Godrej Properties to Launch ₹21,000 Crore Worth of Housing Projects by March

Godrej Properties plans to launch residential projects worth ₹21,000 crore by March in key cities to tap into strong consumer demand.

Executive Chairperson Pirojsha Godrej shared in an interview that the company is confident of achieving its goal of ₹27,000 crore in sales bookings for this fiscal year. Last fiscal year, Godrej Properties’ sales bookings surged by 84%, reaching a record ₹22,527 crore—the highest among listed real estate companies in 2023-24.

Asked about the launch pipeline, Pirojsha said, “We are targeting to launch projects worth ₹30,000 crore this fiscal year. We have already launched around ₹9,000 crore worth of projects in the first quarter of this fiscal.” The launch pipeline for the remaining 3 quarters is strong, he said.

Godrej Properties primarily focuses on group housing projects in the Mumbai Metropolitan Region (MMR), Delhi-NCR, Bengaluru, Pune, and Hyderabad while selling plots in tier II cities. When asked about the June quarter, Pirojsha Godrej highlighted that strong sales bookings were a key achievement.

A total of 8.9 million square feet was sold, marking the highest quarterly booking volume by any developer in the country. The value of sales bookings saw a sharp increase, almost tripling to around ₹8,600 crore. Pirojsha noted that sales bookings in the first quarter of 2023-24 were slow, so the company was eager to start the current fiscal year strong.

Godrej Properties’ sales bookings soared nearly 4 times to ₹8,637 crore in the first quarter of this fiscal year, compared to ₹2,254 crore in the same period last year. This marks the company’s highest-ever sales for a June quarter and its second-highest quarterly sales overall. “Demand is incredible. We’ve had two record quarters in a row,” said Pirojsha.

Financial Highlights

Godrej Properties reported a more than four-fold increase in consolidated net profit, reaching ₹520.05 crore in the first quarter of this fiscal year. Total income rose to ₹1,699.48 crore during April-June 2024-25, up from ₹1,265.98 crore in the same period last year.

On August 12, 2024, Godrej Properties Ltd’s share price opened at ₹2,927.00, touching the day’s low at ₹2,878.00, as of 10:10 AM on the NSE.

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