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Godrej Properties Ltd’s shares were up by 4.62 per cent after the company reported its highest-ever quarterly and annual sales figures for Q4 FY24 and FY24 respectively. Bookings surged by 135 per cent year-on-year to over Rs 9,500 crore in Q4 FY24, representing the highest quarterly sales announced.
This was driven by the sale of 5,331 homes, with a total area exceeding 8 million sq. ft. In FY24, Godrej Properties’ bookings grew by 84 per cent year-on-year to over ₹22,500 crore, and was attributed to the sale of 14,310 homes with a total area of 20 million sq. ft. The company also reported its highest-ever quarterly sales in the Mumbai Metropolitan Region (MMR) with sales surpassing ₹4,000 crore in Q4 FY24.
Gaurav Pandey, MD & CEO, Godrej Properties, said, “We are delighted with the scale-up we have achieved in the past two years. Sales bookings of over Rs 9,500 crore in Q4FY24 surpasses our annual bookings in FY22. 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 per cent.
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 key real estate markets in India, and are greatly excited by the potential the next several years offers us to deliver sustained high-quality performance across key operating metrics.”
The shares were up by 4.62 per cent at Rs 2,707.55 at 10.24 am on the BSE.
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