Realty firm Godrej Properties Ltd has added seven housing projects since April 2021, for future development with sales potential of over Rs 9,500 crore and aims to expand its portfolio in a big way this fiscal.
Godrej Properties Executive Chairman Pirojsha Godrej said the company will add more projects during this fiscal year to achieve higher growth. Mumbai-based Godrej Properties purchases land outright as well as forms partnerships with land owners for future development.
On the outlook of this fiscal for new business development, Godrej said the company would add more projects compared to the previous financial year. "The pipeline of new deals is very strong. We see a very strong year for new business development. Our cash flow is healthy and net debt is around ?400 crore only," he said.
Godrej Properties had earlier announced its plans to invest around Rs 7,500 crore over the next 12-18 months on acquisition and development of new real estate projects. "We have deployed some amount in a few projects that we added last year. But most of the fund is still available," he added
