Godrej Properties Limited

Godrej Properties Limited
Public company
BSE: 533150
NSE: GODREJPROP
Industry Real estate
Founded 1 January 1990[1]
Founder Adi Godrej[1][2]
Headquarters Mumbai, India
Number of locations
 10[2]
Area served
 India
Key people
 Adi Godrej (Chairman, Godrej Group)
Pirojsha Godrej(managing director)
Products Residential buildings
Commercial complex
Township
Revenue IncreaseINR558.9 crore (US$89 million)[3]
Profit IncreaseINR130.9 crore (US$21 million)[3]
Total assets IncreaseINR1701 crore (US$270 million)[3]
Owner Adi Godrej
Number of employees
 248[3]
Parent Godrej Industries Ltd
Website Official website

Godrej Properties Limited is a real estate company with its head office in Mumbai, India.A subsidiary of Godrej Industries Ltd, the company was established in the year 1990 under the leadership of Adi Godrej.[1]

The company is currently developing projects that are estimated to cover more than 89.7 million square feet.[4] It is operational in 12 major cities across India including Chandigarh, Gurgaon, Ahmedabad, Kolkata, Nagpur, Mumbai, Pune, Hyderabad, Mangalore, Bengaluru, Chennai and Kochi.[5][6] The company witnessed 130% growth in net profit, 77% in Earnings before Interest, Tax, Depreciation and Amortization (EBITDA) and approximately 5% growth in total income [7] in the first quarter of 2014 as compared to first quarter for 2013.[8]

History

Background

Godrej Properties Limited was originally founded as Sea Breeze Constructions and Investments Private Limited[9] on 8 February 1985. It was registered under the Companies Act, 1986 with the Registrar of Companies in Mumbai. In accordance with a special resolution of the shareholders in the year 1990, the company’s name was changed to Godrej Properties and Investments Private Limited. Subsequently, the name of the company was changed to Godrej Properties and Investments Limited and finally, to Godrej Properties Limited at a general meeting on 23 November 2004. Currently, Godrej Properties Ltd.(GPL) is listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).

The company undertakes their projects through in-house team and by partnering with companies operational in domestic and international market.

Established in 1990, they are one of the real estate development companies in India and are based in Mumbai, Maharashtra. They have real estate development projects in 12 cities across India. Currently, their business focuses on residential, commercial and township developments. They undertake their projects through in-house team and by partnering with companies with domestic and international operations.

Timeline of Godrej Properties Limited

Year Events
1991
  • The company entered into its first project by signing a Memorandum of Understanding (MoU) for the project named Godrej Edenwoods in Thane
1996
1997
  • The first commercial project Mahatma Gandhi Seva Mandir (MGSM)[10] in Bandra, Mumbai was completed.
1999
  • The first project in Pune named Godrej Millennium was launched.
2001
  • The status of the company was changed to a public limited after a special resolution of the members was passed at the general meeting on 1 August 2001.
2004
  • The company expanded its operation outside Maharashtra with the launch of Godrej Woodsman Estate in Bengaluru
2005
  • Inked an agreement for the first project in Kolkata named Godrej Waterside.
2006
  • The company tied up with Rallis India Limited for its first project in Hyderabad named Planet Godrej.
2007
  • Acquired 26.7 acres of land at B.T. Road in Kolkata for real estate development purpose.
2008
  • Expanded its operations across India including some major cities like Ahmedabad, Chandigarh, Kochi and Chennai.
2009
  • The company implemented SAP across all the projects.
  • In that same year, the company tied up with the Clinton Climate Initiative for Godrej Garden City project in Ahmedabad.
  • It also signed a memorandum of understanding with Godrej Industries Limited for an upcoming project in Vikhroli, Mumbai.
2010
  • The name Godrej Properties & Investments Limited was changed to Godrej Properties Limited.
  • The residential project Godrej Avalon was launched in Mangalore on 28 August 2010.
  • Godrej Properties Ltd. also launched a residential project in Gurgaon.
2011
  • The subsidiary company of Godrej Properties, Godrej Premium Builders Private Limited entered into a development agreement with Magic Info Solution Private Limited & Others for the development of a project in Gurgaon.
  • Godrej Properties’ subsidiary, Godrej Buildcon Private Limited signed an agreement with Jet Airways for the development of MMRDA’s 10309.58 sq. metres leasehold land at G-Block, Bandra-Kurla Complex in Bandra, Mumbai.
  • The company signs an MOU with ICICI Bank.
2012
  • Godrej Properties Limited signed a Development Management Agreement with R.R. Builders for the redevelopment of MHADA property in Byculla, Mumbai through its subsidiary named Godrej Projects Development Private Limited (GPDLP).
2014
  • The company inked an agreement with Godrej & Boyce for a new project in Vikhroli, Mumbai

Recently, the company announced that it is expected to launch 15 to 16 residential projects across India in this fiscal year.[11] It also announced that it is focusing on building homes that are designed on the principles of sustainability and offer world class lifestyle.[12] With the growing trend in purchase of affordable luxury homes by the apartment buyers, the company sees scope in the residential property business.

The company has also increased the speed of the development of its commercial projects due to expected rise in the number of commercial space buyers in near future.[13]

Top management

[14]

Name Designation
Mr. Adi B. Godrej Chairman
Mr. Pirojsha Godrej Managing Director & Chief Executive Officer

Projects

Integrated Township

Current

Upcoming

Residential Property

Current

Upcoming

Completed

Commercial Property

Current

Upcoming

Completed

Green Initiative

In 2004, when the CII Godrej Green Business Centre was inaugurated, it was the single highest LEED platinum-rated building in the world. CII-Sohrabji Godrej Green Business Centre has expertise in offering advisory services to the industry in the areas of green buildings, energy efficiency, water management, environment management, renewable energy, green business incubation and climate change activities. The centre sensitises key stakeholders to embrace green practices and facilitates market transformation, paving the way for India to become one of the global leaders in green businesses by 2015.

See also

References

  1. ↑ 1.0 1.1 1.2 "Profile". Official website. Retrieved Jan 2012.
  2. ↑ 2.0 2.1 "Corporate Brochure". Official website. Retrieved Jan 2012.
  3. ↑ 3.0 3.1 3.2 3.3 "Annual report 10-11" (PDF). Bombay Stock Exchange. Retrieved Jan 2012.
  4. ↑ Project Span
  5. ↑ Company History
  6. ↑ Godrej Properties City-Wise
  7. ↑ FY2014 Q1 Report
  8. ↑ "Godrej Properties IPO". Reuters. 14 December 2009. Retrieved Jan 2012.
  9. ↑ Sea Breeze Constructions and Investments Private Limited
  10. ↑ Mahatma Gandhi Seva Mandir
  11. ↑ Upcoming Projects in FY 2014
  12. ↑
  13. ↑
  14. ↑
  15. ↑ Godrej Garden City
  16. ↑ Godrej City Panvel
  17. ↑ "Godrej E-City, Bangalore".
  18. ↑ "Godrej Summit,Gurgaon".
  19. ↑ Godrej Aria