Godrej Properties plans QIP to buy land parcel

12 Feb 2021 CW Staff

Godrej Group鈥檚 real estate arm Godrej Properties Ltd (GPL) has plans to raise up to Rs 3,750 crore through a qualified institutional placement (QIP) of its shares for funding new land buys and paying its joint venture (JV) partners.

GPL has already cleared the proposal for raising the funds.

Godrej said the firm has built a 50 million sq ft portfolio in the past two and a half years. The Godrej arm acquired two land parcels in the third quarter (Q3), with a potential of 4 million sq ft. GPL raised Rs 2,100 crore in 2019 through QIP of shares and Rs 1,000 crore through the issuance of non-convertible debentures last year to buy land. The company has lined up 12 projects for the fourth quarter of the current financial year (2020-21).

Make in Steel 2021

24 February

4th Indian Cement Review Conference 2021

17-18 March

The company's net debt has gone up to Rs 3,077 crore in the December quarter, from Rs 1,084 crore a year ago. Godrej told the media recently that the debt is at a "very comfortable" level and borrowings have increased because of investment in project acquisitions.

: GPL raised Rs 2,100 crore in 2019 through QIP of shares and Rs 1,000 crore through the issuance of non-convertible debentures last year to buy land.

Also read: New Godrej projects on 2.4 mn sq ft in Bengaluru

Products

19 May 2025

unWOOD transforms plastic waste into durable wood alternative

unWOOD, a breakthrough innovation, is converting hard-to-recycle plastic waste into a durable alternative to natural wood. Developed through a proprietary process called Intelligent Compounding, unWOOD uses a Macro Molecular Fiber Matrix (MMFM) structure to replicate the strength, look, and feel of hardwood鈥攚ithout the environmental cost.Conceptualised by Dr Babu Padmanabhan, the material addresses key flaws in traditional plastic recycling by consuming minimal energy, using zero water, and generating no microplastics. 鈥淎ny application that introduces plastics into areas where it cannot be..

Real Estate

19 May 2025

India's first AI-integrated campus announced in Noida

Yashoda Hospital and Bhutani Infra have announced plans to develop India鈥檚 first fully AI-integrated mixed-use campus in Greater Noida West. The upcoming project will feature a hospital, retail spaces, offices, SOHOs, serviced apartments, and a hotel鈥攁ll operating within a self-learning, generative AI-powered ecosystem.The AI-first campus will integrate real-time data systems, predictive analytics, and adaptive infrastructure to offer personalised experiences across functions. From AI-enabled footfall tracking and dynamic energy optimisation to smart F&B and retail insights, the develo..

Infrastructure Urban

19 May 2025

Postal Dept Unveils Stamp Honouring 125 Years of Kodaikanal Observatory

The Department of Posts is proud to release a commemorative postage stamp celebrating 125 years of the Kodaikanal Solar Observatory (KSO). Recognising the legacy of the KSO through this special stamp is a fitting tribute to one of India鈥檚 most significant scientific institutions and highlights the nation鈥檚 long-standing contribution to global science.The Commemorative stamp was released by S Rajendra Kumar, Chief Postmaster General, Karnataka Circle in the gracious presence of A S Kiran Kumar, Chairperson, Governing Council, IIA and Former Chairman, ISRO and other esteemed guests at Indian..