Godrej Properties Ltd., one of India’s leading real estate developers, has announced plans to raise ₹6,000 crore via a Qualified Institutional Placement (QIP) issue. This strategic initiative aims to accelerate business expansion amidst robust demand for residential plots and apartments across major markets.
QIP issue receives strong investor response
The company launched its QIP issue on Wednesday, which has garnered significant interest from both domestic and global institutional investors. According to market sources, Godrej Properties is likely to raise the full ₹6,000 crore, with the issue expected to close on Thursday.
In its regulatory filing, Godrej Properties disclosed that the QIP Placement Committee has approved a floor price of ₹2,727.44 per equity share. Notably, the company’s share price stood at ₹2,833.05 on Wednesday, marking a 2.35% drop from the previous day.
Boosting business expansion
The capital raised will support Godrej Properties’ ambitious growth plans, including the acquisition of new land parcels and the launch of residential projects in high-demand regions. The company recently entered the Hyderabad market, further strengthening its presence in cities like Delhi-NCR, Mumbai Metropolitan Region (MMR), Pune, and Bengaluru.
Godrej Properties’ strategy combines outright land purchases and joint development partnerships with landowners, enabling it to rapidly expand its portfolio. During the first half of the current fiscal year, the company acquired eight new land parcels, totaling an estimated saleable area of 11 million square feet with a potential booking value of ₹12,650 crore.
Record breaking sales performance
In FY24, the company achieved record sales bookings of ₹22,527 crore, an 84% year-on-year increase, making it the top performer among listed real estate firms. It has set an ambitious target of ₹27,000 crore in sales bookings for FY25.
The April-September period of FY25 has already seen sales bookings grow by 89% annually, reaching ₹13,800 crore—the highest-ever for the company during the first half of a fiscal year.
Strengthening financial foundations
Speaking about the QIP issue, the company emphasized its focus on leveraging strong market demand and expanding its housing business. With this fundraise, Godrej Properties aims to solidify its financial position while achieving long-term growth and delivering value to stakeholders.
