'Currently around 100 million square feet property is being developed across the country. The focus will be on developing residential properties,' said Godrej.

Godrej Properties will soon start building a residential apartment on 12.5 acre plot near here.

On the 3,500-acre property the company owns at Vikhroli in Mumbai, he said: 'We will be building iconic residential, commercial buildings there.'

Godrej declined to disclose the amount Godrej Properties is expecting to raise from the IPO.

While the group has moved some of its plants out of Mumbai to Himachal Pradesh due to tax benefits, Godrej said there was no move to reduce the number of plants. The group now has around 100 plants.

'On the other hand, the number may go up as Godrej Agrovet operating in the animal feed business will be setting up new facilities near its markets,' he added.