Godrej Properties Sales Bookings to Reach Rs 18k Cr, Exceeding FY24 Guidance
By Bricksnwall | 2024-02-12
Godrej Group's real estate division sold properties for Rs 12,232 crore in
2022–2023 and predicted sales of Rs 14,000 crore for the current fiscal year.
Due to the
high demand for its residential projects, Godrej Properties' sale bookings are
predicted to surpass the annual guideline by 50% and reach over Rs 18,000 crore
this fiscal year.
Chairperson Pirojsha Godrej stated in an interview with PTI that the business
hopes to replicate the record of the previous two quarters by selling
properties valued at more than Rs 5,000 crore between January and March of this
Group's real estate division sold homes for Rs 12,232 crore in 2022–2023 and
projected sales of Rs 14,000 crore for the current fiscal year.
first nine months of this fiscal year, we have already surpassed last year's
booking total and anticipate exceeding our full-year projection
significantly." From a practical perspective,
generally pleased with how things are progressing and anticipate a successful
conclusion to this fiscal year," said Pirojsha.
past two quarters, we have booked sales of over Rs 5,000 crore. The company has
a solid launch pipeline for this quarter, he continued, adding, "We hope
to do that again in the fourth quarter."
Properties' sale bookings increased by 59% to Rs 13,008 crore from April to
December of this fiscal year, compared to Rs 8,181 crore during the same period
last year, driven by a strong demand for housing.
current quarter, the company hopes to sell homes valued at over Rs 5,000 crore,
which would bring the total sale bookings for 2023–24 to over Rs 18,000 crore.
We have seen
our biggest quarterly revenues in the history of the company for the fourth
time in the last five quarters. I believe it to be a positive indicator of the
market's general momentum," Pirojsha remarked.
that the last three years had seen a robust housing market and that the real
estate cycle would only get stronger in the next years.
In terms of
finances, Godrej Properties stated that sales booking increased and that
consolidated net profit increased by 11% to Rs 62.72 crore for the December
In the third
quarter of this fiscal year, total income increased to Rs 548.31 crore from Rs
404.58 crore during the same period last year.
One of the
top companies in the nation for real estate is Godrej Properties. The
Delhi-NCR, Bengaluru, Pune, and Mumbai Metropolitan Region (MMR) are its main
to working directly with landlords to build real estate developments, it
purchases land entirely.
Source: Business Standard