Introduction
With strong housing demand, last financial year Rs. 22,500 crores with record sales bookings, said Pirojsha Godrej, executive chairman of Godrej Properties Ltd. The company is looking to achieve some growth even on a higher base, and in 2024-25, Rs. 25,000 crores as a pre-sales figure, he said.
Table of Contents
- Godrej Properties Target: Profitable Financial Year
- Teamwork is Very Well: Pirozsha
- 10,000 Crore Bookings in the Last Year
- Strong Demand for Real Estate in Indian Market
Earlier this week, Godrej Properties reported an 84 percent growth in sales bookings last fiscal to a record Rs. 22,500 crores and launched premium housing projects with strong consumer demand.
In 2023-24 Godrej Properties beat Bengaluru-based Prestige Group’s sales booking numbers, which stood at Rs. 21,040 crores in pre-sales reported and is likely to become the largest listed real estate developer in terms of sales bookings in FY 2023.
Godrej Properties Target: Profitable Financial Year
Pirojsha Godrej said the company expects another good financial year, considering the positive consumer sentiment. He said that according to the changing market conditions, we are offering modern houses to the buyers.
Talking about the sales bookings target for the current fiscal year 2024-25, Pirozsha said, “We will definitely see some growth even on this high base, as we are targeting Rs 25,000 crores. We have reached the targets in 23-24,” he said.
Teamwork is Very Well: Pirozsha
Mumbai-based Godrej Properties, part of the conglomerate Godrej Group, is one of India’s leading real estate developers. It has a significant presence in Delhi-NCR, Mumbai Metropolitan Region (MMR), Pune, and Bangalore. In the last financial year, it entered Hyderabad by acquiring two land parcels.
Describing its operational performance in the last financial year, Pirozsha said, “We started very slow. But we are happy that we have caught on. The team is doing very well, and the market is strong. We have seen a significant increase in revenue and customer satisfaction levels. Our strategic decisions and hard work have paid off, Positioning us for continued success in the future.
10,000 Crore Bookings in the Last Year
He noted that sales bookings in the Delhi-NCR market crossed Rs 10,000 crore in the last fiscal and said the company plans to launch multiple housing projects in Delhi, Noida, and Gurugram in the upcoming year to meet the growing demand for affordable housing in the region. He also mentioned that the company is exploring opportunities to expand its presence in other key cities across India.
Those customers, especially those buying under-construction properties, prefer top developers with the financial wherewithal to deliver projects said he. These customers want assurance that their investment is safe, and that the developer will complete the project on time. Reputation and track record are essential factors in their decision-making process. Customers also value transparency in communication and a developer’s ability to resolve any issues immediately.
They want to be confident that their investment will yield a return and that they are working with a trusted partner in the real estate industry. Customers appreciate developers who provide regular updates on the project’s progress. Ready to solve any problems that arise during construction. Clear communication and commitment to quality are vital in building trust with buyers of under-construction assets.
Strong Demand for Real Estate in Indian Market
“This is the highest annual sales announced by a publicly listed real estate developer in India. This was achieved through the sale of 14,310 homes covering a total area of 20 million square feet,” the company said. The company’s success in achieving record-breaking sales reflects the strong demand for real estate in the Indian market. Impressive sales figures also demonstrate the developer’s ability to meet the area’s needs and homebuyers’ preferences.
Godrej Properties said sales bookings were driven by excellent consumer demand for new project launches. The company reported a significant increase in sales compared to the previous quarter, attributing the success to solid marketing strategies and attractive pricing. Additionally, Godrej Properties plans to capitalize on this momentum by expanding its portfolio with more innovative projects shortly.
Godrej Zenith in Delhi-NCR, Rs. 3,000 crores in housing bookings. The company cited Godrej Reserve in the Mumbai metropolitan area, which achieved a booking value of Rs 2,690 crores. Godrej Properties is known for its successful residential projects across major cities in India. The company’s focus on quality construction and customer satisfaction has contributed to its strong performance in the real estate market.
Conclusion
Godrej Properties, in FY’25, has set a sales booking target of Rs. 25,000 crores. The chairman of Godrej Properties said that the target will be reached this year with solid housing demand. The company sees an increase in demand for residential properties across various segments. The Chairman stated that strategic expansions and innovative marketing strategies have contributed to the optimistic sales forecast. For more information, visit openplot.
Also read: Godrej Properties Sells Flats Worth ₹2,690 crore in Mumbai.