copy photo
google creative commons
The company intends to acquire more land by March for the construction of new projects. In an interview with PTI, Pirojsha Godrej, CEO of Godrej Properties, said that the company’s acquisition of plots of land will cross at least Rs 30,000 crore in terms of revenue in the current fiscal year.
Amid strong demand for homes, Godrej Properties has acquired 15 lots so far in the current fiscal year (2022-23). The company expects sales revenue of Rs 27,500 crore through these. The company intends to acquire more land by March for the construction of new projects. In an interview with PTI, Pirojsha Godrej, CEO of Godrej Properties, said that the company’s acquisition of plots of land will cross at least Rs 30,000 crore in terms of revenue in the current fiscal year.
This is twice the goal set for the current fiscal year. The company is acquiring land through direct purchase or through joint ventures with the owners. Godrej said: “We are very happy with the last quarter. It was a very strong quarter from an operational perspective. It has been an exceptional quarter in terms of business growth.” The company has added 15 new projects with a total salable area of 200 m2 so far this year.
Its estimated reserve value is Rs 27,500 crore. Godrej Properties added nine new projects in Delhi-NCR, the Mumbai Metropolitan Region (MMR) and Pune in the third quarter. Its sales reserve is estimated at Rs 23,050 crore. The company has a lot of cash. In such a situation, you are buying more land directly. However, Godrej said that talks are being held with various landowners for the joint development of the company’s projects.
Disclaimer:Prabhasakshi has not edited this news. This news has been published from PTI-language feed.
In other news