2016 - 17

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 ...... 31

Report on Corporate Governance ...... 75

Business Responsibility Report ...... 94

Standalone Financials ...... 105

Consolidated Financials ...... 179

Notice and Explanatory Statement ...... 257

This annual report is printed on Eco-Friendly Paper VISION

02 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2016-17 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.

The Trees, Vikhroli

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FINANCIAL HIGHLIGHTS CONTINUED SUCCESS IN BUSINESS DEVELOPMENT ‰
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Actual image 05 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2016-17 COMPANY INFORMATION

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Actual image 07 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2016-17 AWARDS & RECOGNITION

Awards received by Godrej Properties in FY2017

Best for Responsibilities of Management & the ‰

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Project & Individual Awards received in FY2017

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Project & Individual Awards received in FY2017

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Pirojsha Godrej CHAIRMAN Executive Chairman, ,TIWJO
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In the past two years, we were the largest publicly listed developer in India by booking value. While we are proud of this achievement, further increasing operational scale and efficiency is a critical goal for your company. Our goal is to consistently be amongst the top three developers by booking value in each city we operate in, but especially in Mumbai, NCR, Bangalore, and Pune.

Dear Shareholders, While the opportunity is immense, the competition from our capable peers, both domestic and international, will be strong. .¸I
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that are unable or unwilling to consistently deliver against these annually and has created a property sector worth $1.3 trillion factors will become increasingly irrelevant. The leaders in the in 2015. Compare this to the estimated 2015 size of $105 sector will have to combine consistent excellence in those billion for the Indian property sector, which Morgan Stanley areas with an ability to offer their customers differentiated estimates will exceed $500 billion over the next decade. Your product design and outstanding service experiences. The company’s presence in what might be the fastest growing country’s leading real estate developers will also have to be able RFOTW
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015 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2016-17 MANAGEMENT ).8(:88.43

&3&1>8.8

GLOBAL ECONOMY

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slowdown in China.

016 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2016-17 MANAGEMENTGodrej Garden City, DISCUSSION Ahmedabad & ANALYSIS

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INDIAN ECONOMY India continues to be one of the fastest growing large economies despite the slowdown due to the government’s 5JW
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017 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2016-17 unaccounted money, the impact of this move was felt across &KKTWIFGNQNY^
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Godrej Summit, Gurgaon

Actual image of the Clubhouse 018 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2016-17 MANAGEMENT DISCUSSION & ANALYSIS

The residential real estate NCR sector is going through a 9MJ
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businesses to the changing environment. While launches were already on a decline, owing to factors such as the increasing unsold inventory in the city, Bruhat RESIDENTIAL MARKET 'JSLFQZWZ
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to developers with strong balance sheets having access to in CY2016 to 244,680 units from 267,960 units in CY2015. institutional funding.

019 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2016-17 Middle income housing

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042 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2016-17 DIRECTORS’ REPORT FOR THE FINANCIAL YEAR ENDED MARCH 31, 2017

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045 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2016-17 IV. SHARE HOLDING PATTERN (EQUITY SHARE CAPITAL BREAKUP AS PERCENTAGE OF TOTAL EQUITY) i) Category-wise Share Holding

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------Investor Sub-total (B)(1) 1,78,77,240 - 1,78,77,240 8.27 2,53,92,209 - 2,53,92,209 11.74 3.47 046 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2016-17 DIRECTORS’ REPORT FOR THE FINANCIAL YEAR ENDED MARCH 31, 2017

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047 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2016-17 PP :OHYLOVSKPUNVM7YVTV[LYZ!

Sr. Shareholder’s Name :OHYLOVSKPUNH[[OLILNPUUPUNVM[OL`LHY :OHYLOVSKPUNH[[OLLUKVM[OL`LHY % No. (April 01, 2016) (March 31, 2017) change in share- 5VVM VM[V[HS VM:OHYLZ 5VVM VM[V[HS VM:OHYLZ -holding Shares :OHYLZVM[OL Pledged / Shares Shares Pledged / during Company encumbered VM[OL encumbered to total Company to total the year shares shares

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048 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2016-17 DIRECTORS’ REPORT FOR THE FINANCIAL YEAR ENDED MARCH 31, 2017

PPP *OHUNLPU7YVTV[LYZº:OHYLOVSKPUNWSLHZLZWLJPM`PM[OLYLPZUVJOHUNL

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049 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2016-17 ]P:OHYLOVSKPUN7H[[LYUVM[VW[LU:OHYLOVSKLYZV[OLY[OHU+PYLJ[VYZ7YVTV[LYZHUK/VSKLYZVM.+9Z and ADRs)

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051 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2016-17 Sr. Name Shareholding Date Increase/ Reason Cumulative Shareholding No. Decrease during the year(01/04/16 to 31/03/17) in share- 5VVM:OHYLZH[ VM[V[HS 5VVM VM[V[HS holding the beginning shares Shares shares (01/04/16)/ end VM[OL VM[OL VM[OL`LHY company Company (31/03/17) 9 8PFSINF
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052 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2016-17 DIRECTORS’ REPORT FOR THE FINANCIAL YEAR ENDED MARCH 31, 2017

] :OHYLOVSKPUNVM+PYLJ[VYZHUK2L`4HUHNLYPHS7LYZVUULS!

:OHYLOVSKPUNH[[OLILNPUUPUNVM Cumulative Shareholding during the year (April 01, 2016) the year (March 31, 2017) Sr. -VYLHJOVM[OLKPYLJ[VYZ No. and KMP VM[V[HS VM[V[HS 5VVM:OHYLZ :OHYLZVM[OL 5VVM:OHYLZ :OHYLZVM[OL Company Company

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053 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2016-17 :OHYLOVSKPUNH[[OLILNPUUPUNVM Cumulative Shareholding during the year (April 01, 2016) the year (March 31, 2017) Sr. -VYLHJOVM[OLKPYLJ[VYZ No. and KMP VM[V[HS VM[V[HS 5VVM:OHYLZ :OHYLZVM[OL 5VVM:OHYLZ :OHYLZVM[OL Company Company 6. Mr. Keki B. Dadiseth – Independent Director At the beginning of the year 3NQ  3NQ  )FYJ
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054 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2016-17 DIRECTORS’ REPORT FOR THE FINANCIAL YEAR ENDED MARCH 31, 2017

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B. REMUNERATION TO OTHER DIRECTORS: Amount in ` Sr 7HY[PJ\SHYZVM 5HTLVM+PYLJ[VY Total Amt No. Remuneration 1. Independent Mr. Keki B. Mrs. Lalita D. Mr. Amit B. Mr. Pranay Dr. Pritam Mr. S. Mr. Amitava Directors Dadiseth Gupte Choudhury D. Vakil Singh Narayan 4\ROLYQLL F Fee for attending        8,740,000 GTFWI

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Total Managerial 16,440,000 Remuneration (A+B) Overall Ceiling as `

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058 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2016-17 DIRECTORS’ REPORT FOR THE FINANCIAL YEAR ENDED MARCH 31, 2017

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070 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2016-17 DIRECTORS’ REPORT FOR THE FINANCIAL YEAR ENDED MARCH 31, 2017

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071 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2016-17 &33*=:7*
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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:

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072 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2016-17 DIRECTORS’ REPORT FOR THE FINANCIAL YEAR ENDED MARCH 31, 2017

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073 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2016-17 5HTL +LZPNUH[PVUVM:LUPVY Granted in FY Granted in FY Granted in FY Total Managerial Personnel to whom stock 2014-15 and 2015-16 and 2016-17 and outstanding options have been granted outstanding as at outstanding as at outstanding as at options as at March 31, 2017 March 31, 2017 March 31, 2017 March 31, 2017 2W
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074 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2016-17 REPORT ON CORPORATE GOVERNANCE 7*5479
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GOVERNANCE

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 075 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2016-17 b) Board meetings held and Directors’ attendance ;HISL!;OLKL[HPSZVMTLL[PUNZVM[OL)VHYKOLSKK\YPUN record [OLÂUHUJPHS`LHYHYLHZ\UKLY!

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Table 2: Details about the Company’s Directors and meetings attended by the Directors during the Financial Year 2016-17

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076 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2016-17 REPORT ON CORPORATE GOVERNANCE

Sr. 5HTLVM+PYLJ[VY Category Number Number Whether Directorships 5\TILYVM*OHPYTHUZOPWZ No. VM)VHYK VM)VHYK attended held in Memberships in Board Meetings Meetings last AGM companies Committees as held attended (held on incorporated at March 31, 2017 during the during August 9, in India as (Including GPL) Financial the Financial 2016) at March 31, Year 2016- Year 2016-17 2017(i)(ii) Chairmanship Memberships 17 (Including L_JS\KPUN GPL) Memberships VM Committees)  )W
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077 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2016-17 ;HISL!5\TILYVMLX\P[`ZOHYLZOLSKI`LHJOVM[OL+PYLJ[VYZVW[PVUZOLSKHUKKP]PKLUKWHPK

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Declaration by Managing Director & CEO

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GROUP positively impacting nearly 39,500 children. The Godrej Group has been at the forefront of philanthropic GODREJ GOOD & GREEN and social activities for several decades. Twenty-four per cent of the shares of the Godrej Group’s holding company, Godrej In conjunction with our vision of ‘Brighter Living’ for all & Boyce, are held in a trust that invests back in initiatives that stakeholders, we have developed a long-term vision for support the environment as well as improve the quality and playing an active part in creating a more inclusive and availability of healthcare and education. Through investment greener India. This vision has been named ‘Godrej Good and oversight by the trust, a large tract of mangrove forests & Green’, which is founded on shared value initiatives. The in Mumbai have been protected, developed, and maintained HTSHJUY
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for several years and serve as a second set of lungs for the practices that enhance the competitiveness of a company city. The Godrej Group has continually supported education while simultaneously advancing the economic and social and supports the Udayachal pre-primary and primary conditions in the communities in which it operates. As part of schools, which focus on the all-round development of this initiative, the Group aspires to create a more employable children. The Udayachal high school has been accredited Indian workforce, a greener India and innovate for good and with the International School Award in recognition of the green products by 2020. school incorporating global education into its curriculum and 8UJHNÁHFQQ^
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healthcare through the Godrej Memorial Hospital, which aims employment to provide quality healthcare at affordable costs. One such initiative is our partnership with ‘Smile Train’, a US-based ‰
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surgeries for children from low-income families. The Group energy consumption and increasing the proportion of offers surgery and hospitalisation to the patients free of cost. renewable energy resources Workplace Giving ‰
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pyramid. month from their salaries to the selected NGOs. These organizations are selected after due diligence from the Good We have a comprehensive CSR policy (http://www.godrej. com/policies.html) that outlines programmes and projects we & Green team. undertake to create a positive impact on our stakeholders. Teach For India We have a CSR committee in place to review, monitor, and Since its inception in 2009, GCPL has been supporting Teach provide strategic inputs for our sustainability efforts. for India, which is a nationwide movement of outstanding Over the years, we have aligned our sustainability efforts with college graduates and young professionals who will commit national priorities and the needs of our local communities 2 years to teach full-time in under-resourced schools and to deliver high-impact programmes that are easy to scale who will become lifelong leaders working from within various up. Our skill-building initiatives are linked to the National sectors towards the pursuit of equity in education. In 2009, Skill Development Mission. Furthermore, our community Teach for India began its journey in the classrooms with 78 development initiatives in areas surrounding our manufacturing Fellows (or teachers) in 2 cities across 34 schools and reached units are focused on improving the teaching–learning out to 3,000 children. The movement has grown in 2016-17 to environment.

094 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2016-17 BUSINESS RESPONSIBILITY REPORT

We have undertaken several integrated watershed 3. Registered address: development programmes in partnership with NABARD.
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relevant, implementable, and sustainable solutions for the 10. Markets served by the Company – Local/State/ organisation’s with which they work. National/International: National. SECTION A: GENERAL INFORMATION ABOUT THE COMPANY SECTION B: FINANCIAL DETAILS OF THE 1. Corporate Identity Number (CIN) of the Company: COMPANY L74120MH1985PLC035308 1. Paid up Capital (INR) ` 2. Name of the Company: 108 crore. 2. Total Turnover (INR): ` 457.13 crores Godrej Properties Limited

95 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2016-17  ;V[HSWYVÂ[HM[LY[H_LZ059!` 124.25 crores 3. Do any other entity/entities (e.g. suppliers, distributors etc.) that the Company does business 4. Total Spending on Corporate Social Responsibility with, participate in the BR initiatives of the *:9HZWLYJLU[HNLVMWYVÂ[HM[LY[H_ ! Company? If yes, then indicate the percentage of
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3PZ[VMHJ[P]P[PLZPU^OPJOL_WLUKP[\YLPUHIV]LOHZ SECTION D: BR INFORMATION been incurred:- 1. Details of Director/Directors responsible for BR
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(a) Details of the Director/Directors responsible following areas - for implementation of the BR policy/policies (a) Nipun skill enhancement training. 1. DIN Number (b) Sustainable Environment & Ecological Development 2. Name Society. 3. Designation (c) Rural tribal children’s education. No director has yet been nominated. (d) Research in pulmonary healthcare. (b) Details of the BR head (e) Developing Watershed project. No director has yet been nominated as BR Head. The Board constituted a Corporate Social Responsibility SECTION C: OTHER DETAILS (CSR) Committee comprising Mr. Pirojsha Godrej, 1. Does the Company have any Subsidiary Company/ Mr. Mohit Malhotra & Mr. Amit Choudhury as Companies? members. Mr. Anubhav Gupta & Ms. Ruhie Pande are steering the social responsibility initiatives. Yes, the Company has 20 subsidiaries as on March 31, 2017.

2. Do the Subsidiary Company/Companies participate in the BR Initiatives of the parent company? If yes, then indicate the number of such subsidiary company(s): GPL encourages subsidiaries to participate in Business Responsibility (BR) initiatives. The Business Responsibility policies of the subsidiaries are in line with the local requirements.

96 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2016-17 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 If 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.)

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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`&

97 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2016-17 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 9MJ
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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 performance Principle 2 : Businesses should provide goods 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 development for viewing this sreport? How frequently it is of products that are environmentally sustainable. As part of published? the vision, the Company aspires to develop products that consumes fewer resources (energy and water), emit fewer The Company publishes the information on BR in the greenhouse gases, and include recyclables, renewables, and/ Annual Report of the Company. The hyperlink to view or natural materials. 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):

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distribution achieved since the previous year contractors and business partners. throughout the value chain? 98 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2016-17 BUSINESS RESPONSIBILITY REPORT

(b) Reduction during usage by consumers (energy, Principle 3 : Businesses should promote the water) has been achieved since the previous wellbeing of all employees year? Code of Conduct:

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the timber is sourced responsibly A. Diversity, Anti-discrimination and Equal Opportunities Policy: - Materials with high recycled content given We recognize merit and perseverance and encourage preference, to avoid stress on virgin materials diversity in the Company. We do not tolerate any form 4. Has the Company taken any steps to procure goods of discrimination on the basis of nationality, race, colour, and services from local & small producers, including WJQNLNTS
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99 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2016-17 of Women at Workplace (Prevention, Prohibition and arrangements, part-time work, to name a few, go a long Redressal) Act, 2013 (the “Act”). We have constituted way in ensuring that our team members successfully an Internal Complaints Committee in accordance with strike a work-life balance. the Act and updated the Group’s policy to ensure that \TRJS
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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 working environment, equipment and systems of work for all team members. The Company provides the ( 4H[LYUP[`HUK7H[LYUP[`3LH]LHUK)LULÂ[Z7VSPJ`! information, training and supervision needed for this We are one of the leading companies in India to provide purpose. F
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100 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2016-17 BUSINESS RESPONSIBILITY REPORT

D. Sustenance Allowance Policy: 8. What percentage of your under mentioned employees were given safety & skill up- We also provide sustenance allowance to our specially gradation training in the last year? FGQJI
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1. Please indicate the Total number of employees Principle 4 : Businesses should respect the : 956 (including sub-staff) interests of, and be responsive towards all stakeholders, especially those who are 2. Please indicate the Total number of employees hired on temporary/contractual/casual basis : disadvantaged, vulnerable and marginalized 23  /HZ[OL*VTWHU`THWWLKP[ZPU[LYUHSHUKL_[LYUHS stakeholders? Yes/No 3. Please indicate the Number of permanent women employees : 256 Yes

4. Please indicate the Number of permanent  6\[ VM [OL HIV]L OHZ [OL *VTWHU` PKLU[PÂLK employees with disabilities : 0 the disadvantaged, vulnerable & marginalized stakeholders? 5. Do you have an employee association that is recognized by management : No
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needs of all its stakeholders, especially those who are 6. What percentage of your permanent employees disadvantaged, vulnerable and marginalized. are members of this recognized employee 3. Are there any special initiatives taken by the association? 0 Company to engage with the disadvantaged, 7. Please indicate the Number of complaints vulnerable and marginalized stakeholders. If so, relating to child labour, forced labour, provide details thereof, in about 50 words or so. PU]VS\U[HY` SHIV\Y ZL_\HS OHYHZZTLU[ PU [OL Under its Brighter Giving volunteering program, the SHZ[ÂUHUJPHS`LHYHUKWLUKPUNHZVU[OLLUK volunteers were partnered with local NGOs that serve VM[OLÂUHUJPHS`LHY diverse communities and work on women empowerment, education, holistic child development through mentoring Sr. Category No of No of and working with differently abled people. No. complaints complaints ÂSLKK\YPUN pending as GPL volunteers worked on various projects with NGOs, [OLÂUHUJPHS on end of the including designing their marketing strategies, creating year ÂUHUJPHS`LHY HR policies and organizational structure, teaching basic design skills and conducting career counseling sessions 1. Child labour/ Nil Nil for adolescents from marginalized communities. With forced labour/ 6-12 month commitments, employees have been able to involuntary create an impact in their projects. labour Employees also participated in Standard Chartered 2. 8J]ZFQ
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101 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2016-17 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.

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of organizations such as Godrej and hence incentivize education. This was followed by an educational trip to the More information on our Good & Green goals and programs mangroves. can be found at: http://www.godrejgoodandgreen.com. Principle 5 : Businesses should respect and 2. Does the Company have strategies/ initiatives promote human rights to address global environmental issues such as 1. Does the policy of the Company on human rights 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 the team members in the Company. For its subsidiaries and UWJ[NTZX
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- Soil Erosion control measures to avoid any Principle 7 : Businesses, when engaged in contamination of the site and/or surrounding areas PUÃ\LUJPUNW\ISPJHUKYLN\SH[VY`WVSPJ`ZOV\SK - Retaining at least 15-20% of the natural topography, do so in a responsible manner ensures minimum impact to environment 1. Is your Company a member of any trade and - Developing over virgin ground creates issues for chamber or association? If Yes, Name only those water percolation into the ground. This is taken care major ones that your business deals with: of by taking proper measures for rainwater harvesting GPL ensures that its policy consists of the highest degree and recharge. of responsible and ethical behaviour and works with collective platforms such as trade and industry chambers 4. Does the Company have any project related to and associations to raise matters with the relevant Clean Development Mechanism? If so, provide government bodies. GPL is a member of CII, FICCI, and details thereof, in about 50 words or so. Also, if Yes, other trade associations. whether any environmental compliance report is ÂSLK& 2. Have you advocated/lobbied through above associations for the advancement or improvement - Godrej One and Godrej BKC both use Solar of public good? Yes/No; PV Panels to generate a part of their electricity requirement on-site  0M`LZZWLJPM`[OLIYVHKHYLHZKYVWIV_!.V]LYUHUJL and Administration, Economic Reforms, Inclusive 5. Has the Company undertaken any other initiatives Development Policies, Energy Security, Water, Food VUµJSLHU[LJOUVSVN`LULYN`LMÂJPLUJ`YLUL^HISL Security, Sustainable Business Principles, Others) energy, etc. Y/N. If yes, please give hyperlink for web page etc. GPL has representation through CII and other trade associations for advancement/improvement of public - Godrej Prana, Pune: Uses Solar PV Panels to good. accommodate the Lighting and Switch Load KTW
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126 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2016-17 NOTES FORMING PART OF FINANCIAL STATEMENTS

Y :LNTLU[YLWVY[PUN

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127 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2016-17 GODREJ PROPERTIES LIMITED

NOTES FORMING PART OF FINANCIAL STATEMENTS

5V[L7YVWLY[`7SHU[ ,X\PWTLU[HUK0U[HUNPISL(ZZL[Z .37
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128 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2016-17 NOTES FORMING PART OF FINANCIAL STATEMENTS

.37
NS
(WTWJ .96::)36*2 +,79,*0(;065 5,;)36*2 As at (WYPS Additions Deductions As at Upto Upto As at As at Particulars  For the during during the 4HYJO (WYPS Deductions 4HYJO 4HYJO (WYPS 9LMLY year the year year      5V[LP ILSV^ M0U[HUNPISL(ZZL[Z 1NHJSHJX

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      Total    

.37

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.37


129 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2016-17 GODREJ PROPERTIES LIMITED

NOTES FORMING PART OF FINANCIAL STATEMENTS

5V[L0U]LZ[TLU[ZPU:\IZPKPHYPLZ1VPU[=LU[\YLZ (ZZVJPH[L .37
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 130 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2016-17 NOTES FORMING PART OF FINANCIAL STATEMENTS

.37
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 131 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2016-17 GODREJ PROPERTIES LIMITED

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 133 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2016-17 GODREJ PROPERTIES LIMITED

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Company)  



139 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2016-17 GODREJ PROPERTIES LIMITED

NOTES FORMING PART OF FINANCIAL STATEMENTS

M 9PNO[ZWYLMLYLUJLZHUKYLZ[YPJ[PVUZH[[HJOLK[V,X\P[`ZOHYLZ

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230

(iii) 
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on May 31, 2017    







(vi) 
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 140 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2016-17 NOTES FORMING PART OF FINANCIAL STATEMENTS

4HYJO 2FWHM

 &UWNQ

 Particulars No. of INR 3T
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3T
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vesting on January 1, 2020  











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on March 1, 2020  











.37

WJUWJXJSYX
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.37


141 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2016-17 GODREJ PROPERTIES LIMITED

NOTES FORMING PART OF FINANCIAL STATEMENTS

5V[L 6[OLY,X\P[`
.37
NS
(WTWJ Particulars 4HYJO 2FWHM

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Closing Balance 


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 Additions during the year 

Closing Balance  

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 Closing Balance  

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Additions during the year  


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 Closing Balance  

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Closing Balance   

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 Additions during the year 


Closing Balance 
  


142 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2016-17 NOTES FORMING PART OF FINANCIAL STATEMENTS

P *HWP[HS9LZLY]L

(FUNYFQ
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 Deposits (Unsecured) From Shareholders 




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143 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2016-17 GODREJ PROPERTIES LIMITED

NOTES FORMING PART OF FINANCIAL STATEMENTS

5V[L)VYYV^PUNZ*\YYLU[ .37
NS
(WTWJ Particulars 4HYJO 2FWHM

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144 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2016-17 NOTES FORMING PART OF FINANCIAL STATEMENTS

[
8JHZWJI

145 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2016-17 GODREJ PROPERTIES LIMITED

NOTES FORMING PART OF FINANCIAL STATEMENTS

]]
.37

(WTWJ
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5V[L6[OLY*\YYLU[5VU-PUHUJPHS3PHIPSP[PLZ .37
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146 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2016-17 NOTES FORMING PART OF FINANCIAL STATEMENTS

5V[L7YV]PZPVUZ*\YYLU[ .37
NS
(WTWJ Particulars 4HYJO 2FWHM

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.37

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QJXX
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.37


147 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2016-17 GODREJ PROPERTIES LIMITED

NOTES FORMING PART OF FINANCIAL STATEMENTS

5V[L*VZ[VM:HSLZ .37
NS
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.37

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.37


148 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2016-17 NOTES FORMING PART OF FINANCIAL STATEMENTS

5V[L6[OLY,_WLUZLZ .37
NS
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 Consultancy Charges 

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NOTES FORMING PART OF FINANCIAL STATEMENTS

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NOTES FORMING PART OF FINANCIAL STATEMENTS

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152 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2016-17 NOTES FORMING PART OF FINANCIAL STATEMENTS

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153 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2016-17 GODREJ PROPERTIES LIMITED

NOTES FORMING PART OF FINANCIAL STATEMENTS

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154 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2016-17 NOTES FORMING PART OF FINANCIAL STATEMENTS

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156 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2016-17 NOTES FORMING PART OF FINANCIAL STATEMENTS

Exposure to liquidity risk

9MJ
KTQQT\NSL
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YMJ
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HTSYWFHYZFQ
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IFYJ .37
NS
(WTWJ
*VU[YHJ[\HSJHZOÃV^Z *HYY`PUN 4HYJO >P[OPU More than Amount Total `LHYZ `LHYZ months `LHYZ Financial Liabilities 5VU*\YYLU[
9WFIJ
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9WFIJ
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+NSFSHNFQ
        1NFGNQNYNJX .37
NS
(WTWJ
(TSYWFHYZFQ
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Carrying 4HYJO Within 12 2TWJ
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Amount Total 
^JFWX 
^JFWX months years Financial Liabilities *\YYLU[ Borrowings















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(ZWWJSY
+NSFSHNFQ











 1NFGNQNYNJX .37
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Carrying (WYPS Within 12 2TWJ
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Amount Total 
^JFWX 
^JFWX months years Financial Liabilities 5VU*\YYLU[ Borrowings















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*\YYLU[ Borrowings















9WFIJ
5F^FGQJX














4YMJW
(ZWWJSY
+NSFSHNFQ











 1NFGNQNYNJX  PPP 4HYRL[9PZR 

2FWPJY
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  H *\YYLUJ`9PZR 


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157 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2016-17 GODREJ PROPERTIES LIMITED

NOTES FORMING PART OF FINANCIAL STATEMENTS

  I 0U[LYLZ[9H[L9PZR

.SYJWJXY
WFYJ
WNXP
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9MJ
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(TRUFS^¸X
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Exposure to interest rate risk


9MJ
NSYJWJXY
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(TRUFS^¸X
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ÁSFSHNFQ
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RFSFLJRJSY
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FX
KTQQT\X .37
NS
(WTWJ Particulars 4HYJO 2FWHM

 &UWNQ

 Financial Liabilities Variable rate instruments Borrowings
1TFS
7JUF^FGQJ
TS
)JRFSI  



Term Loans 





4YMJW
1TFSX 



Fixed rate instruments Borrowings
)JUTXNYX 




Term Loans  




1TFS
KWTR
7JQFYJI
5FWY^  




4YMJW
1TFSX  



(ZWWJSY
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TK
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5ZY
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Financial Assets Fixed rate instruments +N]JI
)JUTXNYX  



8JHZWNY^
)JUTXNYX  



1TFSX

&I[FSHJX
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,.1
*845
9WZXY 



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NS
)JGJSYZWJX  



 


 -HPY]HS\LZLUZP[P]P[`HUHS`ZPZMVYÂ_LKYH[LPUZ[Y\TLU[Z 


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9MNX
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9MJ
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IJGY
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YMJ
UJWNTI 158 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2016-17 NOTES FORMING PART OF FINANCIAL STATEMENTS

Particulars 7YVÂ[VY3VZZ059PU*YVYL )7PUJYLHZL )7KLJYLHZL 4HYJO Financial Liabilities ;FWNFGQJ
WFYJ
NSXYWZRJSYX Borrowings


*HZOÃV^ZLUZP[P]P[`UL[


4HYJO Financial Liabilities ;FWNFGQJ
WFYJ
NSXYWZRJSYX Borrowings


*HZOÃV^ZLUZP[P]P[`UL[




9MJ
(TRUFS^
ITJX
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.37
NS
(WTWJ

Particulars 4HYJO 2FWHM

 &UWNQ

 3JY
)JGY  



9TYFQ
*VZNY^  



3JY
)JGY
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*VZNY^
WFYNT 



5V[L ,TWSV`LL:[VJR6W[PVU7SHU )ZWNSL
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ÁSFSHNFQ
^JFW
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2FWHM

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(TRUFS^
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*RUQT^JJ
8YTHP
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5QFS
,51
*845
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)NWJHYTWX
8MFWJMTQIJWX
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\MNHM
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FQQTYRJSY
TK

TUYNTSX
HTS[JWYNGQJ
NSYT

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8MFWJX
TK
.37

JFHM
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TK
,TIWJO
5WTUJWYNJX
1NRNYJI
FSI
NYX
8ZGXNINFW^
(TRUFSNJX
YMJ
5FWYNHNUFYNSL
(TRUFSNJX
\NYM
JKKJHY
KWTR
)JHJRGJW

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8HMJRJ
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*845
9WZXY
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1NRNYJI
9MJ
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TK
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5FWYNHNUFYNSL
(TRUFSNJX

Particulars No. of Options >LPNO[LK(]LYHNL 4HYJO 2FWHM

 &UWNQ

 Exercise Price 4UYNTSX
4ZYXYFSINSL
FY
YMJ
GJLNSSNSL
TK
   .37


UQZX
NSYJWJXY
the year till March 31, 2012) 4UYNTSX
LWFSYJI 



 4UYNTSX
J]JWHNXJI 

 1JXX

+TWKJNYJI

1FUXJI
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 112,000  KTW
7JNXXZJ 4UYNTSX
4ZYXYFSINSL
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UQZX
NSYJWJXY
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March 31, 2012) 9MJ
J]JWHNXJ
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TK
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,51
*845
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J]UNWJI
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)JHJRGJW


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XYFSIX
YJWRNSFYJI
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9WZXY
MF[J
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IZWNSL
YMJ
^JFW

159 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2016-17 GODREJ PROPERTIES LIMITED

NOTES FORMING PART OF FINANCIAL STATEMENTS

5V[L,TWSV`LL:[VJR.YHU[:JOLTL

9MJ
(TRUFS^
NSXYNYZYJI
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8HMJRJ
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No. of Options Weighted Weighted Particulars H]LYHNL,_LYJPZL H]LYHNL:OHYL 4HYJO 2FWHM

 &UWNQ

 7YPJL059 7YPJL059 4UYNTSX
4ZYXYFSINSL
FY
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    GJLNSSNSL
TK
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^JFW 4UYNTSX
LWFSYJI
   1JXX

4UYNTSX
J]JWHNXJI

    1JXX

4UYNTS
QFUXJI
    4UYNTSX
4ZYXYFSINSL
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   year end I
9MJ
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2FWHM


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.37

5WJ[NTZX
^JFW

.37

UJW
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5WJ[NTZX
>JFW

.37

UJW
XMFWJ
FSI
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\JNLMYJI
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HTSYWFHYZFQ
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2FWHM


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^JFWX
5WJ[NTZX
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^JFWX
5WJ[NTZX
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^JFWX J
9MJ
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.37

5WJ[NTZX
^JFW

.37

9MJ
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^JFW
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2FWHM



Particulars 4HYJO 2FWHM

 Description of the Inputs used )N[NIJSI
^NJQI
  )N[NIJSI
^NJQI
TK
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[V`LHYZ 1 to 3 years JFW

.37

(WTWJ

160 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2016-17 NOTES FORMING PART OF FINANCIAL STATEMENTS

5V[L3LHZLZ  

H
9MJ
(TRUFS^¸X
XNLSNÁHFSY
QJFXNSL
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1JFXJ
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9MJ
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UWJRNXJX
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TUJWFYNSL
QJFXJX
FWJ
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NS
(WTWJ Particulars 4HYJO 2FWHM

 &UWNQ

 Future minimum lease receipts under operating leases Not later than 1 year   
1FYJW
YMFS

^JFW
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^JFWX     
1FYJW
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^JFWX    I
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QJFXJX
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FX
ZSIJW
.37
NS
(WTWJ Particulars 4HYJO 2FWHM

 &UWNQ

 Future minimum lease payments under operating leases Not later than 1 year   


1FYJW
YMFS

^JFW
FSI
STY
QFYJW
YMFS

^JFWX   
1FYJW
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161 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2016-17 GODREJ PROPERTIES LIMITED

NOTES FORMING PART OF FINANCIAL STATEMENTS

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163 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2016-17 GODREJ PROPERTIES LIMITED

NOTES FORMING PART OF FINANCIAL STATEMENTS

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164 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2016-17 NOTES FORMING PART OF FINANCIAL STATEMENTS

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165 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2016-17 GODREJ PROPERTIES LIMITED

NOTES FORMING PART OF FINANCIAL STATEMENTS

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166 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2016-17 NOTES FORMING PART OF FINANCIAL STATEMENTS

.37
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 167 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2016-17 GODREJ PROPERTIES LIMITED

NOTES FORMING PART OF FINANCIAL STATEMENTS

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168 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2016-17 NOTES FORMING PART OF FINANCIAL STATEMENTS

.37
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 169 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2016-17 GODREJ PROPERTIES LIMITED

NOTES FORMING PART OF FINANCIAL STATEMENTS

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170 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2016-17 NOTES FORMING PART OF FINANCIAL STATEMENTS

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171 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2016-17 GODREJ PROPERTIES LIMITED

NOTES FORMING PART OF FINANCIAL STATEMENTS

5V[L:WLJPÂLK)HUR5V[LZ+PZJSVZ\YL   

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.37

Other Denomination Particualars SBNs Total Notes *SVZPUNJHZOPUOHUKHZVU5V]LTILY 






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172 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2016-17 NOTES FORMING PART OF FINANCIAL STATEMENTS

Sr. 5HTLVM[OL*VTWHU` *V\U[Y`VM Percentage of Holding No. Incorporation 4HYJO 2FWHM

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173 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2016-17 GODREJ PROPERTIES LIMITED

NOTES FORMING PART OF FINANCIAL STATEMENTS

Sr. 5HTLVM[OL*VTWHU` *V\U[Y`VM Percentage of Holding No. Incorporation 4HYJO 2FWHM

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174 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2016-17 NOTES FORMING PART OF FINANCIAL STATEMENTS

.37
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.37
 175 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2016-17 GODREJ PROPERTIES LIMITED

NOTES FORMING PART OF FINANCIAL STATEMENTS

.37
NS
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176 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2016-17 NOTES FORMING PART OF FINANCIAL STATEMENTS

.37
NS
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177 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2016-17 GODREJ PROPERTIES LIMITED

This page has been intentionally left blank

178 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2016-17 INDEPENDENT AUDITOR’S REPORT

TO THE MEMBERS OF GODREJ PROPERTIES LIMITED

Report on the Consolidated Ind AS Financial Statements

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179 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2016-17 GODREJ PROPERTIES LIMITED

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ANNEXURE A TO THE INDEPENDENT AUDITOR’S REPORT

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183 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2016-17 GODREJ PROPERTIES LIMITED

(43841.)&9*)
'&1&3(*
8-**9
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INR (in Crore) Particulars Note As at As at As at March 31, 2017 March 31, 2016 April 1, 2015 ASSETS Non Current Assets Property, Plant and Equipment 2 74.79



Capital Work-in-Progress 2 0.01



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0.04 - 

Other Intangible Assets 2 27.23



Intangible Assets Under Development 2 0.02



Investment In Joint Ventures And Associate 3 81.40



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1TFSX 5 74.72




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Total Non Current Assets 862.57   Current Assets Inventories 10 3,966.12



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Trade Receivables 12 221.82



Cash And Cash Equivalents 13 73.82



Bank Balances Other Than Above  36.58




1TFSX 15 741.67




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Total Current Assets 6,316.52   TOTAL ASSETS 7,179.09


EQUITY AND LIABILITIES EQUITY Equity Share Capital  108.18



Other Equity 19 1,895.55



Non Controlling Interest  - -

Total Equity 2,003.73



LIABILITIES Non Current Liabilities +NSFSHNFQ
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Trade Payables 21 0.52 -

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Total Non Current Liabilities 482.18



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Trade Payables  467.89




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Total Current Liabilities 4,693.18



Total Liabilities 5,175.36



TOTAL EQUITY AND LIABILITIES 7,179.09



Accounting Policies 1 9MJ

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 184 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2016-17 (43841.)&9*)
89&9*2*39
4+
574+.9

1488
+47
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2&7(-

2017

INR (in Crore) Particulars Note For the Year Ended +TW
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March 31, 2017 March 31, 2016 INCOME Revenue from Operations 29 1,582.93

Other Income 30 125.42

Total Income 1,708.35

EXPENSES Cost of Sales 31 1,080.90

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Depreciation and Amortisation 2 14.50

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Total Expenses 1,448.56

7YVÂ[ILMVYLZOHYLVMWYVÂ[SVZZPU1VPU[]LU[\YLZHUK 259.79

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Earnings Per Equity Share (Amount in INR) Basic 35 9.60

Diluted 35 9.55

Accounting Policies 1 9MJ

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 185 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2016-17 GODREJ PROPERTIES LIMITED

89&9*2*39
4+
(-&3,*8
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 a) Equity Share Capital INR (in Crore) Particulars As at As at March 31, 2017 March 31, 2016 Balance at the beginning of the reporting year 108.13

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Balance at the end of the reporting year 108.18

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 -




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 Income Balance as at March 7.20 132.62 1,699.22 3.69 53.19 - (0.37) 1,895.55 - 1,895.55 31, 2017 9MJ
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89&9*2*39
4+
(&8-
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+47
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INR (in Crore) Particulars For the Year Ended +TW
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Diminution in value of investments -

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 6WLYH[PUN7YVÂ[ILMVYL^VYRPUNJHWP[HSJOHUNLZ 255.30

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187 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2016-17 GODREJ PROPERTIES LIMITED

(43841.)&9*)
89&9*2*39
4+
(&8-
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+47
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 Net Cash Flow from Financing Activities 334.74
 Net Increase in Cash & Cash Equivalent (217.44)

Cash & Cash Equivalent - Opening Balance 36.68
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Cash & Cash Equivalent - Closing Balance (180.76)

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Note 1

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NOTES FORMING PART OF CONSOLIDATED FINANCIAL STATEMENTS

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NOTES FORMING PART OF CONSOLIDATED FINANCIAL STATEMENTS c) Intangible Assets

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NOTES FORMING PART OF CONSOLIDATED FINANCIAL STATEMENTS

v) Equity investments

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iv) Derecognition

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iv) At least 10 percent of the contract consideration is realised at the reporting date in respect of such contracts and it is WJFXTSFGQJ
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199 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2016-17 GODREJ PROPERTIES LIMITED

NOTES FORMING PART OF CONSOLIDATED FINANCIAL STATEMENTS l) Leases

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201 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2016-17 GODREJ PROPERTIES LIMITED

NOTES FORMING PART OF CONSOLIDATED FINANCIAL STATEMENTS

Note 2 Property, Plant & Equipment and Other Intangible Assets INR (in Crore) GROSS BLOCK DEPRECIATION NET BLOCK As at Additions Deductions As at Upto Upto As at As at Particulars For the April 1, during during the March 31, March 31, Deductions March 31, March 31, March 31, year 2016 the year year 2017 2016 2017 2017 2016 a) Property, Plant & Equipment 1FSI

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Total Property Plant & Equipment 89.06 8.66 1.48 96.24 11.30 11.54 1.39 21.44 74.79 77.77 b) Other Intangible Assets 1NHJSHJX

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Total Other Intangible 31.66 1.26 - 32.92 2.74 2.96 - 5.70 27.23 28.92 Assets c) Capital Work-in-progress



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INR (in Crore) GROSS BLOCK DEPRECIATION NET BLOCK As at April 1, Additions Deductions As at Upto Upto As at As at Particulars 2015 For the during during the March 31, April 1, Deductions March 31, March 31, April 1, (Refer year the year year 2016 2015 2016 2016 2015 Note (i) below) e) Property, Plant & Equipment 1FSI

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- Total Property Plant & Equipment 10.36 79.16 0.46 89.06 - 11.45 0.14 11.30 77.77 10.36 .37

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202 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2016-17 NOTES FORMING PART OF CONSOLIDATED FINANCIAL STATEMENTS

INR (in Crore) GROSS BLOCK DEPRECIATION NET BLOCK As at April 1, Additions Deductions As at Upto Upto As at As at Particulars 2015 For the during during the March 31, April 1, Deductions March 31, March 31, April 1, (Refer year the year year 2016 2015 2016 2016 2015 Note (i) below) f) Other Intangible Assets 1NHJSXJX

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Total Other Intangible 30.53 1.13 - 31.66 - 2.74 - 2.74 28.92 30.53 Assets g) Capital Work-in-progress 0.21 57.13 h) Intangible Assets under Development 0.32 0.10

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5V[LP!;HISLZOV^PUNPUMVYTH[PVUYLNHYKPUNNYVZZISVJRVMHZZL[ZHUKHJJ\T\SH[LKKLWYLJPH[PVUHUKHTVY[PZH[PVU of Property, Plant and Equipment and Intangible Assets under Indian GAAP as on April 1, 2015 which is adjusted as the Gross block under Ind AS as on April 1, 2015

As at April 1, 2015 INR (in Crore) Accumulated Particulars Gross Block Depreciation & Net Block ( At Cost) Amortisation Property, Plant and Equity 1FSI

-

Building





1JFXJMTQI
.RUWT[JRJSY





4KÁHJ
*VZNURJSY





Site Equipments



- +ZWSNYZWJ

+N]YZWJX





Computer





Vehicles





30.83 20.47 10.36 Other Intangible assets 1NHJSXJX

8TKY\FWJ





Trade Mark





39.54 9.01 30.53 Total 70.37 29.48 40.89

203 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2016-17 GODREJ PROPERTIES LIMITED

NOTES FORMING PART OF CONSOLIDATED FINANCIAL STATEMENTS

Note 3 Investment In Joint Ventures and Associate 9MJ
,WTZU
ITJX
STY
MF[J
FS^
RFYJWNFQ
/TNSY
;JSYZWJX
FSI
&XXTHNFYJ
&LLWJLFYJ
NSKTWRFYNTS
KTW
.S[JXYRJSYX
NS
/TNSY
;JSYZWJX

FSI
&XXTHNFYJ
YMFY
FWJ
STY
RFYJWNFQ
YT
YMJ
,WTZU
FWJ
FX
ZSIJW


H +L[HPSZVM1VPU[=LU[\YLZ! INR (in Crore) Particulars March 31, 2017 March 31, 2016 April 1, 2015 Carrying amount of Investment in Joint Ventures 81.39



8ZRRFWNXJI
8YFYJRJSY
TK
5WTÁY
FSI
1TXX
FHHTZSY 5WTÁY
KTW
YMJ
^JFW 60.84

- Other Comprehensive Income for the year - - - Total comprehensive Income (100%) 60.84

- :OHYLVM7YVÂ[VM1VPU[=LU[\YLZ 24.71
 - b) Details of Associate (INR in Crore) Particulars March 31, 2017 March 31, 2016 April 1, 2015 Carrying amount of Investment in Associate 0.00



8ZRRFWNXJI
8YFYJRJSY
TK
5WTÁY
FSI
1TXX
FHHTZSY 5WTÁY
KTW
YMJ
^JFW - - - Other Comprehensive Income for the year - - - Total Comprehensive Income (100%) - - - :OHYLVM7YVÂ[VM(ZZVJPH[L - - -

Note 4 Investments INR (in Crore) Particulars March 31, 2017 March 31, 2016 April 1, 2015 a) Investment in Debentures of Joint Ventures (Fully Paid) (at Amortised Cost)

5WJ[NTZX
>JFW


5WJ[NTZX
>JFW



8JHZWJI
7JIJJRFGQJ
TUYNTSFQQ^
Convertible Debentures of INR 10/- each of Godrej Realty Private Limited 2.99





5WJ[NTZX
>JFW


5WJ[NTZX
>JFW



(TRUZQXTWNQ^
(TS[JWYNGQJ
Debentures Class B of INR 1,000/- each of Wonder City Buildcon Private Limited 31.94






5WJ[NTZX
>JFW


5WJ[NTZX
>JFW



(TRUZQXTWNQ^
(TS[JWYNGQJ
Debentures of INR 1,000/- each of Wonder Space Properties Private Limited 37.52






5WJ[NTZX
>JFW


5WJ[NTZX
>JFW

3NQ

(TRUZQXTWNQ^
(TS[JWYNGQJ
)JGJSYZWJX
of INR 1,000/- each of Godrej Home Constructions Private Limited 41.34

-

5WJ[NTZW
>JFW


5WJ[NTZX
>JFW



:SXJHZWJI
(TRUZQXTWNQ^
(TS[JWYNGQJ
)JGJSYZWJX
TK

.37

JFHM
TK
Godrej Redevelopers (Mumbai) Private Limited 85.71




.37

WJUWJXJSYX
FRTZSY
QJXX
YMFS
.37
 204 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2016-17 NOTES FORMING PART OF CONSOLIDATED FINANCIAL STATEMENTS

Note 4 Investments INR (in Crore) Particulars March 31, 2017 March 31, 2016 April 1, 2015

5WJ[NTZX
>JFW


5WJ[NTZX
>JFW



8JHZWJI
(ZRZQFYN[J
4UYNTSFQQ^
(TS[JWYNGQJ
)JGJSYZWJX
(QFXX&
TK
.37

JFHM

TK Godrej Landmark Redevelopers Private Limited 15.16






5WJ[NTZX
>JFW

3NQ
5WJ[NTZX
>JFW

3NQ

:SXJHZWJI
(TRUZQXTWNQ^
(TS[JWYNGQJ
Debentures of INR 1,000/- each of Wonder Projects Development Private Limited 13.30 - -

5WJ[NTZX
>JFW

3NQ
5WJ[NTZX
>JFW

3NQ


:SXJHZWJI
(TRUZQXTWNQ^
(TS[JWYNGQJ
)JGJSYZWJX
TK
.37

JFHM
TK Pearlite Real Properties Private Limited 67.50 - -

5WJ[NTZX
>JFW

3NQ
5WJ[NTZX
>JFW

3NQ


:SXJHZWJI
(TRUZQXTWNQ^
(TS[JWYNGQJ
)JGJSYZWJX
of .37
JFHM
TK Godrej Real View Deveopers Private Limited 3.34 - -

5WJ[NTZX
>JFW

3NQ
5WJ[NTZX
>JFW

3NQ

:SXJHZWJI
(TRUZQXTWNQ^
(TS[JWYNGQJ
Debentures of INR 1000/- each of Godrej Greenview Housing Private Limited 13.55 - - b) Investment in Fully paid up Equity Instruments H[-HPY=HS\L[OYV\NO7YVÂ[VY3VZZ (i) Quoted Investments

5WJ[NTZX
>JFW


5WJ[NTZX
>JFW


Equity Shares of INR 10/- each of Alacrity Housing Limited - - 

5WJ[NTZX
>JFW


5WJ[NTZX
>JFW


Equity Shares of INR 10/- each of Ansal Buildwell Limited 0.00



5WJ[NTZX
>JFW


5WJ[NTZX
>JFW



of INR 10/- each of Ansal Housing & Construction Limited 0.00



5WJ[NTZX
>JFW


5WJ[NTZX
>JFW


Equity Shares of INR 5/- each of Ansal Properties & Infrastructure Limited 0.00



5WJ[NTZX
>JFW


5WJ[NTZX
>JFW


Equity Shares of INR 10/- each of Lok Housing & Construction Limited 0.00



5WJ[NTZX
>JFW


5WJ[NTZX
>JFW


Equity Shares of INR 10/- each of Global Infrastructure & Technologies Limited - - 

5WJ[NTZX
>JFW


5WJ[NTZX
>JFW


Equity Shares of INR 10/- each of Premier Energy & Infrastructure Limited 0.00



205 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2016-17 GODREJ PROPERTIES LIMITED

NOTES FORMING PART OF CONSOLIDATED FINANCIAL STATEMENTS

Note 4 Investments INR (in Crore) Particulars March 31, 2017 March 31, 2016 April 1, 2015

5WJ[NTZX
>JFW


5WJ[NTZX
>JFW


Equity Shares of INR 10/- each of D.S. Kulkarni Developers Limited 0.00



5WJ[NTZX
>JFW


5WJ[NTZX
>JFW


*VZNY^
8MFWJX
TK
.37

JFHM
TK
Unitech Limited 0.00



5WJ[NTZX
>JFW


5WJ[NTZX
>JFW


Equity Shares of INR 10/- each of The Great Eastern Shipping Company Limited 0.00



5WJ[NTZX
>JFW


5WJ[NTZX
>JFW


Equity Shares of INR 10/- each of GOL Offshore Limited 0.00



5WJ[NTZX
>JFW


5WJ[NTZX
>JFW


Equity Shares of INR 10/- each of Radhe Developers (India) Limited 0.00



5WJ[NTZX
>JFW


5WJ[NTZX
>JFW


*VZNY^
8MFWJX
TK
.37

JFHM
TK
United Textiles Limited 0.00

 (ii) Unquoted Investments

5WJ[NTZX
>JFW


5WJ[NTZX
>JFW

1,000) Equity Shares of INR 10/- each of Saraswat Co-operative Bank Limited 0.00



5WJ[NTZX
>JFW


5WJ[NTZX
>JFW


*VZNY^
8MFWJX
TK
.37

JFHM
TK
AB Corp Limited 0.00

 312.36




&LLWJLFYJ
&RTZSY
TK
6ZTYJI
.S[JXYRJSYX

2FWPJY
0.00

 Value there of Note 5 Loans (Non Current) INR (in Crore) Particulars March 31, 2017 March 31, 2016 April 1, 2015 Secured )JUTXNYX

5WTOJHYX
7JKJW
3TYJ
F
GJQT\ 74.72



Unsecured, Considered Good Deposits - Projects 0.00 - - 1TFSX
FSI
&I[FSHJX
YT
4YMJWX
-



74.72



F
8JHZWJI
)JUTXNYX

5WTOJHYX
FWJ
8JHZWJI
FLFNSXY
9JWRX
TK
)J[JQTURJSY
&LWJJRJSY

.37

WJUWJXJSYX
FRTZSY
QJXX
YMFS
.37


206 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2016-17 NOTES FORMING PART OF CONSOLIDATED FINANCIAL STATEMENTS

Note 6 Other Non Current Financial Assets INR (in Crore) Particulars March 31, 2017 March 31, 2016 April 1, 2015 )JUTXNY

F
N
.SHQZIJX
.37

(WTWJ
5WJ[NTZX
>JFW

.37

(WTWJ
5WJ[NTZX
>JFW

3NQ

WJHJN[JI
KWTR
ÂFY
GZ^JWX
FSI
MJQI
NS
YWZXY
TS
YMJNW
GJMFQK
NS
F
HTWUZX
KZSI

NN

.SHQZIJX
.37


(WTWJ
5WJ[NTZX
>JFW

.37

(WTWJ
5WJ[NTZX
>JFW

.37

(WTWJ
MJQI
FX
RFWLNS
RTSJ^
FSI
QNJS
RFWPJI
KTW
NXXZNSL
GFSP
LZFWFSYJJ 5V[L+LMLYYLK;H_(ZZL[Z3PHIPSP[PLZHUK;H_,_WLUZL  a) Movement in Deferred Tax balances INR (in Crore) Net balance Movement during the year As at March 31, 2017 March 31, Recognised Recognised Others Net Deferred Deferred Particulars 2016 PUWYVÂ[VY in Equity Tax Asset Tax loss Liability +LMLYYLK;H_(ZZL[ (Liabilities) Property, plant and

 --

 - equipment Inventories


 -- 

*RUQT^JJ
GJSJÁYX





-

 - Equity-settled Share-



--



- Based Payments :SZXJI
9F]
(WJINY  --
 --- Other items  

-   - +LMLYYLK;H_(ZZL[Z 122.26 32.07 1.29 (17.42) 138.19 138.39 0.20 (Liabilities)

207 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2016-17 GODREJ PROPERTIES LIMITED

NOTES FORMING PART OF CONSOLIDATED FINANCIAL STATEMENTS

INR (in Crore) Net balance Movement during the year As at March 31, 2016 April 1, Recognised Recognised Others Net Deferred Deferred Particulars 2015 PUWYVÂ[VY in Equity Tax Asset Tax loss Liability +LMLYYLK;H_(ZZL[ (Liabilities) Property, plant and

 - -

 - equipment Inventories 
 - -

 - *RUQT^JJ
GJSJÁYX




-



- Equity-settled Share-




-



- Based Payments :SZXJI
9F]
(WJINY   --  - Other items
  - -  - +LMLYYLK;H_(ZZL[Z




-


 - (Liabilities) I (TV\U[ZYLJVNUPZLKPUWYVÂ[HUKSVZZ INR (in Crore) Particulars March 31, 2017 March 31, 2016 Current Income Tax 109.77

Deferred Income Tax (Net)
4WNLNSFYNTS
FSI
7J[JWXFQ
TK
9F]
TS
9JRUJWTWFW^
)NKKJWJSHJX (32.07)

Tax expense for the year 77.70

c) Amounts recognised in Other Comprehensive Income INR (in Crore)

For the Year Ended March 31, 2017 +TW
YMJ
>JFW
*SIJI
2FWHM

 Particulars Before Tax ;H_,_WLUZL Net of Tax Before 9F]
*]UJSXJ

Net of )LULÂ[ 9F] 'JSJÁY 9F] 7JRJFXZWJRJSYX
TK
IJÁSJI
(0.48) 0.16 (0.31)



 GJSJÁY
1NFGNQNY^ (0.48) 0.16 (0.31)



 d) Amounts recognised in Equity

)ZWNSL
YMJ
>JFW
&RTZSY
WJHTLSNXJI
NS
JVZNY^
WJQFYJX
YT
8MFWJ
.XXZJ
*]UJSXJX
FRTZSYNSL
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.37

(WTWJ
FSI
NS
UWJ[NTZX
^JFW
NY
WJQFYJX
YT
8MFWJX
'FXJI
UF^RJSYX
FRTZSYNSL
YT
.37

(WTWJ

208 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2016-17 NOTES FORMING PART OF CONSOLIDATED FINANCIAL STATEMENTS e) Reconciliation of effective tax rate INR (in Crore) Particulars March 31, 2017 March 31, 2016 7YVÂ[ILMVYL[H_ 284.50

9F]
ZXNSL
YMJ
(TRUFS^¸X
ITRJXYNH
YF]
WFYJ
98.46

;H_LMMLJ[VM! Difference in Rate of Subsidiaries 0.41

3TSIJIZHYNGQJ
J]UJSXJX 0.59

9F]J]JRUY
NSHTRJ 0.00

Change in recognised deductible temporary differences (6.49)
 &IOZXYRJSY
KTW
YF]
TK
UWNTW
^JFWX
3.26
 :SFGXTWGJI
1TXXJX (9.94)
 8MFWJ
TK
UWTÁY
TK
OTNSY
[JSYZWJ (10.35)

Other Adjustments 1.76
 Tax expense recognised 77.70

f)

&X
TS
&UWNQ


YMJ
(TRUFS^
MFX
UWTUTXJI
IN[NIJSI
TK
.37

(WTWJ
9MJ
HTWWJXUTSINSL
IN[NIJSI
INXYWNGZYNTS
YF]
YT
YMFY
J]YJSY
TK
.37

(WTWJ
MFX
STY
GJJS
WJHTLSNXJI
FX
F
QNFGNQNY^ g)

&X
FY
2FWHM


ZSINXYWNGZYJI
JFWSNSL
TK
8ZGXNINFWNJX
FSI
/TNSY
[JSYZWJX
FRTZSYJI
YT
.37

(WTWJ
5WJ[NTZX
>JFW

.37

(WTWJ
5WJ[NTZX
>JFW

.37

(WTWJ
9MJ
HTWWJXUTSINSL
IJKJWWJI
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QNFGNQNY^
NX
STY
recognised because the Company controls the dividend policy of its subsidiaries and is able to veto the payment of IN[NIJSIX
TK
NYX
OTNSY
[JSYZWJX
NJ
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(TRUFS^
HTSYWTQX
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TK
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INKKJWJSHJX
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NX
XFYNXÁJI
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\NQQ
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NS
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Note 8 Income Tax Assets (Net) INR (in Crore) Particulars March 31, 2017 March 31, 2016 April 1, 2015 &I[FSHJ
9F]

9F]
)JIZHYJI
&Y
8TZWHJ
3JY 136.32   136.32   Note 9 Other Non Current Non Financial Assets INR (in Crore) Particulars March 31, 2017 March 31, 2016 April 1, 2015 Capital Advance 15.28


 15.28


 Note 10 Inventories INR (in Crore) Particulars March 31, 2017 March 31, 2016 April 1, 2015 +NSNXMJI
,TTIX
7JKJW
3TYJ
F
GJQT\
56.74


 Construction Work in Progress 3,909.38   3,966.12  

(a) +NSNXMJI
LTTIX
NSHQZIJX
XMFWJX
TK
9FMNW
5WTUJWYNJX
1NRNYJI

FY
HTXY
TW
SJY
WJFQNXFGQJ
[FQZJ
\MNHMJ[JW
NX
QT\JW i) 70 Equity shares of INR 100/- each, INR 20/- paid up NN

7JIJJRFGQJ
5WJKJWJSHJ
(QFXX
&
XMFWJX
TK
.37

JFHM
.37

UFNI
ZU .37

WJUWJXJSYX
FRTZSY
QJXX
YMFS
.37
 209 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2016-17 GODREJ PROPERTIES LIMITED

NOTES FORMING PART OF CONSOLIDATED FINANCIAL STATEMENTS

Note 11 Investments (Current) INR (in Crore) Particulars March 31, 2017 March 31, 2016 April 1, 2015 Quoted .S[JXYRJSY
NS
2ZYZFQ
+ZSIX
HFWWNJI
FY
+FNW
;FQZJ
YMWTZLM
5WTÁY
TW
1TXX 366.26



366.26



&LLWJLFYJ
&RTZSY
TK
6ZTYJI
.S[JXYRJSYX

2FWPJY
;FQZJ
366.26



thereof

Note 12 Trade Receivables INR (in Crore) Particulars March 31, 2017 March 31, 2016 April 1, 2015 Unsecured, Considered Good 221.82



221.82




Note 13 Cash and Cash Equivalents INR (in Crore) Particulars March 31, 2017 March 31, 2016 April 1, 2015 Balance With Banks on Current Accounts 44.32



TS
+N]JI
)JUTXNY
&HHTZSYX
26.57



Cash On Hand 0.04



Cheques On Hand 2.89



73.82




Note 14 Bank Balances other than above INR (in Crore) Particulars March 31, 2017 March 31, 2016 April 1, 2015 Balance With Banks TS
(ZWWJSY
&HHTZSYX
7JKJW
3TYJ
F
GJQT\
0.05



TS
+N]JI
)JUTXNY
&HHTZSYX
7JKJW
3TYJ
G
GJQT\
36.53



36.58




F
'FQFSHJX
\NYM
'FSPX
NS
HZWWJSY
FHHTZSYX
NSHQZIJ
.37

(WTWJ
5WJ[NTZX
>JFW

.37

(WTWJ
5WJ[NTZX
>JFW

.37

(WTWJ
NX
TS
FHHTZSY
TK
JFWRFWPJI
GFQFSHJ
KTW
ZSHQFNRJI
IN[NIJSI G
.SHQZIJX

N
.37

(WTWJ
5WJ[NTZX
>JFW

.37

(WTWJ
5WJ[NTZX
>JFW

.37

(WTWJ
WJHJN[JI
KWTR
ÂFY
GZ^JWX
FSI
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NS
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TS
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GJMFQK
NS
F
HTWUZX
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NN

)JUTXNYX
MJQI
FX
)JUTXNY
7JUF^RJSY
7JXJW[J
FRTZYNSL
YT
.37

(WTWJ
5WJ[NTZX
>JFW

.37

(WTWJ
5WJ[NTZX
>JFW

.37

(WTWJ
NNN
+N]JI
IJUTXNYX
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NXXZNSL
GFSP
LZFWFSYJJ
TK
.37

(WTWJ
5WJ[NTZX
>JFW

.37

(WTWJ
5WJ[NTZX
>JFW

.37

(WTWJ

210 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2016-17 NOTES FORMING PART OF CONSOLIDATED FINANCIAL STATEMENTS

Note 15 Loans (Current) INR (in Crore) Particulars March 31, 2017 March 31, 2016 April 1, 2015 Secured )JUTXNYX

5WTOJHYX
7JKJW
3TYJ
F
GJQT\
169.54



Unsecured, Considered Good 1TFSX
FSI
&I[FSHJX
YT
7JQFYJI
5FWYNJX 536.96



1TFSX
FSI
&I[FSHJX
YT
4YMJWX
14.08



1TFS
9T
,.1
*845
9WZXY -



(Net of provision for doubtful loan of INR Nil (Previous >JFW

.37

(WTWJ
5WJ[NTZX
>JFW

.37

(WTWJ Others 21.09



741.67



(a) )JUTXNYX

5WTOJHYX
FWJ
8JHZWJI
FLFNSXY
9JWRX
TK
)J[JQTURJSY
&LWJJRJSY

Note 16 Other Current Financial Assets INR (in Crore) Particulars March 31, 2017 March 31, 2016 April 1, 2015 Deposits - Others 43.02



Unbilled Revenue 518.23



Interest Accrued 139.84



Others 29.32



730.41




Note 17 Other Current Non Financial Assets INR (in Crore) Particulars March 31, 2017 March 31, 2016 April 1, 2015 'FQFSHJX
\NYM
,T[JWSRJSY
&ZYMTWNYNJX 79.90



&I[FSHJ
YT
8ZUUQNJWX

(TSYWFHYTWX
7JKJW
3TYJ
F
GJQT\ 59.56



Capital Advance 4.48

- Others 35.90



179.84



F

&I[FSHJX
YT
8ZUUQNJWX
FSI
(TSYWFHYTWX
NSHQZIJ
FI[FSHJX
FRTZSYNSL
YT
.37

(WTWJ


5WJ[NTZX
>JFW


(WTWJ
5WJ[NTZX
>JFW


(WTWJ
XJHZWJI
FLFNSXY
'FSP
,ZFWFSYJJ

211 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2016-17 GODREJ PROPERTIES LIMITED

NOTES FORMING PART OF CONSOLIDATED FINANCIAL STATEMENTS

Note 18 Equity Share Capital INR (in Crore) Particulars March 31, 2017 March 31, 2016 April 1, 2015 a) Authorised 
*VZNY^
8MFWJX
TK
.37

JFHM
5WJ[NTZX
>JFW


*VZNY^
8MFWJ
TK
.37

JFHM
5WJ[NTZX
>JFW


*VZNY^
8MFWJ
TK
.37
5/- each) 269.00



269.00



b) Issued, Subscribed & Paid Up 
*VZNY^

8MFWJX
TK
.37

JFHM
5WJ[NTZX
>JFW


*VZNY^
8MFWJX
TK
.37

JFHM
5WJ[NTZX
>JFW


*VZNY^
8MFWJX
TK
.37
5/- each) fully paid up 108.18



108.18



c)
)ZWNSL
YMJ
^JFW
YMJ
(TRUFS^
MFX
NXXZJI

JVZNY^
XMFWJX
5WJ[NTZX
>JFW


JVZNY^
XMFWJX
5WJ[NTZX
>JFW


JVZNY^
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*RUQT^JJ
8YTHP
,WFSY
8HMJRJ d) 9LJVUJPSPH[PVUVMU\TILYVMZOHYLZV\[Z[HUKPUNH[[OLILNPUUPUNHUKLUKVM[OL`LHY!

March 31, 2017 March 31, 2016 April 1, 2015 Particulars No. of INR 3T
TK
INR 3T
TK
INR Shares (in Crore) Shares (in Crore) Shares (in Crore) Equity Shares Outstanding at the beginning of the year 216,260,366 108.13 





Issued during the year 104,326 0.05







Outstanding at the end of the year 216,364,692 108.18 216,260,366




e) Shareholding Information Particulars March 31, 2017 March 31, 2016 April 1, 2015 Equity Shares are held by ,TIWJO
.SIZXYWNJX
1NRNYJI
-TQINSL
(TRUFS^ 122,681,066



,TIWJO

'T^HJ
2FSZKFHYZWNSL
(TRUFS^
1NRNYJI
:QYNRFYJ
Holding Company upto March 29, 2017) 10,650,688



*SXJRGQJ
-TQINSLX

+NSFSHJ
1NRNYJI
8ZGXNINFW^
TK
-TQINSL
Company) 1,382,310



f) Rights, preferences and restrictions attached to Equity shares

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212 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2016-17 NOTES FORMING PART OF CONSOLIDATED FINANCIAL STATEMENTS g) Equity Shares allotted as fully paid up shares other than cash

March 31, 2017 March 31, 2016 April 1, 2015 Particulars No. of INR 3T
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INR 3T
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INR Shares (in Crore) Shares (in Crore) Shares (in Crore) ,X\P[`:OHYL! ,TIWJO
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1NRNYJI - - 


- - h) Shareholders holding more than 5% shares in the company

March 31, 2017 March 31, 2016 April 1, 2015 Particulars No. of Shares % 3T
TK
8MFWJX 3T
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8MFWJX ,X\P[`:OHYL! ,TIWJO
.SIZXYWNJX
1NRNYJI 122,681,066 56.70%



 i) Equity Shares Reserved for Issue Under Options

March 31, 2017 March 31, 2016 April 1, 2015 Particulars No. of INR 3T
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INR 3T
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INR Shares (in Crore) Shares (in Crore) Shares (in Crore) (i) 
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on May 31, 2015 - - - -



(ii) 230 Employee Stock Grants eligible for 230 equity shares of INR 5/- each vesting on October 31, 2015 - - - - 230

(iii) 
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equity shares of INR 5/- each vesting on January 31, 2016 - - - -



(iv) 
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on May 31, 2016 - -







(v) 
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on May 31, 2017 29,294 0.01



161,193

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on May 31, 2015 - - - -



(vii) 769 Employee Stock Grants eligible for 769 JVZNY^
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October 31, 2017 769 0.00 1,537

2,305

(viii) 
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 50,432 0.03 109,273

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 13,908 0.01



- -

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.37
 213 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2016-17 GODREJ PROPERTIES LIMITED

NOTES FORMING PART OF CONSOLIDATED FINANCIAL STATEMENTS

March 31, 2017 March 31, 2016 April 1, 2015 Particulars No. of INR 3T
TK
INR 3T
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INR Shares (in Crore) Shares (in Crore) Shares (in Crore)
]
2,073 Employee Stock Grants eligible for 
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2,073 0.00



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706 is vesting on January 1, 2019 1,413 0.00 2,120

- -
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2,612 Employee Stock Grants eligible for 
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vesting on January 1, 2020 2,612 0.00 - - - - ]N[
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on March 1, 2020 613 0.00 - - - -

Note 19 Other Equity (INR in Crore) Particulars March 31, 2017 March 31, 2016 a) Capital Reserve (Refer Note (i) below) Opening Balance - - Additions during the year 7.20 - Closing Balance 7.20 - b) Capital Reserve on Account of Amalgamation (Refer Note (ii) below) Opening Balance 132.62 - Additions during the year -

Closing Balance 132.62

c) Securities Premium (Refer Note (iii) below) Opening Balance 1,696.67

Additions during the year 2.55


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 Closing Balance 1,699.22


.37

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.37
 214 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2016-17 NOTES FORMING PART OF CONSOLIDATED FINANCIAL STATEMENTS

(INR in Crore) Particulars March 31, 2017 March 31, 2016 d) Employee Stock Grant Scheme Reserve (Refer Note (iv) below) Opening Balance 3.86

Additions during the year 2.38

Utilisations during the year (2.55)
 Closing Balance 3.69

e) Retained Earnings Opening Balance (146.33)
 Additions during the year 0.12
 Adjustment arising on Amalgamation/ Conversion of subsidiaries (2.44)

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(4.65)

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Other Comprehensive Income (0.31)
 Dividends (including DDT) -
 Closing Balance 53.19
 f) Treasury Shares (Refer Note (v) below) Opening Balance (30.12)
 Additions during the year 30.12 - Closing Balance -
 N ,_JOHUNLKPMMLYLUJLZVU[YHUZSH[PUN[OLÂUHUJPHSZ[H[LTLU[ZVMH foreign operation Opening Balance (0.01) - Other Comprehensive Income (0.36)
 Closing Balance (0.37)
 1,895.55


(i) Capital Reserve

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YMJNW
WJRZSJWFYNTS 215 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2016-17 GODREJ PROPERTIES LIMITED

NOTES FORMING PART OF CONSOLIDATED FINANCIAL STATEMENTS

(v) Treasury Shares

The reserve for treasury shares of the Company includes the shares held by the ESOP trust considered as a branch of the (TRUFS^
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 Note 20 Borrowings (Non Current) INR (in Crore) Particulars March 31, 2017 March 31, 2016 April 1, 2015 Secured Loans 9JWR
1TFS
7JKJW
3TYJ
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Deposits (Unsecured) +WTR
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+WTR
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474.75




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INR (in Crore) At the end of 56th Month  At the end of 57th Month 300 &Y
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Note 21 Trade Payables (Non Current) INR (in Crore) Particulars March 31, 2017 March 31, 2016 April 1, 2015 )ZJ
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0.52 -


Note 22 Provisions (Non Current) INR (in Crore) Particulars March 31, 2017 March 31, 2016 April 1, 2015 5WT[NXNTS
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Compensated Absences 0.17



6.71




216 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2016-17 NOTES FORMING PART OF CONSOLIDATED FINANCIAL STATEMENTS

Note 23 Borrowings (Current) INR (in Crore) Particulars March 31, 2017 March 31, 2016 April 1, 2015 Secured Loans From Banks 1TFSX
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3,501.73




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217 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2016-17 GODREJ PROPERTIES LIMITED

NOTES FORMING PART OF CONSOLIDATED FINANCIAL STATEMENTS

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218 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2016-17 NOTES FORMING PART OF CONSOLIDATED FINANCIAL STATEMENTS

Note 24 Trade Payables (Current) INR (in Crore) Particulars March 31, 2017 March 31, 2016 April 1, 2015 )ZJ
YT
2NHWT
FSI
8RFQQ
*SYJWUWNXJX
7JKJW
3TYJ
 16.27



Others 451.62



467.89



Note 25 Other Current Financial Liabilities INR (in Crore) Particulars March 31, 2017 March 31, 2016 April 1, 2015 Current maturities of long term debts Unsecured Deposit
+WTR
)NWJHYTWX - -


+WTR
8MFWJMTQIJWX -




+WTR
5ZGQNH -



5ZY
4UYNTS
1NFGNQNY^ -



:SHQFNRJI
+N]JI
)JUTXNYX

.SYJWJXY 1.48



Unclaimed Dividend 0.05



Interest Accrued 4.29 - - 4YMJW
1NFGNQNYNJX 194.78



200.60




Note 26 Other Current Non Financial Liabilities INR (in Crore) Particulars March 31, 2017 March 31, 2016 April 1, 2015 Statutory Dues 37.18



&I[FSHJX
7JHJN[JI
&LFNSXY
8FQJ
TK
+QFYX
:SNYX 415.35



4YMJW
1NFGNQNYNJX 57.96



510.49




Note 27 Provisions (Current) INR (in Crore) Particulars March 31, 2017 March 31, 2016 April 1, 2015 5WT[NXNTS
KTW
JRUQT^JJ
GJSJÁYX
Gratuity 0.12



Compensated Absences 0.05



0.17




Note 28 Current Tax Liabilities (Net) INR (in Crore) Particulars March 31, 2017 March 31, 2016 April 1, 2015 5WT[NXNTS
KTW
9F]FYNTS
3JY 12.30



12.30




219 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2016-17 GODREJ PROPERTIES LIMITED

NOTES FORMING PART OF CONSOLIDATED FINANCIAL STATEMENTS

Note 29 Revenue from Operations INR (in Crore) Particulars March 31, 2017 March 31, 2016 Sale of Products 1,427.32

Other Operating Revenues Sale of Services 109.13

Compensation received from Project -

Other Income from Customers 44.70


1JFXJ
7JSY 1.78

1,582.93


Note 30 Other Income NR (in Crore) Particulars March 31, 2017 March 31, 2016 Interest Income 102.39

Dividends -

5WTÁY
TS
8FQJ
TK
+N]JI
&XXJYX
3JY 0.20

.SHTRJ
KWTR
.S[JXYRJSY
RJFXZWJI
FY
+;951
7JKJW
3TYJ
F
GJQT\ 21.77

Miscellaneous Income 1.06

125.42


F

.SHTRJ
KWTR
NS[JXYRJSYX
RJFXZWJI
FY
+;951
NSHQZIJX
KFNW
[FQZFYNTS
NRUFHY
TK
.37

(WTWJ
5WJ[NTZX
>JFW
.37

(WTWJ Note 31 Cost of Sales INR (in Crore) Particulars March 31, 2017 March 31, 2016 Opening Stock +NSNXMJI
,TTIX 56.74

Construction Work in Progress 3,866.34

&II


*]UJSINYZWJ
IZWNSL
YMJ
^JFW



1FSI

)J[JQTURJSY
7NLMYX 165.42





(TSXYWZHYNTS
2FYJWNFQ

1FGTZW 591.18





&WHMNYJHY
+JJX 8.48

Other Cost 169.67





+NSFSHJ
(TXY 190.33

5,048.16

1JXX

9WFSXKJWWJI
YT
*]UJSXJX 0.65

1JXX

9WFSXKJWWJI
YT
+N]JI
&XXJYX -

1JXX

9WFSXKJWWJI
YT
(FUNYFQ
<.5 -

1JXX

9WFSXKJWWJI
YT
/TNSY
;JSYZWJ
4S
1TXX
TK
(TSYWTQ 0.48 - 1JXX

(QTXNSL
8YTHP +NSNXMJI
,TTIX 56.74

Construction Work in Progress 3,909.38

1,080.90


220 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2016-17 NOTES FORMING PART OF CONSOLIDATED FINANCIAL STATEMENTS

5V[L,TWSV`LL)LULÂ[Z,_WLUZL INR (in Crore) Particulars March 31, 2017 March 31, 2016 8FQFWNJX
'TSZX
,WFYZNY^

&QQT\FSHJX 40.62

(TSYWNGZYNTS
YT
5WT[NIJSY
FSI
4YMJW
+ZSIX 1.11

4YMJW
*RUQT^JJ
'JSJÁYX 3.31

8MFWJ
'FXJI
5F^RJSYX
YT
*RUQT^JJX
7JKJW
3TYJ
 2.49

47.53


Note 33 Finance Costs INR (in Crore) Particulars March 31, 2017 March 31, 2016 .SYJWJXY
*]UJSXJ 'FSPX
FSI
+NSFSHNFQ
.SXYNYZYNTSX 172.10

Others 55.15

.SYJWJXY
TS
.SHTRJ
9F] 1.18

9TYFQ
.SYJWJXY
*]UJSXJ 228.43

4YMJW
'TWWT\NSL
HTXYX 87.75

9TYFQ
+NSFSHJ
(TXY
316.18

1JXX
(FUYNQNXJI
YT
5WTOJHYX
190.33

1JXX
7JHT[JW^
TK
+NSFSHJ
(TXY 24.32

Net Finance Cost 101.53


Note 34 Other Expenses INR (in Crore) Particulars March 31, 2017 March 31, 2016 Consultancy Charges 18.41

Rent 8.89

Insurance 0.95

7FYJX

9F]JX 0.23

&I[JWYNXJRJSY

2FWPJYNSL
*]UJSXJ 43.59

Diminution in value of investments -

5WT[NXNTS
KTW
)TZGYKZQ
&I[FSHJX
 \WNYYJS
GFHP
3JY -

4YMJW
*]UJSXJX
7JKJW
3TYJ
 132.03

204.10


.37

WJUWJXJSYX
FRTZSY
QJXX
YMFS
.37


221 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2016-17 GODREJ PROPERTIES LIMITED

NOTES FORMING PART OF CONSOLIDATED FINANCIAL STATEMENTS

Note 35 Earnings Per Share a) Basic Earnings Per Share

9MJ
HFQHZQFYNTS
TK
GFXNH
JFWSNSLX
UJW
XMFWJ
NX
GFXJI
TS
YMJ
UWTÁY
FYYWNGZYFGQJ
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TWINSFW^
XMFWJMTQIJWX
FSI
\JNLMYJI

F[JWFLJ
SZRGJW
TK
TWINSFW^
XMFWJX
TZYXYFSINSL  P 7YVÂ[H[[YPI\[HISL[VVYKPUHY`ZOHYLOVSKLYZIHZPJ INR (in Crore) Particulars March 31, 2017 March 31, 2016 5WTÁY
KTW
YMJ
^JFW
FYYWNGZYFGQJ
YT
TWINSFW^
XMFWJMTQIJWX
TK
YMJ
(TRUFS^ 206.80

206.80

(ii) Weighted average number of ordinary shares (basic) Particulars March 31, 2017 March 31, 2016 Number of Equity Shares at the beginning of the year 216,260,366

1JXX
*KKJHY
TK
YWJFXZW^
XMFWJX
MJQI 937,997

&II
*KKJHY
TK
XMFWJ
NXXZJI
IZWNSL
YMJ
^JFW 76,394 11,277,691 215,398,763


Basic Earnings Per Share (Amount in INR) 9.60  b) Diluted Earnings Per Share

9MJ
HFQHZQFYNTS
TK
INQZYJI
JFWSNSLX
UJW
XMFWJ
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GFXJI
TS
YMJ
UWTÁY
FYYWNGZYFGQJ
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TWINSFW^
XMFWJMTQIJWX
FSI
\JNLMYJI F[JWFLJ
SZRGJW
TK
TWINSFW^
XMFWJX
TZYXYFSINSL
FKYJW
FIOZXYRJSY
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JKKJHYX
TK
FQQ
INQZYN[J
UTYJSYNFQ
TWINSFW^
XMFWJX  P 7YVÂ[H[[YPI\[HISL[VVYKPUHY`ZOHYLOVSKLYZKPS\[LK INR (in Crore) Particulars March 31, 2017 March 31, 2016 5WTÁY
KTW
YMJ
^JFW
FYYWNGZYFGQJ
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TWINSFW^
XMFWJMTQIJWX
TK
YMJ
(TRUFS^ 206.80

206.80

(ii) Weighted average number of ordinary shares (diluted) Particulars March 31, 2017 March 31, 2016 Weighted average number of equity shares outstanding (basic) 215,398,763

&II
*KKJHY
TK
YWJFXZW^
XMFWJX
MJQI 937,997

&II
5TYJSYNFQ
JVZNY^
XMFWJX
ZSIJW
*8,8
UQFS 139,988 163,215 216,476,748

Diluted Earnings Per Share (Amount in INR) 9.55


222 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2016-17 NOTES FORMING PART OF CONSOLIDATED FINANCIAL STATEMENTS

5V[L,TWSV`LL)LULÂ[Z

H +LÂULK*VU[YPI\[PVU7SHUZ!

(TSYWNGZYNTS
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)JÁSJI
(TSYWNGZYNTS
5QFSX
WJHTLSNXJI
FX
J]UJSXJ
KTW
YMJ
^JFW
FWJ
FX
ZSIJW INR (in Crore) Particulars March 31, 2017 March 31, 2016 *RUQT^JW¸X
(TSYWNGZYNTS
YT
5WT[NIJSY
+ZSI
,WTXX
GJKTWJ
&QQTHFYNTS 6.18

Employer’s Contribution to ESIC 0.00 

I +LÂULK)LULÂ[7SHUZ! Contribution to Gratuity Fund Gratuity is payable to all eligible employees on death or on separation/ termination in terms of the provisions of the Payment TK
,WFYZNY^
&HY
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FX
UJW
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,WTZU¸X
UTQNH^
\MNHMJ[JW
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GJSJÁHNFQ
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JRUQT^JJX
9MJ
JXYNRFYJX
TK
KZYZWJ
XFQFW^
NSHWJFXJX
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RFWPJY  P *OHUNLPUWYLZLU[]HS\LVMKLÂULKILULÂ[VISPNH[PVU INR (in Crore) Particulars March 31, 2017 March 31, 2016 Present value of obligation as at beginning of the year 5.52

Interest Cost 0.44

Service Cost 1.24

'JSJÁYX
5FNI (1.04)
 *KKJHY
TK
1NFGNQNY^
9WFSXKJW
NS
0.03

*KKJHY
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1NFGNQNY^
9WFSXKJW
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,FNSX
1TXXJX
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TGQNLFYNTSX
IZJ
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HMFSLJ
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IJRTLWFUMNH
- - assumptions &HYZWNFQ
,FNSX
1TXXJX
TS
TGQNLFYNTSX
IZJ
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HMFSLJ
NS
ÁSFSHNFQ
0.19

assumptions &HYZWNFQ
,FNSX
1TXXJX
TS
TGQNLFYNTSX
IZJ
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HMFSLJ
NS
J]UJWNJSHJ 0.29

Present value of obligation, as at end of the year 6.67

(ii) Amount recognised in the Balance Sheet INR (in Crore) Particulars March 31, 2017 March 31, 2016 April 1, 2015 Present value of obligation, as at end of the year 6.67   +FNW
[FQZJ
TK
UQFS
FXXJYX
FX
FY
JSI
TK
YMJ
^JFW - - - Net obligation as at end of the year 6.67  

.37

WJUWJXJSYX
FRTZSY
QJXX
YMFS
.37


223 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2016-17 GODREJ PROPERTIES LIMITED

NOTES FORMING PART OF CONSOLIDATED FINANCIAL STATEMENTS

(iii) Net gratuity cost for the year ended INR (in Crore) Particulars March 31, 2017 March 31, 2016 9LJVNUPZLKPU[OL:[H[LTLU[VM7YVÂ[HUK3VZZ Service Cost 1.24  Interest Cost 0.44  1.68  Recognised in Other Comprehensive Income (OCI) 7JRJFXZWJRJSY
IZJ
YT &HYZWNFQ
,FNSX1TXXJX
TS
TGQNLFYNTSX
IZJ
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HMFSLJ
NS
IJRTLWFUMNH
- - assumptions &HYZWNFQ
,FNSX1TXXJX
TS
TGQNLFYNTSX
IZJ
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HMFSLJ
NS
ÁSFSHNFQ
0.19

assumptions &HYZWNFQ
,FNSX1TXXJX
TS
TGQNLFYNTSX
IZJ
YT
HMFSLJ
NS
J]UJWNJSHJ 0.29

Net gratuity cost in Total Comprehensive Income 2.16  P] ;OL 7YPUJPWHS HZZ\TW[PVUZ \ZLK PU KL[LYTPUPUN [OL WYLZLU[ ]HS\L VM KLÂULK ILULÂ[ VISPNH[PVU MVY [OL *VTWHUPLZWSHUHYLNP]LUILSV^!

Particulars March 31, 2017 March 31, 2016 April 1, 2015 Discount Rate 7.74%   Salary escalation rate 5%   Attrition Rate 1%   *]UJWNJSHJ
&IOZXYRJSY
4S
5QFS
1NFGNQNY^

.37
NS
Crore) 0.29

 (v) Sensitivity analysis

&
VZFSYNYFYN[J
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4GQNLFYNTS
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2FWHM


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Particulars March 31, 2017 March 31, 2016 Increase Decrease Increase Decrease )NXHTZSY
7FYJ

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8FQFW^
JXHFQFYNTS
WFYJ

1.03 (0.86)


 movement) &YYWNYNTS
7FYJ

RT[JRJSY
0.23 (0.28)




8JSXNYN[NY^
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\MNHM
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\JWJ
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9MNX
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KTQQT\NSL
YMJ
UFWFRJYJWX
TK
YMJ
XJSXNYN[NY^
FSFQ^XNX

224 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2016-17 NOTES FORMING PART OF CONSOLIDATED FINANCIAL STATEMENTS

 ]P ;OLL_WLJ[LKM\[\YLJHZOÃV^ZPUYLZWLJ[VMNYH[\P[`HZH[4HYJO^LYLHZMVSSV^Z!

2FYZWNY^
&SFQ^XNX
TK
5WTOJHYJI
'JSJÁY
4GQNLFYNTS
+WTR
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*RUQT^JW INR (in Crore) 7YVQLJ[LK)LULÂ[Z7H`HISLPU-\[\YL@LHYZMYVT[OL9LWVY[PUN+H[L Amount *]UJHYJI
KZYZWJ
GJSJÁY
UF^RJSYX XY
+TQQT\NSL
>JFW

SI
+TQQT\NSL
>JFW

WI
+TQQT\NSL
>JFW

YM
+TQQT\NSL
>JFW

YM
+TQQT\NSL
>JFW

8ZR
TK
>JFWX

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Note 37 Financial instruments – Fair values and risk management

 H (JJV\U[PUNJSHZZPÂJH[PVUHUKMHPY]HS\LZ 

9MJ
KTQQT\NSL
YFGQJ
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HFWW^NSL
FRTZSYX
FSI
KFNW
[FQZJX
TK
ÁSFSHNFQ
FXXJYX
FSI
ÁSFSHNFQ
QNFGNQNYNJX
NSHQZINSL
YMJNW
QJ[JQX
NS
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.Y
ITJX
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KFNW
[FQZJ
NSKTWRFYNTS
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FXXJYX
FSI
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QNFGNQNYNJX
STY
RJFXZWJI
FY
KFNW
[FQZJ
NK
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HFWW^NSL
FRTZSY
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F
WJFXTSFGQJ
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TK
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[FQZJ
INR (in Crore) Carrying amount Fair value Fair value March 31, 2017 through Amortised Total Level 1 Level 2 Level 3 Total WYVÂ[HUK Cost loss Financial Assets Non Current Investments Investments in Debentures - 312.35 312.35 312.35 312.35 Investments in Equity 0.00 - 0.00 0.00 0.00 Instruments 1TFSX
Deposits- Projects - 74.72 74.72 78.55 78.55 4YMJW
3TS
(ZWWJSY
+NSFSHNFQ
- 2.01 2.01 Assets Current Investments 366.26 - 366.26 366.26 366.26 Trade Receivables - 221.82 221.82 Cash and cash equivalents - 73.82 73.82 Bank balances other than - 36.58 36.58 above 1TFSX
Deposits- Projects - 169.54 169.54 171.57 171.57 Others - 572.13 572.13 4YMJW
(ZWWJSY
+NSFSHNFQ
- 730.41 730.41 Assets 366.26 2,193.38 2,559.64

.37

WJUWJXJSYX
FRTZSY
QJXX
YMFS
.37
 225 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2016-17 GODREJ PROPERTIES LIMITED

NOTES FORMING PART OF CONSOLIDATED FINANCIAL STATEMENTS

INR (in Crore) Carrying amount Fair value Fair value March 31, 2017 through Amortised Total Level 1 Level 2 Level 3 Total WYVÂ[HUK Cost loss Financial Liabilities Non Current
'TWWT\NSLX
- 474.75 474.75 Trade Payables - 0.52 0.52 Current 'TWWT\NSLX
- 3,501.73 3,501.73 Trade Payables - 467.89 467.89 4YMJW
(ZWWJSY
+NSFSHNFQ
- 200.60 200.60 1NFGNQNYNJX
- 4,645.49 4,645.49

INR (in Crore) Carrying amount +FNW
[FQZJ +FNW
[FQZJ
March 31, 2016 through Amortised Total Total UWTÁY
FSI
Cost 1J[JQ
 1J[JQ
 1J[JQ
 loss Financial Assets Non Current Investments Investments in Debentures -







Investments in Equity

-





Instruments 1TFSX
Deposits- Projects -







Others -



4YMJW
3TS
(ZWWJSY
+NSFSHNFQ
-



Assets Current Investments

-





Trade Receivables -



Cash and cash equivalents -



Bank Balances other than



above 1TFSX
Deposits- Projects -







Others -



4YMJW
(ZWWJSY
+NSFSHNFQ
-



Assets 366.51 1,747.99 2,114.50 Financial Liabilities Non Current 'TWWT\NSLX

-



Current 'TWWT\NSLX
-



Trade Payables -



4YMJW
(ZWWJSY
+NSFSHNFQ
-



1NFGNQNYNJX
- 4,137.34 4,137.34 .37

WJUWJXJSYX
FRTZSY
QJXX
YMFS
.37
 226 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2016-17 NOTES FORMING PART OF CONSOLIDATED FINANCIAL STATEMENTS

INR (in Crore) Carrying amount +FNW
[FQZJ +FNW
[FQZJ
April 1, 2015 through Amortised Total 1J[JQ
 1J[JQ
 1J[JQ
 Total UWTÁY
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Cost loss Financial Assets Non Current Investments Investments in Debentures -







Investments in Equity

-





Instruments 1TFSX
Deposits- Projects -







Others -



4YMJW
3TS
(ZWWJSY
+NSFSHNFQ
-



Assets Current Investments

-

 Trade Receivables -



Cash and cash equivalents -



Bank Balances other than -



above 1TFSX
Deposits- Projects -







Others -



4YMJW
(ZWWJSY
+NSFSHNFQ
-



Assets 542.76 1,687.58 2,230.34 Financial Liabilities Non Current 'TWWT\NSLX

-



Trade Payables -



Current 'TWWT\NSLX

-



Trade Payables -



4YMJW
(ZWWJSY
+NSFSHNFQ
-



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-



b) Measurement of Fair Value

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.37

WJUWJXJSYX
FRTZSY
QJXX
YMFS
.37
 227 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2016-17 GODREJ PROPERTIES LIMITED

NOTES FORMING PART OF CONSOLIDATED FINANCIAL STATEMENTS

c) Risk Management Framework The Company’s Board of Directors has overall responsibility for the establishment and oversight of the Group’s WNXP
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its training and management standards and procedures, aims to maintain a disciplined and constructive control JS[NWTSRJSY
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(TRRNYYJJ d) Financial Risk Management

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(i) Credit Risk

NN
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7NXP
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2FWPJY
7NXP (i) Credit risk

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its contractual obligations, and arises principally from the Group’s receivables from customers, investments in debt XJHZWNYNJX
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9MJ
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KTQQT\X INR (in Crore) Particulars March 31, 2017 March 31, 2016 April 1, 2015 More than 6 Months 108.47



Others 113.35



221.82




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FRTZSYX
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TS
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WJUTWYNSL
IFYJ

228 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2016-17 NOTES FORMING PART OF CONSOLIDATED FINANCIAL STATEMENTS

Investment in Debt Securities, Loans to Related Parties and Project Deposits The Group has investments in compulsorily convertible debentures / optionally convertible debentures, loans to WJQFYJI
UFWYNJX
FSI
UWTOJHY
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Cash and Bank balances

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9MJ
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.37
NS
(WTWJ Carrying *VU[YHJ[\HSJHZOÃV^Z March 31, 2017 Amount Total Within 12 1-2 years 2-5 years More than months 5 years Financial Liabilities Non Current
'TWWT\NSLX 474.75 576.04 48.40 222.54 305.10 - Trade Payables 0.52 0.52 - 0.52 - - Current
'TWWT\NSLX 3,501.73 3,546.22 3,546.22 - - - Trade Payables 467.89 470.15 438.55 19.97 11.63 -

4YMJW
(ZWWJSY
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200.60 200.60 199.85 0.75 - - 1NFGNQNYNJX Carrying (TSYWFHYZFQ
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ÂT\X March 31, 2016 Amount Total Within 12 1-2 years 2-5 years More than 5 months years Financial Liabilities Non-Current
'TWWT\NSLX









- Trade Payables ------Current
'TWWT\NSLX





- - - Trade Payables









-

4YMJW
(ZWWJSY
+NSFSHNFQ








- - 1NFGNQNYNJX

229 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2016-17 GODREJ PROPERTIES LIMITED

NOTES FORMING PART OF CONSOLIDATED FINANCIAL STATEMENTS

Carrying (TSYWFHYZFQ
HFXM
ÂT\X






























.37
NS
(WTWJ

April 1, 2015 Amount Total Within 12 1-2 years 2-5 years More than 5 months years Financial Liabilities Non Current
'TWWT\NSLX









- Trade Payables



-

- - Current
'TWWT\NSLX

 

- - Trade Payables



 

-

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- - 1NFGNQNYNJX (iii) Market Risk

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a) Currency Risk


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b) Interest Rate Risk

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WFYJ
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Exposure to interest rate risk


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NSYJWJXY
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RFSFLJRJSY
TK
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(TRUFS^
NX
FX
KTQQT\X

INR (in Crore) Particulars March 31, 2017 March 31, 2016 April 1, 2015 Financial Liabilities Variable rate instruments 'TWWT\NSLX 1TFS
7JUF^FGQJ
TS
)JRFSI 714.99 

9JWR
1TFSX 474.75



4YMJW
1TFSX 500.00



Fixed rate instruments 'TWWT\NSLX Deposits - -

9JWR
1TFSX 800.00



4YMJW
1TFSX 1,486.74



Current maturities of long term debts -



Put option liability -



3,976.48




230 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2016-17 NOTES FORMING PART OF CONSOLIDATED FINANCIAL STATEMENTS

INR (in Crore) Particulars March 31, 2017 March 31, 2016 April 1, 2015 Financial Assets Fixed rate Instruments +N]JI
)JUTXNYX 63.88



Security Deposits 244.25



1TFSX
FSI
&I[FSHJX
YT
WJQFYJI
UFWYNJX 536.96



1TFS
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,.1
*845
9WZXY -



Investment in Debentures 312.35



1,157.44




-HPY]HS\LZLUZP[P]P[`HUHS`ZPZMVYÂ_LKYH[LPUZ[Y\TLU[Z 


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Particulars 7YVÂ[VY3VZZ059PU*YVYL 100 bp increase 100 bp decrease March 31, 2017 Financial Liabilities Variable rate instruments





'TWWT\NSLX



*HZOÃV^ZLUZP[P]P[`UL[


March 31, 2016 Financial Liabilities Variable rate instruments





'TWWT\NSLX



*HZOÃV^ZLUZP[P]P[`UL[





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ITJX
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TYMJW
YMFS
YMJ
NRUFHY
TS
WJYFNSJI
JFWSNSLX

231 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2016-17 GODREJ PROPERTIES LIMITED

NOTES FORMING PART OF CONSOLIDATED FINANCIAL STATEMENTS

Note 38 Capital Management 9MJ
,WTZU¸X
UTQNH^
NX
YT
RFNSYFNS
F
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HFUNYFQ
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9MJ
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FX
KTQQT\X



INR (in Crore) Particulars March 31, 2017 March 31, 2016 April 1, 2015 Net Debt 3,499.06



Total Equity 2,003.73



Net Debt to Equity Ratio 1.75




Note 39 Employee Stock Option Plan

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^JFW
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2FWHM

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(TRUFS^
NSXYNYZYJI
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TUYNTSX
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8MFWJX
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.37

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(TRUFSNJX

Particulars No. of Options Weighted Average Exercise Price March 31, 2017 March 31, 2016 April 1, 2015 Options Outstanding at the beginning of 245,400   INR 310 (plus interest the year till March 31, 2012) Options granted - - - 4UYNTSX
J]JWHNXJI - - - 1JXX

+TWKJNYJI

1FUXJI
.IQJ
&[FNQFGQJ
245,400 112,000  for Reissue Options Outstanding at the year end -   INR 310(plus interest till March 31, 2012)

9MJ
J]JWHNXJ
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TK
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9WZXY
MF[J
GJJS
XTQI
IZWNSL
YMJ
^JFW

232 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2016-17 NOTES FORMING PART OF CONSOLIDATED FINANCIAL STATEMENTS

Note 40 Employee Stock Grant Scheme

9MJ
(TRUFS^
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8YTHP
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H +L[HPSZVM:[VJR.YHU[ZHYLHZ\UKLY!

No. of Options Weighted Weighted average average Share Particulars March 31, 2017 March 31, 2016 April 1, 2015 Exercise Price Price (INR) (INR) Options Outstanding at the 254,597   beginning of the year Options granted 122,127 163,507  1JXX

4UYNTSX
J]JWHNXJI

104,326     1JXX

4UYNTS
QFUXJI
57,861  26,010 Options Outstanding at the 214,537   year end

G

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.37

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.37

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5WJ[NTZX
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.37


Particulars March 31, 2017 March 31, 2016 Description of the Inputs used )N[NIJSI
^NJQI
- - Dividend yield of the options is based on recent IN[NIJSI
FHYN[NY^ *]UJHYJI
[TQFYNQNY^
29 % - 43% 

 *]UJHYJI
[TQFYNQNY^
TK
YMJ
TUYNTS
NX
GFXJI
TS
historical volatility, during a period equivalent to the option life, of the observed market prices of YMJ
(TRUFS^¸X
UZGQNHQ^
YWFIJI
JVZNY^
XMFWJX 7NXP
KWJJ
.SYJWJXY
WFYJ
6.31 % - 8.57% 

 Risk-free interest rates are based on the government securities yield in effect at the time TK
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LWFSY *]UJHYJI
QNKJ
TK
XMFWJ
TUYNTSX
1 to 3 years 1 to 3 years Weighted Average Market price INR 286.40 .37
 on date of granting the options

I
9MJ
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*8,8
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.37

(WTWJ

233 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2016-17 GODREJ PROPERTIES LIMITED

NOTES FORMING PART OF CONSOLIDATED FINANCIAL STATEMENTS

Note 41 Leases

F

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RNSNRZR
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ZSIJW
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1FYJW
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1FYJW
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0.38




Note 42 Contingent Liabilities and Commitments a) Contingent Liabilities INR (in Crore) Matters March 31, 2017 March 31, 2016 April 1, 2015 0 *SHPTZUV[(JRUV^SLKNLKHZKLI[Z!
N

(QFNRX

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Civil Court and High Court and disputed by the (TRUFS^
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opinion of the management the claims are not sustainable
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0.05



cases iii) Claims under Stamp Acts 20.02




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4YMJW
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[
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to Deputy Commissioner / Commissioner of .SHTRJ
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Deputy Commissioner / Joint Commissioner of 8FQJX
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in the High Court for The States of Punjab and Haryana at Chandigarh
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FY
'JSLFQZWZ

234 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2016-17 NOTES FORMING PART OF CONSOLIDATED FINANCIAL STATEMENTS

Matters March 31, 2017 March 31, 2016 April 1, 2015
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 II) Guarantees i) Guarantees given by Bank, counter guaranteed 20.71



by the Company ii) Guarantees given by the Company 156.00 - - III) Other Money for which Company is contingently liable
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Company b) Commitments INR (in Crore) I) Particulars March 31, 2017 March 31, 2016 April 1, 2015 N­
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\NYM
NSYJWJXY INR (in Crore) Particulars March 31, 2017 March 31, 2016 April 1, 2015

The principal amount remaining unpaid to suppliers - - -

The interest due thereon remaining unpaid to suppliers - - -

The amount of interest paid in terms of section 16 of the Micro, - - - Small and Medium Enterprises Development Act, 2006, along \NYM
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the appointed day

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Development Act, 2006

.37

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.37
 235 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2016-17 GODREJ PROPERTIES LIMITED

NOTES FORMING PART OF CONSOLIDATED FINANCIAL STATEMENTS

Note 44 Foreign Exchange Difference

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Note 45 Corporate Social Responsibility

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INR (in Crore) Particulars Amount Spent Amount yet to Total Amount in Cash be paid in Cash Year ending March 31, 2017 (i) Construction / Acquisition of any Asset --- (ii) On purposes other than (i) above 2.86 0.22 3.08 Year ending March 31, 2016 (i) Construction / Acquisition of any Asset - - - (ii) On purposes other than (i) above   

Note 46 Related Party Disclosures

 3PZ[VM9LSH[LKWHY[`KPZJSVZ\YLZHZYLX\PYLKI`0UK(:·9LSH[LK7HY[`+PZJSVZ\YLZ¸HYLNP]LUILSV^!

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2 ,TIWJO
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115
  5 )WJFR

236 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2016-17 NOTES FORMING PART OF CONSOLIDATED FINANCIAL STATEMENTS

15

237 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2016-17 GODREJ PROPERTIES LIMITED

NOTES FORMING PART OF CONSOLIDATED FINANCIAL STATEMENTS

2. The following transactions were carried out with the related parties in the ordinary course of business.

(i) Details relating to parties referred to in items 1(i), (ii) & (iii) above INR (in Crore) Godrej & Boyce Godrej Joint Other Related Manufacturing Industries =LU[\YLZ Parties in Nature of Transaction Total Company Limited Limited Associate Godrej Group (i) (i) (ii) (iii) Transactions during the Year 5ZWHMFXJ
TK
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- -

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/ Entities (ZWWJSY
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-



Issue of Equity Shares (ZWWJSY
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- -

Sale of Units (ZWWJSY
>JFW 1.19 10.18 - 117.70 129.07 5WJ[NTZX
>JFW



-



Income Received from other Companies / Entities (ZWWJSY
>JFW - - 0.75 - 0.75 5WJ[NTZX
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-

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-

Interest received on Debenture (ZWWJSY
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-

Interest Income (ZWWJSY
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-

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>JFW - - 24.71 - 24.71 5WJ[NTZX
>JFW -








238 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2016-17 NOTES FORMING PART OF CONSOLIDATED FINANCIAL STATEMENTS

Godrej & Boyce Godrej Joint Other Related Manufacturing Industries =LU[\YLZ Parties in Nature of Transaction Total Company Limited Limited Associate Godrej Group (i) (i) (ii) (iii) Amount received on transfer of Employee (Net) (ZWWJSY
>JFW - 0.56 - - 0.56 5WJ[NTZX
>JFW -

-



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 -
 Commitments / Bank Guarantee / (TWUTWFYJ
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issued (ZWWJSY
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-

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>JFW - - 4.37 - 4.37 5WJ[NTZX
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115 (ZWWJSY
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-

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-

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WJUWJXJSYX
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.37


239 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2016-17 GODREJ PROPERTIES LIMITED

NOTES FORMING PART OF CONSOLIDATED FINANCIAL STATEMENTS

Godrej & Boyce Godrej Joint Other Related Manufacturing Industries =LU[\YLZ Parties in Nature of Transaction Total Company Limited Limited Associate Godrej Group (i) (i) (ii) (iii) Amount received against Sale of Unit (ZWWJSY
>JFW - 2.35 - 108.42 110.77 5WJ[NTZX
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-



Advance received against Share of 5WTÁY (ZWWJSY
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-

Balance Outstanding as on at year end Amount Receivables (ZWWJSY
>JFW - - 616.50 - 616.50 5WJ[NTZX
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 - -

-

Amount Payables (ZWWJSY
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-



+>
 -

- -

Debenture Outstanding (ZWWJSY
>JFW - - 312.33 - 312.33 5WJ[NTZX
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-

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(ii) Details relating to parties referred to in items 1(iv) INR (in Crore) Particulars March 31, 2017 March 31, 2016 8MTWY
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GJSJÁYX 8.89

5TXY
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GJSJÁYX 0.18

Share based payment transactions 0.57

Total Compensation paid to Key Management Personnel 9.64


240 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2016-17 NOTES FORMING PART OF CONSOLIDATED FINANCIAL STATEMENTS

Particulars March 31, 2017 March 31, 2016 Dividend Paid -

.SYJWJXY
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Note 47 Financial Information of subsidiaries that have material non-controlling interests

 H 7YVWVY[PVUVMLX\P[`PU[LYLZ[OLSKI`UVUJVU[YVSSPUNPU[LYLZ[Z!

Name Principal Place of Business March 31, 2016 April 1, 2015 ,TIWJO
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Current Assets



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Net Assets 356.63 Note 48 Segment reporting A. General Information Factors used to identify the entity’s reportable segments, including the basis of organisation

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241 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2016-17 GODREJ PROPERTIES LIMITED

NOTES FORMING PART OF CONSOLIDATED FINANCIAL STATEMENTS

C. Information about Geographical Areas The geographic information analyses the Group’s revenue and Non Current Assets by the Group’s country of domicile and TYMJW
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 Reconciliation of Net Worth reported under IGAAP to Ind AS INR (in Crore) Particualars Note March 31, 2016 April 1, 2015 Net worth as per Indian GAAP 2,168.22 1,846.87 Adjustments on account of application of Ind AS Obligation to acquire Non controlling interest in Subsidiary (b)

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on convertible debentures Consolidation of ESOP Trust (e)

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Net worth as per Ind AS 1,764.82 1,733.93

242 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2016-17 NOTES FORMING PART OF CONSOLIDATED FINANCIAL STATEMENTS

9LJVUJPSPH[PVUVM5L[7YVÂ[YLWVY[LK\UKLY0.((7[V0UK(: INR (in Crore) Particulars Note For the Year Ended March 31,2016 7YVÂ[HM[LY;H_HZWLY0UKPHU.((7 231.10 Adjustments on Account of Application of Ind AS Realignment of project cost (c)
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243 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2016-17 GODREJ PROPERTIES LIMITED

NOTES FORMING PART OF CONSOLIDATED FINANCIAL STATEMENTS

(d) Proposed Dividend

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Amount (in INR) Particulars SBNs Other Denomination Notes Total Closing cash in hand as on November 8, 2016

205,975  
5JWRNYYJI
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(-) Permitted Payments -



(-) Amount deposited in Banks

-

Closing cash in hand as on December 30, 2016 - 390,530 390,530

244 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2016-17 NOTES FORMING PART OF CONSOLIDATED FINANCIAL STATEMENTS

Note 51 Information on Subsidiaries, Joint Ventures and Associate

H¯¯¯¯0UMVYTH[PVUVU:\IZPKPHYPLZ 

Sr. Name of the Entity Country of Percentage of Holding No. Incorporation March 31, 2017 March 31, 2016 April 1, 2015 % (i) Companies 1 ,TIWJO
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1NRNYJI India 100%   2 ,TIWJO
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 Godrej Garden City Properties Private India 100%   1NRNYJI
5 ,TIWJO
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7 Godrej Home Developers Private India 100%   1NRNYJI
 Godrej Investment Advisers Private India 100%  3& 1NRNYJI
9 ,TIWJO
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10 5WFPWNYNUQF_F
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12 ,TIWJO
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1NRNYJI India 100% 3& 3& (Incorporated on March 16, 2017)

245 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2016-17 GODREJ PROPERTIES LIMITED

NOTES FORMING PART OF CONSOLIDATED FINANCIAL STATEMENTS

Sr. Name of the Entity Country of Percentage of Holding No. Incorporation March 31, 2017 March 31, 2016 April 1, 2015 % (ii) LLPs 1 ,TIWJO
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 b) Information on Joint Ventures

(i) Companies 1 ,TIWJO
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India 51%   5WN[FYJ
1NRNYJI
3 Godrej Redevelopers (Mumbai) India 51%   5WN[FYJ
1NRNYJI  Wonder Space Properties Private India 25.10%   1NRNYJI 5

246 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2016-17 NOTES FORMING PART OF CONSOLIDATED FINANCIAL STATEMENTS

 Wonder Projects Development India 20%  3& 5WN[FYJ
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(ceased to be Subsidiary from September 19, 2016) 9 ,TIWJO
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115
India 1%   3 )WJFR

247 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2016-17 GODREJ PROPERTIES LIMITED

NOTES FORMING PART OF CONSOLIDATED FINANCIAL STATEMENTS

Note 52 Additional Information, as required under Schedule III to the Companies Act, 2013, of enterprises JVUZVSPKH[LKHZ:\IZPKPHY`1VPU[=LU[\YLZ(ZZVJPH[L 

Share in Net Assets i.e. total Share in Share in Total assets Other Comprehensive WYVÂ[VYSVZZ Comprehensive Sr. minus total liabilities Income (OCI) Name of the Entity Income (TCI) No. As % of Amount As % of Amount As % of Amount Amount As % of consolidated INR (in consolidated INR (in consolidated INR (in INR (in TCI net assets Crore) WYVÂ[VYSVZZ Crore) OCI Crore) Crore) 7HYLU[! Godrej Properties  



 

1NRNYJI Subsidiaries 0UKPHU! 1 Godrej Real Estate  
  
 --  
 5WN[FYJ
1NRNYJI 2 Godrej Buildcon 



--

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3 Godrej Projects 

 
 
  
 Development Private 1NRNYJI
 Godrej Garden City 



--

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5 Godrej Green Homes 



--

1NRNYJI
6 Godrej Hillside 



--

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7 Godrej Home 



--

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 Godrej Investment 



--

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9 Godrej Prakriti 



--

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10 5WFPWNYNUQF_F
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 - -- - Management Private 1NRNYJI 11 Godrej Highrises 



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.37

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.37


248 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2016-17 NOTES FORMING PART OF CONSOLIDATED FINANCIAL STATEMENTS

Share in Net Assets i.e. total Share in Share in Total assets Other Comprehensive WYVÂ[VYSVZZ Comprehensive Sr. minus total liabilities Income (OCI) Name of the Entity Income (TCI) No. As % of Amount As % of Amount As % of Amount Amount As % of consolidated INR (in consolidated INR (in consolidated INR (in INR (in TCI net assets Crore) WYVÂ[VYSVZZ Crore) OCI Crore) Crore) 12 Godrej Genesis 



--

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Management Private 1NRNYJI
13 Godrej Vikhroli 



--

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 --  
 1NRNYJI 15 Godrej Skyline 
 
 --
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 --
 5WTUJWYNJX
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 --
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 --
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 --
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Associate (Indian) (Investment as per Equity Method) 1 Godrej One Premises -- - -- - Management Private 1NRNYJI

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.37


249 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2016-17 GODREJ PROPERTIES LIMITED

NOTES FORMING PART OF CONSOLIDATED FINANCIAL STATEMENTS

Share in Net Assets i.e. total Share in Share in Total assets Other Comprehensive WYVÂ[VYSVZZ Comprehensive Sr. minus total liabilities Income (OCI) Name of the Entity Income (TCI) No. As % of Amount As % of Amount As % of Amount Amount As % of consolidated INR (in consolidated INR (in consolidated INR (in INR (in TCI net assets Crore) WYVÂ[VYSVZZ Crore) OCI Crore) Crore) Joint Venture (Indian) (Investment as per the Equity Method) 1 Godrej Realty Private --  
 - -  
 1NRNYJI 2 ,TIWJO
1FSIRFWP
--

- - 

Redevelopers Private 1NRNYJI
3 Godrej Redevelopers --

- - 

(Mumbai) Private 1NRNYJI  Wonder Space --  
 - -  
 Properties Private 1NRNYJI 5 Wonder City --

- - 

Buildcon Private 1NRNYJI
6 Godrej Home --  
 - -  
 Constructions Private 1NRNYJI
7 ,TIWJO
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--  
 - -  
 Housing Private 1NRNYJI
 Wonder Projects --  
 - -  
 Development Private 1NRNYJI
9 ,TIWJO
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 - - 
 Properties Private 1NRNYJI 11 Godrej Property --
 - - 
 )J[JQTUJWX
115
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--

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115
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115
--

- - 

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 250 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2016-17 NOTES FORMING PART OF CONSOLIDATED FINANCIAL STATEMENTS

Share in Net Assets i.e. total Share in Share in Total assets Other Comprehensive WYVÂ[VYSVZZ Comprehensive Sr. minus total liabilities Income (OCI) Name of the Entity Income (TCI) No. As % of Amount As % of Amount As % of Amount Amount As % of consolidated INR (in consolidated INR (in consolidated INR (in INR (in TCI net assets Crore) WYVÂ[VYSVZZ Crore) OCI Crore) Crore) 15 ,TIWJO
885)1
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--  
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17 M S Ramaiah --  
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--  
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20 Godrej Housing --  
 - -  
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21 Amitis Developers --  
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22 &
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--  
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251 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2016-17 GODREJ PROPERTIES LIMITED

NOTES FORMING PART OF CONSOLIDATED FINANCIAL STATEMENTS India India India India India India India India India India India India India India India Singapore Country INR (in Crore)   VM*VTWHUPLZ % of Holding*



 
  after (Loss) 7YVÂ[ taxation

- - - - 
  Provision Provision for taxation - -

 7YVÂ[ before before taxation










































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- -

------Investments Turnover Total Total Liabilities



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- & Surplus Reserves

























































































































































































Capital TO TO Period 
 
 Accounting

INR INR 2016-17 INR 2016-17 INR 2016-17 INR 2016-17 INR INR 2016-17 INR 2016-17 INR 2016-17 INR 2016-17 INR 2016-17 INR 2016-17 INR 2016-17 INR 2016-17 INR 2016-17 US $ 2016-17 Currency Reporting Name of Liability Partnership :\IZPKPHY`*VTWHU`3PTP[LK 5WFPWNYNUQF_F
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2 13 1 12 Investment Advisers Private Godrej 11 Private Highrises Properties Godrej (Accounts) Rules, 2014, in the prescribed form AOC - I relating to Subsidiary Companies, Joint Ventures and Associate. to Subsidiary Companies, Joint Ventures form AOC - I relating (Accounts) Rules, 2014, in the prescribed 7HY[·(¸!:\IZPKPHYPLZ (UUL_\YL(!:[H[LTLU[W\YZ\HU[[VÂYZ[WYV]PZV[V:\I:LJ[PVU 252 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2016-17 NOTES FORMING PART OF CONSOLIDATED FINANCIAL STATEMENTS India India India India Country INR (in Crore) % of Holding*

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&8 253 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2016-17 GODREJ PROPERTIES LIMITED

NOTES FORMING PART OF CONSOLIDATED FINANCIAL STATEMENTS

------in Not Considered Considered Consolidation - - 7YVÂ[3VZZMVY[OL@LHY Consolidation Considered in Considered








































audited Networth as per latest Shareholding Shareholding attributable to Balance Sheet NA NA NA NA NA NA NA NA NA NA NA NA NA is not Reason why joint venture joint venture consolidated M

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holding holding holding holding holding holding holding holding holding holding PUÃ\LUJL holding and holding and holding and Voting rights Voting Voting rights Voting Voting rights Voting Description of how there of how there PZZPNUPÂJHU[  YMWTZLM

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in Joint Venture Amount of Investment

NA - NA NA the Company on the Year End the Company on Year 25,500 No of Share Shares of Joint Ventures held by of Joint Ventures Shares 700,100 176,000 3,552,500 1,071,770 1,192,000 to to Latest audited Balance   
 



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in Joint Venture Amount of Investment NA NA NA NA NA NA NA NA NA NA NA the Company on the Year End the Company on Year No of Share Shares of Joint Ventures held by of Joint Ventures Shares to Latest audited Balance   
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19  Construction Godrej 255 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2016-17 GODREJ PROPERTIES LIMITED

NOTES FORMING PART OF CONSOLIDATED FINANCIAL STATEMENTS Not considered in considered Consolidation - - 7YVÂ[3VZZMVY[OL@LHY Consolidation Considered in Considered

audited Networth attribute to as per latest Shareholding Shareholding Balance Sheet NA is not associate Reason why consolidated holding PUÃ\LUJL of how there of how there PZZPNUPÂJHU[ Extent of Holding % 5X

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'TFWI Executive ChairmanCompany Secretary & CEO Managing Director 256 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2016-17 NOTICE

Notice is hereby given that the Thirty-Second Annual General Meeting (“AGM”) of the members (“Members”) of Godrej Properties Limited (“Company”) will be held on Wednesday, August 02, 2017, 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:


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re-appointment.



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their remuneration as may be mutually agreed with the Statutory Auditors, in addition to reimbursement of service tax and out of pocket J]UJSXJX
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th Annual General Meeting of the Company to be held NS
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addition to service tax and re-imbursement of out of pocket expenses, travelling expenses etc. incurred by them in connection with the audit of Accounts of the Company.”

SPECIAL BUSINESS:



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th Annual General Meeting held on August 

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Company be and is hereby re-designated as Executive Chairman of the Company with effect from April 1, 2017 till the end of the tenure TK
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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 payment of revised remuneration YT
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herein below.

I. Fixed Compensation:

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The basic salary payable to Mr. Pirojsha Godrej is `

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II. Performance Bonus for teams:

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performance of Mr. Pirojsha Godrej as Executive Chairman.

The collective target component is ` 1,00,00,000.

257 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2016-17 GODREJ PROPERTIES LIMITED

NOTICE

III. Flexible Compensation:

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The maximum cost to the Company per annum for the grant of the perquisites and allowances listed above to Mr. Pirojsha Godrej as Executive Chairman is `

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\NYM
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KTW
TKÁHNFQ
ZXJ
UJYWTQ
WJNRGZWXJRJSY
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KFHNQNYNJX
UF^RJSY
WJNRGZWXJRJSY
TK
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J]UJSXJX
KTW
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FSI
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LWTZU
NSXZWFSHJ
HT[JW
LWTZU
MTXUNYFQN_FYNTS
HT[JW
MTZXNSL
QTFS
FSI
TW
HTSYNSLJSH^
QTFS
FX
UJW
YMJ
WZQJX
TK
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(TRUFS^
XZGOJHY
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(JSYWFQ
,T[JWSRJSY¸X
FUUWT[FQ
NK
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allowances and perquisites and facilities as per the rules of the Company in force and as recommended by the Nomination and 7JRZSJWFYNTS
(TRRNYYJJ
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QJFXJI
accommodation will be at actuals.

Explanation:

N

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QJF[J
YWF[JQ
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RJINHFQ
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·KFRNQ^¸
RJFSX
YMJ
XUTZXJ
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 NSHZWWJI
G^
MNR
NS
HTSSJHYNTS
\NYM
YMJ
(TRUFS^¸X
GZXNSJXX
FSI
XZHM
TYMJW
GJSJÁYXFRJSNYNJX
FSI
TYMJW
UWN[NQJLJX
FX
NS
KTWHJ
KWTR
time to time.

RESOLVED FURTHER THAT approval be and is hereby accorded to make application to Central Government, if necessary, as per the UWT[NXNTSX
TK
8JHYNTS

FSI

TK
YMJ
&HY
KTW
TGYFNSNSL
NYX
FUUWT[FQ
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TK
WJRZSJWFYNTS
FX
FGT[J
NS
YMJ
J[JSY
NY
J]HJJIX
NS
FS^
ÁSFSHNFQ
^JFW
YMJ
QNRNYX
UWT[NIJI
NS
5FWY
..
TK
8HMJIZQJ
;
YT
YMJ
&HY

RESOLVED FURTHER THAT
YMJ
'TFWI
TK
)NWJHYTWX
TK
YMJ
(TRUFS^
GJ
FSI
NX
MJWJG^
FZYMTWN_JI
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J]JHZYJ
YMJ
FLWJJRJSY
\NYM
Mr. Pirojsha Godrej for the revised remuneration with effect from April 01, 2017 on the terms and conditions as provided above and to do all such acts, deeds, matters 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.”



9T
HTSXNIJW
FSI
NK
YMTZLMY
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YT
UFXX
YMJ
KTQQT\NSL
WJXTQZYNTS
FX
F
Special Resolution:

“RESOLVED THAT NS
UFWYNFQ
RTINÁHFYNTS
YT
YMJ
WJXTQZYNTS
UFXXJI
G^
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2JRGJWX
FY
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th Annual General Meeting held on &ZLZXY


2W
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@).3
B
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)NWJHYTW

(MNJK
*]JHZYN[J
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FX
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NS
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TK
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TK
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(TRUFS^
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JKKJHY
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&UWNQ


ZSYNQ
2FWHM



258 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2016-17 NOTICE

RESOLVED FURTHER THAT
UZWXZFSY
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YMJ
UWT[NXNTSX
TK
8JHYNTSX

FSI

WJFI
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8HMJIZQJ
;
FSI
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UWT[NXNTSX
NK
FS^
TK
YMJ
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&HY

WJFI
\NYM
YMJ
WZQJX
RFIJ
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NSHQZINSL
FS^
XYFYZYTW^
RTINÁHFYNTSX
TW
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KTW
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 payment of revised remuneration YT
2W
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³
2FSFLNSL
)NWJHYTW

(MNJK
*]JHZYN[J
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).3 
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conditions as mentioned herein below.

I. Fixed Compensation:

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(TRUJSXFYNTS
XMFQQ
NSHQZIJ
GFXNH
XFQFW^
FSI
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(TRUFS^¸X
HTSYWNGZYNTS
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5WT[NIJSY
+ZSI
FSI
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,WFYZNY^
+ZSI

The basic salary payable to Mr. Mohit Malhotra is `

UJW
RTSYM
9MJ
FSSZFQ
GFXNH
XFQFW^
FSI
NSHWJRJSYX
IZWNSL
MNX
YJWR
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G^
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FSI
7JRZSJWFYNTS
(TRRNYYJJ
FSI
\NQQ
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IJHNIJI
G^
YMJ
'TFWI
TK
)NWJHYTWX
IJUJSINSL
TS
YMJ
UJWKTWRFSHJ
TK
2W
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2FQMTYWF
YMJ
UWTÁYFGNQNY^
TK
YMJ
(TRUFS^
FSI
TYMJW
WJQJ[FSY
KFHYTWX

II. Performance Bonus for teams:

5JWKTWRFSHJ
GTSZX
KTW
YJFRX
µ5'+9¶
FHHTWINSL
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XHMJRJ
TK
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(TRUFS^
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ÁSFSHNFQ
^JFW
NS
FHHTWIFSHJ
\NYM
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performance of Mr. Mohit Malhotra.

The collective target component is ` 10,000,000

III. Flexible Compensation:

.S
FIINYNTS
YT
YMJ
Á]JI
HTRUJSXFYNTS
FSI
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UJWKTWRFSHJ
GTSZX
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\NQQ
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YMJ
KTQQT\NSL
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KFHNQNYNJX
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FRJSNYNJX
FX
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TK
YMJ
(TRUFS^
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XZGOJHY
YT
YMJ
WJQJ[FSY
UWT[NXNTSX
of the Act (collectively, the “perquisites and allowances”).

These perquisites and allowances shall be granted to Mr. Mohit Malhotra as per the rules of the Company and in the manner as the 3TRNSFYNTS
FSI
7JRZSJWFYNTS
(TRRNYYJJ
RF^
WJHTRRJSI
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)NWJHYTWX
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IJHNIJ

N
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7JSY
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NN
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5WTKJXXNTSFQ
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NNN

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FSI
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N[
+TTI
;TZHMJWX
UJYWTQ
WJNRGZWXJRJSY

YJQJUMTSJ
WJNRGZWXJRJSY

[
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QJF[J
TS
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STY
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IF^X
NS
F
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FX
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TK
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(TRUFS^

The maximum cost to the Company per annum for the grant of the perquisites and allowances listed above to Mr. Mohit Malhotra is `

.S
FIINYNTS
YT
YMJ
FGT[J
2W
2TMNY
2FQMTYWF
\NQQ
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TK
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JSHFXMRJSY
TK
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KFHNQNYNJX
LWTZU
NSXZWFSHJ
HT[JW
LWTZU
MTXUNYFQN_FYNTS
HT[JW
WJNRGZWXJRJSY
TK
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J]UJSXJX
MTZXNSL
QTFS
FSI
TW
HTSYNSLJSH^
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FX
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TK
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(TRUFS^
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FUUWT[FQ
NK
WJVZNWJI
FSI
TW
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FSI
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FX
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TK
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(TRUFS^
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KTWHJ
FSI
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3TRNSFYNTS
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7JRZSJWFYNTS
(TRRNYYJJ
FSI
IJHNIJI
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'TFWI
TK
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YNRJ
YT
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2W
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YT
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XYTHP
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schemes of the Company.

Explanation:

N

+TW
YMJ
QJF[J
YWF[JQ
FXXNXYFSHJ
FSI
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TK
RJINHFQ
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·KFRNQ^¸
RJFSX
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XUTZXJ
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 NSHZWWJI
G^
MNR
NS
HTSSJHYNTS
\NYM
YMJ
(TRUFS^¸X
GZXNSJXX
FSI
XZHM
TYMJW
GJSJÁYXFRJSNYNJX
FSI
TYMJW
UWN[NQJLJX
FX
NS
KTWHJ
KWTR
time to time.

259 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2016-17 GODREJ PROPERTIES LIMITED

NOTICE

RESOLVED FURTHER THAT approval be and is hereby accorded to make application to Central Government, if necessary, as per YMJ
UWT[NXNTSX
TK
8JHYNTSX

FSI

TK
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NS
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..
TK
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;
YT
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&HY

RESOLVED FURTHER THAT
YMJ
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(TRUFS^
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FX
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)NWJHYTW
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from April 01, 2017 on the terms and conditions as provided above and to do all such acts, deeds, matters 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.”


9T
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RTINÁHFYNTS X
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FX
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Ordinary Resolution:

“RESOLVED THAT
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UWT[NXNTSX
TK
8JHYNTS

FSI
FQQ
TYMJW
FUUQNHFGQJ
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&HY

FSI
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7ZQJX

FSI
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7
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`

7ZUJJX
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the aforesaid audit.

RESOLVED FURTHER THAT
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IT
all acts and take all such steps as may be necessary, proper or expedient to give effect to this resolution.”



9T
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RTINÁHFYNTS X
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FX
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Special Resolution:

“RESOLVED THAT NS
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YT
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UFXXJI
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2JRGJWX
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FSI
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TK
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TK
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and the Articles of Association of the Company and all other provisions of applicable law, consent of the Members be and is hereby granted YT
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banks, mutual funds, trusts and other bodies corporate (hereinafter referred to as the “Lending Agencies”), whether by way of advances, QTFSX
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of `

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RESOLVED FURTHER THAT
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that may arise in respect of the borrowing(s) as aforesaid and further to do all such acts, deeds and things and to execute all documents and writings as may be necessary, proper, desirable or expedient to give effect to this resolution.”



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FX
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Special Resolution:

“RESOLVED THAT NS
XZUJWXJXXNTS
YT
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WJXTQZYNTS
UFXXJI
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2JRGJWX
TK
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(TRUFS^
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'FQQTY
TS
/ZSJ


FSI
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TK
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  F
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NK
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&HY

YMJ
µ(TRUFSNJX
&HY¶
FX
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TK
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TK
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and the Articles of Association of the Company and all other provisions of applicable law, consent of the Members be and is hereby LWFSYJI
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'TFWI
TK
)NWJHYTWX
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(TRUFS^
MJWJNSFKYJW
WJKJWWJI
YT
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µ'TFWI¶
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NSHQZIJ
FS^
(TRRNYYJJ
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G^
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J]JWHNXJ
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TS
YMJ
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G^
YMNX
7JXTQZYNTS
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260 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2016-17 NOTICE

value not exceeding `

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arrangements for managing the issue, issue placement documents and to sign all deeds, documents and writings and to pay any fees, remuneration, expenses relating thereto and for other related matters and with power on behalf of the Company to settle all questions, INKÁHZQYNJX
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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

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261 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2016-17 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 AT ;/,4,,;05.(WLYZVUJHUHJ[HZHWYV_`VUILOHSMVMUV[TVYL[OHUÂM[`4LTILYZHUKOVSKPUNPU[OLHNNYLNH[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.


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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.


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Secretarial Standards issued by the Institute of Company Secretaries of India, in respect of the director seeking re-appointment under item no. 2 of this Notice, are annexed.


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263 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2016-17 GODREJ PROPERTIES LIMITED

NOTICE

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264 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2016-17 NOTICE

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265 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2016-17 GODREJ PROPERTIES LIMITED

NOTICE

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266 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2016-17 NOTICE

Taking into account the business operations and future growth plans of the Company and to cater to the working capital needs, it is proposed to enhance the borrowing limits from ` 2,250 Crore to ` 2,750 Crore, notwithstanding that the monies to be borrowed by the Company together \NYM
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3TYNHJ 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

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 Website: www.godrejproperties.com Email : [email protected]

267 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2016-17 GODREJ PROPERTIES LIMITED

NOTICE

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 Director Mr. Pirojsha Godrej Mr. Mohit Malhotra (DIN: 00432983 ) (DIN: 07074531) Particulars

Age   Nationality Indian Indian

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268 GODREJ PROPERTIES LIMITED ANNUAL REPORT 2016-17 PROXY FORM  GODREJ PROPERTIES LIMITED (.3
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FUUWTUWNFYJ VENUE OF THE MEETING 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 Trees Godrej One, 5th Floor, Pirojshanagar, Eastern Express Highway, Vikhroli East, Godrej Golf Links Mumbai - 400079 Plot no. REP-1, Sector 27, Near Pari Chowk, Greater Noida Godrej Emerald, Ghodbunder Road, Bhayandarpada, Thane (W) - 400615

Godrej 101 Sector 79, Gurgaon

Godrej Sky Ghodapdeo 4th Cross Rd, Ferbandar, Ghodapdeo, Byculla East, Byculla, Mumbai - 400033

Godrej Vihaa Godrej Avenues, Neral- Maharashtra Industrial Yelahanka – Doddaballapur Main Road, development corporation Near BMS Institute of Technology, Besides Usha Kiran Residency, Yelahanka, Bengaluru - 560089. Neral-Badlapur Rd, Godrej Infinity Badlapur - 421502 Oxford Group, Godrej Eternity Building B, 3rd Floor, 501, Holiday Village Road, Kensington Court, 5th Lane, Near Sri Kumaran’s School, Koregaon Park, Off Kanakapura Main Road, Mallasandra, Pune - 411 001 Bengaluru - 560062

Godrej 24, Rajiv Gandhi Infotech Park, Next to Wipro, Hinjewadi, Phase 1, Pune - 411057