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Godrej Enterprises Group looks to double the turnover of its Process Equipment business in the next 4 to 5 years, helped by the green energy transition happening across the globe, an official said. Moreover, the company which operates in the sectors such as oil, gas and chemicals is investing Rs 200 crore in the second phase of its Dahej Plant to expand the annual manufacturing capacity to approximately 30,000 MT from the existing 23,000 MT. However, the Process Equipment division is simultaneously scaling down its operation at the Vikhroli plant in Mumbai due to logistical challenges, limiting it to domestic markets largely, its Executive Vice President & Business Head Hussain Shariyarr said. The fresh investment is in addition to Rs 300 crore invested by the Godrej Enterprises Group in the first phase of its production facility at Dahej. The Process Equipment (PE) manufacturing division business, which produces reactors, pressure vessels, columns, heat exchangers etc has a ...
Godrej Properties Ltd has reduced its net debt by 49 per cent to Rs 3,848 crore during the latest quarter ended December on the back of strong internal cash flow and equity fund raising. Its net debt stood at Rs 7,572 crore as on September 30, 2024, according to the company's latest investors presentation. Pirojsha Godrej, Executive Chairperson of Godrej Properties, said, "We raised Rs 6,000 crore during the third quarter through Qualified Institutional Placement (QIP) route for growth capital". The company's net debt-to-equity ratio has come down to 0.23, he added. Pirojsha said the company would be utilizing this fund to acquire land across major cities to expand its business. As per the presentation, Godrej Properties' collections of funds from customers against pre-sales rose 27 per cent to Rs 3,069 crore during the third quarter of the 2024-25 fiscal, thereby improving the company's internal cash flow situation. Godrej Properties is one of the leading real estate developers
Godrej Enterprises Group on Monday said it will invest over Rs 1,200 crore over the next three to five years in new digital solutions and technology platforms. The group, which comprises Godrej & Boyce and its affiliates, and has a presence across multiple industries spanning aerospace and aviation to defence, furniture and IT software, said the investments will include strategic digital platforms, AI, and generative AI technologies across business units. "With a consumer base of over 1.1 billion, we are committed to redefining how customers interact with us. Our vision is to create a customer-first ecosystem that offers a unified experience that helps foster deeper relationships with our stakeholders," Godrej Enterprises Group (GEG) Executive Director, Nyrika Holkar said. She further said, "With cutting-edge digital and AI tools, extensive skills training, and unwavering commitment to transformation, we want to shape the future of customer experience." To achieve a seamless ...
Real estate company Godrej Properties Ltd on Friday said it has acquired 24-acre land in Indore to develop residential plots and expects around Rs 500 crore revenue from this upcoming project. In a regulatory filing, Godrej Properties informed it has acquired about 24-acre of land in Indore. The company did not divulge the total cost of the land parcel. "The project will have an estimated revenue potential of around Rs 500 crore," Godrej Properties said The development on this land will primarily comprise premium plotted residential units and will offer an estimated saleable area of around 6.20 lakh square feet. After acquiring 46-acre in July 2024 on Indore-Ujjain Road, this will be the company's second acquisition in Indore. Gaurav Pandey, MD & CEO, Godrej Properties, said the company has expanded its presence in Indore with this land acquisition. "With residential plotted developments gaining momentum, the Indore bypass road presents a promising opportunity for us to expand.
Realty firm Godrej Properties Ltd has raised Rs 6,000 crore by selling shares to institutional investors, including Singapore sovereign wealth firm GIC and SBI Pension, through qualified institutional placement (QIP) route as it looks to expand business amid strong demand for residential plots and apartments. On November 27th, the company launched its QIP issue to raise up to Rs 6,000 crore. The company has raised this amount by diluting nearly 8 per cent of equity through the QIP issue, which was closed on Monday. The QIP Placement Committee of the board approved the issue price of Rs 2,595 per equity share, which is at a discount of Rs 132.44 (4.86 per cent of the floor price) to the floor price of Rs 2,727.44 per equity share. It also approved the allocation of 2,31,21,387 equity shares to be allotted to eligible qualified institutional buyers. In a regulatory filing on Tuesday, Godrej Properties informed that the QIP issue saw a strong demand of around 4 times the size of the ..
Godrej Properties will raise Rs 6,000 crore by selling equity shares to institutional investors through QIP issue as it looks to expand business amid strong demand for residential plots and apartments. On Wednesday, the company has launched its Qualified Institutional Placement (QIP) issue to raise up to Rs 6,000 crore. According to market sources, Godrej Properties has received a strong response from domestic and global investors and the company will raise the entire Rs 6,000 crore. The QIP issue is likely to be closed on Thursday. Last month, the company's board approved raising of up to Rs 6,000 crore through the issue of securities. In a regulatory filing on Wednesday, Godrej Properties informed that the QIP Placement Committee approved the floor price for the QIP issue at Rs 2,727.44 per equity share. Godrej Properties' share price closed at Rs 2,833.05 apiece on Wednesday, down 2.35 per cent from Tuesday. Godrej Properties is one of the leading developers in the country.
Godrej Properties on Wednesday launched its qualified institutional placement (QIP) to sell equity shares to investors for raising up to Rs 6,000 crore to fund its growth plan. Last month, the company's board approved raising of up to Rs 6,000 crore through the issue of securities. In a regulatory filing, Godrej Properties informed that the QIP Placement Committee authorized the opening of the issue on November 27, 2024. The panel also approved the floor price for the QIP issue, being Rs 2,727.44 per equity share. Godrej Properties' share price closed at Rs 2,833.05 apiece on Wednesday, down 2.35 per cent from Tuesday. The company is one of the leading developers in the country. It has a major presence in Delhi-NCR, Mumbai Metropolitan Region (MMR), Pune and Bengaluru. It has entered into Hyderabad market recently. In the last fiscal, the company's sales booking jumped 84 per cent to a record Rs 22,527 crore, the highest among listed realty firms in 2023-24. Godrej Properties ha
Godrej Industries will acquire the food additives and emulsifier business of Savannah Surfactants Limited for Rs 76 crore. In a regulatory filing on Tuesday, Godrej Industries said that the company has signed a 'Business Transfer Agreement' with Savannah Surfactants Limited (Goa) with the intention to acquire their food additives and emulsifier business. The deal value is estimated at around Rs 76 crore. "As a leading player in oleochemicals, surfactants, specialities and biotech, this transaction will help the company expand its product offerings to the Food & Beverages segment," the company said. Located in Goa, Savannah Surfactants Ltd has a manufacturing capacity of 5,200 tonnes per annum of finished products. Vishal Sharma, Executive Director and Chief Executive Officer of Godrej Industries (Chemicals), said, "In line with our strategy, the acquisition of this unit in the food ester and emulsifier business will help us to grow our speciality chemicals business. This ...
Realty firm Godrej Properties has won a bid to acquire 7.5-acre land in Gurugram to develop a luxury housing project with a revenue potential of more than Rs 5,500 crore. In a regulatory filing on Friday, Godrej Properties said it has emerged as the "highest bidder for a luxury group housing plot on Golf Course Road in Gurugram with a revenue potential in excess of Rs 5,500 crore." The company has secured the Letter of Intent to develop a group housing plot at Golf Course Road through an e-auction conducted by the Haryana Shehri Vikas Pradhikaran (HSVP). The plot, measuring 7.5-acre, has a development potential of over 1.7 million square feet, comprising luxury residential apartments of varied configurations. Godrej Properties has acquired 11 new land parcels so far this fiscal. These projects are estimated to generate a total revenue of Rs 22,950 crore. The company had given guidance that it would add various land parcels this fiscal, with a total revenue potential of Rs 20,000
Realty firm Godrej Properties acquired six new land parcels in the July-September quarter to develop housing projects worth Rs 9,650 crore as part of its expansion plan amid strong demand. Godrej Properties is one of the leading real estate developers in the country. It has a significant presence in Delhi-NCR, Mumbai Metropolitan Region (MMR), Pune and Bengaluru. To expand the housing business, Godrej Properties acquires land through outright purchases as well as forming partnerships with landowners for joint development. In its latest operational updates for the July-September quarter, Godrej Properties said it has added 8 new land parcels in the first six months of this fiscal with a total estimated saleable area of about 11 million square feet and total estimated booking value potential of around Rs 12,650 crore. This included the addition of 6 new land parcels in the second quarter of this fiscal with an expected booking value of Rs 9,650 crore. Godrej Properties said it has .
Realty firm Godrej Properties on Thursday said its board will meet on October 1 to consider a proposal to raise funds through the issue of securities. The company did not disclose the amount it wants to raise. In a regulatory filing, Godrej Properties informed that a meeting of the board of directors is scheduled to be held on October 1 to discuss and consider the proposal to raise funds by way of the issue of equity shares, or any other eligible securities and/or instruments. The issue of securities could be through public and/or private offerings, including qualified institution placements, preferential issues, rights issues, further public offers or any other permissible method. Godrej Properties is one of the leading developers in the country. It has a major presence in Delhi-NCR, Mumbai Metropolitan Region (MMR), Pune and Bengaluru. It has entered into Hyderabad market recently. In the last fiscal, the company's sales bookings jumped 84 per cent to a record Rs 22,527 crore, t
Realty firm Godrej Properties has won bid for two residential plots in Gurugram costing Rs 515 crore and will develop luxury homes worth Rs 3,400 crore on these land parcels. In a regulatory filing on Monday, Godrej Properties informed that it has "emerged as the highest bidder and has secured the Letter of Intent to develop two group housing plots at premium locations in Gurugram through an e-auction conducted by the Haryana Shehri Vikas Pradhikaran (HSVP)". The combined bid value for both plots is Rs 515 crore, it added. The plot measuring 3.6 acres is located in the prestigious Golf Course Road micro-market whereas the plot measuring 1.97 acres is strategically located in Sector 39 with proximity to NH 48. "The land parcels together will offer a development potential of over 1 million square feet and an estimated revenue potential of over Rs 3,400 crore comprising luxury residential apartments of varied configurations," Godrej Properties said. In the last fiscal, Godrej Propert