Good investments Godrej Properties buys 12 land parcels
Godrej Properties Acquires Land for Housing Projects
Godrej Properties, a prominent real estate developer in India, has made significant strides in its business development during the fiscal year 2024-25. Between April and December of this period, the company successfully acquired 12 land parcels aimed at developing housing projects with a total estimated value of ₹23,450 crore. This acquisition reflects the company’s proactive approach to capitalizing on strong consumer demand in the real estate market.
Details of Land Acquisition and Future Plans
The land acquisitions are part of Godrej Properties’ broader strategy to expand its portfolio and enhance its market presence. The Executive Chairperson, Pirojsha Godrej, highlighted that the business development was particularly robust during the December quarter. The company has not only focused on acquiring land but also signed new projects with a potential booking value nearing ₹11,000 crore during the third quarter alone. This indicates a strong pipeline for future developments.
Pirojsha further mentioned that the company is engaged in discussions with landowners across various cities to explore additional acquisition opportunities. The goal is to reach a new business development target of ₹30,000 crore by the end of the current fiscal year. This ambitious target underscores Godrej Properties’ confidence in sustained demand within the housing sector.
Financial Performance and Market Position
In terms of financial performance, Godrej Properties reported impressive growth metrics. For instance, their net profit surged to ₹1,017.90 crore from ₹254.01 crore during the same period last year. Godrej Riverine Additionally, total income rose significantly from ₹2,419.40 crore to ₹4,285.99 crore, showcasing effective management and operational efficiency.
The company has also demonstrated strong pre-sales figures amounting to ₹19,281 crore in just nine months of this fiscal year compared to ₹13,008 crore in the previous year’s corresponding period. This growth trajectory positions Godrej Properties as one of India’s leading real estate developers with substantial market share gains over recent years.
Godrej Properties in Noida
Godrej Properties in Noida’ strategic land acquisitions and robust financial performance indicate a well-planned approach towards expanding its footprint in India’s competitive real estate market.
