Godrej Properties expects better sales bookings in FY22 as against FY21
Real Estate

Godrej Properties expects better sales bookings in FY22 as against FY21

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

Redefine the future of urban mobility! Join us at the Metro Rail Conference 2025 to explore groundbreaking ideas and insights. 👉 Register today!

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
Real Estate

Colliers India Transacts 207,000 sq ft office space at Embassy TechVillage

Embassy Office Parks REIT, India’s first listed REIT and the largest office REIT in Asia by area, announced that it has signed an Agreement to Lease (‘ATL’) with global cyber security company Rubrik at Embassy TechVillage in Bengaluru.Colliers, a leading global diversified professional services company, specialising in commercial real estate services, engineering consultancy and investment management facilitated the transaction for Rubrik.Located on Bengaluru’s Outer Ring Road, Embassy TechVillage is one of Embassy REIT’s flagship office parks which offers world-class office spaces, ..

Next Story
Infrastructure Urban

Ensemble Infrastructure India Appoints Suman Saha as Director of Design

Ensemble Infrastructure India Ltd, a leading workplace design and build fit-out company, has appointed Suman Saha as its new Director of Design. With 25 years of experience in the industry, Suman is recognized for his innovative approach and excellence in design leadership.Working closely with the CEO, Suman’s appointment will enhance the company’s design communication across multiple touchpoints, ensuring smooth collaboration between clients, designers, and execution teams for superior project outcomes. Under his guidance, Ensemble will focus on creating workspaces and design labs that em..

Next Story
Products

Ribbon Vanity by Küche7: Fluid Design Meets Everyday Elegance

Küche7, pioneers in luxury stainless steel kitchens, have unveiled the Ribbon Vanity, a graceful creation that transforms bathroom spaces with its soft, flowing design and understated sophistication. Inspired by the fluid form of a ribbon, this vanity combines smooth finishes, clean lines, and gentle curves, offering a timeless aesthetic that seamlessly complements diverse interior styles.Available in a refined blush pink hue, the Ribbon Vanity effortlessly merges functionality with elegance. With thoughtfully designed storage options, it ensures that bathroom essentials are neatly organised ..

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