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Godrej Properties adds five projects in Q4/FY20

FY20 witnessed a total booking value of Rs 5,915 crore

Godrej Properties, Real estate company, Ashok Vihar in Delhi, NCR, Railway Land Development Authority, Luxury housing project, Chandivali, Powai, Mumbai, Faridabad, Worli, Mumbai Metropolitan Region, Redevelopment project, Matunga, Five Gardens, Godrej Fund Management, Hebbal, Bengaluru, Karnataka

Godrej Properties (GPL) witnessed a total booking value of Rs 2,383 crore and total booking volume of 3.61 million sq-ft in Q4/FY20 as compared to total booking value of Rs 2,161 crore and total booking volume of 3.72 million sq-ft in Q4/FY19.

In all, FY20 witnessed a total booking value of Rs 5,915 crore and total booking volume of 8.80 million sq-ft as against a total booking value of Rs 5,316 crore and total booking volume of 8.76 million sq-ft in FY19.

The real estate company added five new projects with saleable area of approximately 6.1 million sq-ft in Q4/FY20.

The company acquired property in Ashok Vihar in Delhi, NCR from the Railway Land Development Authority (RLDA). The 100% owned project will be developed as a luxury group housing project with around 3.3 million sq-ft of saleable area.

The company also acquired land in micro-market of Chandivali located in close proximity to the suburb of Powai in Mumbai. The 100% owned project will offer 0.5 million sq-ft of saleable area comprising primarily of residential apartments with a small amount of retail space.

GPL’s is also developing its first project in Faridabad and its first plotted development project within NCR. The project will offer approximately 1.0 million sq-ft of saleable area.

The company will jointly develop a land parcel in Worli, Mumbai Metropolitan Region. The company’s economic interest is 50% of profit in the project. The project will offer approximately 1.2 million sq-ft of saleable area as part of a redevelopment project.

GPL is also developing a land parcel located in Matunga near Five Gardens. The project will offer 0.2 million sq-ft of saleable area comprising primarily of residential apartments of various configurations. The economic interest of the company in the project is 89% of revenue.

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

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