Godrej Properties Ltd (GPL) sold homes worth over Rs 1,000 crore with a total area of about 0.84 million square feet (msf) in its Godrej Madison Avenue project in Kokapet in Hyderabad, which marked the Mumbai-based developer’s entry into the city.
The project was launched in January 2025 and since then, the company has managed to sell over 300 homes.
Kokapet is one of Hyderabad’s most sought-after residential and commercial hubs. The area offers connectivity to Outer Ring Road, financial district – Gachibowli, and HITEC City.
Earlier, the company stated that the project has an estimated booking value of around Rs 1,300 crore. The project has about 1.2 msf of saleable area. It offers premium 3 and 4 BHK residential apartments.
Gaurav Pandey, managing director and chief executive officer of Godrej Properties, said, “We are thrilled with the response to our first project in Hyderabad. This success reiterates the huge growth opportunity available to Godrej Properties in Hyderabad and the strong demand for premium residential developments in Kokapet.”
Besides, in 2024, Kokapet saw 1,506 new sales transactions with a gross sales value of Rs 1,869 crore, according to Square Yards Data Intelligence, a real estate data analytics platform.
In 2024, the homes were sold at an average rate of Rs 12,585 per square foot in Kokapet. In 2024, the price declined by 1.9 per cent.
Pandey also informed that the company aims to expand its presence in the city and will be launching another project shortly.
Additionally, earlier in February, the company sold another Rs 1,000 crore worth of inventory in Pune.
Previously, Godrej Properties’ profit attributable to equity holders in the third quarter ending December 2024 (Q3 FY25) increased by 161.2 per cent year-on-year (Y-o-Y) to Rs 162.64 crore.
However, the company’s sales declined by 4.8 per cent Y-o-Y to Rs 5,446 crore. Despite the decline, the company delivered sales of more than Rs 5,000 crore for the sixth consecutive quarter. On a quarterly basis, sales were up by 4.8 per cent.
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