Realty firm Godrej Properties has raised Rs 1,275.40 cr through the issue of non-convertible debentures (NCDs) on a private placement basis.
In a regulatory filing on Friday, the company said the allotment committee of the board of directors of the company approved the allotment of 93,540 unsecured redeemable NCDs of the face value of Rs 1 lakh each, aggregating to Rs 935.40 cr.
It also approved allotment of 34,000 such NCDs aggregating to Rs 340 cr.
These NCDs were allotted to identified investors on a private placement basis.
Godrej Properties is one of the leading real estate developers in the country.
The company achieved maximum sales bookings number last fiscal among listed real estate entities.
Godrej Properties plans to launch residential projects worth Rs 30,000 cr this fiscal across major cities to achieve 20 per cent growth in sales bookings amid strong demand, its executive chairperson Pirojsha Godrej had said in May.
In the last fiscal, the company’s sales bookings jumped 84 per cent to a record Rs 22,527 cr, from Rs 12,232 cr in the preceding year.
Godrej Properties plans to launch 21.9 mn (219 lakh) square feet area this fiscal with an estimated sales booking value of Rs 30,000 cr.
During the 2023-24 fiscal, the company’s net profit increased to Rs 725.27 cr, from Rs 571.39 cr in the preceding year.
Total income rose to Rs 4,334.22 cr last fiscal year, from Rs 3,039 cr in 2022-23.
The company delivered 12.5 mn square feet area in the last fiscal and is targeting to scale it up to 15 mn square feet in 2024-25.
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First Published: Jul 26 2024 | 4:31 PM IST