new delhi realty firm godrej properties is targeting to sell rs 2000 crore worth commercial assets over the next 23 years to reduce debt the company also plans to launch 14 projects this fiscal and is exploring opportunities to add more projects for future development godrej properties managing director and ceo pirojsha godrej said our debt has increased to reach about rs 2750 crore at the end of the march quarter godrej told when asked about the companys debt position we hope to sell rs 2000 crore worth commercial properties over the next 23 years this will be utilised to reduce our debt he added godrej properties net debt increased to rs 2764 crore as on march 31 2015 from rs 2605 crore at the end of december 2014 about twothirds of the debt is attributable to the commercial projects mumbaibased developer is constructing a large commercial project godrej bkc in mumbai it is also coming up with commercial projects at chandigarh and kolkata on proposed launches godrej said we will launch 14 projects this fiscal about 7 will be greenfield projects and seven will be the new phases in the existing projects he did not give any guidance for sales booking for the 201516 fiscal the company had achieved a sales booking volume of 39 million sq ft worth rs 2681 crore in last fiscal it achieved highest ever annual residential sales of 36 million sq ft worth rs 2400 crore in 201415 godrej said the company is looking to add new projects during this fiscal through joint venture with landowners we are exploring opportunities in the cities where we have presence we are also looking at delhincrs micromarkets which include noida he added during 201415 fiscal the company added five new projects with about 8 million sq ft of saleable area godrej properties posted 20 per cent rise in consolidated net profit to rs 19090 crore last fiscal as against rs 15943 crore in the previous financial year total income rose by 54 per cent to rs 192656 crore in 201415 fiscal from rs 125422 crore in the previous year godrej properties the realty firm of the godrej group is currently developing residential commercial and township projects spread across 108 million sq ft in 12 cities