Realty firm Godrej Properties Ltd (GPL) plans to invest more than USD 1 billion over the next couple of years to acquire and develop new projects as part of its target to achieve higher growth, its Executive Chairman Pirojsha Godrej has said. Addressing shareholders in the company’s annual report, he highlighted that, for the first time, Godrej Properties was "India’s largest developer by the value and volume of sales it achieved." The executive chairman highlighted that the company in March raised ₹3,750 crore through Qualified Institutional Placement (QIP) process. "Our QIP in March raised ₹3,750 crore, and allowed your company to end the year with a net cash balance sheet," he said. It sold properties of more than ₹1,300 crore in each of the four focus markets last fiscal.

Source: Mint July 10, 2021 12:33 UTC