Godrej one of the leading builders and with an impactful niche in real estate sector and they are planning to enter in Noida where they will present different kinds of residential projects, according to a top official at the company.
Godrej has tied up already for a residential project in Okhla, Delhi, so Godrej properties have a strategy to develop real estate projects through joint ventures with land owners.Undoubtedly,“Mumbai, Delhi-NCR and Bangaloreare the major destinations for us and planning to bring more projects in Delhi-NCR,” added by Godrej properties managing Director and CEO Pirojsha Godrej. And also we don’t have Projects in Noida and will add more projects there.
Also the company is on speaking terms with few potential partners for developing a house in Noida and also added it is a good time to come up with the projects because of the slowdown. When asked by what time they would launch the projects, they said it will be in the next fiscal and also waiting for the approval to start the project.
By signing a development agreement with Southend infrastructure for 5 acre luxury group housing project at Okhla. Above all, the company is performing pretty good despite the slowdown and it will launch more projects than last fiscal.
The company will stick with the strategy to add projects through JVs and won’t opt for outright land purchase.
Residential it quite slow at the moment and in the last six months NCR was the slowest. In the previous week, Godrej announced an investment of Rs 150 crore to establish a New Residential Project in Gurgaon and is going to develop 306 apartments in this project that is mainly spread over 4.5 acre.
Also Mumbai based Godrej properties is developing commercial, township and residential projects in 12 cities with 100 million sq ft out of which 20 million sq ft is under construction. The company’s net profit stood up to Rs 138.4 crore on a revenue of Rs 1,047.6 crore.
