Godrej Properties web debt rises marginally to Rs 7,572 crore in Q2

Realty company Godrej Properties’ internet debt rose 2 per cent in the midst of the September quarter to Rs 7,572 crore with the company specializing in land acquisition for future progress.

Its internet debt stood at Rs 7,432 crore on the end of the June quarter, in accordance with an merchants’ presentation. Godrej Properties is among the many primary builders inside the nation. It has a critical presence in Delhi-NCR, Mumbai Metropolitan Space (MMR), Pune, and Bengaluru.

Godrej Properties plans to carry as a lot as Rs 6,000 crore by the use of the issue of securities. The board had remaining month accepted the proposal. The funds will be raised by the use of the issuance of securities, along with equity shares, debentures, want shares, and/or one other eligible securities.

The fundraising may probably be in a variety of tranches by the use of public and/or personal decisions, along with licensed institutions placement, rights problem, extra public present or one other mode as may be permitted under related authorized pointers.

Godrej Properties has been actively shopping for land and likewise partnering with land householders to create a pipeline for future development of duties. Over the previous fiscal 12 months, the company’s product sales bookings jumped 84 per cent to a report Rs 22,527 crore, the perfect amongst listed realty corporations in 2023-24.

It has set a aim of Rs 27,500 crore worth of product sales bookings for the current financial 12 months. Already, Godrej Properties’ product sales bookings have elevated 89 per cent to over Rs 13,800 crore in the midst of the April-September interval of this fiscal 12 months.