Godrej Properties Ltd on Thursday announced that it has sold inventory worth over Rs 1,000 crore in its project, Godrej Evergreen Square, located in Hinjewadi, Pune. The project was launched in November 2024 and within four months of acquiring the land, it has become the company’s most successful launch ever in Pune in terms of the value and volume of sales achieved.
Godrej Evergreen Square has the potential for a development of around 2.41 million square feet with an estimated revenue potential of approximately Rs 2045 crore.
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Hinjewadi, the company said, is an established residential location in Pune that provides access to well-developed social and civic infrastructure with multiple schools, health facilities, retail malls, and entertainment outlets. The area provides good connectivity to the Mumbai-Bangalore Highway, Mumbai-Pune Expressway, Metro & other major parts of the city. Further, the introduction of a metro line connecting Hinjewadi to Shivaji Nagar, with a metro station just 2 minutes away from the project, will enhance the area’s connectivity.
Gaurav Pandey, MD & CEO, Godrej Properties, said, “We are delighted with the response to our project, Godrej Evergreen Square. This has now become the best-ever launch in Pune residential real estate. We’d like to take this opportunity to sincerely thank our customers and all stakeholders for their trust and confidence in Godrej Properties. We will do our best to ensure Godrej Evergreen Square offers its residents an outstanding living experience.”
Earlier this month, Godrej Properties had released its fiscal third quarter earnings report with profit at Rs 162.64 crore, up 161.19 per cent YoY. It had reported revenue from operations for the quarter in review at Rs 968.88 crore, up 193.21 per cent on-year. The company had stated that the calendar year 2024 saw its highest ever bookings, collections, operating cash flow, earnings, and deliveries.
Total booking value in Q3FY25 stood at Rs 5,446 crore from the sale of 4.07 million sqft of area, down 5 per centYoY and posting a growth of 5 per cent quarter-on-quarter.
Shares of Godrej Properties were down 0.06 per cent at 9:30 am at a trading price of Rs 1,985.00.
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