A period of tremendous boom is being seen in the real estate sector. Domestic builders are benefiting from this on a large scale. Godrej Properties said that bookings stood at a record Rs 22,500 crore in the last financial year 2023-24 with an increase of 84 percent. Strong demand for residential properties was the main reason for the sales growth. Godrej Properties has overtaken Bengaluru-based Prestige Group’s sales booking record. Prestige Group had informed on Monday about sales booking of Rs 21,040 crore in the last financial year.
Lodha Group made sales worth Rs 14,520 crore
Macrotech Developers (Lodha Group) has reported sales of Rs 14,520 crore in FY 2023-24. DLF has not announced its figures yet. Godrej Properties said in the information given to the stock market that the company has recorded its best ever quarterly and annual sales in the fourth quarter of the last financial year and the entire 2023-24 respectively. Godrej Properties’ sales bookings in the fourth (January-March) quarter of FY 2023-24 doubled year-on-year to more than Rs 9,500 crore. Its sales bookings grew 84 percent year-on-year to more than Rs 22,500 crore in the last financial year.
Godrej Properties made record
This is the highest annual sales ever announced by any publicly listed real estate developer in India, the company said. This was possible through the sale of 14,310 houses spread over an area of two crore square feet. Godrej Properties said the company’s sales bookings grew 56 per cent year-on-year to 81.7 lakh sq ft in the January-March quarter of the last financial year.
Gaurav Pandey, Managing Director and Chief Executive Officer (CEO), Godrej Properties, said, “We are pleased with the momentum we have achieved in the last two years. Sales bookings of over Rs 9,500 crore in Q4 FY 2023-24 exceed our annual bookings in FY 2021-22.” Godrej Properties is part of the business conglomerate Godrej Group. It is one of the leading developers in the country.
Latest Business News