Godrej Properties acquires 6 land parcels in Jul-Sep to build projects worth Rs 9,650 crore

Realty steadfast Godrej Properties acquired six caller onshore parcels successful the July-September 4th to make lodging projects worthy Rs 9,650 crore arsenic portion of its enlargement program amid beardown demand.

Godrej Properties is 1 of the starring existent property developers successful the country. It has a important beingness successful Delhi-NCR, Mumbai Metropolitan Region (MMR), Pune and Bengaluru.

To grow the lodging business, Godrej Properties acquires onshore done outright purchases arsenic good arsenic forming partnerships with landowners for associated development.

In its latest operational updates for the July-September quarter, Godrej Properties said it has added 8 caller onshore parcels successful the archetypal six months of this fiscal with a full estimated saleable country of astir 11 cardinal quadrate feet and full estimated booking worth imaginable of astir Rs 12,650 crore.

This included the summation of 6 caller onshore parcels successful the 2nd 4th of this fiscal with an expected booking worth of Rs 9,650 crore.

Godrej Properties said it has already achieved 63 per cent of its yearly guidance for caller concern improvement (land acquisition).

Gaurav Pandey, MD & CEO, Godrej Properties, said, "Our concern improvement additions of Rs 12,650 crore successful April-September volition guarantee that we proceed to person a beardown motorboat pipeline not conscionable for the existent twelvemonth but for years to come".

This includes respective projects astatine the prestigious Golf Course Road successful Gurugram, helium said, adding that the institution has entered the marketplace of Indore recently.

"We person built a heavy knowing crossed the cardinal existent property markets successful India and are greatly excited by the imaginable the adjacent respective years connection for america to present sustained high-quality show crossed each cardinal operating metrics," Pandey said.

Godrej Properties' income bookings roseate 3 per cent to astir Rs 5,200 crore successful the 2nd 4th of this fiscal connected amended lodging demand.

This is the highest ever Q2 (July-September) booking worth achieved by Godrej Properties.

During the April-September play of this fiscal, Godrej Properties' income booking worth grew 89 per cent annually to implicit Rs 13,800 crore.

This is the highest-ever booking worth achieved by Godrej Properties during the archetypal fractional of a fiscal year.

Godrej Properties became the largest listed existent property steadfast past fiscal successful presumption of income bookings.

During the past fiscal, Godrej Properties income bookings jumped 84 per cent to a grounds Rs 22,527 crore from Rs 12,232 crore successful the preceding year.

The institution has fixed a people of achieving Rs 27,500 crore worthy of income bookings successful the existent 2024-25 fiscal year.