Godrej Properties will hold a meeting of the Board of Directors of the Company on 4 February 2025.Powered by Capital Market - Live News

Godrej Properties announced the launch of Godrej Madison Avenue its first premium residential project in Kokapet, Hyderabad, underlining its commitment to expanding its footprint in Hyderabad`s high-growth residential real estate market. Situated on ~3 acres of land with an estimated booking value of ~Rs 1,300 crore, Godrej Madison Avenue will feature ~1.2 million square feet of saleable area, offering premium residential apartments in 3 & 4 BHK configurations.This project brings to life Manhattan-inspired architecture and design, catering to the evolving preferences of homebuyers seeking sustainable, wellness-driven living spaces in high-potential locations. Thoughtfully planned to complement a modern lifestyle, the development features Manhattan-style landscaped spaces, a Central Park-inspired fountain, and a triple-height lobby.Key features include exclusive terrace amenities, such as a gym, badminton court, and lounge, offering unparalleled views and experiences. The project also boasts a range of well-curated amenities, including jogging tracks, pickleball courts, water features, and a three-level clubhouse. Together, these elements create a harmonious balance of elegance, functionality, and wellness for contemporary living. Powered by Capital Market - Live News

Godrej Properties  today announced that it has acquired ~24-acres of land in Indore. The development on this land will primarily comprise premium plotted residential units and will offer an estimated saleable area of ~6.20 lakh square feet. After acquiring 46 acres in July`2024 on Indore-Ujjain Road, this will be GPL`s second acquisition in Indore thereby strengthening its presence in the city of Indore. Located just off prime Indore bypass road, a rapidly growing real estate hub, the land is connected to key areas like Dewas and Palda with excellent infrastructure. The area boasts seamless connectivity via major junctions like Chhatrapati Shivaji Square and other major nodes of the city. It features renowned institutions, top hospitals like CHL Hospital, leisure attractions such as Phoenix Inside Mall, and hotels like Sheraton. Proximity to IT hubs like Crystal IT Park and Software Technology Parks of India enhances employment opportunities, making it an ideal residential destination.Powered by Capital Market - Live News

Godrej Properties announced that it has raised Rs 6,000 crore through the QIP route. The issue saw a strong demand of ~4X the size of the QIP and was fully covered with long only demand. The issue also had a healthy mix of leading international and domestic investors including GIC, Blackrock, Aberdeen, Norges Bank, SBI Pension, and ICICI Prudential life Insurance. As a result of the QIP, GPL`s Net Worth has increased by more than 50% while the equity dilution was 7.68%. GPL`s gearing ratio will come down to below 0.2:1 from 0.7:1 as of 30 September 2024. With bookings growth of 56% in FY23, 84% in FY24 and 90% in H1 FY25, GPL has achieved a tremendous growth trajectory in recent years and is well positioned to substantially surpass its FY24 booking value guidance of 27K crore. GPL intends to use the net proceeds received from this issue to build a project pipeline that allows it to scale the business rapidly in the years ahead. GPL has already surpassed its business development guidance for FY25 of Rs 20,000 crore of estimated booking value in the first 7 months of the year and continues to have strong visibility for rest of the year. Godrej Properties was the largest real estate developer in India by bookings in FY25 and the fastest growing large business in India across sectors in FY24 with sales growth of 84%.  Jeffries, Morgan Stanley, Bank of America, and Kotak were the bankers for the QIP. Powered by Capital Market - Live News

Godrej Properties has approved the allotment of 2,31,21,387 equity shares to the eligible qualified institutional buyers at an issue price of Rs 2,595 per equity share (including a premium of Rs 2,590 per equity share) which includes a discount of Rs 132.44 per equity share (4.86% of the floor price) against the floor price of Rs 2,727.44 per equity share aggregating to Rs 6,000 crore. Pursuant to the allotment, the paid up equity share capital stands increased from Rs 139.03 crore, comprising of 27,80,62,112 equity shares to Rs 150.59 crore, comprising of 30,11,83,499 equity shares.Powered by Capital Market - Live News