On Tuesday, Godrej Properties Ltd said that it has sold over 600 homes in its new luxury housing complex in Gurugram, Haryana.
The business said in a regulatory filing that it “sold inventory worth over Rs 2,600 crore in its project Godrej Aristocrat, located in Sector 49 on Golf Course Extension Road, Gurugram.”
In this 9.5-acre housing project, the business will build almost 750 flats. The beginning price per unit is roughly Rs 4 crore.
Godrej Properties claims this is its most successful launch in terms of sales value, exceeding the previous peak of approximately Rs 2,000 crore at its Godrej Tropical Isle project in Noida last quarter.
“Gurugram is an extremely important market for Godrej Properties, stated MD & CEO Gaurav Pandey. In 2024, we intend to unveil four new projects in Gurugram…” Godrej Properties, the real estate business of the Godrej Group, is one of the country’s top developers.
Godrej Properties increased its sales bookings by 48% from April to September 2023-24 to Rs 7,288 crore, up from Rs 4,929 crore the previous year.
The Delhi-NCR market contributed Rs 3,186 crore to the overall sales booking of Rs 7,288 crore.
Pirojsha Godrej, Executive Chairperson of Godrej Properties, told PTI last month that “Delhi-NCR is a big market for us. During the current and upcoming quarters, we intend to develop housing projects in Noida, Gurugram, and Ashok Vihar, Delhi.“
According to Pirojsha, the firm is concentrating on the introduction and timely implementation of new housing projects in key cities.
Godrej Properties has an ambitious launch pipeline in four priority areas in the second half of this fiscal year: Delhi-NCR, Mumbai Metropolitan Region (MMR), Pune, and Bengaluru.
Pirojsha expressed confidence that the business will fulfill its aim of selling Rs 14,000 crore in houses this fiscal year due to robust demand for its present and prospective housing projects.
In the previous fiscal year, Godrej Homes sold homes worth Rs 12,232 crore.
On the financial front, the firm recently recorded a 22% increase in consolidated net profit to Rs 66.80 crore in the September quarter of FY24, up from Rs 54.96 crore the previous year.
Total revenue increased to Rs 605.11 crore during the quarter, up from Rs 369.20 crore in the previous year’s similar period.
Godrej Properties Limited is an Indian real estate development firm. The firm was founded in 1990, and concentrates on residential, commercial, and township projects. The residential portfolio of the firm consists of several kinds of lodgings; the commercial portfolio consists of office space catering to Indian and foreign enterprises.
