Godrej Properties achieves record-breaking sales in fiscal year 2024
Godrej Properties Limited (GPL), a premier real estate developer listed on the Bombay Stock Exchange (BSE) under the scrip id GODREJPROP, has announced an unprecedented achievement in its sales records for both the fourth quarter of the fiscal year 2024 (Q4 FY24) and the entire fiscal year (FY24). This milestone underscores the company’s leading position in the national real estate market and its successful strategy in addressing consumer demands through key project launches.
In Q4 FY24, Godrej Properties reported a booking value growth of 135%, amounting to over INR 9,500 crore. This remarkable quarterly performance contributed to an annual booking value increase of 84%, totaling more than INR 22,500 crore for FY24. The company achieved 161% of its booking value guidance for the fiscal year, with a volume growth of 31% to 20.00 million sq. ft., highlighting an improved project mix and an expansion in its sales volume by 56% to 8.17 million sq. ft. in Q4 FY24.
The surge in sales was significantly driven by exceptional consumer response to new project launches, notably Godrej Zenith in the National Capital Region (NCR) and Godrej Reserve in the Mumbai Metropolitan Region (MMR), each setting new benchmarks for booking values in their respective markets.
Gaurav Pandey, the Managing Director & CEO of Godrej Properties, expressed satisfaction with the company’s performance over the past two years, noting the strategic scale-up and the record-breaking sales bookings of over INR 9,500 crore in Q4 FY24. “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%,” Pandey stated, acknowledging the support and trust of customers and stakeholders. The company anticipates continued growth, supported by a robust launch pipeline and its recent expansion into the Hyderabad market.
Godrej Properties’ record sales in FY24 have positioned the company as a trailblazer in the Indian real estate sector, achieving the highest ever quarterly and annual sales by any publicly listed real estate developer in India.
This success is a testament to the company’s deep market understanding and its capacity to deliver high-quality performance across key operating metrics.
Godrej Properties Limited’s achievements in FY24 reflect a significant trend in the real estate sector, where strategic project launches and an emphasis on sustainability and consumer demand drive growth. The company’s focus on key markets like the NCR and MMR, coupled with its expansion into new regions, positions it well for sustained success in the evolving real estate landscape.