Godrej and Macrotech Realtors Achieve Stellar Sales of Over Rs 22,000 Crore in H1 2024

Two of India's leading real estate firms, Godrej Properties and Macrotech Developers, have reported combined sales bookings of Rs 22,120 crore during April-September 2024, marking a 56% year-on-year growth. The majority of these sales were in housing unit

Godrej PropertiesMacrotech DevelopersReal EstateSales BookingsHousing MarketReal Estate MumbaiOct 06, 2024

Godrej and Macrotech Realtors Achieve Stellar Sales of Over Rs 22,000 Crore in H1 2024

Real Estate Mumbai:Godrej Properties and Macrotech Developers, two of India's prominent real estate firms, have reported impressive sales in the first half of the 2024 fiscal year. The combined sales bookings of these Mumbai-based firms stood at Rs 22,120 crore during April-September, a significant 56% increase from the Rs 14,178 crore recorded in the same period last year. The majority of these sales were in housing units.\n\nGodrej Properties, which markets its projects under the Godrej brand, sold properties worth over Rs 13,800 crore during H1 2024, representing an 89% year-on-year growth from Rs 7,288 crore in the same period last year. Macrotech Developers, known for its 'Lodha' brand, reported a 21% annual growth in sales bookings to Rs 8,320 crore, up from Rs 6,890 crore in the year-ago period.\n\nGaurav Pandey, MD and CEO of Godrej Properties, expressed his delight with the company's performance. 'We are delighted with the scale-up we have achieved in the past couple of years. The sales bookings of over Rs 13,800 crore in H1 of FY25 surpass our annual bookings in FY23,' he said. This growth is attributed to an improving project mix and strong volume growth.\n\nGodrej Properties is a leading real estate developer in India, with a strong presence in major cities such as Delhi-NCR, Mumbai Metropolitan Region, Pune, and Bengaluru. The company has also recently entered the Hyderabad market. Macrotech Developers, formerly known as Lodha Developers, operates in the Mumbai Metropolitan Region (MMR), Pune, and Bengaluru.\n\nThe housing market in India has been performing exceptionally well post-pandemic, driven by pent-up demand, a growing appetite for home ownership, and the overall economic growth. The strong demand for residential properties, particularly luxury homes, has led to a sharp appreciation in capital values. Despite the rise in prices, the sales momentum remains robust.\n\nPost-pandemic, consumer demand has shifted towards reputable builders with a better track record of project execution. Almost all listed real estate players are reporting strong sales. Industry experts anticipate a flurry of launches and robust sales during the current festive quarter.\n\nBoth Godrej Properties and Macrotech Developers are confident about meeting their sales targets for the 2024-25 financial year. Godrej Properties has set a target of Rs 27,500 crore in sales bookings, while Macrotech Developers aims to achieve Rs 17,500 crore. Macrotech Developers has already achieved 21% annual pre-sales growth in the first half and is on track to meet its full-year guidance of 20% pre-sales growth.\n\nGodrej Properties became the largest listed real estate firm in terms of sales bookings during the 2023-24 fiscal year, with sales bookings jumping 84% to a record Rs 22,527 crore from Rs 12,232 crore in the preceding year. Macrotech Developers also reported a 20% growth in sales bookings to a record Rs 14,520 crore against Rs 12,060 crore in the previous year.

Frequently Asked Questions

What is the total combined sales booking value of Godrej Properties and Macrotech Developers for April-September 2024?

The total combined sales booking value of Godrej Properties and Macrotech Developers for April-September 2024 is Rs 22,120 crore.

How much has Godrej Properties sold in terms of sales booking value during H1 2024?

Godrej Properties sold properties worth over Rs 13,800 crore during H1 2024.

What is the growth percentage of Macrotech Developers' sales bookings in the first half of 2024 compared to the same period last year?

Macrotech Developers' sales bookings grew by 21% in the first half of 2024 compared to the same period last year.

What are the sales targets set by Godrej Properties and Macrotech Developers for the 2024-25 financial year?

Godrej Properties has set a target of Rs 27,500 crore in sales bookings, while Macrotech Developers aims to achieve Rs 17,500 crore for the 2024-25 financial year.

What factors are driving the strong demand for residential properties in India post-pandemic?

The strong demand for residential properties in India post-pandemic is driven by pent-up demand, a growing appetite for home ownership, and the overall economic growth, particularly in the luxury home segment.

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