Godrej Properties committed $700-900 Million in last Three Years

Real estate firm Godrej Properties Ltd has committed $700-900 million worth of investments over the past three years and continues to be extremely bullish on the real estate sector in India, a senior company official said. 

Speaking at a CIIAnarock conference, Godrej Properties Ltd (GPL) MD and CEO Mohit Malhotra said the company is looking to form partnerships to acquire projects and is also looking at entering new projects to develop housing projects. 

He pointed out that the company achieved a sales record of Rs 6,725 crore in the last financial year despite the COVID19 pandemic.

When asked about expanding into new markets, Malhotra said: "While there are many growth opportunities in the cities where we operate, we believe there is now an opportunity  to look at the next city and we're evaluating that."

Godrej Properties, the largest listed real estate company in the last financial year by bookings,  raised Rs 3,750 crore last March through a Qualified Institutional Placement (QIP). Its net debt is just Rs 313 crore as of 31 Dec 2021. The debt to equity ratio is 0.04.

Mumbai-based Godrej Properties Ltd has successfully transferred approximately 20 million square feet of real estate over the past five years. It currently has about 186 million square feet of development space in 81 projects across India.