Godrej Properties to Raise Rs 6,000 Crore Through Securities Issue

New Delhi, Oct 1 (PTI) Realty firm Godrej Properties on Tuesday said its board has approved raising of up to Rs 6,000 crore through the issue of securities.

In a regulatory filing, Godrej Properties informed that the board has approved the raising of funds for an aggregate amount not exceeding Rs 6,000 crore.

The funds would be raised through the issuance of securities, including equity shares, debentures, preference shares and/or any other eligible securities.

The fund raising could be in one or more tranches through public and/or private offerings including qualified institutions placement, rights issue, further public offer or any other mode as may be permitted under applicable laws and/or any combination thereof.

Godrej Properties is one of the leading developers in the country. It has a major presence in Delhi-NCR, Mumbai Metropolitan Region (MMR), Pune and Bengaluru. It has entered into Hyderabad market recently.

In the last fiscal, the company's sales bookings jumped 84 per cent to a record Rs 22,527 crore, the highest among listed realty firms in 2023-24.

It has set a target of achieving Rs 27,000 crore worth of sales bookings.

Already, Godrej Properties' sales bookings jumped nearly four times to Rs 8,637 crore in the first quarter of this fiscal against Rs 2,254 crore in the year-ago period.