As a part of its strategy to expand, Godrej Properties has been able to buy six more land parcels in the second quarter of the financial year 2024-25. In a detailed report filed by PTI on October 12, the company is well prepared to develop housing projects worth nearly Rs 9,650 crore. These acquisitions replicate the strategic response of the company to strong demand in the market.

Godrej Properties witnessed sales bookings grow by 3% in the July to September quarter to approximately ₹5,200 crores as it rides higher consumer appetite for residential real estate. The company during the period did witness an acquisition of land through outright purchases and partnerships for joint development with landowners, forming a core component of the growth strategy.

Godrej Properties acquired a total of eight land parcels in the first half of the fiscal year, thereby adding a saleable area of an estimated 11 million square feet. The expansion would translate into an aggregate estimated value of bookings at ₹12,650 crore. The potential bookings from these six newly acquired parcels in Q2 alone are estimated to be around ₹9,650 crore.

Godrej Properties is looking to continue its strong launch pipeline “not just for the current year but for years to come,” said Gaurav Pandey, Managing Director and CEO, while heaving a sigh of justification for such acquisitions. He underlined how the company had achieved new business development and land acquisition at ₹12,650 crores in April-September alone, accounting for 63% of its annual goal.

The projects included in the company’s portfolio are Golf Course Road in Gurugram and it recently forayed into the Indore market, thus spreading its geographical footprint more diversely.

Godrej Properties aims to book total sales of ₹27,500 crore for fiscal 2024-25, consolidating its pursuit of capitalizing well on the market conditions and showing a quality performance across all its operations.