Godrej Properties Soars in Hyderabad: Rs 2,600 Crore in First Year
Godrej Properties, one of India's leading real estate developers, has achieved a remarkable milestone in Hyderabad by selling housing properties worth Rs 2,600 crore in its first year of operation. This impressive performance has fueled the company's plans to expand its business in the city, which offers substantial growth opportunities.
In January this year, Godrej Properties launched its first project in Hyderabad at Kokapet, followed by a second project in the July-September quarter. According to Pirojsha Godrej, Executive Chairperson of Godrej Properties, the company has achieved sales bookings of more than Rs 2,600 crore in its first calendar year of operation in Hyderabad.
The Hyderabad market is characterized by a significant demand for premium and luxury residential properties, and Godrej Properties is well-positioned to capitalize on this trend. Pirojsha Godrej noted, 'We launched our first project in Hyderabad during January-March quarter. We launched our second project in July-September quarter. Between these two projects, we have achieved sales bookings of more than Rs 2,600 crore of in our first calendar year of operation in the city.'
Godrej Properties has a strong presence in the Mumbai Metropolitan Region (MMR), Delhi-NCR, Pune, and Bengaluru residential markets. The company's successful entry into Hyderabad marks a strategic expansion into a market with immense growth potential. Buoyed by the robust sales performance, Godrej Properties is aggressively looking for more land in Hyderabad to develop future projects.
Recently, Godrej Properties secured a 5-acre land parcel in Neopolis, Kokapet, through an e-auction conducted by the Hyderabad Metropolitan Development Authority (HMDA). The company 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 also acquired a 7.825-acre land parcel in Kukatpally, Hyderabad. These land acquisitions underscore the company's commitment to expanding its footprint in the city and meeting the growing demand for high-quality residential properties.
Across all markets, Godrej Properties has achieved a 13% growth in sales bookings to Rs 15,587 crore in the first six months of this fiscal year, compared to Rs 13,835 crore in the same period last year. The company is confident of achieving its sales bookings target of Rs 32,500 crore for the full fiscal year. In the 2024-25 fiscal year, Godrej Properties sold properties worth Rs 29,444 crore, primarily in the housing segment.
With housing markets across major cities witnessing strong demand, Godrej Properties is actively launching new projects and acquiring land parcels for future development. The company aims to add Rs 30,000 crore of revenue potential through land acquisitions in the current fiscal year. Under its new business development strategy, Godrej Properties acquires land outright and also enters into joint development agreements (JDAs) with landowners.
Godrej Properties is also exploring opportunities in tier-II and III cities by acquiring land for housing plots. This strategic approach ensures the company's continued growth and leadership in the Indian real estate market.
