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Godrej Properties Board Approves Rs 10 Dividend, Nadir Godrej to Retire

Godrej Properties board has recommended a dividend of Rs 10 per equity share for FY26, subject to shareholder approval at the upcoming AGM. The 41st AGM is scheduled for August 4, 2026, with a record date of July 28 for dividend eligibility. Nadir Godrej will retire as Non-Executive Non-Independent Director effective from the conclusion of the AGM, citing his age of 75. Additionally, the board approved a resolution to raise up to Rs 3,000 crore through debt instruments on a private placement basis.

Key Points: Godrej Properties Rs 10 Dividend, Nadir Godrej Retirement

  • Board recommends Rs 10 dividend per share for FY26
  • Nadir Godrej to retire from board at Aug 4 AGM
  • Record date for dividend set as July 28, 2026
  • Board approves raising up to Rs 3,000 crore via debt instruments
2 min read

Godrej Properties board approves Rs 10 dividend, notes Nadir Godrej's retirement ahead of Aug 4 AGM

Godrej Properties board recommends Rs 10/share dividend, notes Nadir Godrej's retirement ahead of Aug 4 AGM, and approves Rs 3,000 crore debt fundraising plan.

"I will turn 75 in August 2026. I am writing to share with you my intent to step down... - Nadir Godrej"

New Delhi, May 4

Godrej Properties Ltd on Monday announced key board-level changes alongside a dividend recommendation for shareholders, following the outcome of its Board meeting held earlier in the day.

The company said its Board has "recommended dividend of Rs 10 per equity share (200%) of the face value of Rs 5 each for the financial year ended March 31, 2026," subject to shareholder approval at the upcoming Annual General Meeting (AGM).

According to the exchange filing, the 41st AGM is scheduled to be held on August 4 this year. The company has fixed July 28, 2026, as the record date to determine eligible shareholders. It added that "the dividend, as recommended by the Board of Directors and if declared at the ensuing Annual General Meeting, will be paid to eligible shareholders before Thursday, September 03, 2026."

In a significant boardroom development, the company also took note of the retirement of Nadir Godrej from its Board. The filing stated that the Nomination and Remuneration Committee and the Board "took note of the letter received from Mr. Nadir Godrej to retire and step down as the Non-Executive Non-Independent Director of the Company" effective from the conclusion of the upcoming AGM.

Nadir Godrej, in his letter to the Board, cited age as the reason for stepping down. "I will turn 75 in August 2026. I am writing to share with you my intent to step down... effective from conclusion of 41st Annual General Meeting," he said. He further noted, "It has been a privilege to serve GPL... I am very confident that our leadership team will continue to build forward and create even more sustainable, long-term value for our stakeholders."

The Board acknowledged his contribution, placing "on record their highest appreciation for the guidance, growth, support and strategic directions provided by Mr. Nadir Godrej during his tenure as Director of the Company."

Additionally, the Board approved an enabling resolution to raise funds through debt instruments. The company said it may raise up to Rs 3,000 crore via "Non-Convertible Debentures, Bonds and/ or other Debt Securities on a private placement basis, in one or more tranches."

It added that a Committee of Directors has been authorised to decide on key aspects of such issuances, including "the quantum, timing and terms and conditions thereof."

- ANI

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Reader Comments

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Sarah B
200% dividend is solid, but I'm more curious about the debt raising. Rs 3,000 crore in NCDs is significant. As someone who follows real estate stocks, this could mean they're gearing up for land acquisition or large projects. Good for growth, but need to watch debt levels.
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Priya S
Sad to see Nadir Godrej go. He's one of those quiet pillars of Indian industry who just works without much noise. The Godrej group has maintained its ethics through generations which is rare. Dividend is good but I'd have liked a bonus issue too. Still, happy for shareholders 😊
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Michael C
A 200% dividend is impressive, but I notice the AGM isn't until August. That's a long wait for approval. And record date July 28? That's tight. Hope retail investors don't miss the eligibility window. Good to see transparency though - the debt raise details look clear.
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Vikram M
Nadir Godrej retiring at 75 is deserved. But I hope his replacement brings fresh vision. Godrej Properties has been doing well in premium housing segment. The Rs 3000 crore debt plan - if used wisely for projects, could boost revenue. But governance must remain tight. Indian real estate needs more trusted names like this.
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Emma D
I appreciate the detailed disclosure - dividend dates, record date, payment timeline. Too many Indian companies are vague about this. Nadir Godrej's exit is graceful. The debt raise makes sense given current real estate boom in India. Just hope the company maintains its reputation for quality.

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