Godrej Properties raises Rs 1,275 cr via non-convertible debentures

Realty firm Godrej Properties has raised Rs 1,275.40 crore through the issue of non-convertible debentures (NCDs) on a private placement basis. In a regulatory filing on Friday, the company said the allotment committee of the board of directors of the company approved the allotment of 93,540 unsecured redeemable NCDs of the face value of Rs 1 lakh each, aggregating to Rs 935.40 crore. It also approved allotment of 34,000 such NCDs aggregating to Rs 340 crore. These NCDs were allotted to identified investors on a private placement basis. Godrej Properties is one of the leading real estate developers in the country. The company achieved maximum sales bookings number last fiscal among listed real estate entities. Godrej Properties plans to launch residential projects worth Rs 30,000 crore this fiscal across major cities to achieve 20 per cent growth in sales bookings amid strong demand, its executive chairperson Pirojsha Godrej had said in May. In an interview with PTI, Pirojsha ha