Sunday, July 14, 2024

Godrej Properties Achieves Record Sales of ₹2,600 Crore in Luxury Gurugram Project

Godrej Properties Ltd announced on Tuesday that it has successfully sold over 600 flats in its newly launched luxury housing project in Gurugram, Haryana. The regulatory filing revealed that the company achieved sales of more than ₹2,600 crore in its Godrej Aristocrat project, located in Sector 49 on Golf Course Extension Road.

The 9.5-acre housing project will feature nearly 750 apartments, with a starting price of approximately ₹4 crore per unit. This sales milestone marks Godrej Properties’ most successful launch to date, surpassing the previous record set at its Godrej Tropical Isle project in Noida last quarter, where sales exceeded ₹2,000 crore.

Gaurav Pandey, MD & CEO, highlighted the significance of Gurugram as a crucial market for Godrej Properties, expressing plans to launch four new projects in Gurugram in 2024. During the April-September period of the fiscal year 2023-24, the company achieved a 48% growth in sales booking, reaching ₹7,288 crore, with the Delhi-NCR market contributing ₹3,186 crore.

Pirojsha Godrej, Executive Chairperson, had previously mentioned the company’s focus on the Delhi-NCR market, with plans to launch housing projects in Noida, Gurugram, and Ashok Vihar, Delhi. Godrej Properties has an aggressive launch pipeline in the second half of the fiscal year, targeting key markets such as Delhi-NCR, Mumbai Metropolitan Region (MMR), Pune, and Bengaluru.

Pirojsha expressed confidence in meeting the fiscal year’s target to sell properties worth ₹14,000 crore, citing strong demand for ongoing and upcoming housing projects. The company reported a 22% rise in consolidated net profit to ₹66.80 crore during the September quarter of FY24, with total income reaching ₹605.11 crore.

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