Climate Change Data

Environmental Metrics

ESG Focus Areas

• Water sustainability
• Employment
• Health
• Safety
• Environment protection
• Economic Performance
• Community development

Environmental Achievements

• Improved water use efficiency across operations, becoming 'Water Positive' with a water index of 1.56
• Conserved 735 million liters of water through a community-based water conservation intervention
• Reduced cement requirement and carbon footprint of concrete mix by using alternate cementing materials (fly ash, slag, micro silica)
• Optimized resource use and reduced wastage through software like 'Most3D' and make-to-order procurement

Social Achievements

• Launched Proactive Safety Observation Programme and Behaviour Based Safety programme, resulting in a paradigm shift in safety observation at project sites
• Achieved a customer satisfaction index of 4.1
• Engaged in various community initiatives in health, water, disaster response, and social initiatives near project sites (blood and blanket donations, school support, sports and cultural activities, flood victim support)

Governance Achievements

• Established an Audit Committee to oversee financial reporting and disclosure
• Implemented a Code of Conduct covering ethics, transparency, and accountability for all employees and Non-Executive Directors
• Implemented a formalized customer feedback system

Climate Goals & Targets

Environmental Challenges

• Challenging business environment for the construction industry, including legacy issues of holding back legitimate payments and liquidity crisis
• Slowdown in orders and large cost overruns in stalled projects

Mitigation Strategies

• Realigned business strategy to focus on capital conservation, higher productivity, and increased cash generation
• Monetized non-core assets and land parcels to improve cash flow
• Streamlined processes to improve efficiency and cost optimization

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Development of local vendors
• Make-to-order procurement with tight tolerances
• Use of automatic nesting software to reduce steel wastage

Climate-Related Risks & Opportunities

Physical Risks

• Not disclosed

Transition Risks

• Not disclosed

Opportunities

• Not disclosed

Reporting Standards

Frameworks Used: GRI G4 (Core option), UN Global Compact’s CEO Water Mandate, National Voluntary Guidelines on Social, Environmental and Economic Responsibilities of Business (NVGs)

Certifications: ISO 14001:2004, ISO 9001:2008, BS OHSAS 18001:2007

Third-party Assurance: Ernst & Young LLP (limited assurance)

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• Eco-friendly concrete technology

Awards & Recognition

• Infrastructure Company of the Year Award
• Water Project of the Year Award
• QCI D.L. Shah Quality Award
• Dun & Bradstreet Infra awards
• Best Concrete Structure of the year
• CIDC Vishwakarma Awards
• Best CSR Practices Award
• CIDC Achievement Award

Environmental Metrics

ESG Focus Areas

• Economic Performance
• Environmental Performance
• Social Performance
• Governance

Environmental Achievements

• Reduced GHG emission by 1817 ton CO2eq by using more grid supply at various projects.
• Conserved more than 1000 million water liters through water use efficiency and community-based water conservation.
• Maintained Water Positive status for the sixth consecutive year.

Social Achievements

• Achieved 48.6 million safe man-hours across project sites.
• Implemented Project Incentive Scheme to align project site employees with project goals.
• Provided necessary support to local communities during COVID19 lockdown and floods.

Governance Achievements

• Completed the Indian Navy’s largest drydock in Mumbai.
• Completed the entire length of twin tunnels using TBMs on Mumbai Metro Line 3.
• Completed two crucial projects in Delhi: Dwarka-Najafgarh Corridor and Rao Tula Ram flyover.

Climate Goals & Targets

Environmental Challenges

• Challenging financial situation exacerbated by COVID-19 lockdown, leading to labor shortages, supply chain disruptions, and tighter working capital conditions.

Mitigation Strategies

• Focus on making the balance sheet lighter and improving cash flows; driving organizational change for operational robustness.
• Raising capital via monetization of assets and debt/asset carve-out.
• Initiated a resolution plan with lenders to deleverage the company.

Supply Chain Management

Supplier Audits: Not disclosed

Responsible Procurement

• Sustainable supply chain and material management
• Procuring material locally
• Sustainable partnerships with business partners
• Preference given to ISO 14001 and ISO 45001/OHSAS 18001 certified suppliers

Climate-Related Risks & Opportunities

Physical Risks

• Not disclosed

Transition Risks

• Not disclosed

Opportunities

• Not disclosed

Reporting Standards

Frameworks Used: GRI Standards: Core Option, UN Global Compact’s CEO Water Mandate

Certifications: ISO 45001:2018

Third-party Assurance: Thinkthrough Consulting Pvt. Ltd. (TTC)

UN Sustainable Development Goals

• Not disclosed

Not disclosed

Sustainable Products & Innovation

• Not disclosed

Awards & Recognition

• 1st runner up award in Construction Category of Corporate BBS Awards
• National Safety Award for Rajasthan Atomic Power Project Unit 7 & 8
• Runner up award for Lowest Average Frequency Rate for Sawalkote Access Tunnel Project
• Appreciation certificates from DMRC and Ministry of Labor & Human Resources, Royal Govt. of Bhutan
• Bogibeel Rail cum road bridge awards
• MoRTH awards

Environmental Metrics

ESG Focus Areas

• Water sustainability
• Minimizing construction waste
• Employee health and safety
• Community development

Environmental Achievements

• Water Positive status for the ninth consecutive year
• Significant reduction in freshwater use, higher water-use efficiency, and significant return of adequately treated water to the natural environment
• Reduction in CO2 impact by Using supplementary cementitious materials in concrete
• GHG emission of 11252.43 Ton CO2eq saved due to usage of fly ash and GGBS instead of cement.

Social Achievements

• Attrition rates are falling yearly
• 6,310 man-hours learning hours through various online and offline training initiatives
• Increased intake of fresh graduates and postgraduates from campus
• Highest retention rate of campus hires

Governance Achievements

• Successful oversubscription of its Rights Issue offering, raising `350 crore in April 2024
• Accelerated deleveraging plan
• Successful sale of its construction business subsidiary, Steiner Construction SA

Climate Goals & Targets

Environmental Challenges

• Geopolitical uncertainty impacting inflation, interest rates, and the supply chain
• High demand for construction manpower
• Inflationary pressures impacting project cash flows and performance

Mitigation Strategies

• Built appropriate cash buffers
• Successfully completed its Rights Issue offering of `350 crore
• Selectively engaging with clients for out-of-court settlements to unlock disputed receivables
• Accelerated deleveraging plan

Supply Chain Management

Supplier Audits: 100%

Responsible Procurement

• Supplier/Vendor Code of Conduct (COC)

Climate-Related Risks & Opportunities

Reporting Standards

Frameworks Used: GRI

Certifications: ISO 9001:2015, ISO 14001:2015, ISO 45001:2018

Third-party Assurance: BDO India

Sustainable Products & Innovation

• Monopile design
• supplementary cementitious materials in concrete
• natural boulders instead of artificial tetrapods

Awards & Recognition

• 2nd National Quality Innovation Award
• Certificate of Appreciation
• Safety Innovation Awards 2023
• Certificate of Appreciation
• Certificate of Appreciation
• Certificate of Appreciation
• Certificate of Appreciation