Godrej Properties,reported, thay the company in its very first year of operations in Hyderabad, has recorded housing sales worth more than ₹2,600 crore. With this significant entry into one of the fastest-growing residential markets in India, the company is now planning to considerably increase its presence in the capital city of Telangana.
As the response was extremely strong, the company is now looking to increase their footprint in Hyderabad substantially. The Mumbai-based leading real estate company has started its first residential project in Kokapet in the Hyderabad market early this year and has already announced its second project. In total, these projects have led to sales exceeding the set targets, which is a clear sign of a strong demand for quality housing in the city.
“We launched our first project in Hyderabad during January–March quarter. We launched our second project in July–September quarter. Between these two projects, we have achieved sales bookings of more than ₹2,600 crore in our first calendar year of operation in the city.” said Pirojsha Godrej, Executive Chairperson, Godrej Properties, in an interview with PTI.
Godrej Properties sees Hyderabad as a growth source that will keep on giving due to factors like the creation of new jobs, good infrastructure, and the constant need for first-class residential developments. The company's first two projects, which focused on the luxury segment, have already been well received amid the increasing trend of buyers opting for well-planned and branded housing.
"The Hyderabad market has a 'huge growth potential'…the company would like to expand business in this city to tap strong demand for premium and luxury residential properties,"said Pirojsha Godrej. “ The firm is currently in search of new lands in various important micro-markets of the city.
Not long ago, Godrej Properties was the top bidder in an electronic auction held by the Hyderabad Metropolitan Development Authority (HMDA) for the acquisition of a five-acre plot of land in Neopolis, Kokapet - a residential area attracting the highest inflow of people in the city.
The housing project planned for this location will roughly cover a saleable area of 25 lakh square feet, with a possible revenue generation of ₹4,150 crores.
Earlier in the year, the company also bought a 7.825-acre plot in Kukatpally to complement its land bank in Hyderabad.
In all major markets combined, Godrej Properties has achieved a 13% year-on-year growth in sales bookings culminating in ₹15,587 crores in the first half of the ongoing financial year. This leads to an improvement from ₹13,835 crore during the same period last year.
The company still holds to the belief that it will be able to attain its sales booking target for the whole year, which is set at ₹32,500 crores. Last financial year (2024–25), Godrej Properties had registered total sales of ₹29,444 crores, which were mainly fueled by the strong demand for housing in large urban centers.
Besides that of major metros like Mumbai, Delhi-NCR, Pune, Bengaluru, and Hyderabad where Godrej Properties is intensifying its presence, the company is also venturing into tier-II and tier-III cities, particularly in the plotted development sector.
The company has set a target of adding land that would create a potential for revenue of ₹30,000 crores during the current financial year. These plans involve outright purchases as well as Joint Development Agreements (JDAs) with the owners of the land.
Godrej Properties, with Hyderabad being a definite growth point on its map, seems to be ready to broaden his imprint in the city, counting on the uninterrupted need and urban sprawl to be the main drivers of the following stage of his development.
Image source- godrejproperties
.png)