Godrej Properties Limited Chairman feels optimistic and hopeful about achieving a 10,000 crore sales target by the end of the current financial year.
In the recent news, Godrej Properties Limited was amped up to scale their housing unit supplies to a whopping 15,000 crore worth of properties. This was evident from the fact that Godrej Properties invested in land purchases and collaborated with the landowners. The major motivation came from their sales performance from the first quarter, which was apparently “solid” as per Godrej Properties Limited’s executive chairman Pirajsha Godrej. To paint a picture in numbers and data, the ‘solid’ first-quarter sales bookings were reported to be five times higher than their previous counterparts. More precisely, the company reported an INR 2,520 crore jump. And consequently, the Godrej Properties New Launch will also be expected to deliver similar results.
The driven chairman is confident about keeping up with the successful run in the coming quarters, despite the rise in interest rates of housing loans and inflation hitting the real estate market. Further, he added that a quarter of the company’s goals are already achieved, and it will only be a matter of time before they reach their final destination for the financial year. They are confident with how the company is performing, and it only makes sense that they continue with the trend. In the previous financial year, Godrej properties projects managed to sell properties worth INR 7,861 crore. And they are aiming to make that a clean INR 10,000 crore for the ongoing financial year.
As part of the Godrej Properties’ new projects, there are plans to supply 20 residential projects, including new infrastructures and renovation of existing projects. Compared to constructing 6.5 million square feet of residential marvels in the previous year, Godrej Properties’ upcoming projects will incorporate 10 million square feet of pristine housing societies for the current year. Mr. Pirajsha feels that there is a huge potential in the real estate and land development sector in key cities like Delhi NCR, Bangalore, Pune, and Mumbai, and with a helping hand from land owners, a real difference can be made.
A lot has already been planned and ready to execute. With the initial investment of 15,000 Crore, the Godrej Properties Projects is fasttrack on covering many projects at the moment. With an overall USD 1 Billion throughout this year, Godrej New Projects will receive a major booster paving its way to the targetted sales. Some of the plans already underway include a potential INR 575 crore revenue project in Nagpur, where construction is in progress on a humongous 58-acre land utilising 1.5 million square feet.
