demand for expensive houses
After the Corona epidemic, the demand for big size houses has increased in the country. The demand for large size of houses and houses equipped with all the luxurious facilities has led to a big jump in property prices. This has led to a big jump in the sales of India’s two biggest real estate companies – Godrej Properties and Macrotech Developers. These two companies have sold assets worth more than Rs 22,000 crore during April-September. Due to strong demand for expensive homes, the combined sales of both the companies have increased by 56 percent on an annual basis.
Sales under Godrej and ‘Lodha’ brands
Godrej Properties markets its real estate projects under the Godrej brand, while Macrotech Developers markets its properties under the ‘Lodha’ brand. Godrej Properties sold properties worth over Rs 13,800 crore during the first half of the current financial year (2024-25). During this period, sales booking of Macrotech Developers stood at Rs 8,320 crore. Most of these sales were of residential units. The combined sales booking of both the Mumbai-based real estate companies stood at Rs 22,120 crore during April-September, 2024, compared to Rs 14,178 crore sold by both the companies in the same period a year ago.
Sales price increased by 89 percent on annual basis
According to recent operational data, Godrej Properties’ sales booking value grew 89 per cent year-on-year to over Rs 13,800 crore during April-September this year, compared to Rs 7,288 crore in the same period a year ago. Macrotech Developers said its sales bookings rose 21 per cent to Rs 8,320 crore in the first half of the current financial year, compared to Rs 6,890 crore in the same period a year ago. Godrej Properties has achieved the highest ever sale booking price during this period. Both Godrej Properties and Macrotech Developers have expressed confidence of achieving their sales booking targets for FY 2024-25. Godrej Properties is targeting sales booking of Rs 27,500 crore for the full fiscal year, while Macrotech Developers has given a sales estimate of Rs 17,500 crore.
Became the largest listed realty company
Godrej Properties became the largest listed real estate company in terms of sales bookings during FY 2023-24. Godrej Properties’ sales bookings increased by 84 per cent to a record Rs 22,527 crore in the last financial year, compared to Rs 12,232 crore in the previous financial year. Macrotech Developers reported 20 per cent growth in sales bookings to a record Rs 14,520 crore as against Rs 12,060 crore a year ago.
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