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Godrej Properties Limited said that more than 600 apartments in its brand-new, luxurious housing development in Gurugram, Haryana had been sold.
The company stated in a regulatory filing that it had “sold inventory worth over Rs 2,600 crore in its project Godrej Aristocrat, located in Sector 49 on Golf Course Extension Road, Gurugram.”
According to the company the 9.5-acre luxury housing project will have around 750 flats. The starting cost for each unit is around Rs 4 crore onwards.
Godrej Aristocrat: The Most Successful Project In Terms Of Sales
According to Godrej Properties, this launch has been the most successful in terms of the sales value attained, exceeding the previous record of more than Rs 2,000 crore at its Godrej Tropical Isle project situated in Noida last quarter.
“Gurugram is one of the market for Godrej Properties,” said MD & CEO Gaurav Pandey. In 2024, we want to introduce four new initiatives in Gurugram.” One of the top developers in the nation is Godrej Properties, the Godrej Group’s real estate division.
Godrej Properties saw a 48% increase in sales bookings from April to September 2023–24, reaching Rs 7,288 crore, compared to Rs 4,929 crore in the same period the previous year. The Delhi-NCR market contributed Rs 3,186 crore of the overall sales booking of Rs 7,288 crore.
How Delhi-NCR Proves A Significant Market For Godrej Properties?
Delhi-NCR is a significant market for Godrej Properties, Executive Chairperson Pirojsha Godrej told PTI last month. We want to start house developments in Ashok Vihar, Delhi, and Noida, Gurugram, in the present and next quarter.
According to Pirojsha, the company’s primary focus is on initiating and promptly completing new housing projects in major cities.
In the second half of this fiscal year, Godrej Properties has a busy launch schedule in four key markets: Bengaluru, Delhi-NCR, Pune, and Mumbai Metropolitan Region (MMR).
How Godrej Properties Achieved The 14,000 Crore Sales Target?
Based on the firm’s high demand for its present and future housing projects, Pirojsha expressed confidence that the company would fulfill its aim to sell houses worth Rs 14,000 crore this fiscal year.
In the preceding fiscal year, Godrej homes sold homes valued at Rs 12,232 crore. In terms of finances, the firm recently revealed that its consolidated net profit increased by 22% to Rs 66.80 crore in the September quarter of FY24, compared to Rs 54.96 crore in the same time the previous year.
Compared to the same time the previous year, when total income was Rs 369.20 crore, it increased to Rs 605.11 crore during the period.