Godrej realty plans projects worth Rs. 5,038cr

Godrej Realty Projects
Godrej Properties achieved a record-sales bookings of Rs 5,038-cr in 2015-16 fiscal, 88% up from previous year, which is largely due to surging sales of 4,35,000 sq ft of commercial space at Godrej BKC, Mumbai, for Rs 1,479cr. In 2016-17 fiscal, it is targeting to launch 5 new projects and 10 new phases of existing projects across major cities, Managing Director and CEO Pirojsha Godrej, said, adding that in view of the surging home buyer's sentiment across the country, the builder has decided to launch 15 new projects, including one in Noida, and also will sell its completed commercial assets worth Rs 1,500-cr during this fiscal. The company is expected to launch a housing project in Noida comprising 4 million sq ft of saleable area in this fiscal. Godrej Properties, which is a real estate arm of the Godrej Group, recently forayed into the Noida market by partnering local developer Lotus Greens whereby it is targeting to build 4,000 flats in this project in a phased manner. The company is focusing on the sale of commercial space at Bandra-Kurla Complex (BKC) in Mumbai, Kolkata and Chandigarh. Godrej Properties has about 3,00,000 sq ft of office space left in the BKC project and about 1 million sq ft of space in Kolkata and Chandigarh, which is worth about Rs. 15,000cr, he added.

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