Godrej Properties on solid growth foundation amid strong pre-sales

Pune, Bengaluru and Hyderabad will drive growth in the near term in contrast to the prior two years when it was NCR and MMR

Godrej Properties (GPL) reported strong pre-sales of Rs 22,500 crore in FY24, up 84 per cent year-on-year (Y-o-Y). The performance was led by new launches, which increased 65 per cent to Rs 23,000 crore in FY24, and contributed 70 per cent to total pre-sales.

The sales volume increased 31 per cent Y-o-Y to 20 million square feet (msf), while realisation rose 40 per cent Y-o-Y, driven by contribution from high-realisation markets of National Capital Region (NCR) Delhi and Metropolitan Mumbai Region (MMR) and positioning in the premium segment.

The pre-sales in the National Capital Region (NCR) tripled