May 16, 2024: Bangalore-based real estate development company Century Real Estate has achieved a 121% growth in residential sales bookings compared to its previous fiscal year, according to the official release. The company has recorded Rs 1022 crore of sales in the Bangalore market alone, with a 4X growth over the past 4 years.
According to the company, the growth can be attributed to the strong demand being witnessed for Century’s projects across segments. Century Novus, the company’s new launch in April’24, was sold out within 6 months. Century’s premium plotted offerings, Century Eden Prime and Century Trails, sold off most of the inventory within the first month of launch. Century Ethos, the company’s flagship luxury offering, has also been sold out. Overall, Century has sold out 96% of its residential inventory from the start of FY24.
Century Real Estate plans to bring in many of its prime land parcels into the market in the form of large new projects, and is targeting sales of 2100 crore in FY’25, driven by its pipeline of upcoming projects.
Ravindra Pai, managing director – Century Real Estate said, “We are close to completion of some of our marquee projects in both residential and commercial segments; and are pleased to see the overwhelming response our projects are receiving from the market. Backed by strong fundamentals, the Bengaluru real estate market is fast becoming the most desirable real estate market in the country. And with India’s GDP steaming towards being among the Top 5 in the World, the next decade is expected to be India’s decade of growth. We plan to bring our prime land parcels at the most sought-after locations of Bengaluru into development, with promising luxury residential and commercial offerings. These projects will infuse inventory of over 7200 cr into the market this FY, and provide multiple wonderful offerings for the Bengaluru market.”
Maninder Chhabra – director – Sales, Marketing & CRM, said “FY 24 was a remarkable year for us, with multiple blockbuster new launches, record sales numbers, and clutter-breaking marketing campaigns. We’re grateful to our customers, vendors & channel partners for their trust and support in this growth story. We’re very excited about the wonderful new products that we are bringing to ultra-prime locations across Bengaluru this year. Starting with a much-anticipated & sought-after luxury development in Indiranagar very soon. Many prime locations this year in Bangalore, will be ‘Thinking Ahead’!”
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