Godrej Properties, the Mumbai-based real estate developer announced launch of their BKC (Bandra-Kurla Complex) project in partnership with country's largest private air carrier Jet Airways.
In an interview to CNBC-TV18, Pirojsha Godrej, managing director and chief executive officer of Godrej Properties says the company's focus, from a strategic perspective, is going to be more on residential real estate.
Godrej Properties launches its new residential project e-city in Bangalore. Pirojsha Godrej, MD & CEO, Godrej Properties tell us why this is an ideal project and the future of residential projects in India.
Leading real estate player Godrej Properties would invest up to Rs 600 crore in developing a residential complex in Gurgaon over the next five years.
Pirojsha Godrej, the MD and CEO of Godrej Properties says that while the economic environment in the country is lagging, he feels property is quite a sentiment driven industry.
In an interview with CNBC-TV18, Adi Godrej, Chairman, Godrej Industries expects strong growth in Godrej Consumer Products in the next fiscal too. He said that the company is doing exceptionally well in the domestic front.
Godrej Properties' institutional placement programme (IPP) to raise up to USD 90 million received bids for 18% more than the shares on offer. Pirojsha Godrej, executive director of Godrej Properties says, the funds will be used to fund growth of the company.
CNBC-TV18 finds out that Godrej Industries is looking to dilute promoter stake in the company through the institutional placement route.
Godrej Properties is looking to dilute promoter stake in the company through the institutional placement (IPP) route. CNBC-TV18 caught up with Adi Godrej, the chairman of Godrej Industries to get the details.
Speaking to CNBC-TV18, Adi Godrej, chairman of Godrej Properties said, the company is planning to bring down its debt-equity 1.2:1 in the coming year.
Godrej Properties will need to raise equity capital to meet growth plans, says company’s chairman Adi Godrej. “Quantum of funds raised will depend on market conditions. We are waiting for conditions to improve,” he adds.
In an exclusive interview to CNBC-TV18, Adi Godrej, Chairman of Godrej Properties says that they have entered into an agreement with Godrej and Boyce to act as development manager for their projects in Vikhroli.
Godrej Properties has announced its second quarter results. In an interview to CNBC-TV18, Adi Godrej, chairman of Godrej Properties says, the profits were lower than of the same quarter of the previous year because in the previous year the company had considerable private equity based profits and this year it was all operational profit.
Merrill Lynch has downgraded the realty sector. It expects Mumbai residential prices to fall 15-25% very soon. However, Adi Godrej, chairman and managing director of Godrej Group doesn’t expect prices to come down much in Mumbai. “In commercial, there is a bit oversupply, but not in residential.”
On Friday, Godrej Properties signed a deal with Jet Airways to develop one if its properties in Bandra-Kurla Complex (BKC) in Mumbai. In an exclusive interview to CNBC-TV18, Adi Godrej, Chairman of Godrej Industries said that the deal will be carried out through a special purpose vehicle called Godrej Buildcon.
Godrej Properties announced its first quarter results today. The company has clocked a smart growth in revenues, but profits came in at just Rs 10 crores, including Rs 4 crore of other income. Company chairman Adi Godrej said that the company is likely to see strong growth during the rest of the year on the back of the new projects.
Despite the slowing trend in the real estate market, Adi Godrej, chairman of Godrej Group expects a strong growth in its property business in this fiscal (FY12). "We will announce several new projects this year," he told CNBC-TV18 in an exclusive interview.
Adi Godrej, chairman and MD of Godrej Consumer in an interview with CNBC-TV18 citing expectations from the relaunched range of Godrej Expert hair colors said, "We expect very strong traction in our hair color business from this relaunch."
Diversified conglomerate Godrej Industries reported 42.34% increase in consolidated net profit for the quarter ended March 31, 2011. The chairman Adi Godrej expects strong growth in FY12.
Adi Godrej, chairman of Godrej Properties feels that the government has taken a good move but there is no reason why the country should put restrictions in FDI in any field.
Speaking to CNBC-TV18, chairman Adi Godrej said the company has formed a special purpose vehicle to look into redevelopment projects in Mumbai. "Ahmedabad contributed roughly 40% of fourth quarter revenues," he said.
Pirojsha Godrej, ED, Godrej Properties, told CNBC-TV18 about the first project coming out of Vikhroli called ‘The Trees.’ “It is a 60:40 profit sharing JV agreement between Godrej Properties, which will get 60% of the profits and Godrej Industries, which will get 40% of the profits.
In an interview with CNBC-TV18, Adi Godrej, CMD, Godrej Industries, speaks about the results and gives his outlook going forward.
Commenting on the progress of the Vikhroli project, Adi Godrej, chairman of Godrej Properties says work has already started the site. "The construction part should commence soon," he adds.