Godrej Properties, the Godrej Group’s real estate development business, has sold 670 flats for over Rs 2,000 crore in its project, Godrej Tropical Isle, in Noida’s sector 146.

Godrej Properties is an Indian real estate developer that specializes in residential, commercial, retail, and information technology developments.

Godrej Properties is a Godrej Industries Ltd. company. The Godrej Group’s diversified business portfolio includes real estate development, consumer products, and engineering.

They are one of India’s major real estate developers, with projects in Mumbai, Pune, Bangalore, Kolkata, and Hyderabad.

Adi Godrej founded Godrej Properties in 1990. Their headquarters are in Mumbai, India. They are working on projects encompassing more than 89.7 million square feet.

The emphasis on sustainability is obvious in Godrej Properties’ developments, which are meant to decrease carbon footprint and protect natural resources.

Godrej Properties is in addition devoted to producing superior projects that satisfy its clients’ demands and goals. The tasks of the firm are built with a focus on utility, aesthetics, and comfort in mind.

The project was inaugurated in August 2023, nine months after the Noida Authority purchased the land piece via an e-auction in November 2022.

According to a press release, this is Godrej Properties’ most successful launch in terms of sales value and volume.

“Noida is an extremely important market for Godrej Properties and we will look to further strengthen our presence in the years ahead,” said Gaurav Pandey, MD & CEO, of Godrej Properties.

Sector 146 is a well-known new residential corridor in Noida. It has access to high-quality social infrastructure and is close to commercial infrastructure such as Noida SEZ, entertainment centers, Film City, and so on.

Godrej Properties increased its net profit by 174% year on year to Rs 125 crore for the fiscal quarter ended June, thanks to a 251% increase in total revenue to Rs 1,315 crore.

During the quarter, the company’s bookings fell 11% to Rs 2,254 crore, with 2.25 million square feet sold.

Between April and July, the developer added four projects with a total estimated saleable area of 3.7 million square feet and a potential booking value of Rs 6,450 crore.

Godrej Properties shares were trading at Rs 1,561.90 in the early hours of Monday, up 1.5% from the previous day’s closing.