Valor Estate filed its Business Responsibility and Sustainability Report (BRSR) for FY26 on September 8, 2026. The filing marks a structural shift in reporting scope following the demerger of the company's hospitality business into Advent Hotels International Limited, which became effective on July 1, 2025.

The revised reporting boundary now covers only the real estate development segment, comprising Valor Estate Limited and six selected subsidiaries or joint ventures. Consequently, year-on-year comparisons with FY25 disclosures are not directly comparable, as the prior year included both real estate and hospitality operations.

Operational Scope and Governance

The company reported a turnover of ₹1,56,788.43 lakhs and a net worth of ₹5,18,565.87 lakhs for the period. CSR spending under Section 135 of the Companies Act, 2013 was not applicable during the year.

Governance oversight for sustainability matters remains with Vice Chairman and Managing Director Shahid Balwa. The company has not constituted a dedicated board committee for sustainability issues nor established formal time-bound ESG targets. The Audit and Risk Management Committee reviews performance against policies periodically.

Environmental Metrics

Environmental data reflects the absence of active construction projects during the reporting period. Total energy consumption from non-renewable sources fell to 2,388.32 GJ in FY26, down significantly from 99,684.43 GJ in FY25. Similarly, total water withdrawal dropped to 12,942 kilolitres compared to 288,502.71 kilolitres in the previous year.

Greenhouse gas emissions also declined sharply. Total Scope 1 emissions were recorded at 57.76 metric tonnes of CO2 equivalent, a decrease from 1,552 metric tonnes in FY25. Scope 2 emissions stood at 314.15 metric tonnes of CO2 equivalent. No air emissions associated with construction operations were reported due to the lack of active site activities.

Social and Employee Data

The workforce consisted of 208 permanent employees, with women representing 7.69% of the total headcount. The employee turnover rate for permanent staff was 11.37% in FY26, down from 25.54% in FY25. All permanent employees received training on health and safety measures and skills upgradation.

Customer grievances remained a significant volume driver, with 6,839 complaints filed during the year, leaving 595 pending resolution at year-end. This compares to 5,394 complaints filed and 1,992 pending in FY25.

What the Numbers Show

The drastic reduction in environmental metrics—energy, water, and emissions—is directly attributable to the cessation of active construction activities during FY26 rather than improved efficiency per unit of output. With no active construction projects, the company generated negligible waste and recorded zero safety incidents among employees, highlighting a pause in physical development operations while maintaining administrative functions.

Valor Estate has scheduled its 20th Annual General Meeting for September 30, 2026. The meeting will convene via video conference to transact ordinary business items, including the adoption of audited financial statements for FY26.

The company seeks shareholder approval for the re-appointment of Mr. Vinod Goenka as a director retiring by rotation. Additionally, shareholders will vote on the appointment of M/s. Mehta Chokshi & Shah LLP as the new statutory auditors.

Auditor Appointment Details

The term of the existing statutory auditors, M/s. N. A. Shah Associates LLP, concludes at this AGM. The Board recommends appointing M/s. Mehta Chokshi & Shah LLP for a first term of five consecutive years, extending until the conclusion of the 25th AGM in 2031.

The proposed annual audit fees for the new firm are set at ₹55,50,000 plus applicable taxes. This amount covers standalone and consolidated audits along with limited reviews. The fee structure remains unchanged from the remuneration paid to the outgoing auditors.

Director Re-appointment

Mr. Vinod Goenka, the Chairman cum Managing Director, offers himself for re-appointment. He has served on the board since the company's incorporation in January 2007. His current remuneration package stands at ₹4.50 crore per annum, approved via postal ballot in July 2026.

E-Voting Schedule

Remote e-voting opens on September 27, 2026, at 9:00 am and closes on September 29, 2026, at 5:00 pm. Shareholders holding shares as on the cut-off date of September 23, 2026, are eligible to cast their votes electronically through the NSDL e-voting system.