A leading real-estate development company based in Mumbai, Godrej Properties Ltd (GPL) is involved in all activities associated with the development of residential and commercial real estate. The company currently has projects in 10 cities across India. Its in-house team of professionals enables it to not only undertake projects across India, but also partner with domestic and international companies. Even before sustainability and green building concepts became industry buzzwords, Godrej had already built a reputation for its commitment to environmental causes. CII Godrej Green Business Centre, launched in 2004, offers advisory services in the areas of green buildings, energy efficiency, water management, environment management, renewable energy, green business incubation and climate change activities. Nearly 25 per cent of the shares of Godrej & Boyce are held in a trust for investing in environment, healthcare and education. CSR initiatives include the Smile Train - Godrej Memorial Hospital (GMH) Programme to help children from poor families; Table for Two, which is targeted at addressing hunger and malnutrition in the developing world; Teach for India (TFI), a nationwide movement that aims to narrow the education gap in India; and mobile crèches for children of construction workers. Among GPL's many accolades is the Zee Business Pinnacle Award to Planet Godrej for the Best Upcoming Real-estate Project in India in 2006. The project also received the CNBC Awaaz Crisil Credai Award 2009 for the Best Residential Property in the Western Region. GPL was ranked among the Top 10 construction companies in India by CW in 2007; received the Corporate Governance of the Year Award 2008 from Accommodation Times; was ranked 1st in the Construction & Real Estate category in India's Best Companies to Work For 2009, awarded by The Great Place to Work® Institute, India, in partnership with The Economic Times; was ranked one of India's Top 10 Builders by CW in 2009; and received the award for Best Business Practices from Accommodation Times in 2009.
The X Factor
“We are a strong brand with a good track record and a national build. Further, we are a listed entity with an IPO on the BSE and pride ourselves on our strong partnerships with associates and reputed architectural firms.”- Milind Korde, Managing Director.
Our focus is to deliver what we have promised and ensure we bring in the voice of the customer in all our projects. We continuously strive to improve by conducting customer surveys and bringing in new trends.
We focus on good quality, high level of governance, and transparency. Being customer-centric, we also include service standards in the value chain.
Largely and historically, real estate has been unorganised. But in the past several years, there has been a trend towards greater organisational transparency. Also, some real estate companies are now listed, which calls for corporate governance norms. There should be independent directors on the board, which will bring more accountability, clarity and professionalism. The trend is towards greater transparency.
The next decade will be very good for residential housing, in particular for mid-income housing, which is volume-driven. The middle class will increase dramatically in number and this will create strong demand. With emphasis on infrastructure and the scale of projects increasing, we need to ensure that execution is very strong. Quality needs to be maintained and that will be the key driver. The industry should look at volume growth as opportunities increase. As far as possible, pricing should be reasonable.
Completed Projects (2008, 2009):
Residential:• Planet Godrej, Mumbai• Godrej Woodsman Estate, Bengaluru• Godrej Eden Woods - Phase III, Thane• Godrej GVD-I, Kalyan
Commercial:• Godrej Eternia - A, Pune
Residential:• Godrej GVD-II, Kalyan• Godrej Riverside, Kalyan• Godrej Gold County, Bengaluru• Godrej Prakriti, Kolkata• Godrej Garden City, Ahmedabad
Commercial:• Godrej Waterside, Kolkata• Godrej Coliseum, Mumbai• Godrej Genesis, Kolkata• Godrej Genesis, Pune• Godrej Garden City, Ahmedabad• Godrej Eternia, Chandigarh
Landmark Projects:Planet Godrej, Godrej Woodsman Estate, Godrej Prakriti, Godrej Garden City
The VisionGPL aspires to be among the nation's top three real-estate companies, while continuing to be the most trusted name in the industry.
Turnover(Total Income) Rs 456.07 crore as on March 31, 2010
People PowerOver 200
Centres of Operation:
Initially concentrated in Mumbai Metropolitan Region. Later expanded to Pune, Bengaluru, Kolkata, Hyderabad, Ahmedabad, Mangalore, Chandigarh, Chennai, Kochi.