Godrej Properties Ltd. aims to nearly double its profitability over the next five years.
“We expect RoEs (Return on Equity) to be around 20 percent in the next five years from 10-12 percent currently,” Pirojsha Adi Godrej, executive chairman at Godrej Properties, told BloombergQuint in an interview. The company has access to adequate equity capital and can also borrow from the market to invest in new projects, he added.
Godrej Properties recorded its best ever pre-sales of over Rs 5,000 crore in the year-ended March, a growth of over 150 percent. Total sales for the company during the year stood at 6.5 million square feet.
Godrej expects a strong upturn in the sector in the next 12 months. While prices in the commercial real estate market have already recovered, the residential real estate market is primed for an improvement, said Godrej.
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