Godrej Properties: Integrating Heritage
Since 1985, Godrej Properties (GPL) has been a prominent player in Indian real estate, with 102 ongoing and upcoming projects covering 223 million square feet
In 2010, Godrej Properties made a remarkable leap into the public sphere by successfully launching an Initial Public Offering (IPO) that raised an impressive $100 million. This strategic move not only signified a milestone in its growth journey but also marked its transition into a publicly listed entity. Today, GPL proudly graces the listings of both the National Stock Exchange of India and the Bombay Stock Exchange. As of March 31, 2024, the market capitalisation of GPL stood at Rs 63,949.54 crore, reflecting its robust standing in the industry.
GPL says it takes great pride in being one of the select few developers in India, distinguished by its substantial presence across all major real estate markets throughout the country. GPL's commitment to excellence and innovation has positioned it as a key player in shaping the urban landscape of India, consistently delivering high-quality projects that resonate with the aspirations of homebuyers and investors alike. With an unwavering focus on quality and customer satisfaction, Godrej Properties continues to elevate the standard of living, transforming dreams into tangible realities for countless individuals and families across India.
GPL states that 67 per cent, or 13.32 million square feet (msf), of its most recent development format provides homebuyers with the opportunity to own land and build homes while being connected to state-of-the-art infrastructure. The plotted developments of GPL are planned and delivered to detailed specifications including a well-planned street network with provision for service lines (water, sewage, electricity, broadband) sewage treatment plant, rainwater harvesting, etc.
In FY24, Godrej Properties achieved record sales, selling 20 msf with a booking value of Rs 22,527 crore, marking a 84 per cent year-over-year growth. The booking value was driven by four large projects i.e. Godrej Zenith, Gurugram; Godrej Reserve, Mumbai; Godrej Aristocrat, Gurugram; and Godrej Tropical Isle, Noida, with each achieving a booking value of more than Rs 2,000 crore, and totalling Rs 10,676 crore overall.
Sustainability Level
Since 2013, GPL has been at the forefront of sustainability, diligently reporting its Environmental, Social, and Governance (ESG) performance to the Global Real Estate Sustainability Benchmark (GRESB). In a remarkable testament to its unwavering commitment to sustainable development, GPL earned a 5-star rating in the 2023 GRESB Benchmark Development. This accolade underscores the company’s dedication and reflects its relentless pursuit of excellence in alignment with global sustainability goals, particularly the ambitious objective of achieving net zero emissions by 2050.
GRESB, a respected industry-led organisation, plays a pivotal role in transparently providing actionable ESG data to financial markets. It independently collects, validates, scores, and benchmarks ESG information, offering invaluable business intelligence, engagement tools, and regulatory reporting solutions for investors, asset managers, and the broader industry. Established in 2009, GRESB boasts an impressive membership of 170 institutional investors and over 2,200 fund managers, companies, and asset operators, reinforcing its status as a leading authority in sustainability.
For GPL, GRESB’s peer benchmarking has proven to be an effective tool in the ongoing journey to assess and address any gaps in ESG practices. The company’s inclusion in the Sustainability Yearbook 2024 alongside a distinguished cohort of 759 companies out of 9,400 evaluated, serves as a shining testament to its steadfast dedication and substantial influence in advancing sustainability across multiple facets. This recognition motivates GPL to impact society and environment positively.
