New Delhi, Feb 16: Godrej Properties has successfully acquired 12 land parcels between April and December of this fiscal year, positioning itself to develop housing projects valued at Rs 23,450 crore. The company plans to secure additional land in the current quarter to further grow its operations amid robust consumer demand.
Godrej Properties engages in outright land acquisitions as well as partnerships with landowners as part of its new business development strategy.
In a recent interview with PTI, Executive Chairperson Pirojsha Godrej noted that business development was exceptionally strong in the December quarter.
The company entered new projects with a combined booking potential of nearly Rs 11,000 crore in the third quarter alone, with total business development exceeding Rs 23,000 crore for the period of April to December.
“We had projected a business development target of Rs 20,000 crore, and we have already surpassed our guidance for the entire year,” Pirojsha stated.
According to the latest investor presentation, Godrej Properties has introduced 12 projects during the April-December timeframe, featuring an estimated saleable area of 169 lakh square feet, which carries a potential booking value of Rs 23,450 crore.
When asked about future land acquisitions, Pirojsha mentioned a strong pipeline and ongoing discussions with landowners across several cities. He anticipates that the company may achieve a new business development target of Rs 30,000 crore by year-end.
“In the December quarter, we successfully raised Rs 6,000 crore through Qualified Institutional Placement (QIP). This funding strengthened our balance sheet and enhanced our capacity for growth investments,” he added.
He expressed confidence that the company would meet its sales booking target of Rs 27,000 crore for the current fiscal year, having already achieved property sales worth Rs 22,527 crore in 2023-24. The company recorded pre-sales of Rs 19,281 crore in the first nine months of this fiscal year, compared to Rs 13,008 crore in the same period last year.
Financially, Godrej Properties saw a significant increase in net profit, reaching Rs 1,017.90 crore in April-December 2024-25, up from Rs 254.01 crore in the previous year. Total income rose to Rs 4,285.99 crore, compared to Rs 2,419.40 crore previously.
Godrej Properties stands out as one of the leading real estate developers in India, with a prominent presence in the group housing segment across the Mumbai Metropolitan Region (MMR), Pune, Delhi-NCR, and Bengaluru, and having recently expanded into Hyderabad. The company is also exploring opportunities for plotted developments in tier II cities. (PTI)
