News Godrej sells Rs 28,800 cr worth properties in 2024, tops listed firms
Godrej Properties Sales in 2024
In the calendar year 2024, Godrej Properties achieved remarkable sales figures, selling properties worth Rs 28,800 crore, making it the highest among all listed real estate companies in India. This achievement was driven by strong demand for its housing projects across various cities.
Sales Performance and Growth
The company reported a significant increase in booking value, which grew by 69% compared to the previous year. The total area sold amounted to 26.38 million square feet, reflecting a volume growth of 54%. This performance indicates not only a robust demand for residential properties but also effective marketing and project execution strategies employed by Godrej Projects in Mumbai.
Market Contribution
The sales were notably concentrated in key metropolitan areas, with the Delhi-NCR market contributing the largest share of pre-sales at approximately Rs 9,936 crore. Godrej Properties in Noida Following this, the Mumbai Metropolitan Region (MMR) accounted for about Rs 9,177 crore, while Bengaluru contributed around Rs 5,303 crore. These figures highlight the geographical distribution of demand and suggest that Godrej Properties has successfully tapped into these lucrative markets.
Project Launches and Future Potential
Godrej Properties in Pune In addition to its impressive sales figures, Godrej Properties launched 30 projects during the year, including new phases in existing developments. These projects have a combined sales potential of approximately Rs 34,300 crore, indicating a strong pipeline for future revenue generation. Furthermore, the company delivered an area of 18 million square feet, showcasing its operational capabilities.
Financial Performance
Financially, Godrej Projects reported substantial growth in net profit and total income. For instance, in the December quarter alone, net profit surged more than two and a half times to reach Rs 162.64 crore, up from Rs 62.27 crore in the same period last year. Total income also more than doubled to approximately Rs 1,239.97 crore, reflecting strong operational performance amid high housing demand.
Godrej Propertiesโ record-breaking performance in 2024 underscores its position as a leader in Indiaโs Godrej Riverine real estate sector and highlights its ability to capitalize on market opportunities effectively.