Godrej Properties Ltd on Monday announced a series of board-level decisions, including a dividend proposal for shareholders and a key leadership change, following the conclusion of its Board meeting.
The company said its Board has recommended a dividend of Rs 10 per equity share for the financial year ended March 31, 2026. This translates to 200% of the face value of Rs 5 per share. The payout, however, remains subject to approval by shareholders at the upcoming Annual General Meeting (AGM).
As per its regulatory filing, the company’s 41st AGM is scheduled for August 4, 2026. The record date to determine eligible shareholders has been fixed as July 28, 2026. If approved at the AGM, the dividend is expected to be credited to eligible shareholders on or before September 3, 2026.
In a notable development, the Board also acknowledged the retirement of Nadir Godrej from the company’s Board of Directors. He will step down from his role as a Non-Executive Non-Independent Director at the conclusion of the AGM.
In his communication to the Board, Nadir Godrej cited age as the primary reason behind his decision. He mentioned that he will turn 75 in August 2026 and believes it is the right time to step aside. Reflecting on his journey with the company, he expressed gratitude for the opportunity to serve and conveyed confidence in the current leadership’s ability to drive long-term, sustainable growth.
The Board placed on record its appreciation for his contribution, highlighting his role in providing strategic direction, guidance, and consistent support during his tenure.
A Committee of Directors has been authorised to finalise key details of the fund-raising plan, including the amount, timing, and terms of issuance.
