Mumbai-based realty major Godrej Properties is targeting to add new housing projects worth about Rs 15000 crore this financial year. To achieve this target, Godrej Properties will adopt a strategy of outright purchase of land and forming joint ventures with land owners.
The company’s launch pipeline includes about 20 residential projects , including new ones and new phases of existing projects. As opposed to 6.5 million sq ft in 2021-22, Godrej Properties anticipates delivering 10 million square feet within the current financial year.
Meanwhile, Godrej Properties is riding high on the five-fold increase in sales bookings to Rs 2520 crore in April-June quarter, despite a rise in mortgage interest rates and increase in housing costs. For the full financial year 2022-23, the group has set a sales booking target of Rs 10000 crore against the sales bookings of Rs 7861 crore achieved during the fiscal year 2021-22.