With an aim to step higher on the ladder of success and growth, the real estate company Godrej Properties, which is a subsidiary arm of Godrej Industries Ltd, is planning to launch 15 new projects, inclusive of the one in Noida, and also plans to sale off its completed commercial assets worth a value of Rs 1,500 crore in this financial year.
The company is on a sky high as it touched a record sales bookings of Rs 5,038 crore in the financial year 2015-16 which was up from previous year by a whopping 88%, and a major contribution of Rs 1,479 crore, came from the sale of 4,35,000 sq ft of office space at Godrej BKC, Mumbai.
As per the MD and CEO of the company, Godrej Properties is targeting to introduce 5 new projects and 10 new stages of existing projects across prime cities of the country in the financial year 2016-17. A new housing project in Noida is also on the cards, this financial year, which will comprise of4 million sq ft of saleable area. The company Godrej properties has recently entered into the Noida real estate market by tying up with one of the local builders Lotus Greens. In this new launch project, around 4000 flats shall be developed in a phased manner.
The company shall also be proposing on selling off the commercial space at Bandra Kurla Complex (BKC) in Mumbai, Chandigarh and Kolkatta but this shall happen only after the encashment of completed commercial assets.
The company has around 1 million sq ft of space in Chandigarh and Kolkata, which is worth about 15,000 crore and over 3, 00,000 sq ft of commercial space left in the BKC project .
It is also on the lookout for projects for distribution of funds from its newly created dedicated fund management subsidiary Godrej Fund Management (GFM). With APG as the prime investor, GFM managed to raise $275 million for Godrej Residential Investment Program II (GRIP II).
Upcoming Godrej Project in Mumbai
Another brand new creation by Godrej Properties is coming up in Thane, Mumbai. The project has a modern design and has been done with detailed and minute planning which is an ideal example of new generation high quality architecture. The project has an unbeatable location and provides smooth access to all the prime locations of the city which makes it a preferred destination for hassle free commuting. Many of the top schools, malls, hotels and hospitals lie in close proximity. It is at a distance of 15 minutes’ drive from the western express highway. The landscape of the complex is very pleasing and well maintained with open green spaces all around. It has 14 acres of land for mixed use development .On the offer are spacious and skillfully designed 1.5,2,2.5,3BHK residential apartments fully equipped with world class comforts. The layouts of the accommodations are well planned, and allow maximum usage of space, and free flow of clean and fresh air and ample natural daylight to come inside. Big balconies and well placed large windows provide panoramic views of in and around the campus. Godrej’s New Project at Thane Mumbai is completely safe and secure and has basic provisions like 24*7 power backup, water supply, manned security and CCTV surveillance. It is supported by easy and flexible payment plans.
The company Godrej Properties is well known for creating commercial, residential and township complexes spread across 115 million sq ft in over 12 cities. It reported a 21% growth in its consolidated net profit in financial year 2015-2016 and reached to Rs 231.10 crore, from Rs 190.9 crore in the previous fiscal year. The income from operations also grew by 43 % and touched Rs 2,633.96 crore as against Rs 1,843.09 crore in 2014-15.
Sample of Master Bedroom, Godrej Garden City, Ahmedabad
About Godrej Properties
It is one of the top realty development companies in the country based in Mumbai, Maharashtra. Godrej Properties has its real estate development projects at different stages of development across 12 cities in India. The company is fully integrated and completed involved in all the activities related to the development of commercial and residential property market. It has its own team of in house professionals and also partners with various other companies for international as well as domestic operations.
The residential portfolio of Godrej Properties Ltd comprises of different types of accommodations in varying sizes to suit the requirements of customers of all age groups as per their tastes and budgets. Talking about the commercial portfolio, it builds commercial spaces catering to international and blue chip Indian companies, IT parks meeting the specifications of IT/ITES companies and even retail space. The township portfolio comprises of comprehensive townships including both commercial and residential developments. Initially started in MMR in 1991, gradually the company expanded its presence in other cities like Chandigarh, Pune, Chennai, Bangalore, Hyderabad, Mangalore, Kolkatta, Ahmedabad and Kochi.
Godrej Properties has been a recipient of many awards and recognitions like it has been awarded with the ‘Brand Excellence Award in Real Estate Sector’ at the Brand Excellence Awards 2015, 'Developer of the Year – Residential' at the Realty Plus Excellence Awards (South) 2015, ‘Golden Peacock Award for Sustainability' for the year 2015 and the company also won “Best Real Estate Development Company – India’ at the 2015 Real Estate & Property Awards.
The company Godrej Properties strives to be amongst the country’s best 3 real estate development companies besides being the most trusted brand in this industry. It delivers excellent value to all its stakeholders through superior and unbelievable spaces crafted after deep customer focus and acumen.
Godrej Properties follows highest quality norms for project execution, services and materials and partners with best-in-class associates. It targets on customer requirements and incorporates them in its design, thus ensuring exclusive and innovative designs for all its developments.
