Corporate Governance
At Bharat Nirman Limited, Corporate governance philosophy stems from our belief that corporate governance is an integral element in improving efficiency and inclusive growth as well as enhancing stakeholder's confidence. The corporate governance philosophy is scripted as: “As a good corporate citizen, we at Bharat Nirman is committed to sound corporate practices based on conscience, openness, fairness, professionalism and accountability in building confidence of its various stakeholders in it thereby paving the way for its long term success. ”
We believes in sustainable corporate growth that emanates from the top leadership down through the organization to the various stakeholders which is reflected in its financial system, enhanced brand reputation and improved deliverability. We believe that our company shall go beyond adherence to regulatory framework. Our corporate structure, business, operations and disclosure practices have been strictly aligned to our corporate governance philosophy.
Transparency, accountability, fairness and intensive communication with stakeholders are integral to our functioning. We believe in performance oriented systems and system driven performance. We accord highest priority to these systems and protect the interests of all our stakeholders, particularly the minority stakeholders. We have tried to blend growth and efficiency with governance and ethics. Our board of directors and top management, guided by the mission statement, formulate strategies and policies having focus on optimizing value for various stakeholders like customers, employees, shareholders and the society at large.
Expertise Board drives Bharat Nirman Limited:
The Board of Bharat Nirman Limited, at present, comprises of two full time functional directors and a Managing Director of the company. Our MD and Directors are highly experienced professionals in the fields of construction/infrastructure, real estate development and engineering areas; provide directions to the top management and all of the employees at all levels on tendering, project implementation issues, adoption of systems and best practices in management and oversight of compliance of various other requirements. We believe that the directors and top management bring with them the rich experience, knowledge and practices followed in other companies resulting in imbibing the best practices followed in the industry.
To know the Board of Directors please click here
Clear definition of roles and responsibilities of our Board leading to decentralized decision making:
Our company's framework is designed to enable the board to provide strategic guidelines for the company for the effective over-sight of management. The respective roles and responsibilities of the Board and top management are clearly defined to facilitate accountability to the company as well as its stakeholders. This ensures a balance of authority so that no single individual has unfettered powers.
Code of Business Conduct to promote ethical and responsible decision making:
There is a separate Code of Business Conduct & Ethics policy in place for all of the directors, top management and employees of the Bharat Nirman Limited. This is in alignment with the company's vision and values to achieve the mission and objectives and aims at enhancing ethical and transparent process in managing the affairs of the company.
For detailed Code of Business Conduct & Ethics policy please click here
Partners / Vendors / Contractors relationship management:
Our professional approach to Partners/Vendors/Contractors is an essential, company-wide business strategy we actively put into practice to systematically create and maintains profitable, long-term relationship with them. As a result Bharat Nirman Limited is highly valued among its Partners/Vendors/Contractors for its professionalism. Under its vendor relationship management (VRM) programme, the company has started purchases through its online platform from vendors in all of the operational areas such as steel, cement, metal, day-to-day consumables, machinery, electrical, mechanical, plumbing etc with the explicit objective of overall Indian infrastructure sector growth.
Setting up a sustainable business practice which benefits the whole Indian society:
Bharat Nirman Limited has been a committed and socially responsible corporate citizen since its inception. The company has formulated and adopted a strategic corporate business practice for taking care of all its construction project works. Our key contractors and vendors will execute their respective works in all of the company project areas at PAN India level. The main objective of this motto is to think beyond the construction; mainly to keep all of our contractors and suppliers adhere in mind that it’s not only for money making; most importantly it’s for nation building.
To achieve this motto we believe in two dimensional approaches.
1) Vendor Oriented: As a good business practices company we educate our vendors and contractors in implementing best construction practices to meet specific standards and to be compliant with global norms and stringent quality specifications. We offer fair price to the suppliers and contractors, who are the forefront project completion teams of Bharat Nirman. Thereby we ensure a complete upliftment of Bharat Nirman community and set a high standard of living for them.
2) Customer Oriented: This approach helps us to give maximum monetary as well as quality benefits for our customers. We ensure this by deploying a right contractor/vendor at project works who have with them rich knowledge, experience, machinery, manpower and financially sound who are full-time under monitoring of Bharat Nirman in terms of quality of the construction and to reach project milestones/schedules until successfully completion and handover of the project to the customer.
