Demonstrating its robust sales performance and strong financial support from banks, M3M India, a leading real estate developer, announced its quarterly performance results for the first quarter of 2024-25, achieved a significant milestone in Q1FY25 with sales of Rs. 3911 crore, marking a 37% increase from Rs. 2854 crore in Q1FY24, bolstered by significant financial support from banks. Its impressive sales figures clearly indicate strong market demand and successful execution of projects.
In the residential and plot development segment, M3M clocked stunning sales of Rs. 2028 crore in Gurugram, Panipat and Noida region during the first quarter of FY 2023-24. Its sales during the first quarter of FY 2024-25 are impressively pegged 46% increase at Rs. 2971 crore.
The company's impressive performance in its commercial segment is evident. M3M secured Rs. 826 crore from its commercial segment during Q1FY 2023-24. The Q1 result for FY 2024-25 is equally remarkable, amounting to Rs. 940 crore, in the commercial segment.
In Q1 FY25, total sales in Gurugram projects increased by 6.25% to Rs. 2415 crores, up from Rs. 2273 crores in Q1 FY24. Meanwhile, in Noida projects, total sales rose by 34% to Rs. 402 crores in Q1 FY25, compared to Rs. 300 crores in Q1 FY24. On a quarterly year-on-year basis, M3M registered a remarkable 300 percent growth in the plotted development segment, reaching Rs. 1094 crore in Q1 of FY 2024-25, compared to the corresponding Q1 of FY 2023-24.
“We are thrilled to report robust growth in our Q1 results for 2024-25, demonstrating our commitment to delivering high-quality real estate solutions. This outstanding performance is a testament to our commitment to delivering exceptional quality and customer satisfaction. With a strong pipeline of ultra-luxury projects lined up for launch in FY'25, we are confident of sustaining this momentum and continuing to create value for our stakeholders,” said Sudeep Bhatt, President, M3M India.
The company's financial health is quite robust due to strategic planning and efficient execution. Major banks—including ICICI, HDFC, SBI, Central Bank of India, Bank of Maharashtra, Canara Bank, and Axis—have supported M3M with their disbursement commitments. The total consolidated amount of financial support and assistance provided by banks to M3M is pegged at Rs. 4600 crore. This underlines the company's strong market presence and growing trust among buyers and investors.
According to the International Market Analysis Research and Consulting Group (IMARC Group), the real estate market in India is expected to grow as short-term growth rate of 9.2% (CAGR) by 2028, with the market size estimated to increase from USD 0.33 trillion in 2024 to USD 1.04 trillion by 2029, representing a CAGR of 25.60% during the forecast period (2024-2029). In this growth trajectory, M3M Group is expected to maintain its strong and resilient presence.
M3M India has 56 projects spread across retail, residential, offices, service apartments etc. All of its projects launched prior to 2019 have already been delivered and the construction is in full swing in the rest of the projects. It has an impressive land-bank of 3,000 acres across Gurugram, Noida and Panipat.
