Mumbai: Godrej Properties has reported a strong start in the Hyderabad housing market, selling homes worth over Rs 2,600 crore in its very first year of operations in the city. The company entered the Hyderabad market in January this year with the launch of its first residential project in Kokapet.
Speaking to PTI, Executive Chairperson Pirojsha Godrej said the response from buyers has been better than expected. The company launched its first project during the January–March quarter and followed it up with a second project in the July–September quarter. Together, these two projects helped the company achieve sales bookings of more than Rs 2,600 crore within a single calendar year.
Big Plans for Hyderabad Market
Pirojsha Godrej said Hyderabad offers huge growth opportunities, especially for premium and luxury housing. Encouraged by strong demand, the company now plans to expand its presence in the city. Godrej Properties is actively scouting for new land parcels to launch more residential projects and strengthen its footprint in the region.
Hyderabad has now joined the company’s key markets, which include the Mumbai Metropolitan Region, Delhi-NCR, Pune and Bengaluru. In all these cities, Godrej Properties focuses mainly on group housing projects catering to end-users.
New Land Acquisitions to Fuel Growth
As part of its expansion strategy, Godrej Properties recently won a bid to acquire a five-acre land parcel in Neopolis, Kokapet, through an e-auction conducted by the Hyderabad Metropolitan Development Authority. The company plans to develop a premium residential project on this land, with a saleable area of around 2.5 million square feet and an estimated revenue potential of about Rs 4,150 crore.
Earlier in August, the company also acquired a 7.825-acre land parcel in Kukatpally, Hyderabad, further strengthening its land bank in the city.
Strong Sales Momentum Nationwide
Across all markets, Godrej Properties reported a 13 per cent rise in sales bookings to Rs 15,587 crore in the first half of the current financial year. The company remains confident of meeting its full-year sales target of Rs 32,500 crore.
In FY25, Godrej Properties sold homes worth Rs 29,444 crore. With housing demand remaining strong across major cities, the company continues to launch new projects and acquire land.
This year, it aims to add Rs 30,000 crore of revenue potential through land purchases and joint development agreements, while also expanding into tier-II and tier-III cities with plotted housing projects.
