Godrej Properties Sales above Rs 1,000 crore in MMR, Bangalore, NCR,Pune

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Mumbai, May 11, 2020: Godrej Properties Limited (GPL), a leading national real estate developer, announced its financial results for the third quarter ended March 31, 2020.

CORPORATE HIGHLIGHTS:

Sales Highlights

Q4 FY20 witnessed a total booking value of INR 2,383 crore and total booking volume of 3.61 million sq. ft. as compared to total booking value of INR 2,161 crore and total booking volume of 3.72 million sq. ft. in Q4 FY19.
FY20 witnessed a total booking value of INR 5,915 crore and total booking volume of 8.80 million sq. ft. as compared to total booking value of INR 5,316 crore and total booking volume of 8.76 million sq. ft. in FY19.

Business Development

Added 5 new projects with saleable area of ~6.1 million sq. ft. in Q4 FY20

Delhi, NCR

Acquired this property in Ashok Vihar from the Railway Land Development Authority (RLDA)
The project will be developed as a luxury group housing project with approximately 3.3 million sq. ft. of saleable area
It is a 100% owned project

Chandivali, MMR

Acquired land in the upcoming & fast developing micro-market of Chandivali located in close proximity to the bustling suburb of Powai
The project will offer 0.5 million sq. ft. of saleable area comprising primarily of residential apartments with a small amount of retail space
It is a 100% owned project

Faridabad, NCR

This is GPL’s first project in Faridabad and also its first plotted development project within NCR
The project will offer approximately 1.0 million sq. ft. of saleable area
It is a 100% owned project

Worli, MMR

GPL will jointly develop a land parcel in the upscale neighborhood of Worli
The project will offer approximately 1.2 million sq. ft. of saleable area as part of a redevelopment project
GPL’s economic interest is 50% of profit

Matunga, MMR

The land parcel is located in the prime micro-market of Matunga near Five Gardens and the project will offer 0.2 million sq. ft. of saleable area comprising primarily of residential apartments of various configurations
GPL’s economic interest is 89% of revenue

Project Update under Commercial Platform

Hebbal, Bangalore

GPL has bought a 20% stake in a company to develop a commercial project with Godrej Fund Management under its commercial platform
The project offers 0.67 million sq. ft. of leasable area
GPL’s economic interest is 20% equity in project specific company

Other Highlights

Delivered ~1.9 million sq. ft. across 4 cities in Q4 FY20
GPL received 6 awards in Q4 FY20 and a total of 57 awards in FY20

Commenting on the performance of Q4 FY2020, Mr. Pirojsha Godrej, Executive Chairman, Godrej Properties Limited, said, “Our focus at the moment is on ensuring the health and safety of our workforce and doing everything we can to assist the government’s response to this crisis. While the real estate sector is likely to be significantly impacted for the next few months, we believe there will be continued opportunities for credible developers with strong brands as the process of consolidation that has been underway in the sector gathers pace. In Q4, Godrej Properties posted its best ever quarterly performance in terms of the value of real estate sold. While the start of FY21 may be muted, our strong project pipeline and healthy balance sheet will help maintain sales momentum in FY21.”

Q4 FY20 performance overview compared with Q4 FY19