Godrej Properties Submits QIP Proceeds Utilisation Monitoring Report for Quarter Ended March 31, 2026

Godrej Properties Confirms No Deviations in QIP Fund Utilization

Godrej Properties reported that it has utilized proceeds from its Qualified Institutional Placement in line with stated objectives for the quarter ended March 31, 2026, confirming that there has been no deviation in the utilization of proceeds. The monitoring agency, ICRA Limited, stated that the funds have been used strictly in line with the stated objectives.

Capital Raised and Deployment

The company had raised Rs 6,000 crore through the issue, with actual net proceeds revised to Rs 5,921 crore due to lower-than-expected issue-related expenses. The ₹6,000 crore qualified institutional placement represented the largest such fund-raise by a real estate company in India.

The company remains on track to utilize funds for its intended purposes by March 31, 2028, with no delays reported in implementation, with both land acquisition and corporate usage plans progressing as scheduled.

Regulatory Transparency and Investor Confidence

This reinforces adherence to regulatory requirements and ensures transparency for investors tracking capital deployment. The report, submitted to the National Stock Exchange and Bombay Stock Exchange, forms part of quarterly disclosures required under SEBI listing regulations for capital raises of this magnitude.

The report highlights Godrej Properties' structured approach to capital deployment, balancing active investment in growth assets with prudent management of unutilized funds.

About the QIP

The QIP had a mix of international and domestic investors, including GIC, Blackrock, Aberdeen, Norges Bank, SBI Pension, and ICICI Prudential Life Insurance. Jeffries, Morgan Stanley, Bank of America and Kotak were the bankers for the QIP.

Company Background

Godrej Properties Limited is an Indian real estate company headquartered in Mumbai that operates in the residential, commercial, and township development sectors across major Indian cities as a subsidiary of Godrej Industries Group. Godrej Properties was established in 1990 as the real estate development arm of the Godrej Group, a diversified Indian conglomerate founded in 1897, and in 2010 went public following an initial public offering.

The company achieved its highest-ever annual booking value of Rs 34,171 crore in FY26, representing a growth of 16% year-on-year.