real Estate company Godrej Properties plans to launch residential projects worth Rs 30,000 crore in major cities in the current financial year (2024-25). Company executive chairperson Pirojsha Godrej said that amid huge demand, the company aims to achieve 20 percent growth in sales bookings. “We have targeted sales bookings of Rs 27,000 crore for the current financial year, which is a 20 per cent growth from the high base in 2023-24,” Pirojsha said in an exclusive interview with PTI.
The company’s sales bookings increased by 84 percent to a record Rs 22,527 crore in the last financial year, from Rs 12,232 crore in FY 2022-23. This is the highest ever sales recorded by any listed entity for the last financial year. Pirojsha said demand will remain strong in the housing segment, especially from prestigious brands.
‘The past financial year was wonderful’
He said, “It (2023-24 financial year) was a great year overall, whether you look at new projects, sales, collections from customers, business growth, delivery of projects, cash flows and profits. “We are really excited to see the momentum the business is gaining.” He expects the demand for housing to continue in the coming years. To meet this demand, Pirojsha said the company has lined up several projects for the markets of Delhi-NCR, Mumbai Metropolitan Region (MMR), Bengaluru, Pune and Hyderabad.
6 projects in Delhi-NCR
He said that six projects are being planned to be started in Delhi, Gurugram and Noida in the current financial year. According to the investor presentation, Godrej Properties plans to launch projects in an area of 2.19 crore sq ft with an estimated sales booking value of Rs 30,000 crore in the current financial year. Pirojsha said that not only new projects and sales, but the company will also continue to acquire plots for future development and increase the supply of projects.
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