Godrej Properties

Godrej Properties on Monday said its sales booking rose 56 per cent last fiscal year to an all-time high of Rs 12,232 crore on strong demand for residential properties. In a regulatory filing, Godrej Properties informed that the company achieved its highest ever sales bookings in the fourth quarter as well as the entire 2022-23 financial year. In the fourth quarter, the company clocked sales bookings of Rs 4,051 crore. Its sales bookings stood at Rs 7,861 crore in 2021-22. When contacted, Godrej Properties Executive Chairman Pirojsha Godrej said: "The reason we were able to deliver strong growth in FY23 is that we had a strong portfolio of projects across the country." "For the first time, we sold over Rs 2,000 crore of real estate in each of our four focus markets of Mumbai, NCR, Bengaluru and Pune," he told PTI. Of the total sales bookings last fiscal year, Pirojsha said the housing segment's contribution was 99 per cent. "Our teams on the ground did very well to capitalize on

The management said sales growth for the year was on the back of both an improving project mix as well as strong volume growth of 40 per cent.

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Realty firm Godrej Properties has acquired a 4-acre land parcel in Pune to build a luxury housing project with an estimated revenue potential of Rs 1,000 crore. In a regulatory filing on Saturday, Godrej Properties informed that it has acquired around 4-acre land parcel near Korgaon Park in Pune. The development on this land will primarily be a luxury housing project. "The project will have a developable potential of approximately 7.5 lakh square feet with an estimated revenue potential of approximately Rs 1,000 crore," the company said. The company, however, did not disclose the financial details of the transaction. Gaurav Pandey, the MD and CEO of Godrej Properties, said the demand for luxury homes has remained strong over the past few years. "This will be our first luxury development in the city...," he said. Godrej Properties, the real estate arm of Godrej Group, is one of the leading real estate developers in the country. It mainly focuses on development of housing project

Media reports suggested that stamp duty may be increased by 1% in Maharashtra along with a hike in ready reckoner rates.

LIC hit a life-time low of Rs 562.35, falling below its previous low of Rs 566 touched on February 27, and was down 9% in three weeks.

Godrej Properties, DLF and Mahindra Lifespace Developers were down 3 per cent, while Macrotech Developers (Lodha), Sobha, Oberoi Realty, Indiabulls Real Estate and Prestige Estates fell 1-2 per cent

Godrej Properties Ltd has acquired legendary film actor, director and producer Raj Kapoor's Bungalow at Chembur in Mumbai for around Rs 100 crore to develop a luxury housing project with a sales potential of Rs 500 crore. The land was purchased from the Kapoor family, legal heirs of Raj Kapoor, the company said in a regulatory filing. When contacted, Godrej Properties Executive Chairman Pirojsha Godrej told PTI: "The total size of the land is around 1 acre. We will develop a premium housing project on this land parcel." "The project will have an estimated sales revenue potential of about Rs 500 crore," Pirojsha Godrej said. He did not disclose the deal value citing confidentiality. Sources said the deal value is around Rs 100 crore. When contacted, real estate consultant Anarock Chairman Anuj Puri told PTI: "The market rate of one acre land at Chembur will be Rs 100-110 crore. Chembur is a vibrant residential market with good connectivity to BKC (Bandra Kurla Complex)." Puri said

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

Realty index may slip up to 7 per cent if stays beneath 400 level

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

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

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

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

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

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 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 ...

CLOSING BELL: The NSE Nifty 50 declined 86 points to 18,105, and was up 4.3 per cent for the year 2022. Broader indices - the BSE Midcap and Smallcap outperformed in trades on Friday.

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