Godrej Properties said that it has sold over 2,000 homes worth over Rs 3,150 crore in its project, Godrej Woodscapes, located in Whitefield-Budigere Cross, Bengaluru.
This is Godrej Properties' most successful launch ever in terms of the value and volume of sales achieved and is the second launch with Rs 3,000 crore sales in the past three months, Mumbai-based real estate developer said in a statement.
With the success of Godrej Woodscapes, the company has achieved over 500% QoQ growth in sales in Bengaluru and has surpassed its full year FY24 sales in South India within the first quarter.
Godrej Woodscapes marks the second launch with more than Rs 2000 crore sales for Godrej Properties in the current quarter of Q1 FY25. It is also the sixth launch in the last 4 quarters to have sold inventory of over Rs 2,000 crore during launch.
GPL had previously sold inventory of over Rs 2000 crore in Godrej Jardinia, Sector 146 Noida in Q1 FY25; Rs 3,008 crore in Godrej Zenith, Sector 89, Gurgaon in Q4 FY24; Rs 2,693 crore in Godrej Reserve, Kandivali, MMR also in Q4 FY24; Rs 2,667 crore in Godrej Aristocrat, Sector 49, Gurgaon in Q3 FY24 and Rs 2,016 crore in Godrej Tropical Isle, Sector 146, Noida in Q2 FY24.
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The company stated that it has a robust launch pipeline for FY25, which includes several new project launches planned in Bengaluru. The firm expects that these planned launches along with the strategic market entry into Hyderabad will help strengthen its presence in South India.
Gaurav Pandey, MD & CEO, Godrej Properties, said: We are delighted with the response to our project, Godrej Woodscapes.
South India is an extremely important region for Godrej Properties, and we aim to further strengthen our presence in the coming years.
Godrej Properties is the real estate arm of the Godrej Group. It is subsidiary of Godrej Industries, which holds 58.48% of the company's equity shares as on 31 March 2024. The company currently operates in various cities and focuses on residential, commercial, and township development.
The company's consolidated net profit jumped 14.34% to Rs 471.26 crore in Q4 FY24 as compared with Rs 412.14 crore in Q4 FY23. Revenue from operations declined 13.37% YoY to Rs 1,426.09 crore in Q4 FY24.
The scrip rose 0.88% to currently trade at Rs 3,190.15 on the BSE.
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