Godrej Properties Plans Mega ₹30,000 Cr Residential Projects

 

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Synopsis:

Godrej Properties aims to launch residential projects worth ₹30,000 crore this fiscal to achieve a 20% sales growth from the high base of FY 2023-24. The company reported record sales bookings of ₹22,527 crore in the last fiscal, with plans to tap into strong housing demand across major cities. With an emphasis on acquisitions, project deliveries, and future developments, Godrej Properties aims to sustain its momentum in the real estate sector.

Godrej Properties News Today

Godrej Properties, led by Executive Chairperson Pirojsha Godrej, intends to launch residential projects totalling ₹30,000 crore in the current fiscal year. This ambitious endeavour aims to achieve a 20% growth in sales bookings, building upon the company's strong performance in the preceding year.

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Record Sales Bookings and Fiscal Performance

In FY20 23-24, Godrej Properties witnessed a remarkable 84% surge in sales bookings, reaching a record-breaking ₹22,527 crore. This exceptional performance solidified its position as the largest publicly listed real estate developer in India by sales for the fiscal year.

Expansion Strategy and Market Focus

To capitalise on robust housing demand, the company plans to launch multiple projects across major cities including Delhi-NCR, Mumbai-Metropolitan Region (MMR), Bengaluru, Pune, and Hyderabad. The focus remains on reputed brands and tapping into the sustained housing demand in the coming years.

Financial Highlights and Future Targets

Godrej Properties reported its highest-ever quarterly profit, with earnings soaring by 14% annually to ₹471.26 crore in the March quarter. For the entire fiscal year, the company's net profit surged to ₹725.27 crore, with total income reaching ₹4,334.22 crore. The company aims to scale up project deliveries to 15 million square feet in FY 2024-25, further strengthening its market presence.

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