Paramount Group Is The Member Of Indian Green Building Council.
For Sales Enquiry: +91 7838 6833 68
For Villas Or Studio & Suits Sales Enquiry: +91 8376 0555 55
 

Corporate Social Responsibility

DEFINITIONS

  • “Act” means the Companies Act, 2013.
  • "Corporate Social Responsibility" or "CSR” shall means and includes but not limited to projects, programs or activities (either new or ongoing), excluding activities undertaken in pursuance of the normal course of business, as specified in point no. 3 of this CSR Policy.
  • "Corporate Social Responsibility Committee" or "CSR Committee" shall mean a Committee constituted by the Board of Directors as per the provisions of Section 135 of the Companies Act, 2013 read with the Companies (Corporate Social Responsibility Policy) Rules, 2014.
  • “CSR Policy" defines the Vision and Mission of CSR initiatives of the Company and lists the broad direction and focus areas as well as activities to be undertaken by the Company within the overall sectors/segments for CSR expenditure prescribed in the Act.
  • “Net Profits” shall mean the net profit of theCompany as per its financial statements prepared in accordance with the applicable provisions of the Companies Act, 2013, but shall not include the following, namely:

    (i)Any profit arising from any overseas branch or branches of the Company, whether operated as a separate company or otherwise; and

    (ii) Any dividend received from other companies in India, which are covered under and complying with the provisions of Section 135 of the Companies Act, 2013
  • “Total CSR Spend” shall mean at least 2% of the average Net Profits of the Company for the last three financial years in relation to the financial year in question.
  • “Employee” means employee of the Company whether employed in India or outside India.
  • “Company” means Paramount Propbuild Private Limited.

OUR VISION AND MISSION

Vision: The Company’s Vision for CSR activities is "improving quality of life whilein pursuit of collective development and environmental sustainability". This vision should encompass all CSR activities of the Company.

Mission: The Company’s Mission for CSR activities is to strive for economic and social development that positively impacts the society at large and pursue initiatives in that direction. Within the above mission, the CSR Committee will prioritize projects/activities from time to time.

OUR CSR ACTIVITIES

The CSR activities that the Company willpursue will be in line with thestated Vision and Mission, focused not just around our sitesand offices, but also in other geographies based on the needs of the communities.In line with the provisions of the Act, the Company’s activities are listed below, which will be prioritized from time to time on the recommendation of the CSR committee:

  • Eradication of poverty and extreme hunger;
    • Provision of food, nutrition supplement, clothes etc. for the poor, children and other deprived sections of the society.
    • Promoting sanitation, making available safe drinking water
  • Promoting and supporting general healthcare including health check-ups, provision of medicine & treatment facilities, reducing child mortality, improving maternal health, combating human immunodeficiency virus, acquired immune deficiency syndrome, malaria, dengue, poliomyelitis, tuberculosis and other infections and diseases.
  • Promotion of education, formal, informal, elementary, primary, secondary and higher education in all streams, including all kinds of research and employment enhancing vocational skills education and training regimes of all kinds, especially among children, women, elderly and the differently abled and livelihood enhancement projects;
  • Promoting gender equality and empowering women in all walks of life;
  • Promoting and ensuring environmental sustainability through plantation drives in parks/schools, villages, our project sites& offices/business premises and other areas in general, protection of flora and fauna including contribution to Clean Ganga Fund set up by the Central Government of India for rejuvenation of river Ganga;
  • Promoting social business projects like treatment of road accident victims, trauma care around highways, disaster relief measures, services and facilities for differently able persons etc.;
  • Rural development projects;
  • Slum area development;
  • Contribution to various funds which are aligned with our Vision and Mission e.g. Prime Minister's National Relief Fund
  • Contribution to any other fund set up by the Central Government for socio-economic development and relief of the welfare of Scheduled Castes, Scheduled Tribes, other backward classes, minorities and women.
  • Such other activities as the Board may consider being appropriate.

CORPORATE SOCIAL RESPONSIBILITY (CSR) COMMITTEE AND ITS RESPONSIBILITY

The Company’s CSRCommitteeshall consist of the following Directors as members

  • Mr. Mukesh Agarwal
  • Mr. Satya Pal Singh

Mr. Mukesh Agarwal will be the chairman of the CSR Committee.

CSR Committee will be responsible for the following:

  • Recommending updates to the CSR Policy to the Board of Directors of the Company, from time to time,within broad parameters prescribed under the Companies Act, 2013;
  • Prioritizing and recommending the amount of expenditure for differentCSR activities;
  • Monitor the CSR activities of the Company from time to time;
  • Any other matter related to the Company’s CSR activities as the CSR Committee may deem appropriate, after approval of the Board of Directors or as may be directed by the Board of Directors from time to time

GOVERNANCE STRUCTURE

The Company can undertake its CSR activities through a registered trust, registered society or Company registered under Section 8 of Companies Act, 2013 established by the Company or its holding or subsidiary or associate company.

The Company has set up a trust, Paramount Foundation for this purpose and accordingly, the principal implementer for the Company’sCSR activities will be Paramount Foundation. The company may specify the project or programs to be undertaken through this trust, the modalities of utilization of funds on such projects or programs and monitoring and reporting mechanism.

Paramount Foundation or such other entity, if appointed as CSR implementer, will work closely with and also support the Board of Directors of the Company and the CSR Committee in identifying areas of CSR activities, projects &programs and implementingthe same.

Ifthe Company undertakes CSR activities through a registered trust or a registered society or a companyregistered under section 8 of the Companies Act, 2013, other than Paramount Foundation, it will be ensured that such organization has anestablishedtrackrecord ofat leastthree years in undertaking similarprograms or projects.

QUANTUM OF EXPENDITURE ON CSR ACTIVITIES

  • The Company shall strive to spend in every financial year at least 2% (two percent) of the average Net Profits of the Company made during the three immediately preceding financial years
  • Any surplus arising and/or additional revenue generated out of CSR Activities undertaken by the Company shall not form part of the business profit of the Company and the same shall be usedfor undertaking CSR activities only.
  • CSR expenditure made by contributingto the Corpus of Paramount Foundation or other similar entity will qualify as CSR expenditure as long as the corpus is created exclusively for a purpose directly relatable to a subject covered in the Company’s CSR activities
  • Any projects, programs or activities that benefit only the employees of the company and their families shall not be considered as CSR activities.
  • The Company may build CSR capacities ofitsown personnel as well as those of itsimplementing agencies but such expenditure“including expenditure on administrative overheads,” shall not exceed five percent of total CSR expenditure ofthe Company in one financial year.
  • Contribution of any amount directly or indirectly to any political party under section 182 of the Act, shall not be considered as CSR activity.

MONITORING AND EVALUATION

  • The Committee shall discuss the progress of each project or activity undertaken and takeappropriate decisions in this regard.
  • Every year, the Committee shall review the achievements/progress in respect of CSR activities of the Company and report on performance / variance from projected results with reasons and recommend course correction, modifications to coverage, target etc.
  • In respect of activities undertaken through an independent third partyTrust/Society/Section 8 Company etc. there will be a mechanism of seeking a half yearly report of progresson each such activity and the expenditure thereon, which shall be reviewed by the Committee.
  • Where after allocation of funds for a project/activity, the Committee requires further funds to speed up the project/activity or to enlarge its scope etc, the Committee shall request the Board of Directors of the Company to approve such higher amount.

CSR REPORTING

Apart from the reporting requirement as mentioned hereinabove in the Policy, following regulatory disclosure requirements also will be complied in relation to CSR activities ofthe Company:

  • Composition of the CSR Committee shall be disclosed in the Board Report;
  • The Board Report shall include an annual report on CSR activities in prescribedformat (by Ministry of Corporate Affairs (‘MCA’)) containing specified particulars i.e.brief outline of CSR Policy, its content, the average Net Profits for the last 3 financialyears and the prescribed CSR expenditure etc.;
  • If the Company fails to spend the prescribed amount, the Board shall, in its reportspecify the reasons for not spending the amount;

Quality Policy

We believe that the secret to our achievements is in giving our customers what they desire, and our belief in the implementation of up-to-the-minute techniques and resources in our operations.

This, in turn, has helped us in creating cost-effective, state-of-the-art construction solutions, which stress on modern architecture and quality workmanship.

Paramount Group Quality Policy

Paramount Projects

  • Paramount Golfforesté Paramount Golfforesté
    Greater Noida
  • Paramount Floraville Paramount Floraville Sec-137, Noida Expressway
  • Paramount Emotions Paramount Emotions G.Noida West
  • Paramount City Square Paramount City Square
    GH-05, Noida Ext.
  • Paramount Symphony Paramount Symphony Crossing Republik NH-24
Paramount Group Projects