Godrej Properties Achieves Rs 2,600 Cr Sales Debut in Hyderabad

Godrej​‍​‌‍​‍‌​‍​‌‍​‍‌ Properties has made an impactful debut in the Hyderabad property market by achieving real estate sales worth more than Rs 2,600 crores in its maiden year of operations city-wide.

The performance is a reflection of the company’s belief in the vibrant market of Hyderabad and the consequent need for high-end and luxurious residential projects, a top company official stated.

Key Highlights

• Rs 2,600+ crore sales in Godrej Properties’ first year in Hyderabad.
• Company plans rapid expansion with major land acquisitions in the city.
• Overall sales bookings rise 13% amid strong housing demand.

The real estate major’s foray into Hyderabad was marked with the launch of its inaugural residential project at Kokapet in January this year and a second development in the July–September quarter.

“It is through the combination of these two projects that we have been able to realize more than Rs 2,600 crore sales bookings in our first calendar year of operation in Hyderabad,” said Pirojsha Godrej, Executive Chairperson of Godrej Properties.

He termed the Hyderabad market as one “brimming with tremendous growth potential” and pointed to the company’s scheme of increasing its footprint in the city.

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On the back of the upbeat response, Godrej Properties is aggressively scouting for fresh land acquisition opportunities in Hyderabad. Lately, the firm was the top bidder in an e-auction held by the Hyderabad Metropolitan Development Authority (HMDA) for the purchase of a five-acre land parcel in Neopolis, Kokapet.

The envisaged luxury residential project on this site is going to have a saleable area close to 2.5 million sq ft and an estimated revenue potential of around Rs 4,150 crore. Prior to this, in August, the company had bought a land parcel spanning 7.825 acres in Kukatpally.