Please find enclosed announcement under Regulation 30 of SEBI, LODR Regulations, 2015 on Monitoring Agency Report
Awaiting price reaction for this filing.
Godrej Properties submitted the ICRA Limited Monitoring Agency Report for the quarter ended March 31, 2025, covering the use of proceeds from its Qualified Institutional Placement (QIP) of Rs. 6,000 crore (net proceeds Rs. 5,921 crore after issue expenses), conducted between November 27 and December 2, 2024. The funds were earmarked for acquisition of land and/or land development rights (Rs. 5,300 crore) and general corporate purposes (Rs. 621 crore). During Q4 FY2025, Rs. 381.68 crore was deployed toward land acquisition, while general corporate purposes funds were fully utilized. As of March 31, 2025, Rs. 3,481.84 crore remained unutilized and was parked in 32 listed mutual fund schemes (Rs. 3,028.02 crore, including Rs. 46.18 crore in booked profits) and a Rs. 500 crore fixed deposit with HDFC Bank maturing December 24, 2025. ICRA noted no deviation from the stated objects and no material concerns regarding fund usage.
This is a routine compliance disclosure with no negative findings, confirming the company is deploying QIP proceeds in line with stated objectives. The large unutilized balance (Rs. 3,482 crore) parked in liquid mutual funds and bank FDs is normal for a phased land-acquisition plan and is neutral for shareholders.