Prime Highlights:
- Godrej Properties sells over ₹2,600 crore worth of homes in its first year of operation in Hyderabad.
- The company is expanding its presence in the city with new land acquisitions and upcoming premium residential projects.
Key Facts:
- Recently, Godrej Properties acquired a 5-acre plot in Neopolis, Kokapet, with plans for a ₹4,150-crore residential project.
- Across India, the company recorded a 13% growth in sales bookings in the first half of this fiscal year, reaching ₹15,587 crore, and is on track to achieve ₹32,500 crore for the full year.
Background:
Godrej Properties has made a strong entry into Hyderabad’s real estate market, selling housing properties worth more than ₹2,600 crore in its first year, according to Pirojsha Godrej, Executive Chairperson of the company.
The company launched its first project in Kokapet during the January-March quarter, followed by a second project in the July-September quarter. “Between these two projects, we have achieved sales bookings of over ₹2,600 crore in our first year in Hyderabad,” Pirojsha Godrej said, highlighting the city’s significant growth potential for premium and luxury residential properties.
Encouraged by strong sales, Godrej Properties is expanding in Hyderabad. The company recently bought a 5-acre plot in Neopolis, Kokapet, through an e-auction by the Hyderabad Metropolitan Development Authority (HMDA). The upcoming premium residential project on this site is expected to have a saleable area of around 2.5 million sq ft and a revenue potential of approximately ₹4,150 crore. Additionally, the company acquired a 7.825-acre land parcel in Kukatpally earlier this year.
Godrej Properties has a strong presence in Mumbai, Delhi-NCR, Pune, and Bengaluru. In the first half of this fiscal year, the company’s sales bookings grew by 13%, reaching ₹15,587 crore compared to ₹13,835 crore last year. It is on track to meet its full-year target of ₹32,500 crore.
With strong demand in the housing market, the company is launching new projects and acquiring land, both through direct purchases and joint development agreements, in major cities as well as tier-II and tier-III cities.
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