Godrej Properties to develop residential project in Bengaluru with ₹5,000 crore booking potential

Godrej Properties elaborated that while the agreement for the sale of land, including the above-mentioned 62 acres was entered into by the company in 2014, the development did not commence at that time. Now with the 62-acre opportunity crystalising, the first phase of this project could be launched in the financial year 2025.

"We will aim to build an outstanding residential community, that creates long-term value for its residents," Godrej Properties CEO Gaurav Pandey said.

Last year, the company sold over 600 homes in its new project in Gurugram worth over ₹2,600 crore. This turned out to be the most successful launch ever for the company in terms of the value of sales achieved.

Godrej Properties Ltd. achieved 93% of its booking value guidance for the financial year 2024 by the end of the third quarter. However, the deliveries have only reached half of the guided full-year figure at the end of three quarters.

Its deliveries, at 6.5 million square feet, are only 52% of its full-year guidance of 12.5 million square feet.