Heera Construction Co (P) Ltd

REPORT ON BUSSINESS ETHICS AND CORPORATE GOVERNANCE

Submitted by SUMESH S.S SHAFI S VISHNU KRISHNAN Batch A Date: 16-5-2011

Submitted to Ms. Thapasya vijayan Lecturer-marketing Tim

PERSON INTERVIEWED:

Mr. Subin A R Director (Marketing) Heera Construction Co (P) Ltd.

He is the Director of the Company, graduated with a Bachelor of Administration (honors) from the Greenwich University, UK. He is responsible for deploying the Company's strategic vision and developing business alliances as well as building the management team. Mr.Subin is an integral part of the Heera Construction that enabled the Kerala's Largest Builders Group since 1994. Mr. Subin has a very broad background that spans marketing, he is well known and respected in the professional community and has been responsible for successful delivery of some of the most prestigious Projects like Heera Blue Bells, Heera Greencourt , Heera Crescent and Heera Heritage etc.

About Heera Group Heera Group was established two decades ago in Goa, Dr. A R Babu has been the founder and the leader of the "Heera Group" of Companies which is engaged in the diversified business activities like Property Development and Construction, Civil contracting, Education & Charity and also tourism related projects. He has been solely instrumental in bringing up the Heera Construction Co (P) Ltd. to its present day glorified status.After understanding the needs of the milieu, Heera extended its arms to Kerala and other states. Dr. A.R. BABU Started his Career in the construction field at Panaji, Goa, India in 1980 & Started own Company in the name & Style M/s Heera Construction was founded in 1983 at Goa, and entered in the business field of contracting with the Government and Private Sector firms. Business operations were expanded and Business activities diversified in the Real Estate Industry as Builder at Trivandrum, Kerala 1994. At Present Heera is a leading Industry in the Real Estate segment in the State with a turnover of around 120 crores. The experiences in Real Estate industry have helped us to formulate and comprehend the concept of a home. A home is not just a house, but an expression of one's individuality, a home has a soul, a character and a personality all its own. We, at Heera, give utmost importance in implementing this concept and focus meticulously on every detail and the client's needs. Quality, Economy and Comfort are the factors that we rely on to achieve the needs of our clients. The 30 lakhs square feet floor area of 1700 happy homes and Vaastugramam and Vaastuhills stand as testimony to the quality that we provide. We are constantly redefining luxury and taking living experience to newer
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dimensions.

Heera incorporates the necessities of global Indians and has welcomed the association of non-resident Indians for the execution of mega projects. To cater to the needs of returning NRIs we have integrated the luxury of international standards and vernacular architecture. Having swept the market in Thiruvananthapuram with more than 35 projects, which is almost half of the total real estate scenario in the capital city, Heera has emerged as one of the prominent builders in the state, with a steady growth over the past 25 years. In Kochi, Heera Constructions boasts of a luxury apartment complex called Heera Waters at Chilavanoor facing the back waters. The uniqueness of the project is that it is so very near to the city but gives you the calmness and solitude of a water front resort. Heera Waters have all modern amenities and world class specifications and is very near to schools, banks, hospitals and shopping malls. The 19-storied project has 3 and 4 bed roomed luxury apartments. The latest projects to be announced in Kochi are Heera Royale in Tripunithura and another one at Kakkanad called Heera Cyberviews, both of which are progressing as per schedule with a completion date of December 2009 and March 2010 respectively. HEERA after making an in-depth market study of the investment plans and desires of their future prospective "Clientele", presents the brief detail of the projects/ ventures ongoing as well as those in the offing. All these schemes are designed and

brought out duly incorporating the minutest needs of their esteemed "Clientele". Vision: A Home should have a soul, a character, a touch of class and a personality all its own. A Home is not a shelter but an expression of one's own individuality. A Home should be where you can be yourself-a visible Expression of how much you care for your family. A Home is also a lifetime investment and one that should consistently appreciate. Products: We are professional company engaged in business activities both at Goa and Kerala, particularly in Trivandrum. Having its birth at Goa two decades ago as a construction agency.

Ongoing Projects of Heera Constructions

Heera Infocity: Restart life at the most happening place in town. Set in tranquil grounds and conveniently located near Technopark, Infocity offers a wide choice of accommodations from designed studio spaces two, three and four bedroom apartments ranging from 819sq.ft to 2021 sq.ft . Rate per square feet is Rs.3000. Scheduled for Handover in June 2011.

Heera Swiss Town: ( Sasthamangalam) At Heera Swiss town you will find happiness spread across 2 acres of delightful nature located in Sasthamangalam. Swiss Town comprises of three apartment blocks of 17 storied consisting of 65 apartments in each with a combination of Two, Three , four Bhks and duplex apartments. Apartments with an area of 1155 Sq.ft to 3460 Sq.ft. Rate per Square feet is Rs.3500. It is close to all city conveniences. The first tower named as Oak Leaf has been handed over last August 17th.The second tower named has Pine Tree is scheduled for handover in March 2012 and the third tower named as Maple Leaf is scheduled for handover in June 2012.

Heera High Life: ( Dewasom Board Junction) Heera High Life is located in Dewasom Board Junction next to Style plus. It is a B+G+17 storied building comprising of 62 luxury apartments of Two, Three and Four Bhks with an area of 1175 sq.ft to 2275sq.ft. Rate per Square feet is Rs.5500 It is close to all conveniences including Schools, Shopping malls, Restaurants.. Scheduled handover is in December 2012

Heera Blue Berry: ( Vellayambalam) Next to Blue Bell Heera Blue Berry is located in, Vellayambalam. It is a G+10 storied apartment block comprising of 16 units. 2+Study & 3 BHK. Apartments with an area of 1190 sq.ft. to 1627 sq.ft. Rate per square feet is Rs.3500. Proximity of this project is close to Trivandrum Club, Tennis Club, Golf Club & Napier Museum. Scheduled for handover in June 2011.

Heera 4 Pillars: ( Killipalam) Heera 4 Pillars is located in Killipalam. There are four apartment blocks in this project and its a G+19 storied building comprising of One, Two & Three Bhks with an area ranging from 570 sq-.ft to 1332 sq.ft . Rate per square feet is Rs. 3000. Scheduled for Handover in June 2013.

Heera Dreams: (Tower1 & Tower 2) Heera Dreams the tallest residential project in Kerala, it is just 750 metres from the International Convention centre and the Akkulam Lake. It has got two and three bedroom apartments of different sizes. Tower 1 comprises of Two & Three Bhks with an area of 1006 sq.ft to 1520Sq.ft. Rate per square feet is Rs.2500 and is scheduled for Handover in 2013. Tower 2 comprises of Three Bhks with an area of 1312 Sq.ft to 1665 Sq.ft. Rate per square feet is Rs.2500 and is scheduled for Handover in 2013.

Heera Golden Hills: ( Kanakakunnu) Heera Golden Hills is located close to the Kanakakunnu Palace and its a G +13 storied building comprising of 48 units of Two, Three Bhks, Duplexes and Pent Houses with an area of 1375 sq.ft. to 3060 sq.ft. Rate per square feet is Rs.4500. It is scheduled for handover in December 2011. Proximity of this project is close to
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Kanakakkunnu Palace, Napier Museum, Zoological Park & Sree Chithra Art Gallery.

Heera Towers: Heera Towers is located at Sreekariyam overlooking the serene Akkulam Lake. Its a G+14 apartment block comprising of 56units of Two and Three Bhks with an area of 1085 sq.ft to 1405 sq.ft. Rate per square feet is Rs.2500. Proximity of this project is close to Akkulam Lake, Technopark Campus, Infosys Campus, proposed US Technology Township and International Convention Centre, Loyola School, Good Shepherd School, MGM School & College of Engineering. Scheduled for Handover in May 2011.

1. What do ethics mean to you? Ethics is important for every organization for the success in the long run. For me ethics means providing maximum benefit to my clients for the money they are paying and the well being of my employees. This approach helps me to make long lasting business relationships with my clients. 2. How does the company address ethical employee related issues? I am giving prime importance to the employees. Employees are selected based on their work skills. Sometimes employees are taken on the contract basis to meet the requirement. When there occurs an employee related issue, I first hear the employees point of view. Then analyze the situation with unbiased approach and choose the best alternative to solve the problem. 3. Which all are the regulatory agencies your firm or company is associated with? Do you make any periodic reports? The authorities like tax, revenue and labor department. We are preparing yearly financial reports. 4. Is the company following any ethical philosophy/ code of conduct? There is no code of conduct that is being formally addressed in the company.

5. Is business ethics addressed formally in your organization? If yes, what documentation exists and how is it handled. If no, what exist informally No, most of the ethical issues are handled with informal approach. There is no basic documentation done because of various reasons. 6. What all are the kinds of ethical dilemmas that you have come across in your business?
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I have come across lot of ethical dilemmas in my business life. The main dilemma that I faced is satisfying the personal intentions of employees of our client companies. The others are related with satisfying my employee needs. 7. CSR activities The CSR activities of the company are Funding of an NGO named Missionaries of Charity Accommodation facility for the employees Financial support to the employees apart from the salary

8. What are the steps that company is planning to take in the future with respect to promoting ethics in the company? The company has always being following the ethical values and morale. The company is planning to take various construction projects and also to diversify into various projects but with staying in its values. Whatever project the company may undertake it will be undertaken keeping in mind the core values of the organization.

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