Godrej Properties Targets Rs. 30,000 Cr GDV with Aggressive Land Buys

Godrej Properties, one of India’s leading real estate developers, remains strongly optimistic about housing demand and is gearing up for extensive land acquisitions this fiscal.

According to Executive Chairperson Pirojsha Godrej, the company aims to secure land parcels with a total revenue potential of around Rs. 30,000 crore, reflecting its bullish outlook on the market.

The developer has been actively acquiring land outright as well as entering partnerships with landowners to expand its footprint across key cities.

Key Highlights

• Godrej Properties targets Rs. 30,000 crore GDV in land acquisitions this fiscal
• New projects include 75-acre Nagpur land and 30-acre Bengaluru township
• Sales bookings rise 13 percent to Rs. 15,587 crore with strong full-year outlook

During an interview with PTI, Pirojsha mentioned that the company’s business development performance in the first half of the fiscal has been robust, with an equally promising pipeline for the remaining months. Godrej Properties has already surpassed its business development guidance of Rs. 20,000 crore for this fiscal year. "Land market has heated up. But, we should do at least Rs. 30,000 crore GDV (gross development value) this full fiscal year under the business development," Pirojsha told PTI.

Recently, 75 acres in Nagpur were acquired for a plotted residential project with an estimated Rs. 755 crore revenue potential. Similarly, the company acquired 30 acres in South Bengaluru to develop a township expected to generate Rs. 3,500 crore in revenue.

Also Read: Godrej Properties Expands Bengaluru Project to Rs. 3,500 Crore

Focusing also on project execution, Godrej Properties reported a 13 percent growth in sales bookings, reaching Rs. 15,587 crore in the first six months, and is confident of achieving its Rs. 32,500 crore full-year sales target. The company continues to expand in Delhi-NCR, MMR, Pune, Bengaluru, Hyderabad, and multiple tier II and III cities.