The Nexus of

Happyness

RELIABLE | RESPONSIBLE | RESILIENT

In the course of our business journey over years, we have realised that companies with a strong foundation can weather every challenge and emerge stronger. As we grow to transform the retail experience, we draw lessons from strong businesses that have made the smart choice of balancing their emphasis on profitability with an equal emphasis on sustainable development.

At Nexus Malls, we are working towards mainstreaming Environmental, Social and Governance aspects (ESG) into our business model. We will continue being a responsible, reliable and resilient company creating long-term value for everyone associated with us and for the society at large.

Corporate Overview

ESG Highlights FY2021

Environment

MORE
ENERGY-EFFICIENT

55.81%

Reduction in energy usage from FY2020

More conscious of waste generation

1/3rd

Of malls are Zero Liquid Discharge (ZLD)

More emphasis on quality services

All malls

Bureau Veritas certified on Hygiene and Sanitisation for COVID-19

Social

MORE DILIGENT ON CREATING SOCIAL IMPACT

24%

Employees are female

93

Ex-servicemen, their kin, and specially abled individuals employed

Economic and Governance

More
profitable

5720.11million

Direct revenue generated

More transparent and accountable

Zero

Regulatory violations

More transparent and accountable

07

Total number of Board Meetings in FY2021

Message from Chief Executive Officer

Our commitment towards a sustainable future

Dear Readers,

I am glad to present to you the first Sustainability Report of Nexus Malls for FY2021. We endeavour to take concerted measures that translate into meaningful progress and create true value for all our stakeholders, thereby delivering on our purpose of 'Accelerating sustainable growth'

Dalip Sehgal
Chief Executive Officer

Our material issues

Understanding what matters to our stakeholders

We conducted a detailed materiality assessment by gathering the opinions and insights from all our stakeholders and assessing their impact on the organisation in order to identify environmental, social, governance, and economic issues that are critical to the Company’s long-term viability and sustainability. This evaluation helped us identify and prioritise the issues that are most important to the Company's business.

Environment

We pride ourselves on the excellence which we have maintained not just in operating our malls, but also by being responsible towards the larger cause of society and the environment.

Energy and emission management

We are working towards enhancing our monitoring systems, continuing with our energy efficiency improvements, increasing renewable energy generation and enabling national decarbonisation. In FY2021, we improved our emission monitoring and reduced our energy consumption by 55.81% and greenhouse emissions by 52.2% on the back of our energy saving strategy.

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Installed 6MW solar plant at Seawoods Grand Central
Introduced EV charging infrastructure at malls for customers to charge their EVs at zero cost

Water stewardship

For optimum water usage, we focus on enhancing water monitoring by abiding by the 3Rs, i.e., reducing consumption, recycling and reusing, and responsible discharging. As a result of these initiatives, we have been able to reduce water withdrawal by 16% in FY2021 compared to the previous year.

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Waste management

As a sustainable organisation, we have imbibed an integrated concept of circular economy in our daily functions. We have put in place systems that ensure reduction of waste in malls and shopping centres, re-incorporating recyclable resources into the circular economy and closing the loop. Right from material procurement, usage to material disposal, we ensure material optimisation and waste minimisation.

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Engaged with Thermax to carry out microbiocide dosing for controlling biological slimes in cooling water systems

Environmental risk management

We understand the ramifications of our energy usage, both in terms of climate impact and operating expenses, and are committed to meeting our energy demands through renewable sources that will lower our carbon footprint. To tackle water and resource crunch risks, we have strategic plans to manage our resource use so that we can minimise our residual environmental risk.

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Opportunities in Green Building

At Nexus Malls, we strive to make our malls a benchmark for sustainability. We are proud of the fact that our portfolio has two Platinum level certifications (Head Office and Seawoods Grand Central Mall) and two with Gold level certification (Westend and Ahmedabad One) from IGBC.

Mall of Amritsar,
Amritsar
(Silver-plaque)

Ahmedabad One,
Ahmedabad
(Gold-plaque)

Seawoods Grand Central Mall,
Navi Mumbai
(Platinum-plaque)

Energy and emission management

We are working towards enhancing our monitoring systems, continuing with our energy efficiency improvements, increasing renewable energy generation and enabling national decarbonisation. In FY2021, we improved our emission monitoring and reduced our energy consumption by 55.81% and greenhouse emissions by 52.2% on the back of our energy saving strategy.

Installed 6MW solar plant at Seawoods Grand Central

Introduced EV charging infrastructure at malls for customers to charge their EVs at zero cost

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Water stewardship

For optimum water usage, we focus on enhancing water monitoring by abiding by the 3Rs, i.e., reducing consumption, recycling and reusing, and responsible discharging. As a result of these initiatives, we have been able to reduce water withdrawal by 16% in FY2021 compared to the previous year.

DOWNLOAD Chapter

Waste management

As a sustainable organisation, we have imbibed an integrated concept of circular economy in our daily functions. We have put in place systems that ensure reduction of waste in malls and shopping centres, re-incorporating recyclable resources into the circular economy and closing the loop. Right from material procurement, usage to material disposal, we ensure material optimisation and waste minimisation.

Engaged with Thermax to carry out microbiocide dosing for controlling biological slimes in cooling water systems

DOWNLOAD Chapter

Environmental risk management

We understand the ramifications of our energy usage, both in terms of climate impact and operating expenses, and are committed to meeting our energy demands through renewable sources that will lower our carbon footprint. To tackle water and resource crunch risks, we have strategic plans to manage our resource use so that we can minimise our residual environmental risk.

Opportunities in Green Building

At Nexus Malls, we strive to make our malls a benchmark for sustainability. We are proud of the fact that our portfolio has two Platinum level certifications (Head Office and Seawoods Grand Central Mall) and two with Gold level certification (Westend and Ahmedabad One) from IGBC.

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Social

We at Nexus Malls are constantly striving to ensure that the right opportunity is provided to the right candidates across our portfolio of malls. We also take great pride in the fact that over 24% of our colleagues are women.

Employee wellbeing and development

We invest in our employees’ overall development through various programmes that upskill them in accordance with market needs. Regular training and engagement together with a diverse and inclusive work culture have ensured increased productivity as well employee satisfaction.

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11,956

Participants in COVID-19 training

Average 34

hours of training done by permanent employees

ALL

Employees received Fire & Safety training

Diversity, inclusion and non-discrimination

We have a long history of supporting gender equality. In FY2021, we reinforced the necessity of having a culture that encourages and supports the professional development and success of our employees, irrespective of their gender. We also encourage cultural engagement, access, and the right of our employees to abide by their culture.

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Best Place to Work for Women

We realised that women employees often hesitate to work in malls due to time constraints. To address this concern and motivate women employees to work without worry, the management decided to create a demonstrative workplace with requisite benefits and safety protocols for women.

Employee Health & Safety

We have well laid out policies and processes for workers which allow them to remove themselves from work situations that they believe could cause injury or ill health.

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Certification by Bureau Veritas

Post re-opening after the first lockdown, ours were the only malls to put in place rigorous SOPs and have their implementation duly audited by an international agency – Bureau Veritas, a global leader in the industry. As a result of our continuous efforts to make our malls a safe destination for our employees and customers, we were recognised with the Hygiene and Sanitisation Certification from the agency.

Market presence and customer focus

By creating the right ambience, arranging for specially curated events, bringing together the best brands and giving enough attention to food and entertainment, we are giving our customers a total experience that ensures repeat footfall and continued loyalty.

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Providing a holistic experience

We provide wholesome entertainment for children as well as for visitors across various age groups. From recreating dinosaurs and dragons to characters of popular cartoon shows, exciting gigs and competitions, we ensure our visitors are creatively engaged.

Combatting the pandemic

The COVID-19 pandemic tested our resilience and caused severe business disruptions. While we recalibrated our operations to minimise costs, we also ensured that our employees remained safe and secure while taking steps to safeguard customer interests and caring for the larger community.

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We Care

Taking inspiration from our core values, we launched the #WeCare initiative throughout the organisation as a part of our COVID-19 efforts to mitigate the health related risks.

Employee wellbeing and development

We invest in our employees' overall development through various programmes that upskill them in accordance with market needs. Regular training and engagement together with a diverse and inclusive work culture have ensured increased productivity as well employee satisfaction.

11,956

Participants in COVID-19 training

Average 34

hours of training done by permanent employees

ALL

Employees received Fire & Safety training

DOWNLOAD Chapter

Diversity, inclusion and non-discrimination

We have a long history of supporting gender equality. In FY2021, we reinforced the necessity of having a culture that encourages and supports the professional development and success of our employees, irrespective of their gender. We also encourage cultural engagement, access, and the right of our employees to abide by their culture.

Best Place to Work for Women

We realised that women employees often hesitate to work in malls due to time constraints. To address this concern and motivate women employees to work without worry, the management decided to create a demonstrative workplace with requisite benefits and safety protocols for women.

DOWNLOAD Chapter

Employee Health & Safety

We have well laid out policies and processes for workers which allow them to remove themselves from work situations that they believe could cause injury or ill health.

Certification by Bureau Veritas

Post re-opening after the first lockdown, ours were the only malls to put in place rigorous SOPs and have their implementation duly audited by an international agency – Bureau Veritas, a global leader in the industry. As a result of our continuous efforts to make our malls a safe destination for our employees and customers, we were recognised with the Hygiene and Sanitisation Certification from the agency.

DOWNLOAD Chapter

Market presence and customer focus

By creating the right ambience, arranging for specially curated events, bringing together the best brands and giving enough attention to food and entertainment, we are giving our customers a total experience that ensures repeat footfall and continued loyalty.

Providing a holistic experience

We provide wholesome entertainment for children as well as for visitors across various age groups. From recreating dinosaurs and dragons to characters of popular cartoon shows, exciting gigs and competitions, we ensure our visitors are creatively engaged.

DOWNLOAD Chapter

Combatting the pandemic

The COVID-19 pandemic tested our resilience and caused severe business disruptions. While we recalibrated our operations to minimise costs, we also ensured that our employees remained safe and secure while taking steps to safeguard customer interests and caring for the larger community.

We Care

Taking inspiration from our core values, we launched the #WeCare initiative throughout the organisation as a part of our COVID-19 efforts to mitigate the health related risks.

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Governance

As a Company with strong values and commitment, we believe that success must go hand in hand with a sense of responsibility toward all stakeholders. The fundamental principles of corporate governance provide us a framework for implementing our governance philosophy.

Corporate governance, transparency and disclosures

At Nexus Malls, we place an undeterred focus on maintaining a robust corporate governance system and adhering to established principles that ensure our continued resilience and reliability.

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ESG governance framework

Regulatory compliance and fair business practices

To encourage a culture of compliance, we observe the Compliance Week every year across all our malls to ensure employees, vendors and patrons are compliant with regulatory requirements. Owing to our efforts, we received zero fines, penalties, or warnings for non-compliance with government regulations

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Compliance with labour laws

As part of our continuous efforts to remain fully compliant with all applicable regulatory requirements that are relevant to our business, we ensure that we are in compliance with the labour laws. Towards this, we have established a robust monitoring system to track any cases of non-compliance.

Business ethics and anti-corruption

Our Code of Conduct lays down a framework for expected ethical conduct and behaviour amongst employees and other individuals associated with us. It covers antidiscrimination, anti-competitive, and insider trading principles, as well as prohibition on bribes.

Human rights protection

We organise trainings on the Prevention of Sexual Harassment (POSH) at the workplace for all employees and outsourced employees every year. We also have a 24x7 complaint reporting number, accessible to all employees for immediate grievance redressal for any human rights violation.

Data privacy and security

We have established processes, safeguards, and binding rules to protect personal information and we ensure that our customers and the stakeholders concerned retain control over it. No complaints were received regarding data privacy and security during the reporting year.

Resilient business model and long-term profitability

We understand that a resilient business model is a fundamental requirement to combat all kinds of uncertainties and remain unaffected in times of crisis. uncertain events such as the COVID-19 pandemic has displayed the rising need for us to embed ESG into our business model to create holistic value for all our stakeholders.

Economic performance in FY2021 (in million)

Direct revenue generated

` 5,720.11

Economic value distributed

` 8,277.82
Brand management

Our 'Nexus One - Happyness for Everyone' mission has motivated us to elevate the shopping experience of our visitors. Nexus One revolves around the principles of 5Cs – Customer, Consumer, Care, Cost Efficiency and Communication. We also strive to remain engaged with our stakeholders on a regular basis.

Managing and mitigating risks

Our risk management process enables us to proactively monitor the potential risks surrounding our business and implement effective measures to mitigate the impact. In addition to this, our risk management exercise provides the management with a basis to take sound decisions.

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How we manage our risks
ESG governance framework

Corporate governance, transparency and disclosures

At Nexus Malls, we place an undeterred focus on maintaining a robust corporate governance system and adhering to established principles that ensure our continued resilience and reliability.

DOWNLOAD Chapter

Regulatory compliance and fair business practices

To encourage a culture of compliance, we observe the Compliance Week every year across all our malls to ensure employees, vendors and patrons are compliant with regulatory requirements. Owing to our efforts, we received zero fines, penalties, or warnings for non-compliance with government regulations

Compliance with labour laws

As part of our continuous efforts to remain fully compliant with all applicable regulatory requirements that are relevant to our business, we ensure that we are in compliance with the labour laws. Towards this, we have established a robust monitoring system to track any cases of non-compliance.

DOWNLOAD Chapter

Business ethics and anti-corruption

Our Code of Conduct lays down a framework for expected ethical conduct and behaviour amongst employees and other individuals associated with us. It covers antidiscrimination, anti-competitive, and insider trading principles, as well as prohibition on bribes.

Human rights protection

We organise trainings on the Prevention of Sexual Harassment (POSH) at the workplace for all employees and outsourced employees every year. We also have a 24x7 complaint reporting number, accessible to all employees for immediate grievance redressal for any human rights violation.

Data privacy and security

We have established processes, safeguards, and binding rules to protect personal information and we ensure that our customers and the stakeholders concerned retain control over it. No complaints were received regarding data privacy and security during the reporting year.

DOWNLOAD Chapter

Resilient business model and long-term profitability

We understand that a resilient business model is a fundamental requirement to combat all kinds of uncertainties and remain unaffected in times of crisis. uncertain events such as the COVID-19 pandemic has displayed the rising need for us to embed ESG into our business model to create holistic value for all our stakeholders.

Economic performance in FY2021 (in million)

Direct revenue generated - ` 5,720.11
Economic value distributed - ` 8,277.82

Brand management

Our 'Nexus One - Happyness for Everyone' mission has motivated us to elevate the shopping experience of our visitors. Nexus One revolves around the principles of 5Cs – Customer, Consumer, Care, Cost Efficiency and Communication. We also strive to remain engaged with our stakeholders on a regular basis.

DOWNLOAD Chapter

Managing and mitigating risks

Our risk management process enables us to proactively monitor the potential risks surrounding our business and implement effective measures to mitigate the impact. In addition to this, our risk management exercise provides the management with a basis to take sound decisions.

How we manage our risks
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