Page 15 - Godrej Properties

Godrej Properties adds 8 new projects worth Rs 16,500 cr so far in FY23

Enthused by strong housing demand, Godrej Properties is aggressively acquiring land for future development and has added eight new projects so far this fiscal with an estimated revenue potential of Rs 16,500 crore. With four months still left in 2022-23 financial year, Godrej Properties Executive Chairman Pirojsha Godrej is hopeful that the company will add many more land parcels in its portfolio by March. The company is in discussions with multiple landowners for acquisition of land, either outrightly or by entering into joint development agreements (JDAs). "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 the 2022-23 fiscal much ahead of the target," Pirojsha Godrej told PTI. He did not share the revised target for the new business development for the current fiscal. Pirojsha sounded extremely bullish on sales bookings and new land acquisitions

Godrej Properties buys 18.6 acre land in Mumbai to build luxury homes

Godrej Properties has bought an 18.6 acre land parcel at Kandivali, in Mumbai for around Rs 750 crore to develop a luxury housing project. On Friday, Godrej Properties informed about the land transaction but did not disclose the total deal value. Market sources and property consultants said the land deal was struck at around Rs 750 crore. Godrej Properties, which is part of business conglomerate Godrej Group, is one of the leading real estate companies in the country. The company has been aggressively buying land outrightly and also entering into joint development agreements (JDAs) with landowners to create future development pipelines. As per the regulatory filing, Godrej Properties expects sales revenue of about Rs 7,000 crore from this upcoming 18.6-acre project, which would have a developable potential of about 3.72 million square feet. The project will comprise primarily premium residential apartments with supporting retail spaces. Godrej Properties highlighted that this is

Chris Wood rejigs India portfolio; adds Macrotech Developers, Adani Ports

In terms of sectors, Wood remains bullish on the real estate sector and suggests the Indian realty market to be one of Asia's hottest investment bets, besides Singapore

Godrej Properties buys 18.6 acres land in M'bai; eyes Rs 7Kcr sales revenue

Godrej Properties Ltd on Friday said it has bought 18.6 acre land at Kandivali in Mumbai to develop a premium housing project and expects sales revenue of about Rs 7,000 crore. In a regulatory filing, the company informed that the project would have a developable potential of about 3.72 million square feet with an estimated revenue potential of around Rs 7,000 crore. The project will comprise primarily premium residential apartments with supporting retail spaces. This will be one of the company's largest residential developments, and it significantly strengthens the firm's presence in the western suburbs of Mumbai. Godrej Properties highlighted that this is the 8th project addition so far this financial year and "takes the cumulative expected booking value from projects added in FY23 to approximately Rs 16,500 crore." Godrej Properties, one of the leading real estate developers in the country, had given a full year guidance of adding projects with a booking value potential of Rs .

Stocks to Watch: Hero MotoCorp, Castrol, Tata Consumer, HFCL, Bikaji Foods

Stocks to Watch Today: Bikaji Foods, Castrol, Hero MotoCorp, Godrej Properties, Tat Consumer, pharma and insurance related shares are likely to be in focus on Monday.

Godrej Properties to launch Rs 8,000 cr housing project in Delhi by March

Godrej Properties expects to launch a luxury housing project at Ashok Vihar in the national capital in March quarter and is eyeing Rs 8,000 crore of sales revenue from this property. It had in February 2020 acquired a nearly 27-acre land in the national capital for Rs 1,359 crore to develop a luxury housing project. The land parcel belonged to Rail Land Development Authority (RLDA). In an interview with PTI, Godrej Properties Executive Chairman Pirojsha Godrej said the company is still awaiting the final approval to start the work and sales of its upcoming housing project at Ashok Vihar. "There has been a good progress on the approvals. We are still hoping for a Q4 launch (January-March)," he said. The total development potential of the Ashok Vihar project would be around 4 million square feet and the company is eyeing sales of Rs 8,000 crore, said Pirojsha Godrej. "I am very very confident about this project. Quality of the land is so good because of those three parks in the (Ash

Godrej Properties highest bidder for Noida land parcels with Rs 377-cr bid

Realty firm Godrej Properties Ltd on Saturday said it has been declared as the highest bidder for two adjacent land parcels in Noida with a bid of Rs 377 crore. The company said in a regulatory filing that it has been declared as highest bidder as per the e-tendering portal of SBI, which facilitated the e-auction on behalf of Noida Authority. The company will develop residential group housing on the adjacent land parcels located in Sector 146, Noida. Spread over 12.4 acres, the land parcels will offer about 3.2 million square feet of development potential. Mohit Malhotra, MD and CEO, Godrej Properties, said, "We have witnessed strong demand for our existing projects in Noida and these projects will further strengthen our development portfolio in NCR (National Capital Region). This fits well with our strategy of deepening our presence in key micro markets across India's leading cities." Godrej Properties is one of the leading real estate developers in the country.

Godrej Properties net profit up 54% to Rs 55 cr, net income grows 13%

Company says it has added 6 new projects with a total saleable area of 6.34 million sq ft

Godrej Properties Q2 profit rises 54% to Rs 54.96 crore on higher income

Realty firm Godrej Properties on Wednesday reported a 54 per cent increase in its consolidated net profit to Rs 54.96 crore for the quarter ended September on higher income. Its net profit stood at Rs 35.73 crore in the year-ago period. The total income also rose to Rs 369.20 crore in the second quarter of this fiscal from Rs 334.22 crore a year ago, according to a regulatory filing. Its sales bookings fell 6 per cent to Rs 2,409 crore in the July-September period against Rs 2,574 crore in the year-ago period. During the April-September period of this fiscal, the sales bookings rose 60 per cent to Rs 4,929 crore from Rs 3,072 crore in the corresponding period of the previous year. Pirojsha Godrej, Executive Chairman, of Godrej Properties Ltd, said: "While the global macroeconomic environment deteriorated in the second quarter, India's economy continues to outperform and residential real estate demand continues to remain robust". "At the halfway mark of the financial year, we are

Godrej Properties acquires 12 acres in Pune to build housing project

Realty firm Godrej Properties has acquired 12 acres of land in Pune for development of a housing project that has an estimated sales revenue potential of about Rs 2,000 crore. According to a regulatory filing, the company has, on an outright basis, acquired a 12-acre land parcel in Mundhwa-East, Pune. The development on this land will primarily be for a premium group housing project. The project will have a developable potential of approximately 2.2 million square feet with an estimated revenue potential of around Rs 2,000 crore, it added. Mohit Malhotra, MD & CEO, Godrej Properties, said, "Mundhwa is an important micromarket in Pune and we are happy to add this land parcel to our portfolio. This will further expand our presence in Pune and fits with our strategy of deepening our presence in established micro markets across India's leading cities." Godrej Properties, which is part of business conglomerate Goderj group, is one of the leading real estate developers of the ...

Godrej Properties buys 12 acres land in Pune to build housing project

Realty firm Godrej Properties on Tuesday said it has acquired 12 acres of land in Pune for development of a housing project that has an estimated sales revenue potential of about Rs 2,000 crore. According to a regulatory filing, the company has, on outright basis, acquired a 12-acre land parcel in Mundhwa-East, Pune. The development on this land will primarily be for a premium group housing project. The project will have a developable potential of approximately 2.2 million square feet with an estimated revenue potential of approximately Rs 2,000 crore, it added. Mohit Malhotra, MD & CEO, Godrej Properties, said, "Mundhwa is an important micromarket in Pune and we are happy to add this land parcel to our portfolio. This will further expand our presence in Pune and fits with our strategy of deepening our presence in established micro markets across India's leading cities." Godrej Properties, which is part of business conglomerate Goderj group, is one of the leading real estate ...

Upbeat housing demand to lift realty stocks despite rate hikes: Analysts

While rising interest rates are expected to hamper affordability among buyers, analysts expect the underlying need for homeownership to remain strong, which would buoy housing sales going ahead

Godrej Properties eyes Rs 8k-cr sales revenue from housing project in Delhi

Realty firm Godrej Properties s waiting for some pending government approvals to launch this 27-acre luxury residential project in Delhi-NCR, its best performing market last fiscal

Godrej Properties aims to add new projects worth Rs 15,000 cr in FY'23

Godrej Properties is looking to add new housing projects worth about Rs 15,000 crore this fiscal year by purchasing land outright and by forming joint ventures with landowners

Weak Q1 cash flows, debt increase a worry for Godrej Properties

This, despite sales bookings and launch pipeline remaining robust

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Stocks to Watch today: Uber has decided to put its entire 7.8 per cent stake in Zomato on the block, according to sources.

Godrej Properties Q1 profit nearly triples to Rs 46 cr; bookings up 5 times

Gaurav Pandey will become the new MD and CEO of the Mumbai-based developer from January 1 next year

Godrej Properties MD Mohit Malhotra resigns; Gaurav Pandey to be new chief

Realty firm Godrej Properties' MD and CEO Mohit Malhotra has resigned from the company, and Gaurav Pandey will succeed him with effect from January 1 next year

Sensex ends volatile day 21 pts higher; PSB index surges 3%, Zomato 20%

CLOSING BELL: losses in HDFC twins, ICICI Bank, Infosys, L&T, and Bharti Airtel nearly balanced gains in Kotak Bank, State Bank of India, Hindustan Unilever (HUL), Asian Paints, and Bajaj Finance

Godrej Properties buys land parcel in Mumbai for its luxury housing project

Real estate firm Godrej Properties on Monday said it has acquired 0.5 acres of land in Mumbai to develop a luxury housing project with an estimated sales value of Rs 1,200 crore. In a regulatory filing, the company informed that it has bought a land parcel to develop a luxury project near Carmichael Road in Mumbai. The land parcel, spread across 0.5 acres, was purchased from the Karam Chand Thapar (KCT) group. The new project will have an estimated booking value potential of approximately Rs 1,200 crore, the company said. "The demand for luxury realty has been strong over the past few years and this location affords us the opportunity to create a landmark boutique luxury residential development," said Mohit Malhotra, MD & CEO, Godrej Properties. Varun Thapar, Vice Chairman and Executive Director - KCT Group, said Indian City Properties Ltd, the real estate arm of the KCT Group, owned this prime land asset in South Mumbai for nearly seven decades. Mumbai-based Godrej Properties is