Page 14 - Godrej Properties

Godrej Properties acquires Raj Kapoor's Bungalow in Mumbai for Rs 500 cr

Godrej Properties Ltd on Friday said it has acquired legendary film actor, director, and producer Raj Kapoor's Bungalow at Chembur in Mumbai to develop a luxury housing project. The land was purchased from the Kapoor family, legal heirs of Raj Kapoor, the company said in a regulatory filing. The deal value has not been disclosed. The site is located at Deonar Farm Road, Chembur, Mumbai, adjacent to Tata Institute of Social Sciences (TISS). In May 2019, Godrej Properties had acquired R K Studios in Chembur from the Kapoor family to develop a premium mixed-use project Godrej RKS. The project is expected to be delivered this year. Gaurav Pandey, MD and CEO, Godrej Properties, said, "We are pleased to add this iconic project to our portfolio and are grateful to the Kapoor family for entrusting us with this opportunity." The demand for premium developments has been strong over the past few years, he said. This project will allow us to further strengthen our presence in Chembur, Pand

DLF, Sunteck Realty: Stay cautious; realty index violates key support level

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Godrej Properties adds 15 land parcels with sales potential of Rs 27,500 cr

Seeking to expand business amid strong housing demand, realty firm Godrej Properties has acquired 15 land parcels so far this fiscal with sales potential of Rs 27,500 crore and looks to add more land by March to construct new projects. In an interview with PTI, Godrej Properties Executive Chairman Pirojsha Godrej said the company's new business development -- which means acquisition of land parcels through outright purchases and joint ventures with landowners to build new projects -- will cross at least Rs 30,000 crore in the 2022-23 financial year, double than the annual guidance of Rs 15,000 crore. "We are very happy with the quarter gone by. Operationally, it has been a very strong quarter. It ended up being an extraordinary quarter for business development. As opposed to the full year annual guidance of Rs 15,000 crore, just within the quarter we did Rs 23,000 crore. We are very happy about the outcome," he highlighted. The company has added 15 new projects so far this fiscal wi

Godrej Properties' sales bookings rise 77% to Rs 8,181cr in Apr-Dec period

Realty firm Godrej Properties sales bookings rose 77 per cent year-on-year to Rs 8,181 crore in the April-December period on strong housing demand, and will cross the target of Rs 10,000 crore for the full fiscal, its Executive Chairman Pirojsha Godrej said. The company's sales bookings stood at Rs 4,613 crore in the first nine months of the last financial year. In an interview with PTI, Pirojsha Godrej said: "We are very happy with the quarter gone by. Operationally, it has been a very strong quarter". Sales booking during the October-December period jumped over two-fold to Rs 3,252 crore from Rs 1,541 crore in the year-ago period. "We have already done nearly Rs 8,200 crore of sales bookings in the first three quarters of this fiscal year and hopefully we will definitely cross Rs 10,000 crore annual guidance," Godrej said. The sales bookings in the third quarter were the highest for the company for any quarter ever, Godrej highlighted. Nevertheless, he said, Godrej Properties w

Godrej Properties profit rises 51% to Rs 58.74 crore in December qtr

Realty firm Godrej Properties Ltd on Thursday reported a 51 per cent increase in its consolidated net profit to Rs 58.74 crore for the third quarter ended December 2022. Its net profit stood at Rs 39.02 crore in the year-ago period. The total income declined to Rs 404.58 crore in the third quarter of this fiscal from Rs 466.91 crore in the corresponding period of the previous year, according to a regulatory filing. Godrej Properties has posted a net profit of Rs 159.25 crore during the April-December period of this fiscal from Rs 91.90 crore in the year-ago period. Its total income rose to Rs 1,200.18 crore in the first nine months of this fiscal from Rs 1,063.12 crore a year ago. Godrej Properties is one of the leading real estate developers in the country. It is developing projects mainly in the Mumbai Metropolitan Region, Delhi-NCR, Bengaluru and Pune. Godrej Properties is a part of the business conglomerate Godrej Group.

Godrej Properties buys land in Chennai worth Rs 100 cr for housing project

Godrej Properties, a part of business conglomerate Godrej Group, is one of the leading real estate developers in the country

Godrej Properties buys 60-acre land in Chennai to develop housing project

In a regulatory filing, the company informed that it has purchased the land on an outright basis in the micro market of Oragadam Junction, Chennai

Godrej Properties announces acquisition of 60-acre land parcel in Chennai

The real estate development arm of Godrej Group said it would develop a residential project on the land

Godrej Properties sells over 1 mn sq ft for Rs 435 cr at Ahmedabad project

The company has sold 870 homes with a booking value of approximately Rs 435 crore since the project was launched in October, last year

Godrej Properties buys 9-acre land for Rs 300 cr to build housing project

Godrej Properties has bought a 9-acre land in Gurugram for around Rs 300 crore to develop a housing project. On December 29, the company had informed stock exchanges about acquisition of the land through an outright purchase, but did not mention the deal value. According to market sources, Godrej Properties bought this 9-acre land for Rs 300 crore. The project with a development potential of about 1.6 million square feet area, has an estimated revenue potential of about Rs 2,500 crore. The site is strategically located with easy access from Golf Course Road Extension, also known as Southern Peripheral Road. Early last year, Godrej Properties Executive Chairman Pirojsha Godrej had announced that the company would invest USD 1 billion on future development of projects. It is aggressively acquiring land parcels either outright or in partnership with land owners. Godrej Properties, a part of business conglomerate Godrej Group, is one of the leading real estate developers in the ...

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Godrej Properties buys 9-acre land in Gurugram, sees revenue of Rs 2,500 cr

Golf Course Road Extension will offer 1.6 million square feet of premium residential development

Godrej Properties buys 9-acre land in Gurugram, sees revenue of Rs 2,500 cr

Golf Course Road Extension will offer 1.6 million square feet of premium residential development

Godrej Properties buys 9-acres of land in Gurugram to build Rs 2.5k cr proj

Godrej Properties has bought an about 9-acre land in Gurugram to develop a housing project with sales potential of Rs 2,500 crore. In a regulatory filing on Thursday, the company said it has acquired the land through an outright purchase. It did not mention the deal value and the name of the seller. This project will offer about 1.6 million square feet of premium residential development. The project will have an estimated revenue potential of about Rs 2,500 crore. The site is strategically located with easy access from Golf Course Road Extension, also known as Southern Peripheral Road. Gaurav Pandey, MD & CEO Designate, Godrej Properties, said, Gurugram is an important market for us and we are happy to add this city center land parcel to our portfolio." This project will allow us to significantly increase our market share in Gurugram over the next several years, he added. Sitting on a huge cashpile with plans to invest USD 1 billion, Godrej Properties is acquiring land -- thro

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Godrej properties buys 62-acre land in Kurukshetra; eyes Rs 550 cr revenue

Realty firm Godrej Properties has purchased about 62 acres of land in Kurukshetra, Haryana for over Rs 100 crore to develop a plotted residential project and is targeting around Rs 550 crore revenue from this property. In a regulatory filing, the company informed that this project will offer about 1.4 million square feet of plotted residential development. The company did not mention the total deal value of this land parcel. However, the property brokers said the deal could be around Rs 100 crore. Kurukshetra is a self-sufficient city with good infrastructure consisting of schools, colleges, hospitals and has significant historical and religious importance. Gaurav Pandey, MD & CEO Designate, Godrej Properties, said, the company has entered into Kurukshetra. "Haryana has been a key market for us and we look forward to further strengthen our presence in Haryana with this project," he said. When contacted, a company spokesperson said the project is estimated to generate a sales ...

Godrej Properties buys 62-acre land in Kurukshetra for residential plots

Realty firm Godrej Properties on Monday said it has purchased about 62 acres of land in Kurukshetra, Haryana to develop a plotted residential project. In a regulatory filing, the company informed that this project will offer about 1.4 million square feet of plotted residential development. The company did not mention the total deal value of this land parcel. Kurukshetra is a self-sufficient city with good infrastructure consisting of schools, colleges, hospitals and has significant historical and religious importance. Gaurav Pandey, MD & CEO Designate, Godrej Properties, said, the company has entered into Kurukshetra. "Haryana has been a key market for us and we look forward to further strengthen our presence in Haryana with this project," he said. Earlier this month, Godrej Properties bought 18.6-acre land at Kandivali in Mumbai to develop a premium housing project with an estimated sales revenue of Rs 7,000 crore. Recently, the company partnered with the landowner for joint ..

Godrej Properties eyes Rs 3,000 cr sales revenue from new land in Gurugram

Godrej Properties is expecting around Rs 3,000 crore sales revenue from development of a new housing project in Gurugram. In a regulatory filing, the company said it has "entered into an agreement for development of 14.27 acres of land in Gurugram, Haryana." The development will comprise predominantly premium residential apartments. The proposed development on 14.27-acre land will have an estimated revenue potential of about Rs 3,000 crore, it said. Godrej Properties is expanding aggressively to encash rise in housing demand. It is acquiring land outrightly and also entering into partnership with land owners to develop new projects. Earlier this month, Godrej Properties Executive Chairman Pirojsha Godrej had said, "We have added projects worth Rs 16,500 crore so far this financial year and have already crossed our full-year guidance of Rs 15,000 crore. Given strong further visibility, we will end 2022-23 fiscal much ahead of the target." With the addition of this project, the com

Delay in permissions can't be termed force majeure

The National Commission found that delay was caused due to submission of plans which were not in consonance with the statutory rules and regulations