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Godrej Properties: Setting Records in FY’24 Sales Bookings

Team Opulnz Abode: 05-04-2024, 12:13: Read Time – 2mins

Godrej Properties, a leading real estate firm in India, has achieved a feat of remarkable success in sales bookings for the fiscal year 2023-24, setting new benchmarks in the industry. With an astounding increase of 84%, the company reported sales bookings totalling over Rs 22,500 crore, a figure that stands as the highest-ever annual sales announced by any publicly listed real estate developer in the country.

Surpassing Competitors

Godrej Properties’ outstanding performance has been a success and a triumph over other prominent players in the market. Bengaluru-based Prestige Group reported pre-sales of Rs 21,040 crore for the same fiscal year, but it was Godrej’s significant lead in sales bookings that truly shone. Macrotech Developers reported sales of Rs 14,520 crore, further underlining Godrej Properties’ dominance in the real estate sector. While DLF is yet to announce its numbers, it’s clear that these four listed entities are in a fierce race to gain market share, with Godrej Properties leading the pack.

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Unprecedented Growth

The exponential growth in sales bookings for Godrej Properties can be attributed to various factors, including robust consumer demand for residential properties and the strategic project launches that the company meticulously planned. The company witnessed a substantial increase in sales bookings during the fourth quarter of the last fiscal, with figures more than doubling year-on-year to over Rs 9,500 crore.

Key Contributors to Success

Several key projects have contributed significantly to Godrej Properties’ stellar performance. For instance, Godrej Zenith in Delhi-NCR achieved a booking value of more than Rs 3,000 crore, showcasing the immense popularity and demand for the project. Similarly, Godrej Reserve in the Mumbai Metropolitan Region achieved a booking value of Rs 2,690 crore, further solidifying the company’s position as a market leader.

Continuous Innovation and Expansion

Godrej Properties’ success is not just a result of current efforts but a testament to its long-term vision and unwavering commitment to innovation. The company has consistently focused on introducing new project launches that cater to evolving consumer needs and preferences. This proactive approach has not only enabled Godrej Properties to maintain its competitive edge but also to thrive even in challenging market conditions, inspiring confidence in its future growth.

Conclusion

In conclusion, Godrej Properties’ record-breaking sales bookings in FY’24 underscore its unwavering commitment to excellence and innovation in the real estate sector. With a customer-centric approach and a portfolio of exceptional projects, the company continues to set new industry success standards. As it embarks on the journey ahead, Godrej Properties remains poised to redefine the landscape of Indian real estate and inspire further growth and development in the years to come.