Godrej Properties Achieves ₹2,600 Cr Sales in Hyderabad, Eyes Expansion

New Delhi, Dec 14 (PTI) Godrej Properties, a prominent real estate developer, has achieved a significant milestone by selling housing properties worth ₹2,600 crore in its first year of operation in Hyderabad. This remarkable performance has bolstered the company's confidence in the city's real estate market, prompting it to explore further expansion opportunities.

In January this year, Godrej Properties announced its entry into the Hyderabad housing market with the launch of its first project at Kokapet. The company followed this with the launch of a second project in the July-September quarter. These projects have collectively generated sales bookings exceeding ₹2,600 crore within the first calendar year of operation.

In an interview with PTI, Pirojsha Godrej, Executive Chairperson of Godrej Properties, highlighted the company's strong performance in Hyderabad. 'We launched our first project in Hyderabad during the January-March quarter and our second project in the July-September quarter. Between these two projects, we have achieved sales bookings of more than ₹2,600 crore in our first calendar year of operation in the city,' said Pirojsha.

The Hyderabad market is recognized for its huge growth potential, particularly in the premium and luxury residential segments. Godrej Properties is keen to capitalize on this demand and expand its business in the city. The company, which has a strong presence in Mumbai Metropolitan Region (MMR), Delhi-NCR, Pune, and Bengaluru, is now actively seeking more land in Hyderabad to develop new projects.

Buoyed by its robust sales performance, Godrej Properties has recently won a bid to acquire a 5-acre land parcel in Hyderabad, valued at ₹4,150 crore. The company participated in an e-auction conducted by the Hyderabad Metropolitan Development Authority (HMDA) for a land parcel measuring around 5 acres in Neopolis, Kokapet. Godrej Properties emerged as the highest bidder and plans to develop a premium residential project with a saleable area of about 2.5 million sq ft and an estimated revenue potential of about ₹4,150 crore.

Earlier this year, in August, Godrej Properties acquired a 7.825-acre land parcel in Kukatpally, Hyderabad. This strategic land acquisition is part of the company's broader plan to expand its portfolio in the city and meet the growing demand for high-quality residential properties.

Across all markets, Godrej Properties has achieved a 13% growth in sales bookings to ₹15,587 crore in the first six months of this fiscal year, up from ₹13,835 crore in the year-ago period. The company is confident of achieving its sales bookings target of ₹32,500 crore for the full fiscal year. In the 2024-25 fiscal year, Godrej Properties sold properties, primarily housing, worth ₹29,444 crore.

With housing markets in major cities witnessing strong demand, Godrej Properties is launching new projects and acquiring land parcels for future development. During this fiscal year, the company aims to add ₹30,000 crore of revenue potential through land acquisitions. Godrej Properties employs a flexible approach to land acquisition, acquiring land outright and also entering into joint development agreements (JDAs) with landowners. Additionally, the company is acquiring land in many tier-II and III cities to offer housing plots.

Godrej Properties remains committed to delivering high-quality, sustainable, and innovative residential projects that meet the evolving needs of its customers. The company's success in Hyderabad is a testament to its strategic vision and the strong demand for premium real estate in the city.