July 6, 2022

Godrej Properties is concentrating on no less than 27 % progress in its gross sales bookings this fiscal 12 months to cross the Rs 10,000 crore mark because it plans to launch many tasks throughout main cities to encash on a ”decisive uptrend” in housing demand, a prime firm official stated.

In an interview with PTI, Godrej Properties Government Chairman Pirojsha Godrej stated the corporate’s efficiency within the fourth quarter, in addition to the whole final fiscal, was very spectacular because it achieved file gross sales bookings and collections from prospects. The corporate is aiming to carry out higher on key operational and monetary metrics.

Within the final fiscal, Godrej Properties’ gross sales bookings elevated 17 % to Rs 7,861 crore, out of which Rs 7,781 crore got here from the residential properties. It bought 9,121 properties with a complete space of 10.8 million sq. toes in FY22.

Concerning the goal for the present fiscal, Pirojsha Godrej stated, ”we do not give monetary numbers steering. Launch steering could be very sturdy.”

He expects one other record-breaking 12 months when it comes to gross sales bookings, collections from prospects, and deliveries of tasks.”The monetary numbers must also be fairly wholesome.”

On gross sales bookings for FY’23, Pirojsha Godrej stated, ”we undoubtedly ought to see good progress over final 12 months’s degree. Our aim shall be to attempt to cross Rs 10,000 crore.”

”Total, I believe the excellent news is now the sector appears to have decisively was an uptrend and I believe the following few years needs to be excellent ones for the sector. We have now in fact been including loads of tasks to our portfolio. In order that additionally offers us good confidence,” he stated.

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Pirojsha Godrej stated the corporate delivered round 6.5 million sq. toes over the past fiscal and is concentrating on to achieve 10 million sq. toes.

He famous that the corporate plans to launch over 20 million sq. toes space new tasks or new phases in current tasks throughout this fiscal space, primarily in 4 cities — Mumbai Metropolitan Area (MMR), Delhi-NCR, Pune, and Bengaluru. Based on an organization presentation, it achieved a reserving worth of Rs 7,861 crore for FY22, the very best ever gross sales in a monetary 12 months regardless of the extreme affect of the second wave of the coronavirus pandemic in Q1 FY22.

That is the fifth consecutive 12 months of file annual gross sales regardless of trade volatility, it stated.

”Gross sales from new launches in FY22 stood at Rs 3,036 crore. Gross sales from current stock stood at Rs 4,826 crore (together with business gross sales of Rs 81 crore)… Highest ever annual residential assortment of Rs 6,907 crore in FY22,” the corporate stated.

Earlier this week, Godrej Properties reported a consolidated web revenue of Rs 260.47 crore for the quarter led to March whereas its gross sales bookings grew by 23 % to Rs 3,248 crore. The corporate had posted a web lack of Rs 191.57 crore within the year-ago interval.

Complete revenue elevated to Rs 1,522.57 crore throughout the January-March quarter of the final fiscal from Rs 576.08 crore within the year-ago interval, in keeping with a regulatory submitting.

Godrej Properties posted a web revenue of Rs 352.37 crore throughout 2021-22. It had a web lack of Rs 189.30 crore within the earlier 12 months. Complete revenue elevated to Rs 2,585.69 crore within the final fiscal from Rs 1,333.09 crore in 2020-21.

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Godrej Properties, the actual property arm of the enterprise conglomerate Godrej Group, has a major presence within the property markets of Mumbai Metropolitan Area (MMR), Delhi-NCR, Pune, and Bengaluru. The corporate has delivered round 24 million sq. toes of actual property previously 5 years. It at present has 192 million sq. toes of saleable space throughout India.

(With PTI inputs)

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Revealed on: Thursday, Might 05, 2022, 04:57 PM IST