In a bid to fund its growth plans, Godrej Properties is planning to mop up around Rs 700 crore through rights issue. The issue is expected to be launched in the Q2FY14. The funds raised through the issue will be utilised for ongoing projects as well as new projects. Further, the company is planning to launch nearly 15 projects, some of which may come up in Mumbai, Delhi NCR, Bangalore and later in Pune and Chennai.
Godrej Properties is a realty firm of Godrej group, promoted by Godrej Industries and Godrej & Boyce Manufacturing Company. It is one of the leading real estate development companies in India based in Mumbai, Maharashtra. It is currently developing residential, commercial and township projects spread across 82 million square feet in 12 cities.
