Godrej Properties Limited was established in 1990 as a real estate development company within the Godrej Group business. The company was originally incorporated on February 8, 1985 as Sea Breeze Constructions and Investments Private Limited. In 1990, the name of the company was changed to Godrej Properties and Investments Pvt Ltd. In 1991, the company changed their status to a public limited company and the name of the company was changed from Godrej Properties and Investments Private Limited to Godrej Properties Limited with effect from November 23, 2004.
Godrej Properties Limited, the real estate development arm, belonging to the Godrej Group, is one of the leading real estate development companies in India. The company is focused on developing residential, commercial, retail and IT projects across cities like Mumbai, Pune, Bangalore, Kolkata and Hyderabad. Their business focuses on residential, townships, commercial complexes, office spaces, business centres, IT Parks and technology parks. The company is the subsidiary of Godrej Industries Ltd.
The company is a fully integrated real estate development company involved in all activities associated with the development of residential and commercial real estate. They undertake their projects through their in-house team of professionals and by partnering with companies with domestic and international operations. Godrej Properties is currently developing residential, commercial and township projects spread across approxim ...ately 14 million square meters (151 million square feet) in 12 cities.
In May 1991, the company entered into their first project, namely Godrej Edenwoods at Thane in Mumbai. Initially, the company concentrated their operations in the Mumbai Metropolitan region and later they expanded to other cities such as Pune, Bengaluru, Kolkata, Hyderabad, Ahmedabad, Mangalore, Chandigarh, Chennai and Kochi. In the year 1994, they completed their first residential building, namely Cypress, a part of Godrej Edenwoods.
In the year 1996, the company was awarded ISO 9002: 1994 certification by Bureau Veritas Quality International. In the year 1997, they completed their first commercial project, namely MGSM at Bandra in Mumbai. In the year 1999, they launched their first project in Pune, namely Godrej Millennium.
In the year 2004, the company launched Godrej Woodsman Estate in Bangalore. In January 22, 2004, the company entered into a joint development agreement with Amco Batteries Ltd for development of land admeasuring 20.1 acres located at Hebbal Village in Bengaluru.
In the year 2005, they executed agreement for the first project in Kolkata, namely Godrej Waterside. In the year 2006, they made a tie up with Rallis India Ltd for their first project in Hyderabad.
During the year 2005-06, the company acquired two private limited companies, namely Godrej Waterside Properties Pvt Ltd and Godrej Realty Pvt Ltd. During the year 2006-07, they formed three new private limited companies, namely Godrej Real Estate Pvt Ltd, Godrej Developers Pvt Ltd and Godrej Sea View Properties Pvt Ltd.
During the year 2007-08, the company took over a new company, namely Happy Highrises Ltd with effect from July 18, 2007. Also, they acquired 26.7 acres of land at B. T. Road, Kolkata. In December 18, 2007, the company entered into a joint development agreement with Esskay Properties and Investments Ltd for development of land admeasuring 9.18 acres located at Nagarur Village, Bengaluru.
In February 15, 2008, the company entered into a joint development agreement with TCM Ltd for development of land admeasuring 21.66 acres located at Trikkakara North Village, Ernakulam District. In February 22, 2008, they entered into an MoU with Addison & Company Ltd, Chennai, for the development of land admeasuring 17.397 acres located at Chembarambakkam Village, Chennai into IT, commercial and residential buildings.
During the year 2008-09, the company signed an MOU with the Ahmedabad Municipal Corporation for the development of a special township project at village Jagatpur, Gujarat. Also, they also signed an agreement for development of an integrated township at Kalyan, a suburb of Mumbai Metropolitan region.
During the year, the company received the 'Corporate Governance of the Year' award in the 23rd Annual Awards for Excellence in Real Estate for the year 2008 held by Accomodation Times.
During the year, the company sold their entire stake in Girikandra Holiday Homes and Resorts Ltd to Valuable Infrastructure Pvt Ltd for an amount of Rs 19.61 crores. Also, they diluted their stake in Godrej Developers Pvt Ltd by transferring 15,968 equity shares of Rs 10 each to Red Fort India Real Estate Babur at a premium of Rs 12,841.86 per equity share. In July 11, 2008, they formed a new wholly owned subsidiary, namely Godrej Estate Developers Pvt Ltd.
In the year 2009, the company made a tie up with the Clinton Climate Initiative for their Godrej Garden City project in Ahmedabad. They executed an MoU with Godrej Industries Ltd to develop one of their forthcoming projects in Vikhroli, Mumbai.
During the year 2009-10, the company entered the capital market with the initial public offer (IPO) of 9,429,750 equity shares of Rs 10 each. The shares were listed on the Bombay Stock Exchange Ltd and National Stock Exchange of India Ltd on January 5, 2010.
During the year, the company successfully completed several projects, most notably the 1st Phase of Godrej Waterside - commercial project in Kolkata, Godrej Woodsman Estate - a residential project in Bengaluru and Godrej Coliseum in Mumbai.They launched mid-income residential projects in Ahmedabad and Kolkata. The Company commenced operations in Chandigarh, Chennai and Mangalore.
During the year, the company signed MOU for development of project at Pune. They also signed an MOU with Godrej Industries Ltd and Godrej and Boyce Mfg. Company Limited for undertaking the development of a 36.5 acres project at Vikhroli, Mumbai.
During the year, HDFC PMS, a real estate private equity fund, invested 49% each in subsidiaries, Godrej Estate Developers Pvt Ltd and Godrej Sea View Properties Pvt Ltd, for development of a commercial project, Godrej Eternia in Chandigarh and a residential project, Godrej Palm Grove in Chennai respectively. In Godrej Sea View Properties Pvt Ltd, 22.27% of the equity share capital out of 49% was transferred before March 31, 2010. Also, Milestone Real Estate Fund invested 49% in Happy Highrises Ltd, a subsidiary for development of Godrej Prakriti, a mix-use project in Kolkata.
During the year 2010-11, the company successfully completed several residential projects in Mumbai, most notably Godrej Riverside in Kalyan, Godrej Edenwoods in thane, and Tower 5 of Planet Godrej in Mahalaxmi. They entered the NCR region, with the launch of their residential project Godrej Frontier, in Gurgaon in October 2010. They also launched new residential projects in Bengaluru and Mangalore. The company also launched Godrej Eternia and Godrej Genesis - commercial projects in Chandigarh and Kolkata respectively.
In May 2010, the company transferred 26.73% of the equity share capital of Godrej sea View Properties Pvt Ltd to HDFc PMs in May 2010, and another 0.9% of the equity share capital through supplementary/ amendment agreements in December 2010. The company also acquired the entire paid up share capital of Udhay GK Realty Pvt Ltd from HDFc Ventures Trustee Company Ltd in March 2011.
In May 2011, the company signed a development agreement with Capsulation Services Pvt Ltd to develop a plot of land admeasuring approximately 5895 square metres located at Deonar near Chembur in Mumbai as a residential project. In August 2011, the company through their wholly owned subsidiary Godrej Buildcon Pvt Ltd signed a development agreement with Jet Airways (India) Ltd for development of MMRDA leasehold land admeasuring 10309.58 sq. mtrs, situated at G-Block, Bandra-Kurla Complex, Bandra, Mumbai. In October 2011,, the company made a tie up with Universal Builders, wherein GPL will act as the development manager, for developing approximately 0.4 million square feet of residential villas, spread over 14.5 acres at Electronic City, Bengaluru.
In 2012, the company has entered into a Development Management Agreement with R.R. Builders to redevelop a MHADA property in Byculla, Mumbai, through its wholly owned subsidiary Godrej Projects Development Private Limited (GPDPL). The company also completed the sale of first phase of its residential project based in Gurgaon, named as Godrej Summit during the year.
In 2013, the company adds a large new project in Mumbai and in NCR. The company also adds a new project at a prime location in New Delhi. The company announces a new redevelopment project in Malad, Mumbai. The company enters new joint venture project in Pune. The company launches Affordable Housing in Ahmedabad. During the year, the company approved the scheme of amalgamation of two of its subsidiaries Godrej Developers Private Ltd with Godrej Projects Development Private Ltd. During the year, the company launches Townhomes in Bengaluru and also Godrej Oasis in Gurgaon. The company also acquired shares of Godrej Buildwell Private Limited (GBPL) by Godrej Projects Development Pvt Ltd. The company also inked agreement with Godrej & Boyce to develop a new project on the Eastern Express Highway, Vikhroli, Mumbai.
In 2015, the company tied up with Snapdeal. During the year, the company also announced a township project in Pune. The company also added a large new residential project in Kolkata to its portfolio. The company launches a new project in Mumbai and also launches Godrej Prana project in Pune.On 30 September 2015, Godrej Properties announced that it has sold 435,000 sq. ft. of saleable area at its commercial project, Godrej BKC in Bandra-Kurla Complex (BKC), Mumbai. On 26 November 2015, Godrej Properties announced the launch of its flagship project, The Trees at Vikhroli in Mumbai. With an area of 34 acres, this is one of the largest real estate projects in Mumbai and is the first step towards the greater development opportunity that will unfold in Vikhroli.
On 7 December 2015, Godrej Properties announced that it has sold 300 apartments within one week at The Trees, its flagship project in Vikhroli, Mumbai. This represents more than 80% of the 374 apartments it opened for sale in the first phase of this project. The value of apartments sold is in excess of Rs 700 crore making this Godrej Properties' most successful ever launch in terms of value of real estate sold.
On 25 January 2016, Godrej Properties Ltd. (GPL) announced it has entered the Noida real estate market for the first time through a Development Management Agreement to develop a residential group housing project within Lotus Greens Sports City in Sector 150, Noida.
On 21 March 2016, Godrej Properties announced the establishment of Godrej Fund Management (GFM), a dedicated funds management subsidiary. GFM has raised a USD 275 million (about Rs 1900 crore) pool of capital, Godrej Residential Investment Program II (GRIP II) with Dutch pension fund asset manager APG Asset Management N.V. (APG) as the lead investor.
On 7 June 2016, Godrej Properties announced its entry into the Greater Noida real estate market with the announcement of its plan to develop a golf centric township in Sector 27, Greater Noida. Spread over 100 acres, this low density project will offer approximately 370,000 square meters (4 million sq. ft.) of saleable area and will be developed as a modern golf township comprising of a 9-hole golf course and villas amongst other lifestyle amenities.
On 14 September 2016, Godrej Properties (GPL) announced that it has opened an international representative office in Singapore. The office is strategically located at One Fullerton Road in the heart of Singapore's key business district. With the opening of this new representative office, GPL's second international office after its first one was opened in Dubai two years ago, GPL will engage directly with the Indian diaspora located across Singapore and neighbouring geographies.
On 4 January 2017, Godrej Properties announced that it has sold over 300 apartments within two months of launch at its project Godrej Greens in Pune. This represents more than 75% of the 400 apartments that were opened for sale, making this one of the most successful recent residential launches.
On 17 April 2017, Godrej Properties announced that it has partnered with Taj Hotels Palaces Resorts Safaris to develop a world class Taj brand hotel at its flagship project, The Trees, in Vikhroli, Mumbai. The Taj at The Trees will offer approximately 150 guest rooms and suites along with world class dining, entertainment, and conferencing facilities.
On 3 May 2017, Godrej Properties Ltd. (GPL) announced that it has sold over 1,000 apartments across three new project launches - Godrej Origins at The Trees in Mumbai, The Suites at Godrej Golf Links in Greater Noida, and Godrej 24 at Hinjawadi, Pune - since March 2017.
On 19 March 2018, Godrej Properties Ltd. (GPL) announced that it has diluted part of its holding in the entity which is developing Godrej Two, the under construction Grade A commercial building located at The Trees in Vikhroli, Mumbai. Godrej Properties has entered into a deal with Godrej Fund Management (GFM) for a 50% stake in Godrej Two.
On 8 June 2018, Godrej Properties Ltd. (GPL) announced that it has completed the allotment of 1.27 crore equity shares of Rs 5 each to GAMNAT Pte. Ltd., a GIC- managed investment firm. The total capital raised from this issue is Rs 1000 crore.
In 2018-19, the Company launched 16 successful new project/phase. It added 11 new projects with saleable area of ~31 million sq. ft. in FY19 which includes GPL's largest ever deal in the Pune market. It delivered ~3.2 million sq. ft. across 5 cities in FY19. GPL's first precast plant was set up at Godrej Golf Links, NCR to reduce construction timelines. It also launched first ever plotted development in Bangalore.
In 2019-20, the Company added 10 new projects with 19 million sq. ft. saleable area potential in aggregate located across Bangalore, National Capital Region and Mumbai. One of the key developments during the year was acquisition of 26 acres in Central Delhi from the Railway Land Development Authority with a saleable potential of 3.3 million sq ft. It added a plotted development in Faridabad, making it first company project in the city. On the operational front, it delivered 5.2 million sq. ft. across its projects. It launched 17 new projects/phases in FY20. Most notable of these were Godrej South Estate, Delhi with booking value of Rs. 510 crore and Godrej Nurture, Bengaluru with booking value of Rs. 316 crore.
In year 2020-21, Company launched 11 projects/phases, including Sector 43 Noida, with a booking value of Rs. 509 crore and Godrej Royale Woods, Bengaluru, with a booking value of Rs. 371 crore. It added 4 new projects with saleable potential of around 6 million sq. ft. to its portfolio. One key achievement was the acquisition of 18 acres of land in Whitefield, Bengaluru, with saleable potential of 2.5 million sq. ft. The Company emerged the highest bidder in the CIDCO e-auctioning process for two adjacent plots in Sanpada, Mumbai. On the operational front, it delivered 6.5 million sq.ft across projects.
The Company launched 16 new projects/phases in FY2021-22, including Godrej Woods in Noida. It added six new projects with saleable
potential of around 9.33 million sq. ft. to its portfolio during the year. This includes planned development in Wadala in MMR (1.6 million sq. feet), Sarjapur 5 and Bannerghatta Road in Bangalore (4.9 million sq. feet), Pimpri-Chinchwad in Pune (1.70 million sq. feet), Sonipat and Connaught Place in NCR (1.13 million sq. feet). It delivered 6.4 million sq.ft across projects on the operational front. As on March 31, 2022, the Company had 84 current and upcoming projects with a total saleable area of 190 million sq ft., excluding Nagpur which
was added in April 2022 with a focus on four core regions of Mumbai Metropolitan Region, National Capital Region, Pune and
Bangalore.
During the FY 2022-23, the Company launched 24 new projects/ phases, including Godrej Horizon in Mumbai and Godrej Splendour in Bengaluru. It launched 18 new projects with saleable potential of around 29 million sq. ft. to its portfolio during the year, 7 in MMR, 5 in NCR, 2 each in Bengaluru and Pune, and 1 each in Nagpur and Chennai. It launched Godrej Woods in Noida, Godrej Horizon in Mumbai, Godrej Splendour in Bengaluru, Godrej Woodsville in Pune and Other new plotted project, Godrej Orchard Estate in Nagpur.
In 2023-24, Company launched 26 new projects/ phases in FY2023-24, of which, 4 projects namely Godrej Zenith (NCR), Godrej Reserve (MMR), Godrej Aristocrat (NCR) and Godrej Tropical Isle (NCR). It added ten new projects with saleable potential of around 18.93 million sq. ft. to its portfolio during the year, 4 in NCR, 2 each in Bengaluru and Hyderabad, 1 in Kolkata and 1 in Nagpur.
In FY 2024-25, Company added 14 new residential projects across Noida, Gurugram, MMR, Kolkata, Bengaluru, Pune, Ahmedabad, and Indore, with an estimated saleable area of ~19 million sq. ft. carrying a revenue of Rs 26,450 Crores. In 2024-25, Maan-Hinje Township Developers LLP was converted to a Private Limited Company - 'Maan-Hinje Township Developers Private Limited' w.e.f. July 03, 2024 and became a subsidiary of the Company. Pearlshine Home Developers Private Limited was acquired by the Company on February 03, 2025 as a wholly-owned subsidiary of the Company. The name of Godrej Home Constructions Limited, a wholly-owned subsidiary of GPL was changed to Godrej Township Development Limited in FY25. The Company entered the Indore market with two new deals. It included one project addition each in Ahmedabad and Kolkata after a few years.
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