Godrej Properties: Rs 300 billion housing projects to launch in FY?25
Real Estate

Godrej Properties: Rs 300 billion housing projects to launch in FY?25

The real estate company Godrej Properties intends to introduce residential projects valued at Rs 300 billion this fiscal year in prominent cities such as Delhi, Gurugram and Noida. This initiative aims to attain a 20% increase in sales bookings, in line with the company's projections. Pirojsha Adi Godrej, the CEO of Godrej Properties, stated that they had provided sales booking guidance of Rs 2,700 billion for the current fiscal year, reflecting a 20% growth from the high base in 2023-24. To capitalise on this demand, he mentioned that the company had planned launches for multiple projects across the Delhi-NCR, Mumbai-Metropolitan Region (MMR), Bengaluru, Pune, and Hyderabad markets. In the previous fiscal year, the company saw a significant increase in sales bookings, rising by 84% to a record of Rs 2,252 billion from Rs 1,223 billion in the preceding year. This marks the highest sales reported by any listed entity for FY'24. As per an investor presentation, Godrej Properties intends to launch projects covering 21.9 million square feet of space this fiscal year, with an estimated sales booking value of Rs 3,000 billion. Pirojsha mentioned that, apart from launches and sales, the company planned to persist in acquiring land parcels for future development and enhance project deliveries. He stated that the substantial business development (land acquisition) carried out in previous years under favourable terms enabled it to increase bookings by 84 % to Rs 2,252 billion in 2023?24 and emerge as the largest publicly listed real estate developer in India by sales. Recently, Godrej Properties announced its highest-ever quarterly profit, with earnings increasing by 14% annually to Rs 4.7 billion in the March quarter. This marked an improvement from a net profit of Rs 4.1 billion in the same period last year. Total income for the fourth quarter of FY24 rose to Rs 19.1 billion, up from Rs 18.3 billion in the corresponding period. In the previous fiscal year, the company delivered 12.5 million square feet of area and aims to increase this figure to 15 million sq ft in 2024-25.

The real estate company Godrej Properties intends to introduce residential projects valued at Rs 300 billion this fiscal year in prominent cities such as Delhi, Gurugram and Noida. This initiative aims to attain a 20% increase in sales bookings, in line with the company's projections. Pirojsha Adi Godrej, the CEO of Godrej Properties, stated that they had provided sales booking guidance of Rs 2,700 billion for the current fiscal year, reflecting a 20% growth from the high base in 2023-24. To capitalise on this demand, he mentioned that the company had planned launches for multiple projects across the Delhi-NCR, Mumbai-Metropolitan Region (MMR), Bengaluru, Pune, and Hyderabad markets. In the previous fiscal year, the company saw a significant increase in sales bookings, rising by 84% to a record of Rs 2,252 billion from Rs 1,223 billion in the preceding year. This marks the highest sales reported by any listed entity for FY'24. As per an investor presentation, Godrej Properties intends to launch projects covering 21.9 million square feet of space this fiscal year, with an estimated sales booking value of Rs 3,000 billion. Pirojsha mentioned that, apart from launches and sales, the company planned to persist in acquiring land parcels for future development and enhance project deliveries. He stated that the substantial business development (land acquisition) carried out in previous years under favourable terms enabled it to increase bookings by 84 % to Rs 2,252 billion in 2023?24 and emerge as the largest publicly listed real estate developer in India by sales. Recently, Godrej Properties announced its highest-ever quarterly profit, with earnings increasing by 14% annually to Rs 4.7 billion in the March quarter. This marked an improvement from a net profit of Rs 4.1 billion in the same period last year. Total income for the fourth quarter of FY24 rose to Rs 19.1 billion, up from Rs 18.3 billion in the corresponding period. In the previous fiscal year, the company delivered 12.5 million square feet of area and aims to increase this figure to 15 million sq ft in 2024-25.

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Real Estate

Godrej Properties plans Rs 30,000 cr housing projects

Godrej Properties, a prominent real estate developer in India, has unveiled ambitious plans to launch housing projects worth a staggering Rs 30,000 crore in the fiscal year 2024-25. This significant investment underscores the company's commitment to expanding its presence in the residential real estate market and meeting the growing demand for quality housing across the country.

The proposed housing projects encompass a diverse range of developments, including luxury apartments, affordable housing, and integrated townships, catering to the varied needs and preferences of homebuyers. Wit..

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Godrej & Boyce, Godrej Properties extend partnership in Vikhroli

Godrej & Boyce, the owner-developer, and Godrej Properties, the development manager, announced that the two companies will continue their Memorandums of Understanding executed from time to time, for development of land in Vikhroli owned by Godrej & Boyce, as and when Godrej & Boyce is desirous of developing the said land. Godrej Construction, a business of Godrej & Boyce, designed and built four phases of Godrej Platinum, an IGBC Platinum rated residential development project with a total constructed area of 1 million square feet, which has been marketed by Godrej Properties and, in March 2024..

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Real Estate

Godrej Properties Sells Flats Worth Rs.26.90 Bn

Godrej Properties, a leading real estate developer, has reported sales amounting to ?26.90 billion from its latest housing project. This achievement underscores the strong demand for residential properties despite market challenges.

The sales performance reflects the resilience of the residential real estate market, which has witnessed steady demand despite economic uncertainties. Factors such as low-interest rates, favourable government policies, and pent-up demand have supported homebuyers' interest in property investments.

Godrej Properties' successful sales in its new housing..

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DLF Launches Luxury Project in Gurugram

DLF, India's leading real estate developer, has unveiled an ambitious luxury housing project in Gurugram, valued at ?2.5 billion. Located in Sectors 76 and 77, the DLF Privana project spans over 116 acres and includes high-rise apartments offering spectacular views of the Aravalli Range.

The latest phase, DLF Privana West, features 795 luxury apartments which sold out within three days of launch, generating around ?550 million. This follows the success of DLF Privana South, which sold 1,113 units for approximately ?720 million earlier in the year. These developments highlight the stron..

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Migsun Group Plans Rs 5 Bn Investment in Greater Noida Projects

Migsun Group, a prominent real estate developer, has unveiled plans to invest Rs 500 crore in four new projects located in Greater Noida. This initiative is part of the company's strategic efforts to enhance its presence and contribute to the burgeoning real estate sector in the region.

The investment will be directed towards the development of residential and commercial properties, aimed at meeting the increasing demand for quality real estate in Greater Noida. These projects are expected to not only expand Migsun Group's portfolio but also generate employment opportunities and stimul..

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