Climate Change Data

Environmental Metrics

ESG Focus Areas

• Corporate Social Responsibility

Environmental Achievements

• Use of energy efficient lamps, LED light fixtures, External LED light for street lighting with timers. Use of best quality wires, cables etc. Use of colour codes, independent neutral and earthing to prevent energy leakage. Provision of star rating, energy efficient Level 2 distribution transformers. Connected automatic power factor correction panels.

Social Achievements

• Several initiatives to support employees and their families during the pandemic.

Governance Achievements

• The Company is committed to benchmarking itself with best practices of Corporate Governance. It has put in place an effective Corporate Governance system which ensures that provisions of the Act and SEBI Listing Regulations are duly complied with, not only in letter but also in spirit.

Climate Goals & Targets

Environmental Challenges

• The second wave of COVID-19 pandemic caused disruptions in the economy as a whole and impacted the Indian Real Estate Industry as well. It presented an unprecedented challenge to public health, food systems and the economy as a whole. This pandemic led to loss of human life and suffering worldwide. The economic and social disruption caused by the pandemic was devastating. In the first quarter of FY 2021-22, several State Governments announced lockdowns to prevent the spread of COVID-19. This led to the curtailment of economic activity. Due to COVID-19 pandemic and continued recession in the real estate sector owing to slowdown in demand, the Company is facing tight liquidity situation as a result of which there have been delays/defaults in payment of principal and interest on borrowings, statutory liabilities, salaries to employees and other dues. Also, the Company continues to face lack of adequate sources of finance to fund execution and completion of its on-going projects resulting in delayed realisation from its customers and lower availability of funds to discharge its liabilities.
• Input cost inflation due to rising steel, cement and labour prices putting further strain on the financials.
• Rising cost of funds due to increase in benchmark rates by central banks.

Mitigation Strategies

• Once lockdown restrictions were eased, the economy started witnessing a strong recovery. The health and safety of its employees and stakeholders remained the top priority for the Company, with several initiatives to support employees and their families during the pandemic.
• The Company is continuously exploring alternate sources of finance, including sale of non - core assets to generate adequate cash inflows for meeting these obligations and to overcome this liquidity crunch.
• Tight control of in-house project deliveries and limit use of outsourcing for execution.
• Long-term supplier relationships to ensure optimal cost and superior quality of raw materials.
• Effective supply chain and inventory management practices to minimize waste and storage costs.
• Consistent and single-minded focus on faster execution to ensure on or before-time delivery of projects. Project-based organization structures and allocation of resources to ensure no delays to maintain this focus.
• Outsource execution and engage external expertise, while keeping cost objectives in mind, if necessary to expedite execution.
• Project management training and capability development to ensure availability of the best-in- class execution talent.
• Constant review of liquidity position and fund requirements to be on-top of fund requirements and availability.
• Balance the project portfolio with projects generating a regular revenue stream, for e.g., commercial leasing, BOT projects and projects with lower capital requirements and fee-based income, for e.g., third-party contracts to keep a check on fund requirements and ensure liquidity.
• Monetize non-core assets.
• RERA-compliant capital allocation process for each project.
• Raise long-term debt / capital to reduce cost of capital. Maintain banking relationships to have in place adequate fund-based/non-fund-based credit lines.
• Dedicated compliance teams at project levels to manage local approvals.
• Develop a company-wide culture of no compromise on regulatory compliance.
• Invest in HRM capabilities and company-wide talent development.
• Implement best-in-class HR policies for Recruitment, Compensation and Employee Engagement.
• Develop a Company culture through leadership to create a positive work environment.
• Maintain relationships with a sizeable number of contractors to ensure availability of labour in adequate numbers.

Supply Chain Management

Responsible Procurement

• Long-term supplier relationships to ensure optimal cost and superior quality of raw materials.

Climate-Related Risks & Opportunities

Environmental Metrics

Climate Goals & Targets

Environmental Challenges

• Delay in project execution due to various internal and external factors
• Longer project gestation period leading to more capital invested in projects and possible cost escalation
• Tight liquidity situation resulting in delays/defaults in payment of principal and interest on borrowings, statutory liabilities, salaries to employees and other dues

Mitigation Strategies

• Focus on improving balance sheet strength by reducing debt and strengthening balance sheet
• Execution focus on timely and quality delivery of ongoing projects
• Collaborative growth opportunities by partnering with like-minded players
• Asset monetization of non-core and non-viable assets
• Due diligence at project planning stage for effective capital allocation
• Improve regularity of cash flow and overall liquidity by pursuing revenue from leasing, BOT projects or 3rd party fee-based contracts
• Reduce cost of capital by choosing long-term debt/capital over short-term financing

Supply Chain Management

Climate-Related Risks & Opportunities