Your Directors are pleased to present the 23^rd (Twenty Third) Annual Report on the business and operation of the
Company together with Audited Statement of Accounts for the financial year ended March 31, 2025.

FINANCIAL PERFORMANCE

The Audited Financial Statements of your Company as on March 31, 2025, are prepared in accordance with the
relevant applicable Indian Accounting Standards (“Ind AS”) and Regulation 33 of the Securities and Exchange
Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“SEBI Listing Regulations”) and
the provisions of the Companies Act, 2013(“Act”):

The summarized financial highlights are depicted below:

(All Amounts are in Million unless otherwise stated)

FINANCIAL PERFORMANCE OVERVIEW (STANDALONE BASIS)

The brief highlights of the Company’s performance (standalone) during the financial year 2024-25:

• Total revenue from operations increased to 53288.35 Millions as against 52970.64 Millions in the previous
year-an increase of 10.69%.

• Profit before Tax (pbt) for the current year are 5332.37 Millions and 5 206.69 Millions in the previous year - an
increase of 60.81%.

• Profit after Tax (pat) for the current year are 5240.51Millions and 5 153.79 Millions in the previous year - an
increase of 56.39%

• Earnings per share is 55.52 for the year under review.

CHANGE IN THE NATURE OF BUSINESS

There was no change in the nature of the business of the Company during the financial year ended March 31, 2025.

AMOUNTS TRANSFERRED TO RESERVES/RETAINED EARNINGS

The Retained Earnings of the Company for FY 2024-25 is decreased to 5633.35 Million as compared to 5718.93

Million in FY 2023-24, as Company issued Bonus Shares by capitalizing the Retained Earnings of the Company in

the year under purview.

DIVIDEND

The Board of Directors has not recommended any dividend for the financial year ended 31 March 2025 in order to
conserve resources for funding ongoing projects and strengthening the Company’s financial position.

DIVIDEND DISTRIBUTION POLICY

In compliance with the provisions of Regulation 43A of the SEBI (Listing Obligations and Disclosure Requirements)
Regulations, 2015, as amended, the Board of Directors of the Company have adopted the Dividend Distribution
Policy of the Company (“the Policy”). The Policy inter alia, lays down various parameters for the declaration/
recommendation of dividend.

The policy is available on the Company’s website at the following link:

https://www.globecivilprojects.com/ files/ugd/e97088 e16851d83e8b4cdea4d6f2ccfb00a5ef.pdf
UNCLAIMED DIVIDENDS

During the period under review, there was no amount of unpaid / unclaimed dividends liable to be transferred to
the Investor Education and Protection Fund (lEPF) under Sections 124 and 125 of the Companies Act, 2013.

SHARE CAPITAL

During the year under review, the authorised share capital of the Company was increased from 55,00,00,000
(50,00,000 equity shares of 510 each) to 565,00,00,000 (6,50,00,000 equity shares of 510 each). During the year
Company has issued

a) Preferential Allotment

b) Bonus shares

Preferential Allotment

The Company allotted 52,100 equity shares of 510 each at an issue price of 5960 per share (including a premium
of 5950 per share) on a preferential basis, aggregating to 55,00,16,000. This was done in compliance with the
provisions of Sections 42 and 62(1)(c) of the Companies Act, 2013 and the Companies (Prospectus and Allotment
of Securities) Rules, 2014.

Bonus Issue

The Company issued bonus shares in the ratio of 16:1 to the existing equity shareholders by capitalizing reserves,
resulting in the allotment of 4,04,31,472 equity shares of 510 each, aggregating to 540,43,14,720. Post this allotment,
the issued, subscribed, and paid-up share capital increased from 25,26,967 shares to 4,29,58,439 shares.

During the year, the company has not done any buy back of equity shares.

EMPLOYEE STOCK OPTION SCHEME (ESOS)

The Company does not have any stock options scheme as on date.

LISTING OF SHARES

The Board approved the Initial Public Offering of Equity Shares of the Company vide resolution dated August 20,
2024 and same was approved by shareholders vide resolution dated August 21, 2024.

The Company successfully completed its Initial Public Offer (ipo) by issuing 1,67,60,560 equity shares at a price of
571 per share (including share premium of 5 61 per share), aggregating to 5118,99,99,760. The equity shares were
listed on the National Stock Exchange of India Limited and BSE Limited with effect from July 01, 2025.

CREDIT RATING

As of the 26.06.2025 i.e. date of the Prospectus, the company has following credit ratings on debt and credit
facilities from Infomerics Valuation and Rating Private Limited:

In terms of the SEBI ICDR Regulations, the Company is required to appoint a credit rating agency registered with
SEBI as the monitoring agency, which shall monitor the use of the Gross Proceeds of the Issue in accordance with
the terms of the Objects of the Issue in the Offer Document. Accordingly, the Company hereby appoints and CARE
hereby agrees to act as the monitoring agency (“Monitoring Agency”) for monitoring the use of the Gross Proceeds
in accordance with the terms and conditions of this Agreement and subject to the SEBI ICDR Regulations and other
Applicable Laws.

MATERIAL CHANGES AND COMMITMENTS, IF ANY

Following are the material changes and commitments affecting the financial position of the Company occurred
between the end of the financial year to which this financial statement relates and the date of this report.

Initial Public Offer (IPO)

The Board approved the Initial Public Offering of Equity Shares of the Company vide resolution dated August 20,
2024 and same was approved by shareholders vide resolution dated August 21, 2024.

The Company successfully completed its Initial Public Offer (ipo) by issuing 1,67,60,560 equity shares at a price of
571 per share (including share premium of 561 per share), aggregating to 5118,99,99,760. The equity shares were
listed on the National Stock Exchange of India Limited and BSE Limited with effect from July 01, 2025.

The proceeds from the IPO are proposed to be utilised for the following objects:

1. Funding working capital requirements of our Company;

2. Funding capital expenditure requirements towards purchase of equipment/machineries; and

3. General corporate purposes, as disclosed in the Prospectus dated June 26, 2025.

Other than the above, there have been no other material changes or commitments affecting the financial position
of the Company between the end of the financial year and the date of this Report

DISCLOSURES RELATING TO SUBSIDIARY COMPANIES / JOINT VENTURES / ASSOCIATE COMPANIES AND CONSOLIDATED
FINANCIAL STATEMENTS

As on 31 March 2025, the Company does not have any holding or subsidiary company. However, it has one (1)
Associate Company, (1) Group Company and six (6) Joint Ventures, as listed below:

A. Associate Company

Southern Globe Hotels and Resorts Limited

B. Joint Ventures

1. Arvind Techno- Globe JV

Our Company entered into an Agreement dated May 25, 2013 (“JV”) with Arvind Techno Engineers Private
Limited (“ATEPL”) for execution of the following project- ‘Part design and construction of elevated viaduct
and two elevated stations viz Johri Enclave and Shiv Vihar stations including architectural finishing, water
supply, sanitary installation and drainage works of stations from chainage 55,121.184 m to 57,357. 623 m
of line 7 Mukundpur- Yamuna Vihar corridor Contract “CC - 41” of Phase-III Delhi MRTS’, awarded by Delhi
Metro Rail Corporation Limited. The share of ATEPL and our Company is 60% and 40%, respectively.

2. GCPPL SCIPL Consortium

Our Company entered into a Consortium Agreement dated March 25, 2023 (“Consortium”) with
Swadeshi Civil Infrastructure Private Limited (“SCIPL”) for execution of the following project: ‘Construction
of Academic Block, Hostel, Residential Tower, Director’s Residence and External Development works at
National Institute of Technology, Delhi Campus on Design, Engineering, Procurement and Construction
(EPC-Il) Basis’, awarded by Telecommunications Consultants India Limited. GCIPL is subject to certain
obligations including obtaining necessary permissions from statutory/ regulatory authorities required for
executing the project, ensuring payment of workmen’s compensation, compliance with applicable labour
laws (including laws relating to explosives and safety) etc. The share of SCIPL and our Company in the
Consortium is 51% and 49% respectively.

3. M/s. SCL - GCPL JV

Our Company entered into a Joint Bidding Agreement dated June 30, 2022 (“JV”) with Sri SCL Infratech
Limited (“SSIL”) for the purpose of bidding and execution of the following project: ‘Undertaking major
upgradation of Railway Station at Nellore in Vijayawada division of South central Railway on Engineering,
Procurement and Construction (epc) Mode’, issued by the Ministry of Railways, Chief Engineer,
Construction-III, South Central Railway, Secunderabad. The share of SSIL and our Company in the JV
is 60% and 40%, respectively. The JV Parties are jointly and severally responsible for all obligations and
liabilities relating to the project till the completion of the same.

4. KSIB GCPPL Joint Venture LLP ("KSIB CGPPL JV")

Our Company entered into a memorandum of understanding dated September 1, 2022 and LLP agreement
dated January 12, 2023, respectively (“JV”) with M/s. Keystone Infra Build- Partnership firm (“KSIB”) for the
purpose of bidding and execution of the following project: ‘Major upgradation of Ajni Railway Station in
Nagpur Division of Central Railway on Engineering, Procurement and Construction (epc) Mode’, issued
by Rail Land Development Authority, New Delhi. The share of KSIB and our Company in the JV is 74% and
26%, respectively.

5. Globe Civil- Premier Infra JV

Our Company entered into a Joint Venture Agreement dated September 13, 2019 (“JV”) with Premier
Infra Services Private Limited (“PISPL”) for the purpose of bidding and execution of the following project:
‘Construction of 3 nos. Railway bridge on Stilt at Ch 144.804 to 145. 524 (Bridge Length 720m), Ch:150.200
to 150.530 (Bridge Length 330m) and Ch 153.285 to 153.909 (Bridge Length 624m) in the Coastal
Regulation Zone (crz)-I area of Dahanu Detour in connection with construction of Western Dedicated
Freight Corridor Phase-II Vaitarna - Sachin section”, issued by Ircon International Limited. The share of
our Company and PISPL in the JV is 61% and 39%, respectively. The JV Parties shall share the rights
and obligations, risk, cost and expenses, etc. arising out of or in relation to execution of the project in
proportion to their share of participation.

6. KSMB Globe Projects JV

Our Company entered into a Joint Venture Agreement (“JV”) dated January 24, 2024 with K.S.M.
Bashir Mohammad & Sons (“KSMB”) for the purpose of bidding and execution of the following project:
Development of New Civil Enclave at Agra Airport- Construction of New Integrated Terminal Building and
Allied works on Engineering, Procurement and Construction (“EPC”) Mode, issued by the Airports Authority
of India, New Delhi. The share of KSMB and our Company in the JV is 98.50% and 1.50%, respectively.

C. Group Company

Earthcon Systems India Private Limited

The performance highlights of the associate company and joint ventures and their contribution to the overall
performance of the Company during the financial year 2024-25 are provided in Annexure-I to this Report, in
the prescribed format Form AOC-1 pursuant to Section 129(3) of the Companies Act, 2013 and Rule 5 of the
Companies (Accounts) Rules, 2014.

The consolidated financial statements of the Company, prepared in accordance with Ind AS, form part of this
Annual Report and are also available on the Company’s website at www.globecivilprojects.com

In accordance with Section 129(3) of the Companies Act, 2013, Regulations 33 of SEBI (Listing Obligations
and Disclosure Requirements) Regulations, 2015 and applicable Accounting Standards, the Company has
prepared consolidated financial statements of the Company and its subsidiaries, which form part of the
Annual Report. For details, please refer to the Consolidated Financial Statements.

A statement containing the salient features of the financial statement/highlights of performance of our
Associate Company, Group Company and Joint Ventures in the prescribed Form AOC-1 is attached as
Annexure-I to this Report.

In accordance with Section 136 of the Companies Act, 2013, the audited financial statements, including the
consolidated financial statements and related information of the Company and accounts of its Associate
Company, Group Company and Joint Ventures, are available at the company website. These documents will
also be available for inspection during business hours at our registered office.

DIRECTORS AND KEY MANAGERIAL PERSONNEL

As of March 31, 2025, your Company’s Board had seven members comprising of Three Executive Promoter Directors
- Mr. Ved Prakash Khurana Mr. Vipul Khurana Mr. Nipun Khurana and four Independent Directors - Mr. Dayal Sarup
Sachdev, Mr. Radhakrishnan Nagrajan, Mr. Rajender Pal Chandel, Ms. Nalini Shastri Vanjani Independent Woman
Director.

The Executive Promoter Directors viz, Mr. Ved Prakash Khurana (DIN: 00513510) re-appointed as Whole Time Director
of the Company for the period of 3 (Three) years with effect from June 22, 2024, Mr. Vipul Khurana (DIN: 00513522)
re-appointed as Managing Director of the Company for the period of 3 (Three) years with effect from June 22,
2024 and Mr. Nipun Khurana (DIN: 00513517) re-appointed as Managing Director of the Company for the period of
3 (Three) years with effect from June 22, 2024

The four Independent Directors viz, Mr. Dayal Sarup Sachdev (DIN:05111450), Mr. Radhakrishnan Nagrajan (DIN:
00701892), Mr. Rajender Pal Chandel (DIN: 09523927) , Ms. Nalini Shastri Vanjani (DIN:00996242) Independent
Woman Director are hereby appointed as an independent Director’s of the Company not liable to retire by rotation,
for a term of five (05) years, with effect from 16/07/2024 to hold office up to 15/07/2029.”

The details of Board and Committee composition and other details are available in the Corporate Governance
Report, which forms part of this Annual Report.

In terms of the requirement of the Listing Regulations, the Board has identified core skills, expertise, and competencies
of the Directors in the context of your Company’s business for effective functioning. The key skills, expertise and core
competencies of the Board of Directors are detailed in the Corporate Governance Report, which forms part of this
Annual Report.

Re-appointment of Directors retiring by rotation

In accordance with the provisions of Companies Act, 2013 (hereinafter referred as “the Act”) and Articles of
Association of the Company, Mr. Vipul Khurana (DIN: 0513522), Managing Director of the Company will retire
by rotation at the ensuing AGM and being eligible, offers himself for re-appointment. Details related to his re¬
appointment as required to be disclosed under Companies Act/listing Regulations is given in the notice of 23rd
AGM.

Pecuniary relationship or transactions with the Company

During the year under review, the Non-Executive Directors of the Company had no pecuniary relationship or
transactions with the Company, other than sitting fees and reimbursement of expenses incurred by them for the
purpose of attending meetings of the Board/ Committee(s) of the Company.

Declaration by Independent Directors

The Company has received declarations from all the Independent Directors of the Company confirming that they
meet with criteria of independence as prescribed under sub-section (6) of Section 149 of the Act and under
Regulation 16(1) (b) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (hereinafter
referred as “the Listing Regulations").

In the opinion of Board of Directors of the Company, Independent Directors on the Board of Company hold highest
standards of integrity and are highly qualified, recognized and respected individuals in their respective fields. It’s an
optimum mix of expertise (including financial expertise), leadership and professionalism.

Key Managerial Personnel (KMP)

Pursuant to the provisions of Section 203 of the Companies Act, 2013 read with Rules made thereunder following are
designated as Key Managerial Personnel (kmp) of the Company:

• Mr. Ved Prakash Khurana, Chairman & Whole-Time Director;

• Mr. Vipul Khurana, Managing Director;

• Mr. Nipun Khurana, Managing Director;

• Mr. Raghav Aggarwal, Chief Financial Officer (CFO); and

• Mr. Vineet Rattan, Company Secretary & Compliance Officer.

NUMBER OF BOARD MEETINGS

The Board met 16 (Sixteen) times during the year under review. The intervening gap between the meetings did not
exceed 120 days, as prescribed under The Companies Act, 2013 and SEBI Listing Regulations. The details of Board
meetings and the attendance of the Directors are provided in the Corporate Governance Report, which forms part
of this Annual Report.

Independent Directors' Meeting

Pursuant to the requirements of Schedule IV of the Companies Act, 2013 and the SEBI (Listing Obligations and
Disclosure Requirements) Regulations, 2015, separate Meeting of the Independent Directors of the Company was
also held on March 25, 2025, without the presence of Non-Independent Directors and members of the management,
to review the performance of Non-Independent Directors and the Board as a whole, the performance of the
Chairperson of the Company, taking into account the views of Executive Directors, and also to assess the quality,
quantity and timeliness of flow of information between the Company management and the Board.

ANNUAL GENERAL MEETING

During the financial year 2024-25, 22^nd Annual General Meeting of the Company was held on September 30, 2024
at 04:00 P.M. at registered office of the Company situated at D-40, Okhla Industrial Area Phase-I, New Delhi, Delhi,
India, 110020.

COMMITTEES OF THE BOARD

As required under the Companies Act, 2013 and the SEBI Listing Regulations, your Company has constituted various
Statutory Committees as on March 31, 2025 the Board has comprised the following committees/sub-committees.

(a) Audit Committee;

(b) Nomination and Remuneration Committee;

(c) Stakeholders Relationship Committee;

(d) Corporate Social Responsibility Committee;

During the year, all recommendations made by the committees were approved by the Board. A detailed note on
the composition of the Board and its committees, including its terms of reference is provided in the Corporate
Governance Report forming part of this Annual Report.

The composition and terms of reference of all the Committee(s) of the Board of Directors of the Company is in line
with the provisions of the Act and Listing Regulations & there were no changes in the composition of the committees

NOMINATION AND REMUNERATION POLICY

The Board of Directors has framed a policy which lays down a framework in relation to remuneration and
appointment of Directors, Key Managerial Personnel and Senior Management of the Company. The Policy broadly
lays down the guiding principles, philosophy and the basis for payment of remuneration to Executive and Non¬
Executive Directors (by way of sitting fees), Key Managerial Personnel, Senior Management and other employees.
The policy also provides the criteria for determining qualifications, positive attributes and Independence of Director
and criteria for appointment of Key Managerial Personnel / Senior Management and performance evaluation. The
above policy has been posted on the website of the Company at the following link https://www.globecivilprojects.
com/ files/ugd/e97088 a262f4b46dd24f0aad0933044ae57b8f.pdf

BOARD DIVERSITY

Your Company recognizes and embraces the importance of a diverse board in its success. The Board has adopted
the Board Diversity Policy which sets out the approach to the diversity of the Board of Directors. The said Policy is
available on your Company’s website.

DISCLOSURE OF CERTAIN TYPE OF AGREEMENTS BINDING LISTED ENTITY

Pursuant to Regulation 30A(2) of SEBI Listing Regulations, there is no agreement impacting the management or
control of the Company or imposing any restrictions or create any liability upon the Company.

DIRECTORS' RESPONSIBILITY STATEMENT

Pursuant to the provisions of clause (c) of Sub-section (3) of Section 134 of the Companies Act, 2013, your Directors
hereby confirm that they:

(i) Have followed in the preparation of Annual Accounts for the financial year 2024-25, the applicable Accounting
Standards and no material departures have been made for the same;

(ii) Had selected such accounting policies and applied them consistently and made judgments and estimates
that are reasonable and prudent so as to give a true and fair view of the state of affairs of the Company as at
March 31, 2025 and of the profit of the Company for the year ended on that date;

(iii) Had taken proper and sufficient care for the maintenance of adequate accounting records in accordance
with the provisions of the Companies Act, 2013 for safeguarding the assets of the Company and for preventing
and detecting fraud and other irregularities;

(iv) Had prepared the annual accounts on a going concern basis;

(v) Have laid down internal financial controls to be followed by the Company and that such internal financial
controls are adequate and are operating effectively; and

(vi) Have devised proper systems to ensure compliance with the provisions of all applicable laws and that such
system are adequate and operating effectively.

BOARD EVALUATION

In accordance with the Companies Act, 2013 and Regulation 25(3) of SEBI (LODR) Regulations, 2015, Independent
Directors, in a separate meeting without the presence of Non-Independent Directors and Management, evaluated
the performance of the Board, Chairman, and Non-Independent Directors. They also assessed the quality, quantity,
and timeliness of information flow between Management and the Board.

The Board, excluding the concerned Director, evaluated the performance of each Independent Director and
conducted its annual evaluation, including that of individual Directors. The evaluation, based on criteria approved
by the Nomination and Remuneration Committee, covered Board composition, processes, decision-making,
attendance, and discharge of responsibilities.

Performance of individual Directors, including the Chairman, was assessed on parameters such as industry
knowledge, strategic vision, commitment, and time contribution. Independent Directors were additionally evaluated
on their integrity, expertise, and effectiveness in Board deliberations.

STATUTORY AUDITORS

As per provisions of Section 139(1) of the Act, the Company has appointed M/s Jagdish Chand & Co., Chartered
Accountants (ICAI Firm Registration No. 000129N) as Statutory Auditors of the Company for a period of 5 (Five)
years (April 01, 2024 to March 31, 2029 i.e. till the conclusion of the 27^th AGM to be held in the calendar year 2029, in
the AGM of the Company held on September 30, 2024.

STATUTORY AUDITORS' REPORT

Statutory Auditors have expressed their unmodified opinion on the Standalone and Consolidated Financial
Statements and their reports do not contain any qualifications, reservations, adverse remarks. The Notes to the
financial statements referred in the Auditor’s Report are self-explanatory. The Auditor’s Report is enclosed with the
financial statements forming part of this Annual Report.

SECRETARIAL AUDITORS

Pursuant to the provisions of Regulation 24A & other applicable provisions of the SEBI Listing Regulations read with
Section 204 read with Rule 9 of the Companies (Appointment and Remuneration of Managerial Personnel) Rules,
2014, on the recommendation of the Audit Committee, the Board of Directors at their meetings held on May 21, 2025
have approved appointment of M/s Vasisht & Associates, Practising Company Secretaries subject to the approval
of the shareholders as Secretarial Auditors of the Company for a term of 5(Five) consecutive years, to hold office
from April 1, 2025 upto March 31, 2030.

A detailed proposal for appointment of Secretarial auditor forms part of the Notice convening this AGM.
SECRETARIAL AUDIT OF MATERIAL UNLISTED INDIAN SUBSIDIARY

There is no material unlisted Indian subsidiary of the Company as on March 31, 2025 and as such the requirement
under Regulation 24A of the SEBI Listing Regulations regarding the Secretarial Audit of material unlisted Indian
subsidiary is not applicable to the Company for FY 2024-25.

SECRETARIAL AUDIT REPORT

A Secretarial Audit Report for FY 2024-25 given by the Secretarial Auditors in Form No. MR-3 is annexed with this
Report as Annexure-II. There are no qualifications, reservations or adverse remarks made by Secretarial Auditors
in their Report.

SECRETARIAL COMPLIANCE REPORT

The Company was listed on July 01, 2025 therefore, the applicability of SEBI circular no CIR/CFD/CMD1/27/2019
dated February 08, 2019 was not applicable on year ending March 31, 2025

COST AUDITORS

As per Section 148 of the Companies Act, 2013, the Company is required to have the audit of its cost records
conducted by a Cost Accountant in practice.

Pursuant to the provisions of Section 141 read with Section 148 of the Companies Act, 2013 and Rules made thereunder,

M/s. Jain Sharma & Associates, Cost Accountants (Firm Registration No. 000270) has been appointed as the Cost
Auditors of the Company for the year ending March 31, 2025. A resolution seeking approval of the Shareholders
for ratifying the remuneration payable to the Cost Auditors for FY 2025-26 is provided in the Notice of the ensuing
Annual General Meeting.

Moreover Cost audit report for financial year 2024-25 will be filed with the Ministry of Corporate Affairs within
stipulated time period.

INTERNAL AUDIT

The Board of Directors of the Company has appointed M/s Rajnish & Associates as Internal Auditor of the Company,
to audit the function and activities of the Company and to review various operations of the Company; the Company
continued to implement their suggestions and recommendations to improve the control environment.

DETAILS IN RESPECT OF FRAUDS REPORTED BY AUDITORS OTHER THAN THOSE WHICH ARE REPORTABLE TO THE CENTRAL
GOVERNMENT

The Statutory Auditors, Secretarial Auditors and Cost Auditors of the Company have not reported any frauds to
the Audit Committee or to the Board of Directors under Section 143 (12) of the Companies Act, 2013, including rules
made there under.

CORPORATE SOCIAL RESPONSIBILITY (CSR)

Details of the CSR Committee are provided in the Corporate Governance Report, which forms part of this Annual
Report. The CSR policy is available on the Company’s website at the following link https://www.globecivilprojects.
com/ files/ugd/e97088 855334b06e5642a9842242c3b514d85b.pdf. The Annual Report on CSR activities is
annexed and forms part of this report as Annexure - III. During the financial year, your Company has met its CSR
obligations in terms of Section 135 of the Act.

CORPORATE GOVERNANCE REPORT

Your Company is committed to maintain highest standards of corporate governance practices. The Corporate
Governance Report, as stipulated by SEBI Listing Regulations, forms part of this Annual Report along with the required
certificate from a Practicing Company Secretary, regarding compliance of the conditions of corporate governance.

Your Company has formulated and implemented a Code of Conduct for all Board members and senior management
personnel of the Company (“Code of Conduct”), who have affirmed the compliance thereto. The Code of Conduct
is available on the website of your Company and the link for the following is https://www.globecivilprojects.com/
files/ugd/e97088 91d08ae4b3e34aa0839cfeabd06fd795.pdf

MANAGEMENT DISCUSSION AND ANALYSIS

Management Discussion and Analysis for the year as stipulated under Schedule V of SEBI (Listing Obligations and
Disclosure Requirements) Regulations, 2015 as amended is separately given and forms part of this Annual Report
and provides a more detailed analysis on the performance of individual businesses and their outlook.

CONTRACTS OR ARRANGEMENTS WITH RELATED PARTIES

All transactions with related parties are placed before the Audit Committee and Board for its approval. An omnibus
approval from Audit Committee is obtained for the related party transactions which are repetitive in nature. All
transactions with related parties entered into during the year under review were at arm’s length basis and in the
ordinary course of business and in accordance with the provisions of the Act and the rules made thereunder, the
SEBI Listing Regulations and Company’s Policy on Related Party Transactions.

During the year, your company has not entered into any transactions with related parties which could be considered
material in terms of Section 188 of the Act.

Further, the prescribed details of related party transactions of the Company in Form No. AOC-2, in terms of section
134 of the Act read with Rule 8 of the Company (Accounts) Rules, 2014 is given as Annexure-IV to this report.

The Policy on materiality of related party transactions and dealing with related party transactions
may be accessed on the Company’s website at link https://www.globecivilprojects.com/ files/ugd/
f86500 5d2786e04a4641c0881804bae7c37a4f.pdf

Your Directors draw attention of the members to note 46 in the notes to accounts in the Standalone Financial
Statements and to note 46 in the notes to accounts in the Consolidated Financial Statements which sets out
related party disclosures.

DISCLOSURE ON AUDIT COMMITTEE

The Audit Committee as on March 31, 2025 comprises of the following Directors: Mr. Radhakrishnan Nagrajan
(Chairman), Mr. Rajender Pal Chandel and Mr. Vipul Khurana as Members. For more details kindly refer to the
section ‘Committees of the Board-Audit Committee’, in the Corporate Governance Report, which forms part of this
Annual Report.

All recommendations of Audit Committee were accepted by the Board of Directors.

RISK MANAGEMENT

The Company has also formulated the Risk Management Policy, to identify risks and minimize their adverse impact
on business and strives to create transparency which in turn enhances the Company’s competitive advantage.

According to the aforesaid business risk policy, the Company has identified the business risks associated with its
operations and an action plan for its mitigation of the same is put in place. The business risks and its mitigation
have been dealt with in the Management Discussion and Analysis Section of this Annual Report.

INTERNAL CONTROL SYSTEMS AND THEIR ADEQUACY

Your Company maintains adequate internal control system and procedures commensurate with its size and
nature of operations. The internal control systems are designed to provide a reasonable assurance over reliability
in financial reporting, ensure appropriate authorization of transactions, safeguarding the assets of the Company
and prevent misuse/ losses and legal compliances.

The internal control system includes a well-defined delegation of authority and a comprehensive Management
Information System coupled with quarterly reviews of operational and financial performance, a well-structured
budgeting process with regular monitoring of expenses and Internal audit. The Internal Audit reports are periodically
reviewed by the management and the Audit Committee and necessary improvements are undertaken, if required.

During the year, such controls were tested and no reportable material weakness in the design or operation was observed.
WHISTLE BLOWER POLICY/ VIGIL MECHANISM

Your Company has adopted a whistle blower policy and has established the necessary vigil mechanism for
directors and employees in confirmation with Section 177 of the Act and Regulation 22 of SEBI Listing Regulations, to
facilitate reporting of the genuine concerns about unethical or improper activity, without fear of retaliation.

The vigil mechanism of your Company provides for adequate safeguards against victimization of whistle blowers
who avail of the mechanism and also provides for direct access to the Chairman of the Audit Committee in
exceptional cases.

No person has been denied access to the Chairman of the Audit Committee. The Whistle Blower
Policy is available on Company’s website at https://www.globecivilprojects.com/ files/ugd/

f86500 5571a6f6a3e144419c7226aa2de13338.pdf.

During the year, no case of genuine concerns received under this policy.

COMPLIANCE WITH SECRETARIAL STANDARDS

The Company has devised proper systems to ensure compliance with the provisions of all applicable Secretarial
Standards issued by the Institute of Company Secretaries of India (ICSI) and that such systems are adequate and
operating effectively.

POLICY ON PREVENTION, PROHIBITION AND REDRESSAL OF SEXUAL HARASSMENT OF WOMEN AT WORKPLACE

The Company has laid down sexual harassment policy pursuant to provision of Sexual Harassment of Women at
Workplace (Prevention, Prohibition and Redressal) Act, 2013 and Rules made thereunder. The objective of this policy
is to provide protection against sexual harassment of women at workplace and for the prevention and redressal of
complaints of sexual harassment and for matters connected therewith. The Company has zero tolerance on sexual
harassment at workplace. During the financial year 2024-25, no complaint was received under this policy.

COMPLIANCE WITH MATERNITY BENEFIT ACT, 1961

The Company affirms that it has duly complied with all provisions of the Maternity Benefit Act, 1961, and has extended
all statutory benefits to eligible women employees during the year

PARTICULARS OF REMUNERATION OF DIRECTORS/ KMP/ EMPLOYEES

Disclosures pertaining to remuneration and other details as required under Section 197(12) of the Companies Act,
2013 and Rule 5(1), 5(2) and 5(3) of the Companies (Appointment and Remuneration of Managerial Personnel)
Rules, 2014 is attached as Annexure-V to this Report.

PUBLIC DEPOSITS

During the year under review, the Company has not accepted any public deposits under Chapter V of the Companies
Act, 2013 and as such, no amount on account of principal or interest on public deposits was outstanding as of
March 31, 2025.

PARTICULARS OF LOANS, GUARANTEES OR INVESTMENTS UNDER SECTION 186 OF THE COMPANIES ACT, 2013.

Particulars of loans, guarantees and investments under Section 186 of the Companies Act, 2013 as at the end of the
financial year 2024- 25 are provided in the notes to standalone financial statements.

CONSERVATION OF ENERGY, TECHNOLOGY ABSORPTION AND FOREIGN EXCHANGE EARNINGS AND OUTGO

Information pursuant to conservation of energy, technology absorption and foreign exchange earnings and outgo, as
required to be disclosed under the Companies Act, 2013 is annexed as Annexure-VI and forms a part of this report.

ANNUAL RETURN

The copy of the Annual Return of the Company containing the particulars prescribed under section 92 of the
Companies Act, 2013, as they stood on the close of the financial year i.e. March 31, 2024 is uploaded on the
website of the Company and link for the same is https://www.globecivilprojects.com/ files/ugd/f86500
d5ddbdf3bd774d81a01841c861aa528b.pdf

CYBER SECURITY

In view of increased cyber-attack scenarios, the cyber security maturity is reviewed periodically and the processes,
technology controls are being enhanced in-line with the threat scenarios.

Your Company’s technology environment is enabled with real time security monitoring with requisite controls at
various layers starting from end user machines to network, servers, application and the data.

CODE FOR PREVENTION OF INSIDER TRADING

Your Company has adopted a Code of Conduct (“Code”) to regulate, monitor and report trading in Company’s
shares by Company’s designated persons and their immediate relatives as per the requirements under the
Securities and Exchange Board of India (Prohibition of Insider Trading) Regulations, 2015. The Code, inter alia, lays
down the procedures to be followed by designated persons while trading/ dealing in Company’s shares and sharing
Unpublished Price Sensitive Information (“UPSI”). The Code covers Company’s obligation to maintain a digital
database, mechanism for prevention of insider trading and handling of UPSI, and the process to familiarize with
the sensitivity of UPSI. Further, it also includes code for practices and procedures for fair disclosure of unpublished
price sensitive information which has been made available on your Company’s website at the following link
https://www.globecivilprojects.com/ files/ugd/e97088 04accceb99eb43b2bcd0b69c8ld712b2.pdf to Regulate
and for Prevention of Insider Trading.

OTHER INFORMATION

Your Directors state that no disclosure or reporting is required in respect of the following items as there were no
transactions on these items during the year under review or said items are not applicable to the Company:

1. The Managing Director and the Whole Time Directors has not received any remuneration or commission from
any of its subsidiaries.

2. During the year under review, the company has not done any buy back of equity shares.

3. The Disclosure pertaining to explanation for any deviation or variation in connection with certain terms of a
public issue, right issue, preferential issue etc. is not applicable to the Company.

4. No application has been made under the Insolvency and Bankruptcy Code; hence the requirement to disclose
the details of application made or any proceeding pending under the Insolvency and Bankruptcy Code, 2016
(31 of 2016) during the year along with their status as at the end of the financial year is not applicable; and

5. The requirement to disclose the details of difference between amount of the valuation done at the time of one
time settlement and the valuation done while taking loan from the Banks or Financial Institutions along with
the reasons thereof, is not applicable.

6. Your Company does not fall under the category of large corporate, as defined under SEBI vide its circular
SEBI/ho/ DDHS/cir/p/2018/144 dated November 26, 2018, as such no disclosure is required in this regard.

7. During the year under review, there is no revision of financial statements and Directors’ Report of your Company.

8. No political contribution made during the year under review.

ACKNOWLEDGEMENT

The Board places on record its appreciation for the support and continued co-operation extended by all the
customers, vendors, dealers, bankers, regulators and business associates. The Board places on record its
appreciation to all the employees for their dedicated and committed services. Your Directors deeply acknowledge
the continued trust and confidence that the shareholders place in the management and is confident that with their
continued support, the Company will achieve its objectives and emerge stronger in the coming years.

For Globe Civil Projects Limited
(formerly known as Globe Civil
Projects Private Limited)

Place : New Delhi Sd/- Sd/-

Date : September 04, 2025 Ved Prakash Khurana Vipul Khurana

Chairman & Whole Time Director Managing Director