Tag: Godrej Properties

Godrej Prop to develop new group housing project in Gurgaon

Godrej Prop to develop new group housing project in Gurgaon

03/07/2017 17:34

Real estate developer Godrej Properties Ltd on Monday said it has added a new group housing project in Gurgaon.

In a filing to the Bombay Stock Exchange, the company said, “Godrej Properties adds a new residential project in Gurgaon.”

This project will offer approximately 98,000 square meters (approximately 1.05 million square feet) of saleable area and will be developed as a modern group housing development, it added.

The company further said that, the project is located just 5 kms from NH 8 and is easily accessible via a network of main sector roads.

Commenting on the development, Godrej Properties, Executive Chairman, Pirojsha Godrej said, “This fits with our strategy of building our presence in the country’s leading real estate markets. We look forward to delivering an outstanding project.”

Meanwhile, shares of the company closed at Rs 523.35 apiece, up 0.74 per cent, from previous close on BSE.

Godrej Industries, arm to co-develop land in Bengaluru

Godrej Industries, arm to co-develop land in Bengaluru

15/06/2016 11:12

Godrej Industries said that its subsidiary Godrej Agrovet board has approved monetisation of its 100 acre land in Bengaluru through joint development with group company Godrej Properties .

“The board of directors of Godrej Agrovet (GAVL) has granted approval for joint development by GAVL and/or its subsidiaries, of land/s admeasuring approximately 100 acres, located at Sarjapur, Bangalore, with Godrej Properties, the developer,” the company said in a filing to the Bombay Stock Exchange.

As GAVL has not been carrying out any operational activity on the land for a long time and the land is available for alternate use, the board believed that GAVL would benefit through such asset monetisation by way of joint development on this land with the expertise of Godrej Properties.

Recently, Godrej Properties has partnered with AR Landcraft to develop 100 acre township project in Greater Noida.

Godrej Properties, the real estate arm of the Godrej Group, plans to develop a golf centric township on this land parcel with a saleable area of about 4 million sq ft.

In January, Godrej Properties had announced its entry into the Noida real estate market in tie-up with a local developer Lotus Greens.

Meanwhile, shares of the company were trading at Rs 360.60 apiece, up 0.91 per cent from the previous close at 11:09 hours on BSE.

Godrej Properties Q3 net up 10.1 pct at Rs 51.99 cr

02/02/2016 13:51

Leading real estate firm Godrej Properties Ltd (GPL) on Tuesday reported an increase of 10.1 per cent in its consolidated net profit after taxes (PAT) at Rs 51.99 crore for the October-December quarter of 2015, despite decline in its sales.

“The consolidated net profit of the company stood at Rs 47.24 crore during the same period a year ago,” Godrej Properties Ltd said in a filing to the Bombay Stock Exchange on February 02, 2016.

However, the consolidated total income of the Mumbai-based real estate developer fell by 16.4 per cent at Rs 450.30 crore during Q3 FY16, as compared to Rs 538.64 crore during the same quarter last fiscal.

Sales of the company during the October-December quarter shranked 17.5 per cent to Rs 388.55 crore, as compared to Rs 470.96 crore in Q3 FY 2015.

GPL’s net profit went up mainly on account of increase in other income and decrease in total expenditure. It’s total expenditure declined to Rs 345.95 crore from Rs 457.68 crore, while other income rose to Rs 28.01 crore from Rs 19.34 crore during the period under review.

Speaking on the performance, Godrej Properties, MD & CEO, Pirojsha Godrej said, “I’m happy to note that we have surpassed Rs.1200 crore in sales for the third consecutive quarter of this financial year. We are especially excited by thecustomer response to the launch of ‘The Trees’ in Vikhroli which was the most successful launch in the history of GPL in terms of value sold in the launch quarter.”

The company said that Q3 witnessed total booking value of Rs 1,214 crore and total booking volume of 1,028,832 sq ft as compared to total booking value of Rs 548 crore and total booking volume of 701,729 sq ft in third quarter of last fiscal.

Last month, the company tied up with Vihang group for development of a housing project on a 15-acre land in Thane, Mumbai. It also forayed into the Noida property market by partnering local developer Lotus Greens.

It has entered into a development management agreement to develop a group housing project in Noida. Spread over 36 acre, the project will offer around four million sq ft of saleable area. This will be it’s first project in Noida and sixth within the NCR.

Despite earnings, shares of the company were trading at Rs 302.20 apiece, down 0.31 per cent, from previous close on BSE at 13:49 hours.