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Godrej Properties has bought 5 acres of land in Hyderabad through an auction process and will develop a housing project worth Rs 4,150 crore on this site. In a regulatory filing on Monday, the company stated that it participated in an e-auction conducted by the Hyderabad Metropolitan Development Authority (HMDA) for a land parcel measuring approximately 5 acres in Neopolis, Kokapet. Godrej Properties emerged as the highest bidder, according to the MSTC Ltd. e-tendering portal. The authority will issue the allotment letters after following the due process. "The proposed development on this land is planned as a premium residential project with a saleable area of about 2.5 million sq ft and an estimated revenue potential of around Rs 4,150 crore," the company said. Godrej Properties had acquired a 7.825-acre land parcel in Kukatpally, Hyderabad, in August. After entering the Hyderabad housing market, the company has launched two projects. The company has sold properties worth Rs 2,
Godrej Properties has bought 5 acres of land in Hyderabad through an auction process and will develop a housing project worth Rs 4,150 crore on this site. In a regulatory filing on Monday, the company stated that it participated in an e-auction conducted by the Hyderabad Metropolitan Development Authority (HMDA) for a land parcel measuring approximately 5 acres in Neopolis, Kokapet. Godrej Properties emerged as the highest bidder, according to the MSTC Ltd. e-tendering portal. The authority will issue the allotment letters after following the due process. "The proposed development on this land is planned as a premium residential project with a saleable area of about 2.5 million sq ft and an estimated revenue potential of around Rs 4,150 crore," the company said. Godrej Properties had acquired a 7.825-acre land parcel in Kukatpally, Hyderabad, in August. After entering the Hyderabad housing market, the company has launched two projects. The company has sold properties worth Rs 2,
Godrej Properties continues to be bullish about housing demand and will acquire this fiscal year multiple land parcels with a total revenue potential of around Rs 30,000 crore, a top company official said. Godrej Properties is aggressively acquiring land parcels outright and also partnering land owners to expand its business. In an interview with PTI, Godrej Properties Executive Chairperson Pirojsha Godrej said the company's business development, which means new land acquisition, has been pretty strong during the first six months of this fiscal and the pipeline for the second half also looks attractive. Godrej Properties recently announced that the company has surpassed the business development guidance of Rs 20,000 crore for the current fiscal. Pirojsha said the company keeps business development target conservative to avoid any pressure on the internal team for land acquisitions. "Land market has heated up. But, we should do at least Rs 30,000 crore GDV (gross development value
Realty firm Godrej Properties has acquired 75 acre land in Nagpur to develop a housing project with an estimated revenue of Rs 755 crore. The company will mainly sell housing plots in this upcoming project. In a regulatory filing on Friday, the company informed that it has surpassed Rs 20,000 crore annual target of new business development for this fiscal year after the latest purchase of 75 acres in Nagpur, Maharashtra. In the real estate sector, the new business development means acquisition of land parcels, through outright purchases or tie-ups with land owners, to build projects in future. Listed real estate developers generally disclose the estimated saleable area and revenue potential of land parcels they acquire. Godrej Properties noted that this is the third land acquisition in the city over the past four years. The upcoming project in Nagpur will have an estimated saleable area of around 1.7 million sq ft, with a revenue potential of about Rs 755 crore. Gaurav Pandey,
Realty firm Godrej Properties has acquired 75 acre land in Nagpur to develop a housing project with an estimated revenue of Rs 755 crore. The company will mainly sell housing plots in this upcoming project. In a regulatory filing on Friday, the company informed that it has surpassed Rs 20,000 crore annual target of new business development for this fiscal year after the latest purchase of 75 acres in Nagpur, Maharashtra. In the real estate sector, the new business development means acquisition of land parcels, through outright purchases or tie-ups with land owners, to build projects in future. Listed real estate developers generally disclose the estimated saleable area and revenue potential of land parcels they acquire. Godrej Properties noted that this is the third land acquisition in the city over the past four years. The upcoming project in Nagpur will have an estimated saleable area of around 1.7 million sq ft, with a revenue potential of about Rs 755 crore. Gaurav Pandey,
Realty firm Godrej Properties has acquired a 30-acre land in South Bengaluru to develop a township with an estimated revenue of around Rs 3,500 crore. In October, the company had bought a 26-acre land parcel at Sarjapur, Bengaluru to develop a housing project with an estimated revenue of Rs 1,100 crore. In a regulatory filing on Thursday, the company informed that it has acquired an additional 3.8-acre land parcel, thereby unlocking Rs 2,400 crore of additional revenue and 2 million sq ft of additional development potential. With this acquisition, Godrej Properties Ltd plans a large-scale, premium residential community. The overall gross development value of this 30-acre township will be Rs 3,500 crore. The total development potential is 3 million sq ft area. "The enhanced potential is largely due to higher FSI permissibility across the entire land parcel, allowing the combined 30 acres holding to be master planned as an integrated group housing development township," Godrej ...
Realty firm Godrej Properties has acquired a 30-acre land in South Bengaluru to develop a township with an estimated revenue of around Rs 3,500 crore. In October, the company had bought a 26-acre land parcel at Sarjapur, Bengaluru to develop a housing project with an estimated revenue of Rs 1,100 crore. In a regulatory filing on Thursday, the company informed that it has acquired an additional 3.8-acre land parcel, thereby unlocking Rs 2,400 crore of additional revenue and 2 million sq ft of additional development potential. With this acquisition, Godrej Properties Ltd plans a large-scale, premium residential community. The overall gross development value of this 30-acre township will be Rs 3,500 crore. The total development potential is 3 million sq ft area. "The enhanced potential is largely due to higher FSI permissibility across the entire land parcel, allowing the combined 30 acres holding to be master planned as an integrated group housing development township," Godrej ...
Godrej Properties will launch around Rs 22,000 crore worth of housing units for sale in the second half of this fiscal year to capitalise on strong consumer demand, a top company official said. In an interview with PTI, Godrej Properties Executive Chairperson Pirojsha Godrej said the company had given guidance that it would launch properties worth Rs 40,000 crore and sell units of about Rs 32,500 crore during this fiscal year. "We have launched Rs 18,600 crore worth of properties during the first six months of this fiscal. Our sales bookings stood at nearly Rs 15,600 crore. Basically, we did 47 per cent of the launch guidance and 48 per cent of the booking value target. And typically, both are skewed to the second half. So, I would say, we are well on track for meeting or exceeding both of those numbers," he said. Pirojsha said the launch of its housing project at Worli, Mumbai, is underway and hopes to launch a new project in Bandra by March-end. "I think the overall market is ...
Godrej Properties will launch around Rs 22,000 crore worth of housing units for sale in the second half of this fiscal year to capitalise on strong consumer demand, a top company official said. In an interview with PTI, Godrej Properties Executive Chairperson Pirojsha Godrej said the company had given guidance that it would launch properties worth Rs 40,000 crore and sell units of about Rs 32,500 crore during this fiscal year. "We have launched Rs 18,600 crore worth of properties during the first six months of this fiscal. Our sales bookings stood at nearly Rs 15,600 crore. Basically, we did 47 per cent of the launch guidance and 48 per cent of the booking value target. And typically, both are skewed to the second half. So, I would say, we are well on track for meeting or exceeding both of those numbers," he said. Pirojsha said the launch of its housing project at Worli, Mumbai, is underway and hopes to launch a new project in Bandra by March-end. "I think the overall market is ...
Godrej Properties will meet or may even exceed its pre-sales target of Rs 32,500 crore for this fiscal, as the housing demand environment continues to be "attractive", a top company official said. In an interview with PTI, Godrej Properties Executive Chairperson Pirojsha Godrej exuded confidence that the company would achieve annual guidance across key metrics -- pre-sales or sales bookings, collections from customers, deliveries, new project launches, and land acquisitions. On the company's second quarter performance, he said, "I think, overall market is holding up well. The demand environment continues to be quite attractive". Pirojsha said the company's pre-sales grew 13 per cent in the first six months of this fiscal to Rs 15,587 crore from Rs 13,835 crore in the year-ago period. "We have already achieved about 48 per cent of our full-year guidance. Now, if you look at past years, typically, the second half is always quite a bit stronger than the first half. So, we are very ...
Godrej Properties will meet or may even exceed its pre-sales target of Rs 32,500 crore for this fiscal, as the housing demand environment continues to be "attractive", a top company official said. In an interview with PTI, Godrej Properties Executive Chairperson Pirojsha Godrej exuded confidence that the company would achieve annual guidance across key metrics -- pre-sales or sales bookings, collections from customers, deliveries, new project launches, and land acquisitions. On the company's second quarter performance, he said, "I think, overall market is holding up well. The demand environment continues to be quite attractive". Pirojsha said the company's pre-sales grew 13 per cent in the first six months of this fiscal to Rs 15,587 crore from Rs 13,835 crore in the year-ago period. "We have already achieved about 48 per cent of our full-year guidance. Now, if you look at past years, typically, the second half is always quite a bit stronger than the first half. So, we are very ...
Realty firm Godrej Properties on Thursday reported a 21 per cent increase in its consolidated net profit to Rs 402.99 crore in the second quarter of this fiscal year. Its net profit stood at Rs 333.79 crore in the year-ago period. Total income rose to Rs 1,950.05 crore during July-September period of this fiscal from Rs 1,346.54 crore in the corresponding period of the preceding year, according to a regulatory filing. Godrej Properties is one of the leading real estate developers in the country.