ITC Limited is a multi-business conglomerate that has, among its business portfolio Agri-Business, that has grown since its inception in 1990 to be one of Indias largest exporters of agricultural products, with core competencies in select commodities like feed ingredients, food grains, marine products, processed fruits, contributing 56% of nearly US$ 5.4 billion of ITCs foreign exchange earnings over the last ten years (2013). However, the very nature of the business makes it highly dependent on water, a scarce natural resource. Infact, in a research done by the United Nations Population Fund (November 6, 2003), as much as two-thirds of the worlds population is predicted to be under high water stress in 2025. To meet these qualms, ITC has formulated an innovative model - the Soil and Moisture Conservation Programme. This Situational Case Study, targeted towards management students, studying Corporate Governance, Strategic Management, Business Environment, Business Policy, aims to identify the embedded sustainability model of ITCs Agri-business division, analyse it in terms of its challenges and impact, and initiate discussion about Corporate Sustainability vis-a-vis Corporate Social Responsibility (CSR). This original work may also be undertaken for developmental related workshops/ training programmes for students and working professionals of innovation, CSR, sustainability and shared, among others, in various Chambers of Commerce and Academic forums on the same. It is, however, not intended to serve as an endorsement, source of data, or illustration of effective or ineffective management. Certain names and information could have been disguised for confidentiality.