According to the news agency, Godrej Properties obtained 6 new land parcels in the Q2 of the financial year 2024-25. This is because the company is planning to develop housing projects of worth Rs. 9,650 Cr which is a part of its expansion plans in the middle of strong market demand.
Godrej Properties is amongst the leading real estate developers in India. It has noteworthy presence in Mumbai Metropolitan Region (MMR), Delhi-NCR, Bengaluru and Pune.
Godrej Properties forms partnerships with landowners for a joint venture to expand its housing business. They also acquire land through outright purchases.
In the latest operational updates from Godrej Properties in July- September quarter, they added 8 new land parcels. This is in the first six months of this fiscal year with a total approximate of the build up area of 11 million sq. ft and the overall value of booking estimated of Rs. 12650 Cr.
In the Q2 of this year, they included the addition of 6 new land parcels with an expected booking value of Rs. 9650 Cr.
63% of the annual guidance has already been achieved for new business development by Godrej Properties.The sales booking of the Godrej properties rose by 3 percent to approximately Rs. 5200 Crores on better housing demand.
This is the top most booking value acquired by Godrej Properties in Q2 (July- September).
The sales booking value grew 89% yearly to over Rs. 13,800 Crores during the April-september period of this financial year.
In terms of sales booking Godrej properties became the largest real estate firm listed in the last fiscal.The company targets to achieve Rs. 27,500 crores worth of sales in the current financial year 2024-25.
