1. Home
  2. Real Estate
  3. Godrej Properties expects better sales bookings in FY22 as against FY21
Godrej Properties expects better sales bookings in FY22 as against FY21
Real Estate

Godrej Properties expects better sales bookings in FY22 as against FY21

12 May 2021 2 Min Read CW Team
Real estate major Godrej Properties, in the current fiscal, expects to surpass last year's sales bookings record of Rs 6,725 crore despite the second wave of the Covid-19 pandemic, along with hopes of crossing the Rs 10,000 crore mark in FY23.

According to Godrej Properties, the company expects muted sales between the April to June quarter due to the ongoing pandemic and lockdown in various parts of the countries.

The company's sales bookings increased 14% to an all-time high of Rs 6,725 crore during the last financial year, despite the overall demand slowdown in the market because of the pandemic.

Godrej Properties achieved sales bookings of over Rs 1,300 crore each across four major markets—Delhi-NCR, Mumbai Metropolitan Region (MMR), Pune and Bengaluru.

Godrej Properties said the company aims for over 20% growth in this fiscal before the onset of the second wave. According to the company, the booking value growth and earnings growth should be very robust over the medium term.

As we have reported earlier, Godrej Properties, which recently raised Rs 3,750 crore through the sale of shares to institutional investors through the Qualified Institutional Placement (QIP) route, aims to expand its operation manifold over the next four or five years.

During FY21, Godrej Properties reported a net loss of Rs 189.43 crore against a net profit of Rs 273.94 crore in the previous fiscal year. Total income declined to Rs 1,333.09 crore in 2020-21 from Rs 2,914.59 crore in the previous fiscal.

Image Source

Also read: How housing sales saw a boost among stamp duty reduction and how luxury deals took the leap

Real estate major Godrej Properties, in the current fiscal, expects to surpass last year's sales bookings record of Rs 6,725 crore despite the second wave of the Covid-19 pandemic, along with hopes of crossing the Rs 10,000 crore mark in FY23. According to Godrej Properties, the company expects muted sales between the April to June quarter due to the ongoing pandemic and lockdown in various parts of the countries. The company's sales bookings increased 14% to an all-time high of Rs 6,725 crore during the last financial year, despite the overall demand slowdown in the market because of the pandemic. Godrej Properties achieved sales bookings of over Rs 1,300 crore each across four major markets—Delhi-NCR, Mumbai Metropolitan Region (MMR), Pune and Bengaluru. Godrej Properties said the company aims for over 20% growth in this fiscal before the onset of the second wave. According to the company, the booking value growth and earnings growth should be very robust over the medium term. As we have reported earlier, Godrej Properties, which recently raised Rs 3,750 crore through the sale of shares to institutional investors through the Qualified Institutional Placement (QIP) route, aims to expand its operation manifold over the next four or five years. During FY21, Godrej Properties reported a net loss of Rs 189.43 crore against a net profit of Rs 273.94 crore in the previous fiscal year. Total income declined to Rs 1,333.09 crore in 2020-21 from Rs 2,914.59 crore in the previous fiscal. Image Source Also read: How housing sales saw a boost among stamp duty reduction and how luxury deals took the leap

Next Story
Infrastructure Urban
27 Nov 2024

bauma Conexpo 2024 is it the largest edition, with 1,000 exhibitors

India's construction equipment industry is experiencing significant growth, fueled by rapid infrastructure development, expanding mining activities, and increasing urbanisation. bauma Conexpo India will bring together leaders, global players and decision-makers from the international trade fair for construction machinery, building material machines, mining machines and construction vehicles under one roof. The exhibition will host its biannual event at the India Expo Centre, Greater Noida  from 11 to 14 December 2024.In 2023, the exhibition attracted 41,108 participants as well as 601 exh..

Read More
Next Story
Infrastructure Urban
27 Nov 2024

Our commitment to excellence and innovation drives our success

In India's dynamic industrial landscape, Gmmco, a comprehensive solutions provider across the construction, resources and energy transportation industries, stands as a testament to innovation. As a powerhouse of the CK Birla Group with a legacy spanning over five decades, the company has evolved from a traditional equipment supplier to a full-spectrum solutions provider, prioritising technology, innovation and sustainability. Its distinctive approach includes rental solutions, used equipment options, financing support, rebuilt options and tailored product support solutions, setting new benchma..

Read More
Next Story
Infrastructure Urban
27 Nov 2024

Vedanta plans $2 billion investment in Saudi Arabia copper projects

Vedanta announced its plan to invest $2 billion in major copper projects in Saudi Arabia. Vedanta Copper International, a wholly-owned subsidiary of the company, has signed an agreement with Saudi Arabia's Ministry of Investment and Ministry of Industries & Mineral Resources. The agreement outlines the establishment of a greenfield copper smelter and refinery with a capacity of 400 kilo tonnes per annum (KTPA) and a 300 KTPA copper rod project. According to the company, this collaboration aligns with Saudi Arabia's Vision 2030 and aims to invest $2 billion in significant copper projects withi..

Read More

Opinion Poll

Question : Which technological advancement do you believe will most transform the real estate industry in the coming years?

Latest updates

bauma Conexpo 2024 is it the largest edition, with 1,000 exhibitors
ECONOMY & POLICY
27 Nov 2024

bauma Conexpo 2024 is it the largest edition, with 1,000 exhibitors

Our commitment to excellence and innovation drives our success
ECONOMY & POLICY
27 Nov 2024

Our commitment to excellence and innovation drives our success

Vedanta plans $2 billion investment in Saudi Arabia copper projects
ECONOMY & POLICY
27 Nov 2024

Vedanta plans $2 billion investment in Saudi Arabia copper projects

Bengaluru approves Rs 6.94-billion plan to repair 390 km of roads
ROADS & HIGHWAYS
27 Nov 2024

Bengaluru approves Rs 6.94-billion plan to repair 390 km of roads

Rs17.50 bn Tato-I Hydro Project Approved to Boost Arunachal's Power
POWER & RENEWABLE ENERGY
27 Nov 2024

Rs17.50 bn Tato-I Hydro Project Approved to Boost Arunachal's Power

Noida Authority lodges EOW complaint against Logix Developers
Real Estate
27 Nov 2024

Noida Authority lodges EOW complaint against Logix Developers

State Street leases Brookfield office tower in Mumbai for GCC setup
ECONOMY & POLICY
27 Nov 2024

State Street leases Brookfield office tower in Mumbai for GCC setup

Odisha to Amend Real Estate Laws for Easier Sale Deed Registration
Real Estate
27 Nov 2024

Odisha to Amend Real Estate Laws for Easier Sale Deed Registration

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000