April 9, 2024: Godrej Properties Limited (GPL) had its best ever quarterly and annual sales in Q4 FY24 and FY24 respectively, the company said in an official statement. According to the company, GPL’s Q4 FY24 booking value grew by 135% to more than Rs 9,500 crore, and FY24 booking value grew by 84% to more than Rs 22,500 crore.
The company achieved 161% of its booking value guidance for FY24 with volume growth of 31% during the year to 20 million square foot (msf) and an improved project mix. Sales volume for Q4 FY24 grew by 56% to 8.17 msf.
According to the company, the sales were driven by superlative consumer demand in some key new project launches. Godrej Zenith in NCR achieved a booking value of more than Rs 3,000 crore and Godrej Reserve in MMR achieved a booking value of Rs 2,690 crore. Both of these projects were the best ever launches for GPL in the respective markets. In FY24, four projects (including Godrej Aristocrat launched in Q3 and Godrej Tropical Isle launched in Q2) achieved over Rs 2,000 crore booking value. GPL’s bookings in NCR in FY24 grew 180% to over Rs 10,000 crore and GPL’s bookings in MMR grew 114% to over Rs 6,500 crore.
Gaurav Pandey, MD and CEO, Godrej Properties, said, “The sales bookings of over Rs 9,500 crore in Q4FY24 surpasses our annual bookings in FY22. We achieved a growth of 84% in FY24 to register bookings of over Rs 22,500 crore. We are pleased that this sales growth was on the back of both an improving project mix as well as strong volume growth of 31%. We continue to have a strong launch pipeline for the current year, which will also be bolstered by our recent entry into the important Hyderabad market.”
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With 16+ years of experience in various sectors, of which more than ten years in real estate, Anuradha Ramamirtham excels in tracking property trends and simplifying housing-related topics such as Rera, housing lottery, etc. Her diverse background includes roles at Times Property, Tech Target India, Indiantelevision.com and ITNation. Anuradha holds a PG Diploma degree in Journalism from KC College and has done BSc (IT) from SIES. In her leisure time, she enjoys singing and travelling.
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