Godrej Properties has acquired 12 land parcels between April and December 2024, valued at ₹23,450 crore, to develop new housing projects. This expansion is part of the company’s effort to increase its presence in key markets and respond to growing consumer demand for residential properties.
The new acquisitions will support the development of projects covering a total saleable area of 169 lakh square feet. In addition to the land purchases, Godrej Properties has secured new projects with a combined potential booking value of ₹11,000 crore in the third quarter of the fiscal year. According to Pirojsha Godrej, Executive Chairperson of Godrej Properties, the business development for the year has exceeded expectations, with ₹23,000 crore already achieved by December, surpassing the company’s initial ₹20,000 crore target.
The company’s business development strategy includes partnerships with landowners, which has helped expand its project pipeline. Discussions are ongoing to acquire more land across multiple cities. The company aims to reach ₹30,000 crore in new business development by the end of the fiscal year.
In December 2024, Godrej Properties raised ₹6,000 crore through a Qualified Institutional Placement, strengthening its financial position and giving it greater capacity to invest in future growth. This move has helped the company build a solid balance sheet, supporting its expansion efforts.
Godrej Properties has also seen strong sales in the first nine months of fiscal 2024-25. The company reported pre-sales of ₹19,281 crore, up from ₹13,008 crore in the same period the previous year. Godrej Properties is aiming to achieve sales of ₹27,000 crore for the full fiscal year, a target that appears within reach based on current performance. In 2023-24, the company sold properties worth ₹22,527 crore.
The company maintains a strong presence in major markets such as the Mumbai Metropolitan Region, Pune, Delhi-NCR, and Bengaluru. It has recently entered the Hyderabad market and is exploring opportunities in tier II cities, especially in the plotted development segment. This expansion strategy aims to tap into emerging markets while continuing to build on its established presence in larger cities.
Godrej Properties’ financial performance has been strong, with a significant increase in both net profit and total income. The company’s net profit for the first nine months of fiscal 2024-25 stood at ₹1,017.90 crore, up from ₹254.01 crore in the same period last year. Total income also rose to ₹4,285.99 crore from ₹2,419.40 crore, reflecting the company’s robust growth.
