New Delhi: To expand business, Godrej Properties bought 10 LAN parcels last financial year, eight of which were outright, to build housing projects worth over Rs 21,000 crore and aims to buy more parcels this financial year. Is. Generate sales bookings worth Rs 20,000 crore.
In its investors presentation, Godrej Properties said it has "added 10 new projects with an expected future booking value of Rs 21,225 crore".
For the previous 2023-24 financial year, Godrej Properties had given a guidance of Rs 15,00 crore for new business development, which means acquiring land parcels on an outright basis and joint development with land owners.
Godrej Properties has given an annual guidance of Rs 20,000 crore for this financial year under new business development.Investors told Pirojsha Godrej, executive chairperson of Godrej Properties, that there is no upper limit for business growth and the company will acquire more land if the right opportunity presents itself.
"...If we see great opportunity, Rs 20,000 crore will definitely not create an upper limit. And we have seen in the past years, for example, in FY2023 where I think we have seen around Rs 15,000 crore." Guided to Rs 35,000 crore or more.
"So, certainly I would not look at this Rs 20,000 crore as an upper limit and we would hope to go beyond that if we get the right opportunity," he said.
The company, which is part of the Godrej Industries group, is one of the leading real estate developers in the country.It has a major presence in four markets – Mumbai Metropolitan Region (MMR), Delhi-NCR (National Capital Region), Pune and Bengaluru. It has recently entered the Hyderabad property market.
Of the 10 land parcels acquired in FY 2023-24, the presentation revealed that four land parcels are in Delhi-NCR, two each in Bengaluru and Hyderabad, and one each in Kolkata and Nagpur. The total salable area in the 10 future real estate projects is estimated at 18.93 million sq. ft.
On new supply guidance, Godrej Properties plans to launch residential projects worth Rs 30,000 crore in major cities this financial year to achieve 20 per cent growth in sales bookings.The company's sales bookings increased by 84 percent to a record Rs 22,527 crore in the last financial year, from Rs 12,232 crore in the previous year. This is the highest ever sales reported by any listed entity for FY24.
According to the investors presentation, Godrej Properties plans to launch 21. million (219 lakh) sq ft area with an estimated sales bookin value of Rs 30,000 crore this financial year.
Earlier this month, Godrej Properties reported its highest-ever quarterly profit as March quarter earnings rose 14 per cent year-on-year to Rs 471.26 crore, compared with a net profit of Rs 412.14 crore in the year-ago period.
Total income increased to Rs 1,914.82 crore in Q4FY24 from Rs 1,838.82 crore in the year-ago period.The company's net profit during the financial year 2023-24 increased to Rs 725.2 crore from Rs 571.39 crore last year.
Total income increased to Rs 4,334.22 crore in FY 2024 from Rs 3,039 crore in 2022-23.
The company delivered 12.5 million sq ft area in the last financial year and I aim to increase this to 15 million sq ft in 2024-25.
In its investors presentation, Godrej Properties said it has "added 10 new projects with an expected future booking value of Rs 21,225 crore".
For the previous 2023-24 financial year, Godrej Properties had given a guidance of Rs 15,00 crore for new business development, which means acquiring land parcels on an outright basis and joint development with land owners.
Godrej Properties has given an annual guidance of Rs 20,000 crore for this financial year under new business development.Investors told Pirojsha Godrej, executive chairperson of Godrej Properties, that there is no upper limit for business growth and the company will acquire more land if the right opportunity presents itself.
"...If we see great opportunity, Rs 20,000 crore will definitely not create an upper limit. And we have seen in the past years, for example, in FY2023 where I think we have seen around Rs 15,000 crore." Guided to Rs 35,000 crore or more.
"So, certainly I would not look at this Rs 20,000 crore as an upper limit and we would hope to go beyond that if we get the right opportunity," he said.
The company, which is part of the Godrej Industries group, is one of the leading real estate developers in the country.It has a major presence in four markets – Mumbai Metropolitan Region (MMR), Delhi-NCR (National Capital Region), Pune and Bengaluru. It has recently entered the Hyderabad property market.
Of the 10 land parcels acquired in FY 2023-24, the presentation revealed that four land parcels are in Delhi-NCR, two each in Bengaluru and Hyderabad, and one each in Kolkata and Nagpur. The total salable area in the 10 future real estate projects is estimated at 18.93 million sq. ft.
On new supply guidance, Godrej Properties plans to launch residential projects worth Rs 30,000 crore in major cities this financial year to achieve 20 per cent growth in sales bookings.The company's sales bookings increased by 84 percent to a record Rs 22,527 crore in the last financial year, from Rs 12,232 crore in the previous year. This is the highest ever sales reported by any listed entity for FY24.
According to the investors presentation, Godrej Properties plans to launch 21. million (219 lakh) sq ft area with an estimated sales bookin value of Rs 30,000 crore this financial year.
Earlier this month, Godrej Properties reported its highest-ever quarterly profit as March quarter earnings rose 14 per cent year-on-year to Rs 471.26 crore, compared with a net profit of Rs 412.14 crore in the year-ago period.
Total income increased to Rs 1,914.82 crore in Q4FY24 from Rs 1,838.82 crore in the year-ago period.The company's net profit during the financial year 2023-24 increased to Rs 725.2 crore from Rs 571.39 crore last year.
Total income increased to Rs 4,334.22 crore in FY 2024 from Rs 3,039 crore in 2022-23.
The company delivered 12.5 million sq ft area in the last financial year and I aim to increase this to 15 million sq ft in 2024-25.
