Godrej Properties expand southern footprint with ambitious growth plans
04 Oct 2023
2 Min Read
CW Team
Godrej Properties is on a mission to expand its presence in the southern market, aiming for a robust 30% annual growth over the next two years, buoyed by robust residential sales. In the past nine months, the Mumbai-based company acquired two sizable land parcels, totalling over 6 million sq ft, in Bengaluru and Chennai, with an anticipated booking value of Rs 36 billion.
"Bengaluru remains our primary market in South India. We are actively striving to boost our market share and establish a stronger presence in Bengaluru, as well as within the overall GPL portfolio," stated Pramod Bisht, CEO (South) of Godrej Properties.
Godrej Properties has ambitious plans for the newly acquired land parcels, intending to develop two extensive residential projects in Chennai and Bengaluru, in addition to procuring more land for future ventures. The company is also exploring potential opportunities in Hyderabad.
For the fiscal year 2023, Godrej Properties achieved a booking value of over Rs 122 billion, attributed to an enhanced project mix and substantial volume growth. Bengaluru contributed nearly Rs 22.5 billion to GPL?s overall portfolio, constituting approximately 17% to 18% of the total.
The Mumbai-based firm's focus is on group housing projects within the mid-income and luxury segments, priced between Rs 12 million and Rs 17 million in Bengaluru and Chennai.
"Bengaluru?s market stability and growth potential are significant factors for us. Our strategy revolves around growth, and we are keen on maximising opportunities based on available land resources. We have observed substantial growth in North, East, and Southeast Bengaluru due to the availability of land parcels and increasing employment opportunities in these areas," explained Bisht.
Godrej Properties is strategically acquiring land through outright purchases, joint ventures, and joint development agreements to amplify its growth. This land acquisition initiative aligns seamlessly with the company's goal to expand its footprint in major property markets across the nation.
Godrej Properties is on a mission to expand its presence in the southern market, aiming for a robust 30% annual growth over the next two years, buoyed by robust residential sales. In the past nine months, the Mumbai-based company acquired two sizable land parcels, totalling over 6 million sq ft, in Bengaluru and Chennai, with an anticipated booking value of Rs 36 billion.
Bengaluru remains our primary market in South India. We are actively striving to boost our market share and establish a stronger presence in Bengaluru, as well as within the overall GPL portfolio, stated Pramod Bisht, CEO (South) of Godrej Properties.
Godrej Properties has ambitious plans for the newly acquired land parcels, intending to develop two extensive residential projects in Chennai and Bengaluru, in addition to procuring more land for future ventures. The company is also exploring potential opportunities in Hyderabad.
For the fiscal year 2023, Godrej Properties achieved a booking value of over Rs 122 billion, attributed to an enhanced project mix and substantial volume growth. Bengaluru contributed nearly Rs 22.5 billion to GPL?s overall portfolio, constituting approximately 17% to 18% of the total.
The Mumbai-based firm's focus is on group housing projects within the mid-income and luxury segments, priced between Rs 12 million and Rs 17 million in Bengaluru and Chennai.
Bengaluru?s market stability and growth potential are significant factors for us. Our strategy revolves around growth, and we are keen on maximising opportunities based on available land resources. We have observed substantial growth in North, East, and Southeast Bengaluru due to the availability of land parcels and increasing employment opportunities in these areas, explained Bisht.
Godrej Properties is strategically acquiring land through outright purchases, joint ventures, and joint development agreements to amplify its growth. This land acquisition initiative aligns seamlessly with the company's goal to expand its footprint in major property markets across the nation.
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