Realty firm Godrej Properties will soon launch a luxury housing project in Gurugram with an estimated revenue potential of around Rs 3,000 crore as it seeks to encash a rise in demand for premium residential properties.
The company will develop nearly 750 apartments in a 9.5-acre housing project
Godrej Properties gears up for a luxury housing project in Gurugram, estimating a Rs 3,000 crore revenue. Godrej Aristocrat will offer 750 apartments starting at Rs 4 crore each, already attracting over 1,200 potential buyers. Despite soaring prices, Gurugram s market remains strong. The firm targets a significant sales goal of Rs 14,000 crore this fiscal, eyeing launches in Delhi-NCR, Noida, Gurugram, and other key cities. Amid a 48% sales growth, its consolidated net profit rose by 22% to Rs 66.80 crore.
According to real estate consultants, Godrej Properties has started seeking expressions of interest (EOI) from potential homebuyers and already received more than 1,200 EOIs.
Realty firm Godrej Properties net debt rose 17 per cent in the July-September quarter to Rs 6,174 crore mainly due to fund acquisition of land parcels.
According to its investors presentation, the net debt of Mumbai-based Godrej Properties stood at Rs 6,174 crore as on September 30, 2023. Its net