Shares of Godrej Properties surged over 7% on Tuesday, April 9th, following the announcement that the company had posted its highest-ever yearly sales in Q4, FY24, exceeding its booking guidance by 61%. Specifically, the company’s Q4 bookings saw a remarkable increase of 135% year-on-year, reaching Rs 9,500 crore.
As of 10:05 am, the shares were trading 5.43% higher at ₹2,729.10.
Notably, the Q4 bookings surpassed the annual bookings of FY22. These bookings comprised 5,331 homes with a total area exceeding 8 million sq. ft.
For the full fiscal year FY24, Godrej Properties’ bookings experienced an impressive 84% year-on-year growth, surpassing the company’s guidance by 61% to surpass Rs 22,500 crore. This achievement sets a record as the highest annual sales recorded by any publicly listed real estate developer in India. The sales encompassed the sale of 14,310 homes spanning 20 million sq. ft.
The company attributed this success to robust demand, particularly in projects such as Godrej Zenith in NCR, which achieved a booking value exceeding Rs 3,000 crore, and Godrej Reserve in MMR, with a booking value of Rs 2,690 crore. Both projects marked the best-ever launches for GPL in their respective markets.
