On Monday, Godrej Properties (GPL) declared that, within three days of the Godrej Zenith project's debut in Gurugram, Haryana, it has sold over 1050 units for a total estimated value of over Rs 3,000 crores. This is the fourth time in all of India and the second time in Gurugram that GPL has achieved sales of more than Rs 2,000 crore since its inception in FY24.
It is anticipated that the Godrej Group's real estate division would soon introduce new projects in Sectors 103, 43, and 54 in an effort to increase its market share in Gurugram.
"We are overjoyed by the reception to Godrej Zenith, our project. Godrej Properties considers Gurugram to be a very significant market, and in the years to come, we plan to further establish our footprint there, according to CEO and MD Gaurav Pandey.
In Q4 of FY24, the business sold inventory in its Kandivali, Mumbai project, Godrej Reserve, for a total of Rs 2,690 crore.
With a strong deal pipeline and further consolidation in the national real estate market, the company hopes to exceed its business development target of Rs 15,000 crore for the current financial year. For the second consecutive quarter, Godrej Properties saw its biggest quarterly sales record in the December quarter, with 4.34 million square feet of space sold and a total booking value of Rs 5,720 crore. In the quarter ending in December, the developer's consolidated net profit increased by 6% on an annual basis to Rs 62 crore. The period's total revenue increased by 43% to Rs 524 crore.
