Godrej Properties' Sales Bookings Jump 18% In Apr-Sept, Delhi-NCR Market Contributed Maximum

Realty firm Godrej Properties' sales bookings rose 18 per cent to Rs 3,072 crore during the April-September 2021 period, driven by higher demand for its residential properties in Delhi-NCR.

The sales bookings had stood at Rs 2,605 crore in the corresponding period of the last financial year.

In terms of volume, the sales bookings grew 3 per cent to 43,83,959 sq ft during the first six months of this fiscal as against 42,41,283 sq ft in the year-ago period, according to an investors' presentation.

Out of the total sales bookings in the first half of 2021-22, residential properties contributed Rs 3,051 crore while commercial properties only Rs 20 crore.

The Delhi-NCR market contributed maximum sales bookings at Rs 1,063 crore, followed by Pune Rs 607 crore, Mumbai Metropolitan Region (MMR) Rs 525 crore and Bengaluru Rs 330 crore.

Recently, Godrej Properties reported a five-fold jump in its consolidated net profit at Rs 35.72 crore for the quarter ended September on higher revenues.

Its net profit stood at Rs 7.10 crore in the year-ago period.

Total income rose to Rs 334.22 crore in the second quarter of this fiscal, from Rs 250.23 crore in the corresponding period of the previous year.

Pirojsha Godrej, executive chairman of Godrej Properties Ltd, said: "After a weak first quarter, the real estate sector has rebounded strongly in the second quarter."

"We have a robust launch pipeline in the second half of the financial year and expect to build on the current momentum," Godrej said.

Mumbai-based Godrej Properties is part of the business conglomerate Godrej Group. It is one of the leading real estate developers in the country with a strong presence in Delhi-NCR, Mumbai Metropolitan Region, Bengaluru and Pune markets.

(with PTI Inputs)