Godrej Properties sells over 2,000 homes worth more than ₹3,150 crore in Bengaluru

Mumbai-based Godrej Properties has sold over 2,000 homes worth more than ₹3,150 crore during a project launch in Bengaluru

Published on: Jul 2, 2024, 11:38:42 IST

By HT News Desk

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Mumbai-based real estate developer Godrej Properties has sold over 2,000 homes worth more than ₹3,150 crore at a project in Bengaluru’s Whitefield, the company said in a regulatory filing on July 2.

Mumbai-based Godrej Properties has sold over 2,000 homes worth more than ₹3,150 crore in Bengaluru (Representational photo) (Pexel)

The Mumbai-based real estate developer said that it has sold over 3.4 million square feet of area in Godrej Woodscapes, located in East Bengaluru’s Whitefield, making it its best ever launch sales during the April-June period of 2024, both by value and volume.

With this launch, Godrej Properties has achieved over 500% quarter-on-quarter growth in sales within Bengaluru and surpassed its full year FY24 sales in South India within the first quarter, the company said in its statement.

Also read: Why are real estate developers making a beeline for Mumbai and Bengaluru markets?

“We are delighted with the response to our project, Godrej Woodscapes…South India is an extremely important region for Godrej Properties, and we aim to further strengthen our presence in the coming years,” said Gaurav Pandey, MD and CEO, Godrej Properties.

Godrej Woodscapes marks the second launch with ₹2000-plus crore sales for Godrej Properties in the June quarter of financial year 2024-25. It is also the sixth launch in the last four quarters to have sold inventory of over ₹2,000 crore during launch, the company said. The past projects include two in Noida and Gurugram each, and one in Kandivali of Mumbai Metropolitan Region.

Also read: Godrej Properties acquires rights on 11-acre land in Pune; to develop housing and high-street project worth ₹1,800 cr

With several projects in the launch pipeline for Bengaluru this fiscal, along with a strategic market entry into Hyderabad, Godrej properties hopes to strengthen its presence in South India, the company said.

The company on July 1 announced the acquisition of a 7-acre land parcel in North Bengaluru’s Thanisandra to construct a premium housing project with an estimated developable potential of about 9 lakh square feet and a revenue potential of around ₹1,200 crore.

Also read: Godrej Properties acquires a 7-acre land parcel in Bengaluru to construct a housing project worth ₹1,200 crore

In the financial year 2023-24, Godrej Properties reported bookings to the tune of ₹22,527 crore and provided a guidance of bookings worth ₹27,000 crore for the ongoing fiscal.

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HT News Desk
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