Godrej Properties sells flats worth Rs 2,690 cr in new housing project

Realty firm Godrej Properties Ltd (GPL) has sold flats worth Rs 2,690 crore in its new housing project in Mumbai.

In a regulatory filing on Friday, the company informed that it has sold inventory worth around Rs 2,690 crores in its project 'Godrej Reserve' located in Kandivali, Mumbai.

"Launched within fifteen months of acquiring the land, this is GPL's most successful launch ever in Mumbai in terms of the value and volume of sales achieved," it said.

This project has a developable potential of 3.72 million square feet with an estimated revenue potential of about Rs 7,000 crore.
 

The project has significant unlaunched inventory remaining, which the company plans to sell in the coming years.

Gaurav Pandey, MD & CEO, Godrej Properties, said, "We are delighted with the response to our project, Godrej Reserve. This has now become the best-ever launch in Mumbai residential real estate."

Gordej Properties is one of the leading real estate developers in the country. It has a huge presence in the Mumbai Metropolitan Region (MMR), Delhi-NCR (National Capital Region), Pune and Bengaluru.