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11	11	The company's projects over the years have delivered many firsts in the Indian real estate market. Planet Godrej, a skyscraper in Mumbai, was India's tallest occupied building when completed in 2008. It also illustrated its focus on customer safety and wellbeing by becoming the first project in the country to offer residents a fire escape chute. The company's commercial office project, Godrej BKC, is the only LEED (Leadership in Energy and Environmental Design) Platinum rated building in India's leading commercial district, Bandra Kurla Complex, demonstrating Godrej Properties' commitment to environmental sustainability. It is also the project where the company broke the record for India's highest ever commercial end-user sales transaction when a large multinational pharmaceutical company purchased space in this project for INR 1,479 crore in 2015. The company's flagship project, The Trees, is one of India's most sustainably planned mixed-use projects that the company hope will contribute to the evolution of urban design thinking in the country. The company sold over INR 1,200 crore worth of space within six months of launching this project in 2015, making it one of the country's most successful residential project launches.
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13	13	With an estimated 10 million Indians moving into the urban areas annually, the country's urban landscape is likely to change dramatically in the coming decades. The company firmly believe that India must seize on the opportunity to urbanize in a sustainable manner. The company's group has always been at the forefront of the environmental sustainability movement. The CII-Godrej Green Building Center in Hyderabad, when it was completed in 2004, was the first LEED Platinum building outside of the United States and was the single highest rated LEED building in the world.  In 2010, Godrej Properties committed that every single project the company develop will be a certified green building. Many of its projects have since received LEED Platinum certifications, which are globally recognized as the leading sustainability recognitions. The company's large township project, Godrej Garden City, in Ahmedabad was selected as one of only 2 projects in India and 16 worldwide by The Clinton Foundation to partner with them in the goal of achieving a climate positive development. In 2016, the company stood 2nd in Asia and 5th in the world in the GRESB (Global Real Estate Sustainability Benchmarking) study, which is an industry led sustainability and governance benchmarking platform.
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15	15	In 2010, Godrej Properties became a publicly listed company through a successful IPO in which it raised USD 100 million. Godrej Properties also created a fund management subsidiary in 2016; Godrej Fund Management raised USD 275 million in the year's largest residential real estate focused fund raise in the country. Godrej Properties is one of India's only national developers with a strong presence across the country's leading real estate markets. In the financial year 2016, for the first time, Godrej Properties was India's largest publicly listed real estate developer by sales value having sold over INR 5,000 crore of real estate that year.  In the same year, the company also delivered 0.56 million square meters (6 million square feet) of real estate in seven cities across India.
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22	22	The Godrej Group was established in 1897 out of a desire to demonstrate economic self-sufficiency and excellence within India in the pre-independence decades. From safes that withstood fires better than international competitors', to one of the world's first soaps from vegetable oil, and the ballot boxes for independent India's first general election, the group has a proud tradition of making meaningful products and building businesses that serve the country's interests.  Godrej Properties has always focused on people and the planet along with the profits. Approximately 23% of the promoter stake in the Godrej Group, is owned by philanthropic trusts that work on environmental, educational, and health care issues in India.  Godrej Properties is also bringing together its passion and purpose to make a difference through its Good & Green strategy of shared values to create a more employable Indian workforce, build a greener India and innovate for ‘Good' and ‘Green' products.
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25	25	= Industry Overview =
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27	27	The Indian real estate sector has been trying to get back on its feet and come to terms with multiple reforms and changes brought in by demonetization, RERA, GST, IBC, NBFC crisis and the subvention scheme ban. While it was a tough task for the sector to align itself with these new regulations, the measures have been instrumental to bring transparency, accountability and fiscal discipline over the last few years. Prior to COVID19, the real estate sector was expected to grow to USD 650 billion and contribute around 13% of India’s GDP by 2025 (from around 6-7% in 2017), according to ANAROCK Research.{{footnote}}https://d1jys7grhimvze.cloudfront.net/backoffice/data_content/annual_report/Annual_Report3.pdf{{/footnote}}
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56	56	The Indian office market has been fairly resilient from the broad macro concerns due to slowdown in the economy and gained strong traction in CY2019 with record supply hitting the market during the year, according to a report by Knight Frank. The office space supply rose sharply by 56% YoY to 61.3 million sq. ft. in CY2019. The office sector also witnessed highest ever transaction activity of 60.6 million sq. ft., up 27% YoY. The Hyderabad office market particularly witnessed a very strong year, recording transactions to the tune of 12.8 million sq. ft. (up 82% YoY), which is nearly twice its previous high. The IT/ ITeS sector contributed around 41% of transacted volume in H2 2019, while share of BFSI dipped to 16% resulting from NBFC crisis and credibility issues with some banks. Coworking space continued its growth momentum, accounting for 12% of the total transactions, up from 8% in the previous year.
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59	59	= Financial Overview =
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61	61	For the full financial year under review, GPL’s total income decreased by 13% and stood at Rs 2,829 crore. However, EBITDA increased by 23% to 733 crore and net profit increased by 6% to Rs 267 crore.