Incorporated in 1990, Godrej Properties Limited (GPL) is one of the leading real estate development companies in India based in Mumbai, Maharashtra. Godrej Properties currently have real estate development projects in 10 cities in India, which are at various stages of development. Company’s business focuses on residential, commercial and township developments.
Godrej Properties parent company, Godrej Industries Limited, currently holds 80.26% of their equity share capital. Godrej Industries Limited is the listed flagship company of the Godrej group of companies.
Godrej Properties entered into their first project in 1991. Initially their operations is in the Mumbai Metropolitan region and later expanded to other cities such as Pune, Bengaluru, Kolkata, Hyderabad, Ahmedabad, Mangalore, Chandigarh, Chennai and Kochi. As of October 15, 2009, they have completed a total of 23 projects comprising 16 residential and seven commercial projects, aggregating approximately 5.13 million sq. ft. of Developable Area.
Objects of the Issue:
The objects of the Issue are to achieve the benefits of listing on the Stock Exchanges & to raise capital to:
1. Acquisition of land development rights for Forthcoming Projects;
2. Construction of their Forthcoming Project;
3. Repayment of loans; and
4. General Corporate Purposes.