Godrej Properties becomes a dominant market player in Bangalore, Delhi-NCR, Pune and Mumbai

1 min read

godrej-properties-becomes-a-dominant-market-player-in-bangalore-delhi-ncr-pune-and-mumbai.jpg

Godrej Properties is now amongst the top 3 real estate developers in markets like Bangalore, Pune, Mumbai and Delhi-NCR. Reports state that Godrej Properties has garnered more than Rs. 800 crore by way of property bookings from these four key Indian realty markets. Godrej Properties also performed well in the last financial year, achieving Rs. 5, 083 crore in gross sales bookings. According to reports, the company has achieved a stellar year in FY2017-18 and this is the best year for the company in terms of market performance, real estate volumes sold and value of the same as well.

Godrej Properties Limited was able to notch up sales volumes exceeding Rs. 1, 000 crore for all four quarters in the last financial year for the very first time as per company reports. Godrej has collectively sold in excess of 1.25 million sq. ft. and the booking value is more than Rs. 800 crore each for the four markets being emphasized upon. The company has come up with multiple new launches along with generating higher sales volumes from existing housing inventory. The booking values notched up for the last financial year indicate an increase of 152% on a year-on-year basis.

Godrej Properties Limited is now targeting the pinnacle of being the biggest publicly listed real estate developer in the country by the end of this financial year in terms of sales values as per reports. Godrej has outperformed most of the real estate industry which witnessed lower sales volumes in the last financial year.

Godrej Properties Limited is part of the Godrej Group, one of India’s most reputed business conglomerates and posted more than two times of growth in consolidated net profits for the quarter between January and March 2018. The total income of the company also went up by a whopping 84% in this period. Net profits also went up by 14% in the last fiscal while total income went up by 41%. This marks a true purple patch for the company in a slowly stabilizing real estate market. The company is currently working on commercial, residential and township projects which cumulatively span around 151 million sq. ft. across 12 Indian cities. The company has a significant market presence in Mumbai, Pune, Delhi-NCR and Pune along with many other cities.

 

Resident Editor