Godrej Properties has made eight addition in the Delhi-NCR region by adding a new residential project in Sohna. The Mumbai-based real estate developer on Monday announced its entry into the Sohna real estate market to develop a Group Housing Project in Sector 33.
“This project will offer approximately 157,000 square meters (approximately 1.7 million sq. ft.) of saleable area and will be developed as a modern group housing development. This project is located just 12 kms from Golf Course Extension Road and offers easy access to Gurgaon from Sohna Road, ” the company’s said in a release.
Pirojsha Godrej, executive chairman, Godrej Properties said, “We are happy to add this new project in Sohna. This strengthens our development portfolio in NCR and fits with our strategy of deepening our presence across India’s leading cities. We will seek to ensure this project delivers an outstanding lifestyle for its residents.”
This is GPL’s first project in Sohna and eighth within the National Capital Region (NCR). The company further added, “Within five years of entering the NCR market, Godrej Properties has established itself as one of the market leaders in Gurgaon and hopes to replicate this success in other parts of NCR.”
Last month, the company said that that it has sold over 1000 apartment in Mumbai, Pune and Noida across three new projects since March 2017.
Reacting to the news, Godrej Properties shares were trading 2.23 per cent up at Rs 532.45 at 11.17 am.
Godrej Properties reported a consolidated net profit of Rs 63 crore for the quarter ended March as against a net loss of Rs 12 crore in the year-ago period. Total income rose by 21 per cent in the fourth quarter of last fiscal to Rs 475 crore from Rs 392 crore in the corresponding period of the previous year.
Godrej Properties is currently developing residential, commercial and township projects spread across approximately 13.16 million square meters (134.69 million square feet) in 12 cities.