Godrej Properties delivered exceptional performance with 84 per cent YoY growth in bookings, aided by strong positive reception of new launches in both the NCR and Mumbai, Motilal Oswal said.
Godrej Properties has surpassed the sales booking numbers of Bengaluru-based Prestige Group, which on Monday reported pre-sales of Rs 21,040 crore during the last fiscal year.
Godrej Properties sold inventory worth Rs 2,690 crore in its project Godrej Reserve located in Kandivali, Mumbai, in Q4 FY24. It also sold inventory worth over Rs 2,875 crore in its Gurugram’s Sector 49 project Godrej Aristocrat.
Godrej Properties is set to surpass its guidance for new bookings, cash collections, and project deliveries in the current financial year, driven by strong housing demand and project response. The company is launching 14 new projects and 10 new phases of ongoing projects in the second half of the fiscal year, its biggest pipeline of launches in any half-yearly period.
Godrej Properties rose 1.90 per cent to hit a high of Rs 1,565.85. It is up 25 per cent year-to-date. The land parcel is strategically located near Samrudhhi Mahamarg, the expressway connecting Mumbai & Nagpur.