Godrej Properties Raises Rs 6,000 Crore via QIP to Expand Housing Portfolio

Godrej Properties has successfully raised Rs 6,000 crore through a Qualified Institutional Placement (QIP) to fuel its expansion plans, driven by strong demand for residential plots and apartments. This issue saw participation from prominent international and domestic investors, including GIC, Blackrock, Aberdeen, Norges Bank, SBI Pension, and ICICI Prudential Life Insurance.

Pirojsha Godrej, Executive Chairperson of Godrej Properties, expressed gratitude for the strong investor confidence, stating, “We greatly appreciate the confidence and support of the investment.” He emphasized that the capital raise will enable the company to expand its business development portfolio while ensuring a robust balance sheet. Godrej reiterated the company’s focus on scaling operations through market share gains and margin expansion.

In the first six months of this financial year, Godrej Properties has added eight new land parcels, covering an estimated saleable area of approximately 11 million sq. ft. These new acquisitions are projected to yield a total booking value of around Rs 12,650 crore. The company’s land acquisition strategy includes both outright purchases and joint development agreements with landowners to further enhance its housing portfolio.

Godrej Properties is on track for a third consecutive year of significant growth, with sales bookings in the first half of the current financial year increasing by 90 percent. The firm has a strong presence in major markets such as Delhi-NCR, Mumbai Metropolitan Region (MMR), Pune, and Bengaluru. Recently, it has ventured into the Hyderabad market as part of its expansion strategy.

With this capital infusion, Godrej Properties aims to further solidify its position in the competitive real estate sector while maintaining sustainable growth. As demand for residential real estate continues to rise, the company remains well-positioned to capitalize on opportunities and continue its upward trajectory.