Latest news with #GodrejProperties
Economic Times
a day ago
- Business
- Economic Times
Signature Global to launch homes worth Rs 6k cr in Gurugram in Jul-Sep: Chairman
Realty firm Signature Global plans to launch homes worth Rs 6,000 crore for sale in Gurugram in the current quarter to cater to the demand from end-users and investors. ADVERTISEMENT Signature Global was the fifth-largest listed real estate firm in 2024-25, in terms of sales bookings, falling behind Godrej Properties, DLF, Lodha Group and Prestige Estates Projects Ltd. The company had clocked record pre-sales of Rs 10,290 crore last fiscal. In an interview with PTI, Signature Global Chairman Pradeep Kumar Aggarwal said the company launched one housing project in Gurugram during the June quarter with total revenue potential of around Rs 3,500 crore."We are planning to launch 3.5-4 million square feet in the current quarter. The total sales potential would be around Rs 6,000 crore," he said the demand continues to be strong, especially for good brands. ADVERTISEMENT "The maximum demand is in the Rs 2-4 crore category," he observed. Recently, on the sidelines of a real estate conference, Aggarwal asserted that there was no bubble in the Gurugram housing market and ruled out any price crash. ADVERTISEMENT Aggarwal remains confident of achieving its target to sell Rs 12,500 crore worth of homes this fiscal, even as its pre-sales dipped 15 per cent in the June the April-June quarter, the company reported a 15 per cent decline in sales bookings to Rs 2,640 crore from Rs 3,120 crore in the year-ago period. ADVERTISEMENT The company sold 778 homes in April-June 2025 against 968 units a year terms of volumes, pre-sales dipped 20 per cent to 16 lakh square feet. ADVERTISEMENT During the June quarter, the average sales realisation stood at Rs 16,296 per sq ft compared to Rs 12,457 per sq ft in the last fiscal. To expand business and refinance debt, Signature Global is also looking to raise Rs 875 crore through the issue of non-convertible debentures. It posted a net profit of Rs 101.2 crore in the last fiscal, a sharp jump from Rs 16.32 crore in the preceding total income grew to Rs 2,637.99 crore in the last fiscal from Rs 1,324.55 crore in 2023-24. Signature Global has delivered 14.6 million sq ft of real estate so far. Another 10.4 million square feet is under construction. PTI (You can now subscribe to our ETMarkets WhatsApp channel)
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Business Standard
2 days ago
- Business
- Business Standard
Signature Global to launch ₹6,000 Cr homes in Gurugram's ₹2-4 crore range
Real estate developer Signature Global is gearing up for a Rs 6,000 crore residential project rollout in Gurugram during the current quarter, targeting both end-users and investors robust housing demand in the NCR. The announcement comes after a blockbuster FY25, where the firm recorded pre-sales worth ₹10,290 crore, making it the fifth-largest listed real estate player in India, behind Godrej Properties, DLF, Lodha, and Prestige Estates. 'We are planning to launch 3.5–4 million square feet in the current quarter. The total sales potential would be around ₹6,000 crore,'— Pradeep Kumar Aggarwal, Chairman, Signature Global told PTI in an interview. Aggarwal emphasized that demand remains especially high in the ₹2–4 crore price bracket, driven by aspirational end-users and long-term investors. He also dismissed any speculation of a price correction in Gurugram, stating firmly that there is 'no bubble' in the city's housing market. June Quarter Dip Temporary, Eyes on ₹12,500 Cr Target Despite a 15% drop in Q1 sales bookings (₹2,640 crore vs ₹3,120 crore YoY), and a 20% decline in volumes to 16 lakh sq ft, Aggarwal remains optimistic of meeting the ₹12,500 crore pre-sales target for FY26. Interestingly, while unit sales fell (778 homes sold vs 968 YoY), the average realisation surged to ₹16,296 per sq ft, up from ₹12,457 last year — reflecting a clear price premium for brand-led offerings. Strategic Capital Raise to Fund Growth To support its expansion and refinance existing debt, Signature Global is also planning to raise ₹875 crore via non-convertible debentures (NCDs). The capital will aid in ramping up project execution and strengthen the company's balance sheet. Signature Global posted a net profit of ₹101.2 crore in FY25, marking a six-fold jump from ₹16.3 crore in FY24. The company's total income more than doubled to ₹2,637.99 crore, compared to ₹1,324.55 crore in the previous year. Delivery Track Record Total delivered portfolio: 14.6 million sq ft Ongoing development: 10.4 million sq ft under construction With a strong brand recall, rising ticket sizes, and a steady launch pipeline, Signature Global is positioning itself as a key player in the Gurugram mid-premium housing market. With inputs from PTI
Hindustan Times
2 days ago
- Business
- Hindustan Times
Godrej Air project: Home buyers protest delayed flats delivery
A group of homebuyers of Godrej Air project in Sector 85, Gurugram, on Sunday protested outside the under-construction condominium over delay in delivery of their flats, lack of 24-metre access road, and non-completion of club house. Buyers also alleged that several amenities including the Clubhouse, promised by March 2025, remain incomplete, along with other essential amenities, leading to frustration due to the builder's casualness. (HT Photo) The buyers alleged that the developer had promised them to deliver the project in 2023 but despite repeated promises, the flats are yet to be delivered. Godrej Properties, the developer constructing the flats, however, denied the allegation while assuring that they are committed to complete the project, and will deliver all the promised amenities. Launched in 2018, the Godrej Air project has 512 flats, as per the home buyers. The project has 2 BHK, 3 BHK and 4 BHK flats sold between ₹1.5 to ₹2.5 crore. According to the developer, there are 511 buyers in the project. Pravin Kumar Agarwal, a home buyer, living in another Godrej project, said that despite promises of possession in 2023, buyers are still waiting for their homes with no firm handover date, facing ongoing financial strain from both EMIs and rent. 'Many home buyers have sold their properties to invest in this project as they wanted to live in a high quality, and safe community. But their dreams have crashed. The people are paying rent, and EMIs. But there is no delivery of flats.' Another protestor Jatin Gandhi said that at the time of launching the project, the developer had allegedly misrepresented access to the project, with a 24-metre sector road now blocked due to the expired lease. 'When the project was launched, the developer showed access from a 24 metres road and a revenue road. But these roads are closed now. We have been requesting for the last two years to the management to complete the project, but to no avail.' Buyers also alleged that several amenities including the Clubhouse, promised by March 2025, remain incomplete, along with other essential amenities, leading to frustration due to the builder's casualness. Asked about the home buyers' concerns, a Godrej Properties spokesperson said: 'We continue to engage proactively with all homeowners of Godrej Air, and keeping them updated on the Project's progress (last updated on July 19). We had applied for a grant of Occupation Certificate (OC) to the Department of Town and Country Planning, Haryana, post ensuring necessary compliances, and are in final stages of obtaining the OC (expected by August)…. We have complied with our license conditions and handed over a portion of land falling within 24-meter road to the authorities. As far as the 24-meter road falling outside our license is concerned, it is the government's obligation to ensure roads are made…. Further, the project is accessible through another 24-meter road. We are also working to give multiple access points towards the project.'
Time of India
4 days ago
- Business
- Time of India
Godrej Properties COO and Mumbai Region zonal CEO resign
Realty developer Godrej Properties has announced two key changes in its senior management team following the resignation of its Chief Operating Officer (COO) and Zonal Chief Executive Officer (CEO) – Mumbai Metropolitan Region. The company's COO Vikas Singhal will step down on July 31 and will be replaced by Sandeep Navlakhe , who assumes charge from August 1. According to the company, Navlakhe has over three decades of experience across companies including Adani Airport Holdings Tata Projects, Lodha Group, and Larsen & Toubro. Explore courses from Top Institutes in Select a Course Category Management Data Science Leadership Healthcare Cybersecurity MCA Design Thinking Others PGDM Operations Management Public Policy Artificial Intelligence Technology Data Analytics others MBA Degree CXO Data Science healthcare Finance Project Management Digital Marketing Product Management Skills you'll gain: Duration: 10 Months IIM Kozhikode CERT-IIMK GMPBE India Starts on undefined Get Details Skills you'll gain: Duration: 11 Months IIM Kozhikode CERT-IIMK General Management Programme India Starts on undefined Get Details Skills you'll gain: Duration: 9 Months IIM Calcutta CERT-IIMC APSPM India Starts on undefined Get Details The company has informed the stock exchanges that Zonal CEO-MMR, Priyansh Kapoor , has resigned effective July 18. He will be succeeded by Amitesh Shah starting July 19. Shah has been with Godrej Properties since 2011 and most recently served as Region Head for MMR. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 20 Pieces of Clothing Older Women should Avoid Learn More Undo On Friday, shares of Godrej Properties closed at Rs 2,363.55, up 1.1% over previous close.
Time of India
4 days ago
- Business
- Time of India
Godrej Properties buys 48-acre land parcel in Bengaluru, to sell housing plots
Realty firm Godrej Properties Ltd has acquired a 48-acre land parcel in Bengaluru and will sell housing plots in this upcoming project. In a regulatory filing on Friday, Godrej Properties said it has acquired a 48-acre land parcel through outright purchase in Doddaballapur, North Bengaluru. Explore courses from Top Institutes in Select a Course Category Management others Healthcare Digital Marketing MBA Data Science Others Design Thinking Degree Project Management Product Management Leadership Cybersecurity Technology CXO Public Policy Data Science MCA PGDM Finance Data Analytics Skills you'll gain: Duration: 11 Months IIM Kozhikode CERT-IIMK General Management Programme India Starts on undefined Get Details Skills you'll gain: Duration: 10 Months IIM Kozhikode CERT-IIMK GMPBE India Starts on undefined Get Details Skills you'll gain: Duration: 9 Months IIM Calcutta CERT-IIMC APSPM India Starts on undefined Get Details by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Struggling With Belly Fat? Try This at Home Home Fitness Hack Shop Now Undo "The development on this land will primarily comprise plotted units with a development potential of 1.1 million square feet," the company said. The company did not provide the land cost and also revenue potential of this new project. On July 16, Godrej Properties announced the acquisition of a 50-acre land parcel in Raipur for developing housing plots. This land will have an estimated saleable area of around 9.5 lakh square feet. Live Events On June 30, the company said it has acquired a 43-acre land parcel in Panipat, Haryana and expects to earn revenues of more than Rs 1,250 crore through the sale of residential plots. Godrej Properties is one of the leading real estate developers in the country. The company is developing group housing projects mainly in Delhi-NCR, Mumbai Metropolitan Region, Bengaluru, Pune and Hyderabad. However, the company is buying land in Tier-II cities of various states to develop residential plots. During the 2024-25 fiscal, Godrej Properties bought as many as 14 land parcels across major cities to build housing projects with revenue potential of about Rs 26,500 crore.
