Godrej Properties has increased its QIP size from the earlier announced Rs 4,000 crore to Rs 6,000 crore that would help the company fund growth plans. The QIP issue opened on November 27, 2024, according to a regulatory filing.
The board of the company had already approved the fund raise of up to Rs 6,000 crore last month. Its shares traded at Rs 2,839.65 on the NSE, marginally up 0.20% on November 28.
The popular real estate developer Godrej Properties has huge exposure to bigger markets including Delhi-NCR, Mumbai, Pune, and Bengaluru, and was recently introduced to Hyderabad.
Financial Performance
- In FY23-24, the company reported sales bookings of Rs 22,527 crore, the highest among listed real estate firms, marking an 84% growth year-on-year.
- For the current fiscal year, Godrej Properties targets Rs 27,000 crore in sales bookings, having already achieved over Rs 13,800 crore in the first half, an 89% YoY growth.
This capital infusion is expected to support the company’s ambitious expansion and strengthen its market position.
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Source: Moneycontrol
News Desk
