Pirojsha Godrej, Government Chairperson of Godrej Properties, mentioned, “We raised Rs 6,000 crore throughout the third quarter by Certified Institutional Placement (QIP) route for progress capital”.
The corporate’s internet debt-to-equity ratio has come right down to 0.23, he added.
Pirojsha mentioned the corporate could be using this fund to accumulate land throughout main cities to increase its enterprise.
As per the presentation, Godrej Properties’ collections of funds from prospects towards pre-sales rose 27 per cent to Rs 3,069 crore throughout the third quarter of the 2024-25 fiscal, thereby bettering the corporate’s inside money stream state of affairs.
Godrej Properties is likely one of the main actual property builders within the nation with a major presence in Mumbai Metropolitan Area (MMR), Pune, Delhi-NCR and Bengaluru. The corporate has emerged as the biggest listed actual property developer throughout 2024 calendar yr by way of gross sales bookings, by promoting properties price Rs 28,800 crore. Final week, Godrej Properties reported a greater than 2.5-fold bounce in its consolidated internet revenue to Rs 162.64 crore within the December quarter on larger revenue amid robust housing demand. Its internet revenue stood at Rs 62.27 crore within the year-ago interval.
Whole revenue additionally greater than doubled to Rs 1,239.97 crore from Rs 548.31 crore within the corresponding interval of the previous yr.
Internet revenue surged to Rs 1,017.90 crore within the April-December interval of 2024-25 fiscal from Rs 254.01 crore within the year-ago interval.
Whole revenue rose to Rs 4,285.99 crore within the first 9 months of this fiscal towards Rs 2,419.40 crore within the corresponding interval of the previous yr.
