Godrej Properties launches premium residential project in Hyderabad with Rs Rs 1,300 crore revenue potential

The project is spread across a 3-acre land parcel and has approximately 1.2 million square feet of saleable area. It hosts premium residential apartments in 3 & 4 BHK configurations and the projects total estimated booking value is Rs 1,300 crore.

The company's cumulative booking value potential in Hyderabad stands at Rs 4,800 crore.

Hyderabad's residential market has been gaining momentum and witnessing an increase in demand for high-quality homes, driven by a strong IT ecosystem and robust infrastructure development.

Kokapet, known for its proximity to the Outer Ring Road, is a preferred destination for premium residential and commercial developments and has been at the forefront of this growth.

Gaurav Pandey, MD & CEO, Godrej Properties, said: 'We are excited to launch our first project in Hyderabad, representing a significant step in our growth journey.

Kokapet's strategic location and infrastructure advantages make it an ideal destination for premium residential developments. Godrej Madison Avenue aligns with our vision of creating sustainable, high-quality homes that cater to the aspirations of discerning buyers seeking thoughtfully designed living spaces.'

Godrej Properties is the real estate arm of the Godrej Group. It is a subsidiary of Godrej Industries, which holds 58.48% of the company's equity shares as of 30 September 2024. The company currently operates in various cities and focuses on residential, commercial, and township development.

The company's consolidated net profit soared to Rs 335.21 crore in Q2 FY25 as against Rs 66.80 crore posted in Q2 FY24. Revenue from operations zoomed to Rs 1,093.23 crore in the quarter ended 30 September 2024 as compared to Rs 343 crore reported in the corresponding quarter previous year.

The scrip declined 2.93% to currently trade at Rs 2315.95 on the BSE.