Godrej Properties Mops Up Rs 1,275 Crore Via Bonds
The board approved the allotment of 93,540 unsecured redeemable NCDs of the face value of Rs 1 lakh each.
Godrej Properties Ltd. has raised Rs 1,275.40 crore through the issue of non-convertible debentures on a private placement basis.
The allotment committee of the board of directors approved the allotment of 93,540 unsecured redeemable NCDs, of the face value of Rs 1 lakh each, aggregating to Rs 935.40 crore, according to an exchange filing on Friday.
The company also approved allotment of 34,000 such NCDs aggregating to Rs 340 crore.
Godrej Properties is one of the leading real estate developers in the country. The company achieved maximum sales bookings last fiscal among listed real estate entities.
The developer plans to launch residential projects worth Rs 30,000 crore this fiscal across major cities, to achieve 20% growth in sales bookings amid strong demand, its Executive Chairperson Pirojsha Godrej said in May.
In the last fiscal, the company's sales bookings jumped 84% to a record Rs 22,527 crore, from Rs 12,232 crore in the preceding year. It delivered 12.5 million square feet area in the last fiscal and is aiming to scale it up to 15 million square feet in FY25.
(With inputs from PTI)
