Godrej Properties is planning to launch 15 new projects, including one in Noida, and sell its completed commercial assets worth Rs. 1,500 crore during this fiscal. The company achieved record sales bookings of Rs 5,038 crore in 2015-16 fiscal. The company is expected to launch a housing project in Noida, comprising 4 million sq ft of saleable area in this fiscal. Godrej Properties, recently forayed into the Noida market by partnering local developer Lotus Greens. About 4,000 flats will be constructed in this project in a phased manner. The company is also focusing on the sale of commercial space at Bandra-Kurla Complex (BKC) in Mumbai, Kolkata and Chandigarh. Godrej Properties has about 3,00,000 sq ft of office space left in the BKC project and about 1 million sq ft of space in Kolkata and Chandigarh, which is worth about 15,000 crore. Further, the company is in the process of identifying projects for deployment of funds from its newly created Godrej Fund Management (GFM), which is a dedicated fund management subsidiary of Godrej Properties. Godrej Properties is developing residential, commercial and township projects spread over 115 million sq ft in 12 cities.
Image source: Godrej Properties