New Delhi: Godrej Properties has achieved sales of housing units worth Rs 2,600 crore in its first year in Hyderabad. The company is now planning to grow its presence in the city, which offers significant growth potential.
In January, Godrej Properties entered the Hyderabad market, launching its first project in Kokapet.
Pirojsha Godrej, Executive Chairperson, shared in an interview that the company has seen excellent performance in Hyderabad. “We started our first project in the January-March quarter and launched a second one between July and September. Together, these projects have brought in sales bookings exceeding Rs 2,600 crore in our first year,” he said.
He emphasized the vast growth potential in Hyderabad and expressed a desire to expand to meet the strong demand for premium and luxury homes.
Godrej Properties is a major real estate developer with a strong presence in Mumbai, Delhi-NCR, Pune, and Bengaluru. This year, it ventured into Hyderabad, developing group housing projects across these five cities.
Encouraged by strong sales in Hyderabad, the company is actively seeking more land in the area. Recently, they won a bid to acquire a 5-acre plot for a new housing project valued at Rs 4,150 crore.
The company participated in an e-auction by the Hyderabad Metropolitan Development Authority (HMDA) for land in Neopolis, Kokapet. They emerged as the highest bidder and plan to develop a premium residential project with a saleable area of about 2.5 million sq ft, expecting revenue of about Rs 4,150 crore.
In August, Godrej Properties acquired a 7.825-acre land parcel in Kukatpally, Hyderabad.
Overall, the company saw a 13% increase in sales bookings, reaching Rs 15,587 crore in the first six months of this fiscal year, up from Rs 13,835 crore in the previous year.
The company aims to achieve sales bookings of Rs 32,500 crore for the full fiscal year. Last year, they sold properties worth Rs 29,444 crore.
With strong demand in major cities, Godrej Properties is launching new projects and acquiring land for future developments. Their goal is to add Rs 30,000 crore in revenue potential through land acquisitions this fiscal year.
The company is acquiring land outright and entering joint development agreements (JDAs) with landowners. They are also purchasing land in tier-II and III cities to offer housing plots.
