The real estate developer Godrej Properties Limited (GPL) announced, on April 10, 2023, the key financial updates for Q4 and FY23. The company recorded sales bookings of Rs 4,051 crore in Q3 FY23 and its booking value for the entire financial year grew by 56% to Rs 12,232 crore.
GPL’s sales volumes for the quarter grew by 19% QoQ from 4.42 msf in Q3 FY23 to 5.25 msf Q4 FY23. The sales volumes for the full financial year grew by 40% from 10.84 msf in FY22 to 15.21 msf in FY23. The company’s cash collections for FY23 grew by 41% to Rs 8,991 crore. The cash collections for Q4 FY23 stood at Rs 3,822 crore, marking a QoQ growth of 127% and YoY growth of 52%.
Godrej Properties saw its highest ever quarterly and annual project deliveries, having delivered projects aggregating over 10 msf across five cities in FY23 including 7.6 msf in Q4. The company added 18 new projects in FY23 with a total estimated saleable area of nearly 29 msf and total estimated booking value of Rs 32,000 crore. This includes 5 new projects with an expected booking value of Rs 5,750 crore in Q4.
Gaurav Pandey, MD and CEO, Godrej Properties, said, “Our sales bookings growth of 56% allowed us to register total FY23 bookings of Rs 12,232 crore, which was 22% ahead of our full year guidance. This sales growth for the year was on the back of both an improving project mix as well as strong volume growth of 40%. Importantly, our robust sales performance, has translated into record collections growth of 41% to Rs 8,991 crore backed by strong project completions of over 10 msf.”
“With our business development additions nearly doubling our initial guidance and increasing by over 200% YoY, we will have a stronger launch pipeline in the current year than ever before. Our teams have built a deep understanding across all the key real estate markets in India and are greatly excited by the potential the next several years offer for us to deliver sustained high-quality performance across all key operating metrics,” he added.
| Got any questions or point of view on our article? We would love to hear from you.
Write to our Editor-in-Chief Jhumur Ghosh at [email protected] |
Housing News Desk is the news desk of leading online real estate portal, Housing.com. Housing News Desk focuses on a variety of topics such as real estate laws, taxes, current news, property trends, home loans, rentals, décor, green homes, home improvement, etc. The main objective of the news desk, is to cover the real estate sector from the perspective of providing information that is useful to the end-user.
Facebook: https://www.facebook.com/housing.com/
Twitter: https://twitter.com/Housing
Email: [email protected]
Related Posts
Ajmera Realty & Infra India clocks sales value of Rs 834 cr in FY23.
India Sotheby’s International Realty clocks sales value of $450 mn in FY23.
Godrej enters into JV with Hero Cycles, for office space development on Golf Course Road.
Puravankara Limited records sales value of Rs 3,107 cr in FY23.
Sobha voted top national real estate brand for the 5th consecutive year: Track2Realty BrandXReport 2018-19.
Shriram Properties net profit up 69% in Q3.
