Godrej Properties Board Seeks Shareholder Waiver of ₹21.76 Crore Excess Remuneration Paid to Executive Chairperson Pirojsha Godrej

Board Seeks Shareholder Approval for Remuneration Waiver

Godrej Properties Limited has scheduled its 41st Annual General Meeting for August 4, 2026, via video conferencing. The Board seeks shareholder approval to waive the recovery of excess managerial remuneration of ₹21.76 crore paid to Executive Chairperson Mr. Pirojsha Godrej.

Remuneration Details and Legal Basis

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.

FY2026 Performance Context

The company achieved its highest-ever booking value of ₹34,171 crore and a consolidated net profit of ₹1,850 crore, a 32% year-on-year increase. For the third consecutive year, the company emerged as the nation's largest residential developer by booking value, achieving the highest annual booking value and volume ever recorded by a listed Indian real estate player.

The company sold 17,515 units covering 27 million square feet, achieving its highest annual booking value and reaching 105 per cent of guidance. Financial liquidity also reached unprecedented levels, with FY2026 collections growing 17% to Rs 19,965 crore—the highest annual collection figure reported by any Indian developer to date.

AGM Agenda and Other Items

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. The company has fixed July 28, 2026, as the record date to determine eligible shareholders.

The remote e-voting window is slated to open at 9:00 a.m. IST on Thursday, 30th July 2026, and will close at 5:00 p.m. IST on Monday, 3rd August 2026.

About Godrej Properties

Godrej Properties Limited is an Indian real estate company headquartered in Mumbai. Since 2012, the company has been led by Executive Chairman Pirojsha Adi Godrej, a fourth-generation member of the Godrej family, who joined the Godrej Group in 2004.

Godrej Properties was established in 1990 as the real estate development arm of the Godrej Group, an Indian conglomerate founded in 1897 by Ardeshir Godrej. Headquartered in Mumbai, the company is a subsidiary of Godrej Industries Group and is listed on both the BSE and NSE following its 2010 initial public offering.