Godrej

Godrej Properties raises Rs 6,000 cr via QIP for 'future development'

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 to raise Rs 6,000 crore via QIP for business expansion

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 launches Rs 6,000 crore QIP to fund growth plans

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 to buy Savannah Surfactants' food unit for Rs 76 crore

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 ...

Godrej Properties buys 7.5-acre land in Gurugram for housing project

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

Godrej Properties acquires land in Ahmedabad for residential project

Project's estimated booking value is about Rs 1,300 crore

Godrej acquires 6 land parcels to develop Rs 9,650 cr housing projects

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 .

Godrej Appliances expects its revenue to cross Rs 10,000 cr mark by FY26

The company has set a roadmap to enter the top three in terms of market share in key categories like air conditioners, refrigerators, and washing machines

Godrej Properties to consider raising funds via securities in Oct 1 meet

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

Eyeing entry into affordable housing loans: Godrej Capital MD & CEO

Shah discussed NBFCs' recent plans for affordable housing and initial public offerings

Godrej Properties wins bid for 2 plots in Gurugram, eyes Rs 3400 cr revenue

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

Godrej Industries plans to raise up to Rs 3,000 cr, seeks shareholders' nod

Godrej Industries Ltd plans to raise up to Rs 3,000 crore through issuance of debt instruments and will seek approval from shareholders through a special resolution, according to a regulatory filing. The board of directors, at its meeting held on August 7, 2024, had proposed to seek an approval from the members to raise or borrow funds by way of issuance of unsecured non-convertible debentures (NCDs), bonds or other instruments, listed or unlisted, on private placement basis for an amount not exceeding Rs 3,000 crore, Godrej Industries said in a postal ballot notice shared on the BSE. The fund is proposed to be raised within one year from the date of passing of the special resolution at an interest rate that will be determined by the prevailing money market conditions at the time of the borrowing, it added. The issue of these securities like NCDs, bonds or other instruments work as a cost-effective source of borrowing, it added. On the purpose of the fund raise, the company said it

Godrej Consumer Products Q1FY25 results: Net profit rises 41% to Rs 451 cr

Branded consumer goods makers have reduced prices to compete with smaller rivals that offer cheaper alternatives, which has negatively impacted top-line growth

Godrej Storage Solutions to invest Rs 400 cr in new unit near Chennai

GSS said it has made significant investments to expand capacity and build capability to serve its customers

RKN Enterprises sold 1.11% stake in GCPL to other Godrej family members

On May 2 this year, the Godrej family had announced an amicable settlement under which the Adi-Nadir and Jamshyd-Smita families bought each other's stakes for zero consideration in each other's cos

Godrej Consumer Products develops indigenous mosquito repellent molecule

GCPL holds exclusive rights to use Renofluthrin in its products for six to eight years

Adi-Nadir family to buy 12.65% stake in Godrej Ind from RKN Enterprises

RKN Enterprises is owned by Rishad Naroaji, a cousin of Adi Godrej, and his 12.65 per cent stake is worth Rs 3,858 crore as of Tuesday

Godrej Properties buys land in Bengaluru for high-end residential project

Realty firm Godrej Properties on Monday said it has acquired a 7-acre land in Bengaluru to develop a luxury housing project with an estimated revenue of Rs 1,200 crore. In a regulatory filing, the company informed about the acquisition of around 7 acres of land in Thanisandra, North Bengaluru on an outright basis. The development on this land will comprise a high-end residential project featuring premium residential apartments of various configurations. The proposed project is estimated to have a developable potential of about 9 lakh square feet with a revenue potential of around Rs 1,200 crore, the company said. Gaurav Pandey, MD & CEO, Godrej Properties, said, the availability of land parcels and infrastructure development has turned Bengaluru into a mature real estate market with increased demand for residential development. "North Bengaluru is an important market for us, and we are happy to add this land parcel to our portfolio. This will further strengthen our presence in ...

Godrej Properties on solid growth foundation amid strong pre-sales

Pune, Bengaluru and Hyderabad will drive growth in the near term in contrast to the prior two years when it was NCR and MMR

Godrej Appliances expects to join billion-dollar club on 30% topline growth

Home-grown firm Godrej Appliances expects to become a billion-dollar company by the end of this fiscal, led by a 30 per cent growth in topline, a senior company executive said. The company is "very optimistic" about the short-term and mid-term outlook of the domestic market, during which it will launch new products and has plans to launch around 50 new models across categories in FY25, its Business Head & Executive Vice President Kamal Nandi told PTI. Godrej Appliances, a unit of Godrej & Boyce, recorded 60 per cent overall growth in the first quarter, led by an unprecedented demand for air-conditioners. "We have registered over 60 per cent growth in Q1 and expect to close the quarter at 50-60 per cent growth. While demand is slower in the south and west, north and east are improving. Overall, we expect to close the quarter with over 50 per cent growth," Nandi said. In categories such as air-conditioner, Godrej Appliances recorded over 100 per cent growth in sales, as some ...