Godrej Properties Announces Board Changes, Dividend, and Strategic Fund-Raising Plans

Godrej Properties unveils major board updates, including Nadir Godrej's retirement and a strategic Rs 3,000 crore fund-raising plan. A Rs 10 per share dividend awaits shareholder approval at the upcoming AGM. The 41st AGM is scheduled for August 2026, with the record date set for July 28.

Godrej Properties Ltd announced significant board-level changes on Monday, including a recommendation of a Rs 10 per equity share dividend, equating to 200% of the face value of Rs 5 each for the fiscal year ending March 31, 2026. This proposal awaits approval at the forthcoming Annual General Meeting (AGM).

The company revealed plans for its 41st AGM to be held on August 4, 2026, with July 28 set as the record date for determining eligible shareholders. The Board noted the impending retirement of Nadir Godrej from his position as Non-Executive Non-Independent Director, effective at the AGM’s conclusion, citing his age as a deciding factor.

Moreover, the Board has approved the possibility of raising up to Rs 3,000 crore through debt instruments like Non-Convertible Debentures on a private placement basis. A designated Committee of Directors will oversee the specifics of this fundraising initiative, including timing, terms, and conditions.