Godrej Properties’ entire launch inventory at its Gurgaon project, amounting to 4 lakh sq ft, has been sold within three weeks of the initiation of the project. Though the stock rallied by eight per cent, the 200 apartments that were sold in a short span of time has underscored the immense opportunity that exists in real estate for the Godrej Group.
Huge potential
At a recent media interaction, Adi Godrej, Chairman of the Godrej Group, had enunciated the potential that existed in real estate. “It is the fastest growing business in our Group over the last five years.” He pointed out that the “requirement for residential housing in India is set to grow dramatically, as incomes rise and affordability improves. Godrej Properties will look through these many opportunities.”
Godrej Properties is the real estate development arm of the Godrej Group. The Gurgaon property, the company’s fifth residential project in the city, is spread over nine acres, and consists of nine towers including a 32-storey Iconic tower.
The project has been designed on the principle of sustainability, and is being developed as a joint venture with Oasis Build Home Pvt Ltd.
Green projects
In a bid to minimise the carbon emission associated with the development of each realty project, Godrej Properties uses eco-friendly materials and integrates environment sensitive passive architectural solutions, pointed out Anubhav Gupta, Executive Vice-President, Design Strategy, Godrej Properties.
Rainwater harvesting, solar heating and lighting are among the many features that are incorporated in the project design. At the Gurgaon site, more than 80 per cent of the project would be covered by landscaped gardens and open spaces.
At its township project, Godrej Infinity in Pune, green infrastructure has been assimilated in the schemethat aims to conserve the environment.
Sustainable township
Green infrastructure refers to infrastructure facilities that are environment-friendly and lead to sustainable development of cities, which can be achieved by deploying solutions that are energy efficient.
Godrej Infinity is a joint development project by Godrej Properties in partnership with Oxford Group and Ekta World.
The sustainable township will not only have landscapes that are firmly rooted in holistic design principles to develop a sense of community, Gupta pointed out it, but would also have solar panels, zero discharge and green roofs that have been incorporated into the design.
Similarly, with its new deal to develop a residential project at Whitefield in Bengaluru that would offer about 79,000 sq m of saleable area, green spaces, and at its residential project at Joka in South Kolkata, which aims to offer about 2.77 lakh sq m of saleable area, wide open vistas and modern amenities are set to go hand in hand.
ISO certified
Incidentally, Godrej Properties is the first company to be certified as ISO for their eco-friendly green building construction. The entire group embraces green practices.
Pirojsha Godrej, CEO, Godrej Properties, said the realty firm has been working to reduce debt, and is looking to sell ₹2,000 crore worth commercial assets over the next three years.
Godrej Properties is currently developing residential, commercial and township projects spread across 10.8 crore square feet in 12 cities.
Some 14 projects are to be launched this fiscal by Godrej Properties, which posted 20 per cent rise in consolidated net profit to ₹190.90 crore last fiscal against ₹ 159.43 crore in the previous financial year.
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