Godrej Properties, a prominent real estate developer in India and part of the esteemed Godrej Industries group, has been making significant strides in expanding its business operations. In the last financial year, the company embarked on an ambitious acquisition spree, procuring 10 land parcels, eight of which were outright purchases. These acquisitions are intended to fuel housing projects worth over Rs 21,000 crore, signaling the company's commitment to substantial growth.

The company's recent investor presentation shed light on its strategic vision, revealing plans to develop 10 new projects with an anticipated future booking value exceeding Rs 21,000 crore. This demonstrates a proactive approach to capitalizing on emerging opportunities within the real estate market. Additionally, Godrej Properties has set a formidable target for the current fiscal year, aiming to acquire more land parcels that could generate sales bookings totaling Rs 20,000 crore.

Executive Chairperson Pirojsha Godrej emphasized the company's flexibility in pursuing lucrative opportunities, stating that the Rs 20,000 crore target is not a rigid upper limit. Drawing on past performance, wherein the company surpassed initial guidance significantly, Godrej highlighted the potential for even greater achievements if favorable opportunities arise.

Geographically, Godrej Properties maintains a strong presence in key markets such as the Mumbai Metropolitan Region (MMR), Delhi-NCR, Pune, and Bengaluru. Recently, the company expanded its footprint by venturing into the Hyderabad property market, demonstrating its commitment to strategic expansion.

The breakdown of the acquired land parcels reveals a diversified portfolio, with significant holdings in Delhi-NCR, Bengaluru, Hyderabad, and other emerging markets like Kolkata and Nagpur. These acquisitions are poised to bolster the company's project pipeline, with a total saleable area estimated at nearly 19 million square feet.

In terms of upcoming projects, Godrej Properties has outlined ambitious plans to launch residential developments worth Rs 30,000 crore across major cities. This aggressive strategy aims to achieve a 20% growth in sales bookings, building upon the impressive performance witnessed in the previous fiscal year.

Speaking of financial performance, Godrej Properties reported stellar results, with sales bookings surging to a record Rs 22,527 crore in FY24, marking an 84% increase from the preceding year. This remarkable achievement solidifies the company's position as a market leader in the real estate sector.

The company's profitability also witnessed substantial growth, with quarterly profits reaching an all-time high of Rs 471.26 crore in the March quarter. On an annual basis, net profit surged to Rs 725.27 crore in FY24, reflecting a robust financial performance driven by strategic initiatives and market demand.

Total income for the fiscal year rose to Rs 4,334.22 crore, underscoring the company's ability to capitalize on growth opportunities and deliver value to shareholders. Looking ahead, Godrej Properties is committed to further expanding its operational capacity, with plans to scale up project deliveries to 15 million square feet in the upcoming fiscal year.