Godrej Properties sales bookings up 84% in FY24 to ₹22,500 crore
NEW DELHI: Realty firm Godrej Properties on Tuesday reported a 84% increase in sales booking to a record ₹22,500 crore in the last financial year, on higher volumes amid strong consumer demand for residential properties.
Godrej Properties has surpassed the sales booking numbers of Bengaluru-based Prestige Group, which on Monday reported pre-sales of ₹21,040 crore during the last fiscal year.
Macrotech Developers has reported sales of ₹14,520 crore in the previous fiscal. DLF is yet to announce its numbers.
These four listed entities are in the race to gain market share.
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.
During the fourth quarter of the last fiscal, Godrej Properties’ sales bookings more than doubled to over ₹9,500 crore yearon-year (y-o-y).
Its sales bookings during the last fiscal grew by 84% y-o-y to more than ₹22,500 crore.
“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.
Godrej Properties said the company’s sales bookings in volume terms grew by 56% y-o-y in the January-March quarter of the last fiscal to 8.17 million sq. ft. The company’s sales bookings rose 31% year-on-year during the entire last fiscal to 20 million square feet.
“Sales were driven by superlative consumer demand in some key new project launches,” Godrej Properties said.