Sameer Sinha, a real estate developer with a history of successful projects in Ahmedabad, India was committed to developing green buildings. First, for an upcoming office project in Mumbai, he began with the financial pro-forma of a baseline (non-green) version of the project. The valuation appeared acceptable. Next, he adjusted some assumptions to simulate the valuation for the “green” version of the same building. Anecdotal evidence suggested adjusting the rental rate and expenses, as well as the development cost. But these did not lead to an improvement in valuation. Rather, the NPV and IRR of the green version appeared sub-par. He contemplated the lacunae in his adjustments. The case sensitises students about various financial implications of green buildings. It suggests that green buildings are not only good to the environment, but they can also lead to substantial financial benefits, several of which are not obvious. The case walks students through the nuances of valuing a commercial real estate asset, and introduces them to the concept of green buildings, and various green building rating systems.