Godrej Properties sells homes worth ₹3,150 crore at its Bengaluru project
Godrej Properties sells homes worth ₹3,150 crore at its Bengaluru project
Realty firm Godrej Properties Ltd. has informed the exchanges that it has sold over 2,000 homes worth over ₹3,150 crore at its Bengaluru project.
In a regulatory filing, Godrej Properties on Tuesday said, "sold over 2,000 homes worth over ₹3,150 crore in its project, Godrej Woodscapes, located in Whitefield-Budigere Cross, Bengaluru."
With this, Godrej Properties has achieved over 500% quarter-on-quarter growth in sales in Bengaluru and has surpassed its full year FY24 sales in South India within the first quarter.
"This is Godrej Properties' most successful launch ever in terms of the value and volume of sales achieved and is the second launch with ₹3,000 crore sales in the past three months," the company said.
The project, as per the exchange filing, marks the second launch with over ₹2,000 crore sales for Godrej Properties in the current quarter of Q1FY25. It is also the sixth launch in the last four quarters to have sold inventory of over ₹2,000 crore during launch.
Godrej Properties had previously sold inventory of over ₹2000 crore in Godrej Jardinia, Sector 146 Noida in Q1 of FY25; ₹3,008 crore in Godrej Zenith, Sector 89, Gurgaon in Q4 of FY24; ₹2,693 crore in Godrej Reserve, Kandivali, MMR also in Q4 of FY24; ₹2,667 crore in Godrej Aristocrat, Sector 49, Gurgaon in Q3 of FY24 and ₹2,016 crore in Godrej Tropical Isle, Sector 146, Noida in Q2 of FY24.
Additionally, the company said that it has a robust launch pipeline for the financial year 2025, which includes several new project launches planned in Bengaluru. "These planned launches along with the strategic market entry into Hyderabad will significantly strengthen the company’s presence in South India," it said.
"We will strive to ensure Godrej Woodscapes provides its residents with an exceptional living experience. South India is an extremely important region for Godrej Properties, and we aim to further strengthen our presence in the coming years," said Gaurav Pandey, MD and CEO, Godrej Properties.
Domestic brokerage house Motilal Oswal in a recent note last week said that Godrej Properties has now become the largest developer in terms of bookings. The management has also guided for a pre-sales of ₹27,000 crore in this fiscal, which implies a 20% growth compared to the previous financial year.
Shares of Godrej Properties settled 1.31% higher at ₹3,166 on Monday. The stock has risen 58% so far this year.