Godrej Properties Limited's Nomination and Remuneration Committee has approved new stock option grants while simultaneously noting the lapse of previously issued grants under its Employee Stock Grant Scheme. The committee meeting, held on February 05, 2026, addressed both the allocation of fresh options and the formal recording of lapsed grants.

Stock Option Grant Details

The committee approved the grant of 152 stock options to an eligible employee under the GPL Employee Stock Grant Scheme (GPL ESGS). These grants comply with the Securities and Exchange Board of India (Share Based Employee Benefits and Sweat Equity) Regulations, 2021.

Each stock option entitles the holder to apply for one equity share of the company with a face value of ₹5. The options will vest over a period of three years and must be exercised within one month from the date of vesting, though the Nomination and Remuneration Committee may determine alternative exercise periods.

Lapsed Stock Grants

The committee formally noted the lapse of 1954 stock grants that were previously issued under the GPL ESGS to eligible employees. The lapse of these grants means the affected employees have forfeited all rights to claim any portion of these stock options.

Committee Meeting Details

The Nomination and Remuneration Committee meeting commenced at 10:00 a.m. and concluded at 10:45 a.m. on February 05, 2026. The decisions were made pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The intimation was signed by Ashish Karyekar, Company Secretary, and communicated to both BSE Limited and the National Stock Exchange of India Limited as per regulatory requirements.

Godrej Properties Limited has achieved a remarkable milestone with the launch of its premium plotted development, Evora Estate, in Panipat. The company announced record land sales valued over ₹1,000 crore, marking its most successful plotted development launch by sales value to date.

Record-Breaking Sales Performance

Since its launch in December 2025, Evora Estate has demonstrated exceptional market response with impressive sales figures:

Project Overview and Strategic Location

Evora Estate represents Godrej Properties' strategic expansion into the Panipat market. The development spans 43 acres and is strategically positioned on NH 44A, offering excellent connectivity and accessibility. The project features a refined Mediterranean theme, complete with a luxurious clubhouse and premium lifestyle amenities designed to cater to discerning homebuyers.

This marks the company's fourth addition to its portfolio of residential plotted townships in North India, demonstrating its continued focus on expanding its presence in emerging markets across the region.

Market Positioning and Infrastructure Development

Panipat's emergence as an attractive residential destination has been driven by sustained infrastructure improvements. The city has benefited from enhanced connectivity via NH-44 and a strengthened transport and industrial network. These developments are positioning Panipat as a promising residential catchment in North India, contributing to the strong market response for Evora Estate.

Management Commentary

Gaurav Pandey, MD & CEO of Godrej Properties, expressed satisfaction with the project's reception: "We are deeply encouraged by the response to Evora Estate, our first plotted development in Panipat. This milestone reinforces our belief that customers across emerging markets are seeking thoughtfully designed neighbourhoods that offer long-term value and a meaningful quality of life."

He further emphasized the company's commitment to expansion in Haryana, stating that their focus will remain on creating high-quality, sustainable living environments that contribute positively to the communities they serve.

Company's Market Leadership

Godrej Properties continues to maintain its position as a leading real estate developer in India. In FY 2025, the company retained its position as India's largest developer by the value of residential sales achieved. The company has received over 500 awards and recognitions in recent years, including Developer of the Year at the GRI India Awards 2024 and various sustainability rankings from global benchmarking organizations.