Godrej Properties sales bookings in FY24 cross ₹22,500 crore, up 84% year-on-year - Hindustan Times
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Godrej Properties sales bookings in FY24 cross 22,500 crore, up 84% year-on-year

Apr 09, 2024 03:30 PM IST

Godrej Properties said that this was achieved through the sale of 14,310 homes with a total area of 20 million square feet

Mumbai-based real estate firm Godrej Properties on April 9 reported a 84% year-on-year increase in sales bookings to a record 22,500 crore on the back of increased housing demand, the company said in a regulatory filing.

Mumbai-based real estate firm Godrej Properties has reported a 84% year-on-year increase in sales bookings to a record <span class='webrupee'>₹</span>22,500 crore on the back of increased housing demand (Picture for representational purposes only)(Pixabay)
Mumbai-based real estate firm Godrej Properties has reported a 84% year-on-year increase in sales bookings to a record 22,500 crore on the back of increased housing demand (Picture for representational purposes only)(Pixabay)

The fourth quarter of FY24 witnessed an increase in booking value by 135% to more than 9,500 crore and FY24 booking value grew by 84% to more than 22,500 crore.

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Also Read: Mumbai-based Godrej Properties sells homes worth over 3,000 crores in Gurugram

GPL achieved 161% of its booking value guidance for FY24 with volume growth of 31% during the year to 20 million sq. ft. and an improved project mix. Sales volume for Q4FY24 grew by 56% to 8.17 million sq ft, the company said.

In a regulatory filing, Godrej Properties said the company has achieved its best ever quarterly and annual sales in the fourth quarter of the last fiscal and for the full 2023-24, respectively.

Also Read: Godrej Properties sells homes worth 2,690 crore in its new project in Mumbai

"This is the highest-ever annual sales announced to date by any publicly listed real estate developer in India. This was achieved through the sale of 14,310 homes with a total area of 20 million square feet," the company said.

Sales were driven by superlative consumer demand in some key new project launches. Godrej Zenith in NCR achieved a booking value of more than 3,000 crore and Godrej Reserve in MMR achieved a booking value of 2,690 crore, it said.

In FY24, four projects (including Godrej Aristocrat launched in Q3 and Godrej Tropical Isle launched in Q2) achieved over 2,000 crore booking value. GPL’s bookings in NCR in FY 24 grew 180% to over 10,000 crore and GPL’s bookings in MMR grew 114% to over 6,500 crore.

“We are delighted with the scale up we have achieved in the past two years. The sales bookings of over 9,500 crore in Q4FY24 surpasses our annual bookings in FY22. We achieved a growth of 84% in FY24 to register bookings of over 22,500 crore. We are pleased that this sales growth was on the back of both an improving project mix as well as strong volume growth of 31%,” said Gaurav Pandey, MD and CEO, Godrej Properties.

Also Read: Godrej Properties acquires a 12.5-acre land parcel in Hyderabad; eyes revenue potential of 3500 crore

The company continues to have a strong launch pipeline for the current year, which will be bolstered by its recent entry into the Hyderabad market.

 

 

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