In an interview with PTI, Godrej Properties Executive chairman Pirojsha Godrej said: “We are pretty active on the Landfront. I think there is always a good chance, of course we want to pursue it.”
He emphasized that the company’s balance is very strong because of robust operational cash flows and also funds collected in December last year by qualified institutional placement (QIP).
“I think it is good, with the QIP that we did in December last year, the balance of the company is very, very strong. So if there are good opportunities, we will go after them,” said Pirojsha.
During the first quarter of this fiscal year, the company acquired five new land packages in Mumbai, Pune, Bengaluru and Panipat. These acquisitions were due to outright purchase and joint development agreements with landowners.
On these five new land packages, the company will build housing projects, which have a total income potential of RS 11,400 crore.pirojsha, said that the company will hopefully reach the annual goal to add projects worth 20,000 crore in the second or third quarter of 2025-26 Fiscal itself. Pune, Bengaluru and Hyderabad. However, the company acquires land in Tier II cities for the development of residential plots.
At the sale, Pirojsha Godrej said that the company is on schedule to meet or even exceed RS 32,500 crore sales bookings, as a target for this tax because the demand for housing remains strong.
During the tax year of 2024-25, the company’s sales booking rose by 31 percent to a record RS 29,444 Crore of RS 22,527 Crore in the previous year.
In the first quarter of this tax, Godrej Properties reported a decrease of 18 percent in his pre-sales or sales bookings to RS 7,082 Crore. Pirojsha attributed the deterioration of the pre-sales to the high basic effect and a slight delay in the launch of a few projects.
During the last two financial years, Godrej Properties was the largest real estate company in the country in terms of sales bookings.
The company will probably keep its highest rank for the third consecutive tax year if it achieves the sales bookings of RS 32,500 Crore.
On Financial Front, Godrej property recently reported an increase of 15 percent in his consolidated net profit to RS 598.40 Crore for the first quarter of this tax against RS 518.8 Crore in the period of a year ago.
However, the total income fell to RS 1,620.34 Crore in the April-June period of 2025-26 tax against RS 1.699.48 Crore in the corresponding period of the previous year. The company established in Mumbai recorded a net profit of RS 1,389.23 Crore on a total income of RS 6,967.05 Crore during the last financial year.
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