Godrej Properties is India’s largest realty player

Godrej Properties
12/07/2021

You may believe that the real estate market is dull but Godrej Properties begs to differ. Consider these numbers. Over the next couple of years, Godrej Properties plans to invest close to $1 billion or Rs.7,500 crore to acquire and develop new projects. Secondly, Godrej has confirmed that in the last fiscal year, it sold 9,345 homes which is an average of 25 homes sold per day. To bankroll its grand plans, Godrej Properties has also raised a whopping Rs.3,750 crore through placement to Qualified Institutional Buyers (QIBs).

What has all this done to the top line numbers of Godrej Properties. For fiscal year 2020-21, Godrej Properties emerged as the largest real estate developer in the Indian markets. Godrej Properties sales bookings for the year were 14% higher at Rs.6,725 crore. This virtually puts the largest real player in the real estate space, Macrotech Developers (formerly Lodha Developers), to the second place. During the fiscal 2020-21, Macrotech reported total sales of Rs.6,000 crore, more than 10% lower than Godrej Properties.

It is said that the proof of the pudding lies in its eating and the proof of a stock’s attractiveness lies in its stock price. Since Sep-20, the stock of Godrej Properties has almost doubled from Rs.819 to Rs.1,517. This is largely on the back of the emergence of Godrej in the top league among real estate developers. More than anything, the markets appear to be excited about the billion dollar investment that the company is infusing into expanding its business to the next trajectory. 
 

Aticles to read next

Recent Articles

Categories

People are also reading