Godrej Properties Limited (GPL) a leading national real estate developer, announced its best ever quarterly and annual sales in Q4 FY 24 and FY 24 respectively. Q4 FY24 booking value grew by 135% to more than INR 9,500 crore and FY 24 booking value grew by 84% to more than INR 22,500 crore. GPL achieved 161% of its booking value guidance for FY24 with volume growth of 31% during the year to 20.00 million sq. ft. and an improved project mix. Sales volume for Q4FY24 grew by 56% to 8.17 million sq. ft.
Sales were driven by superlative consumer demand in some key new project launches. Godrej Zenith in NCR achieved a booking value of more than INR 3,000 crore and Godrej Reserve in MMR achieved a booking value of INR 2,690 crore. Both of these projects were the best ever launches for GPL in the respective markets.
In FY24, 4 projects (including Godrej Aristocrat launched in Q3 and Godrej Tropical Isle launched in Q2) achieved over INR 2,000 crore booking value. GPL’s bookings in NCR in FY 24 grew 180% to over INR 10,000 crore and GPL’s bookings in MMR grew 114% to over INR 6,500 crore.
Gaurav Pandey, MD & CEO, Godrej Properties, said, “We are delighted with the scale up we have achieved in the past two years. The sales bookings of over INR 9,500 crore in Q4FY24 surpasses our annual bookings in FY22. We achieved a growth of 84% in FY24 to register bookings of over INR 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’d like to take this opportunity to sincerely thank our customers and all stakeholders for their trust and confidence in Godrej Properties.
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. We have built a deep understanding across 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.”
