Godrej Properties to Tap Into Tier II Cities, Deliver 15 Million sq ft in FY25: CEO
According to Pramod Bisht, CEO (South) of Godrej Properties, the listed real estate developer intends to strategically expand into Tier II cities in southern India, particularly for plotted buildings. “We are very actively looking for plotted development, not just in Bengaluru but also in the Tier 2 towns in southern India like Mysuru, Mangaluru, and Hosur,” he stated.
In response to a question on the extent of growth into Tier II cities, Bisht said that planned communities enable developers to assess demand for group living and test out new markets.
Godrej Properties intends to launch 21.9 million sq ft in FY25, with an estimated launch value of Rs 30,000 crore, according to the investors’ presentation. For FY25, the business expects to produce 15 million square feet of real estate, with sales booking projection of Rs 27,000 crore.
“Southern India’s stable and consistent market makes it an essential part of Godrej’s entire portfolio.” In comparison to other regions of India, it is less speculative, and end-user demand is robust,” Bisht continued.
