Godrej Properties Limited

Godrej Properties Limited

Type	Public company BSE: 533150 NSE: GODREJPROP
Industry	Real estate
Founded	1 January 1990[1]
Founder	Adi Godrej[1][2]
Headquarters	Mumbai, India
Number of locations	10[2]
Area served	India
Key people	Adi Godrej (Chairman, Godrej Group) Pirojsha Godrej(managing director)
Products	Residential buildings Commercial complex Township
Revenue	₹558.9 crore (US$83 million)[3]
Profit	₹130.9 crore (US$19 million)[3]
Total assets	₹1,701 crore (US$250 million)[3]
Owner	Adi Godrej
Number of employees	248[3]
Parent	Godrej Industries Ltd
Website	Official website

Godrej Properties Limited is a real estate company with its head office in Mumbai, India.A subsidiary of Godrej Industries Ltd, the company was established in the year 1990 under the leadership of Adi Godrej.^[1] The company is currently developing projects that are estimated to cover more than 89.7 million square feet.^[4] It is operational in 12 major cities across India including Chandigarh, Gurgaon, Ahmedabad, Kolkata, Nagpur, Mumbai, Pune, Hyderabad, Mangalore, Bengaluru, Chennai and Kochi.^[5][6] The company witnessed 130% growth in net profit, 77% in Earnings before Interest, Tax, Depreciation and Amortization (EBITDA) and approximately 5% growth in total income ^[7] in the first quarter of 2014 as compared to first quarter for 2013.^[8]

History

Background

Godrej Properties Limited was originally founded as Sea Breeze Constructions and Investments Private Limited^[9] on 8 February 1985. It was registered under the Companies Act, 1986 with the Registrar of Companies in Mumbai. In accordance with a special resolution of the shareholders in the year 1990, the company’s name was changed to Godrej Properties and Investments Private Limited. Subsequently, the name of the company was changed to Godrej Properties and Investments Limited and finally, to Godrej Properties Limited at a general meeting on 23 November 2004. Currently, Godrej Properties Limited(GPL) is listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).

The company undertakes their projects through the in-house team and by partnering with companies operational in the domestic and international market.

Established in 1990, they are one of the real estate development companies in India and are based in Mumbai, Maharashtra. They have real estate development projects in 12 cities across India. Currently, the business focuses on residential, commercial and township developments. They undertake the projects through in-house teams and by partnering with companies with domestic and international operations.

Timeline of Godrej Properties Limited

Year	Events
1991	The company entered into its first project by signing a Memorandum of Understanding (MoU) for the project named Godrej Edenwoods in Thane
1996	It was awarded with the ISO 9002: 1994 Certification by Bureau Veritas Quality International for its quality construction and real estate services.
1997	The first commercial project Mahatma Gandhi Seva Mandir (MGSM)[10] in Bandra, Mumbai was completed.
1999	The first project in Pune named Godrej Millennium was launched.
2001	The status of the company was changed to a public limited after a special resolution of the members was passed at the general meeting on 1 August 2001.
2004	The company expanded its operation outside Maharashtra with the launch of Godrej Woodsman Estate in Bengaluru
2005	Inked an agreement for the first project in Kolkata named Godrej Waterside.
2006	The company tied up with Rallis India Limited for its first project in Hyderabad named Planet Godrej.
2007	Acquired 26.7 acres of land at B.T. Road in Kolkata for real estate development purpose.
2008	Expanded its operations across India including some major cities like Ahmedabad, Chandigarh, Kochi and Chennai.
2009	The company implemented SAP across all the projects. In that same year, the company tied up with the Clinton Climate Initiative for Godrej Garden City project in Ahmedabad. It also signed a memorandum of understanding with Godrej Industries Limited for an upcoming project in Vikhroli, Mumbai.
2010	The name Godrej Properties & Investments Limited was changed to Godrej Properties Limited. The residential project Godrej Avalon was launched in Mangalore on 28 August 2010. Godrej Properties Ltd. also launched a residential project in Gurgaon.
2011	The subsidiary company of Godrej Properties, Godrej Premium Builders Private Limited entered into a development agreement with Magic Info Solution Private Limited & Others for the development of a project in Gurgaon. Godrej Properties’ subsidiary, Godrej Buildcon Private Limited signed an agreement with Jet Airways for the development of MMRDA’s 10309.58 square meters leasehold land at G-Block, Bandra-Kurla Complex in Bandra, Mumbai. The company signs an MOU with ICICI Bank.
2012	Godrej Properties Limited signed a Development Management Agreement with R.R. Builders for the redevelopment of MHADA property in Byculla, Mumbai through its subsidiary named Godrej Projects Development Private Limited (GPDLP).
2014	The company inked an agreement with Godrej & Boyce for a new project in Vikhroli, Mumbai.
2016	Godrej Properties signed a development agreement with Thane-based realty developer Vihang Group for an upcoming project .[11]|}. Also, the company is going to enter in Noida real estate market. The firm has partnered with AR Landcraft to develop 100 acres township project in Greater Noida. The company has also increased the speed of the development of its commercial projects due to expected rise in the number of commercial space buyers in near future.[12]
Top management [13] Name Designation Mr. Adi B. Godrej Chairman Mr. Pirojsha Godrej Managing Director & Chief Executive Officer See also Adi Godrej Godrej Industries Ltd Godrej Properties Golf Links References "Profile". Official website. Retrieved Jan 2012. Check date values in: |access-date= (help) "Corporate Brochure". Official website. Retrieved Jan 2012. Check date values in: |access-date= (help) "Annual report 10-11" (PDF). Bombay Stock Exchange. Retrieved Jan 2012. Check date values in: |access-date= (help) Project Span Company History Godrej Properties City-Wise FY2014 Q1 Report "Godrej Properties IPO". Reuters. 14 December 2009. Retrieved Jan 2012. Check date values in: |access-date= (help) Sea Breeze Constructions and Investments Private Limited Mahatma Gandhi Seva Mandir "Godrej Emerald, Thane West, Mumbai Thane". Aug 2016.