Godrej Properties (GPL) has emerged as the highest bidder to develop a group housing project in sector 5-A, Kharghar, Navi Mumbai according to e-auction portal of City and Industrial Development Corporation of Maharashtra (CIDCO).
The plots, measuring 6.54 acres, will offer a development potential of about two million sq ft, comprising residential apartments of varied configurations, with an estimated combined revenue potential of about Rs 3,500 crore.
Company’s booking value grew 3% year-on-year to nearly Rs 5,200 crore from sale of over 5.1 million sq ft in Q2 FY25. Booking value grew over 89% year-on-year to over Rs 13,800 crore in H1 FY25.Gaurav Pandey, MD & CEO of the company said, “Our robust sales performance, has translated into record collections growth of 62% to over Rs 7,000 crore and operational cash flow growth of over 200% to over Rs 2,800 crore in H1 FY25.”
Collections stood at over Rs 4,000 crore representing a year-on-year growth of 68% in Q2 FY25. In H1 FY25 collections stood at over Rs 7,000 crore representing a year-on-year growth of 62%.
GPL has added eight new projects in year-to-date FY25 with a total estimated saleable area of approximately 11 million sq ft and total estimated booking value potential of about Rs 12,650 crore.
