Godrej Properties shares zoom 9% after record sales booking in FY23

Shares of Godrej Properties on Monday surged 9 per cent after the company said its sales booking rose 56 per cent last fiscal to an all-time high of Rs 12,232 crore on strong demand for residential properties.

The stock jumped 9.06 per cent to finish at Rs 1,227.25 apiece on the BSE. During the day, it rallied 9.81 per cent to Rs 1,235.70.

On the NSE, it climbed 8.63 per cent to settle at Rs 1,222.55 per share.

In a regulatory filing, Godrej Properties informed that the company achieved its highest-ever sales bookings in the fourth quarter as well as the entire 2022-23 financial year. In the fourth quarter, the company clocked sales bookings of Rs 4,051 crore. Its sales bookings stood at Rs 7,861 crore in 2021-22.

When contacted, Godrej Properties Executive Chairman Pirojsha Godrej said: "The reason we were able to deliver strong growth in FY23 is that we had a strong portfolio of projects across the country."

"For the first time, we sold over Rs 2,000 crore of real estate in each of our four focus markets of Mumbai, NCR, Bengaluru and Pune," he told PTI.

Of the total sales bookings last financial year, Pirojsha said the housing segment's contribution was 99 per cent.