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The National Capital Region accounted for over half of Godrej Properties’ sales in FY24, while the Mumbai Metropolitan Area contributed 29% of the ₹22,500 crore total bookings—a figure that was 61% above the company’s stated expectation.
The developer, located in Mumbai, has been quickly growing in other cities, becoming one of the few Pan-Indian companies with a notable presence in the nation’s key real estate markets.
According to the company’s quarterly report, bookings from NCR increased by 180% to exceed ₹10,000 crores in FY24, while bookings from MMR increased by 114% to exceed ₹6,500 crores.
Godrej Zenith Gurgaon Received Bookings Of 3000 Crore
It sold 14,310 houses with a combined 20 million square feet of space, gaining 31% year over year in terms of volume and 84% in terms of value. The firm operates in 10 cities, including non-metros like Kochi and Nagpur.
Its two biggest markets are MMR and NCR, with Bengaluru catching up quickly. The business claimed a 135% year-over-year increase in sales of 5,331 properties, valued at ₹9,500 crores, in the fourth quarter of FY24. 8.17 million square feet of total area were sold during the quarter, an increase of 56%.
The pattern for the entire year was reflected in its quarterly sales. MMR and NCR were the two new products that drove sales throughout the quarter. Godrej Reserve in MMR saw sales of ₹2,690 crores, while Godrej Zenith in NCR received bookings of ₹3,000 crores.
Godrej Aristocrat Recorded Sales Bookings Above 2,000 Crore
During the whole year, the developer’s four projects—Godrej Aristocrat, which debuted in the December quarter, and Tropical Isle, which debuted in the September quarter—recorded bookings above ₹2,000 crores.
Gaurav Pandey, MD and CEO of Godrej Properties, credited robust volume growth and a better project mix for the revenue increase.
“We will be supported by our recent entry into the major Hyderabad market, and we still have a strong new launch pipeline for 2024,” he stated. The corporation purchased two land lots in Hyderabad last month, with a combined potential sales value of ₹4,800 crores.
Source-ET
