Realty agency Godrej Properties acquired six new land parcels within the July-September quarter to develop housing tasks value Rs 9,650 crore as a part of its growth plan amid robust demand.
Godrej Properties is among the main actual property builders within the nation. It has a major presence in Delhi-NCR, Mumbai Metropolitan Area (MMR), Pune and Bengaluru.
To develop the housing enterprise, Godrej Properties acquires land by way of outright purchases in addition to forming partnerships with landowners for joint growth.
In its newest operational updates for the July-September quarter, Godrej Properties stated it has added 8 new land parcels within the first six months of this fiscal with a complete estimated saleable space of about 11 million sq. toes and complete estimated reserving worth potential of round Rs 12,650 crore.
This included the addition of 6 new land parcels within the second quarter of this fiscal with an anticipated reserving worth of Rs 9,650 crore.
Godrej Properties stated it has already achieved 63 per cent of its annual steering for brand spanking new enterprise growth (land acquisition).
Gaurav Pandey, MD & CEO, Godrej Properties, stated, “Our enterprise growth additions of Rs 12,650 crore in April-September will make sure that we proceed to have a powerful launch pipeline not only for the present 12 months however for years to return”.
This contains a number of tasks on the prestigious Golf Course Street in Gurugram, he stated, including that the corporate has entered the market of Indore just lately.
“We now have constructed a deep understanding throughout the important thing actual property markets in India and are enormously excited by the potential the subsequent a number of years supply for us to ship sustained high-quality efficiency throughout all key working metrics,” Pandey stated.
Godrej Properties’ gross sales bookings rose 3 per cent to just about Rs 5,200 crore within the second quarter of this fiscal on higher housing demand.
That is the best ever Q2 (July-September) reserving worth achieved by Godrej Properties.
In the course of the April-September interval of this fiscal, Godrej Properties’ gross sales reserving worth grew 89 per cent yearly to over Rs 13,800 crore.
That is the highest-ever reserving worth achieved by Godrej Properties in the course of the first half of a fiscal 12 months.
Godrej Properties turned the biggest listed actual property agency final fiscal when it comes to gross sales bookings.
Over the past fiscal, Godrej Properties gross sales bookings jumped 84 per cent to a document Rs 22,527 crore from Rs 12,232 crore within the previous 12 months.
The corporate has given a goal of reaching Rs 27,500 crore value of gross sales bookings within the present 2024-25 monetary 12 months.
