Godrej Properties Exceeds Annual Business Development Target of ₹20,000 Crore

Godrej Properties Ltd. has achieved a significant milestone by exceeding its full-year business development guidance of ₹20,000 crore. This accomplishment comes with the acquisition of a high-revenue potential project in Gurugram, marking its 11th project acquisition for the fiscal year 2025.

Highest Bidder for Luxury Plot on Golf Course Road, Gurugram

The company recently announced it emerged as the highest bidder for a premium housing plot located on Golf Course Road in Gurugram, a prime location for luxury residential developments. This plot is expected to generate revenue surpassing ₹5,500 crore, adding considerable value to Godrej Properties' already substantial portfolio.

Expanding Portfolio: Total Booking Value Reaches ₹22,950 Crore

With the addition of this new project, Godrej Properties has brought its total booking value from new projects in FY25 to an impressive ₹22,950 crore. This achievement demonstrates the company's strategic expansion efforts and success in acquiring prime real estate for high-potential developments.

Details of the New 7.5-Acre Luxury Development

The newly acquired 7.5-acre plot in Gurugram’s Golf Course Road micro-market has over 1.7 million square feet of developable space. It will host luxury residential apartments in a range of configurations, catering to the high demand in the region. This acquisition aligns with Godrej’s strategy to bolster its footprint in the National Capital Region (NCR) by delivering high-quality residential communities.

Previous Land Acquisitions on Golf Course Road

Godrej Properties has shown continued interest in the Gurugram market. In FY24, the developer secured two parcels of land, measuring 5.15 acres and 2.76 acres respectively, in the same micro-market from the Haryana Shehri Vikas Pradhikaran (HSVP) through auction. These projects are set to launch within the current fiscal year, further solidifying the company’s presence in a highly competitive market.

Projected Revenue Potential Exceeding $1.5 Billion

Godrej Properties’ developable land on Golf Course Road has a projected revenue potential exceeding $1.5 billion. This estimated revenue underscores the lucrative prospects within the Golf Course Road micro-market and reaffirms Godrej’s position as a top developer in India’s real estate landscape.

Statement from Gaurav Pandey, MD and CEO of Godrej Properties

Commenting on the success in the NCR market, Gaurav Pandey, MD and CEO of Godrej Properties, expressed confidence in the company’s strategy and performance. “We have witnessed strong demand for our projects in the NCR market, demonstrating the huge trust and confidence our customers place in us. I am confident that this new acquisition will further strengthen our portfolio in NCR and meet the strong demand for our offerings in this market,” said Pandey.

He added that Godrej Properties is committed to building outstanding residential communities that provide long-term value to residents, emphasizing the company’s customer-focused approach.

Godrej Properties Achieves 51% of Annual Guidance Midway Through FY25

During an interview with CNBC TV-18, Gaurav Pandey noted that Godrej Properties has already achieved around 51% of its annual target, recording nearly ₹13,835 crore in bookings. This remarkable performance is significantly higher than the company’s results just two years ago, illustrating a steady upward growth trajectory.

“Dream Run” Continues with Strategic Project Launch Management

According to Pandey, Godrej Properties has been experiencing a “dream run,” with each quarter yielding stronger results than the last. The company’s approach of spreading project launches evenly throughout the year has contributed to this success. While the ‘Shradh’ period in Q2 presented a seasonal challenge for sales, the company remains optimistic about achieving strong results in Q3.

Strong Performance Boosts Stock Value in 2024

The positive momentum has also been reflected in Godrej Properties’ stock performance. As of Friday, the company’s shares opened at ₹2,944.95, maintaining a nearly steady position. The stock has surged by over 45% in 2024, showcasing investor confidence in the company’s long-term growth potential.