Godrej Properties Ltd announced on Monday that it had sold 683 housing units for more than Rs 1,000 crore in its new residential project in Hyderabad, owing to strong consumer demand.
In a regulatory filing, the company stated that it sold inventory worth more than Rs 1,000 crore in its project 'Godrej Regal Pavilion' in Rajendra Nagar, Hyderabad.
Key Highlights
- Godrej Properties sells 683 housing units worth over ₹1,000 crore in Hyderabad’s new Regal Pavilion launch.
- Strong consumer demand fuels ₹1,000 crore sales milestone at Hyderabad’s maiden project by Godrej Properties.
The project began earlier this month. At the time of its launch, the company had sold 683 homes totaling 1.20 million square feet. The total developable area of this large project is 4.14 million square feet, with an estimated revenue potential of Rs 3,600 crore.
Regarding the customer response, Gaurav Pandey, MD & CEO of Godrej Properties, stated, "This outcome reflects the rising preference for trusted, branded residences and Hyderabad's strong growth potential."
Godrej Properties recently bought 7.82 acres of land in Hyderabad at auction for Rs 548 crore. This upcoming project has an estimated revenue potential of Rs 3,800 crore.
Also Read: Centrum Capital to Sell Housing Finance Arm to Weaver for Rs 600 Cr
Godrej Properties is a top real estate company in the country. It has a strong presence in the Mumbai Metropolitan Region, Pune, Bengaluru, Delhi-NCR, and Hyderabad. The company has expanded into many tier II cities, developing residential plots in large townships.
Godrej Properties has been aggressively acquiring land parcels to expand its business, both through outright purchases and joint ventures with landowners.
