Indore Land Acquisition Godrej Properties (GPL) has acquired a 24-acre land parcel on the Indore bypass road to expand its residential plotted development portfolio. The new project will offer an estimated saleable area of 6.20 lakh square feet, catering to the rising demand for plotted residential developments in the region.
Gaurav Pandey, MD & CEO of Godrej Properties, highlighted the significance of the acquisition, stating: “With residential plotted developments gaining momentum, the Indore bypass road presents a promising opportunity for us to expand.”
Previous Indore Expansion In July 2024, Godrej Properties had already strengthened its presence in the region by acquiring a 46-acre land parcel on the Indore-Ujjain Road. This latest acquisition reinforces the company’s commitment to tapping into the growing real estate market in Indore.
Capital Strengthening Through QIP To support its expansion plans, Godrej Properties raised Rs 6,000 crore through a Qualified Institutional Placement (QIP) in December 2024. As a result of the QIP, the company’s net worth increased by over 50%, while the equity dilution stood at 7.68%. Post-QIP, the company’s gearing ratio has reduced to below 0.2:1, indicating a stronger balance sheet.
The QIP was managed by prominent financial institutions, including Jefferies, Morgan Stanley, Bank of America, and Kotak. This infusion of capital will enable Godrej Properties to pursue more land acquisitions and strengthen its portfolio in key markets.
Market Trends and Strategic Focus The company’s focus on plotted residential developments aligns with the growing demand for customizable housing options. Indore, with its rapidly expanding infrastructure and strategic location, is emerging as a key market for real estate developers. The bypass road, in particular, offers significant potential for residential projects, making it an attractive investment destination.
Godrej Properties’ ongoing expansion efforts reflect its strategic vision to capture emerging opportunities in the real estate sector, ensuring sustainable growth and value creation for its stakeholders.
