Godrej Properties Launches Bengaluru Project With Bumper Response, Sells Rs 3,150 Crore Inventory
Godrej (Representative image)
According to Motilal Oswal, a domestic brokerage firm, Godrej Properties has now become the leading developer by the number of bookings.
Godrej Properties Limited has sold over 2,000 units worth over Rs 3,150 crore at its Bengaluru project, registering a 500% quarter-on-quarter growth in sales in the city. Confirming the development in an exchange filing on July 2, the realty firm said, “Sold over 2,000 homes worth over Rs 3,150 crore in its project, Godrej Woodscapes, located in Whitefield-Budigere Cross, Bengaluru.”
The sales figures recorded in the first quarter of the current financial year in Bengaluru alone have surpassed the company’s total sales for the entire FY24 in South India.
“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,” the company said.
The announcement led to a 5% surge in Godrej Properties Limited’s shares to an intraday high of Rs 3324.80.
The Bengaluru project is Godrej Properties’ second launch in the first quarter of FY25, to record sales exceeding Rs 2,000 crore. It is also the sixth launch in the last four quarters to sell more than Rs 2,000 crore of inventory at its launch.
Here are the previously sold inventories of Godrej Properties:
– Over Rs 2000 crore in Godrej Jardinia, Sector 146 Noida in Q1 of FY25,
– Rs 3,008 crore in Godrej Zenith, Sector 89, Gurgaon in Q4 of FY24,
– Rs 2,693 crore in Godrej Reserve, Kandivali, MMR also in Q4 of FY24,
– Rs 2,667 crore in Godrej Aristocrat, Sector 49, Gurgaon in Q3 of FY24,
– Rs 2,016 crore in Godrej Tropical Isle, Sector 146, Noida in Q2 of FY24.
Godrej Properties said it has a strong launch pipeline for fiscal year 2025, with multiple new project launches scheduled in Bengaluru.
According to Motilal Oswal, a domestic brokerage firm, Godrej Properties has now become the leading developer by the number of bookings.
Godrej Properties has also projected pre-sales of Rs 27,000 crore for this fiscal year, representing a 20 per cent increase over the previous year.
