Godrej Properties Reports Crossing ₹1,000 crore sales mark with Hyderabad’s Godrej Regal Pavilion launch
Godrej Properties Claims To Have Sold 683 Homes Worth Over Rs 1000 Crore in Hyderabad
Godrej Properties Ltd. announced on Monday that its newly launched residential project, Godrej Regal Pavilion, in Hyderabad has recorded sales worth over ₹1,000 crore at launch.
This marks the Mumbai-based developer’s second major launch in Hyderabad this year, with both projects achieving sales above the ₹1,000 crore benchmark during their opening phase.
The Regal Pavilion project, located in Rajendra Nagar, offers a developable potential of 4.14 million sq. ft., with an estimated revenue potential of ₹3,600 crore. The location provides connectivity to the Outer Ring Road and is close to Hyderabad International Airport, making it an attractive choice for homebuyers.
“This achievement highlights the growing demand for branded residential projects and underlines Hyderabad’s robust real estate growth story,” said Gaurav Pandey, MD & CEO of Godrej Properties.
In addition to this project, Godrej Properties recently emerged as the highest bidder for a 7.8-acre land parcel in Kukatpally, Hyderabad, at a combined bid value of ₹547.78 crore. The Kukatpally project carries an estimated revenue potential of ₹3,800 crore.
Meanwhile, on the financial front, the company reported a 15.4% year-on-year rise in net profit at ₹600 crore in the June quarter. However, revenue slipped 41% to ₹435 crore, and the company posted an EBITDA loss of ₹243 crore during the period. Other income stood at ₹1,186 crore, up from ₹960 crore a year ago.
On Monday morning, Godrej Properties shares were trading 1% higher at ₹2,073.5 apiece on the BSE, though the stock has declined over 25% year-to-date.
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