Godrej Properties raises Rs 60 Bn through QIP

04 Dec 2024 CW Team

In a regulatory filing on Monday, Godrej Properties disclosed that the QIP Placement Committee of its board had approved the issue’s closure. The committee was said to have set the issue price at Rs 2,595 per equity share, reflecting a discount of Rs 132.44 (or 4.86%) against the floor price of Rs 2,727.44 per equity share. Additionally, the allocation of 23,121,387 equity shares to eligible qualified institutional buyers was reportedly approved.

The board of Godrej Properties had previously sanctioned raising up to ?60 billion through securities issuance. Recognised as one of India’s leading real estate developers, the company is reported to have a strong presence in Delhi-NCR, the Mumbai Metropolitan Region (MMR), Pune, and Bengaluru, alongside a recent entry into the Hyderabad market.

The company reportedly achieved record-breaking success in the last fiscal year, with sales bookings rising by 84% to Rs 225.27 billion — the highest among listed real estate firms in 2023-24. For the current fiscal year, Godrej Properties has set a target of Rs 270 billion in sale bookings.

During the April-September period, it was noted that the company’s sales bookings value increased by 89% year-on-year to over Rs 138 billion, marking the highest-ever booking value for the first half of a fiscal year. To support its housing business expansion, Godrej Properties was said to acquire land through outright purchases and form joint development partnerships with landowners.

Reports further indicated that the company had added eight new land parcels in the first half of the fiscal year, representing a total estimated saleable area of around 11 million square feet and a projected booking value potential of approximately Rs 126 billion.

Godrej Properties was reported to have raised ?60 billion by issuing shares to institutional investors through a qualified institutional placement (QIP), as the company sought to expand its business amid robust demand for residential plots and apartments. The QIP issue, launched last week, aimed to secure up to Rs 60 billion. In a regulatory filing on Monday, Godrej Properties disclosed that the QIP Placement Committee of its board had approved the issue’s closure. The committee was said to have set the issue price at Rs 2,595 per equity share, reflecting a discount of Rs 132.44 (or 4.86%) against the floor price of Rs 2,727.44 per equity share. Additionally, the allocation of 23,121,387 equity shares to eligible qualified institutional buyers was reportedly approved. The board of Godrej Properties had previously sanctioned raising up to ?60 billion through securities issuance. Recognised as one of India’s leading real estate developers, the company is reported to have a strong presence in Delhi-NCR, the Mumbai Metropolitan Region (MMR), Pune, and Bengaluru, alongside a recent entry into the Hyderabad market. The company reportedly achieved record-breaking success in the last fiscal year, with sales bookings rising by 84% to Rs 225.27 billion — the highest among listed real estate firms in 2023-24. For the current fiscal year, Godrej Properties has set a target of Rs 270 billion in sale bookings. During the April-September period, it was noted that the company’s sales bookings value increased by 89% year-on-year to over Rs 138 billion, marking the highest-ever booking value for the first half of a fiscal year. To support its housing business expansion, Godrej Properties was said to acquire land through outright purchases and form joint development partnerships with landowners. Reports further indicated that the company had added eight new land parcels in the first half of the fiscal year, representing a total estimated saleable area of around 11 million square feet and a projected booking value potential of approximately Rs 126 billion.

Infrastructure Transport

06 Feb 2026

Lucknow Metro East-West Corridor Consultancy Contract Awarded

The Uttar Pradesh Metro Rail Corporation has awarded the first construction-related consultancy contract for the Lucknow Metro East West Corridor to a joint venture of AYESA Ingenieria Arquitectura SAU and AYESA India Pvt Ltd. The firm was declared the lowest bidder for the Detailed Design Consultant contract for Lucknow Metro Line-2 under Phase 1B and the contract was recommended following the financial bid. The contract is valued at Rs 159.0 million (mn), covering design services for the corridor. Lucknow Metro Line-2 envisages the construction of an 11.165 kilometre corridor connecting Cha..

Infrastructure Urban

06 Feb 2026

Div Com Kashmir Urges Fast Tracking Of Jhelum Water Transport Project

The Divisional Commissioner of Kashmir has called for the fast-tracking of the Jhelum water transport project, urging district administrations and relevant agencies to accelerate planning and clearances. In a meeting convened at the divisional headquarters, the commissioner instructed officials from irrigation, public health engineering and municipal departments to prioritise the project and coordinate survey and design work. The directive emphasised removal of administrative bottlenecks and close monitoring to ensure timely mobilisation of resources and contractors. Officials were told to in..

Infrastructure Urban

06 Feb 2026

Interarch Reports Strong Q3 And Nine Month Results

Interarch Building Solutions Limited reported unaudited results for the third quarter and nine months ended 31 December 2025, recording strong revenue growth driven by execution and a robust order book. Net revenue for the third quarter rose by 43.7 per cent to Rs 5.225 billion (bn), compared with Rs 3.636 bn a year earlier, reflecting heightened demand in pre-engineered building projects. The company’s total order book as at 31 January 2026 stood at Rs 16.85 bn, supporting near-term visibility. EBITDA excluding other income for the quarter increased by 43.2 per cent to Rs 503 million (mn),..