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Godrej Properties has achieved its most successful launch to date with the sale of 670 homes worth over Rs 2,000 crore in the 'Godrej Tropical Isle' project located in Sector 146, Noida. The project was launched in August 2023, just nine months after the land was purchased through an e-auction conducted by Noida Authority in November 2022.
Sector 146 is a prominent residential corridor in Noida, offering access to high-quality social infrastructure and close proximity to commercial hubs such as Noida SEZ, entertainment centers, and Film City. The area also boasts excellent connectivity to Indira Gandhi International Airport, the upcoming Jewar Airport, metro stations, and major expressways like Noida-Greater Noida Expressway, Yamuna Expressway, and the upcoming FNG Expressway.
Gaurav Pandey, MD & CEO, Godrej Properties, said, "We are delighted with the response to our project, Godrej Tropical Isle. Noida is an extremely important market for Godrej Properties and we will look to further strengthen our presence in the years ahead."
In FY 2021, Godrej Properties emerged as the largest developer in India by the value and volume of residential sales achieved. The company reported consolidated net profit of Rs 124.94 crore in Q1 FY24, steeply higher than Rs 45.55 crore in Q1 FY23. Revenue from operations zoomed to Rs 936.09 crore in June 2023 quarter from Rs 244.67 crore in the quarter ended 30 June 2022.
The scrip declined 0.96% to settle at Rs 1538.70 on 22 September 2023.
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