Confident of creating profitable growth for Godrej Properties: Gaurav Pandey

economictimes.indiatimes.com:

«Essentially, if we see last financial year was a very exciting year for us because we saw an amazing set of opportunities at the right price point as well as the micro markets and locations. We were very clear we wanted to take our presence stronger,» says Gaurav Pandey, MD & CEO, Godrej Properties.Specifically talking about Godrej Properties, given the spate of land acquisitions you have done recently, how is business development expected to pan out for the full year? And also, do you think your business development guidance would be a bit conservative as opposed to last year?Essentially, if we see last financial year was a very exciting year for us because we saw an amazing set of opportunities at the right price point as well as the micro markets and locations. We were very clear we wanted to take our presence stronger.

And we did close to about 18 transactions with the logged in booking value of about Rs 32,000 crores. So you are right that last financial year was really an exciting sort of point of inflection for us. And we have seen a good start for this financial year.

We have already concluded two transactions, as you would have known, with one in Kolkata and one in Gurgaon. And we expect the momentum will continue. Finally, what you achieve, especially in investment opportunities, is more guided by the opportunities you get to see in terms of land market.

So if we do see is when we actually really move to a transaction. We are not really dictated by a sort of clear target in our mind that this is what we have to achieve. It is more about the opportunity that we get to see in market.