JOINT PRESS RELEASE
Godrej & Boyce and Godrej Properties to continue their association for land development in Vikhroli
April 30, 2024 Mumbai: Godrej & Boyce, the owner-developer, and Godrej Properties, the development manager, announced that the two companies will continue their Memorandums of Understanding executed from time to time, for development of land in Vikhroli owned by Godrej & Boyce, as and when Godrej & Boyce is desirous of developing the said land. Godrej Construction, a business of Godrej & Boyce, designed and built four phases of Godrej Platinum, an IGBC Platinum rated residential development project with a total constructed area of 1 million square feet, which has been marketed by Godrej Properties and, in March 2024, a new project named Godrej Vistas was successfully launched under this arrangement.
Jamshyd Godrej, Chairperson & Managing Director, Godrej & Boyce, said:
“The future development of Vikhroli presents a unique opportunity to create a holistic space in the metropolis of Mumbai where urban development and biodiversity co-exists harmoniously. Godrej Construction and Godrej Properties bring complementary strengths, and this has translated into the launch of successful real estate projects in Vikhroli.”
Pirojsha Godrej, Executive Chairperson, Godrej Properties, said “We look forward to continuing our association with Godrej & Boyce with a view to make Vikhroli into a world-class neighborhood that delivers its residents an outstanding quality of life while ensuring the highest standards of sustainable development.”
About Godrej & Boyce:
Since 1897, Godrej & Boyce and its affiliates have contributed significantly to India’s economic growth and self-reliance by investing in complex engineering, design led innovation and more recently, carbon-lite manufacturing. Its innovations include the world’s first patented springless lock, and safes, refrigerators and typewriters made in India for the first time. It also paved the way for the growth of key sectors like aerospace, energy, and security with its core industrial capabilities with businesses spanning across the globe.
Today, with a market-leading presence across 14 established consumer, industrial and emerging businesses, Godrej & Boyce continues to make critical contributions to India’s space missions, clean energy goals, green construction and intralogistics landscape, as well as delivering on consumers’ growing aspirations with design-led and integrated smart solutions in furniture, appliances and security. Godrej is one of India’s most trusted brands serving customers worldwide.
Godrej Construction is the real estate arm of Godrej and Boyce which specializes in end-to-end real estate development including construction and management services, green building consultancy services and innovative building materials that are sustainable and promote circularity in the building industry. Godrej Construction also provides environmental engineering and energy management solutions that help deliver holistic spaces to customers. Godrej Construction worked closely with the Confederation of Indian Industry (‘CII’) and World Wide Fund for Nature (‘WWF’) to create a unique indicator on ecosystem health, termed as the ‘Biodiversity Index’ - a first of its kind to be deployed for a township in India.
About Godrej Properties Limited:
Godrej Properties brings the Godrej philosophy of innovation, sustainability, and excellence to the real estate industry. Every Godrej Properties development combines a 126-year legacy of excellence and trust with a commitment to cutting edge design, technology, and sustainability. In FY 2021, Godrej Properties emerged as the largest developer in India by value and volume of residential sales achieved.
Godrej Properties has deeply focused on sustainable development. In 2010, GPL committed that all of its developments would be third party certified green buildings. In 2020 and again in 2021 and 2022, the Global Real Estate Sustainability Benchmark ranked GPL #1 globally amongst listed residential developers for its sustainability and governance practices. In 2017, GPL was one of the founding partners of the Sustainable Housing Leadership Consortium (SHLC), whose mission is to spread sustainable development practices across the Indian real estate sector. In recent years, Godrej Properties has received over 400 awards and recognitions, including the Porter Prize 2019, The Most Trusted Real Estate Brand in the 2019 Brand Trust Report, Builder of the Year at the CNBC-Awaaz Real Estate Awards 2019, and The Economic Times Best Real Estate Brand.