Godrej Properties, a leading real estate developer in India and part of the Godrej Group, has reported a staggering 84% increase in sales booking in the last financial year. The company achieved a record-breaking sales booking of Rs 22,500 crore, driven by strong consumer demand for residential properties. Surpassing the sales booking numbers of other prominent real estate players like Prestige Group and Macrotech Developers, Godrej Properties has emerged as a frontrunner in the race to gain market share.
While Prestige Group reported pre-sales of Rs 21,040 crore, Macrotech Developers announced sales of Rs 14,520 crore for the previous fiscal year. Godrej Properties attributes its phenomenal sales growth to the sale of 14,310 homes spanning an area of 20 million square feet. This achievement marks the highest-ever annual sales figures by any publicly listed real estate developer in India. The company’s sales bookings in volume terms grew by 56% year-on-year in the January-March quarter of the previous fiscal year, reaching 8.17 million sq. ft. Notable Projects Driving Sales Growth Godrej Zenith, located in Delhi-NCR, emerged as a significant driver of sales growth with a booking value of over Rs 3,000 crore. Similarly, Godrej Reserve, situated in the Mumbai Metropolitan Region, achieved a booking value of Rs 2,690 crore.
The success of these projects can be attributed to superlative consumer demand in key new launches. Optimistic Outlook and Expansion Plans Gaurav Pandey, the MD & CEO of Godrej Properties, expressed delight in the company’s robust growth over the past two years. The sales bookings in the fourth quarter of FY24 surpassed the annual bookings of the previous fiscal year, clocking in at over Rs 9,500 crore. Pandey emphasized that the 84% growth in sales for FY24, totaling more than Rs 22,500 crore, demonstrates a combination of an improving project mix and strong volume growth. Looking ahead, Godrej Properties has a robust launch pipeline for the current fiscal year.
The recent entry into the crucial Hyderabad market is expected to bolster the company’s growth further. With a deep understanding of key real estate markets in India, Godrej Properties is positioned to deliver sustained high-quality performance across all key operating metrics. Conclusion Godrej Properties’ impressive sales booking growth of 84% in FY24 highlights its dominant position in the real estate sector. The company’s record-breaking numbers underscore the strong demand for residential properties in India. With a focus on expanding its presence in key markets and delivering exceptional performance, Godrej Properties is set to reinforce its position as a leading real estate developer in the country.
