CONTENTS

Vision .............................................................................................................................. 02

The Year That Was .......................................................................................................... 04

Company Information ...................................................................................................... 06

Awards & Recognition ..................................................................................................... 08

Executive Chairman’s Message ....................................................................................... 12

Management Discussion and Analysis ............................................................................. 16

Directors Report and Annexures ...................................................................................... 30

Report on Corporate Governance.................................................................................... 75

Business Responsibility Report ........................................................................................ 92

Standalone Financials ...................................................................................................... 104

Consolidated Financials ................................................................................................... 175

Notice and Explanatory Statement................................................................................... 250

This annual report is printed on Eco-Friendly Paper

VISION

02
GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18
We aspire to be the nation’s leading and most trusted real estate company. We shall deliver
superior value to all stakeholders through extraordinary and imaginative spaces and
service created out of deep customer focus and insight.

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GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18
THE YEAR
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three developers by value of real estate sold in
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value of over INR 800 crore in each of the four
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GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18
MESSAGE FROM THE
EXECUTIVE
CHAIRMAN Pirojsha Godrej
Executive Chairman,
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FY18 has been the best ever year for Godrej Properties on three
very important operating parameters: sales, operating cash flows,
and business development. Sales in FY18 grew by 152% to
INR 5,083 crore, ensuring it was GPL’s best ever year in terms of
the value of real estate we sold. As a result, we have once again
emerged as the largest publicly listed developer in India by sales
value in FY18.

Dear Shareholders, To deliver outstanding experiences for our customers, our

employees must be engaged and empowered to deliver
I am happy to report that FY18 has been a year of great
their best. For the most senior members of our team, who
progress at your company, both in terms of operational results
comprise the management committee of the business, we’ve
and improvements to business standards. We continue
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to focus our energies on customer centricity, employee
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organization generates shareholder value that far exceeds our
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industry peers. Similarly, for all employees, we’ve introduced
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component of every employee’s goals and incentives. This community. We are also proactively building gender balanced
reinforces a mindset that puts the customer at the center of teams, by performing a rigorous wage gap audit and creating
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One important area of pride and motivation for our team at trainings, and efforts to reduce dengue and malaria infections.
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development, and I am happy to share that this year, your
history allowing them to scale their operations and create new
company was ranked 2nd in Asia & 6th globally by the Global
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becomes the largest township in India to be IGBC Green
also proud of our integrated watershed management program,
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in each of the four largest markets in FY18, with a leadership a result, we have generated INR 1,868 crore of net operating
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and a number three position in Bangalore. We sold more than INR 653 crore while continuing to rapidly grow the company’s
1.25 million sq. ft. with a booking value of over INR 800 crore development portfolio.
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in India to achieve this scale across multiple geographies.
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in India.

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GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18
The Indian real estate sector has undergone a lot of disruption, YT
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consolidation in the sector. A weak property market and
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increasing customer preference for stronger developers
of talented individuals and I am grateful to them for their
has created an unprecedented business development
tremendous efforts and outstanding results. We would like
opportunity for developers with strong customer franchises
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associates for their support. Finally, thanks to you, our
on these opportunities in the business development space.
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rapid growth in the coming years, your company successfully
Best Wishes,
raised INR 1,000 crore of equity capital in June 2018 from a
leading global investor.
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next two decades. Within India, the real estate sector is likely

015
GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18
MANAGEMENT
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According to The World Economic Outlook (WEO) update around 120 economies,
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in 2017, the broadest synchronized global growth upsurge since 2010. Global output is
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recover on the back of buoyant trade and investment.

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corporate income tax cuts. Growth rates for many of the euro area economies have been
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momentum in domestic demand and higher external demand.

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making it the fastest growing economy among emerging economies.

016
GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18
MANAGEMENT DISCUSSION
.VKYLQ(SP]L4\TIHP
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05+0(5,*6564@ economy. According to the Deloitte Voice of Asia report,

revival in rural demand and increased infrastructure spending
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are key economic drivers that are likely to drive the economy’s
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growth in the current year in spite of obstacles like rising debt
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and the recent trade protectionism. After a year of disruptions
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and growth slowdown, the Indian economy is consolidating
since the 2nd quarter of FY17, ahead of the demonetization
the gains from the recent reforms and is moving in the right
in November 2016. The turnaround in the economy was
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rural demand this year. The World Bank in its India Economic Economic Research indicates that every additional rupee of
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capital invested in the housing sector adds INR 1.54 to the

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urbanization, rising household income and the emergence of
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steadily moving towards greater formalization of the informal key drivers of growth for the real estate sector.

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GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18
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Act (RERA) reform in 2017 has triggered accelerated
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consolidation. Customer preferences also have shifted
model are better placed to grow market share in a regulatory
towards better quality and branded developments. Access
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requirements rise. The organized sector should be able to transparency from developers.
more than double its market share of the residential property
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real estate market. The top 10 Chinese developers accounted residential market breached new lows in terms of supply and
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volumes during this decade, the annual supply levels in the
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of those in 2015. The NCR was the most affected market with
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unfold in India as well. to 0.23 million units.

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018 (Y[PZ[ºZPTWYLZZPVU5V[HUHJ[\HSZP[LWOV[VNYHWO
GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18
MANAGEMENT DISCUSSION
& ANALYSIS

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have increased the confidence of and infrastructure delays and policy initiatives such as RERA
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mortgage rates and steady income increases. Incrementally, than launching new ones. This led to a severe contraction in
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 at 41.7 million sq. ft. which continue to substantially exceed
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019
GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18

The affordable housing segment
is expected to continue to drive
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funds eyeing opportunities in this
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segment along with the government’s
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sanctioned building plans, amongst others. While other state
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still not available in many states. Though things are falling into
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of real estate information to all stakeholders.
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service tax and value added tax (VAT) which were levied by
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020
GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18
uniform market and eliminate multiple levels of taxation. This is
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has increased the carpet area of houses eligible for interest
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per annum. As of June 11, an amount of INR 7.36 billion
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the country.
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way for investors to trade in prime commercial real estate.
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MANAGEMENT DISCUSSION
& ANALYSIS
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regulatory environment can adversely impact the performance
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construction approvals. Retrospective policy changes and
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attractiveness of the sector and companies operating within
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per National Real Estate Development Council. After two years,
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buildings in Greater Mumbai for six months on the condition
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021
GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18
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Despite being the second largest employer in the country, the
spread across more than ~150 million sq. ft. in 12 cities.
construction sector as a whole faces manpower shortages.
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which increases the timelines for construction companies to all stakeholders through extraordinary and imaginative
and results in supply getting deferred. There is a need to spaces created out of deep customer focus and insight.
promote new mass housing construction technologies such ,51
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the essence of excellence. To that end, we have worked with
homes and tunnel formwork technologies to name a few. the best designers, architects and contractors within India
Active R&D in modern technology space must be promoted. and around the globe to deliver imaginative and sustainable
spaces. By bringing together the best talent in the global real
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last into the future and foresee the needs of each and every
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sustainability, and excellence to the real estate industry. <J
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across India due to its long standing presence in the Indian
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022
GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18
MANAGEMENT DISCUSSION
& ANALYSIS

For the first time, we have largely been possible by combining our traditional strength in
new launches with a strong improvement in sales from existing
emerged as amongst the top inventory, which stood at INR 2,780 crore in FY18. The total
three developers by value of value of bookings in FY18 stood at INR 5,083 crore, which
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real estate sold in each of our has emerged as the largest publicly listed developer in India by
sales value in FY18. We are especially pleased with this sales
four focus markets of Mumbai, performance given that sales for the industry as a whole have
NCR, Bangalore, and Pune. IJHQNSJI
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was launched in FY17 witnessed strong sales from existing
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operates and the trust it has developed over the course of its YMJ
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185 crore in the launch quarter. Total sales in Mumbai stood at
brand and its association with trust, quality and reliability help ~1.51 million sq. ft. with a booking value of INR 2,347 crore.
us in many aspects of our business.
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business associations. The brand has also helped us build which has been weak for the last several years. After having
deeper relationships with our customers, service providers, done well in Gurgaon, we successfully entered the Noida
process partners, investors and lenders all of which has led RFWPJY
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to us acquiring a strong position within the sector. In addition, Noida received a tremendous response with 500 apartments
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quarter. Our cumulative sales in the Noida market have
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crossed 1 million sq. ft. with a booking value in excess of INR
Your Company posted its best ever sales performance in FY18 
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in terms of the value and volume of real estate we have been NS
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portfolio. We sold more than 250 apartments with a booking
sales of more than INR 1,000 crore in each of the four quarters value of close to INR 244 crore in the launch month. Total
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sales in NCR stood at ~1.58 million sq. ft. with a booking value
as amongst the top three developers by value of real estate
of INR 906 crore.
sold in each of our four focus markets of Mumbai, NCR,
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and the third largest developer in Bangalore by value of real
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though the market conditions in these two cities are haven’t
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other real estate developers and in India. The Indian real estate sector has undergone a lot
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agreements. With rapid consolidation underway in the sector,
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sustainable design and will offer approximately 1.2 million centric real estate organization in the country. To ensure a
square feet of built space.
consistent and positive customer experience across all our

024
GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18
MANAGEMENT DISCUSSION
.VKYLQ.VSK*V\U[`)HUNHSVYL
& ANALYSIS

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considering the long gestation period from sales to handover.
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for organizations to measure, understand and improve their
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our customer experiences.
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025
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 7HY[PJ\SHYZ :HSLHISL(YLH FX
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GRESB is committed to rigorous and independent evaluation
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of the sustainability performance of real assets across the
through the construction period. In our integrated process, the
globe. GRESB data is used by more than 200 institutional way we design our developments takes on key importance.
investors, listed property companies and fund managers and is :YNQN_NSL
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backed by all leading international real estate associations and energy consumption in buildings which in turn reduces
industry bodies. It provides investors the tools to benchmark their operational carbon footprint. Our focus on sustainable
their investments against each other based on property type, development covers environmental parameters including site
country and regional peer groups. GRESB is widely recognized selection and planning, pedestrian friendly developments,

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026
GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18
MANAGEMENT DISCUSSION
& ANALYSIS

GPL was ranked 2nd in Asia & 9MJ
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6th globally by GRESB (Global ‰

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driven organization which
As part of our sustainability practices, we monitor sustainability
assesses Environmental, across all domains of our business in line with the parameters
of the Global Reporting Initiative Generation 4 (GRI G4)
Social and Governance (ESG) guidelines. We undertake Sustainability reporting as per GRI
performance of real estate G4 Core for internal purposes. The Global Reporting Initiative
(GRI) is a comprehensive framework for product responsibility
assets globally. and ensuring triple bottom line sustainability for business. It is
indoor environmental quality, maximizing day lighting and F
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social, environmental & economic aspects. This assessment
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technologies and materials and understand our environmental
mandate. This has allowed us to leverage sustainable design
footprint. We have initiated cross functional learning’s and best
as an innovation mechanism and has proved useful for us
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green under credible external ratings systems such as the
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we are one of the founding members of the IGBC, which is We give high priority to the health and safety of our employees.
actively involved in promoting green building concepts in India. An effective way of ensuring this is building a safety culture,
where safety is the responsibility of each and every employee.
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system which has comprehensive safety checks at each step
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stage. We have a dedicated safety team at each site which is
effort with leading Indian housing sector companies to drive
entrusted with the responsibility of promoting safety among all
sustainability in India’s housing market. Brought together
employees. This team undertakes numerous awareness and
by the International Finance Corporation (IFC), a member of
training programs besides creating and executing a monthly
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sustainable urban development. It makes relentless efforts safety activity plan for each site. The safety committee at sites
for providing leadership and advocacy for industry and are composed of management and worker representatives and
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GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18
 World Environment Day, Road Safety Week and Fire Service
A weak property market and Day are celebrated across our sites as they provide important
platforms to create awareness about health and safety.
increasing customer preference for :HML[`(\KP[
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an unprecedented business health and safety management system, including the policy
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development opportunity for incidents. We conduct a safety audit on a quarterly basis. The
analysis of safety audit gives us scope for further improvement
developers with strong customer in health and safety management system.
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have a proud legacy built on the strong values of trust, integrity
well placed to capitalize on these and respect for others. At the same time, our exciting and
opportunities in the business ambitious growth plans allow us to offer unparalleled career
opportunities relatively early on in a person’s career. Core
development space. to our employer brand, is the philosophy of tough love. We
expect the best from our employees, differentiate on the basis
of performance and potential through career opportunities and
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rewards and lay particular emphasis on developing, mentoring
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is guided and audited by a safety and health infra tracker. The
increased our total employee strength from 1,004 to 1,174
contractor signs a legal undertaking while rolling out the site
employees over the year.
health and safety plan. This also provides guidelines to the
contractors for undertaking work at the site. &Y
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of our total workforce which is one of the highest women
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participation rates in the real estate sector. Our women
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leaders succeed in roles across all aspects of our operations.
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an enabling work environment. Inclusivity is a central tenet of
medical examination is conducted for workers being employed our culture and organizational value system. We look forward
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vehicles undergo thorough medical examination at the time of focus on diversity and inclusion.
being employed as well as at regular intervals of time.

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We believe that skill enhancement, capability building and

awareness are the strongest pillars of our safety and health
management system. Thus, we give special impetus to
awareness programs, skill training sessions, motivational
campaigns and heath camps. In the reporting year we
conducted more than 7,800 safety training sessions with
close to 177,000 attendees. Events like National Safety Day,
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028
GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18
 MANAGEMENT
;OL;YLLZ=PROYVSP DISCUSSION
& ANALYSIS
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the industry and the overall investment climate may adversely
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The real estate sector in India is heavily regulated by the
central, state and local governments. Real estate developers
are required to comply with a number of laws and regulations,
including policies and procedures established and
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transfer of property, registration and use of land. These laws
often vary from state to state. Several of your Company’s
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in obtaining approvals could warrant revised scheduling of
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transformation. India’s fragmented property sector is
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introduction of GST and The Real Estate (Regulation and
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growing transparency and improving policies, the country’s
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recovery in the sector and improve market share in the years
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029
GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18
DIRECTORS’ REPORT FOR
THE FINANCIAL YEAR ENDED
MARCH 31, 2018
TO THE MEMBERS
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DIRECTORS’ REPORT FOR THE FINANCIAL
YEAR ENDED MARCH 31, 2018
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employees and other stakeholders to report their genuine
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YEAR ENDED MARCH 31, 2018

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DIRECTORS’ REPORT FOR THE FINANCIAL
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GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18

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Form No. MGT-9
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I. REGISTRATION AND OTHER DETAILS

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040
GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18
DIRECTORS’ REPORT FOR THE FINANCIAL
YEAR ENDED MARCH 31, 2018

III. PARTICULARS OF HOLDING, SUBSIDIARY AND ASSOCIATE COMPANIES

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YMJ


TK
[TYNSL
WNLMYX
MJQI
G^
,TIWJO
5WTUJWYNJX
1NRNYJI
NS
YMJ

WJXUJHYN[J
115X

GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18

043
IV. SHARE HOLDING PATTERN (EQUITY SHARE CAPITAL BREAKUP AS PERCENTAGE OF TOTAL
EQUITY)
P *H[LNVY`^PZL:OHYL/VSKPUN

*H[LNVY`VMZOHYLOVSKLYZ 5VVM:OHYLZOLSKH[[OLILNPUUPUNVM[OL`LHY 5VVM:OHYLZOLSKH[[OLLUKVM[OL`LHY %

(April 01, 2017) (March 31, 2018) JOHUNL
Demat 7O`ZPJHS Total VM[V[HS Demat 7O`ZPJHS Total VM[V[HS K\YPUN
shares shares [OL`LHY

A. Promoters & Promoter

Group
0UKPHU
.SIN[NIZFQ-:+
 -    -   
(JSYWFQ
,T[Y

8YFYJ
,T[Y X
'TINJX
(TWU
 -    -   
'FSPX

+.

&S^
4YMJW
5WN[FYJ
9WZXYX - - - -  -   
:\I[V[HS( 162,087,070 - 162,087,070 74.91 161,484,842 - 161,484,842 74.59 (0.32)
-VYLPNU
F
37.X

.SIN[NIZFQX
- - - -  -   
b) Other – Individuals - - - - - - - - -
'TINJX
(TWU
- - - - - - - - -
'FSPX

+.
- - - - - - - - -
&S^
4YMJW - - - - - - - - -
:\I[V[HS( - - - - - - - - -
;V[HSZOHYLOVSKPUNVM 162,087,070 - 162,087,070 74.91 162,087,070 - 162,087,070 74.87 (0.04)
Promoter (A) = (A)(1)+(A)(2)
)7\ISPJ:OHYLOVSKPUN
1. Institutions
F
2ZYZFQ
+ZSIX
 -    -   
G
'FSPX

+.
 -    -   
H
(JSYWFQ
,T[Y - - - - - - - - -
I
8YFYJ
,T[Y X
- - - - - - - - -
J
;JSYZWJ
(FUNYFQ
+ZSIX - - - - - - - - -
f) Insurance Companies - - - - - - - - -
L
+..X
+5.X
    -   
M
+TWJNLS
;JSYZWJ
(FUNYFQ
- - - - - - - - -
Funds
N
4YMJWX

+TWJNLS
3FYNTSFQX - - - -  -   
:\I[V[HS) 25,392,209 25,392,209 11.74 24,607,346 - 24,607,346 11.37 (0.37)

044
GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18
DIRECTORS’ REPORT FOR THE FINANCIAL
YEAR ENDED MARCH 31, 2018

*H[LNVY`VMZOHYLOVSKLYZ 5VVM:OHYLZOLSKH[[OLILNPUUPUNVM[OL`LHY 5VVM:OHYLZOLSKH[[OLLUKVM[OL`LHY %

(April 01, 2017) (March 31, 2018) JOHUNL
Demat 7O`ZPJHS Total VM[V[HS Demat 7O`ZPJHS Total VM[V[HS K\YPUN
shares shares [OL`LHY

2. Non-Institutions
H)VKPLZ*VYW  -    -   
i) Indian - - - - - - - - -
ii) Overseas - - - - - - - - -
I0UKP]PK\HSZ
i) Individual shareholders         
holding nominal share capital
up to `

QFPM

ii) Individual shareholders  -    -   
holding nominal share capital
NS
J]HJXX
TK
`

QFPM
J6[OLYZZWLJPM`
3TS7JXNIJSY
.SIN[NIZFQX
    -   
3TS
7JUFYWNFYNTS
(QJFWNSL
2JRGJWX     - 



 
3'+(
7JLNXYJWJI
\NYM
7'.     -   
Employee Trusts - - - -  -   -
IEPF - - - -  -   -
:\I[V[HS) 28,839,195 28,885,413 13.35 29,746,837 - 29,785,862 13.76 0.41
;V[HS7\ISPJ:OHYLOVSKPUN 54,231,404 46,218 54,277,622 25.09 54,354,033 39,025 54,393,058 25.13 0.04
(B) = (B)(1)+(B)(2)
*:OHYLZOLSKI` - - - - - - - - -
*\Z[VKPHUMVY.+9Z 
ADRs
.YHUK;V[HS()* 216,318,474 46,218 216,364,692 100 216,441,103 39,025 216,480,128 100 -

GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18

045
PP :OHYLOVSKPUNVM7YVTV[LYZ!
Sl. :OHYLOVSKLYºZ5HTL :OHYLOVSKPUNH[[OLILNPUUPUNVM[OL :OHYLOVSKPUNH[[OLLUKVM[OL`LHY %
No. `LHY(WYPS (March 31, 2018) JOHUNL
5VVM VM[V[HS VM:OHYLZ 5VVM VM[V[HS VM:OHYLZ in share-
Shares Shares 7SLKNLK Shares Shares 7SLKNLK OVSKPUN
VM[OL LUJ\TILYLK VM[OL LUJ\TILYLK K\YPUN
*VTWHU` to total shares *VTWHU` to total shares [OL`LHY
 ,TIWJO
.SIZXYWNJX
1NRNYJI   -   -  
 ,TIWJO

'T^HJ
2FSZKFHYZWNSL
(T
1YI   -   -  
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2ZQYN[JSYZWJX
5WN[FYJ
1NRNYJI   -   -  
 *SXJRGQJ
-TQINSLX
FSI
+NSFSHJ
1YI   -   -  
 3FINW
'FWOTWON
,TIWJO


  -   - 
 7NXMFI
0FNPMZXMWZ
3FTWTON   -   - -
 7NXMFI
0FNPMZXMWZ
3FTWTON
  -   - -
FX
F
UFWYSJW
TK
703
*39*757.8*8
 +WJ^FS
'JWNJ
(WNXMSF   -   - 
 3F[WT_J
/FRXM^I
,TIWJO   -   - -
 /FRXM^I
3FTWTON
,TIWJO   -   - 
5MJWT_F
/FRXM^I
,TIWJO

3F[WT_J
/FRXM^I
,TIWJO

9WZXYJJX
TK
7FNPF
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+FRNQ^
9WZXY
 3^WNPF
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 9FS^F
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 3NXFGF
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 5NWTOXMF
&IN
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 9FS^F
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)ZGFXM
  -   - 
9WZXYJJ
TK
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9WZXY
 3NXFGF
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9WZXYJJ
TK
3,
+FRNQ^
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 5NWTOXMF
,TIWJO
9WZXYJJ
TK
5,
+FRNQ^
9WZXY   -   - 
 8RNYF
,TIWJO
0WNXMSF
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(WNXMSF
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  -   - 
FSI
3^WNPF
-TQPFW

9WZXYJJ
TK
+;(
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9WZXY
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0WNXMSF
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  -   - 
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9WZXYJJ
TK
3;(
+FRNQ^
9WZXY
 3FINW
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9WZXYJJ
TK
'3,
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9WZXY   -   - 
 3FINW
,TIWJO
9WZXYJJ
TK
83,
+FRNQ^
9WZXY   -   - 
 3FINW
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9WZXYJJ
TK
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9WZXY   -   - 
 7FNPF
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(MFSLJ
NS
UJWHJSYFLJ
TK
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NX
IZJ
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NSHWJFXJ
NS
5FNI
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(FUNYFQ
TK
YMJ
(TRUFS^

046
GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18
DIRECTORS’ REPORT FOR THE FINANCIAL
YEAR ENDED MARCH 31, 2018

PPP *OHUNLPU7YVTV[LYZº:OHYLOVSKPUNWSLHZLZWLJPM`PM[OLYLPZUVJOHUNL
Sl. Particulars :OHYLOVSKPUNH[[OLILNPUUPUNVM[OL`LHY(WYPS Cumulative
No. :OHYLOVSKPUN
K\YPUN[OL`LHY
(March 31, 2018)
5VVM VM[V[HS Date 0UJYLHZL Reason 5VVM VM[V[HS
Shares Shares KLJYLHZLPU Shares Shares
VM[OL ZOHYLOVSKPUN VM[OL
*VTWHU` *VTWHU`
 9FS^F
&W[NSI
)ZGFXM     Inter-se  
Transfer
&Y
YMJ
JSI
TK
YMJ
^JFW  
 3NXFGF
,TIWJO     Inter-se  
Transfer
&Y
YMJ
JSI
TK
YMJ
^JFW  
 5NWTOXMF
,TIWJO     Inter-se  
Transfer
&Y
YMJ
JSI
TK
YMJ
^JFW  
 9FS^F
&W[NSI
)ZGFXM
 -   Inter-se  
9WZXYJJ
TK
9&)
+FRNQ^
9WZXY Transfer
&Y
YMJ
JSI
TK
YMJ
^JFW  
 3NXFGF
,TIWJO
 -   Inter-se  
9WZXYJJ
TK
3,
+FRNQ^
9WZXY Transfer
&Y
YMJ
JSI
TK
YMJ
^JFW  
 5NWTOXMF
,TIWJO
 -   Inter-se  
(Trustee of PG Family Trust) Transfer
&Y
YMJ
JSI
TK
YMJ
^JFW  
 3FINW
,TIWJO     Inter-se  
Transfer
&Y
YMJ
JSI
TK
YMJ
^JFW  
 3FINW
,TIWJO
 -   Inter-se  
9WZXYJJ
TK
'3,
+FRNQ^
9WZXY Transfer
&Y
YMJ
JSI
TK
YMJ
^JFW  
9 3FINW
,TIWJO
 -   Inter-se  
9WZXYJJ
TK
83,
+FRNQ^
9WZXY Transfer
&Y
YMJ
JSI
TK
YMJ
^JFW  

GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18

047
Sl. Particulars :OHYLOVSKPUNH[[OLILNPUUPUNVM[OL`LHY(WYPS Cumulative
No. :OHYLOVSKPUN
K\YPUN[OL`LHY
(March 31, 2018)
5VVM VM[V[HS Date 0UJYLHZL Reason 5VVM VM[V[HS
Shares Shares KLJYLHZLPU Shares Shares
VM[OL ZOHYLOVSKPUN VM[OL
*VTWHU` *VTWHU`
 3FINW
,TIWJO
 -   Inter-se  
9WZXYJJ
TK
-3,
+FRNQ^
9WZXY Transfer
&Y
YMJ
JSI
TK
YMJ
^JFW  
 /FRXM^I
3FTWTON
,TIWJO
    Inter-se  
5MJWT_F
/FRXM^I
,TIWJO

Transfer
3F[WT_J
/FRXM^I
,TIWJO

9WZXYJJX
TK
7FNPF
,TIWJO

Family Trust)
&Y
YMJ
JSI
TK
YMJ
^JFW  
 7FNPF
,TIWJO  -   Inter-se  
Transfer
&Y
YMJ
JSI
TK
YMJ
^JFW  
 +WJ^FS
'NJWNJ
(WNXMSF     Inter-se  
Transfer
&Y
YMJ
JSI
TK
YMJ
^JFW  
 3^WNPF
-TQPFW     Inter-se  
Transfer
&Y
YMJ
JSI
TK
YMJ
^JFW  
 8RNYF
,TIWJO
0WNXMSF
 -   Inter-se  
+WJ^FS
(WNXMSF
'NJWNFSI
Transfer
3^WNPF
-TQPFW

9WZXYJJ
TK
+;(
+FRNQ^
9WZXY
&Y
YMJ
JSI
TK
YMJ
^JFW  
 8RNYF
,TIWJO
0WNXMSF
 -   Inter-se  
+WJ^FS
(WNXMSF
'NJWN
FSI
Transfer
3^WNPF
-TQPFW

9WZXYJJ
TK
3;(
+FRNQ^
9WZXY
&Y
YMJ
JSI
TK
YMJ
^JFW  

048
GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18
DIRECTORS’ REPORT FOR THE FINANCIAL
YEAR ENDED MARCH 31, 2018

P]:OHYLOVSKPUN7H[[LYUVM[VW[LU:OHYLOVSKLYZV[OLY[OHU+PYLJ[VYZ7YVTV[LYZHUK/VSKLYZVM.+9Z
HUK(+9Z
Sr. Name :OHYLOVSKPUN Date 0UJYLHZL Reason Cummulative
No. Decrease :OHYLOVSKPUN
in share - K\YPUN[OL`LHY
OVSKPUN [V
5VVM VM[V[HS 5VVM VM[V[HS
Shares shares Shares shares
at the VM[OL VM[OL
ILNPUUPUN JVTWHU` *VTWHU`

LUKVM
[OL`LHY

 1

9
2ZYZFQ
+ZSI
9WZXYJJ
1YI
  &UW

1

9
(FU
+ZSI

&UW  'TZLMY  
2F^  'TZLMY  
2F^  'TZLMY  
/ZS  'TZLMY  
/ZS  'TZLMY  
/ZS  'TZLMY  
/ZS  Sold  
/ZS  'TZLMY  
/ZS  'TZLMY  
/ZQ  'TZLMY  
/ZQ  'TZLMY  
/ZQ  'TZLMY  
&ZL  'TZLMY  
&ZL  'TZLMY  
&ZL  'TZLMY  
&ZL  'TZLMY  
8JU  'TZLMY  
8JU  'TZLMY  
4HY  'TZLMY  
4HY  'TZLMY  
4HY  'TZLMY  
4HY  'TZLMY  
3T[  'TZLMY  
3T[  'TZLMY  
3T[  'TZLMY  
)JH  'TZLMY  

GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18

049
Sr. Name :OHYLOVSKPUN Date 0UJYLHZL Reason Cummulative
No. Decrease :OHYLOVSKPUN
in share - K\YPUN[OL`LHY
OVSKPUN [V
5VVM VM[V[HS 5VVM VM[V[HS
Shares shares Shares shares
at the VM[OL VM[OL
ILNPUUPUN JVTWHU` *VTWHU`

LUKVM
[OL`LHY

)JH  Sold  
)JH  Sold  
/FS  Sold  
/FS  'TZLMY  
+JG  'TZLMY  
2FW  Sold  
2FW  Sold  
  2FW   
 (NSSFRTS
(FUNYFQ
1NRNYJI
   &UW
)JH  'TZLMY  
)JH  'TZLMY  
)JH  'TZLMY  
/FS  'TZLMY  
  2FW  
 Goldman Sachs India Fund   &UW
1NRNYJI
&UW  'TZLMY  
  2FW  
4 8'.
2FLSZR
2NIHFU
+ZSI
   &UW
/FS  'TZLMY  
+JG  'TZLMY  
2FW  'TZLMY  
2FW  'TZLMY  
2FW  'TZLMY  
  2FW  
5 Franklin Templeton Investment   &UW
Funds
/ZS  Sold  
/ZS  Sold  
/ZQ  Sold  

050
GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18
DIRECTORS’ REPORT FOR THE FINANCIAL
YEAR ENDED MARCH 31, 2018

Sr. Name :OHYLOVSKPUN Date 0UJYLHZL Reason Cummulative

No. Decrease :OHYLOVSKPUN
in share - K\YPUN[OL`LHY
OVSKPUN [V
5VVM VM[V[HS 5VVM VM[V[HS
Shares shares Shares shares
at the VM[OL VM[OL
ILNPUUPUN JVTWHU` *VTWHU`

LUKVM
[OL`LHY

/ZQ  Sold  
2FW  Sold  
  2FW  
 4]GT\
2FXYJW
+ZSI
1NRNYJI
   &UW
/ZS  'TZLMY  
/ZS  'TZLMY  
/ZQ  Sold  
/ZQ  'TZLMY  
&ZL  'TZLMY  
&ZL  'TZLMY  
)JH  Sold  
+JG  'TZLMY  
  2FW  
 (18&
,QTGFQ
2FWPJYX
5YJ
  &UW
1YI

&UW  'TZLMY  
&UW  'TZLMY  
8JU  'TZLMY  
8JU  'TZLMY  
4HY  'TZLMY  
4HY  'TZLMY  
2FW  'TZLMY  
  2FW  
 '35
5FWNGFX
&WGNYWFLJ
   &UW
8JU  'TZLMY  
4HY  'TZLMY  
4HY  'TZLMY  
4HY  'TZLMY  
3T[  'TZLMY  
+JG  'TZLMY  

GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18

051
Sr. Name :OHYLOVSKPUN Date 0UJYLHZL Reason Cummulative
No. Decrease :OHYLOVSKPUN
in share - K\YPUN[OL`LHY
OVSKPUN [V
5VVM VM[V[HS 5VVM VM[V[HS
Shares shares Shares shares
at the VM[OL VM[OL
ILNPUUPUN JVTWHU` *VTWHU`

LUKVM
[OL`LHY

2FW  'TZLMY  
2FW  'TZLMY  
  2FW  
9 8PFSINF
&XNJS
  &UW
/ZQ  Sold  
/ZQ  Sold  
8JU  Sold  
8JU  Sold  
8JU  Sold  
8JU  Sold  
3T[  'TZLMY  
3T[  Sold  
3T[  Sold  
3T[  'TZLMY  
)JH  'TZLMY  
)JH  'TZLMY  
)JH  'TZLMY  
/FS  'TZLMY  
+JG  'TZLMY  
+JG  Sold  
+JG  Sold  
2FW  Sold  
  2FW  
 2FSNXM
/FNS
   &UW
/FS  'TZLMY  
/FS  'TZLMY  
+JG  'TZLMY  
  2FW  

3TY
NS
YMJ
1NXY
TK
9TU

8MFWJMTQIJWX
FX
TS

9MJ
XFRJ
MFX
GJJS
WJÂJHYJI
FGT[J
XNSHJ
YMJ
XMFWJMTQIJW
\FX
TSJ

TK
YMJ
9TU

XMFWJMTQIJWX
FX
TS


052
GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18
DIRECTORS’ REPORT FOR THE FINANCIAL
YEAR ENDED MARCH 31, 2018

] :OHYLOVSKPUNVM+PYLJ[VYZHUK2L`4HUHNLYPHS7LYZVUULS!

Sl. -VYLHJOVM[OLKPYLJ[VYZHUK247 :OHYLOVSKPUNH[[OLILNPUUPUN *\T\SH[P]L:OHYLOVSKPUN

No. VM[OL`LHY K\YPUN[OL`LHY
(April 01, 2017) (March 31, 2018)
5VVM:OHYLZ VM[V[HS 5VVM VM[V[HS
:OHYLZVM[OL Shares :OHYLZVM[OL
*VTWHU` *VTWHU`
1. 4Y7PYVQZOH.VKYLQµ,_LJ\[P]L*OHPYTHU
&Y
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TS

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2. 4Y1HTZO`K5.VKYLQ5VU,_LJ\[P]L+PYLJ[VY
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6. 4YZ3HSP[H+.\W[Lµ0UKLWLUKLU[+PYLJ[VY
&Y
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GJLNSSNSL
TK
YMJ
^JFW  

GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18

053
Sl. -VYLHJOVM[OLKPYLJ[VYZHUK247 :OHYLOVSKPUNH[[OLILNPUUPUN *\T\SH[P]L:OHYLOVSKPUN
No. VM[OL`LHY K\YPUN[OL`LHY
(April 01, 2017) (March 31, 2018)
5VVM:OHYLZ VM[V[HS 5VVM VM[V[HS
:OHYLZVM[OL Shares :OHYLZVM[OL
*VTWHU` *VTWHU`
)FYJ
\NXJ
NSHWJFXJ

IJHWJFXJ
NS
XMFWJMTQINSL
IZWNSL
3T
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^JFW
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NSHWJFXJ

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054
GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18
DIRECTORS’ REPORT FOR THE FINANCIAL
YEAR ENDED MARCH 31, 2018

Sl. -VYLHJOVM[OLKPYLJ[VYZHUK247 :OHYLOVSKPUNH[[OLILNPUUPUN *\T\SH[P]L:OHYLOVSKPUN

No. VM[OL`LHY K\YPUN[OL`LHY
(April 01, 2017) (March 31, 2018)
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GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18

055
V. INDEBTEDNESS :
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` in crore
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VI. REMUNERATION OF DIRECTORS AND KEY MANAGERIAL PERSONNEL

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056
GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18
DIRECTORS’ REPORT FOR THE FINANCIAL
YEAR ENDED MARCH 31, 2018

B. REMUNERATION TO OTHER DIRECTORS:

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Sr 7HY[PJ\SHYZVM 5HTLVM+PYLJ[VY Total Amt
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meetings
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GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18

057
=007,5(3;0,:7<50:/4,5;*6476<5+05.6-6--,5*,:!56;(7730*()3,
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Companies Act Description HS[` B9+5*3; PMHU`
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A. COMPANY
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B. DIRECTORS
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C. OTHER OFFICERS IN DEFAULT
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058
GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18
DIRECTORS’ REPORT FOR THE FINANCIAL
YEAR ENDED MARCH 31, 2018

&33*=:7*
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NOMINATION & REMUNERATION POLICY DEFINITIONS
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GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18

059
PART – A
541.(>
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REMOVAL
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GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18

069
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GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18
DIRECTORS’ REPORT FOR THE FINANCIAL
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AS PER THE DISCLOSURE REQUIREMENT SPECIFIED UNDER SEBI (SHARE BASED EMPLOYEE BENEFITS)
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DIRECTORS’ REPORT FOR THE FINANCIAL
YEAR ENDED MARCH 31, 2018

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074
GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18
REPORT ON CORPORATE
GOVERNANCE

REPORT ON CORPORATE
GOVERNANCE
Company’s Philosophy on Code of Governance UWTKJXXNTSX
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organization’s wealth generating capacity. This is ensured by
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Mr. Nadir B. Godrej 
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Dr. Pritam Singh 

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shareholder value without compromising on Ethical Standards
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THE GOVERNANCE STRUCTURE
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GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18

075
;HISL!;OLKL[HPSZVMTLL[PUNZVM[OL)VHYKOLSKK\YPUN[OLÂUHUJPHS`LHYHYLHZ\UKLY!

Sr. Date on which Board Meeting Total strength of the Board No. of Directors present at the Board
No. was held on the date of Meeting Meeting
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Sr. Name of Director Category Number Number Whether Directorships Number of Chairmanships/
No. of Board of Board attended held in Memberships in Board
Meetings Meetings last AGM companies Committees as
held attended (held on incorporated H[4HYJO
during the during (\N\Z[ in India as (Including GPL)
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1. Mr. Jamshyd N. 3TS*]JHZYN[J
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9. Dr. Pritam Singh Independent 4  No   1 
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Notes :-
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the Company and the Board as a whole.

076
GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18
REPORT ON CORPORATE
GOVERNANCE

;HISL!5\TILYVMLX\P[`ZOHYLZOLSKI`LHJOVM[OL+PYLJ[VYZVW[PVUZOLSKHUKKP]PKLUKWHPK

Name of Director Equity Shares held Dividend paid during the Number of options held under
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 (in `)

Mr. Nadir B. Godrej 1 - -

Mr. Jamshyd N. Godrej  - -

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Family Trust)

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*Mr. S. Narayan - - -

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Mr. Pirojsha Godrej  - -

Mr. Mohit Malhotra  - #



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is related to any other Director on the Board:
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e) Familiarisation
d) Independent Directors

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The Company has issued a formal letter of appointment
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in the Act and SEBI LODR Regulations. The terms and
conditions of appointment have also been displayed
on the website of the Company at MYYUX\\\
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Program for Independent
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aims to provide insights into the Company to enable
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and functionaries of the Company and to assist them in
performing their role as Independent Directors of the
Company. The Company’s Policy of conducting the
Familiarisation Program has been disclosed on the website

GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18

077
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A. AUDIT COMMITTEE and effective implementation of the Insider Trading Code.
The composition of the Audit Committee of the Company is in
The Audit Committee of the Company performs the following
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credible.
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Sr. Name of Director No. of No. of services rendered by the statutory auditors.
No. meetings meetings

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078
GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18
REPORT ON CORPORATE
GOVERNANCE


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statutory and internal auditors and adequacy of the the Chief Internal Auditor shall be subject to review by the
internal control systems. Audit Committee.

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internal auditors into matters where there is suspected B. NOMINATION & REMUNERATION COMMITTEE
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of a material nature and reporting the matter to the board.
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scheme of the Company i.e. the Godrej Properties Limited

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GJQT\

GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18

079
Table 5: Composition and attendance record of C. CORPORATE SOCIAL RESPONSIBILITY
Nomination & Remuneration Committee members COMMITTEE

Sr. Name of Director No. of No. of
No. meetings meetings
held during attended
[OLÂUHU- during the
cial year ÂUHUJPHS
ended year ended
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1 Mrs. Lalita D. Gupte  
(Chairperson)
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 Mr. Amit B. Choudhury  
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The Corporate Social Responsibility (CSR) Committee of the
Board of Directors of the Company consist of the following
members:

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quorum was present for all the meetings.

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of the Company acts as the Secretary of the Corporate Social
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The CSR Policy of the Company has been put up on the
*Ceased to be a Director from the Board of the Company
website of the Company at MYYUX\\\LTIWJOUWTUJWYNJX
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positive attributes and independence of a director and
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be incurred on the activities as per the Corporate Social

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and who may be appointed in senior management in
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of the impact of the Company’s Corporate Social
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Please refer to the Director’s report for Performance including the SEBI LODR Regulations and the Companies
Evaluation Criteria for the independent directors. &HY


080
GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18
REPORT ON CORPORATE
GOVERNANCE

D. ALLOTMENT COMMITTEE The said Policy outlines the appointment criteria and
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The Allotment Committee has been formed to complete the of Godrej Properties Limited and the matters related to
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regulatory authorities. The Committee comprises the following Director’s Report included in this Annual Report.
directors as its members:
The Company paid sitting fees of `

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(Twenty Thousand only) for every meeting of the Corporate
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3) REMUNERATION OF DIRECTORS includes the annual increments and performance bonus) in
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(`
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Name of Director Relationship with Sitting Commission* Salary Perquisites Provident Others** Total
other Directors Fees Fund
Mr. Jamshyd N. Godrej -   Nil Nil Nil Nil 
Mr. Nadir B. Godrej -   Nil Nil Nil Nil 
Mr. Amit B. Choudhury -   Nil Nil Nil Nil 
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Mrs. Lalita D. Gupte -   Nil Nil Nil Nil 
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#
Mr. S. Narayan -  - Nil Nil Nil Nil 
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Dr. Pritam Singh -   Nil Nil Nil Nil 
Mr. Pirojsha Godrej Nephew of Nil Nil     
Mr. Jambhyd N.
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Mr. Nadir B. Godrej
Mr. Mohit Malhotra - Nil Nil     
Notes:
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also paid under reverse charge mechanism by the Company.

GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18

081
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pecuniary relationship or transaction with the Company. The
Company enters into transactions in the ordinary course of
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directorship. Attention of the Members is drawn to the
disclosures of transactions with related parties set out in Notes
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forming part of the Annual Report.
4) STAKEHOLDERS’ RELATIONSHIP COMMITTEE
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consists of the following members:

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of the grievances of Security holders viz. shareholders’
082
GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18
3()
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other securities-holders related matters. It is also responsible
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Committee is also responsible for approval of transfer and
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same to the Registrar and Transfer Agents.
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REPORT ON CORPORATE
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5) GENERAL BODY MEETINGS

a) Details of previous three General Meetings of the Company are as under:

Financial Venue Date Time

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Date of AGM Number Details of Special Resolutions Passed

of Special
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passed
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Plan (GPL ESOP).

GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18

083
6) MEANS OF COMMUNICATION
Name of Stock Address Stock/Scrip
All vital information relating to the Company and its Exchange code
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of India Limited. The quarterly and annual results of the 8YTHP
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The ISIN No. of the Company’s equity shares on both
information are circulated to the members and others entitled National Securities Depository Limited and Central
thereto. Depository Services (India) Limited is 05,1.
 .,5,9(3:/(9,/63+,9:º05-694(;065 The CIN of the Company is34/ 73*.
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a) Annual General Meeting the Company to BSE and NSE.

Date 9MZWXIF^
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Time 
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(`) (`) (No. of equity
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 : First Quarter
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 : Second Quarter
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August   
c) Dividend Payment Date September   
The Board has not recommended any dividend for the October   
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d) Listing information December   
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February   
Non-Convertible Debentures (NCD’s) of the company are March   
listed on BSE Limited.

084
GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18
REPORT ON CORPORATE
GOVERNANCE

;HISL ! 4VU[OS` OPNO  SV^ WYPJLZ HUK ]VS\TLZ VM f) Share Transfer Agent
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`LHYLUKLK4HYJO! Karvy Computershare Private Limited
(Unit: Godrej Properties Limited)
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August   
Contact Person: Mr. K. S. Reddy
September   
October    g) Share transfer system
November    The Company has outsourced its share transfer function for
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Note
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required documentation is submitted.
share derived from the closing prices. Volume is the total
monthly volume of trade (in numbers) in equity shares of the
Company on BSE and NSE.
The Company’s equity share performance compared to BSE Sensex & BSE Realty Index is as under:

350

300

250

200

150

100

50

0
Mar-17 May-17 Jun-17 Aug-17 Sep-17 Nov-17 Dec-17 Feb-18 Mar-18

GPL Sensex BSE Realty

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GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18

085
O+PZ[YPI\[PVUVMZOHYLOVSKPUNHZVU4HYJO

Sr. Category No. of Share Holders % of Share Holders No. of equity shares Amount (`)
No.
1 
³
    
 
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Total     

P :OHYLOVSKPUNWH[[LYUHZVU4HYJO j) Shares held in physical and dematerialized

form
i) Distribution of equity shareholding :

Sr. Category No. of No. of equity % of Category Number of Shareholders Number of Shareholding
No. Share shares held share- shareholders % equity shares %
Holders holding held

1 Promoters    Physical    

 Mutual Funds   
NSDL    
 'FSPX   
CDSL    
4 Foreign Institutional   
Investors Total     
 Other Bodies   
Corporate
Break up of physical and dematerialized shares as
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(Public)
6.42
 Non-Resident 1119  
Indians
 Others   
Total    
ii) Categories of equity shareholders :

0.45
11.29 0.05 Promoters
Mutual Funds
1.97
Banks 93.56
8.88 Foreign Institutional Investors

0.03
Other Bodies Corporate k) O u t s t a n d i n g G D R s / A D R s / w a r r a n t s /
Resident Individuals (Public)
2.46 convertible instruments and their impact on
Non-Resident Indians
equity
Others
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74.87 warrants or convertible instruments.

086
GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18
REPORT ON CORPORATE
GOVERNANCE
l) Address for Correspondence
Investor correspondence should be addressed to:
For Equity Shares:-
Karvy Computershare Private Limited
(Unit: Godrej Properties Limited)
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Contact Person: Mr. K. S. Reddy
For Non-Convertible Debenture (NCD’s)
Link Intime India Private Limited
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and SEBI LODR Regulations were in the ordinary course
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at large. Attention of Members is drawn to the disclosures
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of SEBI LODR Regulations. This Policy establishes a
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of the Company’s Code of Conduct. The said mechanism
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victimisation of persons who use such mechanism and
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Audit Committee.

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corporategovernance.
e) Policy to prevent sexual harassment at the work-
place
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intimidation. Every employee is made aware that the
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the rules made thereunder. Ms. Tanya Dubash is the
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GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18
087
 Ms. Nisaba Godrej acts as a representative of Godrej Documents which has been put up on the website of the
Group along with other Committee members viz Company at MYYUX\\\LTIWJOUWTUJWYNJXHTRNS[JXYTW
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hedging activities are covered in Management Discussion
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and Analysis Report.
and the same was investigated in accordance with the
procedure laid down under the said Act and the same h) Dividend Distribution Policy
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were reported during the period. has formulated a Policy for dividend distribution which
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corporategovernance.
The Company has also adopted Policy on Determination
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i) Details of Demat Suspense Account

As per Schedule V of Part F of SEBI LODR Regulations the Company reports the following details in respect of equity
shares lying in the suspense account which were issued pursuant to the public issue.

Sr. Particulars No. of Cases No. of Equity

No. MVY[OL-PUHUJPHS@LHY Shares
1. Aggregate number of shareholders and the outstanding equity shares in the 1 
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*The voting rights on the equity shares shall be frozen till the rightful owner claims such shares.

j) Transfer of Unclaimed/Unpaid Dividend

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of the Company MYYUX\\\LTIWJOUWTUJWYNJXHTRNS[JXYTWHTSYFHYX.

088
GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18
REPORT ON CORPORATE
GOVERNANCE

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(date of last AGM) on the Company’s website MYYUX\\\LTIWJOUWTUJWYNJXHTRNS[JXYTWZSHQFNRJIZSUFNIFRTZSYX and
on the website of the Ministry of Corporate Affairs at www.iepf.gov.in.

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I. Disclosure on website in terms of listing regulations

Item Compliance Status

(Yes/No/NA) refer note
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Compositions of various committees of board of directors Yes
Code of conduct of board of directors and senior management personnel Yes
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assisting and handling investor grievances

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Financial results Yes
Shareholding pattern Yes
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GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18

089
00(UU\HS(MÂYTH[PVUZ

Particulars Regulation Number Compliance status (Yes/

No/NA) refer note below
Composition of Audit Committee   Yes
Meeting of Audit Committee   Yes
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subsidiary of listed entity
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shares in physical form and the total number of shares in dematerialised form.

+0:*9,;065(9@+0:*36:<9,:
The status of compliance with non-mandatory recommendations of the SEBI LODR Regulaions is as follows.
a) Shareholders’ Rights:
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c) Separate posts of Chairman and CEO: The positions of the Chairman and the CEO in the Company are separate.
d) Reporting of Internal Auditor: The Internal Auditors of the Company directly report to the Audit Committee.

090
GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18
REPORT ON CORPORATE
GOVERNANCE

Declaration by Managing Director & CEO

.
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The Board of Godrej Properties Limited has laid down a Code of Conduct for all Board members and senior management of
the Company. The said code of conduct has also been posted on the Company’s website viz. www.godrejproperties.com. All
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Mohit Malhotra
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Place: Mumbai
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CERTIFICATE ON CORPORATE GOVERNANCE

To The Members of
Godrej Properties Limited

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was limited to procedures and implementation thereof adopted by the Company for ensuring compliance with conditions of
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Regulations.

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effectiveness with which the management has conducted the affairs of the Company.

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purpose.

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Company Secretaries
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Dipti Mehta
Partner
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Place: Mumbai
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GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18

091
BUSINESS RESPONSIBILITY
REPORT
PHILANTHROPIC EFFORTS OF THE GODREJ
GROUP
The Godrej Group has been at the forefront of philanthropic and
social activities for several decades. Approximately Twenty-
Three per cent of the promoter holding of the Godrej Group
is held in trusts that invests back in initiatives that support the
environment as well as improve the quality and availability of
healthcare and education. Through investment and oversight
by the trust, a large tract of mangrove forests in Mumbai have
been protected, developed, and maintained for several years
and serve as a second set of lungs for the city. The Godrej
Group has continually supported education and supports the
Udayachal pre-primary and primary schools, which focus on
the all-round development of children. The Udayachal high
school has been accredited with the International School
Award in recognition of the school incorporating global
education into its curriculum and innovation into classroom
teaching.
In addition, the Godrej Group has supported initiatives in
healthcare through the Godrej Memorial Hospital, which aims
to provide quality healthcare at affordable costs. One such
initiative is our partnership with ‘Smile Train’, a US-based
NGO, which helps in performing corrective cleft lip and palate
surgeries for children from low-income families. The Group
offers surgery and hospitalization to the patients free of cost.
Workplace Giving
In 2016, the Group revived its Workplace Giving programme,
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with three organisations, namely Save the Children India,
World Wildlife Fund and Teach for India. These organisations
have been selected after thorough research, considering the
vast scope of their efforts towards improving education for
underprivileged children, creating access to health facilities in
rural areas and protecting the environment. The programme is
a part of the Group’s tradition of philanthropy and it enables
our team members to make a direct difference to someone’s
life.
Teach For India
Since its inception in 2009, GPL has been supporting Teach
for India, which is a nationwide movement of outstanding
college graduates and young professionals who will commit
2 years to teach full-time in under-resourced schools and
092
GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18
who will become lifelong leaders working from within various
sectors towards the pursuit of equity in education. In 2009,
Teach for India began its journey in the classrooms with
78 Fellows (or teachers) in 2 cities across 34 schools and
reached out to 3,000 children. The movement has grown in
2017-18 to cover 353 schools in 7 cities with approximately
1,100 fellows, positively impacting nearly 39,500 children.
GODREJ GOOD & GREEN
In conjunction with our vision of ‘Brighter Living’ for all
stakeholders, we have developed a long-term vision for
playing an active part in creating a more inclusive and
greener India. This vision has been named ‘Godrej Good
& Green’, which is founded on shared value initiatives. The
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practices that enhance the competitiveness of a company
while simultaneously advancing the economic and social
conditions in the communities in which it operates. As part of
this initiative, the Group aspires to create a more employable
Indian workforce, a greener India and innovate for good and
green products by 2020.
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vision are as follows:
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employment
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energy consumption and increasing the proportion of
renewable energy resources
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products that are environmentally superior or address a
critical social issue (e.g. health, sanitation and disease
prevention) for consumers at the bottom of the income
pyramid.
We have a comprehensive CSR policy (http://www.godrej.
com/policies.html) that outlines programmes and projects we
undertake to create a positive impact on our stakeholders.
We have a CSR committee in place to review, monitor and
provide strategic inputs for our sustainability efforts.
Over the years, we have aligned our sustainability efforts with
national priorities and the needs of our local communities
BUSINESS RESPONSIBILITY
REPORT

to deliver high-impact programmes that are easy to scale organisation’s with which they work.
up. Our skill-building initiatives are linked to the National
Skill Development Mission. Furthermore, our community SECTION A: GENERAL INFORMATION ABOUT
development initiatives in areas surrounding our construction THE COMPANY
sites are focused on improving the teaching–learning 1. Corporate Identity Number (CIN) of the Company:
environment.
L74120MH1985PLC035308
We are associated with the Integrated Water Management
Programme, under the Ministry of Rural Development, 2. Name of the Company:
through our large-scale integrated watershed projects in Godrej Properties Limited
drought-prone regions to restore the ecological balance by
3. Registered address:
harnessing, conserving and developing degraded natural
resources and thus providing sustainable livelihoods in the Godrej One, 5th Floor, Pirojshanagar, Eastern Express
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region.
4. Website:
In line with the Swachh Bharat Mission, we have initiated
several community waste management projects across India www.godrejproperties.com
by involving colleges, local municipalities and societies in
5. E-mail id:
different parts of the city.
secretarial@godrejproperties.com
In addition, we run an intensive community awareness and
behavior change programme to combat malaria in regions 6. Financial Year reported:
that are reported to have a high Annual Parasitic Index (API) 2017-18
through our Elimination of Mosquito Borne Endemic Diseases
7. Sector(s) that the Company is engaged in (industrial
(EMBED) programme. The mainstay of this programme is
activity code-wise):
propagating clean surroundings.

We are supporting renewable energy projects in rural India to Sl. Name and Description of NIC Code
address the shortage of energy supply in line with the Deen No. main products / services of the
Dayal Upadhyaya Gram Jyoti Yojana of the Government of Product/
India. service

Our community projects are supplemented by Brighter 1. Construction and Real Estate 4100
Giving, a structured volunteering platform through which our Development
team members can offer their time and skills to help address 8. List three key products/services that the Company
an NGO’s needs. Through Brighter Giving, Godrejites can manufactures/provides (as in balance sheet):
volunteer their time, knowledge and skills to help address
Development of residential and commercial projects.
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basis. 9. Total number of locations where business activity is
undertaken by the Company:
Brighter Giving also serves as a channel through which our
team members can connect with and learn more about Good (a) Number of International Locations (Provide
& Green. The programme has a long-term goal, seeking to details of major 5):
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(b) Number of National Locations:
this by using their professional skills and expertise to develop
relevant,implementable, and sustainable solutions for the The company has business activity in over 12
domestic locations.

93
GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18
10. Markets served by the Company – Local/State/ SECTION C: OTHER DETAILS
National/International:
1. Does the Company have any Subsidiary Company/
National. Companies?

Yes, the Company has 16 subsidiaries as on March 31,

SECTION B: FINANCIAL DETAILS OF THE
2018.
COMPANY
2. Do the Subsidiary Company/Companies participate
1. Paid up Capital (INR)
in the Business Responsibility (BR) Initiatives of the
` 108.24 crore. parent company? If yes, then indicate the number of
2. Total Turnover (INR): ` 1449.44 crores such subsidiary company(s):

 ;V[HSWYVÂ[HM[LY[H_LZ059!` 240.85 crores GPL encourages subsidiaries to participate in

Business Responsibility (BR) initiatives. The Business
4. Total Spending on Corporate Social Responsibility Responsibility policies of the subsidiaries are in line with
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The Company has spent prescribed CSR expenditure 3.
amounting to ` 1.38 crore, being the 2% of the average
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mandated in the Companies Act, 2013.
the local requirements.
Do any other entity/entities (e.g. suppliers,
distributors etc.) that the Company does business
with, participate in the BR initiatives of the
Company? If yes, then indicate the percentage of
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been incurred:- [OHUD

The expenditure has been incurred, inter-alia, in the No.

following areas -
SECTION D: BR INFORMATION
(a) Nipun skill enhancement training.
1. Details of Director/Directors responsible for BR
(b) Disaster relief-Sustainable Environment & Ecological
Development Society (SEEDS). (a) Details of the Director/Directors responsible
for implementation of the BR policy/policies
(c) Donation towards Wildlife Conservation.
1. DIN Number
(d) Integrated Watershed Management project.
2. Name
(e) Organic soil carbon- improvement in soil quality.
3. Designation
(f) Neighbourhood waste management project.
No director has yet been nominated.
(g) Waste to fuel project. (b) Details of the BR head

No director has yet been nominated as BR Head.

The Board constituted a Corporate Social
Responsibility (CSR) Committee comprising
Mr. Pirojsha Godrej, Mr. Mohit Malhotra and Mr. Amit
Choudhury as members. Mr. Anubhav Gupta and
Ms. Ruhi Pande are steering the social responsibility
initiatives.

94
GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18
BUSINESS RESPONSIBILITY
REPORT

2. Principle-wise (as per NVGs) BR Policy/policies

(a) Details of compliance (Reply in Y/N)

No. Questions P1 P2 P3 P4 P5 P6 P7 P8 P9

Customer Responsibility
Equitable Development
Employees’ well-being

Stakeholders’ Welfare

Regulatory Policy
Business Ethics

Human Rights
Sustainability

Environment
1 Do you have a policy/ policies for.... Y Y Y Y Y Y Y Y Y

2 Has the policy being formulated in The Company has formulated the policies and adopted
consultation with the relevant stakeholders? best practices in its own volition. However, while
formulating the policies and adopting the same, the
Company has been sensitive to the stakeholders interest.

3 Does the policy conform to any national / The company policies are aligned with Godrej Group
international standards? If yes, specify? policies incorporating the global best practices.

4 Has the policy being approved by the Board? Since all the policies are not required to be approved by
the Board, the approval of the Board has been obtained
Is yes, has it been signed by MD/ owner/
where it is mandatory.
CEO/ appropriate Board Director?

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oversee the implementation of the policy?

6 Indicate the link for the policy to be viewed h t t p : / / w w w. g o d r e j p r o p e r t i e s . c o m / i n v e s t o r /

online? corporategovernance (for Code of Conduct; Whistle
Blower Policy; Corporate Social Responsibility Policy;
Related Party Transactions Policy; Material Subsidiary
Policy; Policy on determining materiality of event.)

7 Has the policy been formally communicated Internal stakeholders are made aware of the policies.
[V HSS YLSL]HU[ PU[LYUHS HUK L_[LYUHS External stakeholders are communicated to the extent
stakeholders? applicable.

8 Does the company have in-house structure Y Y Y Y Y Y Y Y Y

to implement the policy/ policies?

9 Does the Company have a grievance Y Y Y Y Y Y Y Y Y

redressal mechanism related to the policy/
policies to address stakeholders’ grievances
related to the policy/ policies?

10 Has the company carried out independent Y Y Y Y Y Y Y Y Y

audit/ evaluation of the working of this policy
I`HUPU[LYUHSVYL_[LYUHSHNLUJ`&

95
GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18
I 0MHUZ^LY[V[OLX\LZ[PVUH[ZLYPHSU\TILYHNHPUZ[HU`WYPUJPWSLPZ¹5VºWSLHZLL_WSHPU^O`!;PJR\W[V
options)
Not Applicable.

No. Questions P1 P2 P3 P4 P5 P6 P7 P8 P9
1 The company has not understood the Principles
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position to formulate and implement the policies on
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resources available for the task
4 It is planned to be done within next 6 months
5 It is planned to be done within the next 1 year
6 Any other reason (please specify)

3. Governance related to BR 2. How many stakeholder complaints have been

(a) Indicate the frequency with which the Board of
Directors, Committee of the Board or CEO to
assess the BR performance of the Company.
Within 3 months, 3-6 months, Annually, More
than 1 year:
The Board of Directors of the company assesses
various initiatives forming part of the BR
performance of the company at least once a year.
(b) Does the Company publish a BR or a
Sustainability Report? What is the hyperlink
for viewing this report? How frequently it is
published?
The Company publishes the information on BR in
the Annual Report of the Company. The hyperlink to
view the Annual Report is: www.godrejproperties.com
SECTION E: PRINCIPLE-WISE PERFORMANCE
Principle 1 : Businesses should conduct and
govern themselves with ethics, transparency and
accountability
1. Does the policy relating to ethics, bribery and
corruption cover only the company? Yes/No.
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Suppliers/Contractors /NGOs/ Others?
The code applies to every employee of the company and
the endeavor is to extend this code to all its suppliers,
contractors and business partners.
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percentage was satisfactorily resolved by the
management? If so, provide details thereof, in about
50 words or so.
During the year no complaints were received from any of
the stakeholders.
Principle 2 : Businesses should provide goods
and services that are safe and contribute to
sustainability throughout their life cycle
Godrej Group’s Good & Green vision supports the
development of products that are environmentally sustainable.
As part of the vision, the Company aspires to develop products
that consumes fewer resources (energy and water), emit
fewer greenhouse gases and include recyclables, renewables
and/or natural materials.
1. List up to 3 of your products or services whose
design has incorporated social or environmental
concerns, risks and/or opportunities.
(a) Residential
(b) Commercial
(c) Townships
2. For each such product, provide the following details
in respect of resource use (energy, water, raw
material etc.) per unit of product (optional):
(a) Reduction during sourcing/production/
distribution achieved since the previous year
throughout the value chain?

96
GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18
BUSINESS RESPONSIBILITY
REPORT
We ensure that the majority of the materials used
across all our projects are sourced locally within
range of 400-500 kms from project site. Along with
the local sourcing, 95% of our construction waste is
reused or send to recycling agencies ensuring we
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(b) Reduction during usage by consumers (energy,
water) has been achieved since the previous
year?


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Harvesting and Sewage Treatment Plants used in
our projects we are able to achieve water Savings of
around 25-30% as compared to the baselines (IGBC
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and equipment along with usage of Renewable
energy in our projects across the portfolio, we are
able to achieve Energy Savings to the tune of 12-
15% in comparison to the baseline (ASHRAE).
3. Does the Company have procedures in place for
sustainable sourcing (including transportation)?
Below mentioned strategies have been used across the
projects for ensuring sustainable sourcing:

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locally within a distance of 400km

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the wood is sourced responsibly

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to avoid stress on virgin materials
4. Has the Company taken any steps to procure goods
and services from local & small producers, including
communities surrounding their place of work?
(a) If yes, what steps have been taken to improve
their capacity and capability of local and small
vendors?
- Local vendors are preferred for raw materials
and equipment needed during the construction
- Selection is done based on quality, and
preference is given to the local vendors
5. Does the Company have a mechanism to recycle

products and waste? If yes, what is the percentage
of recycling of products and waste (separately as
- Construction waste segregated based on their
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purpose
- Construction waste not being reused on site is sent
for recycling by appropriate agencies
- Treating >10% of organic waste during operation
(100% Organic Waste treated on site)
Principle 3 : Businesses should promote the
wellbeing of all employees
Code of Conduct:
GPL focuses on ensuring the well-being of all our team
members. The safety and health of our team members is
extremely important to us and we are committed to building
and maintaining a safe and healthy workplace. Ensuring
diversity, zero discrimination, safety, health and other
attributes essential to a healthy and good working
environment are part of our Code of Conduct. All employees
who join GPL demonstrate their commitment to follow the
Code of Ethics by signing in their acceptance to adhere to the
same. The Code of Conduct is also available on the internal
employee portal. Examples of a few of the principles of this
code of conduct are listed below:
Diversity, Anti-discrimination and Equal
Opportunities Policy:
We recognize merit and perseverance and encourage
diversity in the company. We do not tolerate any form
of discrimination on the basis of nationality, race, colour,
religion, caste, gender, gender identity or expression,
sexual orientation, disability, age, or marital status and
will allow for equal opportunities for all the team members.
We value diversity within the Godrej Group and
are committed to offering equal opportunities in
employment. We do not discriminate against any team
member or applicant for employment. Godrej Industries
Limited and Associate Companies also subscribes to the
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Ms. Nisaba Godrej serves as the Diversity Ombudsman
for the team members and seeks to resolve any
complaints or queries which are raised in relation to this.
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forming part of talent pool being assessed for any role,
merit being the sole criterion for selection. We are driving
#%(SZVWYV]PKLKL[HPSZ[OLYLVMPU our efforts to make all our workplaces and functions
about 50 words or so conducive for women.

97
GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18
) 7YL]LU[PVUVMZL_\HSOHYHZZTLU[!
We are committed to creating and maintaining an
atmosphere in which our team members can work
together, without fear of sexual harassment, exploitation
or intimidation. We have ensured compliance with the
Sexual Harassment of Women at Workplace (Prevention,
Prohibition and Redressal) Act, 2013 (the “Act”). We
have constituted an Internal Complaints Committee in
accordance with the Act and updated the group’s policy
to ensure that women are protected against sexual
harassment at the workplace. Every team member is
made aware that the Godrej Group is strongly opposed to
sexual harassment and that such behaviour is prohibited
both by law and the Group policy. We take all necessary
action(s) required to prevent and correct behaviour that
violates this policy.
C. Safety and Health:
We remain committed to protecting and building a safe
and healthy workplace.
GPL is committed to building and maintaining a safe
and healthy workplace and provides a safe and healthy
working environment, equipment and systems of work for
all team members. The company provides the information,
training and supervision needed for this purpose.
Furthermore, we are committed to the health and well-
being of our team members and have an onsite medical
centre, hospital and children’s day care facility within the
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Womens Area
A women’s area has been designed for Godrej group
women employees as a resting and nursing space
especially for expecting mothers, new mothers and
women with special needs. However, other women may
also use this space if needed.
Some of the facilities provided are:
1. Three resting rooms with mini fridge inside
2. Lounge seating with magazines and newspapers
3. Tea/Coffee station available throughout the day
during operational hours
4. First aid and essential medicines
98
GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18
Progressive Human Resource Policies:
GPL prides itself as a great place to work, a fact
recognised and acknowledged externally as well.
-7
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arrangements, part-time work, to name a few, go a long
way in ensuring that our team members successfully
strike a work-life balance.
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We are one of the leading companies in India to provide
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months, from the date one resumes work. We also have
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B. Late Night Cab Facility and Ola for Business:
The safety and well-being of all Godrejites is something
we care deeply about. We have a late night cab facility
for our Mumbai based team members for their safe travel
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The Company further provides Ola for Business service,
which can be availed by employees travelling for
Company related work.
C. Careers 2.0 Programme:
A recent initiative from the Godrej Group is the Career
2.0 programme, which provides a transition platform for
women professionals who have taken a career break but
now wish to return to work. The objective of this initiative
is to tap the leaking talent pipeline of high potential
BUSINESS RESPONSIBILITY
REPORT

performers & facilitate their re-entry into the corporate 8. What percentage of your under mentioned
world. The participants are offered attractive project employees were given safety & skill up-
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gradation training in the last year?
time basis.


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D. Sustenance Allowance Policy:

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We also provide sustenance allowance to our specially

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provided to our team members who require additional
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The objective is to ameliorate the living conditions and
provide better opportunities and sustenance to specially
abled employees of GPL.
1. Please indicate the Total number of employees
: 1174
2. Please indicate the Total number of employees
hired on temporary/contractual/casual basis :
226


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Principle 4 Businesses should respect the
interests of, and be responsive towards
all stakeholders, especially those who are
disadvantaged, vulnerable and marginalised
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stakeholders? Yes/No
Yes

3. Please indicate the Number of permanent
women employees : 310
4. Please indicate the Number of permanent
employees with disabilities : 0
5. Do you have an employee association that is
recognized by management : No
 6\[ VM [OL HIV]L OHZ [OL *VTWHU` PKLU[PÂLK
the disadvantaged, vulnerable & marginalized
stakeholders?

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needs of all its stakeholders, especially those who are
disadvantaged, vulnerable and marginalized.

6. What percentage of your permanent employees 3. Are there any special initiatives taken by the
are members of this recognized employee Company to engage with the disadvantaged,
association? 0 vulnerable and marginalized stakeholders. If so,
provide details thereof, in about 50 words or so.
7. Please indicate the Number of complaints
relating to child labour, forced labour, Under its Brighter Giving volunteering program, the
PU]VS\U[HY` SHIV\Y ZL_\HS OHYHZZTLU[ PU [OL volunteers were partnered with local NGOs that
SHZ[ ÂUHUJPHS `LHY HUK WLUKPUN HZ VU [OL LUK serve diverse communities and work on women
VM[OLÂUHUJPHS`LHY empowerment, education, holistic child development
through mentoring and working with differently abled
Sr. Category No of No of 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. Sexual 2 Nil Mumbai Marathon (SCMM) 2015 to support and raise
harassment funds for Teach for India. The funds raised by employees
are further used to provide better education facilities to
3. Discriminatory Nil Nil
employment children from marginalized background.

99
GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18
 Employees celebrated and participated in events at the
labor camps at Ahmedabad region. 200 children from the
age group of 2 to 12 years were involved in celebrating
Christmas.
A career counseling session was organized for children
from multiple NGOs to expose them to the workings
of organizations such as Godrej and hence incentivize
education. This was followed by an educational trip to the
mangroves.
Principle 5 : Businesses should respect and
promote human rights
1. Does the policy of the Company on human rights
JV]LYVUS`[OL*VTWHU`VYL_[LUK[V[OL.YV\W1VPU[
Ventures/Suppliers/Contractors/NGOs/ Other?
The Company has a policy that is applicable to all our
team members in the Company. For its subsidiaries and
joint ventures, the policy is applicable in line with the local
requirements prevailing in the area of operation. The
Company encourages its Business Partners to follow
the policy.
2. How many stakeholder complaints have been
YLJLP]LKPU[OLWHZ[ÂUHUJPHS`LHYHUK^OH[WLYJLU[
was satisfactorily resolved by the management?
During the year under review, no complaints were
received from any stakeholder.
Nil
Principle 6 : Business should respect, protect,
and make efforts to restore the environment
1. Does the policy related to Principle 6 cover only the
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Suppliers/Contractors/NGOs/Others.
Godrej Properties Ltd., as part of the larger GILAC
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goals by 2020 under the group wide policy of ‘Good &
Green’. ‘Green’ relates to the natural environment and
the business’s role in preserving & protecting the same
and extends to group companies, suppliers, vendors
and contractors and Green program partners.
;(8

100
GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18
More information on our Good & Green goals and programs
can be found at: http://www.godrejgoodandgreen.com.
2. Does the Company have strategies/ initiatives
to address global environmental issues such as
climate change, global warming, etc? Y/N. If yes,
please give hyperlink for webpage etc.
Godrej Properties Ltd. is committed to ensuring
environmental responsibility within our business. In
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commitment to sustainability across all domains of our
business. In order to meet the Godrej group’s 2020 Good
& Green goals, the company has set up environmental
monitoring & reporting systems using the Global
Reporting Initiative Generation 4 (GRI Generation

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performance indicators that cover Social, Environmental
& Economic aspects. This assessment has ensured a
continuous integration of sustainable practices across
operations at GPL. We have base-lined our consumption
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in operational practices, processes, technologies
and materials and understand our environmental
footprints. We have initiated cross functional learnings and
best practices as well as mitigation and offset projects to
reduce our environmental footprints.
We have initiated projects to offset the environmental
footprints due to our operations. We are in the process
of developing an Integrated Watershed Development in
the Beed district of Maharashtra that will offset out water
footprint by 2020. As part of the Beed watershed, we
have planted 2 Lac saplings of native, fruiting species
that will not only mitigate a large part of our operational
carbon footprint but also act as a secondary income for
the farmers. This plantation along with the watershed
project is registered under the international carbon
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BUSINESS RESPONSIBILITY
REPORT

3. Does the Company identify and assess potential

environmental risks? Y/N

- Environmental Impact Assessment is carried out for

large projects which can have a major impact on the
surrounding environment

- Strategies to minimize or negate the impact are

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- Soil Erosion control measures to avoid any

contamination of the site and/or surrounding areas

Beed Watershed Development: Beginning of Project: - Retaining at least 15-20% of the natural topography,
March 2016 ensures minimum impact to environment

- Developing over virgin ground creates issues for

water percolation into the ground. This is taken care
of by taking proper measures for rainwater harvesting
and recharge.

4. Does the Company have any project related to

Clean Development Mechanism? If so, provide
details thereof, in about 50 words or so. Also, if Yes,
whether any environmental compliance report is
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- Godrej One and Godrej BKC both use Solar

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requirement on-site

5. Has the Company undertaken any other initiatives

Beed Watershed Development: September 2017
We have set up waste-to-fuel facilities within Mumbai to
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sustainable and alternate fuel source for industries.
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energy, etc. Y/N. If yes, please give hyperlink for
web page etc.


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accommodate the Lighting and Switch Load
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solar panels currently available in the market to
generate 1% of the building’s entire connected load


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decrease the load on air conditioning are standard
practice for all major projects

Horticulture Waste to Fuel: February 2018 6. Are the Emissions/Waste generated by the Company
within the permissible limits given by CPCB/SPCB
More information on our Good & Green MVY[OLÂUHUJPHS`LHYILPUNYLWVY[LK&
goals and programs can be found at:
- Not Applicable -
http://www.godrejgoodandgreen.com/

101
GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18
7. Number of show cause/ legal notices received from
CPCB/SPCB which are pending (i.e. not resolved to
satisfaction) as on end of Financial Year.
- Not Applicable -
Principle 7 Businesses, when engaged in
PUÃ\LUJPUNW\ISPJHUKYLN\SH[VY`WVSPJ`ZOV\SK
do so in a responsible manner
1. Is your Company a member of any trade and
chamber or association? If Yes, Name only those
major ones that your business deals with:
GPL ensures that its policy consists of the highest degree
of responsible and ethical behaviour and works with
collective platforms such as trade and industry chambers
and associations to raise matters with the relevant
government bodies. GPL is a member of CII, FICCI and
other trade associations.
2. Have you advocated/lobbied through above
associations for the advancement or improvement
of public good? Yes/No;
 0M`LZZWLJPM`[OLIYVHKHYLHZKYVWIV_!.V]LYUHUJL
and Administration, Economic Reforms, Inclusive
Development Policies, Energy Security, Water, Food
Security, Sustainable Business Principles, Others)
GPL has representation through CII and other trade
associations for advancement/improvement of public
good.
;(8

Principle 8: Businesses should support inclusive
growth and equitable development
Our Good & Green vision inspires each one of us at Godrej
to continue to work towards building a brighter, greener and
more inclusive India. As part of our employability programmes,
we have trained over 130,000 young people from low-income
groups in skills that will enhance their earning potential.
As part of our Greener India programme, we have
implemented a number of environmental projects which
not only help us to mitigate our environmental footprints
but also to create healthier and more sustainable habitats.
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initiatives/projects in pursuit of the policy related to
Principle 8? If yes, details thereof.
Godrej recognizes and encourages the skill
development initiatives championed by the government
102
GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18
to increase employability and hence employment of
the youth. In pursuance of Godrej’s social responsibility
commitments, GPL runs Nipun, a program developed
to train and upskill blue collar workers in construction
and allied trades. In FY 2017-18, we’ve enabled training
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in skills such as Bar-bending, Masonry & Plastering,
Painting, Shuttering Carpentry, Tiling and Housekeeping.
These trainings are conducted in various states across the
country including Delhi, Gujarat, Maharashtra, Karnataka,
West Bengal, Jharkhand and Bihar.
The CSR & social initiatives have been recognised by
Stanford Social Innovation Review: https://ssir.org/
articles/entry/new_frontiers_in_indian_corporate_social_
responsibility?platform=hootsuite
We are in the process of developing an Integrated
Watershed Development in the Beed district of
Maharashtra. This project has completed 2 years of
development and has already brought much relief
to the area where the farmers have been able to take
two crops in the last harvest season. The watershed
has acted as a second source of income to farmers
lessening the number of farmers migrating to cities for
work. As part of the Beed watershed, we have planted
2 Lac saplings of native, fruiting species that will act
as a secondary income for the farmers. This plantation
along with the watershed project is registered under the
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2. Are the programmes/projects undertaken through
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government structures/any other organization?
The programs are delivered by NGOs and trainings
partners and are managed by our in-house team.
3. Have you done any impact assessment of your
initiative?
Yes. We have conducted a third party impact
assessment of Nipun. The carbon interventions at the
Beed watershed are registered under the international
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4. What is your Company’s direct contribution to
community development projects- Amount in INR
and the details of the projects undertaken.
Our community includes the workmen at our sites for
whom we conduct regular skill trainings under Nipun.
More information on Nipun is given under section 8.1.
BUSINESS RESPONSIBILITY
REPORT
5. Have you taken steps to ensure that this community
development initiative is successfully adopted by
[OLJVTT\UP[`&7SLHZLL_WSHPUPU^VYKZVYZV
Not Applicable
Principle 9 Businesses should engage with and
provide value to their customers and consumers
in a responsible matter
1. What percentage of customer complaints/consumer
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2. Does the Company display product information on
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thereof, in about 50 words or so.
No
4. Did your Company carry out any consumer survey/
consumer satisfaction trends?
Yes
103
GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18
GODREJ PROPERTIES LIMITED

FINANCIALS

104
GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18
.3)*5*3)*39
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7*5479

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105
GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18
GODREJ PROPERTIES LIMITED

Other Matters
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GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18
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GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18
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125
GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18
GODREJ PROPERTIES LIMITED

NOTES FORMING PART OF STANDALONE FINANCIAL STATEMENTS

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126
GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18
NOTES FORMING PART OF STANDALONE FINANCIAL STATEMENTS
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127
GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18
GODREJ PROPERTIES LIMITED

NOTES FORMING PART OF STANDALONE FINANCIAL STATEMENTS

(Currency in INR Crore)

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GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18
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129
GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18
GODREJ PROPERTIES LIMITED

NOTES FORMING PART OF STANDALONE FINANCIAL STATEMENTS

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130
GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18
NOTES FORMING PART OF STANDALONE FINANCIAL STATEMENTS
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131
GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18
GODREJ PROPERTIES LIMITED

NOTES FORMING PART OF STANDALONE FINANCIAL STATEMENTS

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132
GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18
NOTES FORMING PART OF STANDALONE FINANCIAL STATEMENTS
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133
GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18
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134
GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18
NOTES FORMING PART OF STANDALONE FINANCIAL STATEMENTS
(Currency in INR Crore)

I (TV\U[ZYLJVNUPZLKPU[OL:[HUKHSVULZ[H[LTLU[VMWYVÂ[HUKSVZZ    

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135
GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18
GODREJ PROPERTIES LIMITED

NOTES FORMING PART OF STANDALONE FINANCIAL STATEMENTS

(Currency in INR Crore)

 ;YHKL9LJLP]HISLZ
4HYJO 2FWHM


To related parties

Unsecured, Considered Good  

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In Current Accounts 



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136
GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18
NOTES FORMING PART OF STANDALONE FINANCIAL STATEMENTS
(Currency in INR Crore)

 3VHUZ*\YYLU[

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1TFS
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7JHJN[FGQJ

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Unbilled Revenue 


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137
GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18
GODREJ PROPERTIES LIMITED

NOTES FORMING PART OF STANDALONE FINANCIAL STATEMENTS

(Currency in INR Crore)

  6[OLY*\YYLU[5VU-PUHUJPHS(ZZL[Z
4HYJO 2FWHM


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TK
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138
GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18
NOTES FORMING PART OF STANDALONE FINANCIAL STATEMENTS
(Currency in INR Crore)

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

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in proportion to their shareholding.

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TK
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139
GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18
GODREJ PROPERTIES LIMITED

NOTES FORMING PART OF STANDALONE FINANCIAL STATEMENTS

(Currency in INR Crore)

7HY[PJ\SHYZ 4HYJO 2FWHM



No. of INR 3T
TK
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140
GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18
NOTES FORMING PART OF STANDALONE FINANCIAL STATEMENTS
(Currency in INR Crore)

K +LILU[\YL9LKLTW[PVU9LZLY]L

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redemption reserve, dividends or other distributions paid to shareholders.

O ;YLHZ\Y`:OHYLZ   

9MJ
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4H[\YP[` ;LYTZVM 4HYJO 2FWHM


Date YLWH`TLU[  
<UZLJ\YLK+LILU[\YLZ




5WJ[NTZX
>JFW
3NQ
WJIJJRFGQJ
STSHTS[JWYNGQJ
:LW[LTILY Single 500.00 

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3()
TK
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;FQZJ
.37

JFHM  7YPUJPWHS
9LWH`TLU[
at the end
VM[OL;LYT
500.00 

 7YV]PZPVUZ5VU*\YYLU[  

4HYJO 2FWHM


7YV]PZPVUMVY,TWSV`LL)LULÂ[Z
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141
GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18
GODREJ PROPERTIES LIMITED

NOTES FORMING PART OF STANDALONE FINANCIAL STATEMENTS

(Currency in INR Crore)

 )VYYV^PUNZ*\YYLU[

Interest Rate 4HYJO 2FWHM



:LJ\YLK3VHUZ
-YVT)HURZ
<TWPNSL
(FUNYFQ
)JRFSI
1TFS
7JKJW
3TYJ
F
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7.95%-8.35%
(FXM
(WJINY
1TFS
7JKJW
3TYJ

G
GJQT\ 


<UZLJ\YLK3VHUZ
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4[JWIWFKY
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7.58%-9.51%
4YMJW
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-YVT6[OLYZ
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5FUJWX 7.44%-7.65%  


 
F

8JHZWJI
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(ZWWJSY

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TK
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TK
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)ZJX
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8RFQQ
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4YMJWX  





)NXHQTXZWJ
TK
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TK
2NHWT
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8RFQQ
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\NYM
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8RFQQ
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2JINZR
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Development Act, 2006. There is no undisputed amount overdue as on March 31, 2018 and March 31, 2017 to Micro,
8RFQQ
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2JINZR
*SYJWUWNXJX
TS
FHHTZSY
TK
UWNSHNUFQ
TW
NSYJWJXY

142
GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18
NOTES FORMING PART OF STANDALONE FINANCIAL STATEMENTS
(Currency in INR Crore)

 6[OLY*\YYLU[-PUHUJPHS3PHIPSP[PLZ

4HYJO 2FWHM


.SYJWJXY
UF^FGQJ 



:SHQFNRJI
+N]JI
)JUTXNYX
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.SYJWJXY  


:SHQFNRJI
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4YMJWX 2.50


&I[FSHJ
8MFWJ
TK
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TK
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7JKJW
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8FQJ
TK
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8MFWJ
TK
5WTÁY

1TXX
NS
1NRNYJI
1NFGNQNY^
5FWYSJWXMNUX 

Lease Rent 


 


143
GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18
GODREJ PROPERTIES LIMITED

NOTES FORMING PART OF STANDALONE FINANCIAL STATEMENTS

(Currency in INR Crore)

 6[OLY0UJVTL

4HYJO 2FWHM


Interest Income 


Dividend Income 0.00


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TS
8FQJ
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5QFSY
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(TSXYWZHYNTS
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Land/ Development Right 


Construction, Material and Labour 


Architect Fees  


Other Costs 


Finance Costs 





1JXX

9WFSXKJWWJI
YT
5WTUJWY^
5QFSY
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1JXX

9WFSXKJWWJI
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Finished Goods 



(TSXYWZHYNTS
<TWPNS5WTLWJXX



 


 ,TWSV`LL)LULÂ[Z,_WLUZL

8FQFWNJX
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Contribution to Provident and Other Funds 


8MFWJ
'FXJI
5F^RJSYX
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8YFKK
<JQKFWJ
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.37

WJUWJXJSYX
FRTZSY
QJXX
YMFS
.37


144
GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18
NOTES FORMING PART OF STANDALONE FINANCIAL STATEMENTS
(Currency in INR Crore)

 -PUHUJL*VZ[Z

4HYJO 2FWHM


Interest Expense 


Interest on Income Tax 0.00


Total Interest Expense 


Other Borrowing costs 


;V[HS-PUHUJL*VZ[Z  


1JXX

9WFSXKJWWJI
YT
HTSXYWZHYNTS
\TWPNSUWTLWJXX 

5L[-PUHUJL*VZ[Z   


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TS
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TK
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 6[OLY,_WLUZLZ

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(MFWLJX 


Rent 


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Rates and Taxes  


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2FWPJYNSL
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Other Expenses 





 ,HYUPUNZ7LY:OHYL

H )HZPJ,HYUPUNZ7LY:OHYL 

9MJ
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TK
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Company



.37

WJUWJXJSYX
FRTZSY
QJXX
YMFS
.37


145
GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18
GODREJ PROPERTIES LIMITED

NOTES FORMING PART OF STANDALONE FINANCIAL STATEMENTS

(Currency in INR Crore)

4HYJO 2FWHM


(ii) >LPNO[LKH]LYHNLU\TILYVMVYKPUHY`ZOHYLZIHZPJ

3ZRGJW
TK
*VZNY^
8MFWJX
FY
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1JXX
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XMFWJX
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 )HZPJ,HYUPUNZ7LY:OHYL059 


I +PS\[LK,HYUPUNZ7LY:OHYL      

9MJ
HFQHZQFYNTS
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JFWSNSLX
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shares. .

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(basic)

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Diluted Earnings Per Share (INR) 


 ,TWSV`LL)LULÂ[Z

H +LÂULK*VU[YPI\[PVU7SHUZ! 

(TSYWNGZYNTS
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Allocation)

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.37

WJUWJXJSYX
FRTZSY
QJXX
YMFS
.37


146
GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18
NOTES FORMING PART OF STANDALONE FINANCIAL STATEMENTS
(Currency in INR Crore)

I +LÂULK)LULÂ[7SHUZ!      

(TSYWNGZYNTS
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3TS+ZSIJI

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TS
XJUFWFYNTS

YJWRNSFYNTS
NS
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TK
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TK
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5F^RJSY
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&HY
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9MJ
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TK
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NSHWJFXJX
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4HYJO 2FWHM


5WJXJSY
[FQZJ
TK
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FX
FY
GJLNSSNSL
TK
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^JFW 


Interest Cost 


Current Service Cost 


'JSJÁYX
5FNI 

*KKJHY
TK
1NFGNQNY^
9WFSXKJW
NS
0.02


*KKJHY
TK
1NFGNQNY^
9WFSXKJW
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Actuarial (gains) / losses on obligations - due to change 0.22



in demographic assumptions
Actuarial (gains) / losses on obligations - due to change  


NS
ÁSFSHNFQ
FXXZRUYNTSX
Actuarial (gains) / losses on obligations - due to change 


in experience
5WJXJSY
[FQZJ
TK
TGQNLFYNTS
FX
FY
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TK
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^JFW
 


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3JY
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Current Service Cost 


Interest Cost 


Total  


.37

WJUWJXJSYX
FRTZSY
QJXX
YMFS
.37


147
GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18
GODREJ PROPERTIES LIMITED

NOTES FORMING PART OF STANDALONE FINANCIAL STATEMENTS

(Currency in INR Crore)

4HYJO 2FWHM


9LJVNUPZLKPU6[OLY*VTWYLOLUZP]L0UJVTL6*0
Remeasurement due to:
Actuarial (gains)/losses on obligations - due to change in 0.22



demographic assumptions
Actuarial (gains)/losses on obligations - due to change in  


ÁSFSHNFQ
FXXZRUYNTSX
Actuarial (gains)/losses on obligations - due to change 


in experience
Total 


5L[.YH[\P[`JVZ[PU;V[HS*VTWYLOLUZP]L0UJVTL6*0   

P] ;OL7YPUJPWHSHZZ\TW[PVUZ\ZLKPUKL[LYTPUPUN[OLWYLZLU[]HS\LVMKLÂULKILULÂ[VISPNH[PVUMVY[OL*VTWHU`ºZ
WSHUHYLNP]LUILSV^!

7HY[PJ\SHYZ 4HYJO 2FWHM



Discount Rate  

8FQFW^
JXHFQFYNTS
WFYJ

































 

Attrition Rate -VYZLY]PJL`LHYZHUK 

ILSV^WH -VY

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2TWYFQNY^ 0UKPHU(ZZ\YLK3P]LZ .SINFS
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FX
FY
2FWHM


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shown below:

4HYJO 2FWHM


7HY[PJ\SHYZ
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Discount Rate (1% movement)  



8FQFW^
JXHFQFYNTS
WFYJ


RT[JRJSY
 



Attrition Rate (1% movement)  



9MJ
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RF^

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9MJWJ
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FSI
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KWTR
UWNTW
^JFW

148
GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18
NOTES FORMING PART OF STANDALONE FINANCIAL STATEMENTS
(Currency in INR Crore)

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

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Reporting Date
XY
+TQQT\NSL
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SI
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WI
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YM
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TK
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.37


149
GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18
GODREJ PROPERTIES LIMITED

NOTES FORMING PART OF STANDALONE FINANCIAL STATEMENTS

(Currency in INR Crore)

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150
GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18
NOTES FORMING PART OF STANDALONE FINANCIAL STATEMENTS
(Currency in INR Crore)

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151
GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18
GODREJ PROPERTIES LIMITED

NOTES FORMING PART OF STANDALONE FINANCIAL STATEMENTS

(Currency in INR Crore)

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152
GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18
NOTES FORMING PART OF STANDALONE FINANCIAL STATEMENTS
(Currency in INR Crore)

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153
GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18
GODREJ PROPERTIES LIMITED

NOTES FORMING PART OF STANDALONE FINANCIAL STATEMENTS

(Currency in INR Crore)

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154
GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18
NOTES FORMING PART OF STANDALONE FINANCIAL STATEMENTS
(Currency in INR Crore)

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155
GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18
GODREJ PROPERTIES LIMITED

NOTES FORMING PART OF STANDALONE FINANCIAL STATEMENTS

(Currency in INR Crore)

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156
GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18
NOTES FORMING PART OF STANDALONE FINANCIAL STATEMENTS
(Currency in INR Crore)

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157
GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18
GODREJ PROPERTIES LIMITED

NOTES FORMING PART OF STANDALONE FINANCIAL STATEMENTS

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158
GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18
NOTES FORMING PART OF STANDALONE FINANCIAL STATEMENTS


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159
GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18
GODREJ PROPERTIES LIMITED

NOTES FORMING PART OF STANDALONE FINANCIAL STATEMENTS


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160
GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18
NOTES FORMING PART OF STANDALONE FINANCIAL STATEMENTS
(Currency in INR Crore)


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161
GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18
GODREJ PROPERTIES LIMITED

NOTES FORMING PART OF STANDALONE FINANCIAL STATEMENTS

(Currency in INR Crore)

5H[\YLVM;YHUZHJ[PVU Godrej Godrej :\IZPKPHY` (ZZVJPH[L Joint Other Total

)V`JL Industries *VTWHUPLZ (iii) (a) Ventures related
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Investment made in Capital

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.37

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162
GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18
NOTES FORMING PART OF STANDALONE FINANCIAL STATEMENTS
(Currency in INR Crore)

5H[\YLVM;YHUZHJ[PVU Godrej Godrej :\IZPKPHY` (ZZVJPH[L Joint Other Total

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163
GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18
GODREJ PROPERTIES LIMITED

NOTES FORMING PART OF STANDALONE FINANCIAL STATEMENTS

(Currency in INR Crore)

5H[\YLVM;YHUZHJ[PVU Godrej Godrej :\IZPKPHY` (ZZVJPH[L Joint Other Total

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164
GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18
NOTES FORMING PART OF STANDALONE FINANCIAL STATEMENTS
(Currency in INR Crore)

 ;OLMVSSV^PUN[YHUZHJ[PVUZ^LYLJHYYPLKV\[^P[O[OL9LSH[LK7HY[PLZPU[OLVYKPUHY`JV\YZLVM)\ZPULZZ

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Loans and Advances given

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165
GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18
GODREJ PROPERTIES LIMITED

NOTES FORMING PART OF STANDALONE FINANCIAL STATEMENTS

(Currency in INR Crore)

NN

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combination.

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combination.

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Net Assets




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166
GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18
NOTES FORMING PART OF STANDALONE FINANCIAL STATEMENTS
(Currency in INR Crore)

0TWHJ[VU[OL:[HUKHSVUL:[H[LTLU[VM7YVÂ[HUK3VZZ

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Total Income





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FX
FI[NXJI
G^
TZW

FI[THFYJX
.S
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TUNSNTS
TK
YMJ
RFSFLJRJSY
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HQFNRX

are not sustainable
NN
(QFNRX
ZSIJW
YMJ
1FGTZW
1F\X
KTW
INXUZYJI
HFXJX 


iii) Claims under Stamp Acts 


N[
4YMJW
(QFNRX
STY
FHPST\QJILJI
FX
IJGYX 


[
(QFNRX
ZSIJW
.SHTRJ
9F]
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UWJKJWWJI
YT
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)JUZY^
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(TRRNXXNTSJW

TK
.SHTRJ
9F]

(Appeals)
[N
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2;&9
&UUJFQ
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(TRRNXXNTSJW/TNSY
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.;;
2ZRGFN
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Appellate tribunal at Bengaluru
[NNN
&UUJFQ
UWJKJWWJI
YT
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TK
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9F]
 


&UUJFQ


FY
2FMFWFXMYWF
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TK
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Local Areas Act, 2002
00 .\HYHU[LLZ!
N
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LN[JS
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(TRUFS^

NN
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LN[JS
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I *VTTP[TLU[Z

(i) 7HY[PJ\SHYZ
(FUNYFQ
(TRRNYRJSY
YT
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(<.5
ZSIJW



(TSXYWZHYNTS
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.SH
:8&

167
GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18
GODREJ PROPERTIES LIMITED

NOTES FORMING PART OF STANDALONE FINANCIAL STATEMENTS

(Currency in INR Crore)

NN
9MJ
(TRUFS^
JSYJWX
NSYT
HTSXYWZHYNTS
HTSYWFHYX
KTW
(N[NQ
*QJ[FYTW
*]YJWSFQ
)J[JQTURJSY
2*5
\TWP
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NYX

[JSITWX
9MJ
YTYFQ
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UF^FGQJ
ZSIJW
XZHM
HTSYWFHYX
\NQQ
GJ
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TS
FHYZFQ
RJFXZWJRJSYX
FSI
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WFYJX

\MNHM
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IJYJWRNSFGQJ
FX
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\MJS
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\TWP
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YMJ
XFNI
HTSYWFHYX
FWJ
HTRUQJYJI

NNN
9MJ
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MFX
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NSYT
IJ[JQTURJSY
FLWJJRJSYX
\NYM
T\SJWX
TK
QFSI
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IJ[JQTURJSY
TK
UWTOJHYX
:SIJW
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FLWJJRJSYX
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(TRUFS^
NX
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HJWYFNS
UF^RJSYX
IJUTXNYX
YT
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TK
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FSI
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NS
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 7H`TLU[[V(\KP[VYZUL[VM[H_LZ

7HY[PJ\SHYZ 4HYJO 2FWHM



Audit Fees 


&ZINY
:SIJW
4YMJW
8YFYZYJX 


9F]FYNTS
2FYYJWX



(JWYNÁHFYNTS 


7JNRGZWXJRJSY
TK
*]UJSXJX



Total 



UJWYFNSX
YT
KJJX
UFNI
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JWXY\MNQJ
FZINYTWX

 -VYLPNU,_JOHUNL+PMMLYLUJL

9MJ
FRTZSY
TK
J]HMFSLJ
INKKJWJSHJ
NSHQZIJI
NS
YMJ
8YFYJRJSY
TK
5WTÁY
FSI
1TXX
NX
.37

(WTWJ
3JY
1TXX
5WJ[NTZX

>JFW
.37

(WTWJ
3JY
1TXX

 *VYWVYH[L:VJPHS9LZWVUZPIPSP[`

9MJ
(TRUFS^
MFX
XUJSY
.37

(WTWJ
IZWNSL
YMJ
^JFW
5WJ[NTZX
>JFW
.37

(WTWJ
FX
UJW
YMJ
UWT[NXNTSX
TK
8JHYNTS


TK
YMJ
(TRUFSNJX
&HY

YT\FWIX
(TWUTWFYJ
8THNFQ
7JXUTSXNGNQNY^
(87
FHYN[NYNJX
LWTZUJI
ZSIJW
·4YMJW
*]UJSXJX¸

F
,WTXX
FRTZSY
WJVZNWJI
YT
GJ
XUJSY
G^
YMJ
(TRUFS^
IZWNSL
YMJ
^JFW
.37

(WTWJ
5WJ[NTZX
>JFW
.37

(WTWJ

G
&RTZSY
XUJSY
IZWNSL
YMJ
^JFW
TS

7HY[PJ\SHYZ (TV\U[:WLU[ (TV\U[`L[[VIL Total

in Cash paid in Cash (TV\U[
@LHYLUKLK4HYJO
N
(TSXYWZHYNTS

&HVZNXNYNTS
TK
FS^
&XXJY   
NN
4S
UZWUTXJX
TYMJW
YMFS
N
FGT[J   
>JFW
JSIJI
2FWHM


N
(TSXYWZHYNTS

&HVZNXNYNTS
TK
FS^
&XXJY





NN
4S
UZWUTXJX
TYMJW
YMFS
N
FGT[J 





9MJ
YTYFQ
FRTZSY
XUJSY
G^
-FUU^
-NLMWNXJX
1NRNYJI
\MNHM
\FX
FRFQLFRFYJI
\NYM
YMJ
(TRUFS^
IZWNSL
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^JFW
JSIJI

2FWHM


FRTZSYJI
YT
.37

(WTWJ
TZY
TK
\MNHM
.37

(WTWJ
\FX
TZYXYFSINSL
FX
FY
2FWHM



168
GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18
NOTES FORMING PART OF STANDALONE FINANCIAL STATEMENTS
(Currency in INR Crore)

  :LNTLU[9LWVY[PUN

( )HZPZVM:LNTLU[H[PVU
-HJ[VYZ\ZLK[VPKLU[PM`[OLLU[P[`ºZYLWVY[HISLZLNTLU[ZPUJS\KPUN[OLIHZPZVMVYNHUPZH[PVU


+TW
RFSFLJRJSY
UZWUTXJX
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(TRUFS^
MFX
TSQ^
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WJUTWYFGQJ
XJLRJSYX
SFRJQ^
)J[JQTURJSY
TK
WJFQ

JXYFYJ
UWTUJWY^
9MJ
2FSFLNSL
)NWJHYTW
TK
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(TRUFS^
FHYX
FX
YMJ
(MNJK
4UJWFYNSL
)JHNXNTS
2FPJW
µ(4)2¶

9MJ
(4)2
J[FQZFYJX
YMJ
(TRUFS^¸X
UJWKTWRFSHJ
FSI
FQQTHFYJX
WJXTZWHJX
GFXJI
TS
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FSFQ^XNX
TK
[FWNTZX
UJWKTWRFSHJ

NSINHFYTWX

) .LVNYHWOPJHS0UMVYTH[PVU

9MJ
LJTLWFUMNH
NSKTWRFYNTS
FSFQ^XJX
YMJ
(TRUFS^¸X
WJ[JSZJ
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3TS(ZWWJSY
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TK

ITRNHNQJ
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)J[JQTURJSY
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7JFQ
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.SINF
NY
MFX
TSQ^

TSJ
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LJTLWFUMNHFQ
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* 0UMVYTH[PVUHIV\[THQVYJ\Z[VTLYZ

3TSJ
TK
YMJ
HZXYTRJWX
KTW
YMJ
^JFW
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2FWHM


FSI
2FWHM


HTSXYNYZYJI


TW
RTWJ
TK
YMJ
YTYFQ

WJ[JSZJ
TK
YMJ
(TRUFS^

 :WLJPÂLK)HUR5V[LZ+PZJSVZ\YL

.S
FHHTWIFSHJ
\NYM
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3TYNÁHFYNTS
3T
,87
 *
NXXZJI
G^
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2NSNXYW^
TK
(TWUTWFYJ
&KKFNWX
IFYJI
2FWHM


YMJ

IJYFNQX
TK
8UJHNÁJI
'FSP
3TYJX 8'3
MJQI
FSI
YWFSXFHYJI
IZWNSL
YMJ
UJWNTI
3T[JRGJW


YT
)JHJRGJW


NX

UWT[NIJI
NS
YMJ
YFGQJ
GJQT\

&RTZSY
.S
.37

7HY[PJ\SHYZ SBNs 6[OLY+LUVTPUH[PVU Total

Notes
*SVZPUNJHZOPUOHUKHZVU5V]LTILY






&II
5JWRNYYJI
7JHJNUYX







1JXX
5JWRNYYJI
5F^RJSYX







1JXX
&RTZSY
IJUTXNYJI
NS
'FSPX







*SVZPUNJHZOPUOHUKHZVU+LJLTILY   

 *VUZ[Y\J[PVU*VU[YHJ[Z

7HY[PJ\SHYZ 4HYJO 2FWHM



-VYJVU[YHJ[ZPUWYVNYLZZHZVU[OLYLWVY[PUNKH[L
&LLWJLFYJ
FRTZSY
TK
HTSYWFHY
HTXYX
NSHZWWJI
FSI
UWTÁYX
 
WJHTLSNXJI
QJXX
WJHTLNXJI
QTXXJX
YNQQ
WJUTWYNSL
IFYJ
'FQFSHJ
TK
&I[FSHJ
KWTR
HZXYTRJW
FX
TS
WJUTWYNSL
IFYJ  
&RTZSY
TK
\TWPNSUWTLWJXX
FSI
YMJ
[FQZJ
TK
NS[JSYTWNJX
FX
TS
 


YMJ
WJUTWYNSL
IFYJ
*]HJXX
TK
WJ[JSZJ
WJHTLSNXJI
T[JW
FHYZFQ
GNQQX
WFNXJI
:SGNQQJI
 
WJ[JSZJ
52
9MJ
\WNYJIT\S
TK
NS[JSYTWNJX
YT
SJY
WJFQNXFGQJ
[FQZJ
IZWNSL
YMJ
^JFW
FRTZSYJI
YT
.37

(WTWJ
5WJ[NTZX
>JFW
3NQ

169
GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18
GODREJ PROPERTIES LIMITED

NOTES FORMING PART OF STANDALONE FINANCIAL STATEMENTS


(FXM
FSI
(FXM
*VZN[FQJSYX
FSI
'FSP
'FQFSHJX
NSHQZIJX
GFQFSHJX
NS
*XHWT\
&HHTZSY
\MNHM
XMFQQ
GJ
ZXJI
TSQ^
KTW
XUJHNÁJI

UZWUTXJX
FX
IJÁSJI
ZSIJW
7JFQ
*XYFYJ
7JLZQFYNTS
FSI
)J[JQTURJSY
&HY



9MJ
ÁLZWJX
KTW
YMJ
UWJ[NTZX
^JFW
MF[J
GJJS
WJLWTZUJI

WJHQFXXNÁJI
YT
HTWWJXUTSI
\NYM
HZWWJSY
^JFW¸X
HQFXXNÁHFYNTS

INXHQTXZWJ
YMFY
NSHQZIJ
HMFSLJX
HTSXJVZJSY
YT
YMJ
NXXZFSHJ
TK
µ,ZNIFSHJ
3TYJ
TS
)N[NXNTS
..

.SI
&8
8HMJIZQJ
...
YT
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(TRUFSNJX
&HY
¶

55
5WJ[NTZX
^JFW¸X
ÁLZWJX
\JWJ
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G^
F
ÁWR
TK
(MFWYJWJI
&HHTZSYFSYX
TYMJW
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'
8
7

(T
115

 0UMVYTH[PVUVU:\IZPKPHYPLZ1VPU[=LU[\YLZHUK(ZZVJPH[LZ

 H 0UMVYTH[PVUVU:\IZPKPHYPLZ

Sr. 5HTLVM[OLLU[P[` *V\U[Y`VM 7LYJLU[HNLVM/VSKPUN 7LYJLU[HNLVM=V[PUN9PNO[Z

No. 0UJVYWVYH[PVU (ZVU4HYJO &X
TS
2FWHM
(ZVU4HYJO &X
TS
2FWHM

 
  




(i) *VTWHUPLZ!
 ,TIWJO
'ZNQIHTS
5WN[FYJ
India  

Limited
 ,TIWJO
5WTOJHYX
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India  

Limited
KTWRJWQ^
PST\S
FX
,TIWJO

5WTOJHYX
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5WN[FYJ

1NRNYJI
 ,TIWJO
,FWIJS
(NY^
5WTUJWYNJX
India  

5WN[FYJ
1NRNYJI

 ,TIWJO
-NQQXNIJ
5WTUJWYNJX
India  

5WN[FYJ
1NRNYJI

 ,TIWJO
-TRJ
)J[JQTUJWX
India  

5WN[FYJ
1NRNYJI

 ,TIWJO
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&I[NXTWX
India N.A 

5WN[FYJ
1NRNYJI
8ZGXNINFW^
YNQQ

/ZSJ


 ,TIWJO
5WFPWNYN
+FHNQNYNJX
5WN[FYJ
India   

Limited
 5WFPWNYNUQF_F
+FHNQNYNJX
India   

2FSFLJRJSY
5WN[FYJ
1NRNYJI
 ,TIWJO
-NLMWNXJX
5WTUJWYNJX
India   

5WN[FYJ
1NRNYJI

 ,TIWJO
+ZSI
2FSFLJRJSY
8NSLFUTWJ
N.A 

5YJ
1YI


8ZGXNINFW^
TK
,TIWJO

.S[JXYRJSY
&I[NXTWX
5WN[FYJ

1NRNYJI
8ZGXNINFW^
YNQQ
/ZSJ




170
GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18
NOTES FORMING PART OF STANDALONE FINANCIAL STATEMENTS

Sr. 5HTLVM[OLLU[P[` *V\U[Y`VM 7LYJLU[HNLVM/VSKPUN 7LYJLU[HNLVM=V[PUN9PNO[Z

No. 0UJVYWVYH[PVU (ZVU4HYJO &X
TS
2FWHM
(ZVU4HYJO &X
TS
2FWHM

 
  




 (NY^XYFW
.SKWFUWTOJHYX
1NRNYJI India  

 ,TIWJO
7JXNIJSH^
5WN[FYJ
India  

Limited
 ,TIWJO
,WJJS
-TRJX
1NRNYJI India N.A 

(QFXXNÁJI
FX
/TNSY
;JSYZWJ

\JK
2FWHM


 ,TIWJO
5WTUJWYNJX
<TWQI\NIJ
:8&  3&
.SH
:8&

(ii) LLPs
 ,TIWJO
-NLMWNXJX
7JFQY^
115
India  
 

 ,TIWJO
5WTOJHY
)J[JQTUJWX

India  

 

5WTUJWYNJX
115

 ,TIWJO
-NLM[NJ\
115 India N.A 
N.A 

 ,TIWJO
5WTOJHYX
5ZSJ
115 India  

 

 ,TIWJO
5WTOJHYX
8TRF
115 India  3&  3&

 ,TIWJO
5WTOJHYX
3TWYM
115 India  3&  3&
KTWRJWQ^
PST\S
FX
,TIWJO

5WTOJHYX
'QZJOF^
115
 ,TIWJO
&YMJSRFWP
115 India  3&  3&
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;JXYFRFWP
115 India  3&  3&
 ,TIWJO
&[FRFWP
115 India  3&  3&
I 0UMVYTH[PVUVU1VPU[=LU[\YLZ!

Sr. 5HTLVM[OLLU[P[` *V\U[Y`VM 7LYJLU[HNLVM/VSKPUN 7LYJLU[HNLVM=V[PUN9PNO[Z

No. 0UJVYWVYH[PVU (ZVU4HYJO &X
TS
2FWHM
(ZVU4HYJO &X
TS
2FWHM

 
  




(i) *VTWHUPLZ!
 ,TIWJO
7JFQY^
5WN[FYJ
1NRNYJI India  

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8UFHJ
5WTUJWYNJX
India  

5WN[FYJ
1NRNYJI
 <TSIJW
(NY^
'ZNQIHTS
5WN[FYJ
India  

Limited
 ,TIWJO
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(TSXYWZHYNTSX
India  

5WN[FYJ
1NRNYJI

 ,TIWJO
,WJJS[NJ\
-TZXNSL
India  

5WN[FYJ
1NRNYJI
 <TSIJW
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India  

5WN[FYJ
1NRNYJI

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India  

5WN[FYJ
1NRNYJI

171
GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18
GODREJ PROPERTIES LIMITED

NOTES FORMING PART OF STANDALONE FINANCIAL STATEMENTS

Sr. 5HTLVM[OLLU[P[` *V\U[Y`VM 7LYJLU[HNLVM/VSKPUN 7LYJLU[HNLVM=V[PUN9PNO[Z

No. 0UJVYWVYH[PVU (ZVU4HYJO &X
TS
2FWHM
(ZVU4HYJO &X
TS
2FWHM

 
  




 ,TIWJO
,WJJS
-TRJX
1NRNYJI
India  3&

(QFXXNÁJI
FX
8ZGXNINFW^
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2FWHM


 5JFWQNYJ
7JFQ
5WTUJWYNJX
5WN[FYJ
India   

Limited
(ii) LLPs
 ,TIWJO
5WTUJWY^
)J[JQTUJWX
India  
 

115
 2TXNFH
1FSIRFWPX
115
India  
 

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<TWQI
1FSIRFWPX
115
India  
 

 4]KTWI
7JFQY^
115
India  
 

 ,TIWJO
885)1
,WJJS
&HWJX
India  

 

115

 4FXNX
1FSIRFWPX
115 India  
 

 2
8
7FRFNFM
;JSYZWJX
115
India   

 

 (FWTF
5WTUJWYNJX
115
India  
 

 ,TIWJO
(TSXYWZHYNTS
5WTOJHYX
India  

 

115

 ,TIWJO
-TZXNSL
5WTOJHYX
115
India  
 

 &RNYNX
)J[JQTUJWX
115
India  
 

 &
7
1FSIHWFKY
115
India   
 

 5WFPMM^FY
)\JQQNSLX
115 India  

 

 'F[IMFS
7JFQY^
%
5ZSJ

India  

 

115
 ,TIWJO
-NLM[NJ\
115 India  3&  3&
 ,TIWJO
)J[JQTUJWX

India  3&  3&
5WTUJWYNJX
115

\JK
4HYTGJW



 ,TIWJO
.WNXRFWP
115 India  3&  3&
 ,TIWJO
5WTOJHYX
3TWYM
8YFW
India  3&  3&
115
KTWRJWQ^
PST\S
FX
,TIWJO

(JSYZW^
115

.S
HFXJ
TK
115X
UJWHJSYFLJ
TK
MTQINSL
NS
YMJ
FGT[J
YFGQJ
IJSTYJX
YMJ
8MFWJ
TK
5WTÁYX
NS
YMJ
115

J 0UMVYTH[PVUVU(ZZVJPH[L!

Sr. 5HTLVM[OLLU[P[` *V\U[Y`VM 7LYJLU[HNLVM/VSKPUN 7LYJLU[HNLVM=V[PUN9PNO[Z

No. 0UJVYWVYH[PVU (ZVU4HYJO &X
TS
2FWHM
(ZVU4HYJO &X
TS
2FWHM

 
  




(i) *VTWHUPLZ!
 ,TIWJO
4SJ
5WJRNXJX
India  

2FSFLJRJSY
5WN[FYJ
1NRNYJI

172
GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18
NOTES FORMING PART OF STANDALONE FINANCIAL STATEMENTS
(Currency in INR Crore)

 +PZJSVZ\YLW\YZ\HU[[V:LJ[PVUVM[OL*VTWHUPLZ(J[HUK\UKLY9LN\SH[PVUVM[OL:,)03PZ[PUN
6ISPNH[PVUHUK+PZJSVZ\YL9LX\PYLTLU[Z9LN\SH[PVUZ
Sr. 5H[\YLVM;YHUZHJ[PVUSVHUZ Purpose for )HSHUJLHZH[ 4V]LTLU[ 4H_PT\T
No. NP]LUPU]LZ[TLU[THKL ^OPJO[OLSVHU during the Outstanding
N\HYHU[LLNP]LUZLJ\YP[` N\HYHU[LLZLJ\YP[` Year +\YPUN[OL`LHY
WYV]PKLK is proposed to 4HYJO 2FWHM
4HYJO 2FWHM

IL\[PSPZLKI`[OL  
  

YLJPWPLU[
 3VHUZHUK(K]HUJLZ
,TIWJO
7JFQY^
5WN[FYJ
1NRNYJI <TWPNSL
(FUNYFQ 






,TIWJO
;NPMWTQN
5WTUJWYNJX
.SINF
<TWPNSL
(FUNYFQ 


 


Limited*
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178
GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18
FSI
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TK
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For B S R & Co. LLP

Chartered Accountants
Firm’s Registration No: 101248W/W-100022

(UPY\KKOH.VKIVSL
2ZRGFN Partner

2F^
 Membership No: 105149

179
GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18
GODREJ PROPERTIES LIMITED

(43841.)&9*)
'&1&3(*
8-**9
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(ZWWJSH^
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ASSETS
5VU*\YYLU[(ZZL[Z
5WTUJWY^
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Current Assets
.S[JSYTWNJX   


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Investments  



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4YMJW
(ZWWJSY
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&XXJYX    


4YMJW
(ZWWJSY
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Total Current Assets 


TOTAL ASSETS  


EQUITY AND LIABILITIES
EQUITY
*VZNY^
8MFWJ
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4YMJW
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;V[HS,X\P[`  


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TOTAL EQUITY AND LIABILITIES  


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For B S R & Co. LLP .VKYLQ7YVWLY[PLZ3PTP[LK
Chartered Accountants PIROJSHA GODREJ MOHIT MALHOTRA
+NWR¸X
7JLNXYWFYNTS
3T
<< Executive Chairman Managing Director & CEO
).3
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ANIRUDDHA GODBOLE SURENDER VARMA RAJENDRA KHETAWAT
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8JHWJYFW^ (MNJK
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180
GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18
(43841.)&9*)
89&9*2*39
4+
574+.9
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1488
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>*&7
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INCOME

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EXPENSES
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Total Expenses  


7YVÂ[ILMVYLZOHYLVMWYVÂ[PUQVPU[]LU[\YLZHUK 


associate and tax
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TK
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Total Tax Expense 


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For B S R & Co. LLP .VKYLQ7YVWLY[PLZ3PTP[LK
Chartered Accountants PIROJSHA GODREJ MOHIT MALHOTRA
+NWR¸X
7JLNXYWFYNTS
3T
<< Executive Chairman Managing Director & CEO
).3
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ANIRUDDHA GODBOLE SURENDER VARMA RAJENDRA KHETAWAT
5FWYSJW (TRUFS^
8JHWJYFW^ (MNJK
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181
GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18
GODREJ PROPERTIES LIMITED

(43841.)&9*)
89&9*2*39
4+
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+47
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7JKJW
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)HSHUJLHZH[4HYJO 7.20 132.62 1,699.22 - 3.69 53.19 - (0.37) 1,895.55
Balance as at April 01, 2017 7.20 132.62 1,699.22 - 3.69 53.19 - (0.37) 1,895.55
;V[HS*VTWYLOLUZP]L0UJVTL!
i) 5WTÁY
KTW
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^JFW - - - - - 234.96 - - 234.96
ii) 7JRJFXZWJRJSYX
TK
YMJ
IJÁSJI
GJSJÁY
- - - - - (2.81) - - (2.81)
UQFS
SJY
TK
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Adjustments:
i) &IINYNTSX
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^JFW - (0.01) - - - - - 0.37 0.36
ii) 9WFSXKJW
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IJGJSYZWJ
WJIJRUYNTS
- - - 50.00 - (50.00) - - -
reserve
iii) 9WFSXKJW
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XJHZWNYNJX
UWJRNZR
TS
- - 3.03 - (3.03) - - - -
J]JWHNXJ
TK
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iv) 8MFWJ
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JRUQT^JJX
- - - - 3.99 - - - 3.99
7JKJW
3TYJ

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9MJ
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8YFYJRJSYX
-VYHUKVUILOHSMVM[OL)VHYKVM+PYLJ[VYZVM
For B S R & Co. LLP .VKYLQ7YVWLY[PLZ3PTP[LK
Chartered Accountants PIROJSHA GODREJ MOHIT MALHOTRA
+NWR¸X
7JLNXYWFYNTS
3T
<< Executive Chairman Managing Director & CEO
).3
 ).3

ANIRUDDHA GODBOLE SURENDER VARMA RAJENDRA KHETAWAT
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182
GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18
(43841.)&9*)
89&9*2*39
4+
(&8-
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GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18
GODREJ PROPERTIES LIMITED

NOTES FORMING PART OF CONSOLIDATED FINANCIAL STATEMENTS

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GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18
GODREJ PROPERTIES LIMITED

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GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18
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GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18
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199
GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18
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GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18
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GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18

203
GODREJ PROPERTIES LIMITED

NOTES FORMING PART OF CONSOLIDATED FINANCIAL STATEMENTS

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204
GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18
NOTES FORMING PART OF CONSOLIDATED FINANCIAL STATEMENTS
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205
GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18
GODREJ PROPERTIES LIMITED

NOTES FORMING PART OF CONSOLIDATED FINANCIAL STATEMENTS

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206
GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18
NOTES FORMING PART OF CONSOLIDATED FINANCIAL STATEMENTS
(Currency in INR Crore)

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207
GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18
GODREJ PROPERTIES LIMITED

NOTES FORMING PART OF CONSOLIDATED FINANCIAL STATEMENTS

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208
GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18
NOTES FORMING PART OF CONSOLIDATED FINANCIAL STATEMENTS
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209
GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18
GODREJ PROPERTIES LIMITED

NOTES FORMING PART OF CONSOLIDATED FINANCIAL STATEMENTS

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210
GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18
NOTES FORMING PART OF CONSOLIDATED FINANCIAL STATEMENTS
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211
GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18
GODREJ PROPERTIES LIMITED

NOTES FORMING PART OF CONSOLIDATED FINANCIAL STATEMENTS

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212
GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18
NOTES FORMING PART OF CONSOLIDATED FINANCIAL STATEMENTS
(Currency in INR Crore)

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213
GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18
GODREJ PROPERTIES LIMITED

NOTES FORMING PART OF CONSOLIDATED FINANCIAL STATEMENTS

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214
GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18
NOTES FORMING PART OF CONSOLIDATED FINANCIAL STATEMENTS
(Currency in INR Crore)

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215
GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18
GODREJ PROPERTIES LIMITED

NOTES FORMING PART OF CONSOLIDATED FINANCIAL STATEMENTS

(Currency in INR Crore)

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216
GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18
NOTES FORMING PART OF CONSOLIDATED FINANCIAL STATEMENTS
(Currency in INR Crore)

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Finished Goods 



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 ,TWSV`LL)LULÂ[Z,_WLUZL

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Contribution to Provident and Other Funds 


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 -PUHUJL*VZ[Z

Interest Expense 


Interest on Income Tax 


Total Interest Expense  


Other Borrowing costs 


Total Finance Costs 


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Net Finance Costs 


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217
GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18
GODREJ PROPERTIES LIMITED

NOTES FORMING PART OF CONSOLIDATED FINANCIAL STATEMENTS

(Currency in INR Crore)

 6[OLY,_WLUZLZ

4HYJO 2FWHM


(TSXZQYFSH^
(MFWLJX 


Rent  


Insurance 


Rates and Taxes 9.50


&I[JWYNXJRJSY
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Other Expenses 





 ,HYUPUNZ7LY:OHYL

a) Basic Earnings Per Share

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Basic Earnings Per Share (INR) 


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Diluted Earnings Per Share (INR) 


218
GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18
NOTES FORMING PART OF CONSOLIDATED FINANCIAL STATEMENTS
(Currency in INR Crore)

 ,TWSV`LLILULÂ[Z

H +LÂULK*VU[YPI\[PVU7SHUZ!

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Particulars 4HYJO 2FWHM



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Interest Cost 0.52


Current Service Cost 


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0.02


*KKJHY
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Actuarial (gains)/ losses on obligations - due to change in 



demographic assumptions
Actuarial (gains)/ losses on obligations - due to change in 


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Actuarial (gains) / losses on obligations - due to change 0.55


in experience
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.37

WJUWJXJSYX
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.37


219
GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18
GODREJ PROPERTIES LIMITED

NOTES FORMING PART OF CONSOLIDATED FINANCIAL STATEMENTS

(Currency in INR Crore)

 PPP 5L[NYH[\P[`JVZ[MVY[OL`LHYLUKLK

Particulars 4HYJO 2FWHM



9LJVNUPZLK PU [OL *VUZVSPKH[LK :[H[LTLU[ VM 7YVÂ[
and Loss
Current Service Cost 


Interest Cost 0.52


Total  


9LJVNUPZLKPU6[OLY*VTWYLOLUZP]L0UJVTL6*0
Remeasurements due to:
Actuarial (gains)/losses on obligations - due to change in 



demographic assumptions
Actuarial (gains)/losses on obligations - due to change in 


ÁSFSHNFQ
FXXZRUYNTSX
Actuarial (gains)/losses on obligations - due to change 0.55


in experience
Total 


5L[NYH[\P[`JVZ[PU;V[HS*VTWYLOLUZP]L0UJVTL 6.27


P] ;OL7YPUJPWHSHZZ\TW[PVUZ\ZLKPUKL[LYTPUPUN[OLWYLZLU[]HS\LVMKLÂULKILULÂ[VISPNH[PVUMVY[OL.YV\WºZ
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Discount rate  

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220
GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18
NOTES FORMING PART OF CONSOLIDATED FINANCIAL STATEMENTS
(Currency in INR Crore)

] :LUZP[P]P[`HUHS`ZPZ

&
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shown below:

4HYJO 2FWHM


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Increase Decrease .SHWJFXJ )JHWJFXJ

Discount Rate (1% movement)  



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Reporting Date
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WI
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221
GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18
GODREJ PROPERTIES LIMITED

NOTES FORMING PART OF CONSOLIDATED FINANCIAL STATEMENTS

(Currency in INR Crore)

*HYY`PUNHTV\U[ -HPY]HS\L
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INR 0.00 represents amount less than INR 50,000

222
GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18
NOTES FORMING PART OF CONSOLIDATED FINANCIAL STATEMENTS
(Currency in INR Crore)

*HYY`PUNHTV\U[ -HPY]HS\L
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the investors.

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Level 2.

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.37


223
GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18
GODREJ PROPERTIES LIMITED

NOTES FORMING PART OF CONSOLIDATED FINANCIAL STATEMENTS

(Currency in INR Crore)

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Opening balance 0.55


Add: Impairment loss recognised   



Closing balance 


224
GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18
NOTES FORMING PART OF CONSOLIDATED FINANCIAL STATEMENTS
(Currency in INR Crore)

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Current

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4
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225
GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18
GODREJ PROPERTIES LIMITED

NOTES FORMING PART OF CONSOLIDATED FINANCIAL STATEMENTS

(Currency in INR Crore)

(iii) Market Risk

2FWPJY
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Financial assets

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226
GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18
NOTES FORMING PART OF CONSOLIDATED FINANCIAL STATEMENTS
(Currency in INR Crore)

Particulars 7YVÂ[VY3VZZ059PU*YVYL
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227
GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18
GODREJ PROPERTIES LIMITED

NOTES FORMING PART OF CONSOLIDATED FINANCIAL STATEMENTS

(Currency in INR Crore)

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228
GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18
NOTES FORMING PART OF CONSOLIDATED FINANCIAL STATEMENTS
(Currency in INR Crore)

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229
GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18
GODREJ PROPERTIES LIMITED

NOTES FORMING PART OF CONSOLIDATED FINANCIAL STATEMENTS

iii) a) Associate


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230
GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18
NOTES FORMING PART OF CONSOLIDATED FINANCIAL STATEMENTS
(Currency in INR Crore)


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231
GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18
GODREJ PROPERTIES LIMITED

NOTES FORMING PART OF CONSOLIDATED FINANCIAL STATEMENTS

(Currency in INR Crore)

5H[\YLVM;YHUZHJ[PVU .VKYLQ )V`JL Godrej Other Related Associate Joint Total

4HU\MHJ[\YPUN Industries Parties in Godrej (iii) (a) Ventures
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232
GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18
NOTES FORMING PART OF CONSOLIDATED FINANCIAL STATEMENTS
(Currency in INR Crore)

5H[\YLVM;YHUZHJ[PVU .VKYLQ )V`JL Godrej Other Related Associate Joint Total

4HU\MHJ[\YPUN Industries Parties in Godrej (iii) (a) Ventures
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233
GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18
GODREJ PROPERTIES LIMITED

NOTES FORMING PART OF CONSOLIDATED FINANCIAL STATEMENTS

(Currency in INR Crore)

5H[\YLVM;YHUZHJ[PVU .VKYLQ )V`JL Godrej Other Related Associate Joint Total

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234
GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18
NOTES FORMING PART OF CONSOLIDATED FINANCIAL STATEMENTS
(Currency in INR Crore)

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235
GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18
GODREJ PROPERTIES LIMITED

NOTES FORMING PART OF CONSOLIDATED FINANCIAL STATEMENTS

(Currency in INR Crore)

I *VTTP[TLU[Z

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236
GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18
NOTES FORMING PART OF CONSOLIDATED FINANCIAL STATEMENTS
(Currency in INR Crore)

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237
GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18
GODREJ PROPERTIES LIMITED

NOTES FORMING PART OF CONSOLIDATED FINANCIAL STATEMENTS

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238
GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18
NOTES FORMING PART OF CONSOLIDATED FINANCIAL STATEMENTS

 I 0UMVYTH[PVUVU1VPU[=LU[\YLZ!

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239
GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18
GODREJ PROPERTIES LIMITED

NOTES FORMING PART OF CONSOLIDATED FINANCIAL STATEMENTS

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240
GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18
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GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18

241
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No. TPU\Z[V[HSSPHIPSP[PLZ WYVÂ[VYSVZZ V[OLYJVTWYLOLUZP]L [V[HSJVTWYLOLUZP]LPUJVTL
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GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18

243
 Sr. 5HTLVM[OL,U[P[` Net Assets i.e. total assets Share in Share in Share in
No.

244
TPU\Z[V[HSSPHIPSP[PLZ WYVÂ[VYSVZZ V[OLYJVTWYLOLUZP]L [V[HSJVTWYLOLUZP]LPUJVTL
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Chartered Accountants PIROJSHA GODREJ MOHIT MALHOTRA
NOTES FORMING PART OF CONSOLIDATED FINANCIAL STATEMENTS

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<< Executive Chairman Managing Director & CEO

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ANIRUDDHA GODBOLE SURENDER VARMA RAJENDRA KHETAWAT
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GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18

245
INR 0.00 represents amount less than INR 50,000
 Sr. 5HTLVM Reporting Accounting Capital 9LZLY]LZ Total Total 0U]LZ[TLU[Z ;\YUV]LY 7YVÂ[ Current +LMLYYLK 7YV]PZPVU 7YVÂ[ VM *V\U[Y`
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246
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GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18

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GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18

247
INR 0.00 represents amount less than INR 50,000
 Sr. 5HTLVM1VPU[=LU[\YL*VTWHU` Latest audited :OHYLZVM1VPU[=LU[\YLZOLSKI`[OL Description 9LHZVU^O` 5L[^VY[OH[[YPI\[HISL :OHYLVM7YVÂ[3VZZ
No. 3PTP[LK Balance Sheet *VTWHU`VU[OL`LHYLUK VMOV^[OLYL QVPU[]LU[\YL to Shareholding as MVY[OL`LHY

248
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PIROJSHA GODREJ MOHIT MALHOTRA

Chairman Managing Director & CEO
).3
 ).3

NOTES FORMING PART OF CONSOLIDATED FINANCIAL STATEMENTS

SURENDER VARMA RAJENDRA KHETAWAT

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GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18

249
GODREJ PROPERTIES LIMITED

NOTICE
Notice is hereby given that the Thirty Third Annual General Meeting (“AGM”) of the members (“Members”) of Godrej Properties Limited
(“Company”) will be held on Thursday, August 02, 2018, at 02:00 p.m. at The Auditorium, Godrej One, Pirojshanagar, Eastern Express Highway,
Vikhroli (East), Mumbai 400 079, to transact the following business:
ORDINARY BUSINESS:

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reports.

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re-appointment.


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Resolution:
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8
7

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<<
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rd

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th (Thirty Seventh) Annual General Meeting (AGM), at such
remuneration as may be mutually agreed upon between them and the Company.”
SPECIAL BUSINESS:

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Special Resolution:
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for the time being in force) (“the Act”) and pursuant to the provisions of the Articles of Association of the Company and subject to
such other approvals as may be required, consent of the Members of the Company be and is hereby accorded for re-appointment of
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Mr. Pirojsha Godrej, on the following terms and conditions:
I. Fixed Compensation:


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The basic salary is `

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II. Performance Linked Variable Remuneration (PLVR):


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7JRZSJWFYNTS
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III. Flexible Compensation:


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Act, as amended (collectively, the “perquisites and allowances”).
These perquisites and allowances may be granted to Mr. Pirojsha Godrej as per the rules of the Company and in the manner as the
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‰
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‰
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‰
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‰
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250
GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18
NOTICE


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‰
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‰
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Explanation:


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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
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time-to-time.
V. Overall Remuneration:


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Schedule V to the said Act as may for the time being, be in force.
VI. Minimum Remuneration:


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Other Terms:


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either side.


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whomsoever or make any use whatsoever, whether for his own or for any other purpose other than that of the Company, any
information or knowledge obtained by him during his employment with the business or affairs or other matters whatsoever of the
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person from disclosing the aforesaid information.


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the Executive Chairman, terminate this appointment, and he shall cease to be the Executive Chairman of the Company, upon
expiration of such notice.
RESOLVED FURTHER THAT approval be and is hereby accorded to make application to Central Government, if necessary, as per
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RESOLVED FURTHER THAT YMJ
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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.”

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Special Resolution:
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for the time being in force) (“the Act”) and pursuant to the provisions of the Articles of Association of the Company and subject to
such other approvals as may be required, consent of the Members of the Company be and is hereby accorded for re-appointment of
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GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18

251
GODREJ PROPERTIES LIMITED

NOTICE
on the following terms and conditions.
I. Fixed Compensation:


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The basic salary is `

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II. Performance Linked Variable Remuneration (PLVR):


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7JRZSJWFYNTS
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III. Flexible Compensation:


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Act, as amended (collectively, the “perquisites and allowances”).
These perquisites and allowances may be granted to Mr. Mohit Malhotra as per the rules of the Company and in the manner as the
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‰
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WZQJX


‰
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‰
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‰
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‰
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‰
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‰
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TK
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‰
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‰
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TK
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‰
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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
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time-to-time.
V. Overall Remuneration:


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252
GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18
NOTICE
time, shall not exceed the limits prescribed from time-to-time under Section 197 and other applicable provisions of the Companies
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either side.

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or make any use whatsoever, whether for his own or for any other purpose other than that of the Company, any information or
knowledge obtained by him during his employment with the business or affairs or other matters whatsoever of the Company, and it
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the aforesaid information.

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RESOLVED FURTHER THAT approval be and is hereby accorded to make application to Central Government, if necessary, as per
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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.”

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the Companies (Audit and Auditors) Rules, 2014 and the Companies (Cost Records and Audit) Rules, 2014 (including any statutory
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all acts and take all such steps as may be necessary, proper or expedient to give effect to this resolution."

By Order of the Board of Directors

For Godrej Properties Limited

Sd/-
Surender Varma
*VTWHU`:LJYL[HY` *OPLM3LNHS6MÂJLY
ICSI Membership No. A10428
Place : Mumbai
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Eastern Express Highway,
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Website: www.godrejproperties.com
Email : secretarial@godrejproperties.com

GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18

253
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
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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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rd AGM.


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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 directors seeking re-appointment under
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8. Members are requested to address all correspondence, including dividend matters, to the Registrar and Share Transfer Agents,
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9. Members who wish to claim dividends, which had remained unpaid are requested to contact the Registrar and Share Transfer Agents,
Karvy. Members are requested to note that the amount of dividend which remains unclaimed for a period of 7 years from the date of such
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corporate governance.

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www.godrejproperties.com. In case you wish to get a physical copy of
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who have received the notice of AGM, Annual Report and Attendance Slip in electronic mode are requested to print the Attendance Slip
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254
GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18
NOTICE

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electronic means or through physical ballot at the AGM (Cut off date). The persons whose names appear on the Register of Members/List
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14. Members who have not registered their e-mail addresses so far, are requested to register their e-mail address with their depository
participants for receiving all communication including Annual Report, Notices, Circulars, etc. from the Company electronically.


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Participants with whom they are maintaining their demat accounts. Members holding shares in physical form can submit their PAN to the
Company / Karvy.


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17. In terms of Section 108 of the Companies Act read with Rule 20 of the Companies (Management and Administration) Rules, 2014 as
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the accompanying Notice. Members can cast their votes on electronic voting system from any place other than the venue of the meeting
(Remote e-voting). The persons who have become the Members of the Company after the dispatch of the Notice and Annual Report and
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with the Notice.

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GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18

255
GODREJ PROPERTIES LIMITED

NOTICE
(ix) Members holding multiple folios / demat accounts shall choose the voting process separately for each of the folios / demat accounts.

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of the above mentioned documents should be in the naming format “Corporate Name_EVENT NO.”

(b) Members receiving physical copy of the Notice [For Members whose email IDs are not registered with the Company/
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(i) Initial Password is provided, as follows, at the bottom of the Attendance Slip.

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(E-Voting Event Number)
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(ii) Please follow all the steps from Sr. No (ii) to (xiii) above, to case vote.

(c) In case a person has become a Member of the Company after dispatch of AGM Notice but on or before the Cut-Off date for
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Member as on the Cut off date should treat this Notice for information purpose only. The remote evoting module shall be disabled for
voting thereafter. Once the vote on a resolution is cast by the Members, the Members shall not be allowed to change it subsequently.

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or email at evoting@karvy.com.

256
GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18
NOTICE
(iii) The voting rights of the Members shall be in proportion to the paid-up value of their shares in the equity capital of the Company as
on Cut off date.

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in favour or against, if any, and forward it to the Chairman of the Company.

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clarity, please note that the Members who have exercised their right to vote by electronic means may attend the AGM but shall not
be entitled vote at the Meeting. A Member can opt for only single mode of voting i.e. either through remote e-voting or voting at the
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(vii) The Results of e-voting and poll voting at the meeting on resolutions shall be aggregated and declared on or after the AGM of the
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18. Route map showing directions to reach venue of the AGM is given at the end of the Annual Report.

EXPLANATORY STATEMENT PURSUANT TO SECTION 102 OF THE COMPANIES ACT, 2013

ITEM NO. 4:

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the re-designation of Mr. Pirojsha Godrej as Executive Chairman with effect from April 01, 2017.

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Accordingly, the approval of the Members of the Company is sought for re-appointment including remuneration payable to Mr. Pirojsha Godrej
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The above may be treated as a written memorandum setting out the terms of re-appointment of Mr. Pirojsha Godrej as Executive Chairman
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Nature of concern or interest of Directors:

None of the other directors and/or key managerial personnel of your Company and their relatives, except Mr. Adi Godrej, Mr. Pirojsha Godrej, are
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in the resolution to the extent of their shareholding in the Company.

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ITEM NO. 5

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GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18

257
GODREJ PROPERTIES LIMITED

NOTICE
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issued by Institute of Company Secretaries of India are attached to the Notice.

Accordingly, the approval of the Members of the Company is sought for re-appointment including remuneration payable to Mr. Mohit Malhotra
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Nature of concern or interest of Directors:

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provisions of Section 148 of the Companies Act read with the Companies (Audit and Auditors) Rules, 2014, the remuneration payable to the
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in the above Resolution.

Pursuant to Regulation 36(3) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 and Secretarial
Standards issued by The Institute of Company Secretaries of India, the following information is furnished about the Directors
proposed to be re-appointed/appointed.

Brief Resume of the Directors

Name of the Mr. Nadir B. Godrej Mr. Pirojsha Godrej Mr. Mohit Malhotra
Director
Particulars (DIN: 00066195) (DIN: 00432983) (DIN: 07074531)
Age   40
Nationality Indian Indian Indian
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258
GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18
NOTICE
Name of the Mr. Nadir B. Godrej Mr. Pirojsha Godrej Mr. Mohit Malhotra
Director
Particulars (DIN: 00066195) (DIN: 00432983) (DIN: 07074531)
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Conditions of re- Notice Notice
appointment/
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remuneration
Remuneration Kindly refer the Corporate Kindly refer the Corporate Kindly refer the Corporate
last drawn Governance Report Governance Report Governance Report
Directorships ‰

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GODREJ PROPERTIES LIMITED ANNUAL REPORT 2017-18

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GODREJ PROPERTIES LIMITED

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 PROXY FORM


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Email: secretarial@godrejproperties.com website: www.godrejproperties.com

Form No. MGT-11

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Name of the Member

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I/We, being the member (s) of .............................................. shares of the above named company, hereby appoint:-

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as my/our proxy to attend and vote (on a poll) for me/us and on my/our behalf at the Annual General Meeting of the Company, to be
held on Thursday, August 02, 2018 at 2:00 p.m. at Godrej One, The Auditorium, Pirojshanagar, Eastern Express Highway, Vikhroli (East) ,
Mumbai - 400 079 and at any adjournment(s) thereof in respect of such resolutions as are indicated below:

Resolution Nos. :-

Sr. Resolutions Optional (see note 2)

No
For Against Abstain
ORDINARY BUSINESS
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4. Re-appointment of Mr. Pirojsha Godrej as the Executive Chairman and revision in
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Note:

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48 hours before the commencement of the Meeting.


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proxy will be entitled to vote in the manner as he / she may deem appropriate.
 VENUE OF THE MEETING
The Auditorium, Godrej One,
Pirojshanagar, Eastern Express Highway, Vikhroli (East), Mumbai 400 079.
NOTES
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 3rd Floor,
Sudharsan Buildings,
Old No. 86/5,
New No. 92/5,
Chamiers Road,
Opp. to Hotel
Sheraton Park,
Chennai - 600 018

The images included in the Annual Report are relating to the following projects:

PROJECT RERA REGISTRATION NUMBER RERA WEBSITE

Godrej Elements P52100016626 https://maharera.mahaonline.gov.in/
Godrej Alive A P51700010303
Godrej Alive B P51700005281
Godrej Alive C P51700009993
Godrej Alive E P51700009992
Godrej Vihaa Phase 1 P51700002689
Godrej Vihaa Phase 2 P51700002442
Sky Gardens at Godrej Vihaa P51700013329
Godrej Vihaa Phase 5 P51700008346
The Trees, Residential Phase 1 P51800000165
The Trees Residential Phase 2 P51800000161
The Trees, Origins P51800000158
Godrej Prime P51800000519
Godrej Tranquil P51800000812
Godrej Meridien Phase 1 RC/REP/HARERA/GGM/2018/05 www.harera.in
Godrej Meridien Phase 2 RC/REP/HARERA/GGM/2018/06
Godrej Nature Plus Phase 1 Regn No. 18 of 2018 dated 30.01.2018
*RGUHM5HÀHFWLRQV3KDVH PRM/KA/RERA/1251/446/PR/180329/002843 http://rera.karnataka.gov.in
Godrej Nest Phase 1 UPRERAPRJ13521 http://www.up-rera.in/
Godrej Nest Phase 2 UPRERAPRJ14252