Page 10 - Godrej Properties

Godrej Properties surges 8%, hits new high on strong Q4 business update

The company reported highest-ever quarterly sales announced to date by any publicly listed real estate developer in India

Godrej Prop up 8% as it sells over 1K homes in Gurugram for Rs 3,000 crore

Godrej Zenith is Godrej Properties largest residential project in Gurugram. Besides, it recorded a 473-per cent year-on-year increase in sales in Gurugram in FY24

Godrej Properties sells 1,050 luxury homes for over Rs 3K cr in Gurugram

Realty firm Godrej Properties Ltd (GPL) on Monday said it has sold over 1,050 homes worth over Rs 3,000 crore within three days of launch of its new project at Gurugram, in Haryana. This reflects strong sales momentum in the residential segment. Gurugram has seen a number of successful launches of housing projects in the last 18 months, where apartments got sold within a matter of few days. The project 'Godrej Zenith' is located in Sector 89, Gurugram. "This is Godrej Properties' most successful ever launch in terms of the value and volume of sales achieved," the company said in a regulatory filing. This project is GPL's largest residential development in Gurugram. "The company has recorded a 473 per cent YoY (year-on-year) increase in sales in Gurugram in FY24 and has a strong launch pipeline for FY25 which includes new project launches planned in Sector 103, Sector 43, and Sector 54," GPL said. This is the second time in Gurugram, and the fourth time pan India, that GPL has rec

Godrej Properties sells 1,050 luxury homes for over Rs 3K cr in Gurugram

Realty firm Godrej Properties Ltd (GPL) on Monday said it has sold over 1,050 homes worth over Rs 3,000 crore within three days of launch of its new project at Gurugram, in Haryana. This reflects strong sales momentum in the residential segment. Gurugram has seen a number of successful launches of housing projects in the last 18 months, where apartments got sold within a matter of few days. The project 'Godrej Zenith' is located in Sector 89, Gurugram. "This is Godrej Properties' most successful ever launch in terms of the value and volume of sales achieved," the company said in a regulatory filing. This project is GPL's largest residential development in Gurugram. "The company has recorded a 473 per cent YoY (year-on-year) increase in sales in Gurugram in FY24 and has a strong launch pipeline for FY25 which includes new project launches planned in Sector 103, Sector 43, and Sector 54," GPL said. This is the second time in Gurugram, and the fourth time pan India, that GPL has rec

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 presenc

Godrej Properties buys land in Hyderabad for Rs 1,300 cr housing project

This is the company's second land acquisition in Hyderabad, which will take the overall booking value potential added in the city to Rs 4,800 crore

Godrej Properties buys 3 acres in Hyderabad for Rs 1,300 cr housing project

Realty firm Godrej Properties Ltd on Thursday said it has bought around 3-acre land in Hyderabad to develop a housing project with an estimated revenue potential of Rs 1,300 crore. Last month, Godrej Properties forayed into the Hyderabad property market by purchasing 12.5-acre land for Rs 350 crore to develop a housing project having Rs 3,500 crore revenue potential. In a regulatory filing, the company said this is the second land acquisition in Hyderabad. The total development potential on this land is around 1.2 million (12 lakh) square feet of saleable area comprising primarily premium residential apartments. The company expects to generate revenue worth Rs 1,300 crore from this upcoming new project. Godrej Properties did not name the seller and also the deal value of this new land acquisition. Godrej Properties said that this strategic acquisition is in line with its strategy of developing high-quality residential projects across India's leading real estate markets. The land

Eyeing two-fold growth in 3 yrs, Godrej Locks invests in digital solutions

Godrej Locks and Architectural Fittings and Systems (GLAFS) is aiming to achieve 2-fold growth over the next three years, as it is betting big on digital locks, a segment showing promising trends in both residential and commercial spaces, a senior company official said. The architectural solutions and fittings segment now contributes to almost 40 per cent of the national turnover expected to reach over Rs 1,000 crore this year, Shyam Motwani, Business Head, Godrej Locks and Architectural Fittings and Systems, told reporters in Panaji last week. Motwani was speaking during the third edition of the Godrej Value Co-Creators Club (GVCC) awards, known as The GEEVEES, which celebrates creativity, innovation, and sustainability in design. Motwani also emphasized the importance of the architect and interior design community, stating, "we want to celebrate the efforts of these value co-creators who play a crucial role in enhancing the functionality and aesthetics of our living ...

Godrej Properties buys plots with Rs 20K cr revenue potential this fiscal

To expand business amid strong housing demand, realty firm Godrej Properties Ltd has acquired multiple land parcels so far this fiscal that have the potential to generate revenue of around Rs 20,000 crore. Godrej Properties has surpassed the guidance for the 2023-24 fiscal to achieve Rs 15,000 crore worth new business development, which means adding land parcels through outright purchases and partnerships with landowners. With the acquisition of two land parcels earlier this week, Godrej Properties Managing Director and CEO Gaurav Pandey said the company has already achieved the annual guidance of new business development of Rs 15,000 crore. "We added new projects worth Rs 8,425 crore in the first nine months of this fiscal," Pandey said. In the current quarter, the company has done two outright land purchases in Hyderabad and Noida, while entering into a joint venture in Bengaluru. These three new acquisitions will help generate cumulative revenue of around Rs 11,500 crore, takin

Godrej Properties buys Rs 506 cr land in Noida for Rs 3k cr housing project

Realty firm Godrej Properties Ltd has bought 6.46-acre land in Noida for around Rs 500 crore to develop a housing project with an estimated revenue of Rs 3,000 crore, as part of its expansion plan to tap rising demand. In a regulatory filing on Tuesday, the company informed it has been "declared the highest bidder and has secured the allotment letter to develop a prime land parcel in Noida through an e-auction conducted by the NOIDA development authority." Spread over 6.46 acres, the land is located in Sector 44, Noida. The company did not divulge the deal value, but sources said the company bought this land for Rs 506 crore. "The land parcel will offer around 1.4 million (14 lakh) square feet of development potential and an estimated revenue potential of around Rs 3,000 crore," Godrej Properties said, adding that this will be the company's sixth project in Noida. "We have witnessed strong demand for our existing projects in Noida and this project will further strengthen our ...

Why shares of Godrej Properties will be on investor radar today? Check here

The company has entered into definitive agreements to develop a township project on a 62 acre land parcel in North Bengaluru

Godrej Properties buys land in Hyderabad for Rs 3,500 cr housing project

Realty firm Godrej Properties Ltd on Wednesday said it has bought 12.5-acre land in Hyderabad to develop a housing project having Rs 3,500 crore revenue potential. This marks the company's foray into the Hyderabad property market. In a regulatory filing, Godrej Properties informed that it has acquired 12.5-acre of land at Rajendra Nagar in Hyderabad. "The development on this land is estimated to have a potential of around 4 million square feet of saleable area comprising primarily premium residential apartments of various configurations with an estimated revenue potential of about Rs 3,500 crore," the company said. Godrej Properties said that Hyderabad would be an important market for the company. Godrej Properties has a major presence in the Mumbai Metropolitan Region (MMR), Pune, Delhi-NCR (National Capital Regions), and Bengaluru. Gaurav Pandey, MD, and CEO of Godrej Properties, said the company is entering Hyderabad, which is amongst the largest and fastest growing residentia

'Godrej Properties to beat FY24 guidance, sale bookings to hit Rs 18k cr'

Godrej Properties' sale bookings are likely to rise 50 per cent annually to over Rs 18,000 crore this fiscal year, beating the annual guidance on strong demand for its residential projects. In an interview with PTI, Executive Chairperson Pirojsha Godrej said the company is hopeful of selling properties of more than Rs 5,000 crore during January-March period of this fiscal year, repeating the performance of the previous two quarters. The real estate arm of Godrej Group had sold properties worth Rs 12,232 crore in 2022-23 and had given sales guidance of Rs 14,000 crore for the current fiscal. "We have crossed last year bookings number already in the first nine months of this fiscal and expect to go well past our full-year guidance. Overall we are happy with what is going from an operational perspective and hoping for a strong end to this fiscal year," said Pirojsha. "We have done Rs 5,000 crore plus sales bookings in the last two quarters. We hope to do that again in the fourth ...

Godrej Properties Q3 results: Profit rises 11% to Rs 63 cr; bookings up 76%

Godrej Properties on Tuesday reported an 11 per cent increase in its consolidated net profit to Rs 62.72 crore in the December quarter, while sales bookings grew 76 per cent annually to Rs 5,720 crore during the period on better housing demand. The realty firm's net profit stood at Rs 56.40 crore in the year-ago period. Total income rose to Rs 548.31 crore in the third quarter of this fiscal year from Rs 404.58 crore in the corresponding period of the previous year, according to a regulatory filing. Godrej Properties said its sales bookings grew by 76 per cent Year-on-Year (YoY) to Rs 5,720 crore in the October-December period. In the first nine months of this fiscal, sales bookings rose 59 per cent YoY to Rs 13,008 crore. "Booking value in the first nine months of 2023-24 was 106 per cent of booking value for the entire FY'23, which was the company's previous best-ever year." Godrej Properties, which is part of business conglomerate Godrej Group, is one of the leading real estate

Jamshyd Godrej resigns as non-executive director of Godrej Properties

Realty firm Godrej Properties on Tuesday said that Jamshyd Godrej has resigned as the non-executive director with effect from January 24, having attained the age of 75 years. The effective date of resignation is January 24. In a regulatory filing, Godrej Properties informed that "Jamshyd Godrej, Non- Executive Non-Independent Director of the company has tendered his resignation from directorship of the company, having attained the age of 75 years, with effect from January 24, 2024". The Board of Directors of the company have taken note of resignation of directorship of Jamshyd Godrej, who is member of the Godrej family. "The Board of Directors places on record its appreciation for the valuable contribution, guidance and support provided by him during his association of over 33 years as the 'Director' of the company," the filing said. He has been serving as the director of the company since April 25, 1990. Mumbai-based Godrej Properties is one of the leading real estate developers

Stocks to Watch on Jan 17: Asian Paints, HDFC Bank, LTTS, Godrej Prop, LTIM

Stocks to watch on Wednesday, January 17, 2024: HDFC Bank reported a 34 per cent jump in its standalone net profit to Rs 16,373 crore for Q3FY24, topping estimates by over 1 percentage point

Godrej Properties buys 4-acre land parcel in North-West Bengaluru

The recent project by Godrej Properties is estimated to have a developable potential of approximately 0.7 million square feet of the saleable area

Slew of launches, robust pipeline to drive growth for Godrej Properties

With inventory levels still declining, and pricing strong, developers are pushing for new launches in 3Q to capitalize on the demand, says Jefferies Research

Godrej Properties sells more than 600 flats for Rs 2,600 cr in Gurugram

Godrej Properties Ltd on Tuesday said it has sold more than 600 flats in its new luxury housing project at Gurugram, Haryana. In a regulatory filing, the company said it has "sold inventory worth over Rs 2,600 crore in its project Godrej Aristocrat, located in Sector 49 on Golf Course Extension Road, Gurugram. " The company will develop nearly 750 apartments in this 9.5-acre housing project. The starting price is around Rs 4 crore per unit. Godrej Properties said this is its most successful launch ever in terms of the value of sales achieved, surpassing the previous best of over Rs 2,000 crore at its project Godrej Tropical Isle in Noida last quarter. MD & CEO Gaurav Pandey said, "Gurugram is an extremely important market for Godrej Properties. We hope to launch four new projects in Gurugram in 2024..." Godrej Properties, the real estate arm of Godrej Group, is one of the leading developers in the country. During April-September 2023-24, Godrej Properties achieved 48 per cent ...

Godrej Properties sells more than 600 flats for Rs 2,600 cr in Gurugram

Godrej Properties Ltd on Tuesday said it has sold more than 600 flats in its new luxury housing project at Gurugram, Haryana. In a regulatory filing, the company said it has "sold inventory worth over Rs 2,600 crore in its project Godrej Aristocrat, located in Sector 49 on Golf Course Extension Road, Gurugram. " The company will develop nearly 750 apartments in this 9.5-acre housing project. The starting price is around Rs 4 crore per unit. Godrej Properties said this is its most successful launch ever in terms of the value of sales achieved, surpassing the previous best of over Rs 2,000 crore at its project Godrej Tropical Isle in Noida last quarter. MD & CEO Gaurav Pandey said, "Gurugram is an extremely important market for Godrej Properties. We hope to launch four new projects in Gurugram in 2024..." Godrej Properties, the real estate arm of Godrej Group, is one of the leading developers in the country. During April-September 2023-24, Godrej Properties achieved 48 per cent ...