Godrej Properties Ltd. has unveiled plans to launch ₹21,000 crore worth of residential projects by March 2025, driven by strong consumer demand and a strategic focus on expanding its presence across major Indian cities. This announcement comes on the heels of a significant rise in the company’s consolidated net profit, which jumped more than fourfold to ₹520.05 crore in the first quarter of the current fiscal year.
As reported by the Money Control, Pirojsha Godrej, executive chairperson of Godrej Properties, stated in a recent interview that he is confident that company will achieve sales booking target of ₹27,000 crore for the current fiscal year. The optimism is bolstered by last fiscal’s record-breaking sales bookings, which soared 84% to ₹22,527 crore—the highest among listed real estate companies in India during 2023-24.
Godrej Properties has reported exceptional performance in the first quarter, with sales bookings skyrocketing nearly 300% to ₹8,637 crore, compared to ₹2,254 crore in the corresponding quarter of the previous year. The total area sold during this period reached 8.9 million square feet, marking the highest quarterly booking volume recorded by any developer in the country.
“We’ve seen two record quarters in a row,” Pirojsha Godrej said. “Demand is looking amazing.”
The company has already launched ₹9,000 crore worth of projects in the first quarter and is targeting the launch of additional projects worth ₹30,000 crore throughout the fiscal year. This expansion is expected to significantly contribute to the company’s goal of ₹27,000 crore in sales bookings.
The company’s growth strategy is primarily focused on the Mumbai Metropolitan Region (MMR), Delhi-NCR, Bengaluru, Pune, and Hyderabad, which are seen as high-potential markets for residential development. Additionally, Godrej Properties is also targeting tier II cities for plot sales, aiming to tap into the rising demand in these emerging markets.
In the first quarter of the fiscal year 2024-25, Godrej Properties reported a consolidated net profit of ₹520.05 crore, up from ₹113.42 crore in the same period last year. The company’s total income also rose to ₹1,699.48 crore from ₹1,265.98 crore during the same period.
The company’s strong financial results reflect its ability to capitalize on the current market conditions, with consumer demand driving significant growth in both sales bookings and profit margins.
With ₹21,000 crore in residential projects set to launch by March 2025 and a robust pipeline for the remainder of the fiscal year, Godrej Properties is well-positioned to maintain its leadership in the Indian real estate market. The company’s strategic focus on high-demand urban centers and emerging tier II cities is expected to drive continued growth, with the aim of reaching ₹27,000 crore in sales bookings by the end of the fiscal year.
The next few quarters will be critical as Godrej Properties seeks to build on its recent successes and achieve its ambitious growth targets.