Godrej Properties Plans ₹ 7,500 Cr Investment In Next 12-18 Months

Sitting on a huge cash pile, Godrej Properties plans to invest around ₹ 7,500 crore over the next 12-18 months on acquisition and development of new real estate projects. Godrej Executive Chairman Pirojsha Godrej said in an interview, "We will invest USD 1 billion (around ₹ 7,500 crore) over the next 12-18 months on development of new projects."

When asked about entering into new cities, Pirojsha said: "We are interested in Hyderabad. But it’s not our top priority. There are huge opportunities in top four key markets where we have a major presence."

The company intends to enter Hyderabad in a big way and not just for development of one or two projects, he said. On operational performance, Pirojsha said the company is likely to achieve all-time high sale bookings in the 2021-22 financial year, beating the last year's record of Rs 6,725 crore.

Mumbai-based Godrej Properties Ltd. which is part of business conglomerate Godrej Industries Ltd, plans to launch two housing projects in the national capital in the next 2-3 months.