Dedicated locality research platform
Enter your email address and you will receive
a link to reset your password
Godrej Properties Limited (GPL) announced record quarterly and annual sales in Q4 FY24 and FY24 respectively. Booking value in Q4 FY24 grew 135% to over INR 9,500 crore, while booking value for FY24 grew 84% to more than INR 22,500 crore. GPL achieved 161% of its FY24 booking value guidance with 31% volume growth to 20 million square feet and an improved project mix. Sales volume for Q4FY24 increased 56% to 8.17 million square feet.
Godrej Properties has surpassed the annual sales bookings of Bengaluru-based Prestige Group. Macrotech Developers reported sales of INR 14,520 crore in the previous fiscal, while DLF is yet to announce its numbers. These four builders are in the race for gaining market share by expanding across markets throughout the country.
Sales were driven by strong demand for key new project launches like Godrej Zenith in NCR, which achieved over INR 3,000 crore in bookings, and Godrej Reserve in Mumbai's Kandivali, which achieved INR 2,690 crore. Both were the best ever launches for GPL in their respective markets.
In FY24, 4 projects including Godrej Aristocrat and Godrej Tropical Isle achieved over INR 2,000 crore in bookings. Bookings in NCR grew 180% to over INR 10,000 crore while bookings in MMR grew 114% to INR 6,500 crore.
Gaurav Pandey, MD & CEO of Godrej Properties, said the company is delighted with the scale up achieved in the past two years, with Q4FY24 bookings surpassing annual bookings for FY22. He noted the 84% growth in FY24 bookings to over INR 22,500 crore was backed by improved project mix and 31% volume growth.
Pandey thanked customers and stakeholders for their trust. He added GPL has a strong pipeline for the current year, which will be further strengthened by its recent entry into the Hyderabad market. Godrej Properties had entered the Hyderabad real estate market by acquiring 12.5 acres in Rajendra Nagar with an expected 4 million sq. ft. saleable area focusing on premium residential apartments. The Hyderabad project has an estimated revenue potential of INR 3,500 crore.
In conclusion, with continued growth in key markets like NCR and MMR, along with expansion to new cities like Hyderabad, Godrej Properties is well positioned for further sales growth in the current fiscal year. The company will look to build on this success while delivering value to its customers and stakeholders.
Propscience is India’s dedicated property news portal. We cover the latest events, news, trends, deals, new launches and more.
All our services and tools are completely free of cost and available 24X7!
We use cookies to give you the best possible service while using our website, please click accept and carry on browsing if you're happy with this. For more information see our Privacy Policy.
Okay, Got it!This disclaimer ("Disclaimer") is applicable to the entire Site. Upon entering the Site it is recommended that you immediately read the Terms and Conditions and Privacy Policy listed therein. Your continued usage of this Site will indicate your unconditional acceptance of the said Terms and Conditions and Privacy Policy. You hereby agree that Propscience reserves the right to modify at any time, the Terms and Conditions and Privacy Policy governing this Site without prior notification. Your usage of the Site implies that you will be bound by any such modification. You agree and acknowledge that it is your responsibility to periodically visit the Site and stay updated with the Terms and Conditions and Privacy Policy of the Website.
The information contained in this Site has been provided by Propscience for information purposes only. This information does not constitute legal, professional or commercial advice. Communication, content and material within the Site may include photographs and conceptual representations of projects under development. All computer-generated images shown on the Site are only indicative of actual designs and are sourced from third party sites.
The information on this Site may contain certain technical inaccuracies and typographical errors. Any errors or omissions brought to the attention of Propscience will be corrected as soon as possible. The content of this Site is being constantly modified to meet the terms, stipulations and recommendations of the Real Estate Regulation Act, 2016 ("RERA") and rules made thereunder and may vary from the content available as of date. All content may be updated from time to time and may at times be out of date. Propscience accepts no responsibility for keeping the information in this website up to date or any liability whatsoever for any failure to do so.
While every care has been taken to ensure that the content is useful, reliable and accurate, all content and information on the Site is provided on an "as is" and "as available" basis. Propscience does not accept any responsibility or liability with regard to the content, accuracy, legality and reliability of the information provided herein, or, for any loss or damage caused arising directly or indirectly in connection with reliance on the use of such information. No information given under this Site creates a warranty or expands the scope of any warranty that cannot be disclaimed under applicable law.
This Site provides links to other websites owned by third parties. Any reference or mention to third party websites, projects or services is for purely informational purposes only. This information does not constitute either an endorsement or a recommendation. Propscience accepts no responsibility for the content, reliability and information provided on these third-party websites. Propscience will not be held liable for any personal information of data collected by these third parties or for any virus or destructive properties that may be present on these third-party sites.
Your use of the Site is solely at your own risk. You agree and acknowledge that you are solely responsible for any action you take based upon this content and that Propscience is not liable for the same. All details regarding a project/property provided on this Site are updated on the basis of information available from the respective developers/owners/promoters. All such information will not be construed as an advertisement. To find out more about a project / development, please register/contact us to visit the site you are interested in. All decisions taken by you in this regard will be taken independently and Propscience will not be liable for any such loss in connection with the same. This Site is for guidance only. Your use of this Site - including any suggestions set out in the Site and or any use of the resources available on this Site, do not create any professional - client relationship between you and Propscience. Propscience cannot accept you as a client until certain formalities and requirements are met.
We use cookies to give you the best possible service while using our website, please accept it and continue browsing if you're happy with this. For more information see our Privacy Policy