In Short:
Godrej Properties had a successful year in FY24, with half of their sales coming from NCR and 29% from MMR. Bookings of ₹22,500 crore were 61% higher than expected. The company is expanding rapidly across major cities in India, with NCR bookings up 180% and MMR up 114%. Quarterly sales were driven by new launches in NCR and MMR. CEO Gaurav Pandey credits sales growth to a strong project mix and volume growth, with plans for further expansion in Hyderabad.
Godrej Properties Achieves Record Sales in FY24
Guess who’s been killing it in the real estate game? Yep, you guessed it – **Godrej Properties**! The Mumbai-based developer has been knocking it out of the park, with nearly half of their sales in FY24 coming from the National Capital Region (NCR). And let’s not forget the Mumbai Metropolitan Region (MMR), which contributed 29 per cent of the total bookings of ₹22,500 crore. That’s a whopping 61 per cent higher than their original guidance. Talk about exceeding expectations!
Expanding Horizons
Godrej Properties is not just limited to Mumbai and NCR. Nope, they are spreading their wings and soaring high in other cities as well. In FY24, bookings from NCR shot up by 180 per cent to over ₹10,000 crore, while bookings from MMR rose by 114 per cent to over ₹6,500 crore. This Mumbai-based developer is definitely making waves in the real estate market!
Impressive Stats
The numbers speak for themselves – Godrej Properties sold 14,310 homes occupying a whopping 20 million square feet of space. And the best part? It’s up by 31 per cent compared to last year. In terms of value, it’s a staggering 84 per cent increase. With a presence in ten cities, including hotspots like Nagpur and Kochi, Godrej Properties is making a name for itself nationwide.
Breaking Records
In the fourth quarter of FY24, the company reported selling 5,331 houses totaling a value of ₹9,500 crore – a massive 135 per cent increase from the previous year. The total area sold was 8.17 million square feet, up by 56 per cent. It’s safe to say that Godrej Properties is on fire!
Future Plans
According to **Godrej Properties**’ MD & CEO, Gaurav Pandey, the secret to their success lies in an improving project mix and strong volume growth. With a promising launch pipeline for the current year, including their recent entry into the Hyderabad market, the future looks bright for this real estate powerhouse. Watch out world, here comes Godrej Properties!
