVUVM 50**VKLVM[OL [V[V[HS[\YUV]LYVM[OL No. THPUWYVK\J[ZZLY]PJLZ WYVK\J[ZLY]PJL *VTWHU` Construction and Real Estate Development 040 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18 DIRECTORS’ REPORT FOR THE FINANCIAL YEAR ENDED MARCH 31, 2018 III. PARTICULARS OF HOLDING, SUBSIDIARY AND ASSOCIATE COMPANIES Sr. 5HTLHUK(KKYLZZVM[OL *05.35 /VSKPUN:\IZPKPHY` VM (WWSPJHISL No. *VTWHU` Associate shares Section OLSK ,TIWJO.SIZXYWNJX1NRNYJI 12- 51( -TQINSLHTRUFS^ ,TIWJO4SJ5NWTOXMFSFLFW*FXYJWS *]UWJXX-NLM\F^;NPMWTQN2ZRGFN ,TIWJO'ZNQIHTS5WN[FYJ1NRNYJI : 2-59( Subsidiary Company ,TIWJO,FWIJS(NY^5WTUJWYNJX : 2-59( Subsidiary Company 5WN[FYJ1NRNYJI 4 ,TIWJO5WTOJHYX)J[JQTURJSY : 2-51( Subsidiary Company 1NRNYJI KTWRJWQ^PST\SFX,TIWJO 5WTOJHYX)J[JQTURJSY5WN[FYJ 1NRNYJI 5 ,TIWJO5WTUJWYNJX 042 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18 DIRECTORS’ REPORT FOR THE FINANCIAL YEAR ENDED MARCH 31, 2018 Sr. 5HTLHUK(KKYLZZVM[OL *05.35 /VSKPUN:\IZPKPHY` VM (WWSPJHISL No. *VTWHU` Associate shares Section OLSK ,TIWJO)J[JQTUJWX 5WTUJWYNJX &&) 'TI^(TWUTWFYJ 115 ,TIWJO-NLMWNXJX7JFQY^115 &&) 'TI^(TWUTWFYJ ,TIWJO5WTOJHY)J[JQTUJWX &&* 'TI^(TWUTWFYJ 5WTUJWYNJX115 &71FSIHWFKY115 &&+ 'TI^(TWUTWFYJ :2-TZXJrd+QTTW5QTY3TU :2-TZXJ8JHYTW,ZWLFTS³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th(WTXX th2FNS th8JHYTW-871F^TZY'FSLFQTWJ 0FWSFYFPF 7JLNXYJWJI4KÁHJ&IIWJXX³,TIWJO4SJth+QTTW5NWTOXMFSFLFW*FXYJWS*]UWJXX-NLM\F^;NPMWTQN *FXY2ZRGFN 3TYJ .S HFXJ TK 115X YMJ TK XMFWJX MJQI IJSTYJX YMJ TK [TYNSL WNLMYX MJQI G^ ,TIWJO 5WTUJWYNJX 1NRNYJI NS YMJ WJXUJHYN[J115X 043 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18 IV. SHARE HOLDING PATTERN (EQUITY SHARE CAPITAL BREAKUP AS PERCENTAGE OF TOTAL EQUITY) P *H[LNVY`^PZL:OHYL/VSKPUN *H[LNVY`VMZOHYLOVSKLYZ 5VVM:OHYLZOLSKH[[OLILNPUUPUNVM[OL`LHY 5VVM:OHYLZOLSKH[[OLLUKVM[OL`LHY % (April 01, 2017) (March 31, 2018) JOHUNL Demat 7O`ZPJHS Total VM[V[HS Demat 7O`ZPJHS Total VM[V[HS K\YPUN shares shares [OL`LHY A. Promoters & Promoter Group 0UKPHU .SIN[NIZFQ-:+ - - (JSYWFQ,T[Y 8YFYJ,T[Y X 'TINJX(TWU - - 'FSPX+. &S^4YMJW5WN[FYJ9WZXYX -- -- - :\I[V[HS( 162,087,070 - 162,087,070 74.91 161,484,842 - 161,484,842 74.59 (0.32) -VYLPNU F37.X.SIN[NIZFQX -- -- - b) Other – Individuals ------ 'TINJX(TWU ------'FSPX+. ------&S^4YMJW ------:\I[V[HS( ------;V[HSZOHYLOVSKPUNVM 162,087,070 - 162,087,070 74.91 162,087,070 - 162,087,070 74.87 (0.04) Promoter (A) = (A)(1)+(A)(2) )7\ISPJ:OHYLOVSKPUN 1. Institutions F2ZYZFQ+ZSIX - - G'FSPX+. - - H(JSYWFQ,T[Y ------I8YFYJ,T[Y X ------J;JSYZWJ(FUNYFQ+ZSIX ------f) Insurance Companies ------ L+..X+5.X - M+TWJNLS;JSYZWJ(FUNYFQ ------Funds N4YMJWX+TWJNLS3FYNTSFQX -- -- - :\I[V[HS) 25,392,209 25,392,209 11.74 24,607,346 - 24,607,346 11.37 (0.37) 044 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18 DIRECTORS’ REPORT FOR THE FINANCIAL YEAR ENDED MARCH 31, 2018 *H[LNVY`VMZOHYLOVSKLYZ 5VVM:OHYLZOLSKH[[OLILNPUUPUNVM[OL`LHY 5VVM:OHYLZOLSKH[[OLLUKVM[OL`LHY % (April 01, 2017) (March 31, 2018) JOHUNL Demat 7O`ZPJHS Total VM[V[HS Demat 7O`ZPJHS Total VM[V[HS K\YPUN shares shares [OL`LHY 2. Non-Institutions H)VKPLZ*VYW - - i) Indian ------ii) Overseas ------ I0UKP]PK\HSZ i) Individual shareholders holding nominal share capital up to `QFPM ii) Individual shareholders - - holding nominal share capital NSJ]HJXXTK`QFPM J6[OLYZZWLJPM` 3TS7JXNIJSY.SIN[NIZFQX - 3TS7JUFYWNFYNTS (QJFWNSL2JRGJWX - 3'+(7JLNXYJWJI\NYM7'. - Employee Trusts - - - - - - IEPF - - - - - - :\I[V[HS) 28,839,195 28,885,413 13.35 29,746,837 - 29,785,862 13.76 0.41 ;V[HS7\ISPJ:OHYLOVSKPUN 54,231,404 46,218 54,277,622 25.09 54,354,033 39,025 54,393,058 25.13 0.04 (B) = (B)(1)+(B)(2) *:OHYLZOLSKI` ------*\Z[VKPHUMVY.+9Z ADRs .YHUK;V[HS()* 216,318,474 46,218 216,364,692 100 216,441,103 39,025 216,480,128 100 - 045 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18 PP :OHYLOVSKPUNVM7YVTV[LYZ! Sl. :OHYLOVSKLYºZ5HTL :OHYLOVSKPUNH[[OLILNPUUPUNVM[OL :OHYLOVSKPUNH[[OLLUKVM[OL`LHY % No. `LHY(WYPS (March 31, 2018) JOHUNL in share- 5VVM VM[V[HS VM:OHYLZ 5VVM VM[V[HS VM:OHYLZ Shares Shares 7SLKNLK Shares Shares 7SLKNLK OVSKPUN VM[OL LUJ\TILYLK VM[OL LUJ\TILYLK K\YPUN *VTWHU` to total shares *VTWHU` to total shares [OL`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’ REPORT FOR THE FINANCIAL YEAR ENDED MARCH 31, 2018 PPP *OHUNLPU7YVTV[LYZº:OHYLOVSKPUNWSLHZLZWLJPM`PM[OLYLPZUVJOHUNL Sl. Particulars :OHYLOVSKPUNH[[OLILNPUUPUNVM[OL`LHY(WYPS Cumulative No. :OHYLOVSKPUN K\YPUN[OL`LHY (March 31, 2018) 5VVM VM[V[HS Date 0UJYLHZL Reason 5VVM VM[V[HS Shares Shares KLJYLHZLPU Shares Shares VM[OL ZOHYLOVSKPUN VM[OL *VTWHU` *VTWHU` 9FS^F&W[NSI)ZGFXM Inter-se Transfer &YYMJJSITKYMJ^JFW 3NXFGF,TIWJO Inter-se Transfer &YYMJJSITKYMJ^JFW 5NWTOXMF,TIWJO Inter-se Transfer &YYMJJSITKYMJ^JFW 9FS^F&W[NSI)ZGFXM - Inter-se 9WZXYJJTK9&)+FRNQ^9WZXY Transfer &YYMJJSITKYMJ^JFW 3NXFGF,TIWJO - Inter-se 9WZXYJJTK3,+FRNQ^9WZXY Transfer &YYMJJSITKYMJ^JFW 5NWTOXMF,TIWJO - Inter-se (Trustee of PG Family Trust) Transfer &YYMJJSITKYMJ^JFW 3FINW,TIWJO Inter-se Transfer &YYMJJSITKYMJ^JFW 3FINW,TIWJO - Inter-se 9WZXYJJTK'3,+FRNQ^9WZXY Transfer &YYMJJSITKYMJ^JFW 9 3FINW,TIWJO - Inter-se 9WZXYJJTK83,+FRNQ^9WZXY Transfer &YYMJJSITKYMJ^JFW 047 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18 Sl. Particulars :OHYLOVSKPUNH[[OLILNPUUPUNVM[OL`LHY(WYPS Cumulative No. :OHYLOVSKPUN K\YPUN[OL`LHY (March 31, 2018) 5VVM VM[V[HS Date 0UJYLHZL Reason 5VVM VM[V[HS Shares Shares KLJYLHZLPU Shares Shares VM[OL ZOHYLOVSKPUN VM[OL *VTWHU` *VTWHU` 3FINW,TIWJO - Inter-se 9WZXYJJTK-3,+FRNQ^9WZXY Transfer &YYMJJSITKYMJ^JFW /FRXM^I 3FTWTON ,TIWJO Inter-se 5MJWT_F /FRXM^I ,TIWJO Transfer 3F[WT_J /FRXM^I ,TIWJO 9WZXYJJX TK 7FNPF ,TIWJO Family Trust) &YYMJJSITKYMJ^JFW 7FNPF,TIWJO - Inter-se Transfer &YYMJJSITKYMJ^JFW +WJ^FS'NJWNJ(WNXMSF Inter-se Transfer &YYMJJSITKYMJ^JFW 3^WNPF-TQPFW Inter-se Transfer &YYMJJSITKYMJ^JFW 8RNYF,TIWJO0WNXMSF - Inter-se +WJ^FS(WNXMSF'NJWNFSI Transfer 3^WNPF-TQPFW 9WZXYJJTK+;(+FRNQ^9WZXY &YYMJJSITKYMJ^JFW 8RNYF,TIWJO0WNXMSF - Inter-se +WJ^FS(WNXMSF'NJWNFSI Transfer 3^WNPF-TQPFW 9WZXYJJTK3;(+FRNQ^9WZXY &YYMJJSITKYMJ^JFW 048 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18 DIRECTORS’ REPORT FOR THE FINANCIAL YEAR ENDED MARCH 31, 2018 P]:OHYLOVSKPUN7H[[LYUVM[VW[LU:OHYLOVSKLYZV[OLY[OHU+PYLJ[VYZ7YVTV[LYZHUK/VSKLYZVM.+9Z HUK(+9Z Sr. Name :OHYLOVSKPUN Date 0UJYLHZL Reason Cummulative No. Decrease :OHYLOVSKPUN in share - K\YPUN[OL`LHY OVSKPUN [V 5VVM VM[V[HS 5VVM VM[V[HS Shares shares Shares shares at the VM[OL VM[OL ILNPUUPUN JVTWHU` *VTWHU` LUKVM [OL`LHY 1 92ZYZFQ+ZSI9WZXYJJ1YI &UW 1 9(FU+ZSI &UW 'TZLMY 2F^ 'TZLMY 2F^ 'TZLMY /ZS 'TZLMY /ZS 'TZLMY /ZS 'TZLMY /ZS Sold /ZS 'TZLMY /ZS 'TZLMY /ZQ 'TZLMY /ZQ 'TZLMY /ZQ 'TZLMY &ZL 'TZLMY &ZL 'TZLMY &ZL 'TZLMY &ZL 'TZLMY 8JU 'TZLMY 8JU 'TZLMY 4HY 'TZLMY 4HY 'TZLMY 4HY 'TZLMY 4HY 'TZLMY 3T[ 'TZLMY 3T[ 'TZLMY 3T[ 'TZLMY )JH 'TZLMY 049 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18 Sr. Name :OHYLOVSKPUN Date 0UJYLHZL Reason Cummulative No. Decrease :OHYLOVSKPUN in share - K\YPUN[OL`LHY OVSKPUN [V 5VVM VM[V[HS 5VVM VM[V[HS Shares shares Shares shares at the VM[OL VM[OL ILNPUUPUN JVTWHU` *VTWHU` LUKVM [OL`LHY )JH Sold )JH Sold /FS Sold /FS 'TZLMY +JG 'TZLMY 2FW Sold 2FW Sold 2FW (NSSFRTS(FUNYFQ1NRNYJI &UW )JH 'TZLMY )JH 'TZLMY )JH 'TZLMY /FS 'TZLMY 2FW Goldman Sachs India Fund &UW 1NRNYJI &UW 'TZLMY 2FW 4 8'.2FLSZR2NIHFU+ZSI &UW /FS 'TZLMY +JG 'TZLMY 2FW 'TZLMY 2FW 'TZLMY 2FW 'TZLMY 2FW 5 Franklin Templeton Investment &UW Funds /ZS Sold /ZS Sold /ZQ Sold 050 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18 DIRECTORS’ REPORT FOR THE FINANCIAL YEAR ENDED MARCH 31, 2018 Sr. Name :OHYLOVSKPUN Date 0UJYLHZL Reason Cummulative No. Decrease :OHYLOVSKPUN in share - K\YPUN[OL`LHY OVSKPUN [V 5VVM VM[V[HS 5VVM VM[V[HS Shares shares Shares shares at the VM[OL VM[OL ILNPUUPUN JVTWHU` *VTWHU` LUKVM [OL`LHY /ZQ Sold 2FW Sold 2FW 4]GT\2FXYJW+ZSI1NRNYJI &UW /ZS 'TZLMY /ZS 'TZLMY /ZQ Sold /ZQ 'TZLMY &ZL 'TZLMY &ZL 'TZLMY )JH Sold +JG 'TZLMY 2FW (18&,QTGFQ2FWPJYX5YJ &UW 1YI &UW 'TZLMY &UW 'TZLMY 8JU 'TZLMY 8JU 'TZLMY 4HY 'TZLMY 4HY 'TZLMY 2FW 'TZLMY 2FW '355FWNGFX&WGNYWFLJ &UW 8JU 'TZLMY 4HY 'TZLMY 4HY 'TZLMY 4HY 'TZLMY 3T[ 'TZLMY +JG 'TZLMY 051 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18 Sr. Name :OHYLOVSKPUN Date 0UJYLHZL Reason Cummulative No. Decrease :OHYLOVSKPUN in share - K\YPUN[OL`LHY OVSKPUN [V 5VVM VM[V[HS 5VVM VM[V[HS Shares shares Shares shares at the VM[OL VM[OL ILNPUUPUN JVTWHU` *VTWHU` LUKVM [OL`LHY 2FW 'TZLMY 2FW 'TZLMY 2FW 9 8PFSINF&XNJS &UW /ZQ Sold /ZQ Sold 8JU Sold 8JU Sold 8JU Sold 8JU Sold 3T[ 'TZLMY 3T[ Sold 3T[ Sold 3T[ 'TZLMY )JH 'TZLMY )JH 'TZLMY )JH 'TZLMY /FS 'TZLMY +JG 'TZLMY +JG Sold +JG Sold 2FW Sold 2FW 2FSNXM/FNS &UW /FS 'TZLMY /FS 'TZLMY +JG 'TZLMY 2FW 3TYNSYMJ1NXYTK9TU8MFWJMTQIJWXFXTS 9MJXFRJMFXGJJSWJÂJHYJIFGT[JXNSHJYMJXMFWJMTQIJW\FXTSJ TKYMJ9TUXMFWJMTQIJWXFXTS 052 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18 DIRECTORS’ REPORT FOR THE FINANCIAL YEAR ENDED MARCH 31, 2018 ] :OHYLOVSKPUNVM+PYLJ[VYZHUK2L`4HUHNLYPHS7LYZVUULS! Sl. -VYLHJOVM[OLKPYLJ[VYZHUK247 :OHYLOVSKPUNH[[OLILNPUUPUN *\T\SH[P]L:OHYLOVSKPUN No. VM[OL`LHY K\YPUN[OL`LHY (April 01, 2017) (March 31, 2018) 5VVM:OHYLZ VM[V[HS 5VVM VM[V[HS :OHYLZVM[OL Shares :OHYLZVM[OL *VTWHU` *VTWHU` 1. 4Y7PYVQZOH.VKYLQµ,_LJ\[P]L*OHPYTHU &YYMJGJLNSSNSLTKYMJ^JFW )FYJ\NXJNSHWJFXJIJHWJFXJNSXMFWJMTQINSLIZWNSL .SYJWXJYWFSXKJWTS TK JVZNY^XMFWJX YMJ^JFWXUJHNK^NSLYMJWJFXTSXKTWNSHWJFXJIJHWJFXJ JLFQQTYRJSYYWFSXKJWGTSZXX\JFYJVZNY^JYH &YYMJJSITKYMJ^JFW 2. 4Y1HTZO`K5.VKYLQ5VU,_LJ\[P]L+PYLJ[VY &YYMJGJLNSSNSLTKYMJ^JFW )FYJ\NXJNSHWJFXJIJHWJFXJNSXMFWJMTQINSLIZWNSL 3THMFSLJ YMJ^JFWXUJHNK^NSLYMJWJFXTSXKTWNSHWJFXJIJHWJFXJ JLFQQTYRJSYYWFSXKJWGTSZXX\JFYJVZNY^JYH &YYMJJSITKYMJ^JFW 3. 4Y5HKPY).VKYLQµ5VU,_LJ\[P]L+PYLJ[VY &YYMJGJLNSSNSLTKYMJ^JFW )FYJ\NXJNSHWJFXJIJHWJFXJNSXMFWJMTQINSLIZWNSL .SYJWXJYWFSXKJWTS TK JVZNY^XMFWJX YMJ^JFWXUJHNK^NSLYMJWJFXTSXKTWNSHWJFXJIJHWJFXJ JLFQQTYRJSYYWFSXKJWGTSZXX\JFYJVZNY^JYH &YYMJJSITKYMJ^JFW 4. 4Y(TP[)*OV\KO\Y`µ0UKLWLUKLU[+PYLJ[VY &YYMJGJLNSSNSLTKYMJ^JFW )FYJ\NXJNSHWJFXJIJHWJFXJNSXMFWJMTQINSLIZWNSL 3THMFSLJ YMJ^JFWXUJHNK^NSLYMJWJFXTSXKTWNSHWJFXJIJHWJFXJ JLFQQTYRJSYYWFSXKJWGTSZXX\JFYJVZNY^JYH &YYMJJSITKYMJ^JFW 5. 4Y2LRP)+HKPZL[Oµ0UKLWLUKLU[+PYLJ[VY &YYMJGJLNSSNSLTKYMJ^JFW 3NQ )FYJ\NXJNSHWJFXJIJHWJFXJNSXMFWJMTQINSLIZWNSL 3THMFSLJ YMJ^JFWXUJHNK^NSLYMJWJFXTSXKTWNSHWJFXJIJHWJFXJ JLFQQTYRJSYYWFSXKJWGTSZXX\JFYJVZNY^JYH &YYMJJSITKYMJ^JFW 3NQ 6. 4YZ3HSP[H+.\W[Lµ0UKLWLUKLU[+PYLJ[VY &YYMJGJLNSSNSLTKYMJ^JFW 053 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18 Sl. -VYLHJOVM[OLKPYLJ[VYZHUK247 :OHYLOVSKPUNH[[OLILNPUUPUN *\T\SH[P]L:OHYLOVSKPUN No. VM[OL`LHY K\YPUN[OL`LHY (April 01, 2017) (March 31, 2018) 5VVM:OHYLZ VM[V[HS 5VVM VM[V[HS :OHYLZVM[OL Shares :OHYLZVM[OL *VTWHU` *VTWHU` )FYJ\NXJNSHWJFXJIJHWJFXJNSXMFWJMTQINSLIZWNSL 3THMFSLJ YMJ^JFWXUJHNK^NSLYMJWJFXTSXKTWNSHWJFXJIJHWJFXJ JLFQQTYRJSYYWFSXKJWGTSZXX\JFYJVZNY^JYH &YYMJJSITKYMJ^JFW 7. 4Y7YHUH`+=HRPSµ0UKLWLUKLU[+PYLJ[VY &YYMJGJLNSSNSLTKYMJ^JFW 3NQ -- )FYJ\NXJNSHWJFXJIJHWJFXJNSXMFWJMTQINSLIZWNSL 3THMFSLJ YMJ^JFWXUJHNK^NSLYMJWJFXTSXKTWNSHWJFXJIJHWJFXJ JLFQQTYRJSYYWFSXKJWGTSZXX\JFYJVZNY^JYH &YYMJJSITKYMJ^JFW 3NQ 8. +Y7YP[HT:PUNOµ0UKLWLUKLU[+PYLJ[VY &YYMJGJLNSSNSLTKYMJ^JFW )FYJ\NXJNSHWJFXJIJHWJFXJNSXMFWJMTQINSLIZWNSL 3THMFSLJ YMJ^JFWXUJHNK^NSLYMJWJFXTSXKTWNSHWJFXJIJHWJFXJ JLFQQTYRJSYYWFSXKJWGTSZXX\JFYJVZNY^JYH &YYMJJSITKYMJ^JFW 9. 4Y(TP[H]H4\ROLYQLLµ0UKLWLUKLU[+PYLJ[VY &YYMJGJLNSSNSLTKYMJ^JFW 3NQ )FYJ\NXJNSHWJFXJIJHWJFXJNSXMFWJMTQINSLIZWNSL 3THMFSLJ YMJ^JFWXUJHNK^NSLYMJWJFXTSXKTWNSHWJFXJIJHWJFXJ JLFQQTYRJSYYWFSXKJWGTSZXX\JFYJVZNY^JYH &YYMJJSITKYMJ^JFW 3NQ 10. 4Y4VOP[4HSOV[YHµ4HUHNPUN+PYLJ[VY *,6 &YYMJGJLNSSNSLTKYMJ^JFW )FYJ\NXJNSHWJFXJIJHWJFXJNSXMFWJMTQINSLIZWNSL ³8FQJTK YMJ^JFWXUJHNK^NSLYMJWJFXTSXKTWNSHWJFXJIJHWJFXJ *VZNY^8MFWJX JLFQQTYRJSYYWFSXKJWGTSZXX\JFYJVZNY^JYH ³ &QQTYRJSYZSIJW,51 *8,8 &YYMJJSITKYMJ^JFW 11. 4Y9HQLUKYH2OL[H^H[µ*OPLM-PUHUJPHS6MÂJLY &YYMJGJLNSSNSLTKYMJ^JFW 054 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18 DIRECTORS’ REPORT FOR THE FINANCIAL YEAR ENDED MARCH 31, 2018 Sl. -VYLHJOVM[OLKPYLJ[VYZHUK247 :OHYLOVSKPUNH[[OLILNPUUPUN *\T\SH[P]L:OHYLOVSKPUN No. VM[OL`LHY K\YPUN[OL`LHY (April 01, 2017) (March 31, 2018) 5VVM:OHYLZ VM[V[HS 5VVM VM[V[HS :OHYLZVM[OL Shares :OHYLZVM[OL *VTWHU` *VTWHU` )FYJ\NXJNSHWJFXJIJHWJFXJNSXMFWJMTQINSLIZWNSL @ ³ YMJ^JFWXUJHNK^NSLYMJWJFXTSXKTWNSHWJFXJIJHWJFXJ sale of shares] JLFQQTYRJSYYWFSXKJWGTSZXX\JFYJVZNY^JYH @ ³ sale of shares] @ ³ sale of shares] @ ³ &QQTYRJSYZSIJW,51 ESGS] @ ³ sale of shares] @ ³ sale of shares] &YYMJJSITKYMJ^JFW 12. 4Y :\YLUKLY =HYTH µ *VTWHU` :LJYL[HY` HUK *OPLM3LNHS6MÂJLY &YYMJGJLNSSNSLTKYMJ^JFW )FYJ\NXJNSHWJFXJIJHWJFXJNSXMFWJMTQINSLIZWNSL ³ YMJ^JFWXUJHNK^NSLYMJWJFXTSXKTWNSHWJFXJIJHWJFXJ &QQTYRJSYZSIJW,51 JLFQQTYRJSYYWFSXKJWGTSZXX\JFYJVZNY^JYH ESGS) ³ &QQTYRJSYZSIJW,51 ESGS) &YYMJJSITKYMJ^JFW 055 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18 V. INDEBTEDNESS : .SIJGYJISJXXTKYMJ(TRUFS^NSHQZINSLNSYJWJXYTZYXYFSINSLFHHWZJIGZYSTYIZJKTWUF^RJSY ` in crore Particulars :LJ\YLK3VHUZ VI. REMUNERATION OF DIRECTORS AND KEY MANAGERIAL PERSONNEL ( 9LT\ULYH[PVU[V4HUHNPUN+PYLJ[VY>OVSL[PTL+PYLJ[VYZHUKVY4HUHNLY! ` NS1FPM Sr. 7HY[PJ\SHYZVM9LT\ULYH[PVU ,_LJ\[P]L+PYLJ[VYZ Total Amount No. 7PYVQZOH Mohit Malhotra .VKYLQ 4HUHNPUN ,_LJ\[P]L Director & Chairman) CEO) Gross Salary F 8FQFW^FXUJWUWT[NXNTSXHTSYFNSJINSXJHYNTS TKYMJ.SHTRJ 9F]&HY G ;FQZJTKUJWVZNXNYJXZX TKYMJ.SHTRJ9F]&HY H 5WTÁYXNSQNJZTKXFQFW^ZSIJWXJHYNTS TKYMJ.SHTRJ9F]&HY - - - Stock Option - 8\JFY*VZNY^ 3& 3& 3& Commission FX TKUWTÁY TYMJWXXUJHNK^¬ Others -- - Total (A) 798.68 756.42 1,555.10 (JNQNSLFXUJWYMJ&HY &RTZSY UFNI NX \NYMNS YMJ HJNQNSL TK TK YMJ 3JY 5WTÁYXTKYMJHTRUFS^HFQHZQFYJIFXUJW8JHYNTS TK YMJ(TRUFSNJX&HY 056 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18 DIRECTORS’ REPORT FOR THE FINANCIAL YEAR ENDED MARCH 31, 2018 B. REMUNERATION TO OTHER DIRECTORS: ` NS1FPM Sr 7HY[PJ\SHYZVM 5HTLVM+PYLJ[VY Total Amt No. Remuneration 1. 0UKLWLUKLU[ Mr. Keki B. Mrs. Lalita D. Mr. Amit B. 4Y7YHUH` Dr. Pritam *Mr. S. Mr. Amitava Directors +HKPZL[O Gupte *OV\KO\Y` D. Vakil :PUNO 5HYH`HU 4\ROLYQLL F Fee for attending 75.40 GTFWIHTRRNYYJJ meetings G Commission - 39.00 4YMJWXUQJFXJXUJHNK^ ------Total (1) 18.50 18.50 18.90 18.50 15.50 6.00 18.50 114.40 2. Other Non- Mr. 4Y5HKPY ,_LJ\[P]L+PYLJ[VYZ 1HTZO`K .VKYLQ .VKYLQ F Fee for ---- -7.00 FYYJSINSLGTFWI committee meetings G Commission ---- -13.00 4YMJWXUQJFXJXUJHNK^ ------Total (2) 9.50 10.50 - - - - - 20.00 ;V[HS)$II ------52.00 ;V[HS4HUHNLYPHS ------1,607.10 Remuneration (A+B) 6]LYHSS*LPSPUNHZ &RTZSYUFNINX\NYMNSYMJHJNQNSLTK TKYMJ3JY5WTÁYTKYMJ(TRUFS^HFQHZQFYJIFXUJW8JHYNTS TKYMJ per the Act (%) (TRUFSNJX&HY HJFXJIYTGJNSIJUJSIJSYINWJHYTWTKYMJ(TRUFS^\NYMJKKJHYKWTR&ZLZXY * 9,4<5,9(;065;62,@4(5(.,90(37,9:655,36;/,9;/(54+4(5(.,9>;+! ` NS1FPM Sr. 7HY[PJ\SHYZVM9LT\ULYH[PVU 2L`4HUHNLYPHS7LYZVUULS No. 4Y9HQLUKYH2OL[H^H[ 4Y:\YLUKLY=HYTH Total *OPLM-PUHUJPHS6MÂJLY *VTWHU`:LJYL[HY` Amount Gross Salary (a) Salary as per provisions contained in XJHYNTS TKYMJ.SHTRJ9F]&HY G;FQZJTKUJWVZNXNYJXZX TKYMJ.SHTRJ 9F]&HY H5WTÁYXNSQNJZTKXFQFW^ZSIJWXJHYNTS TK - - - YMJ.SHTRJ9F]&HY Stock Option 8\JFY*VZNY^ 3& 3& 3& Commission FX TKUWTÁY TYMJWXXUJHNK^¬ Others - - - Total 399.36 232.95 632.31 057 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18 =007,5(3;0,:7<50:/4,5;*6476<5+05.6-6--,5*,:!56;(7730*()3, ;`WL :LJ[PVUVM[OL )YPLM +L[HPSZVM7LU- (\[OVYP[` (WWLHSTHKL Companies Act Description HS[` B9+5*3; PMHU` 7\UPZOTLU[ *6<9;D NP]LKL[HPSZ *VTWV\UKPUN MLLZPTWVZLK A. COMPANY Penalty 3TSJ 3TSJ 3TSJ 3TSJ 3TSJ Punishment 3TSJ 3TSJ 3TSJ 3TSJ 3TSJ Compounding 3TSJ 3TSJ 3TSJ 3TSJ 3TSJ B. DIRECTORS Penalty 3TSJ 3TSJ 3TSJ 3TSJ 3TSJ Punishment 3TSJ 3TSJ 3TSJ 3TSJ 3TSJ Compounding 3TSJ 3TSJ 3TSJ 3TSJ 3TSJ C. OTHER OFFICERS IN DEFAULT Penalty 3TSJ 3TSJ 3TSJ 3TSJ 3TSJ Punishment 3TSJ 3TSJ 3TSJ 3TSJ 3TSJ Compounding 3TSJ 3TSJ 3TSJ 3TSJ 3TSJ 058 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18 DIRECTORS’ REPORT FOR THE FINANCIAL YEAR ENDED MARCH 31, 2018 &33*=:7*...949-*).7*(9478¸7*5479 NOMINATION & REMUNERATION POLICY DEFINITIONS (DIRECTORS, KMP & SENIOR MANAGEMENT) 'TFWIRJFSX'TFWITK)NWJHYTWXTKYMJ(TRUFS^ INTRODUCTION )NWJHYTWXRJFSX)NWJHYTWXTKYMJ(TRUFS^ In pursuance of the Company’s philosophy to consider (TRRNYYJJ RJFSX 3TRNSFYNTS 7JRZSJWFYNTS NYX JRUQT^JJX FX NYX NS[FQZFGQJ FXXJYX YT UF^ JVZNYFGQJ Committee of the Company as constituted or WJRZSJWFYNTSYTFQQ)NWJHYTWX0J^2FSFLJWNFQ5JWXTSSJQ 025 WJHTSXYNYZYJIG^YMJ'TFWI FSIJRUQT^JJXTKYMJ(TRUFS^YTMFWRTSN_JYMJFXUNWFYNTSX of human resources consistent with the goals of the Company (TRUFS^RJFSX,TIWJO5WTUJWYNJX1NRNYJI FSINSYJWRXTKYMJUWT[NXNTSXTKYMJ(TRUFSNJX&HY .SIJUJSIJSY )NWJHYTW RJFSX F INWJHYTW WJKJWWJI YT NS YMNXUTQNH^TSSTRNSFYNTSFSIWJRZSJWFYNTSTK)NWJHYTWX0J^ 8JHYNTS TKYMJ(TRUFSNJX&HY 2FSFLJWNFQ 5JWXTSSJQ FSI 8JSNTW 2FSFLJRJSY MFX GJJS KTWRZQFYJI G^ YMJ 3TRNSFYNTS 7JRZSJWFYNTS (TRRNYYJJ 0J^2FSFLJWNFQ5JWXTSSJQ 025RJFSX FSIFUUWT[JIG^YMJ'TFWITK)NWJHYTWX *]JHZYN[J(MFNWRFSFSITW2FSFLNSL)NWJHYTW OBJECTIVE 9MJTGOJHYN[JFSIUZWUTXJTKYMJ5TQNH^FWJFXLN[JSGJQT\ (MNJK+NSFSHNFQ4KÁHJW 9TQF^IT\SHWNYJWNFFSIYJWRXFSIHTSINYNTSX\NYMWJLFWI (TRUFS^8JHWJYFW^ YT NIJSYNK^NSL UJWXTSX \MT FWJ VZFQNÁJI YT GJHTRJ )NWJHYTWX *]JHZYN[J FSI 3TS*]JHZYN[J FSI UJWXTSX 8ZHMTYMJWTKÁHJWFXRF^GJUWJXHWNGJIZSIJWYMJ \MTRF^GJFUUTNSYJINS8JSNTW2FSFLJRJSYFSI0J^ FUUQNHFGQJXYFYZYTW^UWT[NXNTSXWJLZQFYNTSX 2FSFLJWNFQUTXNYNTSXFSIYTIJYJWRNSJYMJNWWJRZSJWFYNTS 8JSNTW2FSFLJRJSY 9THFWW^TZYJ[FQZFYNTSTKYMJUJWKTWRFSHJTK)NWJHYTWX FX \JQQ FX 0J^ 2FSFLJWNFQ FSI 8JSNTW 2FSFLJRJSY 8JSNTW 2FSFLJRJSY RJFSX UJWXTSSJQ TK YMJ 5JWXTSSJQ (TRUFS^THHZU^NSLYMJUTXNYNTSTK(MNJK*]JHZYN[J 4KÁHJW (MNJK 4UJWFYNSL 4KÁHJW *]JHZYN[J ;NHJ 9T UWT[NIJ YMJR WJ\FWI QNSPJI INWJHYQ^ YT YMJNW 5WJXNIJSYTW;NHJ5WJXNIJSYTKFS^ZSNYIN[NXNTSTK JKKTWY UJWKTWRFSHJ IJINHFYNTS FSI FHMNJ[JRJSY TK 4WLFSN_FYNTS¸XLTFQXFXJSYWZXYJITSYMJR YMJ(TRUFS^:SQJXXYMJHTSYJ]YTYMJW\NXJWJVZNWJX \TWIXFSIJ]UWJXXNTSXZXJINSYMNXUTQNH^FSISTY 9TWJYFNSRTYN[FYJFSIUWTRTYJYFQJSYFSIYTJSXZWJQTSL IJÁSJI MJWJNS GZY IJÁSJI NS YMJ (TRUFSNJX &HY term retention of talented managerial persons and create FX RF^ GJ FRJSIJI KWTR YNRJ YT YNRJ XMFQQ HTRUJYNYN[JFI[FSYFLJ have the meaning respectively assigned to them .SYMJHTSYJ]YTKYMJFKTWJXFNITGOJHYN[JXYMJKTQQT\NSLUTQNH^ YMJWJNS MFX GJJS KWFRJI FSI WJHTRRJSIJI G^ YMJ 3TRNSFYNTS 7JRZSJWFYNTS(TRRNYYJJOTNSYQ^\NYMYMJ-ZRFS7JXTZWHJX 9MNX 5TQNH^ NX IN[NIJI NS Y\T UFWYX 5FWY ³ & HT[JWX YMJ )JUFWYRJSY TK YMJ (TRUFS^ FSI FITUYJI G^ YMJ 'TFWI TK FUUTNSYRJSYFSISTRNSFYNTSFSI5FWY³'HT[JWXWJRZSJWFYNTS )NWJHYTWXFYNYXRJJYNSLMJQITSnd&ZLZXY FSIUJWVZNXNYJXJYH 059 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18 PART – A REMOVAL 541.(> +47 &554.392*39 &3) 7*24;&1 4+ )ZJ YT WJFXTSX KTW FS^ INXVZFQNÁ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ÁYRJSYYT \NQQ GJ LT[JWSJI G^ ,51 -7 UTQNH^ FSI YMJ XZGXJVZJSY YMJTWLFSN_FYNTS FUUWT[FQTKYMJ2FSFLNSL)NWJHYTW 9MJ2)FXXJXXJXYMJXMTWYQNXYJIHFSINIFYJX RETIREMENT 9MJHFSINIFYJXJQJHYJIYMWTZLMYMJFGT[JWTZSIXNXRJY G^ YMJ ,WTZU (TWUTWFYJ -7 KTW ÁYRJSY YT YMJ ,.1&( 9MJ)NWJHYTW025FSI8JSNTW2FSFLJRJSY5JWXTSSJQXMFQQ LWTZU[FQZJXFSIQJFIJWXMNUHFUFGNQNY^WJVZNWJRJSYX WJYNWJFXUJWYMJFUUQNHFGQJUWT[NXNTSXTKYMJ(TRUFSNJX&HY FSIYMJUWJ[FNQNSLUTQNH^TKYMJ(TRUFS^9MJ2FSFLNSL The selected candidate’s details and the proposed )NWJHYTW \NQQ MF[J YMJ INXHWJYNTS YT WJYFNS YMJ )NWJHYTW025 HTRUJSXFYNTSNXXMFWJI\NYMYMJ3TRNSFYNTS 7JRZSJWFYNTS 8JSNTW 2FSFLJRJSY 5JWXTSSJQ NS YMJ XFRJ UTXNYNTS (TRRNYYJJ KTW YMJNW WJ[NJ\ FSI XZLLJXYNTSX 9MJ XFRJ NX remuneration or otherwise even after attaining the retirement XMFWJI\NYMYMJ'TFWIFYYMJSJ]YGTFWIRJJYNSL FLJKTWYMJGJSJÁYTKYMJ(TRUFS^ ;,94;,5<9, PART – B The tenure for Directors shall be Company governed by the 541.(>7*1&9.3,94*;&1:&9.43&3)7*2:3*7&9.43 YJWRXIJÁSJINSYMJ(TRUFSNJX&HY 4+ 9-* <-41*9.2* ).7*(9478 025 &3) 8*3.47 -T\J[JWYMJYJSZWJKTWTYMJW025FSI8JSNTW2FSFLJRJSY 2&3&,*2*395*78433*1 5JWXTSSJQ\NQQGJLT[JWSJIG^,51-7UTQNH^ EVALUATION PROCESS: EVALUATION &9MWJJ5TNSY7FYNSLXHFQJKTWUJWKTWRFSHJWJ[NJ\TK*]JHZYN[J 9MJUJWKTWRFSHJTKYMJ\MTQJYNRJ)NWJHYTW025FSI8JSNTW )NWJHYTW025FSI8JSNTW2FSFLJRJSYNXGJKTQQT\JI 2FSFLJRJSY5JWXTSSJQNXJ[FQZFYJIFYWJLZQFWNSYJW[FQX MFQK 9H[PUN VU )HZPJ 1VI 9LZWVUZPIPSP[PLZ! indicating ^JFWQ^^JFWQ^G^YMJ\MTQJYNRJ)NWJHYTWX2FSFLNSL)NWJHYTW \MJYMJW YMJ GFXNH OTG WJXUTSXNGNQNYNJX MF[J GJJS RJY FXFUUQNHFGQJ IZWNSLYMJ^JFW The performance evaluation of Independent Directors shall be 9H[PUNVU.VHSZ!&SSZFQWFYNSLTSJFHMLTFQTSFÁ[J ITSJ G^ YMJ 'TFWI J]HQZINSL YMJ )NWJHYTW GJNSL J[FQZFYJI UTNSYXHFQJ 060 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18 DIRECTORS’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·+NSFQ&SSZFQ7FYNSL¸ 061 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18 &33*=:7*.;949-*).7*(9478¸7*5479 INFORMATION PURSUANT TO SECTION 134(3)(m) OF THE COMPANIES ACT, 2013, READ WITH THE RULE 8(3) OF THE COMPANIES (ACCOUNTS) RULES, 2014 IN RESPECT OF CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS AND OUTGO A. CONSERVATION OF ENERGY *SHTZWFging occupants to lead a greener lifestyle by ZXNSL MNLM JKÁHNJSH^ &(X FSI WJKWNLJWFYTWX '** XYFW I. (A) STEPS TAKEN FOR CONSERVATION OF WFYJIYMWTZLMFKTWRFQMFSIT[JWJ[JSY ENERGY: *('(,ZNIJQNSJXFWJKTQQT\JI\MNQJIJXNLSNSL(TRRJWHNFQ ,TIWJO5WTUJWYNJX1NRNYJI ·,51¸TWYMJ·(TRUFS^¸HTSXYFSYQ^ 5WTOJHYX endeavors to achieve energy conservation by adopting green GZNQINSLUWFHYNHJXHJWYNÁJIG^YMJ.SINFS,WJJS'ZNQINSL(TZSHNQ II. STEPS TAKEN BY THE COMPANY FOR ·.,'(¸ &X FS NSYJWSFQ RFSIFYJ JFHM SJ\ UWTOJHY XYWN[JX UTILIZING ALTERNATE SOURCES OF YT FHMNJ[J YMJ RNSNRZR QJ[JQ TK µ8NQ[JW¶ ZSIJW YMJ WJQJ[FSY ENERGY: WFYNSLX^XYJRXUJHNÁJIG^.,'(+WTRYMJ5WTOJHYNSHJUYNTS ,51JSXZWJXYMFYFQQUWTOJHYXFWJLWJJSGZNQINSLHJWYNÁJI&X XYFLJYMWTZLMIJXNLSFSIJ]JHZYNTSYTUTXYTHHZUFSH^\J UFWYTKYMJLWJJSGZNQINSL\JTKYJSNSYJLWFYJXTQFWJSJWL^KTW HTSXYFSYQ^ \TWP \NYM NSYJWSFQ FSI J]YJWSFQ YJFR RJRGJWX YMJIJ[JQTURJSY9\TTKTZWXNYJXFWJZXNSLXTQFWJSJWL^IZWNSL YT RJJY YMJ *SJWL^ 5JWKTWRFSHJ .SIJ] GJSHMRFWPX XJY G^ the construction process to offset the carbon emissions of the *('(FSI.,'(9MJKTQQT\NSLGJXYUWFHYNHJXFWJNSUQFHJYT UWTOJHYX¸HTSXYWZHYNTSUWTHJXX&XUJWYMJSJ\FRJSIRJSY FHMNJ[JYMNXTGOJHYN[J NS.,'(,WJJS-TRJXYMJWJVZNWJRJSYTK7JSJ\FGQJ*SJWL^ (TRUWJMJSXN[J *SJWL^ RTIJQNSL IZWNSL YMJ IJXNLS WJVZNWJX NY YT RJJY YT TK YMJ HTRRTS QNLMYNSL XYFLJ YT WJFQN_J JSJWL^ HTSXJW[FYNTS \MNQJ RJJYNSL IJRFSI9MNXRFPJXNYRTWJKJFXNGQJKTWZXYTNSHTWUTWFYJYMNX YMJ KZSHYNTSFQ WJVZNWJRJSYX KTW GTYM WJXNIJSYNFQ FSI NSKZYZWJUWTOJHYX HTRRJWHNFQUWTOJHYX III. CAPITAL INVESTMENT ON ENERGY 'ZNQINSL JS[JQTUJ IJXNLS FSI RFYJWNFQ XJQJHYNTS ZXNSL CONSERVATION EQUIPMENT: UFXXN[JHTTQNSLYJHMSNVZJX\MJWJ[JWUTXXNGQJ 9MJWJ\FXSTHFUNYFQNS[JXYRJSYTSJSJWL^JVZNURJSYXITSJ :XJTKMNLMJKÁHNJSH^LQF_NSLYMFYHZYXIT\SMJFYNSLWJXX IZWNSLYMJ^JFWZSIJWWJ[NJ\ \MNQJRFNSYFNSNSLTUYNRZRIF^QNLMYNSLFSISTNXJQJ[JQX :XJTKMNLMJSJWL^JKÁHNJSH^JVZNURJSY³JL*QJ[FYTWX B. TECHNOLOGY ABSORPTION 7JXJFWHMNSL YMJ RFWPJY KTW SJ\ RFHMNSJX 4UJWFYNTSFQ JSJWL^ HTSXZRUYNTS FSI materials and developing methodologies for performance indicators are being monitored for YMJNWJKKJHYN[JZXJNSTZWUWTOJHYXNYJX FQQUWTOJHYXNJFSSZFQJSJWL^HTSXZRUYNTSUJW XVZFWJKTTYTKXFQJFGQJFWJFKTWFQQNSHTSXYWZHYNTS 8TQFW YJHMSTQTLNJX KTW HTRRTS FWJF UFWPNSL UWTOJHYXFSIKTW,51FIRNSNXYWFYN[JTKÁHJX FSIXYWJJYQNLMYNSL 00 ;OLILULÂ[ZKLYP]LKSPRLWYVK\J[PTWYV]LTLU[ 8TQFW\FYJWMJFYNSLKTWWJXNIJSYNFQGZNQINSLX JVZ[YLK\J[PVUWYVK\J[KL]LSVWTLU[VYPTWVY[ 1*)XKTWHTRRTSFWJFQNLMYNSL Z\IZ[P[\[PVU! 1*)XKTWZXJNS,51TKÁHJGZNQINSLX 4UJWFYNTSFQHTXYWJIZHYNTSXIZJYTYMJLWJJSGZNQINSL guidelines being followed 1NLMYNSL\NYMXJSXTWHTSYWTQNSHTRRTSFWJFX TK,514KÁHJ -JFQYMNJW JS[NWTSRJSY KTW YMJ THHZUFSYX \NYM 1T\ ;4(UFNSYXFSIJSMFSHJIIF^QNLMYNSL I 7YVJLZZ0UP[PH[P]LZ! 000 0UMVYTH[PVU YLNHYKPUN PTWVY[LK [LJOUVSVN` 9MJ TWLFSN_FYNTS TK YMJ \TWP \NYM YMJ MJQU TK PTWVY[LKK\YPUNSHZ[`LHYZ XHMJIZQNSLXYWZHYZWNSLTK\TWPKTWHJNSYFSIJR \NYMOTGIJXHWNUYNTSXFSIHQTXNSLYNRJLFUXYT 9MJ (TRUFS^ MFX STY NRUTWYJI FS^ YJHMSTQTL^ JSXZWJJKÁHNJSH^ XNSHJNSHTWUTWFYNTS .S IJUYM UQFSSNSL TK HTSXYWZHYNTS FHYN[NYNJX 0=,_WLUKP[\YL PUJ\YYLK VU 9LZLHYJO ` procedures which in turn will result in stable Development: 3NQ QJ[JQXTKVZFQNY^XMTWYJWYNRJQNSJXFSIWJIZHJI C. FOREIGN EXCHANGE EARNINGS AND HTSXZRUYNTSXTKRFSFSIRFYJWNFQFYXNYJ OUTGO: 8YFSIFWIN_FYNTSTKGZNQINSLJQJRJSYXFSIUFWYX )ZWNSL YMJ ÁSFSHNFQ ^JFW J]UJSINYZWJ NS KTWJNLS introducing rules and regulations based on HZWWJSHNJX NS YJWRX TK FHYZFQ TZYÂT\ FRTZSYJI YT ` national and international standards and internal crore (Previous year ` HWTWJTSFHHTZSYTKUWTKJXXNTSFQ HQFXXNÁHFYNTSX HTSXZQYFYNTS KJJX FSI J]UJSXJX NSHZWWJI KTW GZXNSJXX 9MJ ZXFLJ TK XUJHNFQ XZGHTSYWFHYTWX UWTRTYNTS 9MJ (TRUFS^ MFX STY JFWSJI FS^ KTWJNLS HTSXZQYFSYXYTWJFQN_JYFXPXJKÁHNJSYQ^ J]HMFSLJIZWNSLYMJ^JFW 063 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18 &33*=:7*;949-*).7*(9478¸7*5479 (UU\HS 9LWVY[ VU *VYWVYH[L :VJPHS 9LZWVUZPIPSP[` 2.2 CSR Committee Composition (J[P]P[PLZ HZ WYLZJYPILK \UKLY :LJ[PVU VM [OL *VTWHUPLZ(J[HUK*VTWHUPLZ*VYWVYH[L:VJPHS 4HUHNLTLU[4LTILYZ 9LZWVUZPIPSP[`7VSPJ`9\SLZ This committee comprises of 2W5NWTOXMF,TIWJO 1. GOAL OF CSR REPORTING 2W2TMNY2FQMTYWF &Y ,TIWJO 5WTUJWYNJX 1NRNYJI¸X ,51 \J FXUNWJ YT GJ F 2W&RNY'(MTZIMFW^ KTWJWZ NS XZXYFNSFGNQNY^ YMWTZLM QJFIJWXMNU HTRRNYRJSY RZQYNUQJXYFPJMTQIJWJSLFLJRJSYFSIINXHNUQNSJI[FQZJHMFNS 9LZWVUZPIPSP[PLZ RJHMFSNXRX 4ZW MTQNXYNH FUUWTFHM YT\FWIX XZXYFNSFGNQNY^ +TWRZQFYJFSIZUIFYJ,51¸X(875TQNH^\MNHM STY TSQ^ RFSFLJX TZW J]YJWSFQNYNJX GZY FQXT NSYJLWFYJX YMJ \NQQGJFUUWT[JIG^YMJ'TFWITK,51 prevalent social and environmental issues into business 8ZLLJXY FWJFX TK NSYJW[JSYNTS YT YMJ 'TFWI TK XYWFYJLNJX YT UWT[NIJ YFSLNGQJ XTQZYNTSX \MNHM GJSJÁY YMJ ,51 underserved communities and deliver competitive advantage &UUWT[JUWTOJHYXYMFYFWJNSQNSJ\NYMYMJ(87 YTYMJGZXNSJXX policy 4ZWXYWFYJLNH(TWUTWFYJ8THNFQ7JXUTSXNGNQNY^ (87UWTOJHYX 5ZY RTSNYTWNSL RJHMFSNXRX NS UQFHJ YT YWFHP ZSIJWYFPJS FX UFWY TK TZW T[JWFQQ XZXYFNSFGNQNY^ KWFRJ\TWP YMJUWTLWJXXTKJFHMUWTOJHY FHYN[JQ^\TWPYT\FWIXYMJ,TIWJO,WTZU¸X,TTI ,WJJSLTFQX 7JHTRRJSIYMJ(87J]UJSINYZWJYTYMJ'TFWI and have helped us carve out a reputation for being one of the TK,51KTWFUUWT[FQ RTXYHTRRNYYJIFSIWJXUTSXNGQJHTRUFSNJXNSYMJNSIZXYW^ 2JJYY\NHJF^JFWYTWJ[NJ\YMJUWTLWJXXRFIJ This annual CSR report will endeavor to provide comprehensive and easy to understand information about our CSR philosophy ,_LJ\[P]L*VTTP[[LL4LTILYZ FSIFHYN[NYNJXTKYMJHTRUFS^.SYMNXINWJHYNTSYMJFSSZFQ(87 This committee will be responsible for carrying out report will act as a means to convey the message of inclusive YMJIF^YTIF^TUJWFYNTSXKTW(87 YMJ^\NQQWJUTWY LWT\YMFSIIJ[JQTURJSYYTFQQTZWXYFPJMTQIJWX YTYMJ(87RFSFLJRJSYHTRRNYYJJ 2. CSR REPORT FRAMEWORK 4LTILYZVM[OPZJVTTP[[LL )W ;NPFX ,TX\FRN (MFNWUJWXTS -JFI TK 6\[SPULVM*:97VSPJ` ,.1&(,TTI ,WJJS &Y ,51 TZW (87 UTQNH^ FUUQNJX YT FQQ FHYN[NYNJX YMFY FWJ 2W &SZGMF[ ,ZUYF -JFI TK ,WJJS ZSIJWYFPJS FX UFWY TK TZW ,TTI ,WJJS (87 UWTLWFR 8ZXYFNSFGNQNY^,51 MJSHJ NX YNYQJI µ,TTI ,WJJS (87 5TQNH^ KTW ,TIWJO 2X7ZMN5FSIJ-JFITK,TTI,51 5WTUJWYNJX 1NRNYJI¶ 9MNX UTQNH^ \NQQ GJ KZWYMJW WJ[NJ\JI developed and updated in reference to relevant codes of 2W7FOJSIWF0MJYF\FY(+4,51 HTWUTWFYJ LT[JWSFSHJ NSIZXYWNFQ YWJSIX FSI NSYJWSFYNTSFQ *:9)\KNL[HUK,_WLUKP[\YL ` in crore XYFSIFWIXFSIGJXYUWFHYNHJX &[JWFLJSJYUWTÁYTKQFXY^JFWX ,51 HQFXXNÁJX YMTXJ UWTOJHYX FX (87 \MNHM FWJ T[JW FSI (FQHZQFYJI XUJSI KTW YMJ HZWWJSY FGT[J TZW STWRFQ HTZWXJ TK GZXNSJXX 9MNX UTQNH^ KZQÁQX YMJ ÁSFSHNFQ^JFW WJVZNWJRJSYXTKYMJ(87WZQJXFXUJWYMJ8JHYNTSTKYMJ (TRUFSNJX&HY &RTZSY XUJSY IZWNSL YMJ HZWWJSY ÁSFSHNFQ^JFW (87UTQNH^NXXYFYJIMJWJNSGJQT\ &RTZSYZSXUJSYTKYMJWJHTRRJSIJI MYYUX \\\LTIWJOUWTUJWYNJXHTRUIK(87D5TQNH^UIK GZILJYNKFS^ 064 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18 DIRECTORS’ REPORT FOR THE FINANCIAL YEAR ENDED MARCH 31, 2018 2.4 Compliance Report )JYFNQXTKYMJ(87J]UJSINYZWJXNSHZWWJIG^,51IZWNSLYMJHZWWJSYÁSFSHNFQ^JFW MFXGJJSIJUNHYJINSYMJYFGQJ LN[JSGJQT\ `NS1FPM Sr. *:9WYVQLJ[ :LJ[VYPU^OPJO[OL 3VJH[PVUVMWYVQLJ[ZVY Amount Amt spent on Cumulative (TV\U[ZWLU[KPYLJ[ No. VYHJ[P]P[` WYVQLJ[PZJV]LYLK WYVNYHTTLZ V\[SH`I\KNL[ WYVQLJ[Z L_WLUKP[\YL VY[OYV\NO[OL 1. 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\FX [ .YNXMJWJG^FKÁWRJIYMFYYMJWJRZSJWFYNTSUFNINXFXUJW NNN 9MJWJ\JWJ UJWRFSJSYJRUQT^JJXTSYMJWTQQXTK YMJ 7JRZSJWFYNTS 5TQNH^ KTW )NWJHYTWX 0J^ 2FSFLJWNFQ (TRUFS^FXTS2FWHM 5JWXTSSJQFSITYMJW*RUQT^JJX 071 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18 &33*=:7*;...949-*).7*(9478¸7*5479 AS PER THE DISCLOSURE REQUIREMENT SPECIFIED UNDER SEBI (SHARE BASED EMPLOYEE BENEFITS) REGULATIONS, 2014 AND SECTION 62(1)(B) OF THE COMPANIES ACT, 2013 READ WITH RULE 12(9) OF THE COMPANIES (SHARE CAPITAL & DEBENTURES), RULES, 2014, THE FOLLOWING INFORMATION IS DISCLOSED IN RESPECT OF EMPLOYEE STOCK BENEFIT PLANS: Sr. Particulars .VKYLQ7YVWLY[PLZ3PTP[LK No. ,TWSV`LL:[VJR.YHU[:JOLTL Date of shareholders’ approval for the options granted 2FWHM &UWNQ under the scheme Total number of options approved for grants under the scheme ;JXYNSLWJVZNWJRJSYX &X XUJHNÁJI G^ YMJ 3TRNSFYNTS 7JRZSJWFYNTS (TRRNYYJJ XZGOJHY YT RNSNRZR ^JFW KWTR YMJ IFYJ TK grant 4 *]JWHNXJ5WNHJTW5WNHNSLKTWRZQF ` 5 per share 5 2F]NRZRYJWRTKTUYNTSXLWFSYJI &X RF^ GJ IJHNIJI G^ YMJ 3TRNSFYNTS 7JRZSJWFYNTS (TRRNYYJJFXUJWYMJUWJ[FQJSYWJLZQFYTW^UWT[NXNTSX Source of shares )NWJHY&QQTYRJSY ;FWNFYNTSTKYJWRXTKTUYNTSX 3TSJ 4UYNTSXLWFSYJIYNQQ2FWHM 9 4UYNTSX[JXYJIZUYT2FWHM 4UYNTSXJ]JWHNXJIZUYT2FWHM 9MJYTYFQSZRGJWTKXMFWJXFWNXNSLFXFWJXZQYTKJ]JWHNXJ of option; Options lapsed 2TSJ^WJFQNXJIG^J]JWHNXJTKTUYNTSXZUYT2FWHM 9TYFQSZRGJWTKTUYNTSXTZYXYFSINSLFSIJ]JWHNXFGQJFYYMJ end of the year 3ZRGJWTKTUYNTSXTZYXYFSINSLFXTS&UWNQ 3ZRGJWTKTUYNTSXLWFSYJIIZWNSL 3ZRGJWTKTUYNTSXQFUXJIIZWNSL 3ZRGJWTKTUYNTSX[JXYJIIZWNSL 3ZRGJWTKTUYNTSXJ]JWHNXJIIZWNSL 3ZRGJWTKXMFWJXFWNXNSLFXFWJXZQYTKJ]JWHNXJTKTUYNTSX IZWNSL 1TFSWJUFNIG^YMJ9WZXYIZWNSL KWTRJ]JWHNXJ 3TYFUUQNHFGQJ price received 072 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18 DIRECTORS’ REPORT FOR THE FINANCIAL YEAR ENDED MARCH 31, 2018 Sr. Particulars .VKYLQ7YVWLY[PLZ3PTP[LK No. ,TWSV`LL:[VJR.YHU[:JOLTL 2JYMTIZXJIYTFHHTZSYKTWYMJTUYNTSX The Company has calculated the employee compensation NNN .IJSYNÁJI JRUQT^JJX \MT \JWJ LWFSYJI TUYNTS IZWNSLFS^TSJ^JFWJVZFQYTTWJ]HJJINSL TKYMJ NXXZJI HFUNYFQ J]HQZINSL TZYXYFSINSL \FWWFSYX FSI conversions) of the company at the time of grant Diluted Earnings Per Share (EPS) pursuant to issue of The fair value of the employee share options has been XMFWJXTSJ]JWHNXJTKTUYNTSHFQHZQFYJINSFHHTWIFSHJ\NYM RJFXZWJIZXNSLYMJ'QFHP8HMTQJXTUYNTSXUWNHNSLRTIJQ &HHTZSYNSL8YFSIFWI &8·*FWSNSLX5JW8MFWJ¸ &IJXHWNUYNTSTKYMJRJYMTIFSIXNLSNÁHFSYFXXZRUYNTSX ZXJIIZWNSLYMJ^JFWYTJXYNRFYJYMJKFNW[FQZJXTKTUYNTSX NSHQZINSLYMJKTQQT\NSL\JNLMYJIF[JWFLJNSKTWRFYNTS N 7NXPKWJJNSYJWJXYWFYJ NN *]UJHYJIQNKJ YT^JFWX NNN *]UJHYJI[TQFYNQNY^ N[ *]UJHYJIIN[NIJSIXFSI 3NQ v) Closing price of the underlying share in market at the 073 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18 5HTL +LZPNUH[PVUVM:LUPVY4HUHNLYPHS .YHU[LKPU-@ .YHU[LKPU-@ .YHU[LKPU-@ Total 7LYZVUULS[V^OVTZ[VJRVW[PVUZOH]LILLU HUK HUK HUK V\[Z[HUKPUN NYHU[LK V\[Z[HUKPUNHZ V\[Z[HUKPUNHZ V\[Z[HUKPUNHZ options as at March 31, at March 31, at March 31, at March 31, 2018 2018 2018 2018 2W2TMNY2FQMTYWF2FSFLNSL)NWJHYTW (MNJK*]JHZYN[J4KÁHJW 2W/F^FSFSI5TYIFW(MNJK4UJWFYNSL4KÁHJW 2W7FOJSIWF0MJYF\FY(MNJK+NSFSHNFQ4KÁHJW 2X2FRYF'FPXMN(MNJK(ZXYTRJW4KÁHJW 2W&SZGMF[,ZUYF-JFIIJXNLS8YZINT 'ZXNSJXX-JFI;NPMWTQN 2W&RFSIJJU8NSLM'ZXNSJXX-JFI 074 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18 REPORT ON CORPORATE GOVERNANCE REPORT ON CORPORATE GOVERNANCE Company’s Philosophy on Code of Governance UWTKJXXNTSX\MNHMNSHQZIJXYMJ2FSFLNSL)NWJHYTW (MNJK *]JHZYN[J4KÁHJW TSJ*]JHZYN[J)NWJHYTWFSI JNLMY Corporate governance is an ethically driven business 3TS*]JHZYN[J)NWJHYTWXTK\MNHM XN]FWJ.SIJUJSIJSY process that is committed to values aimed at enhancing an )NWJHYTWX8NSHJYMJ(MFNWRFSTKYMJ'TFWINXF*]JHZYN[J organization’s wealth generating capacity. This is ensured by 3TS.SIJUJSIJSY )NWJHYTWTK YMJ (TRUFS^RTWJ YMFS HTSIZHYNSLGZXNSJXX\NYMFÁWRHTRRNYRJSYYT[FQZJX\MNQJ MFQK NJ TK YMJ 'TFWI TK YMJ (TRUFS^ HTRUWNXJX FYYMJXFRJYNRJRJJYNSLXYFPJMTQIJWX¸J]UJHYFYNTSX Independent DNWJHYTWXFXIJYFNQJIGJQT\: Strong leadership and effective corporate governance UWFHYNHJXMF[JGJJSYMJ(TRUFS^¸XMFQQRFWPNSMJWNYFSHJKWTR Category Name of Director DIN the Godrej group culture and ethos. The Company continues YTKTHZXNYXWJXTZWHJXXYWJSLYMXFSIXYWFYJLNJXYTGJKTWJ[JW Non-Executive Non- Mr. Jamshyd N. Godrej FRTSL YMJ SFYNTS¸X QJFINSL WJFQ JXYFYJ HTRUFSNJX \MNQJ Independent Directors Mr. Nadir B. Godrej continuing to be the most trusted name in the industry. &Y ,TIWJO 5WTUJWYNJX NY NX NRUJWFYN[J YMFY GZXNSJXX NX Non-Executive Mr. Amit B. Choudhury conducted in a fair and transparent manner. The corporate Independent Directors LT[JWSFSHJ KWFRJ\TWP JSXZWJX JKKJHYN[J JSLFLJRJSY \NYM 2W0JPN')FINXJYM [FWNTZX XYFPJMTQIJWX FSI MJQUX YMJ (TRUFS^ J[TQ[J \NYM Mrs. Lalita D. Gupte changing times. It oversees business strategies and ensures ÁXHFQFHHTZSYFGNQNY^JYMNHFQHTWUTWFYJGJMF[NTZWFSIKFNWSJXX 2W5WFSF^);FPNQ YT FQQ XYFPJMTQIJWX HTRUWNXNSL TK WJLZQFYTWX JRUQT^JJX HZXYTRJWX[JSITWXNS[JXYTWXFSIYMJXTHNJY^FYQFWLJ Dr. Pritam Singh The guiding principles and practices are summarised in this 2W&RNYF[F2ZPMJWOJJ Corporate Governance Report. These are articulated through the Company’s Code of Conduct for Board of Directors Managing Director & Mr. Mohit Malhotra FSI 8JSNTW 2FSFLJRJSY 5TQNHNJX FSI (MFWYJWX TK [FWNTZX CEO Committees of the Board and Company’s Disclosure Policies. Executive Chairman Mr. Pirojsha Godrej 9MJXJ 5TQNHNJX XJJP YT KTHZX TS JSMFSHJRJSY TK QTSL YJWR shareholder value without compromising on Ethical Standards b) Board meetings held and Directors’ attendance and Corporate Social Responsibilities. record THE GOVERNANCE STRUCTURE 9MJ 'TFWI QTTPX FY XYWFYJLNH UQFSSNSL FSI UTQNH^ 1) BOARD OF DIRECTORS formulation. The Board meets at least once in every quarter YT WJ[NJ\ YMJ (TRUFS^¸X TUJWFYNTSX FSI YT HTSXNIJW a) Board Structure FRTSL TYMJW GZXNSJXX YMJ VZFWYJWQ^ UJWKTWRFSHJ FSI 9MJ(TRUFS^MFXFSTUYNRFQHTRGNSFYNTSTKJ]JHZYN[J ÁSFSHNFQWJXZQYXTKYMJ(TRUFS^9MJRF]NRZRYNRJLFU STSJ]JHZYN[JFSINSIJUJSIJSYINWJHYTWXYTRFNSYFNSYMJ between any two meetings of the Board is not more than NSIJUJSIJSHJTKYMJ'TFWIKWTRYMJRFSFLJRJSY\MNHM IF^X 9MJ FLJSIF TK 'TFWI RJJYNSLX NX HNWHZQFYJI is in conformity with the requirement of Section 149(4) to all the Directors well in advance and contains all the TKYMJ(TRUFSNJX&HY YMJ&HYFSI7JLZQFYNTS relevant information. of SEBI Listing Obligations and Disclosure Requirements 7JLZQFYNTSX µ8*'. 14)7 7JLZQFYNTSX¶ &X TK The details of Board meetings held during the Financial 2FWHM YMJ'TFWITK)NWJHYTWXTKYMJ(TRUFS^ >JFW FSI)NWJHYTWX¸FYYJSIFSHJWJHTWIFWJLN[JS HTSXNXYJITK YJS)NWJHYTWXIWF\SKWTRIN[JWXJÁJQIX NS9FGQJFSI9FGQJ 075 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18 ;HISL!;OLKL[HPSZVMTLL[PUNZVM[OL)VHYKOLSKK\YPUN[OLÂUHUJPHS`LHY HYLHZ\UKLY! Sr. Date on which Board Meeting Total strength of the Board No. of Directors present at the Board No. was held on the date of Meeting Meeting 1 2F^ 11 11 &ZLZXY 11 9 3T[JRGJW 4 +JGWZFW^ ;HISL! +L[HPSZ HIV\[ [OL *VTWHU`ºZ +PYLJ[VYZ HUK TLL[PUNZ H[[LUKLK I` [OL +PYLJ[VYZ K\YPUN [OL -PUHUJPHS@LHY Sr. Name of Director Category Number Number Whether Directorships Number of Chairmanships/ No. of Board of Board attended held in Memberships in Board Meetings Meetings last AGM companies Committees as held attended (held on incorporated H[4HYJO during the during (\N\Z[ in India as (Including GPL) Financial the Financial H[4HYJO Chairmanship Memberships @LHY @LHY (i)(ii) (excluding (Including Memberships GPL) of Committees) 1. Mr. Jamshyd N. 3TS*]JHZYN[J 4 No -1 Godrej Director Mr. Nadir B. Godrej 3TS*]JHZYN[J 44Yes Director Mr. Pirojsha A. *]JHZYN[J 44Yes -1 Godrej Chairman 4. Mr. Mohit Malhotra Managing 4 4 Yes 1(1) - - )NWJHYTW (*4 Mr. Amit B. Independent 44Yes Choudhury Director 2W0JPN')FINXJYM Independent 44Yes 14 Director Mrs. Lalita D. Gupte Independent 44Yes Director 2W5WFSF^);FPNQ Independent 44Yes - Director 9. Dr. Pritam Singh Independent 4 No 1 Director *Mr. S. Narayan Independent 4 Yes - - - Director 11. Mr. Amitava Independent 44Yes 2ZPMJWOJJ Director Notes :- N (JFXJIYTGJF)NWJHYTWKWTRYMJ'TFWITKYMJ(TRUFS^\JK&ZLZXY NN )NWJHYTWXMNUNSHTRUFSNJXNSHTWUTWFYJIZSIJWXJHYNTS TKYMJ(TRUFSNJX&HYFSIKTWJNLSHTRUFSNJXFWJJ]HQZIJI (iii) Figures in ( ) denote listed companies. &XWJVZNWJIZSIJW7JLZQFYNTS TK8*'.14)77JLZQFYNTSXFSIHTSÁWRJIG^INWJHYTWXSTSJTKYMJ)NWJHYTWXFWJ NRJRGJW TKRTWJYMFS YJSHTRRNYYJJX FSI NNHMFNWRFSTKRTWJYMFS Á[JHTRRNYYJJX&XJUFWFYJRJJYNSLTKNSIJUJSIJSY INWJHYTWX\FXMJQITS&UWNQ YTinter aliaWJ[NJ\YMJUJWKTWRFSHJTKSTSNSIJUJSIJSYINWJHYTWX*]JHZYN[J(MFNWRFSTK the Company and the Board as a whole. 076 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18 REPORT ON CORPORATE GOVERNANCE ;HISL!5\TILYVMLX\P[`ZOHYLZOLSKI`LHJOVM[OL+PYLJ[VYZVW[PVUZOLSKHUKKP]PKLUKWHPK Name of Director Equity Shares held Dividend paid during the Number of options held under HZVU4HYJO -PUHUJPHS@LHY GPL ESGS (in `) Mr. Nadir B. Godrej 1 -- Mr. Jamshyd N. Godrej -- 9WZXYJJTK7FNPF,TIWJO Family Trust) Mr. Amit B. Choudhury -- 2W0JPN')FINXJYM --- Mrs. Lalita D. Gupte -- 2W5WFSF^);FPNQ --- Dr. Pritam Singh -- *Mr. S. Narayan - - - 2W&RNYF[F2ZPMJWOJJ --- Mr. Pirojsha Godrej -- Mr. Mohit Malhotra - # (JFXJIYTGJF)NWJHYTWKWTRYMJ'TFWITKYMJ(TRUFS^\JK&ZLZXY #.YNXJ]HJWNXFGQJT[JWFUJWNTITKYMWJJ^JFWX 1 .SHQZIJX XMFWJXMJQIFXTSJTKYMJYWZXYJJXTK-3,+FRNQ^9WZXY'3,+FRNQ^9WZXY83,+FRNQ^9WZXY 2 .SHQZIJX XMFWJXMJQIFXTSJTKYMJYWZXYJJXTK5,+FRNQ^9WZXY c) Relationship between Directors inter-se: The Company has issued a formal letter of appointment to the Independent Directors in the manner as provided *]HJUYFXINXHQTXJIGJQT\ST)NWJHYTWTKYMJ(TRUFS^ in the Act and SEBI LODR Regulations. The terms and is related to any other Director on the Board: conditions of appointment have also been displayed Mr. Pirojsha Godrej is nephew of Mr. Jamshyd N. Godrej on the website of the Company at MYYUX \\\ and Mr. Nadir B. Godrej. LTIWJOUWTUJWYNJXHTRNS[JXYTWHTWUTWFYJLT[JWSFSHJ e) Familiarisation Program for Independent d) Independent Directors Directors &YYMJ th Annual General Meeting of the Company held The Company has conducted the familiarisation program TS&ZLZXYYMJRJRGJWXMFIFUUTNSYJIFQQJ]NXYNSL for Independent Directors during the year. The Program NSIJUJSIJSYINWJHYTWXTKYMJ(TRUFS^GJNSL2W0JPN' aims to provide insights into the Company to enable the Independent Directors to understand its business in )FINXJYM2WX1FQNYF),ZUYJ2W&RNY'(MTZIMZW^ IJUYMYTFHHQNRFYNXJYMJR\NYMYMJUWTHJXXJXGZXNSJXXJX )W5WNYFR8NSLM2W&RNYF[F2ZPMJWOJJFSI2W5WFSF^ and functionaries of the Company and to assist them in ;FPNQ FX .SIJUJSIJSY )NWJHYTWX KTW F UJWNTI TK Á[J performing their role as Independent Directors of the ^JFWX KWTR &ZLZXY YT &ZLZXY &QQ YMJ Company. The Company’s Policy of conducting the NSIJUJSIJSY )NWJHYTWX MF[J HTSÁWRJI YMFY YMJ^ RJJY Familiarisation Program has been disclosed on the website YMJHWNYJWNFFXRJSYNTSJIZSIJW7JLZQFYNTS GTKYMJ of the Company at MYYUX \\\LTIWJOUWTUJWYNJXHTR 8*'.14)7WJFI\NYM8JHYNTS TKYMJ&HY NS[JXYTWHTWUTWFYJLT[JWSFSHJ 077 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18 *6440;;,,:6-;/,)6(9+ 8JHWJYFW^YTYMJ&ZINY(TRRNYYJJ-J\FXFQXTFUUTNSYJIFX YMJ (TRUQNFSHJ 4KÁHJW G^ YMJ 'TFWI YT JSXZWJ HTRUQNFSHJ A. AUDIT COMMITTEE and effective implementation of the Insider Trading Code. The composition of the Audit Committee of the Company is in The Audit Committee of the Company performs the following QNSJ\NYMYMJUWT[NXNTSXTK8JHYNTS TKYMJ(TRUFSNJX&HY functions: WJFI\NYM7JLZQFYNTS TK8*'.14)77JLZQFYNTSX9MJ (TRUFS^¸X&ZINY (TRRNYYJJ HTRUWNXJX XN] .SIJUJSIJSY 4[JWXJJNSL YMJ HTRUFS^¸X ÁSFSHNFQ WJUTWYNSL UWTHJXX Directors. The Committee met 4 (four) times during the FSI YMJ INXHQTXZWJ TK NYX ÁSFSHNFQ NSKTWRFYNTS YT JSXZWJ +NSFSHNFQ>JFWJSIJI2FWHM NJTS2F^ YMFY YMJ ÁSFSHNFQ XYFYJRJSY NX HTWWJHY XZKÁHNJSY FSI &ZLZXY 3T[JRGJW FSI+JGWZFW^ credible. Table 4 below gives composition and the attendance record for the aforesaid meetings of the Audit Committee: 7JHTRRJSIFYNTS KTW FUUTNSYRJSY WJFUUTNSYRJSY FSI terms of appointment of the statutory auditor and the Table 4: Composition and attendance record of Audit Á]FYNTSTKFZINYKJJX Committee members &UUWT[FQTKUF^RJSYYTXYFYZYTW^FZINYTWXKTWFS^TYMJW Sr. Name of Director No. of No. of services rendered by the statutory auditors. No. meetings meetings 7J[NJ\NSL \NYM YMJ RFSFLJRJSY YMJ FSSZFQ ÁSFSHNFQ held during attended statements and auditor’s report thereon before [OLÂUHUJPHS during the XZGRNXXNTS YT YMJ 'TFWI KTW FUUWT[FQ \NYM UFWYNHZQFW year ended ÂUHUJPHS reference to: 4HYJO year ended 4HYJO i. Matters required to be included in the Director’s Responsibility Statement to be included in the 1. 2W0JPN')FINXJYM 44 'TFWI¸XWJUTWYNSYJWRXTKYMJ(TRUFSNJX&HY (Chairman) NN (MFSLJXNKFS^NSFHHTZSYNSLUTQNHNJXFSIUWFHYNHJX Mrs. Lalita D. Gupte 4 4 FSIWJFXTSXKTWYMJXFRJ Mr. Amit B. 44 Choudhury iii. Major accounting entries involving estimates based TSYMJJ]JWHNXJTKOZILRJSYG^RFSFLJRJSY 4. 2W5WFSF^);FPNQ 44 Dr. Pritam Singh 4 N[ 8NLSNÁHFSY FIOZXYRJSYX RFIJ NS YMJ ÁSFSHNFQ XYFYJRJSYXFWNXNSLTZYTKFZINYÁSINSLX *Mr. S. Narayan 4 Mr. Amitava 44 v. Compliance with listing and other legal requirements 2ZPMJWOJJ WJQFYNSLYTÁSFSHNFQXYFYJRJSYX *Ceased to be a Director from the Board of the Company [N )NXHQTXZWJTKFS^WJQFYJIUFWY^YWFSXFHYNTSXFSI \JK&ZLZXY [NN 2TINÁJITUNSNTS XNSYMJIWFKYFZINYWJUTWY All the members of the Audit Committee are eminent UWTKJXXNTSFQXFSIIWF\ZUTSYMJNWJ]UJWNJSHJFSIJ]UJWYNXJ 7J[NJ\NSL FQTSL \NYM YMJ RFSFLJRJSY YMJ VZFWYJWQ^ FHWTXXF\NIJXUJHYWZRTKKZSHYNTSFQFWJFXXZHMFXÁSFSHJ ÁSFSHNFQXYFYJRJSYXGJKTWJXZGRNXXNTSYTYMJGTFWIKTW and corporate strategy. The Chairman of the Audit Committee approval. was present at the Annual General Meeting to answer 7J[NJ\NSL\NYMYMJRFSFLJRJSYYMJXYFYJRJSYTKZXJX Members’ queries. Minutes of each of the meetings of the FUUQNHFYNTS TK KZSIX WFNXJI YMWTZLM FS NXXZJ UZGQNH Audit Committee are placed before the Board in its meetings. NXXZJWNLMYXNXXZJUWJKJWJSYNFQNXXZJJYHYMJXYFYJRJSY 9MJ&ZINY(TRRNYYJJNS[NYJXYMJJ]JHZYN[JXTKYMJ(TRUFS^ of funds utilized for purposes other than those stated [N_ 2FSFLNSL )NWJHYTW (MNJK *]JHZYN[J 4KÁHJW *]JHZYN[J NSYMJTKKJWITHZRJSYUWTXUJHYZXSTYNHJFSIYMJWJUTWY )NWJHYTWX -JFI TK +NSFSHJ FX NY HTSXNIJWX FUUWTUWNFYJ FSI submitted by the monitoring agency monitoring the the representatives of the Statutory Auditors and Internal utilisation of proceeds of a public or rights issue and Auditors at its meetings. Mr. SuWJSIJW ;FWRF (TRUFS^ RFPNSL FUUWTUWNFYJ WJHTRRJSIFYNTSX YT YMJ 'TFWI YT 8JHWJYFW^ (MNJK1JLFQ4KÁHJWTKYMJ(TRUFS^FHYXFXYMJ YFPJZUXYJUXNSYMNXRFYYJW 078 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18 REPORT ON CORPORATE GOVERNANCE 7J[NJ\NSL FSI RTSNYTWNSL YMJ FZINYTW¸X NSIJUJSIJSHJ Review of information by Audit Committee FSIUJWKTWRFSHJFSIJKKJHYN[JSJXXTKFZINYUWTHJXX 2FSFLJRJSY INXHZXXNTS FSI FSFQ^XNX TK ÁSFSHNFQ &UUWT[FQTWFS^XZGXJVZJSYRTINÁHFYNTSTKYWFSXFHYNTSX HTSINYNTSFSIWJXZQYXTKTUJWFYNTSX TKYMJQNXYJIJSYNY^\NYMWJQFYJIUFWYNJX 8YFYJRJSY TK XNLSNÁHFSY WJQFYJI UFWY^ YWFSXFHYNTSX FX IJÁSJI G^ YMJ FZINY HTRRNYYJJ XZGRNYYJI G^ 8HWZYNS^TKNSYJWHTWUTWFYJQTFSXFSINS[JXYRJSYX RFSFLJRJSY ;FQZFYNTS TK ZSIJWYFPNSLX TW FXXJYX TK YMJ QNXYJI JSYNY^ 2FSFLJRJSY QJYYJWX QJYYJWX TK NSYJWSFQ HTSYWTQ \MJSJ[JWNYNXSJHJXXFW^ \JFPSJXXJXNXXZJIG^YMJXYFYZYTW^FZINYTWX *[FQZFYNTS TK NSYJWSFQ ÁSFSHNFQ HTSYWTQX FSI WNXP 4. Internal audit reports relating to internal control RFSFLJRJSYX^XYJRX \JFPSJXXJX 7J[NJ\NSL \NYM YMJ RFSFLJRJSY UJWKTWRFSHJ TK 9MJFUUTNSYRJSYWJRT[FQFSIYJWRXTKWJRZSJWFYNTSTK statutory and internal auditors and adequacy of the the Chief Internal Auditor shall be subject to review by the internal control systems. Audit Committee. 8YFYJRJSYTKIJ[NFYNTSX 7J[NJ\NSLYMJFIJVZFH^TKNSYJWSFQFZINYKZSHYNTSNKFS^ NSHQZINSLYMJXYWZHYZWJTKYMJNSYJWSFQFZINYIJUFWYRJSY (a) Quarterly statement of deviation(s) including report of XYFKÁSL FSI XJSNTWNY^ TK YMJ TKÁHNFQ MJFINSL YMJ RTSNYTWNSL FLJSH^ NK FUUQNHFGQJ XZGRNYYJI YT XYTHP IJUFWYRJSYWJUTWYNSLXYWZHYZWJHT[JWFLJFSIKWJVZJSH^ J]HMFSLJ X NS YMJ YJWRX TK 7JLZQFYNTS TK 8*'. of internal audit. LODR Regulations. (b) Annual statement of funds utilized for purposes other than )NXHZXXNTS\NYMNSYJWSFQFZINYTWXTKFS^XNLSNÁHFSYÁSINSLX YMTXJXYFYJINSYMJTKKJWITHZRJSYUWTXUJHYZXSTYNHJNS and follow up there on. YJWRXTK7JLZQFYNTS 8*'.14)77JLZQFYNTSX 7J[NJ\NSLYMJÁSINSLXTKFS^NSYJWSFQNS[JXYNLFYNTSXG^YMJ internal auditors into matters where there is suspected B. NOMINATION & REMUNERATION COMMITTEE fraud or irregularity or a failure of internal control systems 9MJ HTSXYNYZYNTS XHTUJ FSI UT\JWX TK YMJ 3TRNSFYNTS of a material nature and reporting the matter to the board. Remuneration Committee of the Board of Directors are )NXHZXXNTS \NYM XYFYZYTW^ FZINYTWX GJKTWJ YMJ FZINY NS FHHTWIFSHJ \NYM YMJ UWT[NXNTSX TK 8JHYNTS TK YMJ HTRRJSHJXFGTZYYMJSFYZWJFSIXHTUJTKFZINYFX\JQQ Companies Act and Regulation 19 of SEBI LODR Regulations. as post-audit discussion to ascertain any area of concern. 9MJ 3TRNSFYNTS 7JRZSJWFYNTS (TRRNYYJJ QTTPX FY FQQ 9T QTTP NSYT YMJ WJFXTSX KTW XZGXYFSYNFQ IJKFZQYX NS matters pertaining to the appointment and remuneration of YMJ UF^RJSY YT YMJ IJUTXNYTWX IJGJSYZWJ MTQIJWX YMJ2FSFLNSL)NWJHYTW (MNJK*]JHZYN[J4KÁHJWYMJ*]JHZYN[J shareholders (in case of non-payment of declared )NWJHYTWX 0J^ 2FSFLJWNFQ 5JWXTSSJQ 8JSNTW 2FSFLJRJSY dividends) and creditors. 5JWXTSSJQ FSI FIRNSNXYWFYNTS TK YMJ JRUQT^JJ XYTHP TUYNTS scheme of the Company i.e. the Godrej Properties Limited 9T WJ[NJ\ YMJ KZSHYNTSNSL TK YMJ 079 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18 Table 5: Composition and attendance record of C. CORPORATE SOCIAL RESPONSIBILITY Nomination & Remuneration Committee members COMMITTEE Sr. Name of Director No. of No. of The Corporate Social Responsibility (CSR) Committee of the No. meetings meetings Board of Directors of the Company consist of the following held during attended members: [OLÂUHU- during the 2W&RNY'(MTZIMZW^.SIJUJSIJSY)NWJHYTW cial year ÂUHUJPHS ended year ended 2W5NWTOXMF,TIWJO*]JHZYN[J(MFNWRFS 4HYJO 4HYJO 2W 2TMNY 2FQMTYWF 2FSFLNSL )NWJHYTW FSI (MNJK*]JHZYN[J4KÁHJW 1 Mrs. Lalita D. Gupte (Chairperson) 9MJ (TRRNYYJJ IZWNSL YMJ +NSFSHNFQ >JFW RJY TS Y\TTHHFXNTSXNJTS&UWNQ FSI/FSZFW^ 2W0JPN')FINXJYM YTWJ[NJ\YMJXYFYZXTKYMJ(87UWTOJHYXZSIJWYFPJSG^YMJ Mr. Amit B. Choudhury (TRUFS^ IZWNSL YMJ ÁSFSHNFQ ^JFW 9MJ SJHJXXFW^ 4 2W5WFSF^);FPNQ quorum was present for all the meetings. Dr. Pritam Singh 2W8ZWJSIJW;FWRF(TRUFS^8JHWJYFW^ (MNJK1JLFQ4KÁHJW of the Company acts as the Secretary of the Corporate Social *Mr. S. Narayan Responsibility Committee. 2W&RNYF[F2ZPMJWOJJ The CSR Policy of the Company has been put up on the *Ceased to be a Director from the Board of the Company website of the Company at MYYUX \\\LTIWJOUWTUJWYNJX \JK&ZLZXY HTRNS[JXYTWHTWUTWFYJLT[JWSFSHJ. The Annual Report on 2W8ZWJSIJW;FWRF(TRUFS^8JHWJYFW^ (MNJK1JLFQ4KÁHJW (TWUTWFYJ 8THNFQ 7JXUTSXNGNQNY^ FHYN[NYNJX ZSIJWYFPJS G^ YMJ TK YMJ (TRUFS^ FHYX FX YMJ 8JHWJYFW^ TK YMJ 3TRNSFYNTS (TRUFS^ IZWNSL YMJ ÁSFSHNFQ ^JFW FX UWJXHWNGJI Remuneration Committee. ZSIJW 8JHYNTS TK YMJ (TRUFSNJX &HY FSI YMJ (TRUFSNJX (TWUTWFYJ 8THNFQ 7JXUTSXNGNQNY^ 5TQNH^ 7ZQJX Following are the roles of Nomination and Remuneration MF[JGJJSFUUJSIJIFX&SSJ]ZWJ;YT)NWJHYTWX7JUTWY Committee: The Role and Responsibilities of the CSR Committee includes +TWRZQFYNTSTKYMJHWNYJWNFKTWIJYJWRNSNSLVZFQNÁHFYNTSX the following: positive attributes and independence of a director and recommend to the Board of Directors a policy relating 9TKTWRZQFYJFSIWJHTRRJSIYTYMJ'TFWIF(TWUTWFYJ YT YMJ WJRZSJWFYNTS TK YMJ INWJHYTWX PJ^ RFSFLJWNFQ Social Responsibility Policy which shall include the UJWXTSSJQFSITYMJWJRUQT^JJX FHYN[NYNJXYTGJZSIJWYFPJSG^YMJ(TRUFS^FXJS[NXFLJI NSYMJ(TRUFSNJX&HY +TWRZQFYNTS TK HWNYJWNF KTW J[FQZFYNTS TK UJWKTWRFSHJ TK NSIJUJSIJSYINWJHYTWXFSIYMJ'TFWITK)NWJHYTWX 9TWJHTRRJSIYTYMJ'TFWIYMJFRTZSYTKJ]UJSINYZWJYT be incurred on the activities as per the Corporate Social )J[NXNSLFUTQNH^TSIN[JWXNY^TK'TFWITK)NWJHYTWX 7JXUTSXNGNQNY^5TQNH^TKYMJ(TRUFS^ .IJSYNK^NSLUJWXTSX\MTFWJVZFQNÁJIYTGJHTRJINWJHYTWX 9TRTSNYTWYMJUWTOJHYXFSIFHYN[NYNJXFXUJWYMJ(TWUTWFYJ and who may be appointed in senior management in 8THNFQ7JXUTSXNGNQNY^5TQNH^TKYMJ(TRUFS^ FHHTWIFSHJ\NYMYMJHWNYJWNFQFNIIT\SFSIWJHTRRJSI YTYMJ'TFWITK)NWJHYTWXYMJNWFUUTNSYRJSYFSIWJRT[FQ 4. To review the performance of the Company in the area of Corporate Social Responsibility including the evaluation D. ALLOTMENT COMMITTEE The said Policy outlines the appointment criteria and VZFQNÁHFYNTSXYMJYJWRYJSZWJTKYMJ)NWJHYTWXTSYMJ'TFWI The Allotment Committee has been formed to complete the of Godrej Properties Limited and the matters related to formalities relating to allotment of securities and to authorise WJRZSJWFYNTSTKYMJ)NWJHYTWX025X 8JSNTW2FSFLJRJSY TKÁHNFQX TK YMJ (TRUFS^ YT ÁQJ KTWRX FSI WJYZWSX \NYM 9MJXFNI5TQNH^MFXGJJSUZGQNXMJIFXFS&SSJ]ZWJ3T...YT regulatory authorities. The Committee comprises the following Director’s Report included in this Annual Report. directors as its members: The Company paid sitting fees of ` 7ZUJJX 4SJ 2W5NWTOXMF,TIWJO*]JHZYN[J(MFNWRFS 1FPMTSQ^YTNYXSTSJ]JHZYN[JINWJHYTWXKTWFYYJSINSLJ[JW^ 2W&RNY'(MTZIMZW^.SIJUJSIJSY)NWJHYTW RJJYNSLTKYMJ'TFWI&ZINYFSI3TRNSFYNTS 7JRZSJWFYNTS Committee ` 7ZUJJX4SJ1FPMTSQ^FSI` (Twenty Thousand only) for every meeting of the Corporate 9MJ &QQTYRJSY (TRRNYYJJ IZWNSL YMJ +NSFSHNFQ >JFW Social Responsibility Committee. RJYTSWJLZQFWNSYJW[FQXYTFQQTYJVZNY^XMFWJXFWNXNSLTZY TK TUYNTSX J]JWHNXJI G^ YMJ JQNLNGQJ JRUQT^JJX ZSIJW YMJ 9MJWJRZSJWFYNTSTKYMJ2FSFLNSL)NWJHYTW (MNJK*]JHZYN[J ,TIWJO 5WTUJWYNJX 1NRNYJI *RUQT^JJ 8YTHP ,WFSY 8HMJRJ 4KÁHJWFSIYMJ*]JHZYN[J(MFNWRFSNXNSHTSXJSXZX\NYMYMJ ,51*8,89MJSJHJXXFW^VZTWZR\FXUWJXJSYKTWFQQ (TRUFS^¸XXN_JNSIZXYW^UWFHYNHJFSIT[JWFQQUJWKTWRFSHJTK YMJRJJYNSLX9MJHTRRNYYJJIZWNSLYMJ^JFWFQQTYYJI YMJ (TRUFS^ 9MJ 3TRNSFYNTS 7JRZSJWFYNTS (TRRNYYJJ unsecured Redeemable Rated Non – Convertible Series 1 XZGRNYX NYX WJHTRRJSIFYNTS YT YMJ 'TFWI \MNHM FKYJW ` ` (NCDs) of face value JFHMFLLWJLFYNSLYT HTSXNIJWNSL YMJ WJHTRRJSIFYNTS YFPJX IJHNXNTS TS YMJ crore. WJRZSJWFYNTS UF^FGQJ YT YMJ 2FSFLNSL )NWJHYTW (MNJK *]JHZYN[J 4KÁHJW FSI YMJ *]JHZYN[J (MFNWRFS \MNHM FQXT 3) REMUNERATION OF DIRECTORS includes the annual increments and performance bonus) in FHHTWIFSHJ\NYMYMJUWT[NXNTSXTKYMJ(TRUFSNJX&HY The Board has formulated the Nomination and Remuneration XZGOJHYYTYMJFUUWT[FQTKYMJ2JRGJWX\MJWJ[JWWJVZNWJI 5TQNH^ TK )NWJHYTWX 0J^ 2FSFLJWNFQ 5JWXTSSJQ 025X FSI 8JSNTW2FSFLJRJSYNSYJWRXTKYMJUWT[NXNTSXTK8JHYNTS 9MJIJYFNQXTKWJRZSJWFYNTSUFHPFLJTKYMJ)NWJHYTWXFSIYMJNW TK YMJ (TRUFSNJX &HY FSI 8*'. 14)7 7JLZQFYNTSX relationships with each othJWNKFS^FWJLN[JSNS9FGQJGJQT\: ;HISL !9LT\ULYH[PVUWHPKWH`HISL[V[OL+PYLJ[VYZMVY[OLÂUHUJPHS`LHYLUKLK4HYJO (`NS1FPM Name of Director Relationship with Sitting Commission* Salary Perquisites Provident Others** Total other Directors Fees Fund Mr. Jamshyd N. Godrej - Nil Nil Nil Nil Mr. Nadir B. Godrej - Nil Nil Nil Nil Mr. Amit B. Choudhury - Nil Nil Nil Nil 2W0JPN')FINXJYM - Nil Nil Nil Nil Mrs. Lalita D. Gupte - Nil Nil Nil Nil 2W5WFSF^);FPNQ - Nil Nil Nil Nil #Mr. S. Narayan - - Nil Nil Nil Nil 2W&RNYF[F2ZPMJWOJJ - Nil Nil Nil Nil Dr. Pritam Singh - Nil Nil Nil Nil Mr. Pirojsha Godrej Nephew of Nil Nil Mr. Jambhyd N. ,TIWJO Mr. Nadir B. Godrej Mr. Mohit Malhotra - Nil Nil Notes: (TRRNXXNTSKTWYMJÁSFSHNFQ^JFW NXUFNINSYMJÁSFSHNFQ^JFW #(JFXJIYTGJF)NWJHYTWKWTRYMJ'TFWITKYMJ(TRUFS^\JK&ZLZXY 4YMJWXNXYT\FWIXUWT[NXNTSRFIJKTWYMJ5JWKTWRFSHJ'TSZXKTWYMJÁSFSHNFQ^JFW :SIJWYMJ+NSFSHJ&HY FXFRJSIJIXJW[NHJYF] FQTSL\NYMJIZHFYNTSHJXXFSIXJHTSIFW^ MNLMJWJIZHFYNTSHJXX\FX also paid under reverse charge mechanism by the Company. 081 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18 9MJ XJW[NHJ HTSYWFHYX TK YMJ *]JHZYN[J (MFNWRFS FSI 3() MTQIJWX FSI Á]JI IJUTXNY MTQIJWX NSHQZINSL NS[JXYTWX¸ 2FSFLNSL)NWJHYTW (MNJK*]JHZYN[J4KÁHJWTK^TZW(TRUFS^ HTRUQFNSYX WJQFYNSL YT YWFSXKJW TK XMFWJX NXXZJ TK IZUQNHFYJ FWJKTWFUJWNTITKYMWJJ^JFWX\NYMFSTYNHJUJWNTITKYMWJJ HTSXTQNIFYJIXMFWJHJWYNÁHFYJXWJ[NJ\TKHFXJXKTWWJKZXFQTK months. YWFSXKJWYWFSXRNXXNTSTKXMFWJXFSIIJGJSYZWJXSTSWJHJNUY *]HJUYKTWIWF\NSLWJRZSJWFYNTSSTSJTKYMJ)NWJHYTWXMF[J TK GFQFSHJ XMJJY STSWJHJNUY TK IN[NIJSIX IJHQFWJI FSI FQQ other securities-holders related matters. It is also responsible FS^ TYMJW RFYJWNFQQ^ XNLSNÁHFSY WJQFYJI UFWY^ YWFSXFHYNTSX pecuniary relationship or transaction with the Company. The for reviewing the process and mechanism of redressal of investor complaints and suggesting measures of improving Company enters into transactions in the ordinary course of business with the companies in which the Directors hold YMJJ]NXYNSLX^XYJRTKWJIWJXXFQTKNS[JXYTWLWNJ[FSHJX9MNX Committee is also responsible for approval of transfer and directorship. Attention of the Members is drawn to the YWFSXRNXXNTS TK XJHZWNYNJX NSHQZINSL UT\JW YT IJQJLFYJ YMJ disclosures of transactions with related parties set out in Notes same to the Registrar and Transfer Agents. YT&HHTZSYX3TYJ3TTK8YFSIFQTSJ+NSFSHNFQ8YFYJRJSYX forming part of the Annual Report. 5HTLHUK+LZPNUH[PVUVM*VTWSPHUJL6MÂJLY! Mr. Surender Varma 4) STAKEHOLDERS’ RELATIONSHIP COMMITTEE (TRUFS^8JHWJYFW^ (MNJK1JLFQ4KÁHJWNXYMJ(TRUQNFSHJ 9MJ8YFPJMTQIJWX¸7JQFYNTSXMNU(TRRNYYJJTKYMJ'TFWI 4KÁHJWTKYMJ(TRUFS^ consists of the following members: Status of Investor Complaints for the Financial Year 2W5NWTOXMF,TIWJO*]JHZYN[J(MFNWRFS FSI LUKLK4HYJO ! 2W&RNY'(MTZIMZW^.SIJUJSIJSY)NWJHYTW (TRUQFNSYXTZYXYFSINSLFXTS&UWNQ 2W &RNY ' (MTZIMZW^ NX YMJ (MFNWRFS TK 8YFPJMTQIJWX¸ (TRUQFNSYXWJHJN[JIIZWNSLYMJÁSFSHNFQ^JFWJSIJI Relationship Committee .The Committee during the Financial 2FWHM >JFW RJYTS KTZWTHHFXNTSXNJTS&UWNQ (TRUQFNSYXWJXTQ[JIIZWNSLYMJÁSFSHNFQ^JFWJSIJI /ZQ^ 4HYTGJW FSI/FSZFW^ 2FWHM 2W8ZWJSIJW;FWRF(TRUFS^8JHWJYFW^ (MNJK1JLFQ4KÁHJW (TRUQFNSYXTZYXYFSINSLFXTS2FWHM TK YMJ (TRUFS^ FHYX FX YMJ 8JHWJYFW^ TK YMJ 8YFPJMTQIJWX )ZWNSLYMJ^JFWZSIJWWJ[NJ\YMJ(TRUFS^INISTYWJHJN[JI Relationship Committee. any investor’s complaints through SEBI Compliant Redress 9MJ8YFPJMTQIJWX¸7JQFYNTSXMNU(TRRNYYJJQTTPXNSYTWJIWJXXFQ System (SCORES). of the grievances of Security holders viz. shareholders’ 9MJWJFWJSTUJSINSLXMFWJYWFSXKJWXFXTS2FWHM 082 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18 REPORT ON CORPORATE GOVERNANCE 5) GENERAL BODY MEETINGS a) Details of previous three General Meetings of the Company are as under: Financial Venue Date Time Year 9MJ&ZINYTWNZR,TIWJO4SJ5NWTOXMFSFLFW*FXYJWS*]UWJXX-NLM\F^ &ZLZXY 52 ;NPMWTQN *FXY2ZRGFN 9MJ&ZINYTWNZR,TIWJO4SJ5NWTOXMFSFLFW*FXYJWS*]UWJXX-NLM\F^ &ZLZXY 52 ;NPMWTQN *FXY2ZRGFN 9MJ&ZINYTWNZR,TIWJO4SJ5NWTOXMFSFLFW*FXYJWS*]UWJXX-NLM\F^ &ZLZXY 52 ;NPMWTQN *FXY2ZRGFN b) Details of special resolutions passed in previous three Annual General Meetings of the Company are as under: Date of AGM Number Details of Special Resolutions Passed of Special Resolutions passed &ZLZXY N 7FYNÁHFYNTSTKWJIJXNLSFYNTSTK2W5NWTOXMF,TIWJOFXYMJ*]JHZYN[J(MFNWRFSFSI WJ[NXNTSNSWJRZSJWFYNTS ).3 NN 7FYNÁHFYNTSTKWJIJXNLSFYNTSTK2W2TMNY2FQMTYWFFXYMJ2FSFLNSL)NWJHYTW (MNJK *]JHZYN[J4KÁHJWFSIWJ[NXNTSNSWJRZSJWFYNTS ).3 iii. Approval for enhancement of borrowing limit iv. Approval for creation of charge on properties of Company v. Approval for issue of Non – Convertible Debentures &ZLZXY N 083 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18 6) MEANS OF COMMUNICATION Name of Stock Address Stock/Scrip All vital information relating to the Company and its Exchange code UJWKTWRFSHJ NSHQZINSL FSSZFQ WJUTWYX VZFWYJWQ^ WJXZQYX BSE Limited th+QTTW5/ *VZNY^ XMFWJMTQINSLUFYYJWSWJUTWYTS(TWUTWFYJ,T[JWSFSHJTKÁHNFQ (BSE) 9T\JWX 3()¸X UWJXX WJQJFXJX FSI UWJXJSYFYNTSX YT FSFQ^XYX UJWKTWRFSHJ )FQFQ8YWJJY updates are posted on the website of the Company 2ZRGFN www.godrejproperties.com and the copies of the same are XJSY YT YMJ '8* 1NRNYJI FSI YMJ 3FYNTSFQ 8YTHP *]HMFSLJ The National *]HMFSLJ5QF_F GODREJPROP of India Limited. The quarterly and annual results of the 8YTHP ('QTHP, (TRUFS^¸X ÁSFSHNFQ UJWKTWRFSHJ FWJ UZGQNXMJI NS QJFINSL *]HMFSLJTK Bandra Kurla *SLQNXM IFNQNJX QNPJ YMJ +NSFSHNFQ *]UWJXX FSI 1TPXFYYF India Limited (TRUQJ] +ZWYMJWYMJFSSZFQWJUTWYXHTSYFNSNSLFZINYJIXYFSIFQTSJFSI (NSE) 'FSIWF * HTSXTQNIFYJI ÁSFSHNFQ XYFYJRJSYX TK YMJ (TRUFS^ YTLJYMJW 2ZRGFN \NYM)NWJHYTWX¸7JUTWY&ZINYTWX¸7JUTWYFSITYMJWNRUTWYFSY The ISIN No. of the Company’s equity shares on both information are circulated to the members and others entitled National Securities Depository Limited and Central thereto. Depository Services (India) Limited is 05, 1 . .,5,9(3:/(9,/63+,9:º05-694(;065 The CIN of the Company is3 4/ 73* . &SSZFQQNXYNSLKJJKTWYMJ^JFW MFXGJJSUFNIG^ a) Annual General Meeting the Company to BSE and NSE. Date 9MZWXIF^&ZLZXY e) Stock Data Time UR 9FGQJ FSI9FGQJ WJXUJHYN[JQ^LN[JYMJRTSYMQ^MNLMFSIQT\ Venue ,TIWJO4SJ9MJ&ZINYTWNZR5NWTOXMFSFLFW prices and volumes of equity shares of the Company at the *FXYJWS *]UWJXX -NLM\F^ ;NPMWTQN *FXY '8*FSI38*KTWYMJÁSFSHNFQ^JFWJSIJI2FWHM 2ZRGFN ;HISL ! 4VU[OS` OPNO HUK SV^ WYPJLZ HUK ]VS\TLZ VM b) Financial Calendar LX\P[`ZOHYLZVM[OL*VTWHU`H[):,MVY[OLÂUHUJPHS `LHYLUKLK4HYJO ! +NSFSHNFQ>JFW &UWNQYT2FWHM Month High Low Volumes Traded +TWYMJÁSFSHNFQ^JFWJSIJI2FWHM YMJÁSFSHNFQ (`) (`) (No. of equity results were announced on: shares) April &ZLZXY : First Quarter May 3T[JRGJW : Second Quarter 1\UL +JGWZFW^ : Third Quarter 1\S` 2F^ : Annual August c) Dividend Payment Date September The Board has not recommended any dividend for the October ÁSFSHNFQ^JFWJSIJI2FWHM November d) Listing information December 1HU\HY` The Company’s equity shares are listed on the BSE 1NRNYJIFSIYMJ3FYNTSFQ8YTHP*]HMFSLJTK.SINF1NRNYJI February Non-Convertible Debentures (NCD’s) of the company are March listed on BSE Limited. 084 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18 REPORT ON CORPORATE GOVERNANCE ;HISL ! 4VU[OS` OPNO SV^ WYPJLZ HUK ]VS\TLZ VM f) Share Transfer Agent LX\P[`ZOHYLZVM[OL*VTWHU`H[5:,MVY[OLÂUHUJPHS Karvy Computershare Private Limited `LHYLUKLK4HYJO ! (Unit: Godrej Properties Limited) Month High Low Volumes Traded 0FW[^8JQJSNZR9T\JW'5QTY3T (`) (`) (No. of equity +NSFSHNFQ)NXYWNHY,FHMNGT\QN shares) 3FSFPWFRLZIF8JWNQNSLFRUFQQ^ April -^IJWFGFI May 5MTSJ 1\UL +F] 1\S` *RFNQ.) JNS\FWIWNX%PFW[^HTR 9TQQ+WJJ3T August Contact Person: Mr. K. S. Reddy September October g) Share transfer system November The Company has outsourced its share transfer function for December XMFWJX MJQI NS UM^XNHFQ KTWR YT 2X 0FW[^ (TRUZYJWXMFWJ 1HU\HY` 5WN[FYJ 1NRNYJI \MNHM NX WJLNXYJWJI \NYM YMJ 8JHZWNYNJX FSI *]HMFSLJ 'TFWI TK .SINF MF[NSL 7JLNXYWFYNTS 3T February .37 8MFWJ YWFSXKJW NX STWRFQQ^ FKKJHYJI \NYMNS F March UJWNTITKIF^XKWTRYMJIFYJTKWJHJNUYTKWJVZJXYNKFQQYMJ Note -NLM FSI QT\ UWNHJX FWJ NS WZUJJX UJW YWFIJI JVZNY^ required documentation is submitted. share derived from the closing prices. Volume is the total monthly volume of trade (in numbers) in equity shares of the Company on BSE and NSE. The Company’s equity share performance compared to BSE Sensex & BSE Realty Index is as under: 350 300 250 200 150 100 50 0 Mar-17 May-17 Jun-17 Aug-17 Sep-17 Nov-17 Dec-17 Feb-18 Mar-18 GPL Sensex BSE Realty .SIJ]JI5WNHJRT[JRJSYKWTR&UWNQ YT2FWHM 085 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18 O+PZ[YPI\[PVUVMZOHYLOVSKPUNHZVU4HYJO Sr. Category No. of Share Holders % of Share Holders No. of equity shares Amount (`) No. 1 ³ ³ ³ 4 ³ ³ ³ ³ >[J Total P :OHYLOVSKPUNWH[[LYUHZVU4HYJO j) Shares held in physical and dematerialized form i) Distribution of equity shareholding : Sr. Category No. of No. of equity % of Category Number of Shareholders Number of Shareholding No. Share shares held share- shareholders % equity shares % Holders holding held 1 Promoters Physical Mutual Funds NSDL 'FSPX CDSL 4 Foreign Institutional Investors Total Other Bodies Corporate Break up of physical and dematerialized shares as VU4HYJO Resident Individuals (Public) 6.42 Non-Resident 1119 Indians Others Total ii) Categories of equity shareholders : 0.45 11.29 0.05 Promoters Mutual Funds 1.97 Banks 93.56 8.88 Foreign Institutional Investors Other Bodies Corporate k) Outstanding GDRs/ADRs/warrants/ 0.03 Resident Individuals (Public) 2.46 convertible instruments and their impact on Non-Resident Indians equity Others 9MJ(TRUFS^ITJXSTYMF[JFS^TZYXYFSINSL,)7X&)7X 74.87 warrants or convertible instruments. 086 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18 REPORT ON CORPORATE GOVERNANCE l) Address for Correspondence b) Details of non-compliance Investor correspondence should be addressed to: There has not been any non-compliance by the Company For Equity Shares:- and no penalties or strictures were imposed on the (TRUFS^G^'8*1NRNYJIYMJ3FYNTSFQ8YTHP*]HMFSLJ Karvy Computershare Private Limited TK.SINF1NRNYJIYMJ8JHZWNYNJXFSI*]HMFSLJ'TFWITK (Unit: Godrej Properties Limited) .SINF TW FS^ TYMJW XYFYZYTW^ FZYMTWNY^NS WJQFYNTS YT FS^ 0FW[^8JQJSNZR9T\JW'5QTY3T RFYYJWWJQFYJIYTHFUNYFQRFWPJYXIZWNSLQFXYYMWJJ^JFWX +NSFSHNFQ)NXYWNHY,FHMNGT\QN3FSFPWFRLZIF 8JWNQNSLFRUFQQ^-^IJWFGFI c) Whistle Blower Policy – Vigil Mechanism 5MTSJ +F] 9MJ(TRUFS^¸X As per Schedule V of Part F of SEBI LODR Regulations the Company reports the following details in respect of equity shares lying in the suspense account which were issued pursuant to the public issue. Sr. Particulars No. of Cases No. of Equity No. MVY[OL-PUHUJPHS@LHY Shares 1. Aggregate number of shareholders and the outstanding equity shares in the 1 XZXUJSXJFHHTZSYQ^NSLFYYMJGJLNSSNSLTKYMJ^JFW Number of shareholders who approached issuer for transfer of equity shares -- KWTRXZXUJSXJFHHTZSYIZWNSLYMJ^JFW Number of shareholders to whom equity shares were transferred from suspense -- FHHTZSYIZWNSLYMJ^JFW 4. Aggregate number of shareholders and the outstanding equity shares in the 1 suspense account lying at the end of the year*. *The voting rights on the equity shares shall be frozen till the rightful owner claims such shares. j) Transfer of Unclaimed/Unpaid Dividend 9MJ(TRUFS^XMFQQGJYWFSXKJWWNSLYMJZSHQFNRJIZSUFNIIN[NIJSIXFXRJSYNTSJIMJWJZSIJWYTYMJ.S[JXYTWX*IZHFYNTS FSI5WTYJHYNTS+ZSI .*5+JXYFGQNXMJIG^YMJ(JSYWFQ,T[JWSRJSYNSYJWRXTKYMJUWT[NXNTSXTK8JHYNTS&FSI( TKYMJ(TRUFSNJX&HY 8JHYNTSFSITKYMJ(TRUFSNJX&HY Sr. Financial Year AGM Date of Dividend declared Due date for transfer unclaimed/ No. declaration of dividend per share (`) unpaid dividend to IEPF 1. YM /ZQ^ &ZLZXY YM /ZQ^ 8JUYJRGJW YM /ZQ^ 8JUYJRGJW 4. YM &ZLZXY 8JUYJRGJW YM &ZLZXY 8JUYJRGJW .S YJWRX TK YMJ UWT[NXNTSX TK .S[JXYTW *IZHFYNTS FSI 5WTYJHYNTS +ZSI &HHTZSYNSL &ZINY 9WFSXKJWFSI 7JKZSI 7ZQJX .S[JXYTW *IZHFYNTS FSI 5WTYJHYNTS +ZSI &\FWJSJXX FSI 5WTYJHYNTS TK .S[JXYTWX 7ZQJX 7X TK ZSUFNIZSHQFNRJIIN[NIJSIXFSI XMFWJX\JWJYWFSXKJWWJIIZWNSLYMJÁSFSHNFQ^JFW YTYMJ.S[JXYTW*IZHFYNTS and Protection Fund. 9MJ(TRUFS^MFXFUUTNSYJIF3TIFQ4KÁHJWZSIJWYMJUWT[NXNTSXTK.*5+YMJIJYFNQXTK\MNHMFWJF[FNQFGQJTSYMJ\JGXNYJ of the Company MYYUX \\\LTIWJOUWTUJWYNJXHTRNS[JXYTWHTSYFHYX. 088 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18 REPORT ON CORPORATE GOVERNANCE 9MJ(TRUFS^MFXZUQTFIJIYMJIJYFNQXTKZSUFNIFSIZSHQFNRJIFRTZSYXQ^NSL\NYMYMJ(TRUFS^FXTS&ZLZXY (date of last AGM) on the Company’s website MYYUX \\\LTIWJOUWTUJWYNJXHTRNS[JXYTWZSHQFNRJIZSUFNIFRTZSYX and on the website of the Ministry of Corporate Affairs at www.iepf.gov.in. +,;(03:6-*64730(5*,>0;/4(5+(;69@9,8<09,4,5;:6-:,)036+99,.<3(;065:! I. Disclosure on website in terms of listing regulations Item Compliance Status (Yes/No/NA) refer note below Details of business Yes Terms and conditions of appointment of independent directors Yes Compositions of various committees of board of directors Yes Code of conduct of board of directors and senior management personnel Yes )JYFNQXTKJXYFGQNXMRJSYTK[NLNQRJHMFSNXR Email address for grievance redressal and other relevant details Yes Financial results Yes Shareholding pattern Yes )JYFNQXTKFLWJJRJSYXJSYJWJINSYT\NYMYMJRJINFHTRUFSNJXFSITWYMJNWFXXTHNFYJX Not Applicable New name and the old name of the listed entity Not Applicable 00(UU\HS(MÂYTH[PVUZ Particulars Regulation Number Compliance status (Yes/ No/NA) refer note below Independent director(s) have been appointed in terms of G Yes XUJHNÁJIHWNYJWNFTK·NSIJUJSIJSHJ¸FSITW·JQNLNGNQNY^¸ Board composition Yes Meeting of Board of directors Yes Review of Compliance Reports Yes Plans for orderly succession for appointments Yes Code of Conduct Yes +JJXHTRUJSXFYNTS Yes Minimum Information Yes (TRUQNFSHJ(JWYNÁHFYJ Yes 7NXP&XXJXXRJSY 2FSFLJRJSY Yes Performance Evaluation of Independent Directors Yes 089 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18 00(UU\HS(MÂYTH[PVUZ Particulars Regulation Number Compliance status (Yes/ No/NA) refer note below Composition of Audit Committee Yes Meeting of Audit Committee Yes (TRUTXNYNTSTKSTRNSFYNTS WJRZSJWFYNTSHTRRNYYJJ Yes (TRUTXNYNTSTK8YFPJMTQIJW7JQFYNTSXMNU(TRRNYYJJ Yes (TRUTXNYNTSFSIWTQJTKWNXPRFSFLJRJSYHTRRNYYJJ Not Applicable Vigil Mechanism Yes Policy for related party Transaction Yes Prior or Omnibus approval of Audit Committee for all related Yes party transactions Approval for material related party transactions Not Applicable Composition of Board of Directors of unlisted material Yes Subsidiary Other Corporate Governance requirements with respect to Yes subsidiary of listed entity 2F]NRZR)NWJHYTWXMNU 9JSZWJ Yes Meeting of independent directors Yes Familiarization of independent directors Yes Memberships in Committees Yes &KÁWRFYNTS\NYMHTRUQNFSHJYTHTIJTKHTSIZHYKWTRRJRGJWX Yes of Board of Directors and Senior management personnel )NXHQTXZWJTK8MFWJMTQINSLG^3TS*]JHZYN[J)NWJHYTWX Yes Policy with respect to Obligations of directors and senior Yes management Policy with respect to Obligation of Directors and senior Not Applicable management 4GQNLFYNTS\NYMWJXUJHYYT025X)NWJHYTWXFSI5WTRTYJWX Not Applicable 5ZWXZFSYYT7JLZQFYNTS TKYMJ8*'.14)77JLZQFYNTSXHJWYNÁHFYJXTSMFQK^JFWQ^GFXNXMF[JGJJSNXXZJIG^FVZFQNÁJI UWFHYNHNSL(TRUFS^8JHWJYFW^HTSÁWRNSLYMJHTRUQNFSHJTKXMFWJYWFSXKJWKTWRFQNYNJXG^YMJ(TRUFS^ &WJHTSHNQNFYNTSTKXMFWJHFUNYFQFZINYNXHTSIZHYJIG^FVZFQNÁJIUWFHYNHNSL(TRUFS^8JHWJYFW^TSFVZFWYJWQ^GFXNXHTSÁWRNSL YMFYYMJYTYFQNXXZJIUFNIZUJVZNY^XMFWJHFUNYFQTKYMJ(TRUFS^NXNSFLWJJRJSY\NYMYMJFLLWJLFYJTKYMJYTYFQSZRGJWTK shares in physical form and the total number of shares in dematerialised form. +0:*9,;065(9@+0:*36:<9,: The status of compliance with non-mandatory recommendations of the SEBI LODR Regulaions is as follows. a) Shareholders’ Rights:&XYMJVZFWYJWQ^FSIMFQK^JFWQ^ÁSFSHNFQWJXZQYXFWJUZGQNXMJINSYMJSJ\XUFUJWXFSIFWJFQXT UTXYJITSYMJ(TRUFS^¸X\JGXNYJYMJXFRJFWJSTYGJNSLXJSYXJUFWFYJQ^YTYMJXMFWJMTQIJWX I (\KP[8\HSPÂJH[PVUZ!9MJ(TRUFS^¸XÁSFSHNFQXYFYJRJSYXKTWYMJ^JFW ITSTYHTSYFNSFS^FZINYVZFQNÁHFYNTS c) Separate posts of Chairman and CEO: The positions of the Chairman and the CEO in the Company are separate. d) Reporting of Internal Auditor: The Internal Auditors of the Company directly report to the Audit Committee. 090 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18 REPORT ON CORPORATE GOVERNANCE Declaration by Managing Director & CEO .2TMNY2FQMTYWF2FSFLNSL)NWJHYTW (MNJK*]JHZYN[J4KÁHJWTK,TIWJO5WTUJWYNJX1NRNYJIMJWJG^HTSÁWRUZWXZFSYYT8*'. 1NXYNSL4GQNLFYNTSXFSI)NXHQTXZWJ7JVZNWJRJSYX7JLZQFYNTSX µ8*'.14)77JLZQFYNTSX¶YMFY The Board of Godrej Properties Limited has laid down a Code of Conduct for all Board members and senior management of the Company. The said code of conduct has also been posted on the Company’s website viz. www.godrejproperties.com. All YMJ'TFWIRJRGJWXFSIXJSNTWRFSFLJRJSYUJWXTSSJQMF[JFKÁWRJIYMJNWHTRUQNFSHJ\NYMYMJXFNI(TIJTK(TSIZHYKTWYMJ ÁSFSHNFQ^JFWJSIJI2FWHM Mohit Malhotra 4HUHNPUN+PYLJ[VY *OPLM,_LJ\[P]L6MÂJLY Place: Mumbai )FYJ 2F^ CERTIFICATE ON CORPORATE GOVERNANCE To The Members of Godrej Properties Limited 9MNXHJWYNÁHFYJNXNXXZJIXTQJQ^KTWYMJUZWUTXJXTKHTRUQ^NSL\NYM1NXYNSL7JLZQFYNTSXFSIRF^STYGJXZNYFGQJKTWFS^TYMJW purpose. -VY4LO[H 4LO[H Company Secretaries .(8.:SNVZJ(TIJ5 2- Dipti Mehta Partner +(83T (53T Place: Mumbai )FYJ 2F^ 091 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18 BUSINESS RESPONSIBILITY REPORT PHILANTHROPIC EFFORTS OF THE GODREJ who will become lifelong leaders working from within various GROUP sectors towards the pursuit of equity in education. In 2009, Teach for India began its journey in the classrooms with The Godrej Group has been at the forefront of philanthropic and 78 Fellows (or teachers) in 2 cities across 34 schools and social activities for several decades. Approximately Twenty- reached out to 3,000 children. The movement has grown in Three per cent of the promoter holding of the Godrej Group 2017-18 to cover 353 schools in 7 cities with approximately is held in trusts that invests back in initiatives that support the 1,100 fellows, positively impacting nearly 39,500 children. environment as well as improve the quality and availability of healthcare and education. Through investment and oversight GODREJ GOOD & GREEN by the trust, a large tract of mangrove forests in Mumbai have been protected, developed, and maintained for several years In conjunction with our vision of ‘Brighter Living’ for all and serve as a second set of lungs for the city. The Godrej stakeholders, we have developed a long-term vision for Group has continually supported education and supports the playing an active part in creating a more inclusive and Udayachal pre-primary and primary schools, which focus on greener India. This vision has been named ‘Godrej Good the all-round development of children. The Udayachal high & Green’, which is founded on shared value initiatives. The school has been accredited with the International School HTSHJUYTKXMFWJI[FQZJNXIJÁSJIFXUTQNHNJXFSITUJWFYNSL Award in recognition of the school incorporating global practices that enhance the competitiveness of a company education into its curriculum and innovation into classroom while simultaneously advancing the economic and social teaching. conditions in the communities in which it operates. As part of In addition, the Godrej Group has supported initiatives in this initiative, the Group aspires to create a more employable healthcare through the Godrej Memorial Hospital, which aims Indian workforce, a greener India and innovate for good and to provide quality healthcare at affordable costs. One such green products by 2020. initiative is our partnership with ‘Smile Train’, a US-based NGO, which helps in performing corrective cleft lip and palate 8UJHNÁHFQQ^ TZW ,WTZUQJ[JQ LTFQX KTW FX UFWY TK YMNX surgeries for children from low-income families. The Group vision are as follows: offers surgery and hospitalization to the patients free of cost. 9WFNSNSL RNQQNTS WZWFQ FSI ZWGFS ^TZYM NS XPNQQJI Workplace Giving employment In 2016, the Group revived its Workplace Giving programme, &HMNJ[NSL_JWT\FXYJYTQFSIÁQQHFWGTSSJZYWFQNY^FSIF \MNHMJSFGQJXTZWYJFRRJRGJWXYTITSFYJFXUJHNÁHFRTZSY UTXNYN[J\FYJWGFQFSHJFQTSL\NYMWJIZHNSLTZWXUJHNÁH J[JW^ RTSYM YT TZW STSUWTÁY UFWYSJWX 092 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18 BUSINESS RESPONSIBILITY REPORT to deliver high-impact programmes that are easy to scale organisation’s with which they work. up. Our skill-building initiatives are linked to the National Skill Development Mission. Furthermore, our community SECTION A: GENERAL INFORMATION ABOUT development initiatives in areas surrounding our construction THE COMPANY sites are focused on improving the teaching–learning 1. Corporate Identity Number (CIN) of the Company: environment. L74120MH1985PLC035308 We are associated with the Integrated Water Management Programme, under the Ministry of Rural Development, 2. Name of the Company: through our large-scale integrated watershed projects in Godrej Properties Limited drought-prone regions to restore the ecological balance by 3. Registered address: harnessing, conserving and developing degraded natural resources and thus providing sustainable livelihoods in the Godrej One, 5th Floor, Pirojshanagar, Eastern Express region. -NLM\F^;NPMWTQN *FXY2ZRGFN³ 4. Website: In line with the Swachh Bharat Mission, we have initiated several community waste management projects across India www.godrejproperties.com by involving colleges, local municipalities and societies in 5. E-mail id: different parts of the city. [email protected] In addition, we run an intensive community awareness and behavior change programme to combat malaria in regions 6. Financial Year reported: that are reported to have a high Annual Parasitic Index (API) 2017-18 through our Elimination of Mosquito Borne Endemic Diseases 7. Sector(s) that the Company is engaged in (industrial (EMBED) programme. The mainstay of this programme is activity code-wise): propagating clean surroundings. We are supporting renewable energy projects in rural India to Sl. Name and Description of NIC Code address the shortage of energy supply in line with the Deen No. main products / services of the Dayal Upadhyaya Gram Jyoti Yojana of the Government of Product/ India. service Our community projects are supplemented by Brighter 1. Construction and Real Estate 4100 Giving, a structured volunteering platform through which our Development team members can offer their time and skills to help address 8. List three key products/services that the Company an NGO’s needs. Through Brighter Giving, Godrejites can manufactures/provides (as in balance sheet): volunteer their time, knowledge and skills to help address Development of residential and commercial projects. YMJ XUJHNÁH SJJIX TK F STSUWTÁY TWLFSNXFYNTS TS F UWTOJHY basis. 9. Total number of locations where business activity is undertaken by the Company: Brighter Giving also serves as a channel through which our team members can connect with and learn more about Good (a) Number of International Locations (Provide & Green. The programme has a long-term goal, seeking to details of major 5): JSFGQJ FSI IWN[J RJFSNSLKZQ NSNYNFYN[JX KTW TZW STSUWTÁY Singapore UFWYSJWX FSITW YMJNW GJSJÁHNFWNJX ;TQZSYJJWX FHHTRUQNXM (b) Number of National Locations: this by using their professional skills and expertise to develop relevant,implementable, and sustainable solutions for the The company has business activity in over 12 domestic locations. 93 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18 10. Markets served by the Company – Local/State/ SECTION C: OTHER DETAILS National/International: 1. Does the Company have any Subsidiary Company/ National. Companies? Yes, the Company has 16 subsidiaries as on March 31, SECTION B: FINANCIAL DETAILS OF THE 2018. COMPANY 2. Do the Subsidiary Company/Companies participate 1. Paid up Capital (INR) in the Business Responsibility (BR) Initiatives of the ` 108.24 crore. parent company? If yes, then indicate the number of 2. Total Turnover (INR): ` 1449.44 crores such subsidiary company(s): ;V[HSWYVÂ[HM[LY[H_LZ059!` 240.85 crores GPL encourages subsidiaries to participate in Business Responsibility (BR) initiatives. The Business 4. Total Spending on Corporate Social Responsibility Responsibility policies of the subsidiaries are in line with *:9HZWLYJLU[HNLVMWYVÂ[HM[LY[H_ ! the local requirements. The Company has spent prescribed CSR expenditure 3. Do any other entity/entities (e.g. suppliers, ` amounting to 1.38 crore, being the 2% of the average distributors etc.) that the Company does business SJY UWTÁY TK YMJ (TRUFS^ KTW YMJ QFXY YMWJJ ^JFWX FX with, participate in the BR initiatives of the mandated in the Companies Act, 2013. Company? If yes, then indicate the percentage of 3PZ[VMHJ[P]P[PLZPU^OPJOL_WLUKP[\YLPUHIV]LOHZ Z\JOLU[P[`LU[P[PLZ&B3LZZ[OHU 4VYL been incurred:- [OHU D The expenditure has been incurred, inter-alia, in the No. following areas - SECTION D: BR INFORMATION (a) Nipun skill enhancement training. 1. Details of Director/Directors responsible for BR (b) Disaster relief-Sustainable Environment & Ecological Development Society (SEEDS). (a) Details of the Director/Directors responsible for implementation of the BR policy/policies (c) Donation towards Wildlife Conservation. 1. DIN Number (d) Integrated Watershed Management project. 2. Name (e) Organic soil carbon- improvement in soil quality. 3. Designation (f) Neighbourhood waste management project. No director has yet been nominated. (g) Waste to fuel project. (b) Details of the BR head No director has yet been nominated as BR Head. The Board constituted a Corporate Social Responsibility (CSR) Committee comprising Mr. Pirojsha Godrej, Mr. Mohit Malhotra and Mr. Amit Choudhury as members. Mr. Anubhav Gupta and Ms. Ruhi Pande are steering the social responsibility initiatives. 94 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18 BUSINESS RESPONSIBILITY REPORT 2. Principle-wise (as per NVGs) BR Policy/policies (a) Details of compliance (Reply in Y/N) No. Questions P1 P2 P3 P4 P5 P6 P7 P8 P9 Business Ethics Sustainability Employees’ well-being Stakeholders’ Welfare Human Rights Environment Regulatory Policy Equitable Development Customer Responsibility 1 Do you have a policy/ policies for.... YYYYYYYYY 2 Has the policy being formulated in The Company has formulated the policies and adopted consultation with the relevant stakeholders? best practices in its own volition. However, while formulating the policies and adopting the same, the Company has been sensitive to the stakeholders interest. 3 Does the policy conform to any national / The company policies are aligned with Godrej Group international standards? If yes, specify? policies incorporating the global best practices. 4 Has the policy being approved by the Board? Since all the policies are not required to be approved by the Board, the approval of the Board has been obtained Is yes, has it been signed by MD/ owner/ where it is mandatory. CEO/ appropriate Board Director? 5 +VLZ [OL JVTWHU` OH]L H ZWLJPÂLK YYYYYYYYY JVTTP[[LLVM[OL)VHYK+PYLJ[VY6MÂJPHS[V oversee the implementation of the policy? 6 Indicate the link for the policy to be viewed http://www.godrejproperties.com/investor/ online? corporategovernance (for Code of Conduct; Whistle Blower Policy; Corporate Social Responsibility Policy; Related Party Transactions Policy; Material Subsidiary Policy; Policy on determining materiality of event.) 7 Has the policy been formally communicated Internal stakeholders are made aware of the policies. [V HSS YLSL]HU[ PU[LYUHS HUK L_[LYUHS External stakeholders are communicated to the extent stakeholders? applicable. 8 Does the company have in-house structure YYYYYYYYY to implement the policy/ policies? 9 Does the Company have a grievance YYYYYYYYY redressal mechanism related to the policy/ policies to address stakeholders’ grievances related to the policy/ policies? 10 Has the company carried out independent YYYYYYYYY audit/ evaluation of the working of this policy I`HUPU[LYUHSVYL_[LYUHSHNLUJ`& 95 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18 I 0MHUZ^LY[V[OLX\LZ[PVUH[ZLYPHSU\TILYHNHPUZ[HU`WYPUJPWSLPZ¹5VºWSLHZLL_WSHPU^O`!;PJR\W[V options) Not Applicable. No. Questions P1 P2 P3 P4 P5 P6 P7 P8 P9 1 The company has not understood the Principles 2 9MJHTRUFS^NXSTYFYFXYFLJ\MJWJNYÁSIXNYXJQKNSF position to formulate and implement the policies on XUJHNÁJIUWNSHNUQJX 3 9MJ HTRUFS^ ITJX STY MF[J ÁSFSHNFQ TW RFSUT\JW resources available for the task 4 It is planned to be done within next 6 months 5 It is planned to be done within the next 1 year 6 Any other reason (please specify) 3. Governance related to BR 2. How many stakeholder complaints have been YLJLP]LK PU [OL WHZ[ ÂUHUJPHS `LHY HUK ^OH[ (a) Indicate the frequency with which the Board of percentage was satisfactorily resolved by the Directors, Committee of the Board or CEO to management? If so, provide details thereof, in about assess the BR performance of the Company. 50 words or so. Within 3 months, 3-6 months, Annually, More than 1 year: During the year no complaints were received from any of the stakeholders. The Board of Directors of the company assesses various initiatives forming part of the BR Principle 2 : Businesses should provide goods performance of the company at least once a year. and services that are safe and contribute to sustainability throughout their life cycle (b) Does the Company publish a BR or a Sustainability Report? What is the hyperlink Godrej Group’s Good & Green vision supports the for viewing this report? How frequently it is development of products that are environmentally sustainable. published? As part of the vision, the Company aspires to develop products that consumes fewer resources (energy and water), emit The Company publishes the information on BR in fewer greenhouse gases and include recyclables, renewables the Annual Report of the Company. The hyperlink to and/or natural materials. view the Annual Report is: www.godrejproperties.com 1. List up to 3 of your products or services whose SECTION E: PRINCIPLE-WISE PERFORMANCE design has incorporated social or environmental concerns, risks and/or opportunities. Principle 1 : Businesses should conduct and govern themselves with ethics, transparency and (a) Residential accountability (b) Commercial 1. Does the policy relating to ethics, bribery and (c) Townships corruption cover only the company? Yes/No. 2. For each such product, provide the following details +VLZ P[ L_[LUK [V [OL .YV\W1VPU[ =LU[\YLZ in respect of resource use (energy, water, raw Suppliers/Contractors /NGOs/ Others? material etc.) per unit of product (optional): The code applies to every employee of the company and (a) Reduction during sourcing/production/ the endeavor is to extend this code to all its suppliers, distribution achieved since the previous year contractors and business partners. throughout the value chain? 96 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18 BUSINESS RESPONSIBILITY REPORT We ensure that the majority of the materials used - Construction waste segregated based on their across all our projects are sourced locally within ZYNQNY^ FSI WJZXJI TS XNYJ KTW GFHPÁQQNSL TW QJ[JQNSL range of 400-500 kms from project site. Along with purpose the local sourcing, 95% of our construction waste is - Construction waste not being reused on site is sent reused or send to recycling agencies ensuring we for recycling by appropriate agencies FWJIN[JWYNSLYMJXFRJKWTRQFSIÁQQ - Treating >10% of organic waste during operation (b) Reduction during usage by consumers (energy, (100% Organic Waste treated on site) water) has been achieved since the previous year? Principle 3 : Businesses should promote the wellbeing of all employees )ZJ YT QT\ ÂT\ UQZRGNSL Á]YZWJX 7FNS 5. Does the Company have a mechanism to recycle &YYMJXTZWHNSLXYFLJ\JJSXZWJYMFYIN[JWXNY^UWTÁQJXFWJ products and waste? If yes, what is the percentage forming part of talent pool being assessed for any role, of recycling of products and waste (separately as merit being the sole criterion for selection. We are driving # % (SZVWYV]PKLKL[HPSZ[OLYLVMPU our efforts to make all our workplaces and functions about 50 words or so conducive for women. 97 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18 ) 7YL]LU[PVUVMZL_\HSOHYHZZTLU[! Progressive Human Resource Policies: We are committed to creating and maintaining an GPL prides itself as a great place to work, a fact atmosphere in which our team members can work recognised and acknowledged externally as well. together, without fear of sexual harassment, exploitation -7 UTQNHNJX QNPJ ÂJ]NGQJ \TWP MTZWX \TWP KWTR MTRJ or intimidation. We have ensured compliance with the arrangements, part-time work, to name a few, go a long Sexual Harassment of Women at Workplace (Prevention, way in ensuring that our team members successfully Prohibition and Redressal) Act, 2013 (the “Act”). We strike a work-life balance. have constituted an Internal Complaints Committee in accordance with the Act and updated the group’s policy to ensure that women are protected against sexual harassment at the workplace. Every team member is made aware that the Godrej Group is strongly opposed to sexual harassment and that such behaviour is prohibited both by law and the Group policy. We take all necessary action(s) required to prevent and correct behaviour that violates this policy. C. Safety and Health: We remain committed to protecting and building a safe and healthy workplace. GPL is committed to building and maintaining a safe and healthy workplace and provides a safe and healthy ( 4H[LYUP[`HUK7H[LYUP[`3LH]LHUK)LULÂ[Z7VSPJ`! working environment, equipment and systems of work for We are one of the leading companies in India to provide all team members. The company provides the information, FKZQQ^UFNIXN]RTSYMXRFYJWSNY^QJF[JFSIGJSJÁYXFSI training and supervision needed for this purpose. FÂJ]NGQJ\TWPFWWFSLJRJSYKTWFRF]NRZRIZWFYNTSTK Furthermore, we are committed to the health and well- months, from the date one resumes work. We also have being of our team members and have an onsite medical YMWJJRTSYMXFITUYNTSQJF[JFSIGJSJÁYXFSIUFYJWSNY^ centre, hospital and children’s day care facility within the QJF[JFSIGJSJÁYXTUYNTSX ,TIWJO;NPMWTQNHFRUZX B. Late Night Cab Facility and Ola for Business: Womens Area The safety and well-being of all Godrejites is something A women’s area has been designed for Godrej group we care deeply about. We have a late night cab facility women employees as a resting and nursing space for our Mumbai based team members for their safe travel especially for expecting mothers, new mothers and KWTR\TWPYTMTRJ\MJS\TWPNSLQFYJNSYMJTKÁHJ women with special needs. However, other women may The Company further provides Ola for Business service, also use this space if needed. which can be availed by employees travelling for Some of the facilities provided are: Company related work. 1. Three resting rooms with mini fridge inside C. Careers 2.0 Programme: 2. Lounge seating with magazines and newspapers A recent initiative from the Godrej Group is the Career 3. Tea/Coffee station available throughout the day 2.0 programme, which provides a transition platform for women professionals who have taken a career break but during operational hours now wish to return to work. The objective of this initiative 4. First aid and essential medicines is to tap the leaking talent pipeline of high potential 98 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18 BUSINESS RESPONSIBILITY REPORT performers & facilitate their re-entry into the corporate 8. What percentage of your under mentioned world. The participants are offered attractive project employees were given safety & skill up- XYNUJSIXYT\TWPTSQN[JGZXNSJXXUWTOJHYXTSFÂJ]NUFWY gradation training in the last year? time basis. 5JWRFSJSY*RUQT^JJX³ D. Sustenance Allowance Policy: 5JWRFSJSY 99 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18 Employees celebrated and participated in events at the labor camps at Ahmedabad region. 200 children from the age group of 2 to 12 years were involved in celebrating Christmas. A career counseling session was organized for children from multiple NGOs to expose them to the workings of organizations such as Godrej and hence incentivize education. This was followed by an educational trip to the mangroves. More information on our Good & Green goals and programs Principle 5 : Businesses should respect and can be found at: http://www.godrejgoodandgreen.com. promote human rights 2. Does the Company have strategies/ initiatives 1. Does the policy of the Company on human rights to address global environmental issues such as climate change, global warming, etc? Y/N. If yes, JV]LYVUS`[OL*VTWHU`VYL_[LUK[V[OL.YV\W1VPU[ please give hyperlink for webpage etc. Ventures/Suppliers/Contractors/NGOs/ Other? Godrej Properties Ltd. is committed to ensuring The Company has a policy that is applicable to all our environmental responsibility within our business. In team members in the Company. For its subsidiaries and YMJ UWJ[NTZX ÁSFSHNFQ ^JFWX \J MF[J J]YJSIJI TZW joint ventures, the policy is applicable in line with the local commitment to sustainability across all domains of our requirements prevailing in the area of operation. The business. In order to meet the Godrej group’s 2020 Good Company encourages its Business Partners to follow & Green goals, the company has set up environmental the policy. monitoring & reporting systems using the Global 2. How many stakeholder complaints have been Reporting Initiative Generation 4 (GRI Generation YLJLP]LKPU[OLWHZ[ÂUHUJPHS`LHYHUK^OH[WLYJLU[ KWFRJ\TWP ,7. NX F STSÁSFSHNFQ INXHQTXZWJ TK was satisfactorily resolved by the management? performance indicators that cover Social, Environmental & Economic aspects. This assessment has ensured a During the year under review, no complaints were continuous integration of sustainable practices across received from any stakeholder. operations at GPL. We have base-lined our consumption Nil UFYYJWSXFSIFWJST\FGQJYTRTSNYTWFSIFHHJXXJKÁHNJSH^ in operational practices, processes, technologies Principle 6 : Business should respect, protect, and materials and understand our environmental and make efforts to restore the environment footprints. We have initiated cross functional learnings and 1. Does the policy related to Principle 6 cover only the best practices as well as mitigation and offset projects to JVTWHU` VY L_[LUKZ [V [OL .YV\W1VPU[ =LU[\YLZ reduce our environmental footprints. Suppliers/Contractors/NGOs/Others. We have initiated projects to offset the environmental Godrej Properties Ltd., as part of the larger GILAC footprints due to our operations. We are in the process LWTZUMFXHTRRNYYJIYTJSXZWNSLXUJHNÁHJS[NWTSRJSYFQ of developing an Integrated Watershed Development in goals by 2020 under the group wide policy of ‘Good & the Beed district of Maharashtra that will offset out water Green’. ‘Green’ relates to the natural environment and footprint by 2020. As part of the Beed watershed, we the business’s role in preserving & protecting the same have planted 2 Lac saplings of native, fruiting species and extends to group companies, suppliers, vendors that will not only mitigate a large part of our operational and contractors and Green program partners. carbon footprint but also act as a secondary income for the farmers. This plantation along with the watershed project is registered under the international carbon KWFRJ\TWPTKYMJ;JWNÁJI(FWGTS8YFSIFWI ;(8 100 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18 BUSINESS RESPONSIBILITY REPORT 3. Does the Company identify and assess potential environmental risks? Y/N - Environmental Impact Assessment is carried out for large projects which can have a major impact on the surrounding environment - Strategies to minimize or negate the impact are \TWPJITZYKTWJ[JW^XUJHNÁHUWTOJHY - Soil Erosion control measures to avoid any contamination of the site and/or surrounding areas Beed Watershed Development: Beginning of Project: - Retaining at least 15-20% of the natural topography, March 2016 ensures minimum impact to environment - Developing over virgin ground creates issues for water percolation into the ground. This is taken care of by taking proper measures for rainwater harvesting and recharge. 4. Does the Company have any project related to Clean Development Mechanism? If so, provide details thereof, in about 50 words or so. Also, if Yes, whether any environmental compliance report is ÂSLK& - Godrej One and Godrej BKC both use Solar 5; 5FSJQX YT LJSJWFYJ F UFWY TK YMJNW JQJHYWNHNY^ requirement on-site 5. Has the Company undertaken any other initiatives Beed Watershed Development: September 2017 VUµJSLHU[LJOUVSVN`LULYN`LMÂJPLUJ`YLUL^HISL We have set up waste-to-fuel facilities within Mumbai to energy, etc. Y/N. If yes, please give hyperlink for WJIZHJ YMJ MTWYNHZQYZWJ \FXYJ YT QFSIÁQQ FSI UWTIZHJ F web page etc. sustainable and alternate fuel source for industries. ,TIWJO 5WFSF 5ZSJ :XJX 8TQFW 5; 5FSJQX YT accommodate the Lighting and Switch Load KTW YMJ RFWPJYNSL TKÁHJX XFQJX TKÁHJ XFRUQJ FUFWYRJSYUWTOJHYTKÁHJFSIZXJXLWNIUT\JWKTW&NW Conditioning load ,TIWJO '0( 2ZRGFN :XNSL YMJ MNLMJXY JKÁHNJSH^ solar panels currently available in the market to generate 1% of the building’s entire connected load *SJWL^ *KÁHNJSH^ :XJ TK FYQJFXY '** XYFW WFYJI JVZNURJSY ZXJ TK MNLMQ^ JKÁHNJSY LQF_NSL YT decrease the load on air conditioning are standard practice for all major projects Horticulture Waste to Fuel: February 2018 6. Are the Emissions/Waste generated by the Company within the permissible limits given by CPCB/SPCB More information on our Good & Green MVY[OLÂUHUJPHS`LHYILPUNYLWVY[LK& goals and programs can be found at: - Not Applicable - http://www.godrejgoodandgreen.com/ 101 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18 7. Number of show cause/ legal notices received from to increase employability and hence employment of CPCB/SPCB which are pending (i.e. not resolved to the youth. In pursuance of Godrej’s social responsibility satisfaction) as on end of Financial Year. commitments, GPL runs Nipun, a program developed to train and upskill blue collar workers in construction - Not Applicable - and allied trades. In FY 2017-18, we’ve enabled training Principle 7 Businesses, when engaged in FSIHJWYNÁHFYNTSTKRTWJYMFSYJSYMTZXFSIGJSJÁHNFWNJX PUÃ\LUJPUNW\ISPJHUKYLN\SH[VY`WVSPJ`ZOV\SK in skills such as Bar-bending, Masonry & Plastering, do so in a responsible manner Painting, Shuttering Carpentry, Tiling and Housekeeping. These trainings are conducted in various states across the 1. Is your Company a member of any trade and country including Delhi, Gujarat, Maharashtra, Karnataka, chamber or association? If Yes, Name only those West Bengal, Jharkhand and Bihar. major ones that your business deals with: The CSR & social initiatives have been recognised by GPL ensures that its policy consists of the highest degree Stanford Social Innovation Review: https://ssir.org/ of responsible and ethical behaviour and works with articles/entry/new_frontiers_in_indian_corporate_social_ collective platforms such as trade and industry chambers responsibility?platform=hootsuite and associations to raise matters with the relevant government bodies. GPL is a member of CII, FICCI and We are in the process of developing an Integrated other trade associations. Watershed Development in the Beed district of Maharashtra. This project has completed 2 years of 2. Have you advocated/lobbied through above development and has already brought much relief associations for the advancement or improvement to the area where the farmers have been able to take of public good? Yes/No; two crops in the last harvest season. The watershed 0M`LZZWLJPM`[OLIYVHKHYLHZKYVWIV_!.V]LYUHUJL has acted as a second source of income to farmers and Administration, Economic Reforms, Inclusive lessening the number of farmers migrating to cities for Development Policies, Energy Security, Water, Food work. As part of the Beed watershed, we have planted Security, Sustainable Business Principles, Others) 2 Lac saplings of native, fruiting species that will act as a secondary income for the farmers. This plantation GPL has representation through CII and other trade along with the watershed project is registered under the associations for advancement/improvement of public NSYJWSFYNTSFQ HFWGTS KWFRJ\TWP TK YMJ ;JWNÁJI (FWGTS good. 8YFSIFWI ;(8 Principle 8: Businesses should support inclusive 2. Are the programmes/projects undertaken through growth and equitable development PUOV\ZL [LHTV^U MV\UKH[PVUL_[LYUHS 5.6 Our Good & Green vision inspires each one of us at Godrej government structures/any other organization? to continue to work towards building a brighter, greener and The programs are delivered by NGOs and trainings more inclusive India. As part of our employability programmes, partners and are managed by our in-house team. we have trained over 130,000 young people from low-income groups in skills that will enhance their earning potential. 3. Have you done any impact assessment of your initiative? As part of our Greener India programme, we have implemented a number of environmental projects which Yes. We have conducted a third party impact not only help us to mitigate our environmental footprints assessment of Nipun. The carbon interventions at the but also to create healthier and more sustainable habitats. Beed watershed are registered under the international >TZ HFS ÁSI RTWJ IJYFNQX FGTZY TZW UWTLWFRRJX FY www. HFWGTSKWFRJ\TWPTKYMJ;JWNÁJI(FWGTS8YFSIFWI ;(8 godrejgoodandgreen.com 4. What is your Company’s direct contribution to +VLZ [OL JVTWHU` OH]L ZWLJPÂLK WYVNYHTTLZ community development projects- Amount in INR initiatives/projects in pursuit of the policy related to and the details of the projects undertaken. Principle 8? If yes, details thereof. Our community includes the workmen at our sites for Godrej recognizes and encourages the skill whom we conduct regular skill trainings under Nipun. development initiatives championed by the government More information on Nipun is given under section 8.1. 102 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18 BUSINESS RESPONSIBILITY REPORT 5. Have you taken steps to ensure that this community 0Z[OLYLHU`JHZLÂSLKI`HU`Z[HRLOVSKLYHNHPUZ[ development initiative is successfully adopted by the Company regarding unfair trade practices, [OLJVTT\UP[`&7SLHZLL_WSHPUPU ^VYKZVYZV irresponsible advertising and/or anti-competitive Not Applicable ILOH]PV\Y K\YPUN [OL SHZ[ Â]L `LHYZ HUK WLUKPUN HZ VU LUK VM ÂUHUJPHS `LHY 0M ZV WYV]PKL KL[HPSZ Principle 9 Businesses should engage with and thereof, in about 50 words or so. provide value to their customers and consumers in a responsible matter No 1. What percentage of customer complaints/consumer 4. Did your Company carry out any consumer survey/ JHZLZHYLWLUKPUNHZVU[OLLUKVMÂUHUJPHS`LHY consumer satisfaction trends? Nil Yes 2. Does the Company display product information on the product label, over and above what is mandated as per local laws? Yes/No/N.A. /Remarks(additional information) Not applicable 103 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18 GODREJ PROPERTIES LIMITED FINANCIALS 104 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18 .3)*5*3)*39&:).947¸87*5479 TO THE MEMBERS OF GODREJ PROPERTIES LIMITED 9LWVY[VU[OLH\KP[VM[OLZ[HUKHSVUL0UK(:ÂUHUJPHSZ[H[LTLU[Z Other Matters 9MJHTRUFWFYN[JÁSFSHNFQXYFYJRJSYXTKYMJ(TRUFS^FXFYFSIKTWYMJ^JFWJSIJI2FWHM NSHQZIJINSYMJXJXYFSIFQTSJ .SI&8ÁSFSHNFQXYFYJRJSYXFWJGFXJITSYMJUWJ[NTZXQ^NXXZJIXYFSIFQTSJ.SI&8ÁSFSHNFQXYFYJRJSYXUWJUFWJINSFHHTWIFSHJ \NYMYMJ.SINFS&HHTZSYNSL8YFSIFWIX .SI&8UWJXHWNGJIZSIJW8JHYNTSTKYMJ&HYFSIFZINYJIG^0FQ^FSN\FQQF 2NXYW^ 115\MTXJWJUTWYIFYJI2F^ J]UWJXXJIFSZSRTINÁJITUNSNTSTSYMTXJXYFSIFQTSJ.SI&8ÁSFSHNFQXYFYJRJSYXFX FIOZXYJIYTLN[JJKKJHYYTYMJFRFQLFRFYNTSTK,TIWJO;NPMWTQN5WTUJWYNJX.SINF1NRNYJI ·,;5.1¸FSI,TIWJO7JFQ*XYFYJ5WN[FYJ 1NRNYJI ·,7*51¸\NYMYMJ(TRUFS^UZWXZFSYYTYMJTWIJWXTK3(19IFYJI3T[JRGJW FSI&UWNQ WJXUJHYN[JQ^ FSIRFIJJKKJHYN[JKWTRYMJFUUTNSYJIIFYJTK&UWNQ 4ZWTUNSNTSNXSTYRTINÁJINSWJXUJHYTKYMNXRFYYJW 9LWVY[VUV[OLYSLNHSHUKYLN\SH[VY`YLX\PYLTLU[Z &XWJVZNWJIG^YMJ(TRUFSNJX &ZINYTW¸X7JUTWY4WIJW ·YMJ4WIJW·NXXZJIG^YMJ(JSYWFQ,T[JWSRJSYTK.SINFNS YJWRXTK8JHYNTS TKYMJ&HY\JLN[JNSYMJµ&SSJ]ZWJ&¶FXYFYJRJSYTSYMJRFYYJWXXUJHNÁJINSUFWFLWFUMXFSI TKYMJXFNI4WIJW &XWJVZNWJIG^8JHYNTS TKYMJ&HY\JWJUTWYYMFY F \JMF[JXTZLMYFSITGYFNSJIFQQYMJNSKTWRFYNTSFSIJ]UQFSFYNTSX\MNHMYTYMJGJXYTKTZWPST\QJILJFSIGJQNJK\JWJ SJHJXXFW^KTWYMJUZWUTXJXTKTZWFZINY G NSTZWTUNSNTSUWTUJWGTTPXTKFHHTZSYFXWJVZNWJIG^QF\MF[JGJJSPJUYG^YMJ(TRUFS^XTKFWFXNYFUUJFWXKWTR TZWJ]FRNSFYNTSTKYMTXJGTTPX H YMJXYFSIFQTSJGFQFSHJXMJJYYMJXYFSIFQTSJXYFYJRJSYTKUWTÁYFSIQTXX NSHQZINSLTYMJWHTRUWJMJSXN[JNSHTRJYMJ XYFSIFQTSJXYFYJRJSYTKHFXMÂT\XFSIYMJXYFSIFQTSJXYFYJRJSYTKHMFSLJXNSJVZNY^IJFQY\NYMG^YMNXWJUTWYFWJNS FLWJJRJSY\NYMYMJGTTPXTKFHHTZSY I NSTZWTUNSNTSYMJFKTWJXFNIXYFSIFQTSJ.SI&8ÁSFSHNFQXYFYJRJSYXHTRUQ^\NYMYMJ.SINFS&HHTZSYNSL8YFSIFWIX UWJXHWNGJIZSIJW8JHYNTSTKYMJ&HY J TSYMJGFXNXTK\WNYYJSWJUWJXJSYFYNTSXWJHJN[JIKWTRYMJINWJHYTWXFXTS2FWHM FSIYFPJSTSWJHTWIG^YMJ 'TFWITK)NWJHYTWXSTSJTKYMJINWJHYTWXFWJINXVZFQNÁJIFXTS2FWHM KWTRGJNSLFUUTNSYJIFXFINWJHYTWNS YJWRXTK8JHYNTS TKYMJ&HY K \NYMWJXUJHYYTYMJFIJVZFH^TKYMJNSYJWSFQÁSFSHNFQHTSYWTQXT[JWÁSFSHNFQWJUTWYNSLTKYMJ(TRUFS^FSIYMJTUJWFYNSL JKKJHYN[JSJXXTKXZHMHTSYWTQXWJKJWYTTZWXJUFWFYJWJUTWYNSµ&SSJ]ZWJ'¶ FSI L \NYMWJXUJHYYTYMJTYMJWRFYYJWXYTGJNSHQZIJINSYMJ&ZINYTWX¸7JUTWYNSFHHTWIFSHJ\NYM7ZQJTKYMJ(TRUFSNJX &ZINYFSI&ZINYTWX7ZQJXNSTZWTUNSNTSFSIYTYMJGJXYTKTZWNSKTWRFYNTSFSIFHHTWINSLYTYMJJ]UQFSFYNTSX LN[JSYTZX N YMJ(TRUFS^MFXINXHQTXJIYMJNRUFHYTKUJSINSLQNYNLFYNTSXTSNYXÁSFSHNFQUTXNYNTSNSNYXXYFSIFQTSJ.SI&8 ÁSFSHNFQXYFYJRJSYX³7JKJW3TYJYTYMJXYFSIFQTSJ.SI&8ÁSFSHNFQXYFYJRJSYX NN YMJ(TRUFS^MFXRFIJUWT[NXNTSXFXWJVZNWJIZSIJWYMJFUUQNHFGQJQF\TWFHHTZSYNSLXYFSIFWIXKTWRFYJWNFQ KTWJXJJFGQJQTXXJXTSQTSLYJWRHTSYWFHYX7JKJW3TYJYTYMJXYFSIFQTSJ.SI&8ÁSFSHNFQXYFYJRJSYX9MJ (TRUFS^INISTYMF[JFS^IJWN[FYN[JHTSYWFHYXIZWNSLYMJ^JFW NNN YMJWJ\JWJSTFRTZSYX\MNHM\JWJWJVZNWJIYTGJYWFSXKJWWJIYTYMJ.S[JXYTW*IZHFYNTSFSI5WTYJHYNTS+ZSIG^ YMJ(TRUFS^ FSI N[ YMJINXHQTXZWJXNSYMJXYFSIFQTSJ.SI&8ÁSFSHNFQXYFYJRJSYXWJLFWINSLMTQINSLXFX\JQQFXIJFQNSLXNS8UJHNÁJI 'FSP3TYJXIZWNSLYMJUJWNTIKWTR 3T[JRGJWYT)JHJRGJWMF[JSTYGJJSRFIJXNSHJYMJ^IT STYUJWYFNSYTYMJÁSFSHNFQ^JFWJSIJI2FWHM -T\J[JWFRTZSYXFXFUUJFWNSLNSYMJFZINYJIXYFSIFQTSJ .SI&8ÁSFSHNFQXYFYJRJSYXKTWYMJUJWNTIJSIJI2FWHM MF[JGJJSINXHQTXJI For B S R & Co. LLP Chartered Accountants Firm’s Registration No : 101248W/W-100022 (UPY\KKOH.VKIVSL 2ZRGFN Partner 2F^ Membership No: 105149 106 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18 &33*=:7*&949-*.3)*5*3)*39&:).9478¸7*5479³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¸ 8YFYJ .SXZWFSHJ .SHTRJYF] 8JW[NHJ YF] 8FQJX YF] ;FQZJ FIIJI YF] ,TTIX FSI 8JW[NHJ YF] 5WTKJXXNTSFQYF](JXXFSITYMJWRFYJWNFQXYFYZYTW^IZJX\JWJNSFWWJFWXFXFY2FWHM KTWFUJWNTITKRTWJYMFS XN]RTSYMXKWTRYMJIFYJYMJ^GJHFRJUF^FGQJ G &HHTWINSLYTYMJNSKTWRFYNTSFSIJ]UQFSFYNTSXLN[JSYTZXYMJWJFWJSTIZJXTK8FQJXYF]FSI,TTIXFSI8JW[NHJ YF]\MNHMMF[JSTYGJJSIJUTXNYJI\NYMYMJFUUWTUWNFYJFZYMTWNYNJXTSFHHTZSYTKFS^INXUZYJ&HHTWINSLYTYMJ NSKTWRFYNTSFSIJ]UQFSFYNTSXLN[JSYTZXYMJKTQQT\NSLIZJXTK.SHTRJYF]8JW[NHJYF]*SYW^YF]FSI;FQZJFIIJIYF] MF[JSTYGJJSIJUTXNYJIFXTS2FWHM G^YMJ(TRUFS^TSFHHTZSYTKINXUZYJX 5HTLVM[OLZ[H[\[L Nature of the (TV\U[UV[ -PUHUJPHS`LHY -VY\T^OLYLKPZW\[LPZ dues deposited on -@[V^OPJO[OL HJJV\U[VM HTV\U[YLSH[LZ KLTHUK Rupee in Crores* 2;&9&HY *SYW^9F] 9MJ/TNSY(TRRNXXNTSJWTK 2;&9 &UUJFQ2ZRGFN 2;&9&HY ;FQZJ&IIJI9F] 9MJ/TNSY(TRRNXXNTSJW TK8FQJX9F] &UUJFQX; 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LLP Chartered Accountants Firm’s Registration No : 101248W/W-100022 (UPY\KKOH.VKIVSL 2ZRGFN Partner 2F^ Membership No: 105149 109 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18 GODREJ PROPERTIES LIMITED &33*=:7*'949-*.3)*5*3)*39&:).9478¸7*5479³2&7(- 7JKJWWJIYTNSTZWWJUTWYTKJ[JSIFYJ 9LWVY[VU[OL0U[LYUHS-PUHUJPHS*VU[YVSZ\UKLY*SH\ZLPVM:\IZLJ[PVUVM:LJ[PVUVM[OL*VTWHUPLZ(J[ ·[OL(J[¸ 110 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18 0UOLYLU[3PTP[H[PVUZVM0U[LYUHS-PUHUJPHS*VU[YVSZ6]LY-PUHUJPHS9LWVY[PUN 'JHFZXJTKYMJNSMJWJSYQNRNYFYNTSXTKNSYJWSFQÁSFSHNFQHTSYWTQXT[JWÁSFSHNFQWJUTWYNSLNSHQZINSLYMJUTXXNGNQNY^TKHTQQZXNTSTW NRUWTUJWRFSFLJRJSYT[JWWNIJTKHTSYWTQXRFYJWNFQRNXXYFYJRJSYXIZJYTJWWTWTWKWFZIRF^THHZWFSISTYGJIJYJHYJI&QXT UWTOJHYNTSXTKFS^J[FQZFYNTSTKYMJNSYJWSFQÁSFSHNFQHTSYWTQXT[JWÁSFSHNFQWJUTWYNSLYTKZYZWJUJWNTIXFWJXZGOJHYYTYMJWNXP YMFYYMJNSYJWSFQÁSFSHNFQHTSYWTQT[JWÁSFSHNFQWJUTWYNSLRF^GJHTRJNSFIJVZFYJGJHFZXJTKHMFSLJXNSHTSINYNTSXTWYMFYYMJ IJLWJJTKHTRUQNFSHJ\NYMYMJUTQNHNJXTWUWTHJIZWJXRF^IJYJWNTWFYJ Opinion .STZWTUNSNTSYMJ(TRUFS^MFXNSFQQRFYJWNFQWJXUJHYXFSFIJVZFYJNSYJWSFQÁSFSHNFQHTSYWTQXX^XYJRT[JWÁSFSHNFQWJUTWYNSL FSIXZHMNSYJWSFQÁSFSHNFQHTSYWTQXT[JWÁSFSHNFQWJUTWYNSL\JWJTUJWFYNSLJKKJHYN[JQ^FXFY2FWHM GFXJITSYMJNSYJWSFQ HTSYWTQT[JWÁSFSHNFQWJUTWYNSLHWNYJWNFJXYFGQNXMJIG^YMJ(TRUFS^HTSXNIJWNSLYMJJXXJSYNFQHTRUTSJSYXTKNSYJWSFQHTSYWTQ XYFYJINSYMJ,ZNIFSHJ3TYJTS&ZINYTK.SYJWSFQ+NSFSHNFQ(TSYWTQX4[JW+NSFSHNFQ7JUTWYNSLNXXZJIG^YMJ.SXYNYZYJTK(MFWYJWJI &HHTZSYFSYXTK.SINF For B S R & Co. 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LLP .VKYLQ7YVWLY[PLZ3PTP[LK Chartered Accountants PIROJSHA GODREJ MOHIT MALHOTRA +NWR¸X7JLNXYWFYNTS3T << Executive Chairman Managing Director & CEO ).3 ).3 ANIRUDDHA GODBOLE SURENDER VARMA RAJENDRA KHETAWAT 5FWYSJW (TRUFS^8JHWJYFW^ (MNJK+NSFSHNFQ4KÁHJW 2JRGJWXMNU3T .(8.2JRGJWXMNU3T & 2ZRGFN 2ZRGFN 2F^ 2F^ 113 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18 GODREJ PROPERTIES LIMITED 89&3)&143*89&9*2*394+(-&3,*8.3*6:.9>+479-*>*&7*3)*)2&7(- (ZWWJSH^NS.37(WTWJ H ,X\P[`:OHYL*HWP[HS 7HY[PJ\SHYZ As At As At 4HYJO 2FWHM 'FQFSHJFYYMJGJLNSSNSLTKYMJ^JFW (MFSLJXNSJVZNY^XMFWJHFUNYFQIZWNSLYMJ^JFW 'FQFSHJFYYMJJSITKYMJ^JFW I 6[OLY,X\P[` 9LZLY]LZHUK:\YWS\Z Capital ,TWSV`LL +LILU[\YL 7HY[PJ\SHYZ Capital 9LZLY]LVU :LJ\YP[PLZ :[VJR.YHU[ General Retained ;YLHZ\Y` Total 9LKLTW[PVU 9LZLY]L (JJV\U[VM 7YLTP\T :JOLTL 9LZLY]L Earnings Shares 9LZLY]L (THSNHTH[PVU 9LZLY]L )HSHUJLHZH[(WYPS ;V[HS*VTWYLOLUZP]L0UJVTL! 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N :OHYLOVSKLYZOVSKPUNTVYL[OHU ZOHYLZPU[OL*VTWHU`! 4HYJO 2FWHM No. of 3TTK Shares 8MFWJX ,X\P[`ZOHYLZ ,TIWJO.SIZXYWNJX1NRNYJI O ,X\P[`:OHYLZHSSV[[LKHZM\SS`WHPK\W^P[OV\[WH`TLU[ILPUNYLJLP]LKPUJHZO 2FWHM 3TTK .37 8MFWJX .S(WTWJ ,X\P[`:OHYLZ! ,TIWJO.SIZXYWNJX1NRNYJI 9MJ(TRUFS^MFXSTYFQQTYYJIFS^JVZNY^XMFWJXFXKZQQ^UFNIZU\NYMTZYUF^RJSYGJNSLWJHJN[JINSHFXMNSUWJHJINSLÁ[J ^JFWXTYMJWYMFSYMTXJINXHQTXJIFGT[J P ,X\P[`:OHYLZ9LZLY]LKMVY0ZZ\L\UKLY6W[PVUZ! 7HY[PJ\SHYZ 4HYJO 2FWHM No. of INR 3TTK .37 Shares (in Crore) 8MFWJX NS(WTWJ N *RUQT^JJ 8YTHP ,WFSYX JQNLNGQJ KTW JVZNY^ XMFWJXTK.37JFHM[JXYNSLTS2F^ NN *RUQT^JJ8YTHP,WFSYXJQNLNGQJKTW JVZNY^XMFWJXTK .37JFHM[JXYNSLTS4HYTGJW NNN *RUQT^JJ8YTHP,WFSYXJQNLNGQJKTW JVZNY^XMFWJX TK.37JFHMTZYTK\MNHM NX[JXYNSLTS2F^ N[ *RUQT^JJ8YTHP,WFSYXJQNLNGQJKTW JVZNY^XMFWJXTK 0.00 .37JFHMTZYTK\MNHM NX[JXYNSLTS2F^ v) *RUQT^JJ8YTHP,WFSYXJQNLNGQJKTW JVZNY^XMFWJXTK 0.00 .37JFHMTZYTK\MNHM NX[JXYNSLTS&ZLZXY [N *RUQT^JJ 8YTHP ,WFSYX JQNLNGQJ KTW JVZNY^ XMFWJX TK 0.00 .37JFHMTZYTK\MNHM NX[JXYNSLTS/FSZFW^ [NN *RUQT^JJ8YTHP,WFSYXJQNLNGQJKTWJVZNY^XMFWJX TK .37 JFHM TZY TK \MNHM NX [JXYNSL TS /ZSJ FSINX[JXYNSLTS/ZSJ .37WJUWJXJSYXFRTZSYQJXXYMFS.37 139 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18 GODREJ PROPERTIES LIMITED NOTES FORMING PART OF STANDALONE FINANCIAL STATEMENTS (Currency in INR Crore) 7HY[PJ\SHYZ 4HYJO 2FWHM No. of INR 3TTK .37 Shares (in Crore) 8MFWJX NS(WTWJ [NNN *RUQT^JJ8YTHP,WFSYXJQNLNGQJKTW JVZNY^XMFWJXTK 0.00 .37JFHMTZYTK\MNHM NX[JXYNSLTS/FSZFW^ FSI NX[JXYNSLTS/FSZFW^ N] *RUQT^JJ 8YTHP ,WFSYX JQNLNGQJ KTW JVZNY^ XMFWJX TK 0.00 .37JFHMTZYTK\MNHMNX[JXYNSLTS2FWHM FSINX[JXYNSLTS2FWHM ] *RUQT^JJ8YTHP,WFSYXJQNLNGQJKTW JVZNY^XMFWJX TK .37 JFHM TZY TK \MNHM NX [JXYNSL TS 2F^ NX[JXYNSLTS2F^ FSI NX[JXYNSL TS2F^ ]N *RUQT^JJ8YTHP,WFSYXJQNLNGQJKTW JVZNY^XMFWJX 0.00 TK.37JFHMTZYTK\MNHM NX[JXYNSLTS/ZSJ NX[JXYNSLTS/ZSJ FSI NX[JXYNSLTS/ZSJ 6[OLY,X\P[` 4HYJO 2FWHM N(FUNYFQ7JXJW[J 7JKJW3TYJ FGJQT\ NN (FUNYFQ 7JXJW[J TS &HHTZSY TK &RFQLFRFYNTS 7JKJW 3TYJ G GJQT\ NNN8JHZWNYNJX5WJRNZR 7JKJW3TYJ HGJQT\ N[)JGJSYZWJ7JIJRUYNTS7JXJW[J 7JKJW3TYJ IGJQT\ 50.00 [*RUQT^JJ8YTHP,WFSY8HMJRJ7JXJW[J 7JKJW3TYJ JGJQT\ [N,JSJWFQ7JXJW[J 7JKJW3TYJ KGJQT\ [NN7JYFNSJI*FWSNSLX 7JKJW3TYJ LGJQT\ [NNN9WJFXZW^8MFWJX 7JKJW3TYJ MGJQT\ H *HWP[HS9LZLY]L 5WTÁYTSXFQJTKYWJFXZW^XMFWJXMJQIG^YMJ*845YWZXYNXWJHTLSNXJINS(FUNYFQWJXJW[J I *HWP[HS9LZLY]LVU(JJV\U[VM(THSNHTH[PVU )ZWNSLFRFQLFRFYNTSYMJJ]HJXXTKSJYFXXJYXYFPJST[JWYMJHTXYTKHTSXNIJWFYNTSUFNINXYWJFYJIFXHFUNYFQWJXJW[J TSFHHTZSYTKFRFQLFRFYNTS J :LJ\YP[PLZ7YLTP\T 8JHZWNYNJXUWJRNZRWJXJW[JNXZXJIYTWJHTWIYMJUWJRNZRWJHJN[JITSNXXZJTKXMFWJX.YNXZYNQNXJINSFHHTWIFSHJ\NYM YMJUWT[NXNTSXTKYMJ&HY .37WJUWJXJSYXFRTZSYQJXXYMFS.37 140 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18 NOTES FORMING PART OF STANDALONE FINANCIAL STATEMENTS (Currency in INR Crore) K +LILU[\YL9LKLTW[PVU9LZLY]L 9MJ(TRUFS^MFXNXXZJIWJIJJRFGQJSTSHTS[JWYNGQJIJGJSYZWJX&HHTWINSLQ^YMJ(TRUFSNJX 8MFWJHFUNYFQFSI )JGJSYZWJX7ZQJX FXFRJSIJIWJVZNWJXYMJ(TRUFS^YTHWJFYJ)JGJSYZWJ7JIJRUYNTS7JXJW[JTZYTKUWTÁYX TKYMJ(TRUFS^F[FNQFGQJKTWUF^RJSYTKIN[NIJSI L ,TWSV`LL:[VJR.YHU[:JOLTL9LZLY]L 9MJKFNW[FQZJTKYMJJVZNY^XJYYQJIXMFWJGFXJIUF^RJSYYWFSXFHYNTSX\NYMJRUQT^JJXNSHQZINSLPJ^RFSFLJRJSY UJWXTSSJQ NX WJHTLSNXJI NS YMJ 8YFYJRJSY TK 5WTÁY FSI 1TXX \NYM HTWWJXUTSINSL HWJINY YT *RUQT^JJ 8YTHP ,WFSY Scheme Reserve. M .LULYHS9LZLY]L 9MJ LJSJWFQ WJXJW[J NX HWJFYJI KWTR YNRJ YT YNRJ YT YWFSXKJW UWTÁYX KWTR WJYFNSJI JFWSNSLX KTW FUUWTUWNFYNTS purposes. (g) Retained Earnings 7JYFNSJIJFWSNSLXFWJYMJUWTÁYXYMFYYMJ(TRUFS^MFXJFWSJIYNQQIFYJQJXXFS^YWFSXKJWXYTLJSJWFQWJXJW[JIJGJSYZWJ redemption reserve, dividends or other distributions paid to shareholders. O ;YLHZ\Y`:OHYLZ 9MJ(TRUFS^YWJFYX*845YWZXYFXNYXJ]YJSXNTSFSIXMFWJXMJQIG^*845YWZXYFWJYWJFYJIFXYWJFXZW^XMFWJX9WJFXZW^ XMFWJXFWJWJHTLSNXJIFYHTXYFSIIJIZHYJIKWTRJVZNY^ )VYYV^PUNZ5VU*\YYLU[ 4H[\YP[` ;LYTZVM 4HYJO 2FWHM Date YLWH`TLU[ 4HYJO 2FWHM 7YV]PZPVUMVY,TWSV`LL)LULÂ[Z ,WFYZNY^ 141 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18 GODREJ PROPERTIES LIMITED NOTES FORMING PART OF STANDALONE FINANCIAL STATEMENTS (Currency in INR Crore) )VYYV^PUNZ*\YYLU[ Interest Rate 4HYJO 2FWHM :LJ\YLK3VHUZ -YVT)HURZ 4HYJO 2FWHM )ZJXYT2NHWTFSI8RFQQ*SYJWUWNXJX 4YMJWX )NXHQTXZWJTKTZYXYFSINSLIZJXTK2NHWTFSI8RFQQ*SYJWUWNXJZSIJW9WFIJ5F^FGQJXNXGFXJITSYMJNSKTWRFYNTSF[FNQFGQJ \NYM YMJ (TRUFS^ WJLFWINSL YMJ XYFYZX TK YMJ XZUUQNJWX FX IJÁSJI ZSIJW YMJ 2NHWT 8RFQQ FSI 2JINZR *SYJWUWNXJX Development Act, 2006. There is no undisputed amount overdue as on March 31, 2018 and March 31, 2017 to Micro, 8RFQQFSI2JINZR*SYJWUWNXJXTSFHHTZSYTKUWNSHNUFQTWNSYJWJXY 142 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18 NOTES FORMING PART OF STANDALONE FINANCIAL STATEMENTS (Currency in INR Crore) 6[OLY*\YYLU[-PUHUJPHS3PHIPSP[PLZ 4HYJO 2FWHM .SYJWJXYUF^FGQJ :SHQFNRJI+N]JI)JUTXNYXFSI.SYJWJXY :SHQFNRJI)N[NIJSI )JUTXNYX4YMJWX 2.50 &I[FSHJ8MFWJTK5WTÁYKWTR/TNSY;JSYZWJX 8MFWJTK1TXXKWTR115X *RUQT^JJ'JSJÁYX5F^FGQJ 4YMJW1NFGNQNYNJX 6[OLY*\YYLU[5VU-PUHUJPHS3PHIPSP[PLZ 8YFYZYTW^)ZJX &I[FSHJX7JHJN[JI&LFNSXY8FQJTK+QFYX:SNYX 4YMJWQNFGNQNYNJX 7YV]PZPVUZ*\YYLU[ 7YV]PZPVUMVY,TWSV`LL)LULÂ[Z ,WFYZNY^ (TRUJSXFYJI&GXJSHJX 4YMJWX 7JKJW3TYJ FGJQT\ F4YMJWXNSHQZIJUWT[NXNTSRFIJIZWNSLYMJ^JFWKTW1JLFQ(FXJX9MJXFRJNXJ]UJHYJIYTGJXJYYQJINS>JFWX 9L]LU\LMYVT6WLYH[PVUZ 8FQJTK7JFQ*XYFYJ)J[JQTURJSY 6[OLY6WLYH[PUN9L]LU\LZ 8FQJTK8JW[NHJX 4YMJW.SHTRJKWTR(ZXYTRJWX 8MFWJTK5WTÁY 1TXXNS1NRNYJI1NFGNQNY^5FWYSJWXMNUX Lease Rent 143 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18 GODREJ PROPERTIES LIMITED NOTES FORMING PART OF STANDALONE FINANCIAL STATEMENTS (Currency in INR Crore) 6[OLY0UJVTL 4HYJO 2FWHM Interest Income Dividend Income 0.00 5WTÁYTS8FQJTK5WTUJWY^5QFSYFSI*VZNURJSY 3JY .SHTRJKWTR.S[JXYRJSYRJFXZWJIFY+;951 5WTÁYTS8FQJTK.S[JXYRJSYX SJY Miscellaneous Income *VZ[VM:HSLZ 6WLUPUN:[VJR! Finished Goods (TSXYWZHYNTS 8FQFWNJX'TSZX,WFYZNY^FSI&QQT\FSHJX Contribution to Provident and Other Funds 8MFWJ'FXJI5F^RJSYXYT*RUQT^JJX 8YFKK .37WJUWJXJSYXFRTZSYQJXXYMFS.37 144 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18 NOTES FORMING PART OF STANDALONE FINANCIAL STATEMENTS (Currency in INR Crore) -PUHUJL*VZ[Z 4HYJO 2FWHM Interest Expense Interest on Income Tax 0.00 Total Interest Expense Other Borrowing costs ;V[HS-PUHUJL*VZ[Z 1JXX 9WFSXKJWWJIYTHTSXYWZHYNTS\TWPNSUWTLWJXX 5L[-PUHUJL*VZ[Z +LWYLJPH[PVUHUK(TVY[PZH[PVU,_WLUZL )JUWJHNFYNTSTS5WTUJWY^5QFSYFSI*VZNURJSY )JUWJHNFYNTSTS.S[JXYRJSY5WTUJWY^ &RTWYNXFYNTSTK.SYFSLNGQJ&XXJYX 6[OLY,_WLUZLZ (TSXZQYFSH^(MFWLJX Rent Insurance Rates and Taxes &I[JWYNXJRJSYFSI2FWPJYNSL*]UJSXJ Other Expenses ,HYUPUNZ7LY:OHYL H )HZPJ,HYUPUNZ7LY:OHYL 9MJHFQHZQFYNTSTKGFXNHJFWSNSLXUJWXMFWJNXGFXJITSYMJUWTÁYFYYWNGZYFGQJYTTWINSFW^XMFWJMTQIJWXFSI\JNLMYJI F[JWFLJSZRGJWTKTWINSFW^XMFWJXTZYXYFSINSL (i) 7YVÂ[H[[YPI\[HISL[VVYKPUHY`ZOHYLOVSKLYZIHZPJ 5WTÁYKTWYMJ^JFWFYYWNGZYFGQJYTTWINSFW^XMFWJMTQIJWXTKYMJ Company .37WJUWJXJSYXFRTZSYQJXXYMFS.37 145 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18 GODREJ PROPERTIES LIMITED NOTES FORMING PART OF STANDALONE FINANCIAL STATEMENTS (Currency in INR Crore) 4HYJO 2FWHM (ii) >LPNO[LKH]LYHNLU\TILYVMVYKPUHY`ZOHYLZIHZPJ 3ZRGJWTK*VZNY^8MFWJXFYYMJGJLNSSNSLTKYMJ^JFW 1JXX *KKJHYTKYWJFXZW^XMFWJXMJQI &II *KKJHYTKXMFWJTUYNTSXJ]JWHNXJI )HZPJ,HYUPUNZ7LY:OHYL059 I +PS\[LK,HYUPUNZ7LY:OHYL 9MJHFQHZQFYNTSTKINQZYJIJFWSNSLXUJWXMFWJNXGFXJITSYMJUWTÁYFYYWNGZYFGQJYTTWINSFW^XMFWJMTQIJWXFSI\JNLMYJI F[JWFLJ SZRGJW TK TWINSFW^ XMFWJX TZYXYFSINSL FKYJW FIOZXYRJSY KTW YMJ JKKJHYX TK FQQ INQZYN[J UTYJSYNFQ TWINSFW^ shares. . (i) 7YVÂ[H[[YPI\[HISL[VVYKPUHY`ZOHYLOVSKLYZKPS\[LK 5WTÁYKTWYMJ^JFWFYYWNGZYFGQJYTTWINSFW^XMFWJMTQIJWXTKYMJ (TRUFS^ (ii) >LPNO[LKH]LYHNLU\TILYVMVYKPUHY`ZOHYLZKPS\[LK Diluted Earnings Per Share (INR) ,TWSV`LL)LULÂ[Z H +LÂULK*VU[YPI\[PVU7SHUZ! (TSYWNGZYNTSYT)JÁSJI(TSYWNGZYNTS5QFSXWJHTLSNXJIFXFSJ]UJSXJKTWYMJ^JFWFWJFXZSIJW *RUQT^JW X(TSYWNGZYNTSYT5WT[NIJSY+ZSI ,WTXXGJKTWJ Allocation) *RUQT^JW X(TSYWNGZYNTSYT*8.( 0.00 .37WJUWJXJSYXFRTZSYQJXXYMFS.37 146 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18 NOTES FORMING PART OF STANDALONE FINANCIAL STATEMENTS (Currency in INR Crore) I +LÂULK)LULÂ[7SHUZ! (TSYWNGZYNTSYT,WFYZNY^+ZSI 3TS+ZSIJI ,WFYZNY^NXUF^FGQJYTFQQJQNLNGQJJRUQT^JJXTSIJFYMTWTSXJUFWFYNTSYJWRNSFYNTSNSYJWRXTKYMJUWT[NXNTSXTKYMJ 5F^RJSYTK,WFYZNY^&HYTWFXUJWYMJ(TRUFS^¸XUTQNH^\MNHMJ[JWNXGJSJÁHNFQYTYMJJRUQT^JJX 9MJ JXYNRFYJX TK KZYZWJ XFQFW^ NSHWJFXJX HTSXNIJWJI NS FHYZFWNFQ [FQZFYNTS YFPJ NSYT FHHTZSY NSÂFYNTS XJSNTWNY^ UWTRTYNTSFSITYMJWWJQJ[FSYKFHYTWXXZHMFXXZUUQ^FSIIJRFSINSYMJJRUQT^RJSYRFWPJY P *OHUNLPUWYLZLU[]HS\LVMKLÂULKILULÂ[VISPNH[PVU 4HYJO 2FWHM 5WJXJSY[FQZJTKTGQNLFYNTSFXFYGJLNSSNSLTKYMJ^JFW Interest Cost Current Service Cost 'JSJÁYX5FNI *KKJHYTK1NFGNQNY^9WFSXKJWNS 0.02 *KKJHYTK1NFGNQNY^9WFSXKJWTZY Actuarial (gains) / losses on obligations - due to change 0.22 in demographic assumptions Actuarial (gains) / losses on obligations - due to change NSÁSFSHNFQFXXZRUYNTSX Actuarial (gains) / losses on obligations - due to change in experience 5WJXJSY[FQZJTKTGQNLFYNTSFXFYYMJJSITKYMJ^JFW PP (TV\U[YLJVNUPZLKPU[OL)HSHUJL:OLL[ 5WJXJSY[FQZJTKTGQNLFYNTSFXFYJSITKYMJ^JFW +FNW[FQZJTKUQFSFXXJYXFXFYJSITKYMJ^JFW 3JYTGQNLFYNTSFXFYJSITKYMJ^JFW PPP5L[NYH[\P[`JVZ[MVY[OL`LHY 9LJVNUPZLKPU[OL:[H[LTLU[VM7YVÂ[HUK3VZZ Current Service Cost Interest Cost Total .37WJUWJXJSYXFRTZSYQJXXYMFS.37 147 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18 GODREJ PROPERTIES LIMITED NOTES FORMING PART OF STANDALONE FINANCIAL STATEMENTS (Currency in INR Crore) 4HYJO 2FWHM 9LJVNUPZLKPU6[OLY*VTWYLOLUZP]L0UJVTL6*0 Remeasurement due to: Actuarial (gains)/losses on obligations - due to change in 0.22 demographic assumptions Actuarial (gains)/losses on obligations - due to change in ÁSFSHNFQFXXZRUYNTSX Actuarial (gains)/losses on obligations - due to change in experience Total 5L[.YH[\P[`JVZ[PU;V[HS*VTWYLOLUZP]L0UJVTL6*0 P] ;OL7YPUJPWHSHZZ\TW[PVUZ\ZLKPUKL[LYTPUPUN[OLWYLZLU[]HS\LVMKLÂULKILULÂ[VISPNH[PVUMVY[OL*VTWHU`ºZ WSHUHYLNP]LUILSV^! 7HY[PJ\SHYZ 4HYJO 2FWHM Discount Rate 8FQFW^JXHFQFYNTSWFYJ Attrition Rate -VYZLY]PJL`LHYZHUK ILSV^ WH -VY ZLY]PJL `LHYZHUK HIV]L WH 2TWYFQNY^ 0UKPHU(ZZ\YLK3P]LZ .SINFS&XXZWJI1N[JX 4VY[HSP[` 2TWYFQNY^ ] :LUZP[P]P[`HUHS`ZPZ &VZFSYNYFYN[JXJSXNYN[NY^FSFQ^XNXTS)JÁSJI'JSJÁY4GQNLFYNTSKTWXNLSNÁHFSYFXXZRUYNTSXFXFY2FWHM NX shown below: 4HYJO 2FWHM 7HY[PJ\SHYZ 0UJYLHZL +LJYLHZL .SHWJFXJ )JHWJFXJ Discount Rate (1% movement) 8FQFW^JXHFQFYNTSWFYJ RT[JRJSY Attrition Rate (1% movement) 9MJXJSXNYN[NY^FSFQ^XNXUWJXJSYJIFGT[JRF^STYGJWJUWJXJSYFYN[JTKYMJFHYZFQHMFSLJNSYMJIJÁSJIGJSJÁYTGQNLFYNTS FXNYNXZSQNPJQ^YMFYYMJHMFSLJNSFXXZRUYNTSX\TZQITHHZWNSNXTQFYNTSTKTSJFSTYMJWFXXTRJTKYMJFXXZRUYNTSXRF^ GJHTWWJQFYJI+ZWYMJWRTWJNSUWJXJSYNSLYMJFGT[JXJSXNYN[NY^FSFQ^XNXYMJUWJXJSY[FQZJTKYMJIJÁSJIGJSJÁYTGQNLFYNTS MFXGJJSHFQHZQFYJIZXNSLYMJUWTOJHYJIZSNYHWJINYRJYMTIFYYMJJSITKYMJWJUTWYNSLUJWNTI\MNHMNXYMJXFRJFXYMFY FUUQNJINSHFQHZQFYNSLYMJIJÁSJIGJSJÁYTGQNLFYNTSQNFGNQNY^WJHTLSNXJINSYMJGFQFSHJXMJJY9MJWJ\FXSTHMFSLJNSYMJ RJYMTIXFSIFXXZRUYNTSXZXJINSUWJUFWNSLYMJXJSXNYN[NY^FSFQ^XNXKWTRUWNTW^JFW 148 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18 NOTES FORMING PART OF STANDALONE FINANCIAL STATEMENTS (Currency in INR Crore) ]P;OLL_WLJ[LKM\[\YLJHZOÃV^ZPUYLZWLJ[VMNYH[\P[`HZH[4HYJO ^LYLHZMVSSV^Z! 2FYZWNY^&SFQ^XNXTK5WTOJHYJI'JSJÁY4GQNLFYNTS +WTRYMJ*RUQT^JW 7YVQLJ[LK)LULÂ[Z7H`HISLPU-\[\YL@LHYZMYVT[OL 4HYJO 2FWHM Reporting Date XY+TQQT\NSL>JFW SI+TQQT\NSL>JFW WI+TQQT\NSL>JFW YM+TQQT\NSL>JFW YM+TQQT\NSL>JFW 8ZRTK>JFWXYT *VTWLUZH[LKHIZLUJLZ (TRUJSXFYJIFGXJSHJXKTWJRUQT^JJGJSJÁYXTK.37 (WTWJ 5WJ[NTZX>JFW .37 (WTWJJ]UJHYJIYTGJUFNI NSJ]HMFSLJKTWYMJXJW[NHJXWJHTLSNXJIFXFSJ]UJSXJIZWNSLYMJ^JFW -PUHUJPHSPUZ[Y\TLU[Zµ-HPY]HS\LZHUKYPZRTHUHNLTLU[ H(JJV\U[PUNJSHZZPÂJH[PVUHUKMHPY]HS\LZ 9MJKTQQT\NSLYFGQJXMT\XYMJHFWW^NSLFRTZSYXFSIKFNW[FQZJXTKÁSFSHNFQFXXJYXFSIÁSFSHNFQQNFGNQNYNJXNSHQZINSLYMJNW QJ[JQXNSYMJKFNW[FQZJMNJWFWHM^.YITJXSTYNSHQZIJKFNW[FQZJNSKTWRFYNTSKTWÁSFSHNFQFXXJYXFSIÁSFSHNFQQNFGNQNYNJXSTY RJFXZWJIFYKFNW[FQZJNKYMJHFWW^NSLFRTZSYNXFWJFXTSFGQJFUUWT]NRFYNTSTKKFNW[FQZJ *HYY`PUNHTV\U[ -HPY]HS\L -HPY]HS\L 4HYJO through (TVY[PZLK Total 3L]LS 3L]LS 3L]LS Total WYVÂ[HUK Cost loss -PUHUJPHS(ZZL[Z 5VU*\YYLU[ .S[JXYRJSYNS5WJKJWJSHJ Shares 4YMJW.S[JXYRJSYX .S[JXYRJSYNS)JGJSYZWJX .S[JXYRJSYNS*VZNY^ 0.00 0.00 0.00 0.00 .SXYWZRJSYX Loans Current Investments .37WJUWJXJSYXFRTZSYQJXXYMFS.37 149 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18 GODREJ PROPERTIES LIMITED NOTES FORMING PART OF STANDALONE FINANCIAL STATEMENTS (Currency in INR Crore) *HYY`PUNHTV\U[ -HPY]HS\L -HPY]HS\L 4HYJO through (TVY[PZLK Total 3L]LS 3L]LS 3L]LS Total WYVÂ[HUK Cost loss 9WFIJWJHJN[FGQJX (FXMFSIHFXMJVZN[FQJSYX 'FSPGFQFSHJXTYMJWYMFS FGT[J Loans 4YMJW(ZWWJSY+NSFSHNFQ Assets -PUHUJPHS3PHIPSP[PLZ 5VU*\YYLU[ 'TWWT\NSLX 500.00 500.00 Current 'TWWT\NSLX 9WFIJ5F^FGQJX 4YMJW(ZWWJSY+NSFSHNFQ 1NFGNQNYNJX *HYY`PUNHTV\U[ -HPY]HS\L -HPY]HS\L 4HYJO through (TVY[PZLK Total 3L]LS 3L]LS 3L]LS Total WYVÂ[HUK Cost loss -PUHUJPHS(ZZL[Z 5VU*\YYLU[ .S[JXYRJSYNS5WJKJWJSHJ 0.05 0.05 Shares 4YMJW.S[JXYRJSYX .S[JXYRJSYNS)JGJSYZWJX Investment in 0.00 0.00 0.00 0.00 *VZNY^.SXYWZRJSYX Loans 4YMJW3TS(ZWWJSY+NSFSHNFQ Assets Current Investments .37WJUWJXJSYXFRTZSYQJXXYMFS.37 150 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18 NOTES FORMING PART OF STANDALONE FINANCIAL STATEMENTS (Currency in INR Crore) *HYY`PUNHTV\U[ -HPY]HS\L -HPY]HS\L 4HYJO through (TVY[PZLK Total 3L]LS 3L]LS 3L]LS Total WYVÂ[HUK Cost loss 9WFIJWJHJN[FGQJX (FXMFSIHFXMJVZN[FQJSYX 'FSPGFQFSHJXTYMJWYMFS FGT[J Loans 4YMJW(ZWWJSY+NSFSHNFQ Assets -PUHUJPHS3PHIPSP[PLZ Current 'TWWT\NSLX 9WFIJ5F^FGQJX 4YMJW(ZWWJSY+NSFSHNFQ 1NFGNQNYNJX I 4LHZ\YLTLU[VM-HPY=HS\L N 9MJKFNW[FQZJXTKNS[JXYRJSYXNSRZYZFQKZSIZSNYXNXGFXJITSYMJSJYFXXJY[FQZJ ·3&;¸FXXYFYJIG^YMJNXXZJWX TKYMJXJRZYZFQKZSIZSNYXNSYMJUZGQNXMJIXYFYJRJSYXFXFY'FQFSHJ8MJJYIFYJ3&;WJUWJXJSYXYMJUWNHJFY \MNHMYMJNXXZJW\NQQNXXZJKZWYMJWZSNYXTKRZYZFQKZSIFSIYMJUWNHJFY\MNHMNXXZJWX\NQQWJIJJRXZHMZSNYXKWTR the investors. NN 9MJ(TRUFS^ZXJXYMJ)NXHTZSYJI(FXM+QT\[FQZFYNTSYJHMSNVZJ NSWJQFYNTSYTÁSFSHNFQFXXJYXRJFXZWJIFY FRTWYNXJIHTXYFSIKFNW[FQZJYMWTZLMUWTÁYTWQTXX\MNHMNS[TQ[JXIJYJWRNSFYNTSTKUWJXJSY[FQZJTKJ]UJHYJI WJHJNUYUF^RJSYINXHTZSYJIZXNSLFUUWTUWNFYJINXHTZSYNSLWFYJX9MJKFNW[FQZJXTIJYJWRNSJIFWJHQFXXNÁJIFX Level 2. J 9PZR4HUHNLTLU[-YHTL^VYR 9MJ(TRUFS^¸X'TFWITK)NWJHYTWXMF[JT[JWFQQWJXUTSXNGNQNY^KTWYMJJXYFGQNXMRJSYFSIT[JWXNLMYTKYMJ(TRUFS^¸X WNXPRFSFLJRJSYKWFRJ\TWP9MJ'TFWITK)NWJHYTWXMF[JJXYFGQNXMJIYMJ7NXP2FSFLJRJSY(TRRNYYJJ\MNHMNX WJXUTSXNGQJKTWIJ[JQTUNSLFSIRTSNYTWNSLYMJ(TRUFS^¸XWNXPRFSFLJRJSYUTQNHNJX9MJHTRRNYYJJWJUTWYXWJLZQFWQ^ YTYMJ'TFWITK)NWJHYTWXTSNYXFHYN[NYNJX 9MJ(TRUFS^¸XWNXPRFSFLJRJSYUTQNHNJXFWJJXYFGQNXMJIYTNIJSYNK^FSIFSFQ^XJYMJWNXPXKFHJIG^YMJ(TRUFS^YT XJYFUUWTUWNFYJWNXPQNRNYXFSIHTSYWTQXFSIYTRTSNYTWWNXPXFSIFIMJWJSHJYTQNRNYX7NXPRFSFLJRJSYUTQNHNJXFSI X^XYJRXFWJWJ[NJ\JIWJLZQFWQ^YTWJÂJHYHMFSLJXNSRFWPJYHTSINYNTSXFSIYMJ(TRUFS^¸XFHYN[NYNJX9MJ(TRUFS^ through its training and management standards and procedures, aims to maintain a disciplined and constructive HTSYWTQJS[NWTSRJSYNS\MNHMFQQJRUQT^JJXZSIJWXYFSIYMJNWWTQJXFSITGQNLFYNTSX 9MJ&ZINY(TRRNYYJJT[JWXJJXMT\RFSFLJRJSYRTSNYTWXHTRUQNFSHJ\NYMYMJ(TRUFS^¸XWNXPRFSFLJRJSYUTQNHNJX FSIUWTHJIZWJXFSIWJ[NJ\XYMJFIJVZFH^TKYMJWNXPRFSFLJRJSYKWFRJ\TWPNSWJQFYNTSYTYMJWNXPXKFHJIG^YMJ (TRUFS^ 9MJ &ZINY (TRRNYYJJ NX FXXNXYJI NS NYX T[JWXNLMY WTQJ G^ NSYJWSFQ FZINY .SYJWSFQ FZINY ZSIJWYFPJX GTYM WJLZQFWFSIFIMTHWJ[NJ\XTKWNXPRFSFLJRJSYHTSYWTQXFSIUWTHJIZWJXYMJWJXZQYXTK\MNHMFWJWJUTWYJIYTYMJ&ZINY Committee. 151 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18 GODREJ PROPERTIES LIMITED NOTES FORMING PART OF STANDALONE FINANCIAL STATEMENTS (Currency in INR Crore) K -PUHUJPHSYPZRTHUHNLTLU[ 9MJ(TRUFS^MFXJ]UTXZWJYTYMJKTQQT\NSLWNXPXFWNXNSLKWTRÁSFSHNFQNSXYWZRJSYX N (WJINY7NXP NN 1NVZNINY^7NXP NNN 2FWPJY7NXP P *YLKP[YPZR (WJINYWNXPNXYMJWNXPTKÁSFSHNFQQTXXYTYMJ(TRUFS^NKFHZXYTRJWTWHTZSYJWUFWY^YTFÁSFSHNFQNSXYWZRJSY KFNQXYTRJJYNYXHTSYWFHYZFQTGQNLFYNTSXFSIFWNXJXUWNSHNUFQQ^KWTRYMJ(TRUFS^¸XWJHJN[FGQJXKWTRHZXYTRJWX investments in debt securities, loans given to related parties and project deposits. 9MJHFWW^NSLFRTZSYTKÁSFSHNFQFXXJYXWJUWJXJSYXYMJRF]NRZRHWJINYJ]UTXZWJ ;YHKL9LJLP]HISLZ (ZXYTRJWHWJINYWNXPNXRFSFLJIG^WJVZNWNSLHZXYTRJWXYTUF^FI[FSHJXYMWTZLMUWTLWJXXGNQQNSLXGJKTWJYWFSXKJW TKT\SJWXMNUYMJWJKTWJXZGXYFSYNFQQ^JQNRNSFYNSLYMJ(TRUFS^¸XHWJINYWNXPNSYMNXWJXUJHY 9MJ(TRUFS^¸XHWJINYWNXP\NYMWJLFWIYTYWFIJWJHJN[FGQJMFXFMNLMIJLWJJTKWNXPIN[JWXNÁHFYNTSIZJYTYMJQFWLJ SZRGJWTKUWTOJHYXTK[FW^NSLXN_JXFSIY^UJX\NYMSZRJWTZXINKKJWJSYHZXYTRJWHFYJLTWNJXNSFQFWLJSZRGJWTK LJTLWFUMNHFQRFWPJYX &XUJWXNRUQNÁJIFUUWTFHMYMJ(TRUFS^RFPJXUWT[NXNTSTKJ]UJHYJIHWJINYQTXXJXTSYWFIJWJHJN[FGQJXYT RNYNLFYJYMJWNXPTKIJKFZQYUF^RJSYXFSIRFPJXFUUWTUWNFYJUWT[NXNTSFYJFHMWJUTWYNSLIFYJ\MJWJ[JWTZYXYFSINSL NXKTWQTSLJWUJWNTIFSINS[TQ[JXMNLMJWWNXP 9MJ RT[JRJSY NS YMJ FQQT\FSHJ KTW NRUFNWRJSY NS WJXUJHY TK YWFIJ WJHJN[FGQJX IZWNSL YMJ ^JFW \FX FX KTQQT\X 7HY[PJ\SHYZ 4HYJO 2FWHM Opening balance 0.55 Add: Impairment loss recognised (QTXNSLGFQFSHJ 0U]LZ[TLU[PU+LI[:LJ\YP[PLZ3VHUZ[V9LSH[LK7HY[PLZHUK7YVQLJ[+LWVZP[Z 9MJ(TRUFS^MFXNS[JXYRJSYXNSHTRUZQXTWNQ^HTS[JWYNGQJIJGJSYZWJXTUYNTSFQQ^HTS[JWYNGQJIJGJSYZWJXQTFSX 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LLP Chartered Accountants Firm’s Registration No: 101248W/W-100022 (UPY\KKOH.VKIVSL 2ZRGFN Partner 2F^ Membership No: 105149 179 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18 GODREJ PROPERTIES LIMITED (43841.)&9*)'&1&3(*8-**9&8&92&7(- (ZWWJSH^NS.37(WTWJ Particulars Note As At As At 4HYJO 2FWHM ASSETS 5VU*\YYLU[(ZZL[Z 5WTUJWY^5QFSYFSI*VZNURJSY (FUNYFQ (ZWWJSH^NS.37(WTWJ Particulars Note -VY[OL`LHYLUKLK +TWYMJ^JFWJSIJI 4HYJO 2FWHM INCOME 7J[JSZJKWTR4UJWFYNTSX 4YMJW.SHTRJ ;V[HS0UJVTL EXPENSES (TXYTK8FQJX *RUQT^JJ'JSJÁYX*]UJSXJ +NSFSHJ(TXYX )JUWJHNFYNTSFSI&RTWYNXFYNTS*]UJSXJ 4YMJW*]UJSXJX Total Expenses 7YVÂ[ILMVYLZOHYLVMWYVÂ[PUQVPU[]LU[\YLZHUK associate and tax 8MFWJTKUWTÁYTKOTNSY[JSYZWJXFSIFXXTHNFYJ SJYTKYF] 6.02 7YVÂ[ILMVYL;H_ Tax Expense (ZWWJSY9F] G )JKJWWJI9F](MFWLJ (WJINY F Total Tax Expense 7YVÂ[MVY[OL@LHY 6[OLY*VTWYLOLUZP]L0UJVTL 0[LTZ [OH[ ^PSS UV[ IL Z\IZLX\LU[S` YLJSHZZPÂLK [V WYVÂ[ or loss 7JRJFXZWJRJSYXTKYMJIJÁSJIGJSJÁYUQFS 9F]TSFGT[J F 0[LTZ[OH[^PSSILZ\IZLX\LU[S`YLJSHZZPÂLK[VWYVÂ[VYSVZZ *]HMFSLJINKKJWJSHJNSYWFSXQFYNSLYMJÁSFSHNFQ XYFYJRJSYXTKFKTWJNLSTUJWFYNTS 6[OLY*VTWYLOLUZP]L0UJVTLMVY[OL@LHY5L[VM;H_ ;V[HS*VTWYLOLUZP]L0UJVTLMVY[OL@LHY ,HYUPUNZ7LY:OHYL(TV\U[PU059 'FXNH )NQZYJI Accounting Policies 9MJFHHTRUFS^NSLSTYJXYTKTWRFSNSYJLWFQUFWYTKYMJ(TSXTQNIFYJI+NSFSHNFQ8YFYJRJSYX &XUJWTZWWJUTWYTKJ[JSIFYJ -VYHUKVUILOHSMVM[OL)VHYKVM+PYLJ[VYZVM For B S R & Co. LLP .VKYLQ7YVWLY[PLZ3PTP[LK Chartered Accountants PIROJSHA GODREJ MOHIT MALHOTRA +NWR¸X7JLNXYWFYNTS3T << Executive Chairman Managing Director & CEO ).3 ).3 ANIRUDDHA GODBOLE SURENDER VARMA RAJENDRA KHETAWAT 5FWYSJW (TRUFS^8JHWJYFW^ (MNJK+NSFSHNFQ4KÁHJW 2JRGJWXMNU3T .(8.2JRGJWXMNU3T & 2ZRGFN 2ZRGFN 2F^ 2F^ 181 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18 GODREJ PROPERTIES LIMITED (43841.)&9*)89&9*2*394+(-&3,*8.3*6:.9>+479-*>*&7*3)*)2&7(- (ZWWJSH^NS.37(WTWJ H ,X\P[`:OHYL*HWP[HS Particulars As At As At 4HYJO 2FWHM 'FQFSHJFYYMJGJLNSSNSLTKYMJ^JFW (MFSLJXNSJVZNY^XMFWJHFUNYFQIZWNSLYMJ^JFW 0.06 'FQFSHJFYYMJJSITKYMJ^JFW I 6[OLY,X\P[` 9LZLY]LZHUK:\YWS\Z Exchange KPMMLYLUJLZ Capital ,TWSV`LL on +LILU[\YL Particulars Capital 9LZLY]LVU Securities Stock Grant Retained ;YLHZ\Y` translating Total 9LKLTW[PVU 9LZLY]L (JJV\U[VM 7YLTP\T :JOLTL Earnings Shares [OLÂUHUJPHS 9LZLY]L (THSNHTH[PVU 9LZLY]L Z[H[LTLU[Z VMHMVYLPNU operation )HSHUJLHZH[(WYPS ;V[HS*VTWYLOLUZP]L0UJVTL! i) 5WTÁYKTWYMJ^JFW ii) 7JRJFXZWJRJSYXTKYMJIJÁSJIGJSJÁY UQFS SJYTKYF] iii) *]HMFSLJINKKJWJSHJNSYWFSXQFYNSLYMJ ÁSFSHNFQXYFYJRJSYXTKFKTWJNLSTUJWFYNTS &IOZXYRJSYX i) 8MFWJNXXZJJ]UJSXJX SJYTKIJKJWWJIYF] ii) 8FQJTKYWJFXZW^XMFWJX iii) 9WFSXKJWYTXJHZWNYNJXUWJRNZRTSJ]JWHNXJ TKXYTHPLWFSYX iv) 5ZYTUYNTSQNFGNQNY^ v) 8MFWJGFXJIUF^RJSYXYTJRUQT^JJX 7JKJW3TYJ )HSHUJLHZH[4HYJO 7.20 132.62 1,699.22 - 3.69 53.19 - (0.37)1,895.55 Balance as at April 01, 2017 7.20 132.62 1,699.22 - 3.69 53.19 - (0.37)1,895.55 ;V[HS*VTWYLOLUZP]L0UJVTL! i) 5WTÁYKTWYMJ^JFW - - - - - 234.96 - - 234.96 ii) 7JRJFXZWJRJSYXTKYMJIJÁSJIGJSJÁY - - - - - (2.81) - - (2.81) UQFS SJYTKYF] Adjustments: i) &IINYNTSXIZWNSLYMJ^JFW - (0.01) - - - - - 0.37 0.36 ii) 9WFSXKJWYTIJGJSYZWJWJIJRUYNTS - - - 50.00 - (50.00) - - - reserve iii) 9WFSXKJWYTXJHZWNYNJXUWJRNZRTS - - 3.03 - (3.03) - - - - J]JWHNXJTKXYTHPLWFSYX iv) 8MFWJGFXJIUF^RJSYXYTJRUQT^JJX - - - - 3.99 - - - 3.99 7JKJW3TYJ )HSHUJLHZH[4HYJO 7.20 50.00 9MJFHHTRUFS^NSLSTYJXYTKTWRFSNSYJLWFQUFWYTKYMJ(TSXTQNIFYJI+NSFSHNFQ8YFYJRJSYX -VYHUKVUILOHSMVM[OL)VHYKVM+PYLJ[VYZVM For B S R & Co. 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urrency in INR Crore) 4HYJO 2FWHM I 5VU[YHKL0U]LZ[TLU[Z 0U]LZ[TLU[PU-\SS`WHPK\W,X\P[`0UZ[Y\TLU[ZH[-HPY=HS\L [OYV\NO7YVÂ[VY3VZZ 8\V[LK0U]LZ[TLU[Z 5WJ[NTZX>JFW *VZNY^8MFWJXTK.37JFHMTK (SHJYP[`/V\ZPUN3PTP[LK 0.00 5WJ[NTZX>JFW *VZNY^8MFWJXTK.37JFHMTK (UZHS)\PSK^LSS3PTP[LK 0.00 5WJ[NTZX>JFW TK.37JFHMTK (UZHS/V\ZPUNHUK*VUZ[Y\J[PVU3PTP[LK 0.00 5WJ[NTZX>JFW *VZNY^8MFWJXTK.37JFHMTK (UZHS7YVWLY[PLZHUK0UMYHZ[Y\J[\YL3PTP[LK 0.00 5WJ[NTZX>JFW *VZNY^8MFWJXTK.37JFHMTK Lok /V\ZPUNHUK*VUZ[Y\J[PVUZ3PTP[LK 0.00 5WJ[NTZX>JFW *VZNY^8MFWJXTK.37JFHM .SVIHS0UMYHZ[Y\J[\YL ;LJOUVSVNPLZ3PTP[LK 0.00 5WJ[NTZX>JFW *VZNY^8MFWJXTK.37JFHMTK 7YLTPLY,ULYN`HUK0UMYHZ[Y\J[\YL3PTP[LK 0.00 5WJ[NTZX>JFW *VZNY^8MFWJXTK.37JFHMTK +:2\SRHYUP+L]LSVWLYZ3PTP[LK 0.00 5WJ[NTZX>JFW *VZNY^8MFWJXTK.37JFHMTK .37WJUWJXJSYXFRTZSYQJXXYMFS.37 205 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18 GODREJ PROPERTIES LIMITED NOTES FORMING PART OF CONSOLIDATED FINANCIAL STATEMENTS (Currency in INR Crore) 3VHUZ5VU*\YYLU[ 4HYJO 2FWHM :LJ\YLK*VUZPKLYLK.VVK )JUTXNYX5WTOJHYX 7JKJW3TYJ FGJQT\ 6[OLY5VU*\YYLU[-PUHUJPHS(ZZL[Z Balance 4V]LTLU[K\YPUN[OL`LHY (ZH[4HYJO as at Recognised Recognised Recognised Others +LMLYYLK +LMLYYLK Particulars (WYPS PU7YVÂ[VY in Other in OCI Tax Asset Tax Loss ,X\P[` 3PHIPSP[PLZ +LMLYYLK;H_(ZZL[ 3PHIPSP[PLZ 5WTUJWY^5QFSYFSI *VZNURJSY 'WTZLMY+TW\FWI1TXX 0.59 .S[JSYTWNJX :SFGXTWGJI)JUWJHNFYNTS 0.27 *RUQT^JJ'JSJÁYX 6.27 *VZNY^XJYYQJIXMFWJ based payments 2&9(WJINY 20.90 4YMJW.YJRX +LMLYYLK;H_(ZZL[Z 0.07 0.59 3PHIPSP[PLZ .37WJUWJXJSYXFRTZSYQJXXYMFS.37 206 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18 NOTES FORMING PART OF CONSOLIDATED FINANCIAL STATEMENTS (Currency in INR Crore) Balance 4V]LTLU[K\YPUN[OL`LHY (Z([4HYJO as at Particulars Recognised Recognised Recognised Others +LMLYYLK +LMLYYLK (WYPS PU7YVÂ[VY in Other in OCI Tax Asset Tax Loss ,X\P[` 3PHIPSP[PLZ +LMLYYLK;H_(ZZL[Z 3PHIPSP[PLZ 5WTUJWY^5QFSYFSI *VZNURJSY 'WTZLMY+TW\FWI1TXX .S[JSYTWNJX :SFGXTWGJI)JUWJHNFYNTS *RUQT^JJ'JSJÁYX *VZNY^XJYYQJIXMFWJ based payments 2&9(WJINY 4YMJW.YJRX +LMLYYLK;H_(ZZL[Z 0.20 3PHIPSP[PLZ I (TV\U[ZYLJVNUPZLKPU[OL*VUZVSPKH[LK:[H[LTLU[VM7YVÂ[HUK3VZZ Particulars 4HYJO 2FWHM Current Tax Current Tax 9F]&IOZXYRJSYTK5WNTW>JFWX +LMLYYLK;H_*OHYNL*YLKP[ )JKJWWJI9F] ;H_,_WLUZLMVY[OL`LHY J 9LJVUJPSPH[PVUVM,MMLJ[P]L;H_9H[L Particulars 7YVÂ[)LMVYL;H_ 9F]ZXNSLYMJ(TRUFS^ XITRJXYNHYF]WFYJ ;H_LMMLJ[VM! )NKKJWJSHJNS7FYJTK8ZGXNINFWNJX Non-deductible expenses Tax-exempt income (MFSLJNSWJHTLSNXJIIJIZHYNGQJYJRUTWFW^INKKJWJSHJX &IOZXYRJSYKTWYF]TKUWNTW^JFWX 0.66 Unabsorbed losses 8MFWJTKUWTÁYTKOTNSY[JSYZWJX Other adjustments Tax expense recognised .37WJUWJXJSYXFRTZSYQJXXYMFS.37 207 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18 GODREJ PROPERTIES LIMITED NOTES FORMING PART OF CONSOLIDATED FINANCIAL STATEMENTS (Currency in INR Crore) 6[OLY5VU*\YYLU[5VU-PUHUJPHS(ZZL[Z 4HYJO 2FWHM 0U]LU[VYPLZ=HS\LKH[SV^LYVM*VZ[HUK5L[9LHSPZHISL=HS\L +NSNXMJI,TTIX (TSXYWZHYNTS 0U]LZ[TLU[Z Quoted .S[JXYRJSYNS2ZYZFQ+ZSIXHFWWNJIFY+FNW;FQZJYMWTZLM5WTÁYTW1TXX 4HYRL[=HS\LVM8\V[LK0U]LZ[TLU[Z &LLWJLFYJGTTP[FQZJTK6ZTYJI.S[JXYRJSYXFSI2FWPJY;FQZJYMJWJTK ;YHKL9LJLP]HISLZ To related parties Unsecured, Considered Good To parties other than related parties Unsecured, Considered Good :SXJHZWJI(TSXNIJWJI)TZGYKZQ 1JXX &QQT\FSHJKTW'FIFSI)TZGYKZQIJGYX *HZOHUK*HZO,X\P]HSLU[Z Particulars Balances With Banks In Current Accounts .S+N]JI)JUTXNY&HHTZSYX\NYMRFYZWNY^QJXXYMFSRTSYMX (MJVZJX4S-FSI (FXM4S-FSI 208 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18 NOTES FORMING PART OF CONSOLIDATED FINANCIAL STATEMENTS (Currency in INR Crore) )HUR)HSHUJLZV[OLY[OHUHIV]L 4HYJO 2FWHM Balances With Banks .S(ZWWJSY&HHTZSYX 7JKJW3TYJ FGJQT\ .S+N]JI)JUTXNY&HHTZSYX\NYMRFYZWNY^RTWJYMFSRTSYMX GZYQJXXYMFSRTSYMX 7JKJW3TYJ GGJQT\ F .SHQZIJX N 'FQFSHJX\NYM'FSPXNSHZWWJSYFHHTZSYX.37(WTWJ 5WJ[NTZX>JFW .37(WTWJNXTSFHHTZSYTKJFWRFWPJI GFQFSHJKTWZSHQFNRJIIN[NIJSI NN 'FQFSHJX\NYM'FSPXNSHZWWJSYFHHTZSYX.37(WTWJ 5WJ[NTZX>JFW .37(WTWJNXFRTZSYWJHJN[JIKWTR GZ^JWXYT\FWIXRFNSYJSFSHJHMFWLJX G .SHQZIJX N .37 (WTWJ 5WJ[NTZX>JFW .37(WTWJWJHJN[JIKWTRÂFYGZ^JWXFSIMJQINSYWZXYTSYMJNWGJMFQKNSFHTWUZX KZSI NN )JUTXNYXMJQIFX)JUTXNY7JUF^RJSY7JXJW[JFRTZSYNSLYT.37(WTWJ 5WJ[NTZX>JFW .37(WTWJ NNN 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8MFWJX NS(WTWJ ,X\P[`:OHYLZ! 4ZYXYFSINSLFYYMJGJLNSSNSLTKYMJ^JFW .XXZJIIZWNSLYMJ^JFW 0.06 4ZYXYFSINSLFYYMJJSITKYMJ^JFW L :OHYLOVSKPUN0UMVYTH[PVU 4HYJO 2FWHM ,X\P[`:OHYLOLSKI`! 5VVM INR 3TTK .37 Shares (in Crore) 8MFWJX NS(WTWJ ,TIWJO.SIZXYWNJX1NRNYJI -TQINSL(TRUFS^ ,TIWJO 'T^HJ2FSZKFHYZWNSL(TRUFS^1NRNYJI :QYNRFYJ-TQINSL (TRUFS^ZUYT2FWHM *SXJRGQJ-TQINSLX +NSFSHJ1NRNYJI 8ZGXNINFW^TK-TQINSL 0.69 Company) M 9PNO[ZWYLMLYLUJLZHUKYLZ[YPJ[PVUZH[[HJOLK[V,X\P[`ZOHYLZ 9MJ(TRUFS^MFXTSQ^TSJHQFXXTKJVZNY^XMFWJXMF[NSLFUFW[FQZJTK.37UJWXMFWJ*FHMMTQIJWTKJVZNY^XMFWJX NXJSYNYQJIYTTSJ[TYJUJWXMFWJMJQI9MJIN[NIJSIUWTUTXJIG^YMJ'TFWITK)NWJHYTWXNXXZGOJHYYTYMJFUUWT[FQTK YMJ8MFWJMTQIJWXNSYMJ&SSZFQ,JSJWFQ2JJYNSLJ]HJUYNSHFXJTKNSYJWNRIN[NIJSI.SYMJJ[JSYTKQNVZNIFYNTSYMJ XMFWJMTQIJWXFWJJQNLNGQJYTWJHJN[JYMJWJRFNSNSLFXXJYXTKYMJ(TRUFS^FKYJWINXYWNGZYNTSTKFQQUWJKJWJSYNFQFRTZSYX in proportion to their shareholding. N :OHYLOVSKLYZOVSKPUNTVYL[OHU ZOHYLZPU[OL*VTWHU`! 4HYJO 2FWHM Particulars 5VVM % 3TTK Shares 8MFWJX ,X\P[`ZOHYLZ ,TIWJO.SIZXYWNJX1NRNYJI 56.67% O ,X\P[`:OHYLZHSSV[[LKHZM\SS`WHPK\W^P[OV\[WH`TLU[ILPUNYLJLP]LKPUJHZO 4HYJO Particulars 5VVM INR Shares (In Crore) ,X\P[`:OHYLZ! ,TIWJO.SIZXYWNJX1NRNYJI 9MJ(TRUFS^MFXSTYFQQTYYJIFS^JVZNY^XMFWJXFXKZQQ^UFNIZU\NYMTZYUF^RJSYGJNSLWJHJN[JINSHFXMNSUWJHJINSLÁ[J ^JFWXTYMJWYMFSYMTXJINXHQTXJIFGT[J 211 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18 GODREJ PROPERTIES LIMITED NOTES FORMING PART OF CONSOLIDATED FINANCIAL STATEMENTS (Currency in INR Crore) P ,X\P[`:OHYLZ9LZLY]LKMVY0ZZ\L 4HYJO 2FWHM Particulars 5VVM INR 3TTK .37 Shares (in Crore) 8MFWJX NS(WTWJ N *RUQT^JJ 8YTHP ,WFSYX JQNLNGQJ KTW JVZNY^ XMFWJXTK.37JFHM[JXYNSLTS2F^ NN *RUQT^JJ8YTHP,WFSYXJQNLNGQJKTW JVZNY^XMFWJXTK INR 5/- each vesting on October 31, 2017 NNN *RUQT^JJ 8YTHP ,WFSYX JQNLNGQJ KTW JVZNY^ XMFWJX TK .37 JFHM TZY TK \MNHM NX [JXYNSL TS 2F^ N[ *RUQT^JJ 8YTHP ,WFSYX JQNLNGQJ KTW JVZNY^ 0.00 XMFWJX TK .37 JFHM TZY TK \MNHM NX [JXYNSL TS2F^ [ *RUQT^JJ 8YTHP ,WFSYX JQNLNGQJ KTW JVZNY^ 0.00 XMFWJX TK .37 JFHM TZY TK \MNHM NX [JXYNSL TS August 31, 2018 [N *RUQT^JJ8YTHP,WFSYXJQNLNGQJKTW JVZNY^XMFWJXTK 706 0.00 .37JFHMTZYTK\MNHM NX[JXYNSLTS/FSZFW^ [NN *RUQT^JJ 8YTHP ,WFSYX JQNLNGQJ KTW JVZNY^ XMFWJX TK .37 JFHM TZY TK \MNHM NX [JXYNSL TS /ZSJ FSINX[JXYNSLTS/ZSJ [NNN *RUQT^JJ8YTHP,WFSYXJQNLNGQJKTW JVZNY^XMFWJX 0.00 TK.37JFHMTZYTK\MNHM NX[JXYNSLTS/FSZFW^ FSI NX[JXYNSLTS/FSZFW^ N] *RUQT^JJ8YTHP,WFSYXJQNLNGQJKTW JVZNY^XMFWJXTK 0.00 .37JFHMTZYTK\MNHMNX[JXYNSLTS2FWHM and 204 is vesting on March 01, 2020 ] *RUQT^JJ 8YTHP ,WFSYX JQNLNGQJ KTW JVZNY^ XMFWJXTK.37JFHMTZYTK\MNHM NX[JXYNSLTS2F^ NX[JXYNSLTS2F^ FSI NX [JXYNSLTS2F^ ]N *RUQT^JJ8YTHP,WFSYXJQNLNGQJKTW JVZNY^XMFWJX 0.00 TK .37 JFHM TZY TK \MNHM NX [JXYNSL TS /ZSJ NX[JXYNSLTS/ZSJ FSI NX[JXYNSLTS /ZSJ .37WJUWJXJSYXFRTZSYQJXXYMFS.37 212 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18 NOTES FORMING PART OF CONSOLIDATED FINANCIAL STATEMENTS (Currency in INR Crore) 6[OLY,X\P[` 4HYJO 2FWHM N (FUNYFQ7JXJW[J 7JKJW3TYJ FGJQT\ 7.20 NN (FUNYFQ7JXJW[JTS&HHTZSYTK&RFQLFRFYNTS 7JKJW3TYJ GGJQT\ NNN 8JHZWNYNJX5WJRNZR 7JKJW3TYJ HGJQT\ N[ )JGJSYZWJ7JIJRUYNTS7JXJW[J 7JKJW3TYJ IGJQT\ 50.00 [ *RUQT^JJ8YTHP,WFSY8HMJRJ7JXJW[J 7JKJW3TYJ JGJQT\ [N 7JYFNSJI*FWSNSLX 7JKJW3TYJ KGJQT\ [NN 9WJFXZW^8MFWJX 7JKJW3TYJ LGJQT\ [NNN *]HMFSLJINKKJWJSHJXTSYWFSXQFYNSLYMJÁSFSHNFQXYFYJRJSYXTKF KTWJNLSTUJWFYNTS 7JKJW3TYJ MGJQT\ H *HWP[HS9LZLY]L 5WTÁYTSXFQJTKYWJFXZW^XMFWJXMJQIG^YMJ*845YWZXYNXWJHTLSNXJINS(FUNYFQWJXJW[J I *HWP[HS9LZLY]LVU(JJV\U[VM(THSNHTH[PVU )ZWNSLFRFQLFRFYNTSYMJJ]HJXXTKSJYFXXJYXYFPJST[JWYMJHTXYTKHTSXNIJWFYNTSUFNINXYWJFYJIFXHFUNYFQWJXJW[J TSFHHTZSYTKFRFQLFRFYNTS J :LJ\YP[PLZ7YLTP\T 8JHZWNYNJXUWJRNZRWJXJW[JNXZXJIYTWJHTWIYMJUWJRNZRWJHJN[JITSNXXZJTKXMFWJX.YNXZYNQNXJINSFHHTWIFSHJ\NYM YMJUWT[NXNTSXTKYMJ&HY K +LILU[\YL9LKLTW[PVU9LZLY]L 9MJ ,WTZU MFX NXXZJI WJIJJRFGQJ STSHTS[JWYNGQJ IJGJSYZWJX &HHTWINSLQ^ YMJ (TRUFSNJX 8MFWJ HFUNYFQ FSI )JGJSYZWJX7ZQJX FXFRJSIJIWJVZNWJXYMJ,WTZUYTHWJFYJ)JGJSYZWJ7JIJRUYNTS7JXJW[JTZYTKUWTÁYXTK YMJ,WTZUF[FNQFGQJKTWUF^RJSYTKIN[NIJSI L ,TWSV`LL:[VJR.YHU[:JOLTL9LZLY]L 9MJKFNW[FQZJTKYMJJVZNY^XJYYQJIXMFWJGFXJIUF^RJSYYWFSXFHYNTSX\NYMJRUQT^JJXNSHQZINSLPJ^RFSFLJRJSY UJWXTSSJQNXWJHTLSNXJINSYMJ(TSXTQNIFYJI8YFYJRJSYTK5WTÁYFSI1TXX\NYMHTWWJXUTSINSLHWJINYYT*RUQT^JJ 8YTHP,WFSY8HMJRJ7JXJW[J M 9L[HPULK,HYUPUNZ 7JYFNSJIJFWSNSLXFWJYMJUWTÁYXYMFYYMJ,WTZUMFXJFWSJIYNQQIFYJQJXXFS^YWFSXKJWXYTLJSJWFQWJXJW[JIJGJSYZWJ redemption reserve, dividends or other distributions paid to shareholders. N ;YLHZ\Y`:OHYLZ 9MJ (TRUFS^ YWJFYX *845 YWZXY FX NYX J]YJSXNTS FSI XMFWJX MJQI G^ *845 YWZXY FWJ YWJFYJI FX YWJFXZW^ XMFWJX 9WJFXZW^XMFWJXFWJWJHTLSNXJIFYHTXYFSIIJIZHYJIKWTRJVZNY^ O ,_JOHUNLKPMMLYLUJLZVU[YHUZSH[PUN[OLÂUHUJPHSZ[H[LTLU[ZVMHMVYLPNUVWLYH[PVU *]HMFSLJINKKJWJSHJXFWNXNSLTSYWFSXQFYNTSTKYMJKTWJNLSTUJWFYNTSXFWJWJHTLSNXJINSTYMJWHTRUWJMJSXN[JNSHTRJ FSIFHHZRZQFYJINSFXJUFWFYJWJXJW[J\NYMNSJVZNY^9MJHZRZQFYN[JFRTZSYNXWJHQFXXNÁJIYTUWTÁYTWQTXX\MJSYMJ SJYNS[JXYRJSYNXINXUTXJITKK 213 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18 GODREJ PROPERTIES LIMITED NOTES FORMING PART OF CONSOLIDATED FINANCIAL STATEMENTS (Currency in INR Crore) )VYYV^PUNZ5VU*\YYLU[ 4H[\YP[` ;LYTZVM 4HYJO 2FWHM Particulars Date YLWH`TLU[ Secured Loan -YVT6[OLYZ 9JWR1TFS 7JKJW3TYJ FGJQT\ (a) 8JHZWJIYJWRQTFS 9TYFQ8FSHYNTSJIFRTZSYTK.37(WTWJGJFWNSLNSYJWJXY%(517RNSZX '58FSIXJHZWJIG^ \F^TKJ]HQZXN[JRTWYLFLJFSIHMFWLJTKRT[FGQJFSINRRT[FGQJUWTUJWY^WNLMYYNYQJNSYJWJXYNSYMJIJXNLSFYJIFHHTZSY JXHWT\FHHTZSYFSIWJHJN[FGQJXTKYMJUWTOJHYXNYZFYJIFY'FSIWF0ZWQF(TRUQJ]FY2ZRGFNFSIUQJILJTK TKJVZNY^ XMFWJXTK,TIWJO'ZNQIHTS5WN[FYJ1NRNYJIMJQIG^YMJ(TRUFS^ )ZWNSLYMJ^JFWYMJYJWRQTFSMFXGJJSWJUFNI 7YV]PZPVUZ5VU*\YYLU[ 4HYJO 2FWHM 7YV]PZPVUMVY,TWSV`LL)LULÂ[Z ,WFYZNY^ )VYYV^PUNZ*\YYLU[ Interest Rate 4HYJO 2FWHM Secured Loans -YVT)HURZ 214 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18 NOTES FORMING PART OF CONSOLIDATED FINANCIAL STATEMENTS (Currency in INR Crore) F 8JHZWJI 4HYJO 2FWHM )ZJXYT2NHWTFSI8RFQQ*SYJWUWNXJX 4YMJWX )NXHQTXZWJTKTZYXYFSINSLIZJXTK2NHWTFSI8RFQQ*SYJWUWNXJZSIJW9WFIJ5F^FGQJXNXGFXJITSYMJNSKTWRFYNTSF[FNQFGQJ \NYMYMJ,WTZUWJLFWINSLYMJXYFYZXTKYMJXZUUQNJWXFXIJÁSJIZSIJWYMJ2NHWT8RFQQFSI2JINZR*SYJWUWNXJX)J[JQTURJSY Act, 2006. There is no undisputed amount overdue as on March 31, 2018 and March 31, 2017, to Micro, Small and Medium *SYJWUWNXJXTSFHHTZSYTKUWNSHNUFQTWNSYJWJXY 6[OLY*\YYLU[-PUHUJPHS3PHIPSP[PLZ .SYJWJXYUF^FGQJ :SHQFNRJI+N]JI)JUTXNYXFSI.SYJWJXY 0.79 :SHQFNRJI)N[NIJSI )JUTXNYX4YMJWX &I[FSHJ8MFWJTK5WTÁYKWTR/TNSY;JSYZWJX *RUQT^JJ'JSJÁYX5F^FGQJ 66.27 4YMJW1NFGNQNYNJX 6[OLY*\YYLU[5VU-PUHUJPHS3PHIPSP[PLZ 8YFYZYTW^)ZJX &I[FSHJX7JHJN[JI&LFNSXY8FQJTK+QFYX:SNYX 4YMJWQNFGNQNYNJX 215 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18 GODREJ PROPERTIES LIMITED NOTES FORMING PART OF CONSOLIDATED FINANCIAL STATEMENTS (Currency in INR Crore) 7YV]PZPVUZ*\YYLU[ 4HYJO 2FWHM 7YV]PZPVUMVY,TWSV`LL)LULÂ[Z ,WFYZNY^ Compensated Absences 4YMJWX 7JKJW3TYJ FGJQT\ F 4YMJWXNSHQZIJUWT[NXNTSRFIJIZWNSLYMJ^JFWKTW1JLFQ(FXJX9MJXFRJNXJ]UJHYJIYTGJXJYYQJINS>JFWX 9L]LU\LMYVT6WLYH[PVUZ 8FQJTK7JFQ*XYFYJ)J[JQTURJSY 6[OLY6WLYH[PUN9L]LU\LZ 8FQJTK8JW[NHJX 4YMJW.SHTRJKWTR(ZXYTRJWX Lease Rent 6[OLY0UJVTL Interest Income 5WTÁYTS8FQJTK5WTUJWY^5QFSYFSI*VZNURJSY 3JY .SHTRJKWTR.S[JXYRJSYRJFXZWJIFY+;951 5WTÁYTS8FQJTK.S[JXYRJSYX 3JY Miscellaneous Income 2.67 *VZ[VM:HSLZ 6WLUPUN:[VJR! Finished Goods (TSXYWZHYNTS 216 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18 NOTES FORMING PART OF CONSOLIDATED FINANCIAL STATEMENTS (Currency in INR Crore) 4HYJO 2FWHM 1JXX 9WFSXKJWWJIYT5WTUJWY^5QFSYFSI*VZNURJSY 1JXX 9WFSXKJWWJIYT.S[JXYRJSY5WTUJWY^ 2.59 1JXX 9WFSXKJWWJIYT(FUNYFQ ,TWSV`LL)LULÂ[Z,_WLUZL 8FQFWNJX'TSZX,WFYZNY^FSI&QQT\FSHJX Contribution to Provident and Other Funds 8MFWJ'FXJI5F^RJSYXYT*RUQT^JJX 8YFKK Interest Expense Interest on Income Tax Total Interest Expense Other Borrowing costs Total Finance Costs 1JXX 9WFSXKJWWJIYT(TSXYWZHYNTS\TWPNSUWTLWJXXFSI(FUNYFQ \TWPNSUWTLWJXX 1JXX 7JHT[JW^TK+NSFSHJ(TXY Net Finance Costs +LWYLJPH[PVUHUK(TVY[PZH[PVU,_WLUZL )JUWJHNFYNTSTS5WTUJWY^5QFSYFSI*VZNURJSY )JUWJHNFYNTSTS.S[JXYRJSY5WTUJWY^ &RTWYNXFYNTSTK.SYFSLNGQJ&XXJYX 217 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18 GODREJ PROPERTIES LIMITED NOTES FORMING PART OF CONSOLIDATED FINANCIAL STATEMENTS (Currency in INR Crore) 6[OLY,_WLUZLZ 4HYJO 2FWHM (TSXZQYFSH^(MFWLJX Rent Insurance Rates and Taxes 9.50 &I[JWYNXJRJSYFSI2FWPJYNSL*]UJSXJ Other Expenses ,HYUPUNZ7LY:OHYL a) Basic Earnings Per Share 9MJHFQHZQFYNTSTKGFXNHJFWSNSLXUJWXMFWJNXGFXJITSYMJUWTÁYFYYWNGZYFGQJYTTWINSFW^XMFWJMTQIJWXFSI\JNLMYJI F[JWFLJSZRGJWTKTWINSFW^XMFWJXTZYXYFSINSL (i) 7YVÂ[H[[YPI\[HISL[VVYKPUHY`ZOHYLOVSKLYZIHZPJ 5WTÁYKTWYMJ^JFWFYYWNGZYFGQJYTTWINSFW^XMFWJMTQIJWXTKYMJ (TRUFS^ (ii) >LPNO[LKH]LYHNLU\TILYVMVYKPUHY`ZOHYLZIHZPJ 3ZRGJWTK*VZNY^8MFWJXFYYMJGJLNSSNSLTKYMJ^JFW 1JXX *KKJHYTKYWJFXZW^XMFWJXMJQI &II *KKJHYTKXMFWJTUYNTSXJ]JWHNXJI Basic Earnings Per Share (INR) I +PS\[LK,HYUPUNZ7LY:OHYL 9MJHFQHZQFYNTSTKINQZYJIJFWSNSLXUJWXMFWJNXGFXJITSYMJUWTÁYFYYWNGZYFGQJYTTWINSFW^XMFWJMTQIJWXFSI\JNLMYJI F[JWFLJSZRGJWTKTWINSFW^XMFWJXTZYXYFSINSLFKYJWFIOZXYRJSYKTWYMJJKKJHYXTKFQQINQZYN[JUTYJSYNFQTWINSFW^XMFWJX (i) 7YVÂ[H[[YPI\[HISL[VVYKPUHY`ZOHYLOVSKLYZKPS\[LK 5WTÁYKTWYMJ^JFWFYYWNGZYFGQJYTTWINSFW^XMFWJMTQIJWXTKYMJ (TRUFS^ (ii) >LPNO[LKH]LYHNLU\TILYVMVYKPUHY`ZOHYLZKPS\[LK Diluted Earnings Per Share (INR) 218 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18 NOTES FORMING PART OF CONSOLIDATED FINANCIAL STATEMENTS (Currency in INR Crore) ,TWSV`LLILULÂ[Z H +LÂULK*VU[YPI\[PVU7SHUZ! (TSYWNGZYNTSYT)JÁSJI(TSYWNGZYNTS5QFSXWJHTLSNXJIFXJ]UJSXJKTWYMJ^JFWFWJFXZSIJW Particulars 4HYJO 2FWHM *RUQT^JW X(TSYWNGZYNTSYT5WT[NIJSY+ZSI ,WTXXGJKTWJ&QQTHFYNTS *RUQT^JW X(TSYWNGZYNTSYT*8.( 0.00 I +LÂULK)LULÂ[7SHUZ! *VU[YPI\[PVU[V.YH[\P[`-\UK5VU-\UKLK ,WFYZNY^NXUF^FGQJYTFQQJQNLNGQJJRUQT^JJXTSIJFYMTWTSXJUFWFYNTSYJWRNSFYNTSNSYJWRXTKYMJUWT[NXNTSXTKYMJ 5F^RJSYTK,WFYZNY^&HYTWFXUJWYMJ,WTZU¸XUTQNH^\MNHMJ[JWNXGJSJÁHNFQYTYMJJRUQT^JJX 9MJ JXYNRFYJX TK KZYZWJ XFQFW^ NSHWJFXJX HTSXNIJWJI NS FHYZFWNFQ [FQZFYNTS YFPJ NSYT FHHTZSY NSÂFYNTS XJSNTWNY^ UWTRTYNTSFSITYMJWWJQJ[FSYKFHYTWXXZHMFXXZUUQ^FSIIJRFSINSYMJJRUQT^RJSYRFWPJY P *OHUNLPUWYLZLU[]HS\LVMKLÂULKILULÂ[VISPNH[PVU 5WJXJSY[FQZJTKTGQNLFYNTSFXFYGJLNSSNSLTKYMJ^JFW 6.66 Interest Cost 0.52 Current Service Cost 'JSJÁYX5FNI *KKJHYTK1NFGNQNY^9WFSXKJWNS 0.02 *KKJHYTK1NFGNQNY^9WFSXKJWTZY Actuarial (gains)/ losses on obligations - due to change in demographic assumptions Actuarial (gains)/ losses on obligations - due to change in ÁSFSHNFQFXXZRUYNTSX Actuarial (gains) / losses on obligations - due to change 0.55 in experience 5WJXJSY[FQZJTKTGQNLFYNTSFXFYYMJJSITKYMJ^JFW PP (TV\U[YLJVNUPZLKPU[OL*VUZVSPKH[LK)HSHUJL:OLL[ 5WJXJSY[FQZJTKTGQNLFYNTSFXFYJSITKYMJ^JFW +FNW[FQZJTKUQFSFXXJYXFXFYJSITKYMJ^JFW 3JYTGQNLFYNTSFXFYJSITKYMJ^JFW .37WJUWJXJSYXFRTZSYQJXXYMFS.37 219 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18 GODREJ PROPERTIES LIMITED NOTES FORMING PART OF CONSOLIDATED FINANCIAL STATEMENTS (Currency in INR Crore) PPP 5L[NYH[\P[`JVZ[MVY[OL`LHYLUKLK Particulars 4HYJO 2FWHM 9LJVNUPZLKPU[OL*VUZVSPKH[LK:[H[LTLU[VM7YVÂ[ and Loss Current Service Cost Interest Cost 0.52 Total 9LJVNUPZLKPU6[OLY*VTWYLOLUZP]L0UJVTL6*0 Remeasurements due to: Actuarial (gains)/losses on obligations - due to change in demographic assumptions Actuarial (gains)/losses on obligations - due to change in ÁSFSHNFQFXXZRUYNTSX Actuarial (gains)/losses on obligations - due to change 0.55 in experience Total 5L[NYH[\P[`JVZ[PU;V[HS*VTWYLOLUZP]L0UJVTL 6.27 P] ;OL7YPUJPWHSHZZ\TW[PVUZ\ZLKPUKL[LYTPUPUN[OLWYLZLU[]HS\LVMKLÂULKILULÂ[VISPNH[PVUMVY[OL.YV\WºZ WSHUHYLNP]LUILSV^! Discount rate 8FQFW^*XHFQFYNTSWFYJ Attrition Rate -VYZLY]PJL`LHYZHUK ILSV^ WH -VY ZLY]PJL `LHYZHUK HIV]L WH 2TWYFQNY^ 0UKPHU(ZZ\YLK3P]LZ .SINFS&XXZWJI1N[JX 4VY[HSP[` 2TWYFQNY^ 220 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18 NOTES FORMING PART OF CONSOLIDATED FINANCIAL STATEMENTS (Currency in INR Crore) ] :LUZP[P]P[`HUHS`ZPZ &VZFSYNYFYN[JXJSXNYN[NY^FSFQ^XNXTS)JÁSJI'JSJÁY4GQNLFYNTSKTWXNLSNÁHFSYFXXZRUYNTSXFXFY2FWHM NX shown below: 4HYJO 2FWHM Particulars Increase Decrease .SHWJFXJ )JHWJFXJ Discount Rate (1% movement) 8FQFW^JXHFQFYNTSWFYJ RT[JRJSY Attrition Rate (1% movement) 9MJXJSXNYN[NY^FSFQ^XNXUWJXJSYJIFGT[JRF^STYGJWJUWJXJSYFYN[JTKYMJFHYZFQHMFSLJNSYMJIJÁSJIGJSJÁYTGQNLFYNTS FXNYNXZSQNPJQ^YMFYYMJHMFSLJNSFXXZRUYNTSX\TZQITHHZWNSNXTQFYNTSTKTSJFSTYMJWFXXTRJTKYMJFXXZRUYNTSXRF^ GJHTWWJQFYJI+ZWYMJWRTWJNSUWJXJSYNSLYMJFGT[JXJSXNYN[NY^FSFQ^XNXYMJUWJXJSY[FQZJTKYMJIJÁSJIGJSJÁYTGQNLFYNTS MFXGJJSHFQHZQFYJIZXNSLYMJUWTOJHYJIZSNYHWJINYRJYMTIFYYMJJSITKYMJWJUTWYNSLUJWNTI\MNHMNXYMJXFRJFXYMFY FUUQNJINSHFQHZQFYNSLYMJIJÁSJIGJSJÁYTGQNLFYNTSQNFGNQNY^WJHTLSNXJINSYMJGFQFSHJXMJJY9MJWJ\FXSTHMFSLJNSYMJ RJYMTIXFSIFXXZRUYNTSXZXJINSUWJUFWNSLYMJXJSXNYN[NY^FSFQ^XNXKWTRUWNTW^JFW ]P ;OLL_WLJ[LKM\[\YLJHZOÃV^ZPUYLZWLJ[VMNYH[\P[`HZH[4HYJO ^LYLHZMVSSV^Z! 2FYZWNY^&SFQ^XNXTK5WTOJHYJI'JSJÁY4GQNLFYNTS +WTRYMJ*RUQT^JW 7YVQLJ[LK)LULÂ[Z7H`HISLPU-\[\YL@LHYZMYVT[OL 4HYJO 2FWHM Reporting Date XY+TQQT\NSL>JFW 0.26 SI+TQQT\NSL>JFW WI+TQQT\NSL>JFW YM+TQQT\NSL>JFW YM+TQQT\NSL>JFW 8ZRTK>JFWXYT *VTWLUZH[LKHIZLUJLZ (TRUJSXFYJIFGXJSHJXKTWJRUQT^JJGJSJÁYXTK.37 (WTWJ 5WJ[NTZX>JFW .37 (WTWJJ]UJHYJIYTGJUFNI NSJ]HMFSLJKTWYMJXJW[NHJXWJHTLSNXJIFXFSJ]UJSXJIZWNSLYMJ^JFW -PUHUJPHSPUZ[Y\TLU[Zµ-HPY]HS\LZHUKYPZRTHUHNLTLU[ H (JJV\U[PUNJSHZZPÂJH[PVUHUKMHPY]HS\LZ 9MJKTQQT\NSLYFGQJXMT\XYMJHFWW^NSLFRTZSYXFSIKFNW[FQZJXTKÁSFSHNFQFXXJYXFSIÁSFSHNFQQNFGNQNYNJXNSHQZINSLYMJNW QJ[JQXNSYMJKFNW[FQZJMNJWFWHM^.YITJXSTYNSHQZIJKFNW[FQZJNSKTWRFYNTSKTWÁSFSHNFQFXXJYXFSIÁSFSHNFQQNFGNQNYNJXSTY RJFXZWJIFYKFNW[FQZJNKYMJHFWW^NSLFRTZSYNXFWJFXTSFGQJFUUWT]NRFYNTSTKKFNW[FQZJ 221 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18 GODREJ PROPERTIES LIMITED NOTES FORMING PART OF CONSOLIDATED FINANCIAL STATEMENTS (Currency in INR Crore) *HYY`PUNHTV\U[ -HPY]HS\L -HPY]HS\L 4HYJO through (TVY[PZLK Total 3L]LS 3L]LS 3L]LS Total WYVÂ[VY Cost loss Financial Assets 5VU*\YYLU[ .S[JXYRJSYNS5WJKJWJSHJ Shares 4YMJW.S[JXYRJSYX .S[JXYRJSYNS)JGJSYZWJX .S[JXYRJSYNS*VZNY^ 0.00 0.00 0.00 0.00 .SXYWZRJSYX 1TFSX 4YMJW3TS(ZWWJSY+NSFSHNFQ Assets Current Investments 9WFIJWJHJN[FGQJX (FXMFSIHFXMJVZN[FQJSYX 'FSPGFQFSHJXTYMJWYMFS above 1TFSX 4YMJW(ZWWJSY+NSFSHNFQ Assets -PUHUJPHS3PHIPSP[PLZ 5VU*\YYLU[ 'TWWT\NSLX 500.00 500.00 Current 'TWWT\NSLX 9WFIJ5F^FGQJX 4YMJW(ZWWJSY+NSFSHNFQ 1NFGNQNYNJX INR 0.00 represents amount less than INR 50,000 222 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18 NOTES FORMING PART OF CONSOLIDATED FINANCIAL STATEMENTS (Currency in INR Crore) *HYY`PUNHTV\U[ -HPY]HS\L -HPY]HS\L 4HYJO through (TVY[PZLK Total 3L]LS 3L]LS 3L]LS Total WYVÂ[HUK Cost loss Financial Assets 5VU*\YYLU[ .S[JXYRJSYNS5WJKJWJSHJ Shares 4YMJW.S[JXYRJSYX .S[JXYRJSYNS)JGJSYZWJX .S[JXYRJSYNS*VZNY^ 0.00 0.00 0.00 0.00 .SXYWZRJSYX 1TFSX 4YMJW3TS(ZWWJSY+NSFSHNFQ Assets Current Investments 9WFIJWJHJN[FGQJX (FXMFSIHFXMJVZN[FQJSYX 66.06 66.06 'FSPGFQFSHJXTYMJWYMFS above 1TFSX 4YMJW(ZWWJSY+NSFSHNFQ Assets -PUHUJPHS3PHIPSP[PLZ 5VU*\YYLU[ 'TWWT\NSLX Current 'TWWT\NSLX 9WFIJ5F^FGQJX 4YMJW(ZWWJSY+NSFSHNFQ 1NFGNQNYNJX I 4LHZ\YLTLU[VM-HPY=HS\L N 9MJKFNW[FQZJXTKNS[JXYRJSYXNSRZYZFQKZSIZSNYXNXGFXJITSYMJSJYFXXJY[FQZJ ·3&;¸FXXYFYJIG^YMJNXXZJWX TKYMJXJRZYZFQKZSIZSNYXNSYMJUZGQNXMJIXYFYJRJSYXFXFY'FQFSHJ8MJJYIFYJ3&;WJUWJXJSYXYMJUWNHJFY \MNHMYMJNXXZJW\NQQNXXZJKZWYMJWZSNYXTKRZYZFQKZSIFSIYMJUWNHJFY\MNHMNXXZJWX\NQQWJIJJRXZHMZSNYXKWTR the investors. NN 9MJ ,WTZU ZXJX YMJ )NXHTZSYJI (FXM +QT\ [FQZFYNTS YJHMSNVZJ NS WJQFYNTS YT ÁSFSHNFQ FXXJYX RJFXZWJI FY FRTWYNXJIHTXYFSIKFNW[FQZJYMWTZLMUWTÁYTWQTXX\MNHMNS[TQ[JXIJYJWRNSFYNTSTKUWJXJSY[FQZJTKJ]UJHYJI WJHJNUYUF^RJSYINXHTZSYJIZXNSLFUUWTUWNFYJINXHTZSYNSLWFYJX9MJKFNW[FQZJXTIJYJWRNSJIFWJHQFXXNÁJIFX Level 2. .37WJUWJXJSYXFRTZSYQJXXYMFS.37 223 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18 GODREJ PROPERTIES LIMITED NOTES FORMING PART OF CONSOLIDATED FINANCIAL STATEMENTS (Currency in INR Crore) J 9PZR4HUHNLTLU[-YHTL^VYR 9MJ(TRUFS^¸X'TFWITK)NWJHYTWXMF[JT[JWFQQWJXUTSXNGNQNY^KTWYMJJXYFGQNXMRJSYFSIT[JWXNLMYTKYMJ(TRUFS^¸X WNXPRFSFLJRJSYKWFRJ\TWP9MJ'TFWITK)NWJHYTWXMF[JJXYFGQNXMJIYMJ7NXP2FSFLJRJSY(TRRNYYJJ\MNHMNX WJXUTSXNGQJKTWIJ[JQTUNSLFSIRTSNYTWNSLYMJ(TRUFS^¸XWNXPRFSFLJRJSYUTQNHNJX9MJHTRRNYYJJWJUTWYXWJLZQFWQ^ YTYMJ'TFWITK)NWJHYTWXTSNYXFHYN[NYNJX 9MJ(TRUFS^¸XWNXPRFSFLJRJSYUTQNHNJXFWJJXYFGQNXMJIYTNIJSYNK^FSIFSFQ^XJYMJWNXPXKFHJIG^YMJ(TRUFS^YT XJYFUUWTUWNFYJWNXPQNRNYXFSIHTSYWTQXFSIYTRTSNYTWWNXPXFSIFIMJWJSHJYTQNRNYX7NXPRFSFLJRJSYUTQNHNJXFSI X^XYJRXFWJWJ[NJ\JIWJLZQFWQ^YTWJÂJHYHMFSLJXNSRFWPJYHTSINYNTSXFSIYMJ(TRUFS^¸XFHYN[NYNJX9MJ(TRUFS^ through its training and management standards and procedures, aims to maintain a disciplined and constructive HTSYWTQJS[NWTSRJSYNS\MNHMFQQJRUQT^JJXZSIJWXYFSIYMJNWWTQJXFSITGQNLFYNTSX 9MJ&ZINY(TRRNYYJJT[JWXJJXMT\RFSFLJRJSYRTSNYTWXHTRUQNFSHJ\NYMYMJHTRUFS^¸XWNXPRFSFLJRJSYUTQNHNJX FSIUWTHJIZWJXFSIWJ[NJ\XYMJFIJVZFH^TKYMJWNXPRFSFLJRJSYKWFRJ\TWPNSWJQFYNTSYTYMJWNXPXKFHJIG^YMJ (TRUFS^ 9MJ &ZINY (TRRNYYJJ NX FXXNXYJI NS NYX T[JWXNLMY WTQJ G^ NSYJWSFQ FZINY .SYJWSFQ FZINY ZSIJWYFPJX GTYM WJLZQFWFSIFIMTHWJ[NJ\XTKWNXPRFSFLJRJSYHTSYWTQXFSIUWTHJIZWJXYMJWJXZQYXTK\MNHMFWJWJUTWYJIYTYMJ&ZINY Committee. K -PUHUJPHSYPZRTHUHNLTLU[ 9MJ,WTZUMFXJ]UTXZWJYTYMJKTQQT\NSLWNXPXFWNXNSLKWTRÁSFSHNFQNSXYWZRJSYX N (WJINY7NXP NN 1NVZNINY^7NXP NNN 2FWPJY7NXP (i) Credit risk (WJINYWNXPNXYMJWNXPTKÁSFSHNFQQTXXYTYMJ,WTZUNKFHZXYTRJWTWHTZSYJWUFWY^YTFÁSFSHNFQNSXYWZRJSYKFNQXYT RJJYNYXHTSYWFHYZFQTGQNLFYNTSXFSIFWNXJXUWNSHNUFQQ^KWTRYMJ,WTZU¸XWJHJN[FGQJXKWTRHZXYTRJWXNS[JXYRJSYX in debt securities, loans given to related parties and project deposits. 9MJHFWW^NSLFRTZSYTKÁSFSHNFQFXXJYXWJUWJXJSYXYMJRF]NRZRHWJINYJ]UTXZWJ ;YHKL9LJLP]HISLZ (ZXYTRJWHWJINYWNXPNXRFSFLJIG^WJVZNWNSLHZXYTRJWXYTUF^FI[FSHJXYMWTZLMUWTLWJXXGNQQNSLXGJKTWJYWFSXKJW TKT\SJWXMNUYMJWJKTWJXZGXYFSYNFQQ^JQNRNSFYNSLYMJ,WTZU¸XHWJINYWNXPNSYMNXWJXUJHY 9MJ,WTZU¸XHWJINYWNXP\NYMWJLFWIYTYWFIJWJHJN[FGQJMFXFMNLMIJLWJJTKWNXPIN[JWXNÁHFYNTSIZJYTYMJQFWLJ SZRGJWTKUWTOJHYXTK[FW^NSLXN_JXFSIY^UJX\NYMSZRJWTZXINKKJWJSYHZXYTRJWHFYJLTWNJXNSFQFWLJSZRGJWTK LJTLWFUMNHFQRFWPJYX &XUJWXNRUQNÁJIFUUWTFHMYMJ,WTZURFPJXUWT[NXNTSTKJ]UJHYJIHWJINYQTXXJXTSYWFIJWJHJN[FGQJXYTRNYNLFYJ 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-PUHUJPHS3PHIPSP[PLZ 5VU*\YYLU[ 'TWWT\NSLX 500.00 Current 'TWWT\NSLX 9WFIJ5F^FGQJX 277.95 4YMJW(ZWWJSY+NSFSHNFQ 227.20 0.57 1NFGNQNYNJX (TSYWFHYZFQHFXMÂT\X (FWW^NSL 2FWHM 225 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18 GODREJ PROPERTIES LIMITED NOTES FORMING PART OF CONSOLIDATED FINANCIAL STATEMENTS (Currency in INR Crore) (iii) Market Risk 2FWPJYWNXPNXYMJWNXPYMFYHMFSLJXNSRFWPJYUWNHJXXZHMFXKTWJNLSJ]HMFSLJWFYJFSINSYJWJXYWFYJX\NQQFKKJHYYMJ ,WTZU¸XNSHTRJTWYMJ[FQZJTKNYXMTQINSLXTKÁSFSHNFQNSXYWZRJSYX9MJTGOJHYN[JTKRFWPJYWNXPRFSFLJRJSYNXYT RFSFLJFSIHTSYWTQRFWPJYWNXPJ]UTXZWJX\NYMNSFHHJUYFGQJUFWFRJYJWX\MNQJTUYNRNXNSLYMJWJYZWS H *\YYLUJ`9PZR (ZWWJSH^ WNXP NX STY RFYJWNFQ FX YMJ ,WTZU¸X UWNRFW^ GZXNSJXX FHYN[NYNJX FWJ \NYMNS .SINF FSI ITJX STY MF[J XNLSNÁHFSYJ]UTXZWJNSKTWJNLSHZWWJSH^ I 0U[LYLZ[9H[L9PZR .SYJWJXYWFYJWNXPNXYMJWNXPYMFYYMJKFNW[FQZJTWKZYZWJHFXMÂT\XTKFÁSFSHNFQNSXYWZRJSY\NQQÂZHYZFYJGJHFZXJ TKHMFSLJXNSRFWPJYNSYJWJXYWFYJX9MJRFSFLJRJSYNXWJXUTSXNGQJKTWYMJRTSNYTWNSLTKYMJ,WTZU¸XNSYJWJXYWFYJ 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Particulars 5VVM6W[PVUZ >LPNO[LK(]LYHNL,_LYJPZL As at As at Price 4HYJO 2FWHM 4UYNTSX4ZYXYFSINSLFYYMJGJLNSSNSLTKYMJ^JFW .37 UQZXNSYJWJXYYNQQ2FWHM 4UYNTSXLWFSYJI 4UYNTSXJ]JWHNXJI 1JXX +TWKJNYJI1FUXJI.IQJ&[FNQFGQJKTW 7JNXXZJ 4UYNTSX4ZYXYFSINSLFYYMJJSITKYMJ^JFW .37 UQZXNSYJWJXYYNQQ2FWHM 227 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18 GODREJ PROPERTIES LIMITED NOTES FORMING PART OF CONSOLIDATED FINANCIAL STATEMENTS (Currency in INR Crore) 9MJ J]JWHNXJ UJWNTI TK YMJ ,51 *845 MFX J]UNWJI TS )JHJRGJW FSI HTSXJVZJSYQ^ FQQ YMJ ZSJ]JWHNXJI TUYNTSX\JWJWJSIJWJIQFUXJI9MJ,51*845ST\XYFSIXYJWRNSFYJIFSIYMJXMFWJXMJQIG^YMJ9WZXYMF[JGJJSXTQI IZWNSLYMJ^JFWJSIJI2FWHM ,TWSV`LL:[VJR.YHU[:JOLTL 9MJ(TRUFS^NSXYNYZYJIFS*RUQT^JJ8YTHP,WFSY8HMJRJ ,51*8,8FUUWT[JIG^YMJ'TFWITK)NWJHYTWXYMJ Shareholders and the Remuneration Committee. F )JYFNQXTK8YTHP,WFSYXFWJFXZSIJW Particulars 5VVM6W[PVUZ Weighted Weighted As at As at H]LYHNL,_LYJPZL H]LYHNL:OHYL 4HYJO 2FWHM Price (INR) Price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articulars 4HYJO 2FWHM +LZJYPW[PVUVM[OL0UW\[Z\ZLK )N[NIJSI^NJQI )N[NIJSI ^NJQI TK YMJ TUYNTSX NX GFXJITSWJHJSYIN[NIJSIFHYN[NY^ *]UJHYJI[TQFYNQNY^ *]UJHYJI[TQFYNQNY^TKYMJTUYNTSNX GFXJITSMNXYTWNHFQ[TQFYNQNY^IZWNSL F UJWNTI JVZN[FQJSY YT YMJ TUYNTS QNKJTKYMJTGXJW[JIRFWPJYUWNHJX TK YMJ (TRUFS^¸X UZGQNHQ^ YWFIJI JVZNY^XMFWJX 7NXPKWJJ.SYJWJXYWFYJ 7NXPKWJJ NSYJWJXY WFYJX FWJ GFXJI TSYMJLT[JWSRJSYXJHZWNYNJX^NJQI NSJKKJHYFYYMJYNRJTKYMJLWFSY *]UJHYJIQNKJTKXMFWJTUYNTSX [V`LHYZ YT^JFWX 228 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18 NOTES FORMING PART OF CONSOLIDATED FINANCIAL STATEMENTS (Currency in INR Crore) G 9MJ ,WTZU¸XXNLSNÁHFSY QJFXNSL FWWFSLJRJSYX FWJ NS WJXUJHY TK TUJWFYNSL QJFXJX KTW (TRRJWHNFQ UWJRNXJX 1JFXJ NSHTRJKWTRTUJWFYNSLQJFXJXNXWJHTLSNXJITSFXYWFNLMYQNSJGFXNXT[JWYMJUJWNTITKQJFXJ9MJKZYZWJRNSNRZRQJFXJ WJHJN[FGQJXTKSTSHFSHJQQFGQJTUJWFYNSLQJFXJXFWJFXZSIJW Particulars 4HYJO 2FWHM As a Lessor Future minimum lease receipts under operating leases 3TYQFYJWYMFS^JFW 1FYJWYMFS^JFWFSISTYQFYJWYMFS^JFWX 1FYJWYMFS^JFWX H 9MJ,WTZU¸XXNLSNÁHFSYQJFXNSLFWWFSLJRJSYXFWJNSWJXUJHYTKTUJWFYNSLQJFXJXKTW(TRRJWHNFQ7JXNIJSYNFQUWJRNXJX 1JFXJJ]UJSINYZWJKTWTUJWFYNSLQJFXJXNXWJHTLSNXJITSFXYWFNLMYQNSJGFXNXT[JWYMJUJWNTITKQJFXJ9MJXJQJFXNSL FWWFSLJRJSYXFWJSTSHFSHJQQFGQJHFSHJQQFGQJFSIFWJWJSJ\FGQJTSFUJWNTINHGFXNXG^RZYZFQHTSXJSYTSRZYZFQQ^ FHHJUYJIYJWRX9MJKZYZWJRNSNRZRQJFXJUF^RJSYXTKSTSHFSHJQQFGQJTUJWFYNSLQJFXJXFWJFXZSIJW As a Lessee +ZYZWJRNSNRZRQJFXJUF^RJSYXZSIJWTUJWFYNSLQJFXJX 3TYQFYJWYMFS^JFW 1FYJWYMFS^JFWFSISTYQFYJWYMFS^JFWX 1FYJWYMFS^JFWX 9LSH[LK7HY[`;YHUZHJ[PVUZ 9LSH[LK7HY[`+PZJSVZ\YLZ! 7JQFYJIUFWY^INXHQTXZWJXFXWJVZNWJIG^.SI&8µ7JQFYJI5FWY^)NXHQTXZWJX¶FWJLN[JSGJQT\ P /VSKPUNHUK 229 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18 GODREJ PROPERTIES LIMITED NOTES FORMING PART OF CONSOLIDATED FINANCIAL STATEMENTS iii) a) Associate ,TIWJO4SJ5WJRNXJX2FSFLJRJSY5WN[FYJ1NRNYJI PPP I 1VPU[=LU[\YLZ! ,TIWJO7JFQY^5WN[FYJ1NRNYJI ,TIWJO1FSIRFWP7JIJ[JQTUJWX5WN[FYJ1NRNYJI ,TIWJO7JIJ[JQTUJWX 2ZRGFN5WN[FYJ1NRNYJI 2TXNFH1FSIRFWPX115 )WJFR 230 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18 NOTES FORMING PART OF CONSOLIDATED FINANCIAL STATEMENTS (Currency in INR Crore) 8FN8WZXMYN4SJMZG5WTOJHYX115 \JK/FSZFW^ ,TIWJO.WNXRFWP115 \JK/FSZFW^ P] 2L`4HUHNLTLU[7LYZVUULSHUK[OLPYYLSH[P]LZ! 2W&IN',TIWJO 2W3',TIWJO 2W5NWTOXMF,TIWJO 2W2TMNY2FQMTYWF 2X5FWRJXM\FW&IN,TIWJO :UYT4HYTGJW 2W/FRXM^I3,TIWJO 2W&RNY(MTZIMZW^ 2W0')FINXJYM 2WX1FQNYF),ZUYJ 2W5WFSF^;FPNQ )W5WNYFR8NSLM 2W83FWF^FS :UYT&ZLZXY 2W&RNYF[F2ZPMJWOJJ 2X9FS^F)ZGFXM 2XY-TWRF_I3FINW,TIWJO ;OLMVSSV^PUN[YHUZHJ[PVUZ^LYLJHYYPLKV\[^P[O[OLYLSH[LKWHY[PLZPU[OLVYKPUHY`JV\YZLVMI\ZPULZZ P +L[HPSZYLSH[PUN[VWHY[PLZYLMLYYLK[VPUP[LTZPPPHUKPPPHIV]L 5H[\YLVM;YHUZHJ[PVU .VKYLQ )V`JL Godrej Other Related Associate Joint Total 4HU\MHJ[\YPUN Industries Parties in Godrej (iii) (a) Ventures *VTWHU` 3PTP[LKP Group (ii) PPPI 3PTP[LKP 5ZWHMFXJTK5WTUJWY^5QFSY FSI*VZNURJSY (ZWWJSY>JFW 5WJ[NTZX>JFW *]UJSXJXHMFWLJIG^TYMJW (TRUFSNJX*SYNYNJX (ZWWJSY>JFW 5WJ[NTZX>JFW &RTZSYUFNITSYWFSXKJWTK *RUQT^JJ 3JY (ZWWJSY>JFW 5WJ[NTZX>JFW 231 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18 GODREJ PROPERTIES LIMITED NOTES FORMING PART OF CONSOLIDATED FINANCIAL STATEMENTS (Currency in INR Crore) 5H[\YLVM;YHUZHJ[PVU .VKYLQ )V`JL Godrej Other Related Associate Joint Total 4HU\MHJ[\YPUN Industries Parties in Godrej (iii) (a) Ventures *VTWHU` 3PTP[LKP Group (ii) PPPI 3PTP[LKP 8FQJTK:SNYX (ZWWJSY>JFW 5WJ[NTZX>JFW .SHTRJ7JHJN[JIKWTRTYMJW (TRUFSNJX*SYNYNJX (ZWWJSY>JFW 5WJ[NTZX>JFW )J[JQTURJSY2FSFLJRJSY +JJX7JHJN[JI (ZWWJSY>JFW 5WJ[NTZX>JFW *]UJSXJXHMFWLJIYTTYMJW (TRUFSNJX*SYNYNJX (ZWWJSY>JFW 5WJ[NTZX>JFW .SYJWJXY.SHTRJTS)JGJSYZWJX (ZWWJSY>JFW 5WJ[NTZX>JFW .SYJWJXY.SHTRJ (ZWWJSY>JFW 5WJ[NTZX>JFW 8MFWJTK5WTÁY 1TXXNS/TNSY ;JSYZWJXFSI&XXTHNFYJ (ZWWJSY>JFW 5WJ[NTZX>JFW &RTZSYWJHJN[JITSYWFSXKJWTK JRUQT^JJ 3JY (ZWWJSY>JFW 5WJ[NTZX>JFW .37WJUWJXJSYXFRTZSYQJXXYMFS.37 232 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18 NOTES FORMING PART OF CONSOLIDATED FINANCIAL STATEMENTS (Currency in INR Crore) 5H[\YLVM;YHUZHJ[PVU .VKYLQ )V`JL Godrej Other Related Associate Joint Total 4HU\MHJ[\YPUN Industries Parties in Godrej (iii) (a) Ventures *VTWHU` 3PTP[LKP Group (ii) PPPI 3PTP[LKP (TRRNYRJSYX'FSP ,ZFWFSYJJ1(NXXZJI (TWUTWFYJ5JWKTWRFSHJ ,ZFWFSYJJ (ZWWJSY>JFW 5WJ[NTZX>JFW .S[JXYRJSYRFIJNS*VZNY^ 5WJKJWJSHJ8MFWJX (ZWWJSY>JFW 5WJ[NTZX>JFW .S[JXYRJSYRFIJNS115 X (ZWWJSY>JFW 5WJ[NTZX>JFW .S[JXYRJSYRFIJNS)JGJSYZWJX (ZWWJSY>JFW 5WJ[NTZX>JFW 8FQJTK.S[JXYRJSYX 7JUF^RJSYTK5FWYSJWX(FUNYFQ 7JIJRUYNTS8FQJTK )JGJSYZWJX (ZWWJSY>JFW 5WJ[NTZX>JFW &I[FSHJXLN[JS 9FPJS (ZWWJSY>JFW 5WJ[NTZX>JFW 1TFSXFSI&I[FSHJX7JUFNI (ZWWJSY>JFW 5WJ[NTZX>JFW )JUTXNYLN[JS (ZWWJSY>JFW 5WJ[NTZX>JFW )JUTXNYWJUFNI (ZWWJSY>JFW 5WJ[NTZX>JFW &RTZSYWJHJN[JIFLFNSXY8FQJ TK:SNYX (ZWWJSY>JFW 5WJ[NTZX>JFW INR 0.00 represents amount less than INR 50,000 233 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18 GODREJ PROPERTIES LIMITED NOTES FORMING PART OF CONSOLIDATED FINANCIAL STATEMENTS (Currency in INR Crore) 5H[\YLVM;YHUZHJ[PVU .VKYLQ )V`JL Godrej Other Related Associate Joint Total 4HU\MHJ[\YPUN Industries Parties in Godrej (iii) (a) Ventures *VTWHU` 3PTP[LKP Group (ii) PPPI 3PTP[LKP Balance Outstanding as on 4HYJO &RTZSY7JHJN[FGQJX (ZWWJSY>JFW 5WJ[NTZX>JFW :SGNQQJI7J[JSZJ (ZWWJSY>JFW 5WJ[NTZX>JFW &RTZSY5F^FGQJX (ZWWJSY>JFW 5WJ[NTZX>JFW )JUTXNY7JHJN[FGQJX (ZWWJSY>JFW 5WJ[NTZX>JFW &I[FSHJWJHJN[JIFLFNSXY 8MFWJTK5WTÁY (ZWWJSY>JFW 5WJ[NTZX>JFW )JGJSYZWJX4ZYXYFSINSL (ZWWJSY>JFW 5WJ[NTZX>JFW )JGJSYZWJ.SYJWJXY4ZYXYFSINSL (ZWWJSY>JFW 5WJ[NTZX>JFW (TRRNYRJSYX'FSP ,ZFWFSYJJ1(NXXZJI (TWUTWFYJ5JWKTWRFSHJ ,ZFWFSYJJ (ZWWJSY>JFW 5WJ[NTZX>JFW .SHQZIJX1TFSFRTZSYHTS[JWYJINSYT)JGJSYZWJX.373NQ(WTWJ 5WJ[NTZX>JFW .37(WTWJFSI*VZNY^.37 (WTWJ 5WJ[NTZX>JFW .37 (WTWJ 234 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18 NOTES FORMING PART OF CONSOLIDATED FINANCIAL STATEMENTS (Currency in INR Crore) PP +L[HPSZYLSH[PUN[VWHY[PLZYLMLYYLK[VPUP[LTZP]HIV]L Particulars 4HYJO 2FWHM 8MTWYYJWRJRUQT^JJGJSJÁYX 5TXYWJYNWJRJSYGJSJÁYX 8MFWJGFXJIUF^RJSYYWFSXFHYNTSX 0.69 ;V[HS*VTWLUZH[PVUWHPK[V2L`4HUHNLTLU[7LYZVUULS 7J[JSZJWJHTLSNXJIKTWXFQJTKÂFYXZSNYXYT025FSIYMJNWWJQFYN[JX &RTZSYWJHJN[JIKWTRXFQJTKÂFYXZSNYXYT025FSIYMJNWWJQFYN[JX 9WFIJWJHJN[FGQJ FI[FSHJTSFHHTZSYTKXFQJTKÂFYXZSNYXYT025FSI YMJNWWJQFYN[JX 8FQJTKFXXJYX :SGNQQJI7J[JSZJ *]UJSINYZWJTSNXXZJTKJVZNY^XMFWJXZSIJW*8,8YT025 *VU[PUNLU[3PHIPSP[PLZHUK*VTTP[TLU[Z H *VU[PUNLU[3PHIPSP[PLZ Matters 4HYJO 2FWHM 0 *SHPTZHNHPUZ[*VTWHU`UV[(JRUV^SLKNLKHZKLI[Z! N (QFNRX STY FHPST\QJILJI FX IJGYX WJUWJXJSY HFXJX ÁQJIG^UFWYNJXNSYMJ(TSXZRJWKTWZR(N[NQ(TZWYFSI -NLM(TZWYFSIINXUZYJIG^YMJ,WTZUFXFI[NXJIG^TZW FI[THFYJX.SYMJTUNSNTSTKYMJRFSFLJRJSYYMJHQFNRX are not sustainable NN (QFNRXZSIJWYMJ1FGTZW1F\XKTWINXUZYJIHFXJX iii) Claims under Stamp Acts N[ 4YMJW(QFNRXSTYFHPST\QJILJIFXIJGYX [ (QFNRXZSIJW.SHTRJ9F]&HY&UUJFQUWJKJWWJIYT9MJ )JUZY^ (TRRNXXNTSJW (TRRNXXNTSJW TK .SHTRJ 9F] (Appeals) [N (QFNRX ZSIJW 2;&9 &UUJFQ UWJKJWWJI YT 9MJ )JUZY^ (TRRNXXNTSJW/TNSY (TRRNXXNTSJW TK 8FQJX 9F]JX &UUJFQX.;;2ZRGFN [NN &UUJFQ UWJKJWWJI YT (ZXYTRX *]HNXJ FSI 8JW[NHJ 9F] Appellate tribunal at Bengaluru [NNN &UUJFQUWJKJWWJIYT9MJ/TNSY(TRRNXXNTSJWTK8FQJX9F] 0.77 &UUJFQ FY 2FMFWFXMYWF ZSIJW *SYW^ TK ,TTIX .SYT Local Areas Act, 2002 00 .\HYHU[LLZ! N ,ZFWFSYJJX LN[JS G^ 'FSP HTZSYJW LZFWFSYJJI G^ YMJ Group NN ,ZFWFSYJJX LN[JS G^ YMJ (TRUFS^ WJQFYNSL YT /TNSY ;JSYZWJ 235 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18 GODREJ PROPERTIES LIMITED NOTES FORMING PART OF CONSOLIDATED FINANCIAL STATEMENTS (Currency in INR Crore) I *VTTP[TLU[Z (i) Particulars 4HYJO 2FWHM (FUNYFQ (TRRNYRJSY YT NSHQZIJ KTW (<.5 ZSIJW (TSXYWZHYNTS (FUNYFQ(TRRNYRJSYYT\FWIX,TIWJO5WTUJWYNJX NNN 9MJ,WTZUMFXJSYJWJINSYTIJ[JQTURJSYFLWJJRJSYX\NYMT\SJWXTKQFSIKTWIJ[JQTURJSYTKUWTOJHYX:SIJWYMJ FLWJJRJSYXYMJ,WTZUNXWJVZNWJIYTUF^HJWYFNSUF^RJSYXIJUTXNYXYTYMJT\SJWXTKYMJQFSIFSIXMFWJNSGZNQYZU FWJFWJ[JSZJKWTRXZHMIJ[JQTURJSYXNSJ]HMFSLJTKZSIN[NIJIXMFWJNSQFSIFXXYNUZQFYJIZSIJWYMJFLWJJRJSYX -VYLPNU,_JOHUNL+PMMLYLUJL 9MJFRTZSYTKJ]HMFSLJINKKJWJSHJNSHQZIJINSYMJ(TSXTQNIFYJIXYFYJRJSYTKUWTÁYFSIQTXXNX.37 (WTWJ 3JY1TXX 5WJ[NTZX>JFW .37(WTWJ 3JYQTXX *VYWVYH[L:VJPHS9LZWVUZPIPSP[` 9MJ,WTZUMFXXUJSY.37 (WTWJIZWNSLYMJ^JFW 5WJ[NTZX>JFW .37 (WTWJFXUJWYMJUWT[NXNTSXTK8JHYNTS TKYMJ(TRUFSNJX&HYYT\FWIX(TWUTWFYJ8THNFQ7JXUTSXNGNQNY^ (87FHYN[NYNJXLWTZUJIZSIJW·4YMJW*]UJSXJX¸ F ,WTXXFRTZSYWJVZNWJIYTGJXUJSYG^YMJ,WTZUIZWNSLYMJ^JFW.37 (WTWJ 5WJ[NTZX>JFW .37 (WTWJ G &RTZSYXUJSYIZWNSLYMJ^JFWTS Particulars (TV\U[:WLU[ (TV\U[`L[[VIL Total in Cash paid in Cash (TV\U[ @LHYLUKLK4HYJO N (TSXYWZHYNTS&HVZNXNYNTSTKFS^&XXJY NN 4SUZWUTXJXTYMJWYMFS NFGT[J @LHYLUKLK4HYJO N (TSXYWZHYNTS&HVZNXNYNTSTKFS^&XXJY NN 4SUZWUTXJXTYMJWYMFS NFGT[J :LNTLU[9LWVY[PUN ( )HZPZVM:LNTLU[H[PVU -HJ[VYZ\ZLK[VPKLU[PM`[OLLU[P[`ºZYLWVY[HISLZLNTLU[ZPUJS\KPUN[OLIHZPZVMVYNHUPZH[PVU +TWRFSFLJRJSYUZWUTXJXYMJ,WTZUMFXTSQ^TSJWJUTWYFGQJXJLRJSYXSFRJQ^)J[JQTURJSYTKWJFQJXYFYJUWTUJWY^ 9MJ2FSFLNSL)NWJHYTWTKYMJ(TRUFS^FHYXFXYMJ(MNJK4UJWFYNSL)JHNXNTS2FPJW µ(4)2¶9MJ(4)2J[FQZFYJXYMJ ,WTZU¸XUJWKTWRFSHJFSIFQQTHFYJXWJXTZWHJXGFXJITSFSFSFQ^XNXTK[FWNTZXUJWKTWRFSHJNSINHFYTWX ) .LVNYHWOPJHS0UMVYTH[PVU 9MJLJTLWFUMNHNSKTWRFYNTSFSFQ^XJXYMJ,WTZU¸XWJ[JSZJFSI3TS(ZWWJSY&XXJYXG^YMJ,WTZU¸XHTZSYW^TKITRNHNQJ FSITYMJWHTZSYWNJX&XYMJ,WTZUNXJSLFLJINS)J[JQTURJSYTK7JFQ*XYFYJUWTUJWY^NS.SINFNYMFXTSQ^TSJWJUTWYFGQJ LJTLWFUMNHFQXJLRJSY 236 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18 NOTES FORMING PART OF CONSOLIDATED FINANCIAL STATEMENTS (Currency in INR Crore) * 0UMVYTH[PVUHIV\[THQVYJ\Z[VTLYZ 7J[JSZJKWTRTSJHZXYTRJWNX.37 (WTWJKTWYMJ^JFWJSIJI2FWHM 3TSJTKYMJHZXYTRJWXKTWYMJ^JFW JSIJI2FWHM HTSXYNYZYJI TWRTWJTKYMJYTYFQWJ[JSZJTKYMJ,WTZU (FXMFSI(FXM*VZN[FQJSYXFSI'FSP'FQFSHJXNSHQZIJXGFQFSHJXNS*XHWT\&HHTZSY\MNHMXMFQQGJZXJITSQ^KTWXUJHNÁJI UZWUTXJXFXIJÁSJIZSIJW7JFQ*XYFYJ 7JLZQFYNTSFSI)J[JQTURJSY&HY :WLJPÂLK)HUR5V[LZ+PZJSVZ\YL .SFHHTWIFSHJ\NYMYMJ3TYNÁHFYNTS3T,87 *NXXZJIG^YMJ2NSNXYW^TK(TWUTWFYJ&KKFNWXIFYJI2FWHM YMJIJYFNQXTK8UJHNÁJI'FSP3TYJX 8'3MJQIFSIYWFSXFHYJIIZWNSLYMJUJWNTI3T[JRGJW YT)JHJRGJW NXUWT[NIJINSYMJYFGQJGJQT\ &RTZSY.S.37 Particulars SBNs 6[OLY+LUVTPUH[PVU Total Notes *SVZPUNJHZOPUOHUKHZVU5V]LTILY &II 5JWRNYYJI7JHJNUYX 1JXX 5JWRNYYJI5F^RJSYX 1JXX &RTZSYIJUTXNYJINS'FSPX *SVZPUNJHZOPUOHUKHZVU+LJLTILY 50 Construction Contracts Particulars 4HYJO 2FWHM For contracts in progress as on the reporting date &LLWJLFYJ FRTZSY TK HTXYX NSHZWWJI FSI UWTÁY WJHTLSNXJI QJXX WJHTLSNXJI QTXXJXYTIFYJKTWUWTOJHYXNSUWTLWJXX 'FQFSHJTK&I[FSHJKWTRHZXYTRJWFXTSWJUTWYNSLIFYJ &RTZSYTK\TWPNSUWTLWJXXFSIYMJ[FQZJTKNS[JSYTWNJXFXTSYMJWJUTWYNSL date *]HJXXTKWJ[JSZJWJHTLSNXJIT[JWFHYZFQGNQQXWFNXJI :SGNQQJIWJ[JSZJ 9MJ\WNYJIT\STKNS[JSYTWNJXYTSJYWJFQNXFGQJ[FQZJIZWNSLYMJ^JFWFRTZSYJIYT.37 (WTWJ 5WJ[NTZX>JFW .37 (WTWJ 52 9MJ ÁLZWJX KTW YMJ UWJ[NTZX ^JFW MF[J GJJS WJLWTZUJI WJHQFXXNÁJI YT HTWWJXUTSI \NYM HZWWJSY ^JFW¸X HQFXXNÁHFYNTS INXHQTXZWJYMFYNSHQZIJHMFSLJXHTSXJVZJSYYTYMJNXXZFSHJTKµ,ZNIFSHJ3TYJTS)N[NXNTS...SI&88HMJIZQJ...YTYMJ (TRUFSNJX&HY¶ 5WJ[NTZX^JFW¸XÁLZWJX\JWJFZINYJIG^FÁWRTK(MFWYJWJI&HHTZSYFSYXTYMJWYMFS'87 (T115 237 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18 GODREJ PROPERTIES LIMITED NOTES FORMING PART OF CONSOLIDATED FINANCIAL STATEMENTS 0UMVYTH[PVUVU:\IZPKPHYPLZ1VPU[=LU[\YLZHUK(ZZVJPH[LZ H 0UMVYTH[PVUVU:\IZPKPHYPLZ Sr. 5HTLVM[OLLU[P[` *V\U[Y`VM 7LYJLU[HNLVM/VSKPUN No. Incorporation As on As on 4HYJO 2FWHM % (i) *VTWHUPLZ! ,TIWJO'ZNQIHTS5WN[FYJ1NRNYJI India ,TIWJO5WTOJHYX)J[JQTURJSY1NRNYJI KTWRJWQ^PST\SFX India ,TIWJO5WTOJHYX)J[JQTURJSY5WN[FYJ1NRNYJI ,TIWJO,FWIJS(NY^5WTUJWYNJX5WN[FYJ1NRNYJI India ,TIWJO-NQQXNIJ5WTUJWYNJX5WN[FYJ1NRNYJI India ,TIWJO-TRJ)J[JQTUJWX5WN[FYJ1NRNYJI India ,TIWJO.S[JXYRJSY&I[NXTWX5WN[FYJ1NRNYJI HJFXJIYTGJ India N.A. 8ZGXNINFW^KWTR/ZSJ ,TIWJO5WFPWNYN+FHNQNYNJX5WN[FYJ1NRNYJI India 5WFPWNYNUQF_F+FHNQNYNJX2FSFLJRJSY5WN[FYJ1NRNYJI India ,TIWJO-NLMWNXJX5WTUJWYNJX5WN[FYJ1NRNYJI India ,TIWJO,JSJXNX+FHNQNYNJX2FSFLJRJSY5WN[FYJ1NRNYJI India ,TIWJO+ZSI2FSFLJRJSY5YJ1YI 8ZGXNINFW^TK 8NSLFUTWJ ,TIWJO.S[JXYRJSY&I[NXTWX5WN[FYJ1NRNYJI HJFXJIYTGJ 8ZGXNINFW^KWTR/ZSJ (NY^XYFW.SKWF5WTOJHYX1NRNYJI India ,TIWJO,WJJS-TRJX1NRNYJI India N.A. (QFXXNÁJIFX/TNSY;JSYZWJ\JK2FWHM ,TIWJO7JXNIJSH^5WN[FYJ1NRNYJI India ,TIWJO5WTUJWYNJX 238 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18 NOTES FORMING PART OF CONSOLIDATED FINANCIAL STATEMENTS I 0UMVYTH[PVUVU1VPU[=LU[\YLZ! Sr. 5HTLVM[OLLU[P[` *V\U[Y`VM 7LYJLU[HNLVM/VSKPUN 7LYJLU[HNLVM=V[PUN9PNO[Z No. Incorporation As on March &XTS2FWHM As on March &XTS2FWHM % % (i) *VTWHUPLZ! ,TIWJO7JFQY^5WN[FYJ1NRNYJI India ,TIWJO1FSIRFWP India 7JIJ[JQTUJWX5WN[FYJ1NRNYJI ,TIWJO7JIJ[JQTUJWX India 2ZRGFN5WN[FYJ1NRNYJI NOTES FORMING PART OF CONSOLIDATED FINANCIAL STATEMENTS Sr. 5HTLVM[OLLU[P[` *V\U[Y`VM 7LYJLU[HNLVM/VSKPUN 7LYJLU[HNLVM=V[PUN9PNO[Z No. Incorporation As on March &XTS2FWHM As on March &XTS2FWHM % % ,TIWJO-TZXNSL5WTOJHYX115 India 50% &RNYNX)J[JQTUJWX115 India 50% &71FSIHWFKY115 India 50% 5WFPMM^FY)\JQQNSLX115 India 50% 'F[IMFS7JFQY^%5ZSJ India 115 ,TIWJO-NLM[NJ\115 India 3& 3& (TSXNIJWJIFXXZGXNINFW^YNQQ /ZSJ ,TIWJO.WNXRFWP115 \JK India 50% 3& 3& /FSZFW^ ,TIWJO5WTOJHYX3TWYM8YFW India 55% 3& 50% 3& 115 KTWRJWQ^PST\SFX ,TIWJO(JSYZW^115 (TSXNIJWJIFXXZGXNINFW^YNQQ 8JUYJRGJW ,TIWJO)J[JQTUJWX India 3& 3& 5WTUJWYNJX115 \JK4HYTGJW (TSXNIJWJIFXXZGXNINFW^YNQQ 4HYTGJW 8FN8WZXMYN4SJMZG5WTOJHYX India 75% 3& 50% 3& 115 \JK/FSZFW^ .SHFXJTK115XUJWHJSYFLJTKMTQINSLNSYMJFGT[JYFGQJIJSTYJXYMJ8MFWJTK5WTÁYXNSYMJ115 J 0UMVYTH[PVUVU(ZZVJPH[L! 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KTWRJWQ^PST\SFX,TIWJO5WTOJHYX )J[JQTURJSY5WN[FYJ1NRNYJI 5WN[FYJ1NRNYJI 1NRNYJI 1NRNYJI 1NRNYJI 5WN[FYJ1NRNYJI 1NRNYJI 2FSFLJRJSY5WN[FYJ1NRNYJI Sr. Sr. No. ,TIWJO'ZNQIHTS5WN[FYJ1NRNYJI ,TIWJO5WTOJHYX)J[JQTURJSY1NRNYJI ,TIWJO,FWIJS(NY^5WTUJWYNJX ,TIWJO-NQQXNIJ5WTUJWYNJX5WN[FYJ ,TIWJO-TRJ)J[JQTUJWX5WN[FYJ ,TIWJO5WFPWNYN+FHNQNYNJX5WN[FYJ 5WFPWNYNUQF_F+FHNQNYNJX2FSFLJRJSY ,TIWJO-NLMWNXJX5WTUJWYNJX5WN[FYJ ,TIWJO,JSJXNX+FHNQNYNJX (NY^XYFW.SKWF5WTOJHYX1NRNYJI ,TIWJO7JXNIJSH^5WN[FYJ1NRNYJI ,TIWJO1FSI)J[JQTUJWX115 ,TIWJO-NLMWNXJX7JFQY^115 =LU[\YLZ(ZZVJPH[L INR 0.00 represents amount less than INR 50,000 INR 0.00 represents (KKP[PVUHS0UMVYTH[PVUHZYLX\PYLK\UKLY:JOLK\SL000[V[O 241 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18 GODREJ PROPERTIES LIMITED NOTES FORMING PART OF CONSOLIDATED FINANCIAL STATEMENTS (Currency in INR Crore) (TCI) Share in Share [V[HSJVTWYLOLUZP]LPUJVTL (TV\U[ (Z VM;*0 (TV\U[ Share in Share PUJVTL6*0 OCI V[OLYJVTWYLOLUZP]L (Z VM consolidated (TV\U[ Share in Share WYVÂ[VYSVZZ (Z VM WYVÂ[VYSVZZ consolidated (TV\U[ TPU\Z[V[HSSPHIPSP[PLZ (Z VM net assets Net Assets i.e. total assets consolidated HJFXJIYTGJ8ZGXNINFW^KWTR/ZSJ HJFXJIYTGJ8ZGXNINFW^KWTR/ZSJ KTWRJWQ^PST\SFX,TIWJO5WTOJHYX 'QZJ/F^115 5WTUJWYNJX115 5HTLVM[OL,U[P[` (ZZVJPH[L0UKPHU0U]LZ[TLU[HZ WLY,X\P[`4L[OVK 5WN[FYJ1NRNYJI (TSXNIJWJIFX/TNSY;JSYZWJ\JK 2FWHM 1NRNYJI :8& ,TIWJO5WTOJHY)J[JQTUJWX Sr. Sr. No. ,TIWJO4SJ5WJRNXJX2FSFLJRJSY ,TIWJO,WJJS-TRJX1NRNYJI ,TIWJO.S[JXYRJSY&I[NXTWX5WN[FYJ ,TIWJO&YMJSRFWP115 ,TIWJO8P^[NJ\115 ,TIWJO)J[JQTUJWX 5WTUJWYNJX115 ,TIWJO;JXYFRFWP115 ,TIWJO,WJJS5WTUJWYNJX115 ,TIWJO5WTUJWYNJX 242 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18 NOTES FORMING PART OF CONSOLIDATED FINANCIAL STATEMENTS (Currency in INR Crore) (TCI) Share in Share [V[HSJVTWYLOLUZP]LPUJVTL (TV\U[ (Z VM;*0 (TV\U[ Share in Share PUJVTL6*0 OCI V[OLYJVTWYLOLUZP]L (Z VM consolidated (TV\U[ Share in Share WYVÂ[VYSVZZ (Z VM WYVÂ[VYSVZZ consolidated (TV\U[ TPU\Z[V[HSSPHIPSP[PLZ (Z VM net assets Net Assets i.e. total assets consolidated 5HTLVM[OL,U[P[` Joint Ventures (Indian) Joint Ventures 0U]LZ[TLU[HZWLY[OL,X\P[` Method) 5WN[FYJ1NRNYJI 5WN[FYJ1NRNYJI 1NRNYJI 1NRNYJI 1NRNYJI 5WN[FYJ1NRNYJI 1NRNYJI 1NRNYJI 1NRNYJI (TSXNIJWJIFX8ZGXNINFW^YNQQ2FWHM Sr. Sr. No. ,TIWJO7JFQY^5WN[FYJ1NRNYJI ,TIWJO1FSIRFWP7JIJ[JQTUJWX ,TIWJO7JIJ[JQTUJWX 2ZRGFN 243 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18 GODREJ PROPERTIES LIMITED NOTES FORMING PART OF CONSOLIDATED FINANCIAL STATEMENTS (Currency in INR Crore) (TCI) Share in Share [V[HSJVTWYLOLUZP]LPUJVTL (TV\U[ (Z VM;*0 (TV\U[ Share in Share PUJVTL6*0 OCI V[OLYJVTWYLOLUZP]L (Z VM consolidated MOHIT MALHOTRA & CEO Managing Director (TV\U[ Share in Share WYVÂ[VYSVZZ (Z VM WYVÂ[VYSVZZ consolidated (TV\U[ -VYHUKVUILOHSMVM[OL)VHYKVM+PYLJ[VYZVM .VKYLQ7YVWLY[PLZ3PTP[LK PIROJSHA GODREJ Executive Chairman ).3 2ZRGFN 2F^ ).3 TPU\Z[V[HSSPHIPSP[PLZ (Z VM net assets Net Assets i.e. total assets consolidated 5HTLVM[OL,U[P[` KTWRJWQ^PST\SFX,TIWJO(JSYZW^ 5WTOJHYX115 .SYJWHTRUFS^*QNRNSFYNTSFSI (TSXTQNIFYNTS&IOZXYRJSYX Total ,TIWJO885)1,WJJS&HWJX115 Sr. Sr. No. 4FXNX1FSIRFWPX115 287FRFNFM;JSYZWJX115 (FWTF5WTUJWYNJX115 ,TIWJO(TSXYWZHYNTS5WTOJHYX115 ,TIWJO-TZXNSL5WTOJHYX115 &RNYNX)J[JQTUJWX115 &71FSIHWFKY115 5WFPMM^FY)\JQQNSLX115 'F[IMFS7JFQY^%5ZSJ115 ,TIWJO-NLM[NJ\115 ,TIWJO.WNXRFWP115 ,TIWJO5WTOJHYX3TWYM8YFW115 ,TIWJO)J[JQTUJWX 5WTUJWYNJX115 8FN8WZXMYN4SJMZG5WTOJHYX115 INR 0.00 represents amount less than INR 50,000 INR 0.00 represents &XUJWTZWWJUTWYTKJ[JSIFYJ For B S R & Co. LLP Accountants Chartered +NWR¸X7JLNXYWFYNTS3T << ANIRUDDHA GODBOLE5FWYSJW2JRGJWXMNU3T 2ZRGFN 2F^ SURENDER VARMA .(8.2JRGJWXMNU3T & (TRUFS^8JHWJYFW^ RAJENDRA KHETAWAT (MNJK+NSFSHNFQ4KÁHJW 244 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18 NOTES FORMING PART OF CONSOLIDATED FINANCIAL STATEMENTS (Currency in INR Crore) India India India India India India India India India India India India *V\U[Y` VM M*VTWHUPLZ Holding* HM[LY (Loss) 7YVÂ[ taxation MVY taxation 7YV]PZPVU Tax +LMLYYLK Tax Current Current 7YVÂ[ ILMVYL taxation JILSV^ 9LMLY5V[L 0U]LZ[TLU[Z ;\YUV]LY Total Total :\IZPKPHYPLZ1VPU[=LU[\YLZHUK(ZZVJPH[L VMZLJ[PVU VM[OL*VTWHUPLZ(J[YLHK^P[OY\SL V VMZLJ[PVU 3PHIPSP[PLZ IILSV^ 9LMLY5V[L Total Total Assets and Surplus 9LZLY]LZ Capital Period Accounting .37 .37 .37 .37 .37 .37 .37 .37 .37 .37 .37 .37 *\YYLUJ` Reporting 5HTLVM Partnership 3PTP[LK3PHIPSP[` :\IZPKPHY`*VTWHU` 2FSFLJRJSY5WN[FYJ 1NRNYJI 5WTUJWYNJX5WN[FYJ1NRNYJI 2FSFLJRJSY5WN[FYJ 1NRNYJI 7JKJW3TYJ F GJQT\ 1NRNYJI 5WN[FYJ1NRNYJI 5WN[FYJ1NRNYJI 5WN[FYJ1NRNYJI )J[JQTURJSY1NRNYJI KTWRJWQ^PST\SFX,TIWJO 5WTOJHYX)J[JQTURJSY 5WN[FYJ1NRNYJI 5WTUJWYNJX5WN[FYJ1NRNYJI 1NRNYJI 1NRNYJI 115 7JKJW3TYJ FGJQT\ INR 0.00 represents amount less than INR 50,000 INR 0.00 represents 5WFPWNYNUQF_F+FHNQNYNJX ,TIWJO-NLMWNXJX ,TIWJO,JSJXNX+FHNQNYNJX (NY^XYFW.SKWF5WTOJHYX ,TIWJO-NQQXNIJ5WTUJWYNJX ,TIWJO-TRJ)J[JQTUJWX ,TIWJO5WFPWNYN+FHNQNYNJX ,TIWJO5WTOJHYX ,TIWJO,FWIJS(NY^ ,TIWJO'ZNQIHTS5WN[FYJ Sr. Sr. No. ,TIWJO7JXNIJSH^5WN[FYJ ,TIWJO1FSI)J[JQTUJWX (UUL_\YL(!:[H[LTLU[W\YZ\HU[[VÂYZ[WYV]PZV[VZ\IZLJ[PVU (JJV\U[Z9\SLZPU[OLWYLZJYPILK-VYT(6*YLSH[PUN[V 7HY[·(¸!:\IZPKPHYPLZ 245 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18 GODREJ PROPERTIES LIMITED NOTES FORMING PART OF CONSOLIDATED FINANCIAL STATEMENTS (Currency in INR Crore) India India India India India India India India India India *V\U[Y` VM Holding* :8& HM[LY (Loss) 7YVÂ[ taxation MVY taxation 7YV]PZPVU Tax +LMLYYLK Tax Current Current 7YVÂ[ ILMVYL taxation JILSV^ 9LMLY5V[L 0U]LZ[TLU[Z ;\YUV]LY Total Total 3PHIPSP[PLZ IILSV^ 9LMLY5V[L 15X Total Total Assets and Surplus 9LZLY]LZ Capital Period Accounting .37 .37 .37 .37 .37 .37 .37 .37 .37 .37 *\YYLUJ` Reporting 5HTLVM Partnership 3PTP[LK3PHIPSP[` :\IZPKPHY`*VTWHU` 7JKJW3TYJ FGJQT\ KTWRJWQ^PST\SFX,TIWJO 5WTOJHYX 'QZJ/F^115 115 7JKJW3TYJ FGJQT\ in Not Considered Considered Consolidation MVY[OL`LHY in :OHYLVM7YVÂ[3VZZ Considered Considered Consolidation Balance Sheet per latest audited to Shareholding as to Shareholding 5L[^VY[OH[[YPI\[HISL NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA NA is not 9LHZVU^O` QVPU[]LU[\YL consolidated WNLMYX WNLMYX WNLMYX WNLMYX holding holding holding holding holding holding holding holding holding holding holding holding LM TK PUÃ\LUJL Description VMOV^[OLYL PZZPNUPÂJHU[ MTQINSLFSI;TYNSL MTQINSLFSI;TYNSL MTQINSLFSI;TYNSL MTQINSLFSI;TYNSL % YMWTZLM TK Holding ,_[LUKVM YMWTZLM TK YMWTZLM TK YMWTZLM TK YMWTZLM TK YMWTZLM TK YMWTZLM TK YMWTZLM TK YMWTZLM TK YMWTZLM TK YMWTZLM TK YMWTZLM TK in Joint Venture Venture (TV\U[VM 0U]LZ[TLU[ NA NA NA NA *VTWHU`VU[OL`LHYLUK Share 5VVM :OHYLZVM1VPU[=LU[\YLZOLSKI`[OL Date YMWTZLM TK YMWTZLM TK YMWTZLM TK Latest audited Balance Sheet 3PTP[LK 3PHIPSP[`7HY[ULYZOPW 5HTLVM1VPU[=LU[\YL*VTWHU` (TSXNIJWJIFX8ZGXNINFW^YNQQ2FWHM 1NRNYJI 1NRNYJI 1NRNYJI 1NRNYJI 1NRNYJI 1NRNYJI ,TIWJO5WTUJWY^)J[JQTUJWX115 NOTES FORMING PART OF CONSOLIDATED FINANCIAL STATEMENTS (Currency in INR Crore) in Not Considered Considered Consolidation MVY[OL`LHY in :OHYLVM7YVÂ[3VZZ Considered Considered Consolidation Balance Sheet per latest audited to Shareholding as to Shareholding 5L[^VY[OH[[YPI\[HISL NA NA NA NA NA NA NA NA NA NA NA NA NA is not 9LHZVU^O` QVPU[]LU[\YL consolidated WNLMYX WNLMYX WNLMYX WNLMYX WNLMYX WNLMYX WNLMYX WNLMYX WNLMYX WNLMYX WNLMYX WNLMYX WNLMYX PUÃ\LUJL Description VMOV^[OLYL PZZPNUPÂJHU[ MTQINSLFSI;TYNSL MTQINSLFSI;TYNSL MTQINSLFSI;TYNSL MTQINSLFSI;TYNSL MTQINSLFSI;TYNSL MTQINSLFSI;TYNSL MTQINSLFSI;TYNSL MTQINSLFSI;TYNSL MTQINSLFSI;TYNSL MTQINSLFSI;TYNSL MTQINSLFSI;TYNSL MTQINSLFSI;TYNSL MTQINSLFSI;TYNSL % Holding ,_[LUKVM YMWTZLM TK YMWTZLM TK YMWTZLM TK YMWTZLM TK YMWTZLM TK YMWTZLM TK YMWTZLM TK YMWTZLM TK YMWTZLM TK YMWTZLM TK YMWTZLM TK YMWTZLM TK YMWTZLM TK in Joint Venture Venture (TV\U[VM 0U]LZ[TLU[ NA NA NA NA NA NA NA NA NA NA NA NA NA *VTWHU`VU[OL`LHYLUK Share 5VVM :OHYLZVM1VPU[=LU[\YLZOLSKI`[OL Date Latest audited Balance Sheet 3PTP[LK 3PHIPSP[`7HY[ULYZOPW 5HTLVM1VPU[=LU[\YL*VTWHU` KTWRJWQ^PST\SFX,TIWJO(JSYZW^ 5WTOJHYX115 ,TIWJO885)1,WJJS&HWJX115 &71FSIHWFKY115 5WFPMM^FY)\JQQNSLX115 4FXNX1FSIRFWPX115 'F[IMFS7JFQY^%5ZSJ115 ,TIWJO-NLM[NJ\115 ,TIWJO.WNXRFWP115 287FRFNFM;JSYZWJX115 (FWTF5WTUJWYNJX115 ,TIWJO5WTOJHYX3TWYM8YFW115 Sr. Sr. No. ,TIWJO(TSXYWZHYNTS5WTOJHYX115 ,TIWJO-TZXNSL5WTOJHYX115 &RNYNX)J[JQTUJWX115 INR 0.00 represents amount less than INR 50,000 INR 0.00 represents 248 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18 NOTES FORMING PART OF CONSOLIDATED FINANCIAL STATEMENTS (Currency in INR Crore) in in Not Not Considered Considered Considered Considered Consolidation Consolidation `LHY MVY[OL`LHY in in :OHYLVM7YVÂ[3VZZ Considered Considered Considered Considered :OHYLVM7YVÂ[3VZZMVY[OL Consolidation Consolidation to latest audited Balance Sheet )HSHUJL:OLL[¸ per latest audited to Shareholding as to Shareholding Shareholding as per Shareholding 5L[^VY[OH[[YPI\[HISL 5L[^VY[OH[[YPI\[HISL NA NA NA is not is not associate 9LHZVU^O` 9LHZVU^O` QVPU[]LU[\YL consolidated consolidated WNLMYX WNLMYX holding PUÃ\LUJL PUÃ\LUJL Description Description VMOV^[OLYL PZZPNUPÂJHU[ VMOV^[OLYL PZZPNUPÂJHU[ MTQINSLFSI;TYNSL MTQINSLFSI;TYNSL % % Holding Holding ,_[LUKVM ,_[LUKVM YMWTZLM TK YMWTZLM TK 5X in Joint in Joint Venture Venture Venture Venture (TV\U[VM (TV\U[VM 0U]LZ[TLU[ 0U]LZ[TLU[ NA NA JVTWHU`VU[OL`LHYLUK *VTWHU`VU[OL`LHYLUK :OHYLZVM(ZZVJPH[LOLSKI`[OL 5VVM Share Share 5VVM :OHYLZVM1VPU[=LU[\YLZOLSKI`[OL Date Date MOHIT MALHOTRA & CEO Managing Director YMWTZLM TK Latest audited Balance Sheet Latest audited Balance Sheet 3PTP[LK 5HTLVM (ZZVJPH[L*VTWHU` 3PHIPSP[`7HY[ULYZOPW 5HTLVM1VPU[=LU[\YL*VTWHU` 5WN[FYJ1NRNYJI ,TIWJO)J[JQTUJWX 5WTUJWYNJX115 8FN8WZXMYN4SJMZG5WTOJHYX115 Sr. Sr. No. Sr. No. ,TIWJO4SJ5WJRNXJX2FSFLJRJSY +TWFSITSGJMFQKTKYMJ'TFWI PIROJSHA GODREJ Chairman ).3 SURENDER VARMA(TRUFS^8JHWJYFW^.(8.2JRGJWXMNU3T & 2ZRGFN)FYJI 2F^ RAJENDRA KHETAWAT ).3 (MNJK+NSFSHNFQ4KÁHJW .37WJUWJXJSYXFRTZSYQJXXYMFS.37 &QQYMJFGT[JNSKTWRFYNTSNXLN[JSFXUJW.SI&8 7HY[·*¸!(ZZVJPH[L 5JWHJSYFLJMTQINSLNS115XIJSTYJXYMJ8MFWJTK5WTÁYNSYMJ11 249 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18 GODREJ PROPERTIES LIMITED NOTICE Notice is hereby given that the Thirty Third Annual General Meeting (“AGM”) of the members (“Members”) of Godrej Properties Limited (“Company”) will be held on Thursday, August 02, 2018, at 02:00 p.m. at The Auditorium, Godrej One, Pirojshanagar, Eastern Express Highway, Vikhroli (East), Mumbai 400 079, to transact the following business: ORDINARY BUSINESS: 9THTSXNIJWFSIFITUYYMJFZINYJIXYFSIFQTSJÁSFSHNFQXYFYJRJSYXFSIYMJFZINYJIHTSXTQNIFYJIÁSFSHNFQXYFYJRJSYXTKYMJ(TRUFS^KTW YMJÁSFSHNFQ^JFWJSIJI2FWHM YTLJYMJW\NYMYMJWJUTWYTKYMJ'TFWITK)NWJHYTWXFSIWJUTWYTKYMJ&ZINYTWXYMJWJTSFSITYMJW reports. 9T FUUTNSY F )NWJHYTW NS UQFHJ TK 2W 3FINW ' ,TIWJO ).3 \MT WJYNWJX G^ WTYFYNTS FSI GJNSL JQNLNGQJ TKKJWX MNRXJQK KTW re-appointment. 9TWFYNK^YMJFUUTNSYRJSYTK&ZINYTWXFSINSYMNXWJLFWIYTHTSXNIJWFSINKYMTZLMYÁYYTUFXXYMJKTQQT\NSLWJXTQZYNTSFXFS4WINSFW^ Resolution: “RESOLVED THAT UZWXZFSY YT YMJ UWT[NXNTSX TK 8JHYNTS TK YMJ (TRUFSNJX &HY WJFI \NYM 7ZQJ TK YMJ (TRUFSNJX &ZINYFSI&ZINYTWX7ZQJXFXFRJSIJIYMJFUUTNSYRJSYTK'87 (T115(MFWYJWJI&HHTZSYFSYX +NWR7JLNXYWFYNTS3ZRGJW << FX YMJ 8YFYZYTW^ &ZINYTWX TK YMJ (TRUFS^ GJ FSI NX MJWJG^ WFYNÁJI YT MTQI TKÁHJ KWTR YMJ HTSHQZXNTS TK YMNX rd 9MNWY^9MNWI&SSZFQ,JSJWFQ2JJYNSL &,2YNQQYMJHTSHQZXNTSTKYMJ th (Thirty Seventh) Annual General Meeting (AGM), at such remuneration as may be mutually agreed upon between them and the Company.” SPECIAL BUSINESS: 9THTSXNIJWFSINKYMTZLMYÁYYTUFXXYMJKTQQT\NSLWJXTQZYNTSFXFSpecial Resolution: “RESOLVED THAT UZWXZFSYYTYMJUWT[NXNTSXTK8JHYNTSX FSIWJFI\NYM8HMJIZQJ;FSITYMJWFUUQNHFGQJUWT[NXNTSXNK FS^TKYMJ(TRUFSNJX&HYWJFI\NYMYMJWZQJXRFIJYMJWJZSIJW NSHQZINSLFS^XYFYZYTW^RTINÁHFYNTSXTWWJJSFHYRJSYYMJWJTK for the time being in force) (“the Act”) and pursuant to the provisions of the Articles of Association of the Company and subject to such other approvals as may be required, consent of the Members of the Company be and is hereby accorded for re-appointment of 2W5NWTOXMF,TIWJO ).3 FX 250 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18 NOTICE -TZXNSLQTFSFXUJWWZQJXTKYMJ(TRUFS^FSIHTSYNSLJSH^QTFSFXUJWWZQJXTKYMJ(TRUFS^9MJXJQTFSXXMFQQGJXZGOJHYYT (JSYWFQ,T[JWSRJSYFUUWT[FQNKFS^ (TSXTQNIFYJIUWN[NQJLJQJF[JTSKZQQUF^FSIFQQT\FSHJSTYJ]HJJINSLIF^XNSFÁSFSHNFQ^JFW*SHFXMRJSYFHHZRZQFYNTSTK QJF[J\NQQGJUJWRNXXNGQJNSFHHTWIFSHJ\NYMYMJWZQJXXUJHNÁJIG^YMJ(TRUFS^8NHPQJF[JFXUJWYMJWZQJXTKYMJ(TRUFS^ 8ZHMTYMJWUJWVZNXNYJXFSIFQQT\FSHJXFXUJWYMJUTQNH^WZQJXTKYMJ(TRUFS^NSKTWHJFSITWFXRF^GJWJHTRRJSIJIG^YMJ 3TRNSFYNTS 7JRZSJWFYNTS(TRRNYYJJFSIFUUWT[JIG^YMJ'TFWIKWTRYNRJYTYNRJ Explanation: N +TWYMJ1JF[J9WF[JQ&XXNXYFSHJFSIWJNRGZWXJRJSYTKRJINHFQFSIMTXUNYFQN_FYNTSJ]UJSXJX·KFRNQ^¸RJFSXYMJXUTZXJFSI dependent children and dependent parents. ii) Perquisites shall be valued at actual cost, or if the cost is not ascertainable, the same shall be valued as per the applicable Income Tax Rules. IV. Other Reimbursements: Mr. Pirojsha Godrej will also be entitled for the reimbursement of actual entertainment, travelling, boarding and lodging expenses NSHZWWJIG^MNRNSHTSSJHYNTS\NYMYMJ(TRUFS^ XGZXNSJXXFSIXZHMTYMJWGJSJÁYXFRJSNYNJXFSITYMJWUWN[NQJLJXFXNSKTWHJKWTR time-to-time. V. Overall Remuneration: 9MJFLLWJLFYJTKXFQFW^FSIUJWVZNXNYJXFXXUJHNÁJIFGT[JTWUFNIFIINYNTSFQQ^NSFHHTWIFSHJ\NYMYMJWZQJXTKYMJ(TRUFS^NSFS^ ÁSFSHNFQ^JFW\MNHMYMJ'TFWINSNYXFGXTQZYJINXHWJYNTSRF^UF^YTYMJ*]JHZYN[J(MFNWRFSKWTRYNRJYTYNRJXMFQQSTYJ]HJJI YMJQNRNYXUWJXHWNGJIKWTRYNRJYTYNRJZSIJW8JHYNTS FSITYMJWFUUQNHFGQJUWT[NXNTSXTKYMJ(TRUFSNJX&HYWJFI\NYM Schedule V to the said Act as may for the time being, be in force. VI. Minimum Remuneration: 3TY\NYMXYFSINSLYMJKTWJLTNSLNKNSFS^+NSFSHNFQ>JFWIZWNSLYMJHZWWJSH^TKYMJYJSZWJTKYMJ*]JHZYN[J(MFNWRFSYMJ(TRUFS^MFX STUWTÁYXTWNYXUWTÁYXFWJNSFIJVZFYJYMJ(TRUFS^\NQQUF^WJRZSJWFYNTSFXXUJHNÁJIFGT[J Other Terms: 9MJ*]JHZYN[J(MFNWRFSNXQNFGQJYTWJYNWJG^WTYFYNTS9MJFUUTNSYRJSYNXYJWRNSFGQJG^LN[NSLYMWJJRTSYMX¸STYNHJNS\WNYNSLTS either side. 9MJ*]JHZYN[J(MFNWRFSXMFQQSTYIZWNSLYMJHTSYNSZFSHJTKMNXJRUQT^RJSYTWFYFS^YNRJYMJWJFKYJWIN[ZQLJTWINXHQTXJYT whomsoever or make any use whatsoever, whether for his own or for any other purpose other than that of the Company, any information or knowledge obtained by him during his employment with the business or affairs or other matters whatsoever of the (TRUFS^FSINYXMFQQGJYMJ*]JHZYN[J(MFNWRFS¸XJSIJF[TWIZWNSLYMJHTSYNSZFSHJTKMNXJRUQT^RJSYYTUWJ[JSYFS^TYMJW person from disclosing the aforesaid information. .KYMJ*]JHZYN[J(MFNWRFSGJLZNQY^TKXZHMNSFYYJSYNTSYTTWSJLQNLJSHJNSYMJHTSIZHYTKYMJGZXNSJXXTKYMJ(TRUFS^TWTK RNXHTSIZHYTWTKFS^TYMJWFHYTWTRNXXNTSNSHTSXNXYJSY\NYMMNXIZYNJXFX)NWJHYTWTWFS^GWJFHMTKYMJYJWRXTKMNXFUUTNSYRJSY FXNSYMJTUNSNTSTKFQQTYMJW)NWJHYTWXWJSIJWXMNXWJYNWJRJSYKWTRYMJTKÁHJIJXNWFGQJYMJTUNSNTSTKXZHMTYMJW)NWJHYTWXXMFQQ GJÁSFQHTSHQZXN[JFSIGNSINSLTSYMJ*]JHZYN[J(MFNWRFSFSIYMJ(TRUFS^RF^G^LN[NSLYMNWY^IF^X¸STYNHJNS\WNYNSLYT the Executive Chairman, terminate this appointment, and he shall cease to be the Executive Chairman of the Company, upon expiration of such notice. RESOLVED FURTHER THAT approval be and is hereby accorded to make application to Central Government, if necessary, as per YMJUWT[NXNTSXTK8JHYNTSX FSI TKYMJ&HYKTWTGYFNSNSLNYXFUUWT[FQYT\FWIXUF^RJSYTKWJRZSJWFYNTSFXFGT[JNSYMJJ[JSYNY J]HJJIXNSFS^ÁSFSHNFQ^JFWYMJQNRNYXUWT[NIJINS5FWY..TK8HMJIZQJ;YTYMJ&HY RESOLVED FURTHER THAT YMJ'TFWITK)NWJHYTWXTKYMJ(TRUFS^GJFSINXMJWJG^FZYMTWN_JIYTITFQQXZHMFHYXIJJIXRFYYJWX and things as in its absolute discretion, it may consider necessary, expedient or desirable for giving effect to the foregoing resolution, and to settle any question, or doubt that may arise in relation thereto.” 9THTSXNIJWFSINKYMTZLMYÁYYTUFXXYMJKTQQT\NSLWJXTQZYNTSFXFSpecial Resolution: “RESOLVED THAT UZWXZFSYYTYMJUWT[NXNTSXTK8JHYNTSX FSIWJFI\NYM8HMJIZQJ;FSITYMJWFUUQNHFGQJUWT[NXNTSXNK FS^TKYMJ(TRUFSNJX&HYWJFI\NYMYMJWZQJXRFIJYMJWJZSIJW NSHQZINSLFS^XYFYZYTW^RTINÁHFYNTSXTWWJJSFHYRJSYYMJWJTK for the time being in force) (“the Act”) and pursuant to the provisions of the Articles of Association of the Company and subject to such other approvals as may be required, consent of the Members of the Company be and is hereby accorded for re-appointment of 2W2TMNY2FQMTYWF ).3 FX2FSFLNSL)NWJHYTW (MNJK*]JHZYN[J4KÁHJWTKYMJ(TRUFS^KTWFUJWNTITKYMWJJ^JFWX\NYMJKKJHY KWTR&UWNQ ZUTSYMJWJRZSJWFYNTSFXRF^GJIJYJWRNSJIFSIFLWJJIYTGJY\JJSYMJ'TFWITK)NWJHYTWXFSI2W2TMNY2FQMTYWF 251 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18 GODREJ PROPERTIES LIMITED NOTICE on the following terms and conditions. I. Fixed Compensation: +N]JI(TRUJSXFYNTSXMFQQNSHQZIJGFXNHXFQFW^(TRUFS^¸XHTSYWNGZYNTSYT5WT[NIJSY+ZSIFSI,WFYZNY^+ZSI The basic salary is ` UJW RTSYM 9MJ FSSZFQ GFXNH XFQFW^ FSI NSHWJRJSYX NS WJRZSJWFYNTS \NQQ GJ WJHTRRJSIJI G^ YMJ3TRNSFYNTSFSI7JRZSJWFYNTS(TRRNYYJJFSI\NQQGJIJHNIJIG^YMJ'TFWITK)NWJHYTWXIJUJSINSLTSYMJUJWKTWRFSHJTK 2W2TMNY2FQMTYWFFX2FSFLNSL)NWJHYTW (MNJK*]JHZYN[J4KÁHJWYMJUWTÁYFGNQNY^TKYMJ(TRUFS^FSITYMJWWJQJ[FSYKFHYTWX II. Performance Linked Variable Remuneration (PLVR): 51;7 FHHTWINSL YT YMJ 8HMJRJ TK YMJ (TRUFS^ KTW JFHM TK YMJ ÁSFSHNFQ ^JFWX NS FHHTWIFSHJ \NYM YMJ UJWKTWRFSHJ TK 2W2TMNY2FQMTYWFFX2FSFLNSL)NWJHYTW (MNJK*]JHZYN[J4KÁHJWKTWJFHM^JFWTWFXRF^GJWJHTRRJSIJIG^YMJ3TRNSFYNTS 7JRZSJWFYNTS(TRRNYYJJFSIIJHNIJIG^YMJ'TFWITK)NWJHYTWX III. Flexible Compensation: .SFIINYNTSYTYMJ+N]JI(TRUJSXFYNTSFSI51;7RJSYNTSJIFGT[J2W2TMNY2FQMTYWF\NQQGJJSYNYQJIYTYMJKTQQT\NSLFQQT\FSHJX UJWVZNXNYJXGJSJÁYXKFHNQNYNJXFSIFRJSNYNJXFXUJWWZQJXTKYMJ(TRUFS^FSIXZGOJHYYTYMJWJQJ[FSYUWT[NXNTSXTKYMJ(TRUFSNJX Act, as amended (collectively, the “perquisites and allowances”). These perquisites and allowances may be granted to Mr. Mohit Malhotra as per the rules of the Company and in the manner as the 3TRNSFYNTSFSI7JRZSJWFYNTS(TRRNYYJJRF^WJHTRRJSIFSIYMJ'TFWITK)NWJHYTWXRF^IJHNIJ -TZXNSL NJZSKZWSNXMJIWJXNIJSYNFQFHHTRRTIFYNTSTW-TZXJ7JSY&QQT\FSHJFXUJW(TRUFS^¸XWZQJX +ZWSNXMNSLFYWJXNIJSHJ 8ZUUQJRJSYFW^&QQT\FSHJ 1JF[J9WF[JQ&XXNXYFSHJKTWXJQKFSIKFRNQ^ 5F^RJSYWJNRGZWXJRJSYTKRJINHFQMTXUNYFQNXFYNTSJ]UJSXJXKTWXJQKFSIKFRNQ^ ,WTZUNSXZWFSHJHT[JWLWTZURJINHQFNRHT[JW 5F^RJSYWJNRGZWXJRJSYTKHQZGKJJXKTTI[TZHMJWXFSIKZJQWJNRGZWXJRJSY (TRUFS^HFWX\NYMIWN[JWXKTWTKÁHNFQZXJUWT[NXNTSTKYJQJUMTSJ XFYWJXNIJSHJ 5F^RJSYWJNRGZWXJRJSYTKYJQJUMTSJJ]UJSXJX -TZXNSL1TFSFXUJWWZQJXTKYMJ(TRUFS^FSIHTSYNSLJSH^QTFSFXUJWWZQJXTKYMJ(TRUFS^9MJXJQTFSXXMFQQGJXZGOJHYYT (JSYWFQ,T[JWSRJSYFUUWT[FQNKFS^ (TSXTQNIFYJIUWN[NQJLJQJF[JTSKZQQUF^FSIFQQT\FSHJSTYJ]HJJINSLIF^XNSFÁSFSHNFQ^JFW*SHFXMRJSYFHHZRZQFYNTSTK QJF[J\NQQGJUJWRNXXNGQJNSFHHTWIFSHJ\NYMYMJWZQJXXUJHNÁJIG^YMJ(TRUFS^8NHPQJF[JFXUJWYMJWZQJXTKYMJ(TRUFS^ 8ZHMTYMJWUJWVZNXNYJXFSIFQQT\FSHJXFXUJWYMJUTQNH^WZQJXTKYMJ(TRUFS^NSKTWHJFSITWFXRF^GJWJHTRRJSIJIG^YMJ 3TRNSFYNTS 7JRZSJWFYNTS(TRRNYYJJFSIFUUWT[JIG^YMJ'TFWIKWTRYNRJYTYNRJ 2W2TMNY2FQMTYWF\NQQFQXTGJJSYNYQJIYTYMJXYTHPTUYNTSXXYTHPLWFSYXFXUJWYMJUWJ[FNQNSLXHMJRJXTKYMJ(TRUFS^ Explanation: N +TWYMJ1JF[J9WF[JQ&XXNXYFSHJFSIWJNRGZWXJRJSYTKRJINHFQFSIMTXUNYFQN_FYNTSJ]UJSXJX·KFRNQ^¸RJFSXYMJXUTZXJFSI dependent children and dependent parents. ii) Perquisites shall be valued at actual cost, or if the cost is not ascertainable, the same shall be valued as per the applicable Income Tax Rules. IV. Other Reimbursements: Mr. Mohit Malhotra will also be entitled for the reimbursement of actual entertainment, travelling, boarding and lodging expenses NSHZWWJIG^MNRNSHTSSJHYNTS\NYMYMJ(TRUFS^ XGZXNSJXXFSIXZHMTYMJWGJSJÁYXFRJSNYNJXFSITYMJWUWN[NQJLJXFXNSKTWHJKWTR time-to-time. V. Overall Remuneration: 9MJFLLWJLFYJTKXFQFW^FSIUJWVZNXNYJXFXXUJHNÁJIFGT[JTWUFNIFIINYNTSFQQ^NSFHHTWIFSHJ\NYMYMJWZQJXTKYMJ(TRUFS^NSFS^ ÁSFSHNFQ^JFW\MNHMYMJ'TFWINSNYXFGXTQZYJINXHWJYNTSRF^UF^YTYMJ2FSFLNSL)NWJHYTW (MNJK*]JHZYN[J4KÁHJWKWTRYNRJYT 252 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18 NOTICE time, shall not exceed the limits prescribed from time-to-time under Section 197 and other applicable provisions of the Companies &HYWJFI\NYM8HMJIZQJ;YTYMJXFNI&HYFXRF^KTWYMJYNRJGJNSLGJNSKTWHJ VI. Minimum Remuneration: 3TY\NYMXYFSINSLYMJKTWJLTNSLNKNSFS^ÁSFSHNFQ^JFWIZWNSLYMJHZWWJSH^TKYMJYJSZWJTKYMJ2FSFLNSL)NWJHYTW (MNJK*]JHZYN[J 4KÁHJWYMJ(TRUFS^MFXSTUWTÁYXTWNYXUWTÁYXFWJNSFIJVZFYJYMJ(TRUFS^\NQQUF^WJRZSJWFYNTSFXXUJHNÁJIFGT[J Other Terms: 9MJ2FSFLNSL)NWJHYTWNXSTYQNFGQJYTWJYNWJG^WTYFYNTS9MJFUUTNSYRJSYNXYJWRNSFGQJG^LN[NSLYMWJJRTSYMX¸STYNHJNS\WNYNSLTS either side. 9MJ2FSFLNSL)NWJHYTWXMFQQSTYIZWNSLYMJHTSYNSZFSHJTKMNXJRUQT^RJSYTWFYFS^YNRJYMJWJFKYJWIN[ZQLJTWINXHQTXJYT\MTRXTJ[JW or make any use whatsoever, whether for his own or for any other purpose other than that of the Company, any information or knowledge obtained by him during his employment with the business or affairs or other matters whatsoever of the Company, and it XMFQQGJYMJ2FSFLNSL)NWJHYTW¸XJSIJF[TWIZWNSLYMJHTSYNSZFSHJTKMNXJRUQT^RJSYYTUWJ[JSYFS^TYMJWUJWXTSKWTRINXHQTXNSL the aforesaid information. .KYMJ2FSFLNSL)NWJHYTWGJLZNQY^TKXZHMNSFYYJSYNTSYTTWSJLQNLJSHJNSYMJHTSIZHYTKYMJGZXNSJXXTKYMJ(TRUFS^TWTKRNXHTSIZHY TWTKFS^TYMJWFHYTWTRNXXNTSNSHTSXNXYJSY\NYMMNXIZYNJXFX)NWJHYTWTWFS^GWJFHMTKYMJYJWRXTKMNXFUUTNSYRJSYFXNSYMJTUNSNTS TKFQQTYMJW)NWJHYTWXWJSIJWXMNXWJYNWJRJSYKWTRYMJTKÁHJIJXNWFGQJYMJTUNSNTSTKXZHMTYMJW)NWJHYTWXXMFQQGJÁSFQHTSHQZXN[JFSI GNSINSLTSYMJ2FSFLNSL)NWJHYTWFSIYMJ(TRUFS^RF^G^LN[NSLYMNWY^IF^X¸STYNHJNS\WNYNSLYTYMJ2FSFLNSL)NWJHYTWYJWRNSFYJ YMNXFUUTNSYRJSYFSIMJXMFQQHJFXJYTGJYMJ2FSFLNSL)NWJHYTWTKYMJ(TRUFS^ZUTSJ]UNWFYNTSTKXZHMSTYNHJ RESOLVED FURTHER THAT approval be and is hereby accorded to make application to Central Government, if necessary, as per YMJUWT[NXNTSXTK8JHYNTSX FSI TKYMJ&HYKTWTGYFNSNSLNYXFUUWT[FQYT\FWIXUF^RJSYTKWJRZSJWFYNTSFXFGT[JNSYMJJ[JSYNY J]HJJIXNSFS^ÁSFSHNFQ^JFWYMJQNRNYXUWT[NIJINS5FWY..TK8HMJIZQJ;YTYMJ&HY RESOLVED FURTHER THAT YMJ'TFWITK)NWJHYTWXTKYMJ(TRUFS^GJFSINXMJWJG^FZYMTWN_JIYTITFQQXZHMFHYXIJJIXRFYYJWX and things as in its absolute discretion, it may consider necessary, expedient or desirable for giving effect to the foregoing resolution, and to settle any question, or doubt that may arise in relation thereto.” 9THTSXNIJWFSINKYMTZLMYÁYYTUFXX\NYMTW\NYMTZYRTINÁHFYNTS XYMJKTQQT\NSLWJXTQZYNTSFXFSOrdinary Resolution: "RESOLVED THAT UZWXZFSY YT YMJ UWT[NXNTSX TK 8JHYNTS FSI FQQ TYMJW FUUQNHFGQJ UWT[NXNTSX TK YMJ (TRUFSNJX &HY FSI the Companies (Audit and Auditors) Rules, 2014 and the Companies (Cost Records and Audit) Rules, 2014 (including any statutory RTINÁHFYNTS XTWWJJSFHYRJSYYMJWJTKKTWYMJYNRJGJNSLNSKTWHJYMJWJRZSJWFYNTSUF^FGQJYT2X73FSFGMT^ (T(TXY&HHTZSYFSYX FUUTNSYJIFX(TXY&ZINYTWXG^YMJ'TFWITK)NWJHYTWXTKYMJ(TRUFS^YTHTSIZHYYMJFZINYTKYMJHTXYWJHTWIXTKYMJ(TRUFS^KTWYMJ ÁSFSHNFQ^JFW FRTZSYNSLYT` 7ZUJJX4SJ1FPM+N[J9MTZXFSITSQ^J]HQZXN[JTKYF]FSITZYTKUTHPJYTKJ]UJSXJX GJFSINXMJWJG^WFYNÁJIFSIHTSÁWRJI RESOLVED FURTHER THAT YMJ'TFWITK)NWJHYTWXTKYMJ(TRUFS^ NSHQZINSLNYXHTRRNYYJJYMJWJTKGJFSINXMJWJG^FZYMTWNXJIYTIT all acts and take all such steps as may be necessary, proper or expedient to give effect to this resolution." By Order of the Board of Directors For Godrej Properties Limited Sd/- Surender Varma *VTWHU`:LJYL[HY` *OPLM3LNHS6MÂJLY ICSI Membership No. A10428 Place : Mumbai )FYJI 2F^ 7JLNXYJWJI4KÁHJ ,TIWJO4SJ th+QTTW5NWTOXMFSFLFW Eastern Express Highway, Vikhroli (East), Mumbai - 400 079 (.3 1 2- 51( 9JQ +F] Website: www.godrejproperties.com Email : [email protected] 253 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18 GODREJ PROPERTIES LIMITED NOTICE NOTES: 1. A MEMBER ENTITLED TO ATTEND AND VOTE AT THE MEETING IS ENTITLED TO APPOINT A PROXY TO ATTEND AND VOTE ON A POLL INSTEAD OF HIMSELF/ HERSELF. SUCH A PROXY NEED NOT BE A MEMBER OF THE COMPANY. THE INSTRUMENT OF PROXY IN ORDER TO BE EFFECTIVE MUST BE RECEIVED BY THE COMPANY NOT LESS THAN 48 HOURS BEFORE THE COMMENCEMENT OF THE MEETING. A PROXY SO APPOINTED SHALL NOT HAVE ANY RIGHT TO SPEAK (;;/,4,,;05.(WLYZVUJHUHJ[HZHWYV_`VUILOHSMVMUV[TVYL[OHUÂM[`4LTILYZHUKOVSKPUNPUHNNYLNH[LUV[TVYL than ten percent of the total share capital of the Company carrying voting rights. A member holding more than ten percent of the total share capital of the Company carrying voting rights may appoint a single person as proxy and such person shall not act as a proxy for any other person or shareholder. &QQITHZRJSYXWJKJWWJIYTNSYMJFHHTRUFS^NSL3TYNHJFWJF[FNQFGQJKTWNSXUJHYNTSFYYMJ7JLNXYJWJI4KÁHJTKYMJ(TRUFS^IZWNSLTKÁHJ MTZWXTSFQQIF^XJ]HJUY8FYZWIF^X8ZSIF^XFSIUZGQNHMTQNIF^XZUYTYMJIFYJTKYMNXrd AGM. )ZWNSLYMJUJWNTIGJLNSSNSLMTZWXGJKTWJYMJYNRJÁ]JIKTWYMJHTRRJSHJRJSYTKYMJRJJYNSLFSIJSINSL\NYMYMJHTSHQZXNTSTKYMJ meeting, a member would be entitled to inspect the proxies lodged at any time during the business hours of the Company, provided that not less than three days of notice in writing is given to the Company. &SJ]UQFSFYTW^XYFYJRJSYUZWXZFSYYT8JHYNTSTKYMJ(TRUFSNJX&HYFXFRJSIJI YMJµ(TRUFSNJX&HY¶TWYMJµ&HY¶\NYM WJXUJHYYT.YJR3TXFSITKYMJSTYNHJXJYTZYFGT[JNXFSSJ]JIMJWJYT 9MJ IJYFNQX FX XYNUZQFYJI ZSIJW 7JLZQFYNTS TK 8*'. 1NXYNSL 4GQNLFYNTSX FSI )NXHQTXZWJ 7JVZNWJRJSYX 7JLZQFYNTSX FSI Secretarial Standards issued by the Institute of Company Secretaries of India, in respect of the directors seeking re-appointment under .YJR3TX TKYMNX3TYNHJFWJFSSJ]JI (TWUTWFYJ2JRGJWXNSYJSINSLYTFYYJSIYMJ&,2YMWTZLMYMJNWFZYMTWN_JIWJUWJXJSYFYN[JXFWJWJVZJXYJIYTXJSIFHJWYNÁJIHTU^TKYMJ GTFWIWJXTQZYNTSFZYMTWN_NSLYMJNWWJUWJXJSYFYN[JYTFYYJSIFSI[TYJTSYMJNWGJMFQKFYYMJRJJYNSL 2JRGJWXIJXNWTZXTKXJJPNSLFS^HQFWNÁHFYNTSXUJWYFNSNSLYTFLJSIFNYJRXFYYMJ&,2FWJWJVZJXYJIYTXJSINSYMJNWVZJXYNTSXXTFXYT WJFHMYMJ(TRUFS^¸X7JLNXYJWJI4KÁHJFYQJFXY IF^XGJKTWJYMJIFYJTKYMJ&,2XTYMFYYMJXFRJHFSGJXZNYFGQ^WJUQNJIYT 8. Members are requested to address all correspondence, including dividend matters, to the Registrar and Share Transfer Agents, 0FW[^ (TRUZYJWXMFWJ 5WN[FYJ 1NRNYJI 0FW[^ 8JQJSNZR 9T\JW' 5QTY 3T +NSFSHNFQ )NXYWNHY ,FHMNGT\QN 3FSFPWFRLZIF 8JWNQNSLLFRUFQQ^-^IJWFGFI µ0FW[^¶ 9. Members who wish to claim dividends, which had remained unpaid are requested to contact the Registrar and Share Transfer Agents, Karvy. Members are requested to note that the amount of dividend which remains unclaimed for a period of 7 years from the date of such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ÁQJSTRNSFYNTSNSYMJUWJXHWNGJI+TWR8-\NYM0FW[^.SWJXUJHYTKXMFWJXMJQINSIJRFYJWNFQN_J KTWRYMJSTRNSFYNTSRF^GJÁQJI\NYMYMJWJXUJHYN[J)JUTXNYTW^5FWYNHNUFSYX 9MJ(TRUFS^NXHTSHJWSJIFGTZYYMJJS[NWTSRJSYFSIZYNQN_JXSFYZWFQWJXTZWHJXNSFXZXYFNSFGQJ\F^9MJ2NSNXYW^TK(TWUTWFYJ&KKFNWX ,T[JWSRJSYTK.SINFMFXUJWRNYYJIHTRUFSNJXYTXJSITKÁHNFQITHZRJSYXYTYMJNW2JRGJWXJQJHYWTSNHFQQ^FXUFWYTKNYXLWJJSNSNYNFYN[JXNS corporate governance. 9TXZUUTWYYMJLWJJSNSNYNFYN[JTKYMJ2NSNXYW^TK(TWUTWFYJ&KKFNWXYMJ3TYNHJHTS[JSNSLYMJ&,2+NSFSHNFQ8YFYJRJSYX)NWJHYTWX¸7JUTWY &ZINYTWX¸7JUTWYJYHNXGJNSLXJSYG^JQJHYWTSNHRTIJYTYMTXJ2JRGJWX\MTXJJRFNQFIIWJXXJXFWJWJLNXYJWJI\NYMYMJ(TRUFS^ )JUTXNYTWNJXZSQJXXFS^2JRGJWMFXWJVZJXYJIKTWFUM^XNHFQHTU^TKYMJXFRJ2JRGJWXRF^STYJYMFYYMNX3TYNHJFSIYMJ&SSZFQ 7JUTWY \NQQFQXTGJF[FNQFGQJTSYMJ(TRUFS^¸X\JGXNYJwww.godrejproperties.com. In case you wish to get a physical copy of YMJ&SSZFQ7JUTWY^TZRF^XJSI^TZWWJVZJXYYT0FW[^FYJNS\FWIWNX%PFW[^HTRRJSYNTSNSL^TZW+TQNT3T)5.)FSI(QNJSY.) 2JRGJWX5WT]NJXXMTZQIGWNSLYMJ&YYJSIFSHJ8QNUIZQ^ÁQQJINSKTWFYYJSINSLYMJ&,2FSIFQXTYMJNWHTU^TKYMJ&SSZFQ7JUTWY2JRGJWX who have received the notice of AGM, Annual Report and Attendance Slip in electronic mode are requested to print the Attendance Slip FSIXZGRNYYMJIZQ^ÁQQJINS&YYJSIFSHJ8QNUFYYMJWJLNXYWFYNTSHTZSYJWYTFYYJSIYMJ&,2 254 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18 NOTICE .SHTRUQNFSHJ\NYMYMJ7ZQJTKYMJ(TRUFSNJX 2FSFLJRJSYFSI&IRNSNXYWFYNTS7ZQJXFSI8JHWJYFWNFQ8YFSIFWIXNXXZJIG^YMJ .SXYNYZYJTK(TRUFS^8JHWJYFWNJXTK.SINFYMJ(TRUFS^MFXHTSXNIJWJI/ZQ^ YTIJYJWRNSJYMJJQNLNGNQNY^TK2JRGJWXYT[TYJG^ electronic means or through physical ballot at the AGM (Cut off date). The persons whose names appear on the Register of Members/List TK'JSJÁHNFQ4\SJWXFXTSYMJ(ZYTKKIFYJ\TZQIGJJSYNYQJIYT[TYJYMWTZLMJQJHYWTSNHRJFSXTWYMWTZLMUM^XNHFQGFQQTYFYYMJ&,2 14. Members who have not registered their e-mail addresses so far, are requested to register their e-mail address with their depository participants for receiving all communication including Annual Report, Notices, Circulars, etc. from the Company electronically. 9MJ 8JHZWNYNJX FSI *]HMFSLJ 'TFWI TK .SINF 8*'. MFX RFSIFYJI YMJ XZGRNXXNTS TK 5JWRFSJSY &HHTZSY 3ZRGJW 5&3 G^ J[JW^ UFWYNHNUFSYNSXJHZWNYNJXRFWPJY2JRGJWXMTQINSLXMFWJXNSJQJHYWTSNHKTWRFWJYMJWJKTWJWJVZJXYJIYTXZGRNYYMJNW5&3YTYMJNW)JUTXNYTW^ Participants with whom they are maintaining their demat accounts. Members holding shares in physical form can submit their PAN to the Company / Karvy. .SHFXJTKOTNSYMTQIJWXFYYJSINSLYMJRJJYNSLTSQ^XZHMOTNSYMTQIJW\MTNXMNLMJWNSYMJTWIJWTKSFRJX\NQQGJJSYNYQJIYT[TYJ 17. In terms of Section 108 of the Companies Act read with Rule 20 of the Companies (Management and Administration) Rules, 2014 as FRJSIJIFSI7JLZQFYNTSTK8*'. 1NXYNSL4GQNLFYNTSXFSI)NXHQTXZWJ7JVZNWJRJSYX7JLZQFYNTSXYMJ(TRUFS^NXUWT[NINSLYMJ KFHNQNY^YTNYX2JRGJWXGJNSLJQNLNGQJYT[TYJYTJ]JWHNXJYMJNWWNLMYYT[TYJG^JQJHYWTSNHRJFSXTSFS^TWFQQTKYMJGZXNSJXXJXXUJHNÁJINS the accompanying Notice. Members can cast their votes on electronic voting system from any place other than the venue of the meeting (Remote e-voting). The persons who have become the Members of the Company after the dispatch of the Notice and Annual Report and YMJNWSFRJXFUUJFWNSYMJ7JLNXYJWTK2JRGJWX1NXYTK'JSJÁHNFQT\SJWXFXTSYMJ(ZYTKKIFYJNJ/ZQ^ RF^HTSYFHY0FW[^YT obtain the Notice of AGM and the login id and password for casting vote electronically or may cast their vote through physical ballot at the &,2)JYFNQXTKYMJUWTHJXXFSIRFSSJWTKWJRTYJJ[TYNSLFQTSL\NYMYMJ:XJW.)FSI5FXX\TWINXGJNSLXJSYYTFQQYMJ2JRGJWXFQTSL with the Notice. The Company has engaged the services of Karvy to provide e-voting facilities and for security and enabling the Members to cast their vote in a secure manner. (TRRJSHJRJSYTKJ[TYNSL +WTR FRTS/ZQ^ (TSHQZXNTSTKJ[TYNSL &YURTS&ZLZXY Instructions and other information relating to e-voting are as under: (a) Members receiving an email from Karvy: N 4UJSYMJJRFNQ\MNHMHTSYFNSX^TZWZXJW.)FSIUFXX\TWIKTWJ[TYNSL5QJFXJSTYJYMFYYMJUFXX\TWINXFSNSNYNFQUFXX\TWI NN 1FZSHMNSYJWSJYGWT\XJWG^Y^UNSLYMJ:71 https://evoting.karvy.com NNN *SYJWYMJQTLNSHWJIJSYNFQX NJ:XJW.)FSIUFXX\TWI.SHFXJTKUM^XNHFQKTQNT:XJW.)\NQQGJ*;*3 *[TYNSL*[JSY3ZRGJW]]]] KTQQT\JIG^KTQNTSZRGJW.SHFXJTKIJRFYFHHTZSY:XJW.)\NQQGJ^TZW)5.)FSI(QNJSY.)-T\J[JWNK^TZFWJFQWJFI^WJLNXYJWJI \NYM0FW[^KTWJ[TYNSL^TZHFSZXJ^TZWJ]NXYNSL:XJW.)FSIUFXX\TWIKTWHFXYNSL^TZW[TYJ (iv) After entering these details appropriately, click on “LOGIN”. [ >TZ\NQQST\WJFHMUFXX\TWIHMFSLJ2JSZ\MJWJNS^TZFWJWJVZNWJIYTRFSIFYTWNQ^HMFSLJ^TZWUFXX\TWI9MJSJ\UFXX\TWIXMFQQ HTRUWNXJRNSNRZR HMFWFHYJWX\NYMFYQJFXYTSJZUUJWHFXJ &?TSJQT\JWHFXJ F_TSJSZRJWNH FSIFXUJHNFQHMFWFHYJW % JYH9MJX^XYJR\NQQUWTRUY^TZYTHMFSLJ^TZWUFXX\TWIFSIZUIFYJ^TZWHTSYFHYIJYFNQXQNPJRTGNQJSZRGJWJRFNQ.) JYHTSÁWXYQTLNS>TZRF^FQXTJSYJWFXJHWJYVZJXYNTSFSIFSX\JWTK^TZWHMTNHJYTWJYWNJ[J^TZWUFXX\TWINSHFXJ^TZKTWLJYNY.Y is strongly recommended that you do not share your password with any other person and that you take utmost care to keep your UFXX\TWIHTSÁIJSYNFQ [N >TZSJJIYTQTLNSFLFNS\NYMYMJSJ\HWJIJSYNFQX (vii) On successful login, the system will prompt you to select the EVENT for Godrej Properties Limited. [NNN 4SYMJ[TYNSLUFLJJSYJWYMJSZRGJWTKXMFWJX \MNHMWJUWJXJSYXYMJSZRGJWTK[TYJXFXTSYMJ(ZYTKKIFYJZSIJWµ+47&,&.389¶ TWFQYJWSFYN[JQ^^TZRF^UFWYNFQQ^JSYJWFS^SZRGJWNSµ+47¶FSIUFWYNFQQ^NSµ&,&.389¶GZYYMJYTYFQSZRGJWNSµ+47&,&.389¶YFPJS YTLJYMJWXMTZQISTYJ]HJJI^TZWYTYFQXMFWJMTQINSLFXTSYMJ(ZYTKKIFYJFXRJSYNTSJIFGT[J>TZRF^FQXTHMTTXJYMJTUYNTS µ&'89&.3¶FSIYMJXMFWJXMJQI\NQQSTYGJHTZSYJIZSIJWJNYMJWMJFI 255 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18 GODREJ PROPERTIES LIMITED NOTICE (ix) Members holding multiple folios / demat accounts shall choose the voting process separately for each of the folios / demat accounts. ] ;TYNSLMFXYTGJITSJKTWJFHMNYJRTKYMJ3TYNHJXJUFWFYJQ^.SHFXJ^TZITSTYIJXNWJYTHFXY^TZW[TYJTSFS^XUJHNÁHNYJRNY\NQQ be treated as abstained. ]N >TZRF^YMJSHFXY^TZW[TYJG^XJQJHYNSLFSFUUWTUWNFYJTUYNTSFSIHQNHPTSµ8ZGRNY¶ ]NN &HTSÁWRFYNTSGT]\NQQGJINXUQF^JI(QNHPµ40¶YTHTSÁWRJQXJµ(&3(*1¶YTRTINK^4SHJ^TZMF[J[TYJITSYMJWJXTQZYNTS^TZ \NQQSTYGJFQQT\JIYTRTINK^^TZW[TYJ)ZWNSLYMJ[TYNSLUJWNTI2JRGJWXHFSQTLNSFS^SZRGJWTKYNRJXYNQQYMJ^MF[J[TYJITSYMJ Resolution(s). ]NNN (TWUTWFYJ.SXYNYZYNTSFQ2JRGJWX NJTYMJWYMFS.SIN[NIZFQX-:+37.JYHFWJFQXTWJVZNWJIYTXJSIXHFSSJIHJWYNÁJIYWZJHTU^ 5)++TWRFYTKYMJ'TFWI7JXTQZYNTS&ZYMTWNY^1JYYJWJYHYTLJYMJW\NYMFYYJXYJIXUJHNRJSXNLSFYZWJ XTKYMJIZQ^FZYMTWN_JI WJUWJXJSYFYN[J XYTYMJ8HWZYNSN_JWFYJRFNQ.) FPOFNSHX%LRFNQHTR\NYMFHTU^RFWPJIYTJ[TYNSL%PFW[^HTR9MJXHFSSJINRFLJ of the above mentioned documents should be in the naming format “Corporate Name_EVENT NO.” (b) Members receiving physical copy of the Notice [For Members whose email IDs are not registered with the Company/ Depository Participants] of AGM and Attendance Slip: (i) Initial Password is provided, as follows, at the bottom of the Attendance Slip. EVEN :8*7.) 5&88<47) (E-Voting Event Number) -- - (ii) Please follow all the steps from Sr. No (ii) to (xiii) above, to case vote. (c) In case a person has become a Member of the Company after dispatch of AGM Notice but on or before the Cut-Off date for E-voting i.e., July 26, 2018, he/she may obtain the User ID and Password in the manner as mentioned below: N .KYMJRTGNQJSZRGJWTKYMJRJRGJWNXWJLNXYJWJIFLFNSXY+TQNT3T)5.)(QNJSY.)YMJRJRGJWRF^XJSI828 2>*5<)!XUFHJ# *;TYNSL*[JSY3ZRGJW+TQNT3TTW)5.)(QNJSY.)YT *]FRUQJKTW38)1 2>*5<)!85&(*#.3 *]FRUQJKTW()81 2>*5<)!85&(*# Example for Physical: 2>*5<)!85&(*#==== NN .KJRFNQFIIWJXXTWRTGNQJSZRGJWTKYMJ2JRGJWNXWJLNXYJWJIFLFNSXY+TQNT3T)5.)(QNJSY.)YMJSTSYMJMTRJUFLJTK https://evoting.karvy.comYMJ2JRGJWRF^HQNHPµ+TWLTY5FXX\TWI¶FSIJSYJW+TQNT3TTW)5.)(QNJSY.)FSI5&3YTLJSJWFYJF password. NNN 2JRGJWRF^HFQQ0FW[^¸XYTQQKWJJSZRGJW N[ 2JRGJWRF^XJSIFSJRFNQWJVZJXYYTJ[TYNSL%PFW[^HTR-T\J[JW0FW[^XMFQQJSIJF[TZWYTXJSI:XJW.)FSI5FXX\TWIYTYMTXJ new Members whose mail ids are available. (d) Common Instructions: N *[TYNSLXMFQQSTYGJFQQT\JIGJ^TSIURTS&ZLZXY )ZWNSLYMJJ[TYNSLUJWNTI2JRGJWXTKYMJ(TRUFS^MTQINSL XMFWJXJNYMJWNSUM^XNHFQKTWRTWNSIJRFYJWNFQN_JIKTWRFXTS(ZYTKKIFYJRF^HFXYYMJNW[TYJJQJHYWTSNHFQQ^&UJWXTS\MTNXSTYF Member as on the Cut off date should treat this Notice for information purpose only. The remote evoting module shall be disabled for voting thereafter. Once the vote on a resolution is cast by the Members, the Members shall not be allowed to change it subsequently. NN .SHFXJTKFS^VZJW^LWNJ[FSHJUJWYFNSNSLYTWJRTYJJ[TYNSLUQJFXJ[NXNY-JQU +&6¸XFSIJ[TYNSLZXJWRFSZFQF[FNQFGQJYTYMJ IT\SQTFIXJHYNTSF[FNQFGQJFYYMJ0FW[^¸X\JGXNYJhttps://evoting.karvy.comTWHTSYFHYIJYFNQXTK0FW[^FYYTQQKWJJST or email at [email protected]. 256 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18 NOTICE (iii) The voting rights of the Members shall be in proportion to the paid-up value of their shares in the equity capital of the Company as on Cut off date. N[ 9MJ'TFWITK)NWJHYTWX µ'TFWI¶MFXFUUTNSYJI2W&XMNXM0ZRFW/FNSTK2X&0/FNS (T5WFHYNHNSL(TRUFS^8JHWJYFWNJXFXYMJ 8HWZYNSN_JWYTXHWZYNSN_JYMFYYMJWJRTYJJ[TYNSLUWTHJXXFSI[TYNSLFYYMJRJJYNSLNXHTSIZHYJINSFKFNWFSIYWFSXUFWJSYRFSSJW [ 9MJ8HWZYNSN_JWXMFQQ\NYMNSFUJWNTISTYJ]HJJINSLYMWJJ IF^XKWTRYMJHTSHQZXNTSTKYMJJ[TYNSLUJWNTIZSGQTHPYMJ[TYJXNSYMJ UWJXJSHJTKFYQJFXYY\T \NYSJXXJXSTYNSYMJJRUQT^RJSYTKYMJ(TRUFS^FSIXMFQQRFPJF8HWZYNSN_JW¸X7JUTWYTKYMJ[TYJXHFXY in favour or against, if any, and forward it to the Chairman of the Company. (vi) In case of Members who are entitled to vote but have not exercised their right to vote by electronic means, the Chairman will offer FSTUUTWYZSNY^YTXZHM2JRGJWXYT[TYJFYYMJ2JJYNSLKTWFQQGZXNSJXXJXXUJHNÁJINSYMJFHHTRUFS^NSL3TYNHJ+TWFGZSIFSY clarity, please note that the Members who have exercised their right to vote by electronic means may attend the AGM but shall not be entitled vote at the Meeting. A Member can opt for only single mode of voting i.e. either through remote e-voting or voting at the &,2.KF2JRGJWHFXYX[TYJXG^GTYMRTIJXYMJS[TYNSLITSJYMWTZLMJ[TYNSLXMFQQUWJ[FNQFSI'FQQTYXMFQQGJYWJFYJIFXNS[FQNI (vii) The Results of e-voting and poll voting at the meeting on resolutions shall be aggregated and declared on or after the AGM of the Company and the resolutions will be deemed to be passed on the AGM date subject to receipt of the requisite numbers of votes in favour of the Resolutions. [NNN 9MJ7JXZQYXIJHQFWJIFQTSL\NYMYMJ8HWZYNSN_JW¸X7JUTWY X\NQQGJF[FNQFGQJTSYMJ\JGXNYJTKYMJ(TRUFS^ www.godrejproperties.com) FSITS0FW[^¸X\JGXNYJ https://evoting.karvy.com) immediately after the declaration of the results and the same will be communicated YTYMJ'8*1NRNYJIFSIYMJ3FYNTSFQ8YTHP*]HMFSLJTK.SINF1NRNYJI 18. Route map showing directions to reach venue of the AGM is given at the end of the Annual Report. EXPLANATORY STATEMENT PURSUANT TO SECTION 102 OF THE COMPANIES ACT, 2013 ITEM NO. 4: 9MJ2JRGJWXFYYMJ&SSZFQ,JSJWFQ2JJYNSLMJQITS/ZQ^ FUUTNSYJI2W5NWTOXMF,TIWJOFXYMJ2FSFLNSL)NWJHYTW (MNJK*]JHZYN[J 4KÁHJW µ2) (*4¶TKYMJ(TRUFS^KTWFUJWNTITKYMWJJ^JFWX\NYMJKKJHYKWTR&UWNQ +ZWYMJWYMJ2JRGJWXTKYMJ(TRUFS^FYYMJ&SSZFQ,JSJWFQ2JJYNSLTKYMJ(TRUFS^MJQITS&ZLZXYFUUWT[JIYMJWJFUUTNSYRJSYTK 2W5NWTOXMF,TIWJOFX2) (*4TKYMJ(TRUFS^KTWFKZWYMJWUJWNTITKYMWJJ^JFWX\NYMJKKJHYKWTR&UWNQFSIXZGXJVZJSYQ^FUUWT[JI the re-designation of Mr. Pirojsha Godrej as Executive Chairman with effect from April 01, 2017. 9MJ 'TFWI FY NYX RJJYNSL MJQI TS 2F^ XZGOJHY YT YMJ FUUWT[FQ TK RJRGJWX MFI FUUWT[JI YMJ WJFUUTNSYRJSY TK 2W5NWTOXMF,TIWJOFX Accordingly, the approval of the Members of the Company is sought for re-appointment including remuneration payable to Mr. Pirojsha Godrej as Executive Chairman mentioned in the item no.4 of this Notice, with effect from April 01, 2018. The above may be treated as a written memorandum setting out the terms of re-appointment of Mr. Pirojsha Godrej as Executive Chairman UZWXZFSYYT8JHYNTS TKYMJ(TRUFSNJX&HY Nature of concern or interest of Directors: None of the other directors and/or key managerial personnel of your Company and their relatives, except Mr. Adi Godrej, Mr. Pirojsha Godrej, are HTSHJWSJITWNSYJWJXYJIÁSFSHNFQQ^TWTYMJW\NXJNS7JXTQZYNTSST9MJTYMJWWJQFYN[JXTK2W5NWTOXMF,TIWJORF^GJIJJRJIYTGJNSYJWJXYJI in the resolution to the extent of their shareholding in the Company. 9MJ'TFWIWJHTRRJSIXUFXXNSLTKYMJ7JXTQZYNTSXJYTZYFY.YJR3TTKYMNX3TYNHJ ITEM NO. 5 9MJ2JRGJWXTKYMJ(TRUFS^FY&SSZFQ,JSJWFQ2JJYNSLMJQITS&ZLZXYFUUTNSYJI2W2TMNY2FQMTYWFFXFS*]JHZYN[J)NWJHYTWTK YMJ(TRUFS^KTWFUJWNTITKYMWJJ^JFWX\NYMJKKJHYKWTR&UWNQFSIFQXTFUUWT[JIYMJWJIJXNLSFYNTSTK2W2TMNY2FQMTYWFFX2FSFLNSL )NWJHYTW (*4\NYMJKKJHYKWTR&UWNQ 9MJ'TFWIFYNYXRJJYNSLMJQITS2F^ XZGOJHYYTYMJFUUWT[FQTKRJRGJWXMFIFUUWT[JIYMJWJFUUTNSYRJSYTK2W2TMNY2FQMTYWFFX 257 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18 GODREJ PROPERTIES LIMITED NOTICE 2FSFLNSL)NWJHYTW (*4KTWFUJWNTITKYMWJJ^JFWXHTRRJSHNSLKWTR&UWNQ 9MJIJYFNQXTK2W2TMNY2FQMTYWFFXWJVZNWJIYTGJLN[JS ZSIJW8JHZWNYNJX&SI*]HMFSLJ'TFWITK.SINF 1NXYNSL4GQNLFYNTSXFSI)NXHQTXZWJ7JVZNWJRJSYX7JLZQFYNTSXFSI8JHWJYFWNFQ8YFSIFWIX issued by Institute of Company Secretaries of India are attached to the Notice. Accordingly, the approval of the Members of the Company is sought for re-appointment including remuneration payable to Mr. Mohit Malhotra FX2FSFLNSL)NWJHYTW (*4RJSYNTSJINSYMJNYJRSTTKYMNX3TYNHJ\NYMJKKJHYKWTR&UWNQ 9MJFGT[JRF^GJYWJFYJIFXF\WNYYJSRJRTWFSIZRXJYYNSLTZYYMJYJWRXTKWJFUUTNSYRJSYTK2W2TMNY2FQMTYWFFX2FSFLNSL)NWJHYTW (*4UZWXZFSYYT8JHYNTS TKYMJ(TRUFSNJX&HY Nature of concern or interest of Directors: None of the directors and/or key managerial personnel of your Company and their relatives, except Mr. Mohit Malhotra, are concerned or NSYJWJXYJIÁSFSHNFQQ^TWTYMJW\NXJNSYMJ7JXTQZYNTSST9MJTYMJWWJQFYN[JXTK2W2TMNY2FQMTYWFRF^GJIJJRJIYTGJNSYJWJXYJINSYMJ resolution to the extent of their shareholding in the Company. 9MJ'TFWIWJHTRRJSIXUFXXNSLTKYMJ7JXTQZYNTSXJYTZYFY.YJR3TTKYMNX3TYNHJ ITEM NO. 6: 9MJ'TFWITSYMJWJHTRRJSIFYNTSTKYMJ&ZINY(TRRNYYJJMFXFUUWT[JIYMJFUUTNSYRJSYFSIWJRZSJWFYNTSTK2X73FSFGMT^ (T(TXY &HHTZSYFSYXFX(TXY&ZINYTWXYTHTSIZHYYMJFZINYTKYMJHTXYWJHTWIXTKYMJ(TRUFS^KTWYMJÁSFSHNFQ^JFW .SFHHTWIFSHJ\NYMYMJ provisions of Section 148 of the Companies Act read with the Companies (Audit and Auditors) Rules, 2014, the remuneration payable to the (TXY&ZINYTWXMFXYTGJWFYNÁJIG^YMJ2JRGJWXTKYMJ(TRUFS^ &HHTWINSLQ^HTSXJSYTKYMJ2JRGJWXNXXTZLMYKTWUFXXNSL4WINSFW^7JXTQZYNTSFXXJYTZYFY.YJRX3TTKYMJ3TYNHJKTWWFYNÁHFYNTSTKYMJ WJRZSJWFYNTSUF^FGQJYTYMJ(TXY&ZINYTWXKTWYMJÁSFSHNFQ^JFW Nature of concern or interest of Directors: 3TSJTKYMJINWJHYTWXFSITWPJ^RFSFLJWNFQUJWXTSSJQTK^TZW(TRUFS^FSIYMJNWWJQFYN[JXFWJHTSHJWSJITWNSYJWJXYJIÁSFSHNFQQ^TWTYMJW\NXJ in the above Resolution. Pursuant to Regulation 36(3) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and Secretarial Standards issued by The Institute of Company Secretaries of India, the following information is furnished about the Directors proposed to be re-appointed/appointed. Brief Resume of the Directors Name of the Mr. Nadir B. Godrej Mr. Pirojsha Godrej Mr. Mohit Malhotra Director Particulars (DIN: 00066195) (DIN: 00432983) (DIN: 07074531) Age 40 Nationality Indian Indian Indian Date of &UWNQ 4HYTGJW &UWNQ Appointment Shares held in the Company 8\HSPÂJH[PVU 2W3FINW',TIWJOMTQIXF'FHMJQTW 2W5NWTOXMF,TIWJOMTQIXF'FHMJQTWX 2W 2FQMTYWF MTQIX F 'FHMJQTW·X of Science degree in chemical )JLWJJ NS *HTSTRNHX KWTR YMJ degree in Mechanical Engineering engineering from the Massachusetts 258 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18 NOTICE Name of the Mr. Nadir B. Godrej Mr. Pirojsha Godrej Mr. Mohit Malhotra Director Particulars (DIN: 00066195) (DIN: 00432983) (DIN: 07074531) Expertise Engineering and Management Management Management PUZWLJPÂJ functional Area Terms & N.A. 8UJHNÁJINS7JXTQZYNTS3TTKYMJ 8UJHNÁJINS7JXTQZYNTS3TTKYMJ Conditions of re- Notice Notice appointment/ variation of remuneration Remuneration Kindly refer the Corporate Kindly refer the Corporate Kindly refer the Corporate last drawn Governance Report Governance Report Governance Report Directorships ,TIWJO(TSXZRJW5WTIZHYX 8\FIIQJ5WTOJHYX5WN[FYJ Nil held in other Limited Limited Companies ,TIWJO.SIZXYWNJX1NRNYJI ,TIWJO4SJ5WJRNXJX 2FMNSIWFFSI2FMNSIWF1NRNYJI Management Private Limited 9MJ.SINFS-TYJQX(TRUFS^ ,TIWJO.S[JXYRJSY&I[NXJWX Limited Private Limited &XYJH1NKJXHNJSHJX1NRNYJI ,TIWJO(TSXZRJW5WTIZHYX Limited ,TIWJO&LWT[JY1NRNYJI 5WF[N_)J[JQTUJWX5WN[FYJ ,TIWJO 'T^HJ2FSZKFHYZWNSL Limited Company Limited 0FWZPFHMFQ)J[JQTUJWX5WN[FYJ (WJFRQNSJ)FNW^5WTIZHYX Limited Limited *WFSYMZX)J[JQTUJWX5WN[FYJ ,TIWJO9^XTS+TTIX1NRNYJI Limited .XUWF[F;JXYF5WN[FYJ1NRNYJI Chairman/ None &QQTYRJSY(TRRNYYJJ (TWUTWFYJ8THNFQ7JXUTSXNGNQNY^ Membership Chairman Committee - Member in other 2FSFLJRJSY(TRRNYYJJ 2FSFLJRJSY(TRRNYYJJ³ committees of Chairman Member the Board (TWUTWFYJ8THNFQ7JXUTSXNGNQNY^ Committee - Chairman 8YFPJMTQIJW7JQFYNTSXMNU Committee - Member Inter-se Mr. Pirojsha Godrej is nephew of Mr. 3JUMJ\TK2W/FRXM^I3,TIWJO None relationship with Nadir Godrej 2W3FINW',TIWJO other directors/ Key Managerial Personnel No. of Board +TZW +TZW +TZW meetings attended during the year 259 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18 GODREJ PROPERTIES LIMITED 9-.85&,*.8.39*39.43&11>1*+9'1&30 260 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18 PROXY FORM GODREJ PROPERTIES LIMITED (.3 1 2- 51( 9LNPZ[LYLK6MÂJL!,TIWJO4SJYM+QTTW5NWTOXMFSFLFW*FXYJWS*]UWJXX-NLM\F^ ;NPMWTQN *FXY2ZRGFN³ Email: [email protected] website: www.godrejproperties.com Form No. MGT-11 @5ZWXZFSYYT8JHYNTS TKYMJ(TRUFSNJX&HYFSIWZQJ TKYMJ(TRUFSNJX 2FSFLJRJSYFSI&IRNSNXYWFYNTS7ZQJXB Name of the Member Registered Address :- *RFNQ.) +TQNT3T(QNJSY.) )5.) I/We, being the member (s) of ...... shares of the above named company, hereby appoint:- 1. Name Address Signature *2FNQ.) Or failing him 2. Name Address Signature *2FNQ.) Or failing him Name Address Signature *2FNQ.) as my/our proxy to attend and vote (on a poll) for me/us and on my/our behalf at the Annual General Meeting of the Company, to be held on Thursday, August 02, 2018 at 2:00 p.m. at Godrej One, The Auditorium, Pirojshanagar, Eastern Express Highway, Vikhroli (East) , Mumbai - 400 079 and at any adjournment(s) thereof in respect of such resolutions as are indicated below: Resolution Nos. :- Sr. Resolutions Optional (see note 2) No For Against Abstain ORDINARY BUSINESS 1. &ITUYNTSTKYMJÁSFSHNFQXYFYJRJSYXKTWYMJ^JFWJSIJI2FWHM 2. 7JFUUTNSYRJSYTK2W3FINW',TIWJOFX)NWJHYTWQNFGQJYTWJYNWJG^WTYFYNTS &UUTNSYRJSYTK'87 (T115FX8YFYZYTW^&ZINYTWXTKYMJ(TRUFS^ SPECIAL BUSINESS 4. Re-appointment of Mr. Pirojsha Godrej as the Executive Chairman and revision in remuneration payable to him 7JFUUTNSYRJSY TK 2W 2TMNY 2FQMTYWF FX YMJ 2FSFLNSL )NWJHYTW (MNJK *]JHZYN[J4KÁHJWFSIWJ[NXNTSNSWJRZSJWFYNTSUF^FGQJYTMNR 7FYNÁHFYNTSTKWJRZSJWFYNTSUFNIYT(TXY&ZINYTWX Signed this ______day of ______2018 &KÁ] Revenue Stamp Signature of the Member ______ 8NLSFYZWJTKYMJ+NWXY5WT]^-TQIJW Signature of the Second Proxy Holder Signature of the Third Proxy Holder Note: 9MNXKTWRTKUWT]^NSTWIJWYTGJJKKJHYN[JXMTZQIGJIZQ^HTRUQJYJIFSIIJUTXNYJIFYYMJ7JLNXYJWJI4KÁHJTKYMJ(TRUFS^STYQJXXYMFS 48 hours before the commencement of the Meeting. .YNXTUYNTSFQYTNSINHFYJ^TZWUWJKJWJSHJ.K^TZQJF[JYMJ·KTW¸·FLFNSXY¸TW·FGXYFNS¸HTQZRSGQFSPFLFNSXYFS^TWFQQTKYMJWJXTQZYNTSX^TZW proxy will be entitled to vote in the manner as he / she may deem appropriate. VENUE OF THE MEETING The Auditorium, Godrej One, Pirojshanagar, Eastern Express Highway, Vikhroli (East), Mumbai 400 079. NOTES ______3rd Floor, Sudharsan Buildings, Old No. 86/5, New No. 92/5, Chamiers Road, Opp. to Hotel Sheraton Park, Chennai - 600 018 The images included in the Annual Report are relating to the following projects: PROJECT RERA REGISTRATION NUMBER RERA WEBSITE Godrej Elements P52100016626 https://maharera.mahaonline.gov.in/ Godrej Alive A P51700010303 Godrej Alive B P51700005281 Godrej Alive C P51700009993 Godrej Alive E P51700009992 Godrej Vihaa Phase 1 P51700002689 Godrej Vihaa Phase 2 P51700002442 Sky Gardens at Godrej Vihaa P51700013329 Godrej Vihaa Phase 5 P51700008346 The Trees, Residential Phase 1 P51800000165 The Trees Residential Phase 2 P51800000161 The Trees, Origins P51800000158 Godrej Prime P51800000519 Godrej Tranquil P51800000812 Godrej Meridien Phase 1 RC/REP/HARERA/GGM/2018/05 www.harera.in Godrej Meridien Phase 2 RC/REP/HARERA/GGM/2018/06 Godrej Nature Plus Phase 1 Regn No. 18 of 2018 dated 30.01.2018 *RGUHM5HÀHFWLRQV3KDVH PRM/KA/RERA/1251/446/PR/180329/002843 http://rera.karnataka.gov.in Godrej Nest Phase 1 UPRERAPRJ13521 http://www.up-rera.in/ Godrej Nest Phase 2 UPRERAPRJ14252