Godrej Properties Ltd announced on Monday a series of board decisions taken at its meeting held earlier in the day, including a dividend recommendation and key changes in its board composition. The Board has recommended a dividend of Rs 10 per equity share, representing 200 percent on the face value of Rs 5 each, for the financial year ended March 31, 2026. The proposal is subject to shareholder approval at the 41st Annual General Meeting scheduled for August 4, 2026. The company has fixed July 28, 2026 as the record date to determine eligible shareholders. If approved, the dividend will be paid before September 3, 2026.

In a significant board update, the company noted the retirement of Nadir Godrej from the Board. The Nomination and Remuneration Committee and the Board acknowledged his resignation letter confirming his decision to step down as Non-Executive Non-Independent Director effective at the conclusion of the AGM. He stated he would turn 75 in August 2026 and expressed confidence in the company’s leadership to continue creating long term value.

The Board placed on record its appreciation for his guidance, strategic direction, and contribution during his tenure. The Board approved an enabling resolution to raise up to Rs 3000 crore through non convertible debentures, bonds, or other debt securities on a private placement basis in multiple tranches. A committee has been authorized to decide the timing, amount, and terms of the issuance.

These decisions reflect the company’s continued focus on rewarding shareholders while strengthening its financial flexibility for future growth opportunities. The management reiterated its commitment to sustainable expansion and disciplined capital allocation across its real estate portfolio aiming to enhance long term shareholder value creation.