Godrej Properties Limited — Updates, 03-12-2024: Press Release

Godrej Properties Limited has successfully raised INR 6,000 crore through a Qualified Institutional Placement (QIP), marking the largest QIP by a real estate developer in India. The offering saw demand approximately four times the size, backed by a robust mix of prominent international and domestic investors, including GIC and Blackrock. This capital raise boosts the company's net worth by over 50%, with a resulting reduction in the net-debt-to-equity ratio to below 0.2:1 from 0.7:1 as of September 30, 2024.

The company achieved remarkable bookings growth, recording increases of 56% in FY23, 84% in FY24, and 90% in H1 FY25, well on track to exceed its booking guidance of INR 27,000 crore for FY24. This funding is expected to accelerate project development across seven cities and strengthen the business pipeline. Godrej Properties has established itself as the largest real estate developer in India by value of sales in FY25, positioning itself favorably for continued growth in the competitive landscape. Investors should watch closely as the company's expansion could provide substantial opportunities ahead.