Mumbai Metropolitan Region's Real Estate Market Gains Traction for Leading Developers
The Mumbai Metropolitan Region (MMR) is witnessing a significant boost in residential sales, benefiting select listed real estate developers such as Macrotech Developers Ltd (Lodha) and Godrej Properties Ltd.
Real EstateMumbai Metropolitan RegionMacrotech DevelopersGodrej PropertiesPresalesReal Estate NewsFeb 12, 2025
In January, the number of housing units registered in MMR increased by 12% year-on-year to 12,249, marking the best-ever registrations for the month, according to government data compiled by Nuvama Research.
The value of these units surged by 31% year-on-year to around ₹16,600 crore.
Macrotech Developers Ltd (Lodha) and Godrej Properties Ltd are among the key beneficiaries of this trend, even as they continue to expand into new geographies.
Both companies are on track to meet and potentially exceed their FY25 pre-sales guidance, driven by a series of new launches.
Godrej Properties has achieved pre-sales of ₹19,281 crore in the nine months to December (9MFY25), marking a 48% year-on-year increase.
This is the highest-ever nine-month sales for Godrej.
MMR bookings for Godrej more than doubled (up 104%) to ₹5,155 crore in 9MFY25.
In the December quarter (Q3FY25), Godrej launched seven new projects and phases across four cities.
The company plans to launch additional projects in MMR, including sites in Vashi, Bhandup, Carmichael Road, and a new phase in Godrej Reserve in Q4.
The Worli project is likely to be launched in FY26.
Godrej’s management is optimistic and expects a pre-sales run-rate of ₹7,700 crore in Q4FY25.
Rival Lodha has set an FY25 pre-sales target of ₹17,500 crore and has already clocked pre-sales of ₹12,820 crore in 9MFY25.
The high-value markets of south and central Mumbai, along with the Western suburbs, have led pre-sales growth for Lodha in Q3FY25.
The company aims to increase its market share in Mumbai to 20% by FY30, up from 10% in FY24.
Lodha launched five new projects in the last quarter, aggregating 2.7 million square feet with a gross development value (GDV) of ₹4,180 crore.
The management is now targeting launches of ₹7,500 crore in Q4FY25, which should take total FY25 launches to ₹18,000 crore, surpassing the initial guidance of ₹12,000 crore.
According to Nomura Global Markets Research, “The management’s guidance implies Macrotech Developers achieving ₹4,700 crore of pre-sales in Q4FY25E (+10% year-on-year).
As such, the company has to sell about 15% of its pipeline in order to reach its pre-sales target, which we think is comfortable.
Frequently Asked Questions
What is the current performance of residential sales in the Mumbai Metropolitan Region (MMR)?
In January, the number of housing units registered in MMR rose by 12% year-on-year to 12,249, marking the best-ever registrations for the month. The value of these units surged by 31% year-on-year to around ₹16,600 crore.
Which companies are the main beneficiaries of the real estate boom in MMR?
Macrotech Developers Ltd (Lodha) and Godrej Properties Ltd are among the key beneficiaries of the real estate boom in the Mumbai Metropolitan Region (MMR).
What is Godrej Properties' performance in the nine months to December (9MFY25)?
Godrej Properties achieved pre-sales of ₹19,281 crore in the nine months to December (9MFY25), marking a 48% year-on-year increase. This is the highest-ever nine-month sales for Godrej.
What are the new projects and phases launched by Godrej in the December quarter (Q3FY25)?
In the December quarter (Q3FY25), Godrej launched seven new projects and phases across four cities. The company plans to launch additional projects in MMR, including sites in Vashi, Bhandup, Carmichael Road, and a new phase in Godrej Reserve in Q4.
What is Lodha's market share goal in Mumbai and what are their recent launches?
Lodha aims to increase its market share in Mumbai to 20% by FY30, up from 10% in FY24. In the last quarter, Lodha launched five new projects, aggregating 2.7 million square feet with a gross development value (GDV) of ₹4,180 crore.
Related News Articles
Gaikwad Leads Maharashtra's Impressive Show in Ranji Trophy Group A
Maharashtra's strong reply against Mumbai in the Ranji Trophy Group A match, led by Gaikwad's brilliant performance, has set the stage for an exciting cricketing showdown.
Godrej Properties Sells Rs 1000 Crore Worth of 90 Luxury Homes in Gurugram; Stock in Focus
Shares of Godrej Properties are in focus after the real estate developer announced the successful sale of 90 luxury homes worth over Rs 1,000 crore in Gurugram. This significant achievement highlights the growing demand for high-end residential properties in the region.
Century Real Estate Set to Develop 8 New Housing Projects in Bangalore
Century Real Estate has announced ambitious plans to construct eight new housing projects in Bangalore, aiming to meet the growing demand for residential spaces in the city.
Maha RERA to Appoint Retired Tehsildars for Recovery in Mumbai
The Maharashtra Real Estate Regulatory Authority (MahaRERA) is set to appoint retired Tehsildars to aid in the recovery of funds and resolve disputes in Mumbai and Pune.
Orient Technologies IPO: A Detailed Analysis of the Cement Maker's Public Offering
Indian cement makers have seen a surge in demand due to increased infrastructure spending and a booming real estate sector. Here's a detailed look at Orient Technologies' IPO
Free Gaza or Gaza for Free? Trump’s Real Estate Interest
Sen. Marco Rubio was traveling in Guatemala when he first heard about the idea while watching Donald Trump’s news conference on TV, according to a CNN report. Trump’s interest in the Gaza Strip has raised eyebrows, especially given his background in real