Godrej Properties Reports Stellar Growth: Q4 Sales Up 135% YoY

9 Apr 2024 , 02:49 PM

For the quarter that ended in March, Godrej Properties, the Godrej Group’s real estate development division, recorded 135% year-over-year growth in sales at ₹9,500 Crore. In the fiscal year 2023–2024, the company’s sales increased by 84% to ₹22,500 Crore.

The developer said in a regulatory statement that the result helped them record their best-ever quarterly and yearly sales.

We are happy that the strong 31% volume growth and improving project mix were the main drivers of this revenue growth. We still have a robust launch pipeline for this year, which will be strengthened by our recent debut in the significant Hyderabad market.” according to Gaurav Pandey, MD & CEO, Godrej Properties.

The success of a few significant new project launches drove sales. In the Mumbai Metropolitan Region (MMR), Godrej Reserve recorded a booking value of ₹2,690 Crore, while the Godrej Zenith project in the National Capital Region (NCR) reported a booking value of over ₹3,000 Crore.

The business has increased volume by 31% to 20 million square feet and improved the project mix, resulting in 161% of its booking value target for the year being met. The quarter saw a 56% increase in sales volume to 8.17 million square feet.

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