Godrej Properties To Develop Haryana Township With Revenue Potential Of Rs 1,250 Crore

Godrej Properties Ltd. is set to make an entry in Haryana's Panipat with a residential project with an estimated revenue potential of over Rs 1,250 crore.

The Mumbai-based developer acquired 43 acres of land for a plotted development in Sector 40, Panipat, according to a company statement on Monday.

"The project fits well with our strategy of expanding into new markets for plotted development," said Chief Executive Officer and Managing Director Gaurav Pandey in a statement.

"Haryana has been a key market for us, and we look forward to developing a quality plotted township in Panipat that creates long-term value for its residents," he added.

The Panipat project will be the company's fourth residential township in North India. During the June quarter, the company launched Godrej Majesty in Noida and received regulatory approval for Godrej Alira in Gurugram.

The Godrej Group company is targeting a booking value of Rs 32,500 crore and collections worth Rs 21,000 crore in the current financial year.

“Our guidance for FY25 was about Rs 27,000 crore. We should have continued growth of about 20% over last year's guidance. We are looking at Rs 32,500 crore guidance," Pandey told NDTV Profit last month.

"This is a business where cash flow plays a huge role. Our endeavour in FY26 is to do about Rs 21,000 crore from a collection point of view. Both on sales and cash flows, we want to have a very strong trajectory," he added.

Earlier this month, the company sold homes worth over Rs 2,000 crore during the launch of the first phase of the project, Barca at Godrej MSR City in Bengaluru.

Shares of Godrej Properties closed 1.15% lower at Rs 2,363.45 apiece on the BSE on Friday, compared to a 0.36% advance in the benchmark Sensex. The stock has fallen 25% in the last 12 months and 15% so far this year.