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Real estate demand steady, focus more on residential space, says Godrej Properties MD & CEO

Updated : March 31, 2021 12:41 PM IST

Real estate major Godrej Properties has been seeing a steady demand over the last couple of months and the company has launched a number of projects across geographies in the second half of this fiscal year.

Speaking to CNBC-TV18, Mohit Malhotra, MD & CEO of Godrej Properties said that the company is focusing more on residential real estate space and has launched a plotted development project in Bengaluru this quarter and will launch some projects in Pune as well.

Speaking in an interview to CNBC-TV18, Malhotra said, “Demand has been steady over the last couple of months and in H2 (second half of the year) we had multiple launches across geographies and we are seeing strong response by customers. Therefore, we are quite optimistic in the way launches have been over the last few months and our focus, predominantly, is on residential space.”

Godrej Properties has entered the central Noida market with their project 'Godrej Woods' -- selling 275 flats worth a total Rs 475 crore within a day of its launch.

On the company’s qualified institutional placement (QIP), he said, “This new round of fundraising was in-line with the company strategy. This is the third fundraise we have done in the last four years. The idea is to deploy this capital in new development opportunities.”

For full management commentary, watch the video
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