GPL Monitoring Report: QIP Proceeds Utilization Aligns with Objectives

Godrej Properties Limited (GPL) has submitted its Monitoring Agency Report for the quarter ended June 30, 2026. The report, issued by ICRA Limited, confirms that the utilization of proceeds raised through a Qualified Institutional Placement (QIP) is in line with the stated objects of the issue. The QIP, which closed on December 2, 2024, raised ₹6,000 Crore. Actual net proceeds amounted to ₹5,921 Crore, slightly higher than initially estimated due to lower-than-expected issue-related expenses. No deviations from the issue's objectives were observed, and no material changes in the means of finance for the disclosed objects have occurred.