Godrej Properties said that it has achieved record sales worth Rs 1,210 crore through the simultaneous launch of two new projects, Godrej Ascend located at Kolshet Road, Thane and Godrej Horizon located at Dadar - Wadala, Mumbai.
The company has cumulatively sold 700 plus homes accounting for an area of over 8.08 lakh square feet for both projects launched in Q1 FY23.
Mohit Malhotra, MD & CEO, Godrej Properties, said, We are happy with the overwhelming response received for Godrej Ascend and Godrej Horizon. Mumbai has always been a key market for us and the customer's confidence is a reflection of the increasing demand for sustainable and integrated developments by reputed developers. We will do our best to deliver an outstanding project for all the residents of these projects.
Launched in May 2022, Godrej Ascend is a residential project, located at Kolshet Road, Thane, offering good infrastructure and connectivity.
Godrej Horizon is a residential project, located at R.A. Kidwai Road near Five Gardens, Dadar-Wadala, offering good access to all the major social infrastructure like schools, hospitals, parks, and gardens as well as reputed restaurants.
Godrej Properties (GPL) is the real estate venture of the Godrej Group. GPL is present in 10 cities in India and focuses mostly on residential real estate development. It has delivered approximately 24 million square feet (msf) of real estate over the last five years and has around 192 msf of total developable area across 85 projects as on 30 April 2022.
The company's consolidated net profit surged to Rs 45.55 crore in the quarter ended June 2022 as against Rs 17.03 crore during the previous quarter ended June 2021. Sales zoomed to Rs 244.67 crore in Q1 FY23 from Rs 86.16 crore in Q1 FY22.
The scrip slipped 1.42% to currently trade at Rs 1371 on the BSE.
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