Godrej Properties Achieves Rs 2,600 Crore Sales in Hyderabad's First Year

Godrej Properties, one of the leading real estate developers in India, has made a significant mark in Hyderabad by selling properties worth Rs 2,600 crore in the first year of operation. This achievement underscores the company's strong performance in a market that offers immense growth potential.

In January this year, Godrej Properties officially entered the Hyderabad housing market with the launch of its first project at Kokapet. Following this, the company launched a second project in the July-September quarter. Between these two projects, Godrej Properties has achieved sales bookings of more than Rs 2,600 crore within the first calendar year of operation in the city, as highlighted by Pirojsha Godrej, the Executive Chairperson of Godrej Properties.

Pirojsha Godrej emphasized the huge growth potential of the Hyderabad market, stating that the company intends to expand its business in the city to tap into the strong demand for premium and luxury residential properties. Godrej Properties has a strong presence in other major cities such as Mumbai Metropolitan Region (MMR), Delhi-NCR, Pune, and Bengaluru.

This year, Godrej Properties forayed into the Hyderabad market and is currently developing group housing projects in these five cities. Buoyed by the robust sales performance in Hyderabad, the company is actively looking for more land in the city. Recently, Godrej Properties won a bid to acquire a 5-acre land parcel in Hyderabad and plans to develop a housing project worth Rs 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 for this land parcel, where it plans to develop a premium residential project with a saleable area of about 2.5 million square feet and an estimated revenue potential of about Rs 4,150 crore.

In August, Godrej Properties acquired a 7.825-acre land parcel in Kukatpally, Hyderabad. Across all markets, Godrej Properties achieved a 13 percent growth in sales bookings to Rs 15,587 crore in the first six months of this fiscal year, up from Rs 13,835 crore in the year-ago period. The company is confident of achieving its sales bookings target of Rs 32,500 crore for the full fiscal year.

With housing markets across 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 Rs 30,000 crore of revenue potential through land acquisitions. Under its new business development strategy, the company acquires land outright and also enters into joint development agreements (JDAs) with landowners.

For offering housing plots, Godrej Properties is acquiring land in many tier-II and III cities. The company's aggressive expansion and strategic land acquisitions reflect its commitment to meeting the growing demand for quality residential properties in India.

Godrej Properties' success in Hyderabad is a testament to the company's strong market understanding and its ability to deliver high-quality projects that meet the needs of modern homebuyers. As the company continues to expand its footprint in Hyderabad and other key markets, it is well-positioned to capitalize on the burgeoning real estate sector in India.