Godrej Properties Acquires 12 Land Parcels to Develop ₹23,450 Cr Housing Projects Amid Rising Demand

Godrej Properties has acquired 12 land parcels between April and December 2024 to develop housing projects valued at ₹23,450 crore. The company plans to continue acquiring more land in the ongoing quarter, as part of its strategy to expand its business amid increasing consumer demand in the real estate sector.

Pirojsha Godrej, Executive Chairperson of Godrej Properties, discussed the strong business development seen during the December quarter. The company signed new projects with a potential booking value of nearly ₹11,000 crore in the third quarter alone. As a result, Godrej Properties exceeded its full-year guidance of ₹20,000 crore for business development, with a total of over ₹23,000 crore in new project value during the April-December period.

Godrej Properties' recent investor presentation outlined that the company has added 12 new projects, covering 169 lakh square feet of saleable area. These projects, once completed, are expected to generate a booking value of ₹23,450 crore. The company continues to hold discussions with landowners across several cities to secure additional land, with expectations that business development will reach ₹30,000 crore by the end of the fiscal year.

Godrej Properties reported a significant increase in net profit, reaching ₹1,017.90 crore during the April-December period of 2024-25, compared to ₹254.01 crore in the same period of the previous year. Total income for the period rose to ₹4,285.99 crore, up from ₹2,419.40 crore the year before.

In addition to land acquisitions, Godrej Properties raised ₹6,000 crore through a Qualified Institutional Placement (QIP) in the December quarter. This capital infusion has strengthened the company’s balance sheet and provided financial flexibility for future investments.

Godrej Properties is confident in meeting its sales bookings target of ₹27,000 crore for the fiscal year. As of the first nine months of 2024-25, the company has recorded pre-sales of ₹19,281 crore, an increase from ₹13,008 crore in the previous year. For the full fiscal year 2023-24, the company’s total sales amounted to ₹22,527 crore.

The company has a significant presence in key markets such as the Mumbai Metropolitan Region, Pune, Delhi-NCR, and Bengaluru. It has also recently expanded into Hyderabad and is considering opportunities in tier II cities for its plotted development projects.

Godrej Properties is continuing its expansion strategy through land acquisitions, strong financial management, and a focus on expanding into new markets. 

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