Godrej Properties Achieves Record Sales of Rs 2,600 Crore in Gurugram Luxury Project

26 Dec 2023 , 01:06 PM

Godrej Properties announces the sale of 600+ flats in its luxury housing project, Godrej Aristocrat, in Gurugram, Haryana. The regulatory filing states sales exceeding Rs 2,600 crore for the 9.5-acre project located in Sector 49 on Golf Course Extension Road.

The housing project will feature the development of nearly 750 apartments, with a starting price of around Rs 4 crore per unit.

Godrej Aristocrat marks the company’s most successful launch in terms of sales value, surpassing the previous best of over Rs 2,000 crore at Godrej Tropical Isle in Noida.

MD & CEO Gaurav Pandey emphasizes the significance of Gurugram as a key market for Godrej Properties. The company plans to launch four new projects in Gurugram in 2024.

During April-September 2023-24, Godrej Properties achieves a 48 % growth in sales booking, reaching Rs 7,288 crore. The Delhi-NCR market contributes Rs 3,186 crore to the total sales booking during this period.

Pirojsha Godrej, Executive Chairperson, highlights upcoming launches in Noida, Gurugram, and Ashok Vihar, Delhi.  Godrej Properties maintains an aggressive launch pipeline in the second half of the fiscal year, focusing on Delhi-NCR, Mumbai Metropolitan Region (MMR), Pune, and Bengaluru.

Pirojsha expresses confidence in meeting the target to sell properties worth Rs 14,000 crore in the current fiscal year, citing strong demand. The company had achieved sales worth Rs 12,232 crore in the previous fiscal.

Financially, Godrej Properties reports a 22 % rise in consolidated net profit to Rs 66.80 crore during the September quarter FY24, with total income reaching Rs 605.11 crore.

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