Godrej Properties Limited (GPL), a leading national real estate developer, announced its financial results for the second quarter ended September 30, 2023. Commenting on the performance of Q2 FY2024, Pirojsha Godrej, Executive Chairperson, Godrej Properties Limited, said, “The residential real estate sector in India has been very strong and resilient over the past two years and we believe the real estate cycle will continue to strengthen over the next few years. The significant levels of business development we have executed over the past several years provides us the opportunity to maximize the growth opportunities available in the market and our topmost priority is bringing these projects to market in the upcoming quarters.
We saw strong demand for our new launches this quarter and we are delighted with the response to our project, Godrej Tropical Isle in Noida which received bookings of more than INR 2,000 crores within the quarter making it GPL’s most successful ever launch. We remain on-track to exceed our bookings target of INR 14,000 crore in FY24 and are confident of also delivering our best ever cash collections and project deliveries.”
Godrej Properties brings the Godrej Group philosophy of innovation, sustainability, and excellence to the real estate industry. Each Godrej Properties development combines a 126-year legacy of excellence and trust with a commitment to cutting edge design, technology, and sustainability. In FY 2021, Godrej Properties emerged as the largest developer in India by the value and volume of residential sales achieved.
Godrej Properties has deeply focused on sustainable development. In 2010, GPL committed that all of its developments would be third party certified green buildings. In 2020 and again in 2021 and 2022, the Global Real Estate Sustainability Benchmark ranked GPL #1 globally amongst listed residential developers for its sustainability and governance practices.
In 2017, GPL was one of the founding partners of the Sustainable Housing Leadership Consortium (SHLC), whose mission is to spread sustainable development practices across the Indian real estate sector. In recent years, Godrej Properties has received over 400 awards and recognitions, including the Porter Prize 2019, The Most Trusted Real Estate Brand in the 2019 Brand Trust Report, Builder of the Year at the CNBC-Awaaz Real Estate Awards 2019, and The Economic Times Best Real Estate Brand 2018.
