With Rs 3,000 cr cash in hand, Godrej eyes properties in prime locations

Their strategy is currently contrarian to the market, where developers are cutting on launches and preferring to clear existing stock, to generate cash and repay dues.

It is filled with what is now a rare commodity in real estate — cash. With this advantage, Godrej Group’s real estate arm, Godrej Properties, is looking at buying land in prime locations, investing in development management contracts (DMs) and do a record number oi launches.
 
In June, it raised Rs 2,100 crore through Qualified Institutional Placement, only the second realty developer to do that this year.   Early this month, the company announced a joint venture (JV) with a local developer for a housing project in Navi Mumbai — it will develop a 7.5-million sq ft project on a