Godrej Properties seeks waiver for excess executive pay

Godrej Properties Limited has filed its Integrated Annual Report for the financial year 2025-26 and issued a notice convening its 41st Annual General Meeting (AGM), scheduled to be held on Tuesday, August 04, 2026, at 2:30 p.m. (IST) through Video Conferencing (VC) / Other Audio Visual Means (OAVM). The filing was made on July 08, 2026, in compliance with Regulations 30, 34, and 53 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The Board has recommended a dividend of ₹10 per equity share (200% of face value of ₹5 each) for the financial year ended March 31, 2026, subject to shareholder approval, with a record date of Tuesday, July 28, 2026.

Financial Performance and Business Development

FY 2025-26 marked a record-breaking year for the company across booking value, collections, earnings, and business development. The company reported a consolidated Profit After Tax of ₹1,850 crore, a 32% increase year-on-year, while Total Income stood at ₹8,374 crore. Customer collections reached ₹19,965 crore, and operating cash flow was ₹7,830 crore. The company sold 17,513 units totalling 27 million sq. ft., achieving the highest-ever booking value of ₹34,171 crore by any Indian real estate developer in a financial year. Business development added 18 new projects spanning 33.32 million sq. ft. with an estimated revenue potential of approximately ₹42,100 crore.

Metric	FY 2025-26	YoY Growth
Booking Value	₹34,171 crore	16%
Customer Collections	₹19,965 crore	17%
Total Income	₹8,374 crore	22%
Profit After Tax	₹1,850 crore	32%
Net Worth	₹19,156 crore	11%

Agenda for the 41st AGM

The AGM agenda includes the adoption of audited financial statements and the declaration of dividend. Special business items require shareholder approval for the waiver of recovery of excess managerial remuneration paid to Mr. Pirojsha Godrej, Executive Chairperson, for FY 2025-26. The remuneration paid was ₹24.55 crore, which exceeds the limits prescribed under the Companies Act, 2013 by ₹21.76 crore when computed based on standalone net profits. The Board has justified this waiver citing the company's record consolidated performance and the Executive Chairperson's strategic contributions.

Shareholders will also vote on the ratification of remuneration payable to Cost Auditors, M/s. R. Nanabhoy & Co., for FY 2026-27, fixed at ₹1.55 lakh, exclusive of taxes and expenses. Additionally, approval is sought for the payment of commission to Non-Executive Directors (including Independent Directors) at ₹50,00,000 per annum for FY 2025-26. The Board has also recommended not filling the vacancy caused by the retirement of Mr. Nadir Godrej, who is attaining the age of 75 years.

Governance and Sustainability

Godrej Properties maintained its leadership in sustainability, ranking #1 globally among residential developers in the GRESB 2025 assessment with a perfect score of 100/100. The company advanced to the top 1% of companies globally in the Real Estate Management sector in the S&P Global Dow Jones Best-in-Class Indices 2026. All 84 group housing projects within the reporting boundary are certified or under certification under recognised green building rating systems. The remote e-voting period commences on Thursday, July 30, 2026, at 9:00 a.m. (IST) and ends on Monday, August 03, 2026, at 5:00 p.m. (IST).

Source: https://lodr-files.dhan.co/lodr-inputs/Company/INE484J01027/d2d3f6f1-69ce-466f-b7cb-c458b42e02dd.pdf

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
-3.11%	+6.05%	+19.64%	-7.42%	-13.90%	+33.56%

Godrej Properties received a penalty of Rs 10,00,000 from the Chhattisgarh Real Estate Regulatory Authority (CGRERA), Raipur, for an alleged contravention of the Real Estate (Regulation and Development) Act, 2016. The order, dated June 08, 2026, was received by the company on July 03, 2026. The penalty was imposed under Section 3(1) read with Section 59 of the Act, relating to the advertisement of "Project – Greenvale Estate" prior to obtaining RERA registration.

The company disclosed that the advertisements in question were not issued or authorized by it but were circulated by third parties without its knowledge or consent. It stated that these parties allegedly misused the "Godrej" brand name. Upon becoming aware of the instances, the company initiated legal measures and takedown actions to prevent continued misuse. The company also noted that it obtained the registration certificate for the project from CGRERA on June 25, 2026.

Regulatory Disclosure Details

The disclosure was made to BSE Limited and The National Stock Exchange of India Limited in compliance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015. The specific reference cited includes SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026. The following table summarises the key details of the regulatory action:

Sr. No.	Particulars	Details
1.	Name of the Authority	Chhattisgarh Real Estate Regulatory Authority ("CGRERA"), Raipur
2.	Nature and details of the action(s) taken	Penalty – Rs. 10,00,000 (Rupees Ten Lakh only)
3.	Date of receipt of direction or order	July 03, 2026
4.	Details of the violation(s)/contravention(s)	Alleged contravention of Section 3(1) of the Real Estate (Regulation and Development) Act, 2016 arising from the advertisement of "Project – Greenvale Estate" prior to obtaining RERA registration.
5.	Impact on financial, operation or other activities	No material impact on financial, operational or other activities of the Company.

Godrej Properties is evaluating appropriate legal remedies against the order in accordance with applicable law. The company confirmed that the penalty does not have a material impact on its financial, operational, or other activities.