Godrej Secures 14 Land Parcels To Build Projects Worth Rs 26K cr

New Delhi: Godrej Properties has bought 14 land parcels across major cities to build housing projects with revenue potential of about Rs 26,500 crore in the last fiscal year and will continue to acquire more land to grow its business, its Chairperson Pirojsha Godrej said.

The company bought these land parcels, all outright, in Mumbai Metropolitan Region (MMR), Pune, Delhi-NCR, Bengaluru, Kolkata, Ahmedabad and Indore.

In an interview with PTI, Pirojsha Godrej said, "Last financial year, we added about Rs 26,500 crore worth of new projects, as against the guidance of Rs 20,000 crore. This fiscal, we are again giving guidance of Rs 20,000 crore. Quite likely, we will exceed this by a good margin".

For business development, real estate developers are buying land outright and also partnering with landowners. Godrej Properties is one of the leading real estate developers in the country. It develops group housing projects mainly in Delhi-NCR, Mumbai Metropolitan Region, Pune, Bengaluru and Hyderabad. It has a presence in some smaller cities for plotted development.

According to its investors' presentation, the company bought 3 land parcels in Gurugram and 2 each in Greater Noida, MMR, Bengaluru and Indore. It purchased one land parcel each in Pune, Ahmedabad and Kolkata. Godrej Properties is bullish on Delhi-NCR market as the company had bought five land parcels in Gurugram and Greater Noida, which could generate a revenue of Rs14,000 crore.