Page 21 - Kolte Patil AR 2019-20

Board of Directors
The Board comprises achievers of standing; a good proportion of Independent Directors, who can speak their mind and influence
the Board. Their prudent approach and sustained guidance has enriched our values, business functions and governance.
Discipline-driven
At Kolte-Patil, we are engaged in a business marked by thousands of variables where even one variable incompetently managed can affect the customer’s experience.
At Kolte-Patil, this reality has inspired us to invest
in discipline: processes, systems and standard operating protocols with the objective to control variables and eliminate deviations
– each time and every
time. This discipline has been complemented by a robust IT foundation, which provides us with a scalable foundation that enables us to grow profitably without a proportionate increase in resources.
Audit and compliance-driven
At Kolte-Patil, we believe that business predictability is derived from a strong review system. We strengthened an audit-driven and compliance-driven approach. When faced with an accounting treatment that requires interpretation, we would rather take a conservative view. The result is that whatever we report
in our books is a faithful indication of what actually exists. Leading global auditors Deloitte Haskins & Sells LLP and KPMG are the Company’s Statutory Auditors and Internal Auditors respectively.
Transparency
At Kolte-Patil, we communicate accurately and comprehensively as well.
We hold our transparency commitment dear – whether it is in the form of what we tell customers who buy from us, what we tell investors during quarterly earnings calls and what we tell our employees on prospects and appraisals. We were one of few real estate companies to share a detailed document outlining the COVID-19 impact with the stock exchanges.
Stakeholder value
At Kolte-Patil, it would be simplistic to believe that we exist for one kind of stakeholder. The reality is that we have focused on well-roundedness: we are different things to different stakeholders. The customer must get the best value for money spent in buying our asset class; the employee must derive pride of association; the investor must generate a superior return on employed capital; the community must benefit in visibility and pride from our neighbourhood presence; the government must benefit through taxes and livelihood creation; our vendors must benefit through the outsourcing of products and services.
At Kolte-Patil, we believe that the measure of our governance lies in the assumption that if we did not exist, the urban landscape would be poorer.
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