Realty firm M3M group today said it has sold housing and commercial properties worth about Rs 3,700 crore during the last fiscal, helped by better sales of ready-to-move-in flats and launch of luxury project Trump Towers in January 2018.
The company's sales booking stood at around Rs 1,600 crore in the 2016-17 financial year.
The Gurgaon-based developer sold 921 housing units and 1,000 commercial units covering 8 lakh sq ft area.
In value terms, residential segment contributed sales of nearly Rs 2,400 crore while commercial accounted for revenues of about Rs 1,250 crore, the company said, adding that it has become the fastest growing developer in North India.
He attributed higher sales to the company's project execution capabilities and said that 10 million sq ft area was delivered during last 18 months.
"Despite the current sluggishness in the market...the group has managed this feat. This just proves that developers who are distinguishing themselves and are able to deliver are not prone to market dynamics. It boils down to the performance of the developer and not the market conditions," Bansal said.
In January, M3M India launched Trump Towers project in Gurgaon. M3M and Tribeca Developers will build 250 ultra luxury residences under a brand licence from US-based The Trump Organisation. The total investment in this project is estimated at Rs 1,200 crore.
The company has 2,200 acres of land bank in and around Gurgaon. It had bought 185 acre land in Gurgaon for Rs 1,211 crore from Sahara group. M3M India already completed 8 projects and is currently developing 12 projects.
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