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Realty player Godrej Properties today said it plans to launch 15-16 residential projects in the current fiscal.
"We are upbeat about revival of the sector. Because of the slowdown in last few years, some of our project launches which were delayed we plan to launch them this fiscal," company's Managing Director and CEO Pirojsha Godrej told reporters here.
The company may launch 15-16 residential projects this fiscal, he said.
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"While some will be the next phases of the current projects, some will be new launches. We may launch new projects in markets like Bangalore, NCR and Pune, while the next phases launch will be in Kolkata, Nagpur and Mumbai," he said.
"The new launches will be developed on joint development model," he said.
The company added one new project in Gurgaon with 1.6 million sq ft of saleable area.
The city-based company had reported a net profit of Rs 39.47 crore in the April-June quarter of FY'14.
For Q1 FY15, GPL's total revenues increased 48.57 per cent to Rs 362.93 crore from Rs 244.28 crore in the corresponding period last fiscal.
Pirojsha further said due to improvement in the overall sentiment in the real estate sector, it is getting good response for its new project launches.
"We look forward to sustaining the momentum in the year ahead," he said, adding, "We also expect realisations to improve in the medium term."
The company recorded 141 per cent growth in volume and 260 per cent growth in value of residential sales, a company release said.
