Godrej Properties sales bookings up by 56% in the March quarter

According to data recently published by the company, Godrej Properties has reported Rs 14.051 crores in bookings for the March quarter which brings its FY23 total to 12.232 crores, up by 56% and more than a fifth ahead of the annual guidance. Sales volumes increased by 19% sequentially to 5.25 million sq. ft. for the quarter from 4.12 million sq. ft. Sales volumes increased 40% over the course of the year from 10.84 million sq. ft. to 15.21 million sq. ft.

Cash receipts for the developer increased by 41% to 8,991 crores while those for the March quarter increased by 52% to 3,822 crores marking a sequential gain of 127%. Both the fiscal year and the quarter saw the highest project deliveries ever for the business. The developer completed projects totalling more than 10 million sq. ft. across five cities in 2022-23 comprising 76 million sq. ft. in the last quarter.

The company also had its best-ever year for business growth as a result of the addition of 18 new projects which together had an estimated total saleable area of roughly 29 million square feet and an anticipated total booking value of £32,000 crore. The company is expected to surpass its own projection of adding projects to its development portfolio during the fiscal year with a total revenue potential of over 15,000 crores.

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Godrej Properties sales bookings up by 56% in the March quarter

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