Godrej Properties' March quarter sales up y-o-y by 135%

6 May 2024 , 11:38 AM

Godrej Properties, the real estate arm of the Godrej Group, saw a significant surge in sales for the quarter ended March. Sales for Q4 reached ₹9,500 Crore, marking a remarkable 135% year-on-year growth.

The company’s sales for the entire financial year 2023-24 rose by 84% to ₹22,500 Crore. This performance led to Godrej Properties achieving its best-ever quarterly and annual sales figures, as per regulatory filings.

Gaurav Pandey, MD & CEO of Godrej Properties, attributed the sales growth to an improving project mix and a robust volume growth of 31%. The company has a strong launch pipeline for the current year and recently entered the Hyderabad market.

Key project launches such as Godrej Zenith in NCR and Godrej Reserve in Mumbai Metropolitan Region (MMR) drove sales, with booking values exceeding ₹3,000 Crore and ₹2,690 Crore respectively.

Godrej Properties achieved 161% of its booking value guidance for the year, with a 31% increase in sales volume to 20 million sq ft and an enhanced project mix. Sales volume during the quarter increased by 56% to 8.17 million sq ft.

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