Godrej Properties Sets New Sales Record with Rs 28,800 Crore in 2024
Godrej Properties has achieved a record-breaking sales figure of Rs 28,800 crore in 2024, outpacing other leading real estate companies in India. This significant achievement is driven by robust demand across major cities.
Godrej PropertiesReal EstateSales RecordIndiaProperty MarketReal Estate NewsFeb 05, 2025
This remarkable performance places the company at the forefront of the Indian real estate sector, surpassing other major players like DLF, which sold properties worth around Rs 20,650 crore during the same period.
Godrej Properties' success is attributed to the strong demand for its housing projects across multiple cities, particularly in Delhi-NCR, Mumbai Metropolitan Region (MMR), and Bengaluru.
The company's robust sales strategy and high-quality projects have contributed to this outstanding performance.
In an investor presentation, Godrej Properties highlighted that the booking value grew by 69 percent to Rs 28,800 crore from the sale of 26.38 million square feet of area, representing a volume growth of 54 percent.
Pirojsha Godrej, Executive Chairperson of Godrej Properties, stated, 'We have delivered a record-breaking calendar year 2024 with our highest ever bookings, collections, operating cashflows, earnings, and deliveries.'
The Delhi-NCR market contributed the most to pre-sales, with Rs 9,936 crore, followed by the Mumbai Metropolitan Region (MMR) with Rs 9,177 crore, and Bengaluru contributing Rs 5,303 crore.
This distribution underscores the company's strategic focus on key urban centers.
Godrej Properties has been actively launching new projects and expanding its portfolio.
In 2024, the company launched 30 projects, including new phases of existing developments, with a combined sales potential of Rs 34,300 crore.
Additionally, the company delivered 18 million square feet of area, further solidifying its market position.
The company's aggressive land acquisition strategy has also played a crucial role in its success.
In 2024, Godrej Properties acquired 16 land parcels with an estimated revenue potential of Rs 36,250 crore.
This forward-looking approach ensures a strong pipeline of projects for future growth.
On a financial front, Godrej Properties reported a more than 2.5-fold increase in its consolidated net profit to Rs 162.64 crore in the December quarter, driven by higher income and strong housing demand.
The company's net profit for the April-December period of the 2024-25 fiscal year surged to Rs 1,017.90 crore, up from Rs 254.01 crore in the corresponding period of the previous year.
Total income for the first nine months of the fiscal year rose to Rs 4,285.99 crore, up from Rs 2,419.40 crore in the same period last year.
Among the listed entities in the real estate sector, Godrej Properties stands out alongside other major players such as Prestige Estates Projects Ltd, Macrotech Developers, Signature Global, Brigade Enterprises, Oberoi Realty, Sobha Ltd, and Puravankara.
The company's performance sets a new benchmark for the industry and highlights its strong market position.
As the real estate market continues to evolve, Godrej Properties remains committed to delivering high-quality projects and maintaining its leadership in the sector.
The company's strategic initiatives and robust sales performance position it well for sustained growth and success in the years to come.
Frequently Asked Questions
What was the record sales figure achieved by Godrej Properties in 2024?
Godrej Properties achieved a record sales figure of Rs 28,800 crore in 2024.
Which cities contributed the most to Godrej Properties' sales in 2024?
The Delhi-NCR market contributed the most with Rs 9,936 crore, followed by the Mumbai Metropolitan Region (MMR) with Rs 9,177 crore, and Bengaluru with Rs 5,303 crore.
How many new projects did Godrej Properties launch in 2024?
Godrej Properties launched 30 new projects in 2024, including new phases of existing developments, with a combined sales potential of Rs 34,300 crore.
What was the net profit reported by Godrej Properties in the December quarter of 2024?
Godrej Properties reported a net profit of Rs 162.64 crore in the December quarter of 2024, a more than 2.5-fold increase from the previous year.
What is Godrej Properties' approach to land acquisition?
Godrej Properties has an aggressive land acquisition strategy. In 2024, the company acquired 16 land parcels with an estimated revenue potential of Rs 36,250 crore.
Related News Articles
Century Plyboards Ventures into Modular Restroom Solutions with Century Cubicles in Mumbai
Century Plyboards
Medanta Hospital Wins Mhada Auction for 2.2-Acre Oshiwara Plot in Mumbai
Get insights into the bids and developments in Mumbai real estate, as Medanta hospital acquires a 2.2-acre Mhada plot in Oshiwara for Rs 125 crore.
JKRERA's Digital Leap: Boosting Transparency in Jammu and Kashmir's Real Estate Sector
The Jammu and Kashmir Real Estate Regulatory Authority (JKRERA) has launched its official portal to increase transparency in the region's real estate sector.
Deloitte India Expands Mumbai Presence with 81,000 sq ft Office Lease
Deloitte India has leased 81,000 sq ft office space in Mumbai's Goregaon, marking its second major office deal in two months.
Mumbai's Political and Real Estate Turmoil: The Murder of Baba Siddique
The murder of former Maharashtra minister Baba Siddique in Mumbai has sparked various theories, ranging from his close ties to Bollywood superstar Salman Khan to a real estate feud. The case has brought back memories of the violent 1990s in the city.
Residential Real Estate Booms, Ultra-Luxury Sector Slips, Flex Spaces Rise
Mumbai's home sales hit a 13-year high in 2024, while a new report highlights various trends in the real estate market across major Indian cities. The report by Knight Frank India provides a comprehensive overview of residential and office space dynamics.