New Delhi: Godrej Properties is coming up with new projects in Mumbai and hopes the financial capital of the country will be its biggest market soon while the other three cities where it plans to focus in near future are Delhi NCR, Pune, Bengaluru.
Company’s Executive Chairman Pirojsha Godrej said that the realty firm is not entirely satisfied with its progress in Mumbai but with a number of launches In the current financial year in the city, it will be the biggest market for the developer.
“I think overall, internally, we are a bit dissatisfied with the progress we’ve made in Mumbai. I think we could have done more and could have done it faster… we continue to remain very focused on these 4 cities… a city like Mumbai, which has historically been the largest real estate market in the country and is, of course, our home market Is a very important area of focus, and we’ll probably, with the combination of Vikhroli plus all the other opportunities we have in Mumbai be the company’s biggest market going forward,” said Godrej in reply to an investor query recently.
The company coming up with a 7 lakh square feet project in mixed use project Vikhroli. It has also launched Godrej nest project in October 2019 which is giving good sales numbers to the company.
Apart from these, the company has formed a joint venture in the third quarter of current fiscal for township project in Navi Mumbai which will have a 7.5 million square feet of saleable area. It has formed a joint venture for a housing project in Ambernath (Mumbai) with a total saleable area of 1.1 million square feet and another housing project in Thane (Mumbai) with a total saleable area of another 1.1 million square feet.
The company forayed in Delhi NCR market few years back and has a number of housing projects in Delhi’s satellite town Noida and one in South Delhi.
Godrej Properties has commercial projects in Kolkata and Chandigarh and a housing project in Ahmedabad but bulk of its operations are in Mumbai, Delhi NCR, Pune and Bengaluru.