Godrej Properties and Macrotech Developers Achieve Rs 22,000 Crore Property Sales in 6 Months

India's leading real estate firms, Godrej Properties and Macrotech Developers, have reported impressive sales of over Rs 22,000 crore in the first half of the current fiscal year, riding high on the demand for premium housing units.

Real EstateProperty SalesGodrej PropertiesMacrotech DevelopersMumbai Real EstateReal Estate NewsOct 06, 2024

Godrej Properties and Macrotech Developers Achieve Rs 22,000 Crore Property Sales in 6 Months

Real Estate News:India's two leading real estate firms, Godrej Properties and Macrotech Developers, have reported staggering property sales worth over Rs 22,000 crore during the April-September period of the current fiscal year. This marks a 56% annual increase, driven by strong demand for premium homes.\n\nGodrej Properties, known for its projects under the Godrej brand, has achieved sales bookings of over Rs 13,800 crore. Macrotech Developers, which markets its properties under the 'Lodha' brand, reported sales bookings of Rs 8,320 crore. The combined sales bookings of both Mumbai-based firms stood at Rs 22,120 crore, a significant jump from Rs 14,178 crore in the same period last year.\n\nAccording to the latest operational update, Godrej Properties' sales booking value grew by 89% year-on-year to over Rs 13,800 crore during April-September 2024, up from Rs 7,288 crore in the year-ago period. Macrotech Developers reported a 21% annual growth in its sales bookings to Rs 8,320 crore, compared to Rs 6,890 crore in the previous year.\n\nGodrej Properties has achieved its highest-ever H1 sales booking value, setting a strong pace for the fiscal year. Both companies have expressed confidence in meeting their sales targets for the 2024-25 financial year. Godrej Properties has set a target of Rs 27,500 crore worth of sales bookings, while Macrotech Developers aims for Rs 17,500 crore.\n\nGodrej Properties has been the largest listed real estate firm in terms of sales bookings during the 2023-24 fiscal, with sales jumping 84% to a record Rs 22,527 crore from Rs 12,232 crore in the preceding year. Macrotech Developers also registered a 20% growth in sales bookings to Rs 14,520 crore, up from Rs 12,060 crore a year ago.\n\nWith 21% annual pre-sales growth in the first half and the festive season underway, Macrotech Developers is confident about meeting its full-year guidance of 20% pre-sales growth. Godrej Properties' MD and CEO, Gaurav Pandey, expressed delight at the scale-up achieved in the past couple of years. He noted that the sales growth was driven by an improving project mix and strong volume growth.\n\nGodrej Properties is a leading real estate developer in India, with a strong presence in Delhi-NCR, Mumbai Metropolitan Region (MMR), Pune, and Bengaluru. The company recently expanded into the Hyderabad market. Macrotech Developers, formerly known as Lodha Developers, has a significant presence in MMR, Pune, and Bengaluru.\n\nThe housing market has seen a significant recovery post-COVID, driven by pent-up demand, a growing appetite for home ownership, and robust economic growth. This has led to a sharp appreciation in capital values, especially for luxury homes. Despite rising prices, the sales momentum remains strong, with consumer demand increasingly favoring reputed builders with a proven track record in project execution.\n\nIndustry experts anticipate a flurry of launches and strong sales during the current festive quarter, further boosting the market's performance.

Frequently Asked Questions

What is the total sales booking value of Godrej Properties and Macrotech Developers in the first half of the 2024-25 fiscal year?

The combined sales booking value of Godrej Properties and Macrotech Developers in the first half of the 2024-25 fiscal year is Rs 22,120 crore.

How much did Godrej Properties' sales booking value grow year-on-year during April-September 2024?

Godrej Properties' sales booking value grew by 89% year-on-year during April-September 2024.

What is the target sales booking value for Godrej Properties for the full fiscal year 2024-25?

Godrej Properties has set a target sales booking value of Rs 27,500 crore for the full fiscal year 2024-25.

How much did Macrotech Developers' sales bookings grow year-on-year during April-September 2024?

Macrotech Developers' sales bookings grew by 21% year-on-year during April-September 2024.

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

The strong demand for residential properties in India post-COVID is driven by pent-up demand, a growing appetite for home ownership, and robust economic growth. This has led to a sharp appreciation in capital values, especially for luxury homes.

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