Godrej Properties Aims to Launch Rs 21,000 Crore Worth of Housing Projects by March 2025
Godrej Properties plans to launch housing projects worth Rs 21,000 crore by March 2025, focusing on Mumbai Metropolitan Region, Delhi-NCR, Bengaluru, Pune, and Hyderabad.
Godrej PropertiesMumbai Metropolitan RegionDelhincrBengaluruPuneHyderabadReal EstateHousing ProjectsReal Estate MumbaiAug 11, 2024
In an interview, Pirojsha Godrej, Executive Chairperson of Godrej Properties, expressed confidence that the company would achieve the targeted sales bookings of Rs 27,000 crore for the current fiscal. He mentioned that the company has already launched around Rs 9,000 crore worth of projects in the first quarter of this fiscal and has a strong launch pipeline for the remaining three quarters.
Godrej Properties mainly focuses on the Mumbai Metropolitan Region (MMR), Delhi-NCR, Bengaluru, Pune, and Hyderabad for group housing projects. It also sells plots in tier II cities. The company's sales bookings jumped 84% to a record Rs 22,527 crore in the last fiscal, the highest among listed realty firms in 2023-24.
In the June quarter, Godrej Properties' sales bookings remained one of the key highlights. The total area sold was 8.9 million square feet, which is the highest quarterly booking volume by any developer in the country. Sales booking value also grew very sharply, almost 300% to around Rs 8,600 crore.
Pirojsha pointed out that sales bookings in the first quarter of 2023-24 were slow, and the company was keen to have a strong start in the current fiscal. Godrej Properties' sales bookings jumped nearly four times to Rs 8,637 crore in the first quarter of this fiscal against Rs 2,254 crore in the year-ago period.
This is the company's highest-ever quarterly sales for the June quarter and its second-highest quarterly sales ever. Demand is looking amazing, and the company has seen two record quarters in a row, according to Pirojsha.
Recently, Godrej Properties reported a more than four-fold jump in consolidated net profit to Rs 520.05 crore in the first quarter of this fiscal year. The total income grew to Rs 1,699.48 crore during April-June 2024-25 from Rs 1,265.98 crore in the corresponding period of the previous year.
About Godrej Properties
Godrej Properties is a leading real estate developer in India, with a strong presence in the Mumbai Metropolitan Region, Delhi-NCR, Bengaluru, Pune, and Hyderabad. The company focuses on developing residential, commercial, and township projects.
Information
Godrej Properties is part of the Godrej Group, one of India's largest and most respected business conglomerates. The company has a strong track record of delivering high-quality projects and has received numerous awards and recognition for its work.
Godrej Properties is a subsidiary of Godrej Industries Ltd, which is part of the Godrej Group. The company is listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).
Frequently Asked Questions
What is Godrej Properties' target for sales bookings this fiscal?
Godrej Properties is targeting sales bookings of Rs 27,000 crore for the current fiscal.
How much worth of housing projects is Godrej Properties planning to launch by March 2025?
Godrej Properties is planning to launch housing projects worth Rs 21,000 crore by March 2025.
What is Godrej Properties' focus area for group housing projects?
Godrej Properties mainly focuses on the Mumbai Metropolitan Region (MMR), Delhi-NCR, Bengaluru, Pune, and Hyderabad for group housing projects.
How did Godrej Properties' sales bookings perform in the June quarter?
Godrej Properties' sales bookings jumped nearly four times to Rs 8,637 crore in the first quarter of this fiscal against Rs 2,254 crore in the year-ago period.
What is Godrej Properties' highest-ever quarterly sales for the June quarter?
Godrej Properties' highest-ever quarterly sales for the June quarter is Rs 8,637 crore.
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