August 4,2020

Panchshil Realty and British Safety Council today announced a new milestone in workplace safety in the corporate real estate sector in India in the context of COVID-19 and safe return to work.

Panchshil Realty has become the first and only real estate group in India and in the entire Asia-Pacific Region to have benchmarked and independently validated its COVID-19 related control measures at its workplaces, against stringent global safety standards as laid down by the British Safety Council.

Following a rigorous auditing process, the British Safety Council's Assurance Statement confirms that at the time of audit, Panchshil Realty has implemented, proper and adequate policies, procedures and arrangements relating to control of COVID-19 within the workplace, across 15 million square feet of its office parks portfolio.

Panchshil Realty's office portfolio in Pune comprises landmark projects like EON Free Zone, World Trade Centre, Business Bay and the International Convention Centre and, its campuses are home to leading global corporations like Allianz, Citibank, Cognizant, Concentrix, Credit Suisse, Deutsche Bank, HSBC, MasterCard, Michelin, T-Systems, UBS, VMWare and Vodafone among many others.

The British Safety Council's Assurance Assessment says that, "Panchshil Realty's senior leadership has demonstrated commitment to manage, prevent and control transmission of COVID-19 and ensure the safe return of employees and tenants to their respective workplaces on lifting of the lockdown."

"Proper health and safety measures commensurate with the nature and scale of operational activities were put in place as early as March 2020, even before the nationwide lockdown was announced. Panchshil has demonstrated suitably effective management of COVID-19 related risks within the workplace and associated operational activities," it adds.

British Safety Council guidance takes account of current global good practice, including information from the Ministry of Health and Family Welfare - Government of India guidelines and WHO.

Panchshil Realty's total completed real estate portfolio is around 23 million square feet with another 20 million square feet under development. Its three business verticals comprise commercial office spaces, hospitality and residential.

A significant chunk of Panchshil Realty's office portfolio is anchored by Blackstone Real Estate Private Equity Fund, sponsored and managed by Blackstone Group LP.