Latest news with #GodrejProperties
Fashion Value Chain
20-05-2025
- Business
- Fashion Value Chain
Listed Developers Strengthen their Hold on India's Residential Real Estate
A significant chunk of home buyers seems to be reposing their faith on developers who have constantly demonstrated their ability to complete projects on time without compromising on quality standards, particularly on listed entities. A peep into the annual performance of some of the reputed listed Indian real estate companies well and truly establishes this phenomenon. For the fiscal year 2024-2025, Godrej Properties has reported a robust 31% year-on-year surge in sales at Rs. 29,444 crore. Another Mumbai headquartered real estate firm Macrotech Developer is not far behind. For the year ended March 31, 2025, Macrotech reported strong sales bookings of Rs. 17,630 crore, reflecting a healthy 21% annual growth. The trend is just not limited to Mumbai-based developers but is rather widespread. Delhi-headquartered DLF Limited has reported robust sales of Rs. 21,223 crore in FY25, reflecting a strong year-on-year growth of 44%. The company not only exceeded its annual sales guidance of Rs. 17,000 crore but also underscored the sustained confidence of buyers in its offerings. Similarly, Signature Global (India) Ltd. achieved pre-sales of Rs. 10,290 crore, marking a substantial 42% increase from the preceding fiscal year. Mr. Ravi Aggarwal, Co-founder & Managing Director, Signature Global (India) Ltd. Commenting upon the performance reported by his company, Mr. Ravi Aggarwal, Co-founder & Managing Director, Signature Global (India) Ltd., said, 'The year 2024-25 was a phenomenal one for us. We easily achieved the guidance by clocking a pre-sales to the tune of Rs 10,290 crore. We received phenomenal response for all our offerings from various stakeholders and with interest rates inching downwards, we are confident about the continuation of the sales momentum.' 'In FY26, we plan to launch projects worth Rs 17,000 crore and are targeting pre-sales of Rs 12,500 crore. While most new launches in the region are priced at Rs 8-10 crore, Signature Global remains committed to providing homes to the maximum number of people, and as such, we will continue to focus on launching homes at prime locations in Gurugram in the price range of Rs 2-5 crore,' said Ravi Aggarwal. With most of the reputed listed entities having reported decent numbers, it reflects increasing preference of homebuyers for trusted brands that assure quality construction, timely delivery, and adherence to regulatory norms. An ICRA research report too suggests the same. As larger and more reputable companies gain a larger market share, their performance is expected to outpace the overall industry growth, the report has mentioned. While domestic demand continues to remain robust, Non-Resident Indians (NRIs) are also emerging as a significant buyer segment-attracted not only by the investment potential of Indian real estate but also by a deep emotional connection to their roots. As part of their long-term wealth preservation strategies, NRIs are actively acquiring premium and high-value properties in major Indian metropolitan areas and even in holiday destinations. NRIs are increasingly turning to Indias luxury real estate sector as a safer and more rewarding investment avenue, a recent GRI Club report has stated. 'Share of NRI investment in newly launched projects in major metros continues to rise substantially and with India remaining an attractive destination, the NRIs are expected to continue their trust on the vibrant Indian real estate,' says Aggarwal. Cities like Mumbai along with Gurugram, Hyderabad, and Bangalore are expected to attract the majority of NRI investments. While Gurugram, in particular, has emerged as a prime destination for premium and luxury real estate, some micro-market such Southern Peripheral Road, Dwarka Expressway, and Sohna are expected to outperform other areas due to their superior connectivity and rapid urban infrastructure development.
Time of India
19-05-2025
- Business
- Time of India
Godrej Properties expands land bank across India, taps Rs 26,500 crore potential through 14 land parcels
NEW DELHI: , one of India's prominent real estate developers, acquired 14 land parcels across major cities during the 2024–25 fiscal year, with a total development potential of approximately Rs 26,500 crore. Tired of too many ads? go ad free now These acquisitions span key urban markets, including the Mumbai Metropolitan Region (MMR), Pune, Delhi-NCR, Bengaluru, Kolkata, Ahmedabad, and Indore, according to the company's chairperson, Pirojsha Godrej. In an interview with PTI, Godrej said, "Last financial year, we added about Rs 26,500 crore worth of new projects, as against the guidance of Rs 20,000 crore. This fiscal, we are again giving guidance of Rs 20,000 crore. Quite likely, we will exceed this by a good margin." Godrej Properties is actively expanding its land bank through outright purchases and strategic partnerships with landowners, a growing trend among developers seeking scale and long-term value creation. The company's investor presentation outlines the specific acquisitions: three land parcels in Gurugram, two each in Greater Noida, MMR, Bengaluru, and Indore, and one each in Pune, Ahmedabad, and Kolkata. Notably, five in the Delhi-NCR region - three in Gurugram and two in Greater Noida - collectively hold a revenue potential of around Rs 14,000 crore, underlining the company's bullish outlook on this high-growth market. 'So overall, I am very happy with the company's performance in 2024–25, and I think the key now is to maintain this momentum in the current financial year,' Godrej added. Riding on strong market sentiment and operational execution, Godrej Properties plans to launch new housing projects worth Rs 40,000 crore in the current fiscal year. This comes on the back of exceeding last year's launch target of Rs 30,000 crore with actual launches totaling Rs 36,600 crore. Tired of too many ads? go ad free now For the 2025–26 fiscal, the company has set a of Rs 32,500 crore, a 20 per cent increase over last year's guidance and 10 per cent higher than the Rs 29,444 crore achieved in 2024–25. This marks a 31 per cent growth over Rs 22,527 crore booked in the previous year. On the financial front, Godrej Properties reported a consolidated net profit of Rs 1,399.89 crore for FY 2024–25, a sharp rise of 93 per cent from Rs 725.27 crore in the preceding year. Total income also surged to Rs 6,967.05 crore, up from Rs 4,334.22 crore in 2023–24.
Economic Times
19-05-2025
- Business
- Economic Times
Godrej Properties buys 14 land parcels in FY25 to build projects worth Rs 26,000 cr: Pirojsha Godrej
Godrej Properties has bought 14 land parcels across major cities to build housing projects. Godrej Properties has bought 14 land parcels across major cities to build housing projects with revenue potential of about Rs 26,500 crore in the last fiscal year and will continue to acquire more land to grow its business, its Chairperson Pirojsha Godrej said. The company bought these land parcels, all outright, in Mumbai Metropolitan Region (MMR), Pune, Delhi-NCR, Bengaluru, Kolkata, Ahmedabad and Indore. In an interview with PTI, Pirojsha Godrej said, "Last financial year, we added about Rs 26,500 crore worth of new projects, as against the guidance of Rs 20,000 crore. This fiscal, we are again giving guidance of Rs 20,000 crore. Quite likely, we will exceed this by a good margin". For business development, real estate developers are buying land outright and also partnering with landowners. Godrej Properties is one of the leading real estate developers in the country. It develops group housing projects mainly in Delhi-NCR, Mumbai Metropolitan Region, Pune, Bengaluru and Hyderabad. It has a presence in some smaller cities for plotted development. According to its investors' presentation, the company bought 3 land parcels in Gurugram and 2 each in Greater Noida, MMR, Bengaluru and Indore. It purchased one land parcel each in Pune, Ahmedabad and Kolkata. Godrej Properties is bullish on Delhi-NCR market as the company had bought five land parcels in Gurugram and Greater Noida, which could generate a revenue of Rs 14,000 crore. On last fiscal, Pirojsha Godrej said, "So, overall, I am very happy with the company's performance in 2024-25, and I think, key is now to maintain this momentum in the current financial year". He said the company plans to launch housing projects worth Rs 40,000 crore this fiscal year. In the last fiscal, Pirojsha said, the company had given guidance of launching Rs 30,000 crore worth of projects, but it ended up launching properties valuing Rs 36,600 crore. Talking about the pre-sales targets for the 2025-26 fiscal, he said, "We have guided for Rs 32,500 crore worth of sales booking value for this fiscal, which is 20 per cent higher than our guidance of last year and 10 per cent higher than the actuals we delivered. Hopefully, if market support again, we can outperform the guidance". During the 2024-25 fiscal, Godrej Properties sales bookings rose 31 per cent to a record Rs 29,444 crore, from Rs 22,527 crore in the preceding year. On financial performance, Godrej Properties recently reported that its consolidated net profit rose 93 per cent to Rs 1,399.89 crore during 2024-25, from Rs 725.27 crore in the preceding fiscal. Its total income grew to Rs 6,967.05 crore last fiscal, compared to Rs 4,334.22 crore in the 2023-24 fiscal.
Time of India
13-05-2025
- Business
- Time of India
Liquidator puts Jet Airways' office space in Mumbai's BKC on the block
A government-appointed liquidator has put an entire office floor owned by defunct Jet Airways in commercial tower Godrej BKC in Mumbai 's business district Bandra-Kurla Complex (BKC) on the block. The liquidator has set a reserve price of Rs 335.24 crore for the property to be auctioned next month under the Insolvency & Bankruptcy Code, 2016. In 2020, as part of Jet Airways ' insolvency proceedings, global alternative investment major Brookfield Asset Management had acquired the company's two office floors in the building for Rs 490 crore. These offices are currently occupied by marquee tenants including World Bank and PayPal. The transaction involved around 180,000 sq ft office space spread across the third and fourth floors, along with rights to 138 car parking spaces. Brookfield holds the right of first refusal (ROFR) for this office space too as part of the agreement entered then. As per the ROFR terms, Brookfield is expected to match the highest offer the asset receives if it intends to acquire the same. The currently vacant office spread over 83,000 sq ft on the second floor of the commercial tower was sealed by the Municipal Corporation of Greater Mumbai owing to unpaid dues. On April 28, the National Company Law Tribunal (NCLT) ordered the civic body to de-seal the property and halt recovery actions. The e-auction for the property along with 70 exclusive car parking slots in the tower is scheduled for June 2, and as per the auction notice, prospective bidders are expected to submit an earnest money deposit of Rs 32.5 crore. The asset is being sold on an 'as is where is' basis under the IBC, and all applicable taxes, dues and transfer charges will be borne by the successful bidder. ET's separate email queries to the liquidator and Brookfield remained unanswered until press time. In the earlier auction held in June 2020, Brookfield emerged as the sole bidder, matching the reserve price of Rs 490 crore. The acquisition price translated to approximately Rs 28,900 per sq ft then, which was about 25% lower than the prevailing market rates in BKC at that time. Real estate experts considered this a fair valuation given the market conditions and the lack of new premium office supply in the area at that time. The Godrej BKC building, a 19-storey commercial tower, was developed in 2011 through a joint venture between Godrej Properties and Jet Airways. Jet Airways had originally purchased the land from the Mumbai Metropolitan Region Development Authority in 2008 for Rs 826 crore before collaborating with Godrej Properties for the project's development. Ends
Hindustan Times
11-05-2025
- Business
- Hindustan Times
Godrej Properties to launch housing projects worth ₹40,000 cr in FY26 to expand biz: Pirojsha Godrej
New Delhi, May 11 (PTI) Godrej Properties plans to launch housing projects worth ₹40,000 crore, as the company aims to increase market share and retain its position as the top listed real estate firm in terms of sales bookings. In an interview with PTI, Godrej Properties Executive Chairperson Pirojsha Godrej noted that the housing demand continues to be strong despite global economic uncertainties, and cited the company's performance in the last fiscal, where it achieved record sales bookings of ₹29,444 crore, the highest among listed entities. "So, overall, I am very happy with the company's performance in FY25, and I think, key is now to maintain this momentum in the current financial year," Pirojsha told PTI. He said the company would continue to invest in land acquisition and development works to expand its business and increase market share. "We raised ₹6,000 crore in October last year through QIP (Qualified Institutional Placement). That ₹6,000 crore plus ₹7,500 crore operating cash flow creates a pretty good war chest to ensure further investments and maintain this kind of strong growth rate," Pirojsha said. Talking about the targets for the 2025-26 fiscal, he said, "We have guided for ₹32,500 crore worth of sales booking value for this fiscal, which is 20 per cent higher than our guidance of last year and 10 per cent higher than the actuals we delivered. Hopefully, if market support again, we can outperform the guidance". "We have a good lineup of projects. We have guided for launches of 40,000 crore worth of projects. There is good visibility across the region," he added. In the last fiscal, Pirojsha said, the company had given guidance of launching ₹30,000 crore worth of projects, but it ended up launching properties valuing ₹36,600 crore. According to an investor's presentation, Godrej Properties launched 34 projects, either a new one or a new phase in existing projects, last fiscal with 292 lakh square feet of area and an estimated sales bookings value of ₹36,600 crore. Pirojsha said the company would launch a project in Worli, Mumbai, in the first half of this fiscal and also hoped to launch its big-ticket project at Ashok Vihar in Delhi by March 2026. These new launches and sales from ongoing projects would help the company to meet the targeted sales bookings of ₹32,500 crore for this fiscal. During the 2024-25 fiscal, Godrej Properties sales bookings rose 31 per cent to a record ₹29,444 crore from ₹22,527 crore in the preceding year. Pirojsha noted that these sales bookings were distributed across various regions and said it is a good sign that the company is not "overly reliant on any one region and one or two projects". Pirojsha said the company's collections of funds from customers rose sharply to a record ₹17,047 crore last fiscal from ₹11,436 crore in the preceding year. Strong collections helped in generating healthy operating cash flow for the company, he pointed out. Pirojsha also mentioned that the company's market share increased to 4.3 per cent last fiscal. In the presentation, the company cited PropEquity data, estimating the total market size of tier-I residential markets at ₹6.9 lakh crore in the last fiscal. Based on PropEquity data, Godrej Properties' share was 4.3 per cent as it clocked sales bookings of ₹29,444 crore during 2024-25. On financial performance, Godrej Properties recently reported that its consolidated net profit rose 93 per cent to ₹1,399.89 crore during 2024-25 from ₹725.27 crore in the preceding fiscal. Its total income grew to ₹6,967.05 crore last fiscal compared to ₹4,334.22 crore in the 2023-24 fiscal. The board also approved a proposal to raise up to ₹2,000 crore by issuing non-convertible debentures, bonds, and/ or other debt securities on a private placement basis, in one or more tranches. Godrej Properties is one of the leading real estate developers in the country. It develops Group housing projects mainly in Delhi-NCR, Mumbai Metropolitan Region, Pune, Bengaluru and Hyderabad. It has a presence in some smaller cities for plotted development.
