Realty Check

Having established a strong brand pan-India, Pirojsha Godrej, executive chairman, and Mohit Malhotra, MD & CEO, Godrej Properties, are giving competitors a serious run for their money.

- Mitalee Kurdekar

There is a lot that this dynamic duo has in common. While their similar work-ing styles in terms of their analytical thinking and attention to detail are common knowledge by now, there is one quality that the men at the helm of affairs at Godrej Properties are best known for – and that is modesty beyond compare. However, even their unique brand of reticence cannot camouflage their sense of pride born of recent achievements. In fact, Pirojsha Godrej, executive chairman, and Mohit Malhotra, MD & CEO, Godrej Properties, are both sporting wide grins when I meet them at the company’s Mumbai headquarters, the iconic Godrej One premises. And rightfully so.

After all, the pair has managed to achieve what most are only dreaming of in these trying times for Indian realty. The numbers are proof enough of this fact. The company has reported becoming India’s largest publicly listed developer by booking value over the past two years. Their FY18 Q3 results showed a 76% YoY growth in value of sales bookings, with their total booking value reported at Rs 1,220 crore. Similarly, even as other developers are battling with unsold inventory, in the first three quarters of FY18, Godrej Properties’ residential sales were reported to be higher than in any other period. Additionally, in the same time frame, the company has launched three projects with success; these are spread out across geographies – Noida, Mumbai and Bengaluru. As a result of these factors, the company’s share price too has soared.