Climate Change Data

Environmental Metrics

Climate Goals & Targets

Environmental Challenges

• Numerous litigations by homebuyers and other stakeholders.
• Global supply chain disruptions leading to inflation.
• Challenges in meeting operational obligations and servicing liabilities.
• Stalled/slowed down projects.
• Cancellation of lease deed notice from GNIDA.
• Pending litigations before various forums.
• Non-compliance with various regulations (e.g., AGM delays, filing delays).
• Lack of physical verification of PPE.
• Unaudited accounts of foreign subsidiaries.
• Non-existence of impairment study and expected credit loss policy.
• Inability to correctly map maintenance charges.
• Delays in payment of dues to lenders.

Mitigation Strategies

• Appointment of an independent Board of Directors.
• Exploring various options for project completion and revenue generation.
• Seeking reliefs and waivers of penalties from MCA and SEBI.
• Filing an IA in the Supreme Court for requisite reliefs.
• Engaging Project Management Consultants (PMCs) for project assessment.
• Floating tenders for project completion.
• Developing an Expected Credit Loss Policy.
• Initiating reconciliation of outstanding balances.
• Filing an IA in the Supreme Court for recovery of invested amounts.
• Addressing the mapping of maintenance charges with concerned RWAs.
• Submitting Resolution Framework (RF) to the Supreme Court.

Supply Chain Management

Climate-Related Risks & Opportunities

Environmental Metrics

ESG Focus Areas

• Environmental
• Social
• Governance

Governance Achievements

• Appointed a new Board of Directors in January 2020 as per Supreme Court order.

Climate Goals & Targets

Environmental Challenges

• Numerous litigations from homebuyers and stakeholders.
• Stalled projects.
• Financial constraints.
• High cost of construction materials.
• Labor availability issues.
• Non-compliances with debt covenants.
• Unpaid statutory dues.
• Pending reconciliation of various accounts.

Mitigation Strategies

• Submitted a Resolution Framework (RF) to the Supreme Court.
• Floated tenders for project completion.
• Conducted health and safety audits of buildings.
• Exploring various options for project completion and revenue generation.
• Working on obtaining statutory approvals for projects.
• Appointing Internal Auditors.

Supply Chain Management

Responsible Procurement

• Prioritizes local sourcing of raw materials.

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: NVG-SEE

Third-party Assurance: Not Applicable