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Godrej Properties to shift its focus to project execution over new ventures for next two years

Priya Singh | 2024-04-02

The most important objective going forward will be to get all of the recently added projects launched in the upcoming quarter, the company management said.
Godrej Properties will spend the next two years focusing on executing the projects it already has instead of starting more and more new projects, company officials said in a post-earnings interaction with investors. They also said their focus will continue to remain on the residential market for the near term.

The most important objective going forward will be to get all of the recently added projects launched in the upcoming quarter, the company management said.

“We believe this will dramatically accelerate our bookings and earnings growth trajectory in the years ahead,” said the company.
Two years ago, it said, Godrej Properties was more focused on business development, but has now shifted its focus to the execution of projects and to ‘plug holes’ in its current portfolio.

“We now feel clearly for the next two, or three years, the kind of growth we want to do can happen entirely from projects already in our portfolio,” said the company.

It currently has nearly 27 projects and several big projects on its hands, including one in Sector 101 Gurgaon, the Raj Kapoor’s bungalow project in Chembur, Mahalunge, Ananda in Bangalore and a plotted development in Mumbai.
These projects which are in different stages of approval, according to the company, will see its completion before the end of FY 2024.

The company further said that it will focus on gaining market share and on outright ownership for high economic interest in projects.