Godrej Properties buys 15 plots with sale potential of Rs 27,500 crore in 2022-23
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The company intends to acquire more land by March for construction of new projects. In an interview with PTI, Pirojsha Godrej, executive chairman of Godrej Properties, said the company’s acquisition of land parcels will cross at least Rs 30,000 crore in terms of revenue in the current financial year.
Amid strong demand for homes, Godrej Properties has acquired 15 plots of land so far in the current financial year (2022-23). The company expects a sales revenue of Rs 27,500 crore through these. The company intends to acquire more land by March for construction of new projects. In an interview with PTI, Pirojsha Godrej, executive chairman of Godrej Properties, said the company’s acquisition of land parcels will cross at least Rs 30,000 crore in terms of revenue in the current financial year.
This is double the target set for the current financial year. The company is acquiring plots through direct purchase or through joint ventures with landowners. Godrej said, “We are very happy with the last quarter. It was a very strong quarter from an operational perspective. It has been an exceptional quarter in terms of business growth.” The company has added 15 new projects with a total salable area of 2.34 sq. ft. so far in the current financial year.
Their estimated booking value is Rs 27,500 crore. Godrej Properties added nine new projects in Delhi-NCR, Mumbai Metropolitan Region (MMR) and Pune in the third quarter itself. Their sales booking is estimated at Rs 23,050 crore. The company has huge cash. In such a situation, it is buying more pieces of land directly. Godrej, however, said talks are on with several landowners for joint development of the company’s projects.
Disclaimer:IndiaTheNews has not edited this news. This news has been published from PTI-language feed.
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