Godrej Properties, a leading real estate developer in India, has a strong presence in major markets like Delhi-NCR, MMR, Pune, and Bengaluru, with a recent entry into Hyderabad. In the last fiscal year, the company's sales bookings surged 84% to a record INR 22,527 crore, the highest among listed realty firms in 2023-24. It aims to achieve INR 27,000 crore in sales bookings. In the first quarter of this fiscal year, sales bookings grew nearly fourfold to INR 8,637 crore compared to the same period last year.
Realty firm Godrej Properties announced earlier this week that its board has approved raising up to INR 6,000 crore through the issue of securities. In a regulatory filing, Godrej Properties confirmed that the board has given the go-ahead for the fund-raising, which will not exceed INR 6,000 crore.
The funds will be raised through the issuance of securities, including equity shares, debentures, preference shares, and other eligible securities. The capital could be raised in one or more tranches via public and/or private offerings. This may include qualified institutions placement, rights issues, further public offers, or any other methods permitted under applicable laws, or a combination of these.
Godrej Properties is recognised as one of the country's leading developers, with a strong presence in key markets such as Delhi-NCR, the Mumbai Metropolitan Region (MMR), Pune, and Bengaluru. The company has also recently expanded into the Hyderabad market.
In the past fiscal year, Godrej Properties achieved an 84% increase in sales bookings, reaching a record INR 22,527 crore the highest among listed real estate firms for 2023-24.The company has set an ambitious target to achieve INR 27,000 crore worth of sales bookings. In the first quarter of the current fiscal year, Godrej Properties' sales bookings surged nearly fourfold to INR 8,637 crore, compared to INR 2,254 crore during the same period the previous year.
Godrej Properties continues to solidify its position as a leading force in the Indian real estate market. With a record-breaking performance in the last fiscal year and ambitious growth targets set for the future, the company is well on its way to surpassing previous achievements. Its strategic expansion into key markets, including Hyderabad, and the significant jump in sales bookings during the first quarter of this fiscal year, underscore its ability to adapt and thrive. As it progresses, Godrej Properties is poised to maintain its strong growth trajectory in the competitive real estate sector.
Advertisement
Facebook
Whatsapp
