Godrej Properties Aims to Raise INR 6,000 Crore Following Record Sales of INR 22,527 Crore
Godrej Properties, a leading real estate developer in India, has established a strong presence in key markets such as Delhi-NCR, MMR, Pune, and Bengaluru, with a recent entry into Hyderabad. The company achieved a record INR 22,527 crore in sales bookings
Godrej PropertiesReal EstateFundraisingSales BookingsIndian MarketReal EstateOct 07, 2024
Godrej Properties is renowned for its robust presence in key markets such as Delhi-NCR, the Mumbai Metropolitan Region (MMR), Pune, and Bengaluru. The company has recently expanded its footprint into the Hyderabad market, further solidifying its position as a leading real estate developer in India.
In the past fiscal year, Godrej Properties outperformed its peers, achieving a record INR 22,527 crore in sales bookings, making it the highest among listed real estate firms in 2023-24. The company has set an ambitious target to achieve INR 27,000 crore in sales bookings for the current fiscal year. The first quarter of this fiscal year saw a significant jump in sales bookings, which grew nearly fourfold to INR 8,637 crore, compared to INR 2,254 crore during the same period the previous year.
This surge in sales and the company's strategic expansion into key markets demonstrate Godrej Properties' ability to adapt and thrive in the competitive real estate sector. The company's strong growth trajectory and forward-looking approach are poised to maintain its leadership position in the Indian real estate market. With a record-breaking performance and ambitious growth targets, Godrej Properties is well on its way to surpassing previous achievements and continuing its success in the coming years.
Frequently Asked Questions
How much does Godrej Properties plan to raise through securities issuance?
Godrej Properties plans to raise up to INR 6,000 crore through the issuance of securities.
What markets does Godrej Properties have a strong presence in?
Godrej Properties has a strong presence in key markets such as Delhi-NCR, the Mumbai Metropolitan Region (MMR), Pune, and Bengaluru. They have also recently expanded into Hyderabad.
What was Godrej Properties' sales booking achievement in the last fiscal year?
Godrej Properties achieved a record INR 22,527 crore in sales bookings in the last fiscal year, marking an 84% increase over the previous year.
What are the methods through which Godrej Properties will raise funds?
The funds will be raised through the issuance of securities, including equity shares, debentures, preference shares, and other eligible securities, via public and/or private offerings, qualified institutions placement, rights issues, or further public offers.
What is Godrej Properties' target for sales bookings in the current fiscal year?
Godrej Properties has set an ambitious target to achieve INR 27,000 crore in sales bookings for the current fiscal year.
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