te Godrej Properties to redevelop housing project in Mumbai | Zee Business

Godrej Properties to redevelop housing project in Mumbai

Godrej Properties will be redeveloping a residential project at Wadala in Mumbai comprising 16 lakh square feet of saleable area.

Godrej Properties to redevelop housing project in Mumbai
Godrej Properties clocked sales bookings of a record Rs 6,725 crore in FY 21, which was the highest among all listed real estate entities. Source: PTI

Realty firm Godrej Properties on Wednesday said it has entered into an agreement to redevelop a residential project at Wadala in Mumbai comprising 16 lakh square feet of saleable area.

In a regulatory filing, the company informed that it has entered into an agreement to redevelop a land parcel in the upscale neighbourhood of Wadala.

See Zee Business Live TV Streaming Below:

TRENDING NOW

"Spread across 7.5 acres, this project will offer approximately approximately 1.6 million square feet (16 lakh square feet) of saleable area comprising primarily of residential apartments of various configurations," the filing said.

Mohit Malhotra, MD and CEO, Godrej Properties, said the addition of this project marks the company's entry into an important micro market within Mumbai.

This also fits within its current strategy of adding large projects across the country's leading real estate markets, he said.

During the last fiscal year 2020-21, Godrej Properties clocked sales bookings of a record Rs 6,725 crore, which was the highest among all listed real estate entities.

However, the company's sales bookings fell 68 per cent to Rs 497 crore during the April-June quarter of this fiscal from Rs 1,531 crore in the year-ago period.

Godrej Properties is the real estate arm of business conglomerate Godrej group.

Written By: PTI
Updated: Wed, Sep 29, 2021
05:09 pm
PTI
RELATED NEWS
Godrej Properties gains around 2% after its most successful project launch in terms of sales value Godrej Properties gains around 2% after its most successful project launch in terms of sales value
Godrej Properties net debt up 17% to Rs 6,174 crore in Jul-Sep mainly to fund land acquisitions Godrej Properties net debt up 17% to Rs 6,174 crore in Jul-Sep mainly to fund land acquisitions
Godrej Properties to meet Rs 14,000 crore sales bookings target for FY24: Pirojsha Godrej Godrej Properties to meet Rs 14,000 crore sales bookings target for FY24: Pirojsha Godrej
CIDCO cancels allotment of two plots in Navi Mumbai to Godrej Properties CIDCO cancels allotment of two plots in Navi Mumbai to Godrej Properties
Godrej Properties acquires 109-acre land in Nagpur for about Rs 200 crore to expand business Godrej Properties acquires 109-acre land in Nagpur for about Rs 200 crore to expand business

By accepting cookies, you agree to the storing of cookies on your device to enhance site navigation, analyze site usage, and assist in our marketing efforts.

x