Godrej Properties achieves Rs 3,150 crore sales in Bengaluru project
Jul 02, 2024
Mumbai (Maharashtra) [India], July 2 : Achieving a major milestone, Godrej Properties Ltd has sold over 2,000 homes worth over Rs 3,150 crore in its project, Godrej Woodscapes, located in Whitefield-Budigere Cross, Bengaluru.
The company said that the project is the most successful launch both in terms of value and volume.
"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 in its regulatory filing on July 2.
The total area of the project was 3.4 million square feet, the Mumbai-based real estate developer added.
Godrej Properties has seen incredible success with their Godrej Woodscapes project, achieving over 500 per cent growth in sales compared to the previous quarter in Bengaluru.
The company said that in just the first quarter of the financial year 2024-2025, it has already surpassed its entire sales target for South India for the previous year.
Godrej Woodscapes is the second project this quarter to exceed Rs 2000 crore in sales, as per the filing of the company.
Over the past year, the company had six project launches each selling over Rs 2000 crore right at launch. These projects include Godrej Jardinia in Noida, Godrej Zenith in Gurgaon, Godrej Reserve in Kandivali, Godrej Aristocrat in Gurgaon, and Godrej Tropical Isle in Noida, the regulatory filing added.
The company further informed the exchanges that it has many new projects planned for 2025, especially in Bengaluru.
Apart from the existing projects, the company is entering the Hyderabad market. It is posed to strengthen its presence in South India, the company said.
Gaurav Pandey, MD and CEO, of Godrej Properties, said, "We are delighted with the response to our project, Godrej Woodscapes. We will strive to ensure Godrej Woodscapes provides its residents with an exceptional living experience. South India is an extremely important region for Godrej Properties, and we aim to further strengthen our presence in the coming years."
The company in FY 2021 emerged as the largest developer in India by the value and volume of residential sales, as per the filing release.
After the news came in public, the company's stock traded in green with 8.70 up, or 0.79 per cent during the day's trade on July 2. The stocks of the company opened at 1106.40 and touched the high level of 1121.70.
