GPL lines up ₹5,000-cr for residential & retail realty projects

According to executive chairman of Godrej Properties (GPL), Pirojsha Godrej, the company intends to invest ₹5,000 crore in the next two years, mainly on construction of mid income housing. In fact, shortly after clocking better booking volumes in 2018-19, GPL generated ₹2,100 crore earlier this year. As per the prevailing scenario in the realty market, smaller units and more affordable projects have recorded better business volumes than luxury housing and developers with a good track record are better positioned. GPL had bought RK Studios in Mumbai earlier this year, which it plans to build a high-end residential project with some retail space. A turnaround in the realty sector seems to be round the corner with inventory levels reducing and project launches happening at an appreciable pace.